{"id":90054,"date":"2017-07-06T00:02:05","date_gmt":"2017-07-06T06:02:05","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=90054"},"modified":"2023-04-14T01:00:22","modified_gmt":"2023-04-14T07:00:22","slug":"biggerpockets-podcast-234tenantsevictionsdark-side-money-ryan-murdock","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/biggerpockets-podcast-234tenantsevictionsdark-side-money-ryan-murdock","title":{"rendered":"Tenants, Evictions, &#038; The Dark Side of No Money Down with Ryan Murdock"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">People often toss around the term \u201cpassive income\u201d when it comes to owning rental properties. And, in truth, there are ways to make managing tenants passive. But for the majority of investors, being a landlord can be tough. On today\u2019s show, we talk with <strong>Ryan Murdock<\/strong>, an investor and property manager from Maine about the lessons he\u2019s learned building up his rental portfolio. Ryan also shares his story of going to the brink of financial ruin with a \u201cno money\u201d deal and how to avoid losing your shirt when doing creative financing. <\/span><\/p>\n<p><a href=\"https:\/\/itunes.apple.com\/us\/podcast\/biggerpockets-podcast-real\/id594419649\" target=\"_blank\" rel=\"noopener\">Click here<\/a>\u00a0to listen on iTunes.<\/p>\n<h2>Listen to the Podcast Here<\/h2>\n<p><iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm?e=BIGPOC8014972160&#038;light=false\" width=\"100%\"><\/iframe><\/p>\n<h2>Watch the Podcast Here<\/h2>\n<p><iframe loading=\"lazy\" title=\"Tenants, Evictions, &amp; The Dark Side of No Money Down with Ryan Murdock | BP Podcast 234\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/a2jXysBGv8U?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h2>Help Us Out!<\/h2>\n<p>Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds and instructions can be found <a href=\"https:\/\/www.biggerpockets.com\/forums\/25\/topics\/161423-do-you-listen-to-the-bp-podcast\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>. Thanks! We really appreciate it!<\/p>\n<h2>This Show Sponsored By<\/h2>\n<p>We just wa<img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-66280 no-display appear\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2014\/11\/RealtyShares.png\" alt=\"RealtyShares\" width=\"283\" height=\"60\" title=\"\">nted to give a shout out to our podcast sponsor\u00a0on today\u2019s show:<strong> RealtyShares<\/strong>. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!<\/p>\n<p>Learn more by visiting\u00a0<a href=\"https:\/\/www.realtyshares.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">RealtyShares.com\/biggerpockets<\/a>!<\/p>\n<h2>Fire Round\u00a0Sponsor<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-77567 alignright\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/03\/simplisafe.png\" alt=\"simplisafe\" width=\"271\" height=\"58\" title=\"\">Check out <strong>SimpliSafe<\/strong> Security&#8217;s DIY home security systems; an affordable, wireless, cellular, and customizable system that doesn&#8217;t require a contract!<\/p>\n<p>Try it today with a discount:\u00a0<a href=\"http:\/\/simplisafepockets.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">simplisafepockets.com<\/a><\/p>\n<h2>In This Episode We Cover:<\/h2>\n<ul>\n<li>How <strong>Ryan started<\/strong> by reading a book<\/li>\n<li>The beauty of <strong>house hacking<\/strong><\/li>\n<li>Why he started his own <strong>property management company\u00a0<\/strong><\/li>\n<li>Tips for dealing with <strong>inherited tenants<\/strong><\/li>\n<li>How to find <strong>good agents<\/strong><\/li>\n<li>Thoughts on having an agency to &#8220;<strong>sponsor<\/strong>&#8221; you<\/li>\n<li>How to know when to <strong>quit your job<\/strong><\/li>\n<li>The things he misjudged while <strong>buying houses<\/strong><\/li>\n<li>How <strong>capital<\/strong> plays a huge role<\/li>\n<li>How to <strong>accurately estimate<\/strong> costs when fixing properties<\/li>\n<li>How many <strong>rental units<\/strong> he has<\/li>\n<li>Tips for <strong>finding properties<\/strong> through the <a href=\"https:\/\/www.biggerpockets.com\/marketplace\" target=\"_blank\">BiggerPockets Marketplace<\/a><\/li>\n<li>What <strong>metrics<\/strong> he uses to decide on a property<\/li>\n<li>How he <strong>funded<\/strong> his deals<\/li>\n<li>What he would do <strong>differently<\/strong> if he started again<\/li>\n<li>The <strong>BRRRR strategy<\/strong><\/li>\n<li><strong>And SO much more!