96: Rental Property How To

Rental properties can feel overwhelming until you break them into steps. In this episode, Katy and Alissa answer listener follow-up questions from their earlier investing episodes and walk through a practical rental property how-to—without making it feel like you need a finance degree or a personality transplant to get started.

Alissa shares what helped her feel confident buying her first rental, what numbers she looks for, how she screens tenants, and the systems that make managing rentals feel manageable. Katy adds real-world tips for listing, safety, and creating a process that keeps you professional and consistent.

This is a grounded, step-by-step conversation for agents (and humans) who want to build wealth slowly and thoughtfully.

Here's what we cover: - Step one: saving and building financial cushion - Why 20% down matters (and alternatives if you can't do that yet) - The "buy, live, rent, repeat" strategy - Why professional photos are worth it for rentals - Where to list rentals (and why you shouldn't post everywhere at once) - A copy-and-paste "non-negotiables" message that filters inquiries fast - Open-house style rental showings for efficiency and safety - Screening: credit/background checks + landlord reference calls - What to ask a previous landlord (including the one question that tells you everything) - Insurance updates when converting a home to a rental (and why over-insuring can be smart) - Rental reserves and why you shouldn't spend rental cash flow - Short-term vs. long-term rentals and property management realities - Selling rentals in a hot market, 1031 timing pressure, and "what would you buy next?" - LLC myths and why most mortgaged rentals can't be titled in an LLC - Tracking expenses and write-offs with a simple spreadsheet - What to do if you move out of state (and why it might not matter)

People, Products & Resources Mentioned: - Zillow rental listings / Zillow applications (policies may vary) - Tenant screening services (credit/background) - Venmo / Zelle for electronic rent collection - Airbnb / VRBO (short-term rentals) - Dave Ramsey Financial Peace University - Jamie Trull + "Financial Literacy for Women" - Excel/Spreadsheet tracking - Umbrella insurance policies - 1031 exchange concept (talk to a CPA)

Leave us a review at http://ratethispodcast.com/hustlehumbly Get your FREE Database Template: http://hustlehumblypodcast.com/starthere Email Templates 101: http://emailtemplates101.com Agent Systems 101: http://agentsystems101.com All Resources: http://hustlehumblypodcast.com Submit your topic ideas and toasts to [email protected]

Music: Straight A's by Connor Price → https://connorprice.shop/ The Good Life by Summer Kennedy → https://soundcloud.com/summerkennedy/the-good-life Be The One by Matrika → https://uppbeat.io/t/matrika/be-the-one

— Rate, Review & Follow on Apple Podcasts If you love Katy and Alissa and the Hustle Humbly Podcast, please consider leaving a review. Your support helps us reach more Realtors who want practical systems and a sustainable business.