My First Keys podcast

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Innhold levert av Garret Wong. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Garret Wong eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.

<div class="span index">1</div> <span><a class="" data-remote="true" data-type="html" href="/series/curated-questions-conversations-celebrating-the-power-of-questions">Curated Questions: Conversations Celebrating the Power of Questions!</a></span>

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Curated Questions: Conversations Celebrating the Power of Questions!

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for 10 dager sidenfor 10d ago

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Curated Questions: Conversations Celebrating the Power of Questions Hosted by Ken Woodward, Curated Questions is a thought-provoking podcast that celebrates the art and science of asking profound questions. This podcast is for curious minds who understand that the right question can unlock new perspectives and drive personal growth. What to Expect Insightful Conversations: Experts from diverse fields share their journey in mastering the craft of inquiry, revealing how it has transformed their lives and careers. Practical Techniques: Gain valuable skills to improve your questioning abilities, applicable in both personal and professional settings. Thought-Provoking Topics: Explore how questions shape leadership, personal transformation, and societal discourse. Why Listen? In an age of abundant information, Curated Questions reminds us that true wisdom lies in asking better questions. This podcast will help you: 1. Enhance critical thinking 2. Improve communication 3. Gain new perspectives on complex issues 4. Develop a nuanced understanding of the world Join Ken Woodward and his guests as they explore the transformative power of thoughtful inquiry. Curated Questions is more than just a podcast – it's an invitation to embrace curiosity, challenge assumptions, and unlock your full potential through the art of asking better questions. Subscribe now and embark on a journey to master the craft of inquiry, one question at a time. Website: CuratedQuestions.com IG/Threads/YouTube: @CuratedQuestions

My First Keys

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Welcome to MyFirstKeys, the ultimate resource for anyone looking to confidently purchase and manage rental properties—whether you’re just starting out or adding doors to an existing portfolio. Hosted by Garret Wong, a full time real estate investor and seasoned property manager with nearly 30 years of experience, My First Keys dives deep into the realities of real estate ownership. Originally a research scientist specializing in molecular biology, Garret transitioned into property investment and quickly grew a personal portfolio of 43 buildings and 75 doors (while working full time!). He then founded a property management company that has overseen over 1 billion dollars in assets, with industry-leading success rates in rent collections (98.6%) and legal proceedings (98.5%). Each episode delivers practical, real-world advice on acquiring a property or scaling a portfolio, plus tenant screening, maintenance, legal know-how, and more—so you can acquire, operate, and scale your investments with confidence. Tune in to learn from Garret’s unique blend of analytical thinking and field-tested experience, and discover how to take charge of your journey to real estate wealth. Join our Community Here! https://info.upperedgepm.com/myfirstkeys

21 episoder

My First Keys

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21 episoder

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Furnished vs. Unfurnished Rentals, What is the Best Choice for Landlords? 14:03

for 3 dager siden14:03

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14:03

We love giving back! Check out our online Community HERE where you can learn how to purchase your first property, manage your existing property, or scale your portfolio! Podcast Episode Title: "Furnished vs. Unfurnished Rentals, What is the Best Choice for Landlords??" Summary: One key decision landlords face is whether to offer a furnished or unfurnished rental. While a furnished unit can bring in higher rent, it also comes with increased costs and turnover. In this episode, we break down the pros and cons of each option, share real-world examples, and help you decide which approach makes the most financial sense for your investment strategy. Timestamps: [00:00:00] Introduction: Should you furnish your rental property or leave it unfurnished? [00:04:30] The Investor Mindset: Why so many landlords consider furnishing their rental and the common mistakes they make. [00:07:30] The Pros and Cons of Furnished Rentals: Higher rent potential, short-term tenant appeal, but also more turnover and maintenance. [00:10:00] The Pros and Cons of Unfurnished Rentals: More stable income, lower maintenance, but potentially lower rent. [00:12:00] Key Takeaways: How to analyze your market, crunch the numbers, and decide which rental strategy is best for your situation. About Garret Wong Garret Wong is the founder of the My First Keys podcast, the Rent It Yourself Community and a seasoned property manager with nearly 30 years of experience. Originally a research scientist specializing in molecular biology, Garret transitioned into property investment, where he’s grown a personal portfolio of 43 buildings and 75 doors into a property management company that has managed over 1 billion dollars in assets with a 98.5% success rate in legal proceedings and a 98.6% rent collection ratio. Known for his practical approach and strategic insights, Garret has developed an extensive SOP library to manage everything from tenant selection to maintenance, helping landlords and property managers build a reliable, resilient system. Connect with Garret: My First Keys Personal Website Wong Capital Facebook LinkedIn Instagram Get Involved: Subscribe to My First Keys and follow us on social media for the latest updates. Contact: For feedback or questions, reach us at https://garretwong.com/contact/…

