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626: How “Turnkey” Rentals Can Help You Build Real Estate Riches Faster w/Zach Lemaster

626: How “Turnkey” Rentals Can Help You Build Real Estate Riches Faster w/Zach Lemaster

FromBiggerPockets Real Estate Podcast


626: How “Turnkey” Rentals Can Help You Build Real Estate Riches Faster w/Zach Lemaster

FromBiggerPockets Real Estate Podcast

ratings:
Length:
66 minutes
Released:
Jun 23, 2022
Format:
Podcast episode

Description

Turnkey rental properties have become a fan favorite for rookie real estate investors and investors who don't have enough time to manage their rehabs and rental properties. Turnkey real estate is marketed as a way for real estate investors to buy a rehabbed property, often with tenants and management in place, leaving them with just rent checks to collect. One company, Rent To Retirement, has become one of the most popular places to find turnkey investment properties—and for a good reason.Behind the helm is Zach Lemaster, former optometrist, and current real estate investor. After going through eight years of school, Zach was left with six figures in student loan debt and a job that required him to be on-site for the majority of his waking hours. Like most new real estate investors, Zach had hit a breaking point and realized he needed something else that could provide him income, without the time commitment.After shelling out a large sum on a wholesaling course, Zach began using his assignment fee profits and salary from his job to buy rental properties. Every year he would buy more and more rentals, allowing him to finally scale into what he calls “turnkey commercial” (triple net) properties that give him sizable rent checks without any of the management headaches. Zach has a real estate investing path worth repeating, and he explains how he did all of it in this episode.In This Episode We Cover:How to use wholesaling to make extra cash to invest in real estateThe dos and don’ts of long-distance real estate investing (don’t make Zach’s mistake)When to reinvest rental property profits so you can retire even soonerThe biggest challenges you’ll face when building a real estate portfolio Turnkey rentals and why they’re a great option for busy investorsThe importance of a great property manager and how a bad one can ruin your dealsAnd So Much More!Links from the ShowBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastGet Your Ticket for BPCon 2022David’s YouTube ChannelAsk David Your Real Estate Investing QuestionListen to All Your Favorite BiggerPockets Podcasts in One PlaceSubscribe to The “On The Market” YouTube ChannelDavid’s BiggerPockets ProfileDavid's InstagramDave's BiggerPockets ProfileDave's InstagramMastering Turnkey Real Estate—How to Build a Passive Portfolio6 Pros & Cons of Investing in Turnkey PropertiesThe Perfect Blueprint for Scaling Quickly in Real EstateSubscribe to The Rent to Retirement YouTube ChannelRent to RetirementBooks Mentioned in the ShowThe Millionaire Real Estate Agent by Gary KellerThe E-Myth by Michael GerberConnect with Zach:Zach's BiggerPockets ProfileClick here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-626Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Jun 23, 2022
Format:
Podcast episode

Titles in the series (100)

Imagine you are friends with hundreds of real estate investors and entrepreneurs. Now imagine you can grab a beer with each of them and casually chat about failures, successes, motivations, and lessons learned. That’s what The BiggerPockets Podcast delivers. Co-hosted by Brandon Turner and David Greene, this podcast provides actionable advice from investors and other real estate professionals every week. The show won’t tell you how to “get rich quick” or sell you a course, boot camp, or guru system; instead, the BiggerPockets Podcast will give you real strategies that work for real people. Start listening and join the over one million members who are learning to invest so they need Bigger Pockets! Visit biggerpockets.com, and follow Joshua Dorkin @jrdorkin, Brandon Turner @BrandonAtBP and David Greene @DavidGreene24.