Your Financial Pharmacist YFP Real Estate Investing 55: Partnering for Success in Long Term Rentals
Apr 30, 2022
31:00
Paul Hinckley, PharmD, CSPI, makes his second appearance on the podcast, sharing his most recent rental portfolio growth and best practices for success in partnerships for long-term rental investments.
Key Points From This Episode
- An introduction to Paul Hinckley and his professional background.
- The motivation behind Paul’s decision to scale his real estate portfolio.
- How Paul was able to find the real estate investment property he recently purchased.
- The importance of being patient when purchasing a property.
- Paul’s strategy for funding real estate purchases.
- Why Paul chose to deviate to a triplex real estate.
- Benefits from investing continually in one area.
- What Paul’s pet policy is and how this fills a gap in the market.
- Methods to ensure that inherited tenants will not become a problem.
- Details about Paul’s current partnership in real estate investing.
- Peace of mind that comes with working with a partner.
- The agreements to be put in place when working with family and friends.
- The approach that Paul has taken to handle future problems.
- Experience Paul has with single-family home purchases and renovations.
- A brief highlight of the rental market in Paul’s investment area.
- Future real estate investment plans that Paul has.
- Advice that Paul has for people looking at forming a partnership.
Links Mentioned on Today’s Episode