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Single-Family Homes vs. Condos Which Rental Property is Right for You? 21:52

for 10 dager siden21:52

21:52

We love giving back! Check out our online Community HERE where you can learn how to purchase your first property, manage your existing property, or scale your portfolio! Podcast Episode Title: "Single-Family Homes vs. Condos Which Rental Property is Right for You?" Summary: Lets break down the pros and cons of investing in single-family homes versus condos as rental properties. Many investors jump in without fully understanding the differences in cash flow potential, tenant turnover, and appreciation rates. By the end of this episode, you'll have the insights to determine which property type best aligns with your investment strategy. Timestamps: [00:00:00] Introduction: Lets break down single-family homes vs. condos [00:02:30] Single-Family Homes as Rentals – Why SFHs are popular, their advantages , and key drawbacks. [00:05:30] Condos as Rentals – Lower entry cost, easier maintenance, but challenges like condo fees, resale issues, and board restrictions. [00:8:00] Direct Comparison: SFH vs. Condo – Breaking down purchase price, appreciation potential, cash flow stability, maintenance responsibilities, and exit strategies. [00:10:00] Key Takeaways – How to choose between SFHs and condos based on your investment goals, risk tolerance, and level of involvement as a landlord. About Garret Wong Garret Wong is the founder of the My First Keys podcast, the Rent It Yourself Community and a seasoned property manager with nearly 30 years of experience. Originally a research scientist specializing in molecular biology, Garret transitioned into property investment, where he’s grown a personal portfolio of 43 buildings and 75 doors into a property management company that has managed over 1 billion dollars in assets with a 98.5% success rate in legal proceedings and a 98.6% rent collection ratio. Known for his practical approach and strategic insights, Garret has developed an extensive SOP library to manage everything from tenant selection to maintenance, helping landlords and property managers build a reliable, resilient system. Connect with Garret: My First Keys Personal Website Wong Capital Facebook LinkedIn Instagram Get Involved: Subscribe to My First Keys and follow us on social media for the latest updates. Contact: For feedback or questions, reach us at https://garretwong.com/contact/…

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Pros and Cons of Smaller Multifamily Investments 11:47

for 17 dager siden11:47

11:47

We love giving back! Check out our online Community HERE where you can learn how to purchase your first property, manage your existing property, or scale your portfolio! Podcast Episode Title: "Pros and Cons of Smaller Multifamily Investments " Summary: Duplexes, triplexes, and fourplexes. These properties offer a great balance between single-family homes and large apartment complexes, but they also come with unique challenges. We’ll discuss zoning laws, fire safety regulations, rent control implications, and key factors every investor should consider before purchasing a smaller multifamily property. Timestamps: [00:00:00] Introduction: why smaller multifamily buildings are worth considering. [00:02:30] Why Invest in Smaller Multifamily Buildings? – Cash flow potential, scalability, and market advantages. [00:05:30] Key Challenges and Regulatory Considerations – Fire safety laws, zoning issues, and licensing requirements that investors must be aware of. [00:8:00] Rent Control and Financial Implications – Understanding how rent control affects profitability, particularly in Manitoba. [00:10:00] Key Takeaways & Final Thoughts – Summarizing the pros and cons, plus actionable tips for investors. About Garret Wong Garret Wong is the founder of the My First Keys podcast, the Rent It Yourself Community and a seasoned property manager with nearly 30 years of experience. Originally a research scientist specializing in molecular biology, Garret transitioned into property investment, where he’s grown a personal portfolio of 43 buildings and 75 doors into a property management company that has managed over 1 billion dollars in assets with a 98.5% success rate in legal proceedings and a 98.6% rent collection ratio. Known for his practical approach and strategic insights, Garret has developed an extensive SOP library to manage everything from tenant selection to maintenance, helping landlords and property managers build a reliable, resilient system. Connect with Garret: My First Keys Personal Website Wong Capital Facebook LinkedIn Instagram Get Involved: Subscribe to My First Keys and follow us on social media for the latest updates. Contact: For feedback or questions, reach us at https://garretwong.com/contact/…

