Episode Details

Frank Cava discusses how to use rental properties to build wealth. Whether you’re building new and holding as rentals, buy and hold, or BRRRR, rental properties are the key to becoming rich.

Video replay of my interview with Frank Cava about Using Rental Properties to Build Wealth:

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More about Frank Cava and Using Rental Properties to Build Wealth:

In real estate since I was 5 years old

Worked my way up from the bottom for one of the largest homebuilders for 12 years

Built more than 2,000 houses

Sold more than 2,500 houses

Developed more than 3,000 lots

Managed teams of 70+ with annual sales of $75 million to $200 million.

Started on my own in 2009 …and closed over $1 billion in real estate 

He also managed, trained, and cultivated over 300 employees

CG Leadership Team

More about Frank Cava: www.frankcava.com

Facebook: https://www.facebook.com/FrankCava

Instagram: https://www.instagram.com/frank.b.cava

fcava@cavacompanies.com

SHOW NOTES from Using Rental Properties to Build Wealth:

1. Once you can consistently generate leads, then you’re in business. Otherwise, you’re a hobbyist.

2. Learning to pre-qualify leads will save you a ton of time on people who aren’t really going to sell.

3. Debt-service covered ratio is big. Banks want you to rent a property for about 1.2X what your costs are.

4. Path of Progress: You want your rental properties to be where the up-and-coming areas are so that your property will increase in value as the area improves.

5. Track your profits to see whether wholesaling or flipping is better.

6. Do your repairs/rehab on the property before you rent it out so you don’t have to do more expensive repairs later.

7. Take breakable things out of the house to reduce your repair calls (e.g., instead of a built-in microwave have a countertop model that the renter has to replace if they break).

8. When to form your own property management company? After you own 27-30 rental properties; that’s when it makes financial sense.

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