BiggerPockets Real Estate Podcast
Business:Investing
So, you want to know how to rent your house out. Maybe you’re upsizing or downsizing, moving away for work, or just want to buy another primary residence and take advantage of low-money down loans. Whatever your reason, renting out your primary home can be a phenomenal way to get into the real estate investing game. You’ll make passive income, all while holding on to the equity in your home and appreciation potential. So, how do you start?
David, Henry, and Rob are all on the show today to give you a step-by-step guide to turning your primary residence into a rental property. Hundreds of properties have been owned between these three investing experts, and all of them have turned their primary residences into rental properties multiple times. But before you rent out your home, you’ll need to know if your home is even rentable.
We’ll tell you exactly what you need to know to decide whether or not your home would make a good rental, how to make the most money possible off your home with affordable finishes, added amenities, and upgrades, how to decrease your liability and keep your property safe, insuring your rental, screening tenants, collecting rent, and more. If you’re a beginner landlord or are renting out your home for the first time, you CANNOT miss this.
In This Episode We Cover:
How to convert your primary residence into a rental property
How to know whether or not your home would even make a profitable rental
Areas to invest in and what potential renters will look for
Long-term vs. short-term rental investing and how to know which works best for your home
Affordable finishes and amenities you can add to rent out your home for more
What you MUST fix in your home to keep your liability as low as possible
Landlord insurance and the one added policy you (probably) should get
How to screen tenants, collect rent, and get substantial tax benefits
Whether to invest in out-of-state rentals or buy property in your backyard
And So Much More!
Links from the Show
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Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
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Ask David Your Question
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Henry's BiggerPockets Profile
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Rob's BiggerPockets Profile
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Rob's X/Twitter
Rob's YouTube
Check Out the BiggerPockets Blog Posts for Beginners
FIRE by 27 Using the “Chick-Fil-A Rule” of Real Estate
How To Rent Your House: A Step-By-Step Guide
Use RentRedi to Screen Tenants, Collect Rent, and More
Book Mentioned in the Show
Long-Distance Real Estate Investing by David Greene
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-872
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950: The Easiest Way to Invest in Real Estate in 2024 w/Terrence Terrell
949: Seeing Greene: Is Losing $800/Month in Cash Flow Worth $200K+ Equity?
948: 10 Rentals in 5 Years by Buying in Overlooked Short-Term Rental Markets w/Jarrod Tucker and Yiwei Cheng
947: 2024 Deals We’re Doing with High Cash Flow and Rock-Bottom Rates (4.75%!)
946: How to Supplement Your Income with Real Estate (So You Can Do What You Love) w/Juliet Lalouel
945: Seeing Greene: Stolen Properties and Why Your Rate Doesn't (Really) Matter
944: 3 Ways We Find Real Estate Deals Even During the Harshest Housing Markets
943: BiggerNews: Can’t Qualify for Another Mortgage? Try THESE Investor Loans w/Jeff Welgan
942: Building Wealth with OLD Homes and How to Keep Tenants for Longer w/Lisa Field Moore
941: Seeing Greene: Are Home Warranties Worth It & When to Pay Off Debt vs. Invest?
940: Crucial Questions to Ask an Agent and How to Negotiate Commissions w/James Dainard
939: BiggerNews: 100% Financing for First-Time Home Buyers is HERE w/Jeff Welgan
938: Scaling from 0 to 20+ Doors Using These "Self-Management" Tools & Tips w/Amelia McGee and Grace Gudenkauf
937: Seeing Greene: Paying Off Rentals, Estimating Crime, & Replacing Your Salary
936: 4 Ways to Start Investing in Real Estate with NO or LOW Money
935: BiggerNews: Investing with High Rates, Stubborn Inflation, & Low Supply w/Kathy Fettke
934: How to Pay Less Taxes by Buying Real Estate (1 Write-Off You’re Overlooking) w/Brandon Hall
933: Designing for Dollars: 7 Design Tips That Could Double Your Airbnb Revenue w/Erica Dike
932: Seeing Greene: When NOT to Build an ADU and How to Invest $300K
931: How to Build a Real Estate Portfolio from Scratch in 2024
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