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Are Apartment Blocks Worth Investing In? 16:03

for 24 dager siden16:03

16:03

We love giving back! Check out our online Community HERE where you can learn how to purchase your first property, manage your existing property, or scale your portfolio! Podcast Episode Title: "Are Apartment Blocks Worth Investing In? " Summary: Is investing in apartment blocks really the ultimate real estate move, or could it turn into a costly mistake? We will break down the real advantages and risks of multifamily properties. You'll learn how apartment blocks have built massive wealth for investors—but also the hidden pitfalls that could sink your financial plans. Whether you're considering your first multifamily purchase or scaling up, this episode is a must listen! Timestamps: [00:00:00] Introduction: why apartment blocks are seen as the “holy grail” of real estate. [00:04:00] Advantages of Apartment Blocks – Economies of scale, increased cash flow, and risk mitigation through multiple units. [00:08:30] Disadvantages & Hidden Risks – High upfront costs, complex financing, rent control regulations, and concentrated risk factors. [00:10:00] Comparing Single Family vs. Multifamily Investing – Why many investors start with single-family homes and the learning curve involved in transitioning to multifamily. [00:14:00] Key Takeaways & Next Steps – The importance of understanding both the benefits and challenges of apartment investing, plus how to get started with the right strategy. About Garret Wong Garret Wong is the founder of the My First Keys podcast, the Rent It Yourself Community and a seasoned property manager with nearly 30 years of experience. Originally a research scientist specializing in molecular biology, Garret transitioned into property investment, where he’s grown a personal portfolio of 43 buildings and 75 doors into a property management company that has managed over 1 billion dollars in assets with a 98.5% success rate in legal proceedings and a 98.6% rent collection ratio. Known for his practical approach and strategic insights, Garret has developed an extensive SOP library to manage everything from tenant selection to maintenance, helping landlords and property managers build a reliable, resilient system. Connect with Garret: My First Keys Personal Website Wong Capital Facebook LinkedIn Instagram Get Involved: Subscribe to My First Keys and follow us on social media for the latest updates. Contact: For feedback or questions, reach us at https://garretwong.com/contact/…

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Short Term Rentals 11:46

for 4 weeks siden11:46

11:46

We love giving back! Check out our online Community HERE where you can learn how to purchase your first property, manage your existing property, or scale your portfolio! Podcast Episode Title: "Short Term Rentals" Summary: Short term rentals (STRs) are under attack in cities across North America. While they offer significant profit potential, they also come with regulatory challenges, rising costs, and neighborhood opposition. In today's episode we break down the latest trends, regulations, and risks associated with STRs, helping you determine if they’re still a smart investment. Timestamps: [00:00:00] Introduction: Overview of short-term rentals and why they’re facing increased scrutiny. [00:02:00] What Are Short-Term Rentals? – Defining STRs, their uses, and their role in the economy. [00:05:30] Challenges and Regulations – Discussion on city restrictions, including Toronto and Winnipeg’s policies. [00:7:00] Investment Risks – Hidden costs, unpredictable vacancies, and the impact of regulation changes. [00:9:00] Key Takeaways: The future of STRs, responsible investing, and alternatives to consider. About Garret Wong Garret Wong is the founder of the My First Keys podcast, the Rent It Yourself Community and a seasoned property manager with nearly 30 years of experience. Originally a research scientist specializing in molecular biology, Garret transitioned into property investment, where he’s grown a personal portfolio of 43 buildings and 75 doors into a property management company that has managed over 1 billion dollars in assets with a 98.5% success rate in legal proceedings and a 98.6% rent collection ratio. Known for his practical approach and strategic insights, Garret has developed an extensive SOP library to manage everything from tenant selection to maintenance, helping landlords and property managers build a reliable, resilient system. Connect with Garret: My First Keys Personal Website Wong Capital Facebook LinkedIn Instagram Get Involved: Subscribe to My First Keys and follow us on social media for the latest updates. Contact: For feedback or questions, reach us at https://garretwong.com/contact/…

