Rental Properties 101

Course details

Investing in rental property is a time-tested strategy for building wealth in real estate. Contrary to popular opinion, generating passive rental income does not require you to deal with tenants, handle repairs, or even see the property in person. Nor does it require a major capital investment or prior real estate experience. All you need is a reliable system for finding the right rental properties, putting quality management in place, and structuring “hands-off” real estate deals that deliver consistent income each and every month. In this WealthFit course, you can learn how to buy your first cash-flowing rental the right way. Explore the pros—and the cons—of real estate investing and decide if it's right for you. Then discover how to identify your target market, use a deal analyzer to analyze properties, and get a hands-on approach to proactive vs. passive rentals. By the end of this course, you'll have the knowledge you need to kickstart your first rental investment.

Topics include:
Reducing your risk
Leveraging tax deductions
Dealing with the challenges of rental properties
Identifying your target market
Performing due diligence
Analyzing the purchase with a deal analyzer tool
Finding a rental property
Managing tenants
Maintaining your rental property
Purchasing properties with tenants in place

Concepts

0. Introduction

01 - Getting started generating passive income

1. The Pros of Investing in Rentals

02 - Reducing risk and increasing your potential profit
03 - Harnessing the advantage of tax deductions

2. The Cons of Investing in Rentals

04 - Why there are challenges getting cash from your equity
05 - The difficulty of being a hands-on landlord

3. Buying Rental Properties Right

06 - Tools to help excel in your buying journey
07 - Understanding your target market
08 - Why doing your due diligence can be a huge benefit
09 - Specifications of doing your due diligence
10 - How to excel at managing your property

4. The Deal Analyzer for Rentals

11 - Deal analyzer tool for rentals and how it works
12 - Adding the rental property information to the deal analyzer
13 - Value of the land as it pertains to the deal analyzer
14 - Timetables within the deal analyzer tool
15 - How to use the gross rent multiplier in the deal analyzer
16 - Adding depreciation to your deal analyzer document
17 - How the price per square foot number adds to the deal analyzer
18 - Estimates of your five-year operating projections in the deal analyzer tool
19 - Break-even ratio with the deal analyzer tool

5. The Hands-On Approach for Rentals

20 - Finding a rental property that will be profitable
21 - Negotiating the deal and excel at closing the transaction
22 - Preparing the property and advertising
23 - Managing of tenants and maintenance of property

6. The Passive Approach for Rentals

24 - Generating income whether you are doing anything or not
25 - Purchasing properties with tenants already in place

Conclusion

26 - How to excel at buying rental property