No Experience Necessary - Rental Property Retirement Guide

By Randy McDaniel

Everything in the book is exactly what my wife and I are currently doing to retire. This is not theory, or out of a text book. We had no experience, very little money, no degrees and knew zero about real estate. We simply needed to figure out a way to retire safe, comfortable without the worry of how our 401K or stock market performs. I hope you will take the first step and just start.
This is virtually 100% safe with the highest returns we have ever come across. It is meant for the average person who does not have lots of savings or a large 401K or rich relatives. We started with zero money or experience and after 7 years we have more than $500,000 in rental property and will be able to reach our retirement goals.

• Language: English
• Publisher: BookBaby
• Release date: May 1, 2012
• ISBN: 9781620957660

Book preview

House 1:

One day, when I was not searching for a house and still no idea of what might be in store for our retirement future, I ran into a friend of mine that helped us get started with our real estate rental portfolio. I had no idea, what was in store nor was I looking for a rental property. I would like to stress, that if you’re looking for opportunities they are everywhere, and it is 100% up to you to simply be prepared to ACT when you are presented with an opportunity. We explored a wide variety of opportunities, most of which were not what we could do, or were capable of doing or had the money to do.

I ran into Larry (a friend) while he was sitting down and he seemed to be down. I stopped and we began to talk as we had done many times in the past. While the entire conversation only lasted about 15 minutes or so, he began to open up some and described what was really bothering him. He began to talk about his dad and the fact that he needed some help moving into an assisted living residential facility. He also explained that in order for his dad to receive financial help from the government, he would have to sell everything he owned in order to receive Medicare and/or Medicaid. I did not really understand all the rules for government assistance programs; however I did begin to grasp one of the things he needed to do in order to help his dad. In order to qualify for Medicaid, you must meet specific eligibility requirements that vary by state: You must be considered categorically needy due to blindness, disability, and/or age. You must be financially needy. This means that your income and your assets must fall under certain limits set by the state in which you live. Medicaid does not provide medical assistance for all people with limited incomes and resources. Even under the broadest provisions of the Federal statute (except for emergency services for certain persons), the Medicaid program does not provide health care services for everyone. You must qualify for Medicaid. Low-income is only one test for Medicaid eligibility. There are other established thresholds that vary state by state that must also be met. With all that being said, Larry told me he really needed to sell his dads house located in Windom, Texas. I did not even know where Windom was located. I simply asked him a few questions about the house and made suggestions of who he might call to help him sell it, or transfer the deed/title to his name and several other suggestions, I thought might