Episode 637
How to Buy Your First Rental Property (Without Ever Seeing It) w/ William Palmer
Learn how to buy your first rental property without ever seeing it in person! William Palmer shares his proven system for successful out-of-state real estate investing, developed through Master Passive Income's coaching program.
Discover essential strategies including:
- How to properly vet property managers in new markets
- Finding cash-flowing properties in the right locations
- Building your real estate team from a distance
- What to look for in your first investment property
- Managing risks when investing remotely
William reveals his journey from law enforcement to successful real estate investor, breaking down exactly how he purchased his first property in Ohio without ever visiting the state. He shares practical tips for finding properties that generate $150-300 monthly cash flow and explains why focusing on basic 3-bed, 2-bath homes in strategic markets is key for beginners.
Whether you live in an expensive market or want to expand your portfolio across state lines, this episode provides the blueprint for building wealth through remote real estate investing. Learn how to leverage property managers, analyze deals, and scale your business using proven systems that work.
Want to learn more about building your real estate portfolio? Visit masterpassiveincome.com to discover how their coaching program can help you achieve financial freedom through rental properties.
#realestateinvesting #passiveincome #passiveincomeideas #financialfreedom #realestatecoaching
CHAPTERS:
00:00 - Intro
00:23 - William's Journey in Real Estate Investing
03:06 - Key Qualities of a Property Manager
09:16 - Understanding Your "Buy Box"
10:42 - Achieving Desired Cash Flow
17:53 - Surprises from Coaching Experience
19:22 - Coaching's Impact on Investing
20:28 - Personal Investing Changes Through Coaching
21:36 - Inspiring Success Story
27:14 - Coaching: Investment vs. Expense
29:20 - Avoiding Rush in Strategy Selection
30:36 - Rapid-Fire Round Preparation
30:55 - Common Lies Among Real Estate Investors
31:30 - Advice for Younger Self in Real Estate
32:10 - Recommended Books for Investors
32:50 - Most Impactful Strategy or Tool for Success
RealDealCRM.com
RealDealCRM is your Real Estate Investing Virtual Assistant. A Real Estate Investing CRM for Real Estate Investors created by Real Estate Investors. SMS, Stealth Voicemails, Phone, Voicemail, Funnels, and AUTOMATION in a single platform! Check out more details at RealDealCRM.com
LIKE • SHARE • JOIN • REVIEW
- Website
- Join the REI Mastermind Network on Locals!
- Apple Podcasts
- Google Podcasts
- YouTube
- Spotify
- Stitcher
- Deezer
SUPPORT THE SHOW!
- Self Managing Your Rental Properties? Get 6 months of RentRedi for $1! Click this link!
- If you are new to Wealthfront, and open a Cash Account, you'll get a 0.50% APY boost for 3 months.
- Open an Automated Index Investing Account or Automated Bond Portfolio, you'll earn $5,000 managed for free.
- Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo
- Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729
"You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - Jack
