<p>On today’s episode of <a href="https://www.biggerpockets.com/podcast">The BiggerPockets Podcast</a>, Josh and Brandon sit down with Bill Powers, a real estate investor from the Chicago suburbs, to learn how he went from zero to over 70 units in five yearswhile focusing on lease options — also known as “rent to own.” This powerful strategy is one that anyone can begin using in their business to achieve more cash flow and equity — and today, you’ll learn all the details. Get your pen and paper out for this show — you’ll want to take some notes!</p><p>In This Episode We Cover:</p><ul>
How Bill got started in real estate
All the mistakes he made on his first house
Tenant screening must-haves
How exactly rent-to-own works
What the first look program is
What you should know about the 2% rule
How to not be a predatory investor
Tips for running your business the right way
A discussion on “instant equity“
Why some people are not fulfilling their lease options
A profile of common tenants who go for rent to own
What is Dodd-Frank is and how it affects people who use lease options
Things to note before going for a lease option
What the future of his business is
How many hours he works in a week
And SO much more!
Links from the Show
Books Mentioned in this Show
Tweetable Topics:
- “Where rents are highest and acquisition of capital is lowest, that’s where we focus.” (Tweet This!)
- “I think you can always flip. I think there’s spread on properties all the time.” (Tweet This!)
- “There are ways to lose money on flips even if you make money — because opportunity cost is a big factor on that.” (Tweet This!)
- “Don’t be enticed completely by the flip side of things. Look long term.” (Tweet This!)
Connect with Bill
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