Rental Income Podcast With Dan Lane From Å Factory Job To $10K/Month In Rental Income With Joe Hammel (Ep 547)
Nov 11, 2025
Joe Hammel, a real estate investor, left his factory job to focus on rental properties and now enjoys a profit of $10,000 a month. He shares insights into building a portfolio of 24 properties, primarily single-family homes, emphasizing total returns rather than just cash flow. Joe discusses the types of properties yielding the best investments, his strategies for self-management, and how he finances growth. Plus, he reveals details of a recent purchase that demonstrates his effective approach to real estate.
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First Deal: Owner-Occupied To Rental
- Joe started by buying a house he lived in, then rented it after one year of occupancy.
- He signed his first official lease on October 1, 2020 and scaled from there to 31 doors.
Two-Market Portfolio Strategy
- Joe views his portfolio as built in two markets: early low-rate purchases and later high-rate buys.
- He focuses on equity growth now and plans to refinance higher-rate loans later to boost cash flow.
Use 15% Reserve And Keep Cash Reserves
- Track total rent, PITI, and hold reserves; Joe collects about $42,500 rent and pays $25,700 in PITI.
- Budget roughly 15% for vacancy/maintenance and keep $50k–$60k reserves for big repairs.