Episode #872

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.

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FIRE by 27 Using the “Chick-Fil-A Rule” of Real Estate:
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How To Rent Your House: A Step-By-Step Guide:
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Use RentRedi to Screen Tenants, Collect Rent, and More:
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Show notes at: https://link.chtbl.com/BPRE


00:00 Intro

01:46 Will Your House Work?

05:22 Look at Rental Comps

07:45 Buy in THESE Areas

11:07 Amenities and Finishes to Add

16:37 Decreasing Your Liability

20:06 Get (the Right) Insurance

22:52 Screen Tenants

28:53 Collect Rent

30:31 Tax Benefits to Take Advantage Of

33:07 What to AVOID