BP Podcast 193: Finding and Managing Rental Properties While Working Full-Time with Steve Garner

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Everyone knows rental properties can be a great way to build wealth and cash flow. Yet so few people ever take the steps needed to build their portfolio. That’s why we’re excited for you to listen to this week’s episode of The BiggerPockets Podcast! On this show, we sit down with Steve Garner, a North Carolina investor who currently is building and managing a rental portfolio while working a full-time job he loves. You’ll learn several creative methods for finding deals that have worked great for Steve, as well as some of his clever tricks for managing tenants with minimal work!

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This Show Sponsored By

MACK-INV-logo_OverviewA huge thanks as well to our Fire Round sponsor MACK.

MACK Investments is the nation’s longest tenured turnkey operator with over 38 years of combined experience, with its fully vertically integrated operation in the US’s most diverse economy, Chicagoland. With over 2000+ homes under management, we serve over 300+ investors across 11 different countries. Homes are priced below 200 thousand and will generate a guaranteed CAP averaging 9% that can be leveraged to achieve returns in excess of 20%.

Learn more by visiting MACKinvestments.com.

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In This Episode We Cover:

  • How Steve got started in real estate
  • How to build courage to get started investing
  • Details on his first deal
  • Why Brandon and Steve love tenant-proofing their properties
  • What “REO” means
  • What REIA is
  • How he landed his second property using Homepath
  • Tips for looking at cash on cash return
  • How many deals has Steve done so far
  • How he finds deals
  • How he handles CapEx
  • How to puts money aside for CapEx
  • Steve’s 10-unit townhomes
  • How he finances his properties
  • Thoughts on managing properties
  • Why he’s very particular when a tenant’s about to leave
  • What his full-time job is
  • The importance of screening and having standards for tenants
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Tweetable Topics:

  • “I am a long-term buy and hold investor so I try to rent-proof my properties.” (Tweet This!)
  • “The time to get credit is when you don’t need it.” (Tweet This!)
  • “There’s so many good tenants out there that you want to make sure you find that good tenant.” (Tweet This!)
  • “Beyond being a continual learner is taking action.” (Tweet This!)

Connect with Steve

Show Preview

About Author

Thanks for checking out the BiggerPockets Real Estate Investing & Wealth Building Podcast. Hosts Joshua Dorkin & Brandon Turner strive to bring top-notch educational content and interviews to our listeners -- without the non-stop pitch prevalent around the industry. With over 80,000 listeners per show, the BiggerPockets Podcast has become the biggest real estate podcast in the world. But don’t take our word for it. We’re the top-rated and reviewed real estate show on iTunes — check it out, read the reviews on iTunes, and get busy listening and learning!

7 Comments

  1. Eric R.

    I’ve been absorbing quite a few of the podcasts since discovering them a few weeks back. This week’s episode has been great for me because this is exactly where I think I’ll be in 12 months (investing while working). Thanks for putting the info out there!

    Regards,
    Eric

  2. Andrew E.

    Great podcast, I love hearing about success stories from people still working full time. It really is possible if you manage your time right and talk to the right people. Great motivation while driving to and from work. Thanks!

  3. Julie Marquez

    I really liked that podcast and the little nuggets of information. Great way to collect rent too. And maybe the raising the rents doesn’t burn as badly when it’s $38 instead of $40. That’s a good way to get your odd numbers.

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