BiggerPockets Podcast 185: How “Rent-to-Own” Can Increase Cash Flow and Maximize Equity with Bill Powers

BiggerPockets Podcast 185: How “Rent-to-Own” Can Increase Cash Flow and Maximize Equity with Bill Powers

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On today’s episode of The BiggerPockets Podcast, Josh and Brandon sit down with Bill Powers, a real estate investor from the Chicago suburbs, to learn how he went from zero to over 70 units in five years while focusing on lease options — also known as “rent to own.” This powerful strategy is one that anyone can begin using in their business to achieve more cash flow and equity — and today, you’ll learn all the details. Get your pen and paper out for this show — you’ll want to take some notes!

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In This Episode We Cover:

  • How Bill got started in real estate
  • All the mistakes he made on his first house
  • Tenant screening must-haves
  • How exactly rent-to-own works
  • What the first look program is
  • What you should know about the 2% rule
  • How to not be a predatory investor
  • Tips for running your business the right way
  • A discussion on “instant equity
  • Why some people are not fulfilling their lease options
  • A profile of common tenants who go for rent to own
  • What is Dodd-Frank is and how it affects people who use lease options
  • Things to note before going for a lease option
  • What the future of his business is
  • How many hours he works in a week
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Tweetable Topics:

  • “Where rents are highest and acquisition of capital is lowest, that’s where we focus.” (Tweet This!)
  • “I think you can always flip. I think there’s spread on properties all the time.” (Tweet This!)
  • “There are ways to lose money on flips even if you make money — because opportunity cost is a big factor on that.” (Tweet This!)
  • “Don’t be enticed completely by the flip side of things. Look long term.” (Tweet This!)

Connect with Bill