Dustin explains how to structure rental properties so tenants cover every cost: management, taxes, repairs, mortgage. The key is itemizing all expenses, setting your target profit as a line item, and only buying properties cheap enough to guarantee it.
$300 per month.
People ask me, well, Dustin, how do you afford a property manager? And I say, I don't, I don't afford a property manager. Like I don't have to get a job to pay for the property manager. And I don't pay my property manager. I don't pay my taxes, I don't pay my mortgage, I don't pay for repairs, I don't pay for. I don't pay for any of that stuff. I don't have to get a job to do that. My tenants pay for that. And I make passive income. So what we do is we build on all of our expenses. We itemize now all the expenses and your property manager is one. And this is something most investors don't do. Your profit, your income that you need to make every single month needs to be an expense line item. So you're not guessing. So if no exact profit, 100%, I said I need to make $300 a month on this property. I'm not going to buy it unless I get the price low enough so that I can then make sure I'm making the $300 a month. And then the property management paid for taxes, insurance, everything else is paid for. And I know I'm making that money in passive income.
