On today’s episode of The BiggerPockets Podcast, Josh and Brandon sit down with Bill Powers, a real estate investor from the Chicago suburbs, to learn how he went from zero to over 70 units in five yearswhile focusing on lease options — also known as “rent to own.” This powerful strategy is one that anyone can begin using in their business to achieve more cash flow and equity — and today, you’ll learn all the details. Get your pen and paper out for this show — you’ll want to take some notes! In This Episode We Cover: How Bill got started in real estate All the mistakes he made on his first house Tenant screening must-haves How exactly rent-to-own works What the first look program is What you should know about the 2% rule How to not be a predatory investor Tips for running your business the right way A discussion on “instant equity“ Why some people are not fulfilling their lease options A profile of common tenants who go for rent to own What is Dodd-Frank is and how it affects people who use lease options Things to note before going for a lease option What the future of his business is How many hours he works in a week And SO much more! Links from the Show How I Found My Five Latest Real Estate Deals! (Five Different Strategies) BiggerPockets Webinar BiggerPockets Forums Zillow Rent.com Trulia Secure Pay One Books Mentioned in this Show The Book on No or Low Money Down by Brandon Turner The Book on Estimating Rehab Cost by J. Scott The Golden Rules by Bob Bowman Tweetable Topics: “Where rents are highest and acquisition of capital is lowest, that’s where we focus.” (Tweet This!) “I think you can always flip. I think there’s spread on properties all the time.” (Tweet This!) “There are ways to lose money on flips even if you make money — because opportunity cost is a big factor on that.” (Tweet This!) “Don’t be enticed completely by the flip side of things. Look long term.” (Tweet This!) Connect with Bill Bill’s BiggerPockets Profile Bill’s Company Website Learn more about your ad choices. Visit megaphone.fm/adchoices

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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