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

<p>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. </p><p>On today’s show, we talk with&nbsp;<strong>Ryan Murdock</strong>, 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.</p><p>In This Episode We Cover:</p><ul><li>How&nbsp;<strong>Ryan started</strong>&nbsp;by reading a book</li><li>The beauty of&nbsp;<strong>house hacking</strong></li><li>Why he started his own&nbsp;<strong>property management company&nbsp;</strong></li><li>Tips for dealing with&nbsp;<strong>inherited tenants</strong></li><li>How to find&nbsp;<strong>good agents</strong></li><li>Thoughts on having an agency to “<strong>sponsor</strong>” you</li><li>How to know when to&nbsp;<strong>quit your job</strong></li><li>The things he misjudged while&nbsp;<strong>buying houses</strong></li><li>How&nbsp;<strong>capital</strong>&nbsp;plays a huge role</li><li>How to&nbsp;<strong>accurately estimate</strong>&nbsp;costs when fixing properties</li><li>How many&nbsp;<strong>rental units</strong>&nbsp;he has</li><li>Tips for&nbsp;<strong>finding properties</strong>&nbsp;through the&nbsp;<a href="https://www.biggerpockets.com/marketplace" target="_blank">BiggerPockets Marketplace</a></li><li>What&nbsp;<strong>metrics</strong>&nbsp;he uses to decide on a property</li><li>How he&nbsp;<strong>funded</strong>&nbsp;his deals</li><li>What he would do&nbsp;<strong>differently</strong>&nbsp;if he started again</li><li>The&nbsp;<strong>BRRRR strategy</strong></li><li><strong>And SO much more!</strong></li></ul><p>Links from the Show</p><ul><li><a href="http://biggerpockets.com/forums" target="_blank">BiggerPockets Forums</a></li><li><a href="https://www.biggerpockets.com/forum