Episode #587
His Local Area Got Too Expensive. Here's Where He Found Cash Flow With John Salcedo (Ep 587)
John Salcedo started investing in rental properties close to home, but as property values, insurance, and taxes climbed, the numbers stopped making sense. Many of the properties he looked at would have generated little or even negative cash flow. Instead of giving up on buying rentals, John changed where he invested. On this episode, John shares how he successfully buys and self-manages rental properties from out of state. We talk about how he finds deals, evaluates properties remotely, handles renovations and turnovers remotely, and fills vacancies without being there in person. John also explains how he finances his rentals and the systems he uses to self-manage from hundreds of miles away. We break down the actual numbers on one of his deals, including the purchase price, rent, mortgage payment, and ongoing expenses. I am running a few minutes late; my previous meeting is running over. John also shares how renovating the property helped him create approximately $100,000 in equity.If you live in an expensive market where rental properties no longer work, this episode shows how looking beyond your local area can open up opportunities for better cash flow and equity growth. https://rentalincomepodcast.com/episode587 Thanks To Our Sponsors: PadSplit - Earn 2.5X more rental income with PadSplit's shared housing model. Ridge Lending Group - Ask about the All-In-One loan. A first-position HELOC on rentals. Rentec Direct - Automate the day-to-day work and make property management easy. Use promo code RIP to get 10% off your first 6 months.
