Introduction
Key takeaways
- If you are new, start with a single-family turnkey rental. Most people with a net worth under about $500,000 learn the basics this way with less on the line.
- The lessons follow the order you buy in: market, numbers, provider, financing, inspection, insurance, operations, taxes and exit.
- Be careful of marketing that pushes you to buy before you understand the deal.
From my own investing
Before my first rental in 2009, my portfolio looked like everyone else's: stocks, bonds and mutual funds. I wasn't really getting anywhere; I was on the 30- or 40-year plan. Then I bought a rental in the Maple Leaf neighborhood of North Seattle. I was in my early 20s with no wife or kids yet, so the cash flow felt like a lot of beer money. I knew I needed to keep doing it.
Lane Kawaoka
Start Here
I recommend that most people (especially those with a net worth under $500,000) start out with single-family homes as opposed to multi-family homes due to the following reasons:
- Learn the basics
- Learn to be a remote investor
- Obtain experience with less on the line
“Turnkey rentals… It’s like climbing Mount Fuji…. It’s good to do once, but you never do it again.”
Be careful of the marketing propaganda out there (see below), trying to force you to take the leap.
Turnkey rentals or syndications are better than the stock market, so let’s get educated and then go in eyes wide open!
Group Coaching Call Replays
These are recordings from the group coaching calls of our Remote Investor Incubator, which we ran from 2017 to 2021 when many of our investors were non-accredited. Today our investors are all accredited.
Call 1: Program Orientation
The podcast behind this course
Your First Rental Property
Short episodes for new investors on buying and running out-of-state rentals: markets, numbers, property managers and the mistakes to skip.
Listen on Apple PodcastsWatch on YouTubeThis content is provided for informational and educational purposes only and does not constitute an offer to sell or a solicitation to buy any security or investment product. All investors must review and sign the official offering documents, including the Private Placement Memorandum (PPM), which governs and supersedes any prior communication. Tax and legal outcomes vary by individual circumstance. We do not provide tax, legal, or accounting advice—investors should consult qualified professionals before making investment decisions. Click Here to see full disclaimer.