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Commercial Real Estate and Rate Caps 17:04

for 5 weeks siden17:04

17:04

We love giving back! Check out our online Community HERE where you can learn how to purchase your first property, manage your existing property, or scale your portfolio! Podcast Episode Title: "Commercial Real Estate and Rate Caps" Summary: Are you just collecting rent, or are you truly building wealth? In this episode, we dive deep into commercial real estate, multifamily properties, and the power of cap rates. Learn how to balance cash flow with equity appreciation and why focusing solely on monthly income might be holding you back from financial success. Timestamps: [00:00:00] Introduction: Overview of cap rates, cash flow, and building wealth with multifamily real estate. [00:05:00] Cash Flow vs. True Profit: Breaking down the difference between monthly income and long-term equity growth. [00:08:30] Understanding Cap Rates: What cap rates are, how they work, and why they matter in commercial real estate. [00:11:00] Case Study: A Real Multifamily Investment: A real-world example of how strategic renovations and cap rates increase property value. [00:15:00] Key Takeaways: Why multifamily investing outperforms single-family rentals and how to build long-term wealth. About Garret Wong Garret Wong is the founder of the My First Keys podcast, the Rent It Yourself Community and a seasoned property manager with nearly 30 years of experience. Originally a research scientist specializing in molecular biology, Garret transitioned into property investment, where he’s grown a personal portfolio of 43 buildings and 75 doors into a property management company that has managed over 1 billion dollars in assets with a 98.5% success rate in legal proceedings and a 98.6% rent collection ratio. Known for his practical approach and strategic insights, Garret has developed an extensive SOP library to manage everything from tenant selection to maintenance, helping landlords and property managers build a reliable, resilient system. Connect with Garret: My First Keys Personal Website Wong Capital Facebook LinkedIn Instagram Get Involved: Subscribe to My First Keys and follow us on social media for the latest updates. Contact: For feedback or questions, reach us at https://garretwong.com/contact/…

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Mortgage Principle and Interest Explained 6:45

for 6 weeks siden6:45

6:45

We love giving back! Check out our online Community HERE where you can learn how to purchase your first property, manage your existing property, or scale your portfolio! Podcast Episode Title: " Mortgage Principle and Interest Explained" Summary: Your mortgage isn't just a bill—it’s one of the most powerful tools for building long-term wealth. In this episode, we break down how principal and interest work together, why conventional wisdom about mortgage payments might be costing you, and the strategic approach I use to optimize principal reduction while maintaining financial flexibility. Timestamps: [00:00:00] Introduction: Mortgage payments explained. [00:01:00]Mortgage Basics: How principal and interest payments are structured over time. [00:02:30] Why Bi-Weekly Payments May Not Be the Best Strategy: The impact on cash flow and flexibility. [00:03:30] Strategic Principal Reduction: Using lump sum payments and refinancing to maximize equity. [00:4:20] Key Takeaways: Summary of the most effective mortgage strategies. About Garret Wong Garret Wong is the founder of the My First Keys podcast, the Rent It Yourself Community and a seasoned property manager with nearly 30 years of experience. Originally a research scientist specializing in molecular biology, Garret transitioned into property investment, where he’s grown a personal portfolio of 43 buildings and 75 doors into a property management company that has managed over 1 billion dollars in assets with a 98.5% success rate in legal proceedings and a 98.6% rent collection ratio. Known for his practical approach and strategic insights, Garret has developed an extensive SOP library to manage everything from tenant selection to maintenance, helping landlords and property managers build a reliable, resilient system. Connect with Garret: My First Keys Personal Website Wong Capital Facebook LinkedIn Instagram Get Involved: Subscribe to My First Keys and follow us on social media for the latest updates. Contact: For feedback or questions, reach us at https://garretwong.com/contact/…

