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When real-estate investors talk about "turnkey" rental properties, they mean a unit that is already habitable and ready to rent out. That's what Texas-based real-estate investor Aaron Logan expected when he bought several turnkey rental properties over the last five years or so. Since Logan bought it, he's had to replace the HVAC unit, the roof, and the sump pump. Logan said he trusted that the turnkey marketing company he was working with knew that the turnkey seller would be quality. "You need a good agent, a good need a good property manager, you need a good contractor — there are other ways to track that down other than using a turnkey company," Logan said.
Persons: Aaron Logan, Logan, he's, it's, Dan Lane, Lane Organizations: Business, Facebook Locations: Texas, Birmingham , Alabama
Dan Lane has built up a portfolio of six homes and interviewed hundreds of real-estate investors. He shared with Insider five of his favorite real-estate investing books. Not only has he grown a portfolio of six rental properties, which Insider verified through property-tax documents, he's also interviewed hundreds of successful real-estate investors on his popular "Rental Income Podcast." To succeed in real-estate investing, it's important to learn about tried and tested strategies used by others. This week, Lane's shared with Insider five of his favorite real-estate investing books for new investors looking to build their portfolios.
Still, no matter what the Consumer Price Index clocks in at, it's possible that the failures of Signature Bank and Silicon Valley Bank already convinced Jerome Powell to take his foot off the gas. Silicon Valley Bank employees react to the bank's collapse Getty Images1. With the government rescuing Signature and Silicon Valley Bank depositors, not all the downside has been contained, according to Wharton finance professor, Itamar Drechsler. Silicon Valley Bank's CEO, Greg Becker, previously asked Congress to ease regulatory oversight on the bank. But, as Jefferies analysts put it, "the world changed" with Silicon Valley Bank's failure.
Dan Lane hosts the "Rental Income Podcast," where he interviews a host of real-estate investors. On the show, Lane interviews real-estate investors from all over the country using a wide variety of strategies to build up their portfolios. How Lane built his portfolioLane started off his rental property journey when he and his wife Suzanne wanted to move out of their home in Virginia in 2015. Instead of selling the property, Lane suggested they rent out the home instead when they moved into their new house. Lane said the total cash flow from his properties has allowed him to cover his living expenses.
If you missed Jerome Powell's remarks from his first day on Capitol Hill yesterday, the TLDR is that more rate hikes are coming because the economy's still running hot. The market response to Powell's testimony was anything but muted. The idea is to eventually lower inflation — which most recently clocked in at 6.4% — but the more rate hikes we see, the greater the risk of a recession. So in short: stocks sold off, bond yields jumped, and traders eyed greater potential for a bigger rate hike this month. "If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes," Powell said.
He shared with Insider some of his favorite examples of real-estate investing changing lives. Eight years ago, when Dan Lane wanted to get into real-estate investing, he turned to podcasts for strategy ideas from other investors. Over the course of those 400-plus episodes, Lane has heard scores of ways that real-estate investing has changed people's lives. Depending on the cost of homes and an investors' income levels, acquiring rental properties can be difficult through down payments. For a deeper look at other real-estate investing strategies — including methods for prospective investors starting out with little money — click here.
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