<\/strong><\/li>\n<\/ul>\n<h2>Links from the Show<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.biggerpockets.com\/forums\" target=\"_blank\" rel=\"noopener noreferrer\">BiggerPockets Forums<\/a><\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/forums\/517-real-estate-marketplace\" target=\"_blank\" rel=\"noopener noreferrer\">BiggerPockets Marketplace<\/a><\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/alerts\" target=\"_blank\" rel=\"noopener noreferrer\">BiggerPockets Keyword Alerts<\/a><\/li>\n<\/ul>\n<h2>Books Mentioned in this Show<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.biggerpockets.com\/setforlife\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Set for Life<\/em><\/a> by Scott Trench<\/li>\n<li><a href=\"http:\/\/amzn.to\/2sFZUVm\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Property Management For Dummies<\/em><\/a> by Grisworld<\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/nomoney\" target=\"_blank\" rel=\"noopener noreferrer\"><em>The book on investing with Low or No Money Down<\/em><\/a> by Brandon Turner<\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/emyth\" target=\"_blank\" rel=\"noopener noreferrer\"><em>The E-Myth<\/em><\/a> by Michael Gerber<\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/theonething\" target=\"_blank\" rel=\"noopener noreferrer\"><em>The ONE Thing<\/em><\/a> by Gary Keller and Jay Papasan<\/li>\n<\/ul>\n<h2>Tweetable Topics:<\/h2>\n<ul>\n<li>&#8220;Don\u2019t just quit and hope for the best.&#8221; (<a href=\"https:\/\/twitter.com\/home?status=%22Don%E2%80%99t%20just%20quit%20and%20hope%20for%20the%20best.%22%20BP%20Podcast%20234%20%40biggerpockets%20biggerpockets.com\/show234\" target=\"_blank\">Tweet This!<\/a>)<\/li>\n<li>&#8220;Creative investing is not about being broke. It\u2019s just about putting together a deal without your own money.&#8221; (<a href=\"https:\/\/twitter.com\/home?status=%22Creative%20investing%20is%20not%20about%20being%20broke.%20It%E2%80%99s%20just%20about%20putting%20together%20a%20deal%20without%20your%20own%20money.%22%20biggerpockets.com\/show234\" target=\"_blank\">Tweet This!<\/a>)<\/li>\n<li>&#8220;You either win or you learn.&#8221;\u00a0(<a href=\"https:\/\/twitter.com\/home?status=%22You%20either%20win%20or%20you%20learn.%22%20BP%20Podcast%20234%20%40biggerpockets%20biggerpockets.com\/show234\" target=\"_blank\">Tweet This!<\/a>)<\/li>\n<\/ul>\n<h2>Connect with Ryan<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.biggerpockets.com\/users\/RyanM177\" target=\"_blank\" rel=\"noopener noreferrer\">Ryan&#8217;s BiggerPockets Profile<\/a><\/li>\n<li><a href=\"http:\/\/leasebangor.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Ryan&#8217;s Property Management Website<\/a><\/li>\n<li><a href=\"http:\/\/realtyofmaine.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Realty of Maine<\/a><\/li>\n<\/ul>\n<h2>Show Preview<\/h2>\n<p><iframe loading=\"lazy\" title=\"Show 234 Preview: The Dark Side of No Money Down\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/MXbxiuYlRHs?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>People often toss around the term \u201cpassive income\u201d when it comes to owning rental properties. And, in truth, there are ways to make managing tenants passive. But for the majority [&hellip;]<\/p>\n","protected":false},"author":17340,"featured_media":118306,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4565],"tags":[],"class_list":["post-90054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biggerpockets-podcast"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/90054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/17340"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=90054"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/90054\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/118306"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=90054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=90054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=90054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}