EP049 Replacing Your Job Income with Five Rental Properties, Infinite Returns and Profiting by Solving Other People's Problems with Nick Watkins
Two-Thirds of the way through my conversation today, Nick Watkins drops a huge bombshell: He's managed to generate as much money in rental profits as he makes in his full-time job - and he's done it with only two duplexes and three single-family properties!
Nick takes me step-by-step through his process, how his desire to help others solve their problems led him to purchase rental property, how he's used creative financing to help him achieve 'infinite returns', and how he's learned to manage his properties and his tenants.
Nick also shares stories about the tenant who threatened him and his family, the subsequent eviction, and the consequences of not doing thorough background checks and tenant screening.
Nick & I also discuss the pro's & con's of hiring a professional third party management company, and whether or not the additional expenses are justified.
Nick shares a lot of great information, stories and tips. You can contact him through email at NickWatkinsHouses@yahoo.com
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