Rental Income Podcast With Dan Lane

Every real estate investing story doesn't have a good ending.  Jim Adams is proof of that.  Jim built an empire overnight.  He found an estate sale that included 70 rentals for his first purchase.  He than purchased another 30 properties on his own.

In a short period of time, he built an empire of 100 houses, and had a staff of 20 people.  When the market crashed, Jim lost all of his rentals, plus his personal house, and his cars.

A lot of people would find it difficult to move on after a loss this big.  But, not Jim Adams!  Today, Jim has re-built his life and is doing great.  On this episode, Jim shares what he would do differently today, and shares how he has moved on with his life.

What he would do differently:

He would buy houses subject to
He would buy nicer, higher end houses
He would buy fewer houses

Favorite Real Estate Book
Secrets Of A Millionaire Landlord by Robert Shemin
Other Advice:
Don't let people know you are the owner of the property.  Have your LLC own your property, and present youself to tenants as the lowly landlord.

Jim's Podcast:

Family Matters First

Direct download: Rental009.mp3
Category:Business -- posted at: 3:00am EDT