Tenants, Evictions, & The Dark Side of No Money Down with Ryan Murdock

In this article

People often toss around the term “passive income” when it comes to owning rental properties. And, in truth, there are ways to make managing tenants passive. But for the majority of investors, being a landlord can be tough. On today’s show, we talk with Ryan Murdock, an investor and property manager from Maine about the lessons he’s learned building up his rental portfolio. Ryan also shares his story of going to the brink of financial ruin with a “no money” deal and how to avoid losing your shirt when doing creative financing.

Click here to listen on iTunes.

Listen to the Podcast Here

Watch the Podcast Here

Help Us Out!

Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds and instructions can be found here. Thanks! We really appreciate it!

This Show Sponsored By

We just wanted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!

Learn more by visiting RealtyShares.com/biggerpockets!

Fire Round Sponsor

Check out SimpliSafe Security’s DIY home security systems; an affordable, wireless, cellular, and customizable system that doesn’t require a contract!

Try it today with a discount: simplisafepockets.com

In This Episode We Cover:

• How Ryan started by reading a book
• The beauty of house hacking
• Why he started his own property management company 
• Tips for dealing with inherited tenants
• How to find good agents
• Thoughts on having an agency to “sponsor” you
• How to know when to quit your job
• The things he misjudged while buying houses
• How capital plays a huge role
• How to accurately estimate costs when fixing properties
• How many rental units he has
• Tips for finding properties through the BiggerPockets Marketplace
• What metrics he uses to decide on a property
• How he funded his deals
• What he would do differently if he started again
• The BRRRR strategy
• And SO much more!

Links from the Show

• BiggerPockets Forums
• BiggerPockets Marketplace
• BiggerPockets Keyword Alerts

Books Mentioned in this Show

• Set for Life by Scott Trench
• Property Management For Dummies by Grisworld
• The book on investing with Low or No Money Down by Brandon Turner
• The E-Myth by Michael Gerber
• The ONE Thing by Gary Keller and Jay Papasan

Tweetable Topics:

• “Don’t just quit and hope for the best.” (Tweet This!)
• “Creative investing is not about being broke. It’s just about putting together a deal without your own money.” (Tweet This!)
• “You either win or you learn.” (Tweet This!)

Connect with Ryan

• Ryan’s BiggerPockets Profile
• Ryan’s Property Management Website
• Realty of Maine

Show Preview

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.