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Your Financial Pharmacist

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YFP Real Estate Investing 55: Partnering for Success in Long Term Rentals

Apr 30, 2022

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