Warning! Risks of Owning Rental Property

Spencer and I know the risks of owning rental property all too well.

In fact, the first home I ever leased was a disaster.

For those of you in the rental business, you are used to getting calls from insurance companies, promising the world, including extra rent.

I was so pumped to rent my first rental property to one of these groups.

And, for 6 months, it was great!

Then, after the 6th payment, the insurance company notified me that they were done paying. 

The homeowner, whose home had burned down, told me his house wasn't completed and that he wasn't moving.

It was a disaster getting him out!  And that was my first rental home!

I love this video, because Spencer (who sold me that house by the way) does an awesome job of warning you of the potential risks of owning a rental home.

Keep in mind when you buy a rental house, you are in business.  And those of us who have been doing this for many years know that rental houses aren't always the "mailbox" money some videos and podcasts claim them to be.

So, if you are new to rental property, I HIGHLY suggest you check this video out.  I wish I was able to watch this prior to starting my career.  

Like many of you, we were ordering tapes from late night infomercials to get ongoing education.