BiggerPockets Real Estate Podcast

626: How “Turnkey” Rentals Can Help You Build Real Estate Riches Faster w/Zach Lemaster

Jun 23, 2022

Zach Lemaster, a former optometrist turned real estate investor and CEO of Rent to Retirement, shares his transformative journey from six-figure student loan debt to thriving in real estate. He discusses the appeal of turnkey rental properties, which let investors enjoy passive income without management hassles. The conversation dives into overcoming traditional employment mindsets, financing strategies, and effective tenant management. Zach also highlights a luxury short-term rental deal, offering insights into successful negotiations and the importance of teamwork in real estate.

01:05:59

Episode guests

Zach Lemaster

AI Chapters

Episode notes

Intro

2min

Overcoming the W2 Mindset in Entrepreneurship

2min

Navigating the Real Estate Transition

8min

Financial Commitment and Real Estate Success

13min

Navigating Turnkey Properties and Real Estate Strategies

23min

Streamlining Rental Management and a Deep Dive into a Luxury Deal

4min

Navigating Real Estate Financing Challenges

13min

Turnkey rental properties have become a fan favorite for rookie real estate investors and investors who don't have enough time to manage their rehabs and rental properties. Turnkey real estate is marketed as a way for real estate investors to buy a rehabbed property, often with tenants and management in place, leaving them with just rent checks to collect. One company, Rent To Retirement, has become one of the most popular places to find turnkey investment properties—and for a good reason.

Behind the helm is Zach Lemaster, former optometrist, and current real estate investor. After going through eight years of school, Zach was left with six figures in student loan debt and a job that required him to be on-site for the majority of his waking hours. Like most new real estate investors, Zach had hit a breaking point and realized he needed something else that could provide him income, without the time commitment.

After shelling out a large sum on a wholesaling course, Zach began using his assignment fee profits and salary from his job to buy rental properties. Every year he would buy more and more rentals, allowing him to finally scale into what he calls “turnkey commercial” (triple net) properties that give him sizable rent checks without any of the management headaches. Zach has a real estate investing path worth repeating, and he explains how he did all of it in this episode.

In This Episode We Cover:

How to use wholesaling to make extra cash to invest in real estate

The dos and don’ts of long-distance real estate investing (don’t make Zach’s mistake)

When to reinvest rental property profits so you can retire even sooner

The biggest challenges you’ll face when building a real estate portfolio

Turnkey rentals and why they’re a great option for busy investors

The importance of a great property manager and how a bad one can ruin your deals

And So Much More!

Links from the Show

BiggerPockets Youtube Channel

BiggerPockets Forums

BiggerPockets Pro Membership