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Market Price vs Market Value 5:18

for 7 weeks siden5:18

5:18

We love giving back! Check out our online Community HERE where you can learn how to purchase your first property, manage your existing property, or scale your portfolio! Podcast Episode Title: "Market Price vs Market Value" Summary: Understanding the difference between market price and market value can mean the difference between a great deal and a costly mistake. In this episode, I break down these critical concepts, share a personal experience that nearly cost me thousands, and provide actionable insights to help you make smarter real estate decisions. Timestamps: [00:00:00] Introduction: Why understanding market price vs. market value is essential. [00:01:00] The Definitions: Market value vs. market price explained with real estate examples [00:02:30] Factors Affecting Market Value – How location, property condition, and market trends impact property valuation. [00:03:30] Factors Affecting Market Price – The role of emotions, bidding wars, and negotiation skills. [00:4:20] Key Takeaways – Summary of the biggest insights and how you can apply them to your next deal. About Garret Wong Garret Wong is the founder of the My First Keys podcast, the Rent It Yourself Community and a seasoned property manager with nearly 30 years of experience. Originally a research scientist specializing in molecular biology, Garret transitioned into property investment, where he’s grown a personal portfolio of 43 buildings and 75 doors into a property management company that has managed over 1 billion dollars in assets with a 98.5% success rate in legal proceedings and a 98.6% rent collection ratio. Known for his practical approach and strategic insights, Garret has developed an extensive SOP library to manage everything from tenant selection to maintenance, helping landlords and property managers build a reliable, resilient system. Connect with Garret: My First Keys Personal Website Wong Capital Facebook LinkedIn Instagram Get Involved: Subscribe to My First Keys and follow us on social media for the latest updates. Contact: For feedback or questions, reach us at https://garretwong.com/contact/…

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Cash Flow, Equity, and Appreciation | Mastering the Three Pillars of Real Estate 9:52

for 8 weeks siden9:52

9:52

We love giving back! Check out our online Community HERE where you can learn how to purchase your first property, manage your existing property, or scale your portfolio! Podcast Episode Title: "Cash Flow, Equity, and Appreciation | Mastering the Three Pillars of Real Estate" Summary: Lets dive back to basics and dive into the three foundational pillars of real estate wealth: cash flow, equity, and appreciation. Learn how these three elements work together to help you build long-term wealth and financial freedom. Whether you're just starting out or looking to refine your strategy, this episode has insights to level up your real estate investing game. Timestamps: [00:00:00] Introduction: Overview of the importance of cash flow, equity, and appreciation in real estate investing. [00:03:00] Cash Flow: What it is, how to calculate it, and why positive cash flow matters for monthly stability. [00:05:30] Equity: Understanding equity, how to build it through mortgage paydowns and renovations, and leveraging it for growth. [00:07:53] Appreciation: The multiplier effect of market value increases, factors that drive appreciation, and long-term wealth creation. [00:9:18] Key Takeaways: A recap of how combining cash flow, equity, and appreciation creates maximum wealth and actionable steps for new investors. About Garret Wong Garret Wong is the founder of the My First Keys podcast, the Rent It Yourself Community and a seasoned property manager with nearly 30 years of experience. Originally a research scientist specializing in molecular biology, Garret transitioned into property investment, where he’s grown a personal portfolio of 43 buildings and 75 doors into a property management company that has managed over 1 billion dollars in assets with a 98.5% success rate in legal proceedings and a 98.6% rent collection ratio. Known for his practical approach and strategic insights, Garret has developed an extensive SOP library to manage everything from tenant selection to maintenance, helping landlords and property managers build a reliable, resilient system. Connect with Garret: My First Keys Personal Website Wong Capital Facebook LinkedIn Instagram Get Involved: Subscribe to My First Keys and follow us on social media for the latest updates. Contact: For feedback or questions, reach us at https://garretwong.com/contact/…

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Why Invest in Rental Properties? 6:50

for 8 weeks siden6:50

6:50

We love giving back! Check out our online Community HERE where you can learn how to purchase your first property, manage your existing property, or scale your portfolio! Podcast Episode Title: "Why Invest in Rental Properties?" Summary: In this episode, we dive into the three foundational pillars of wealth building in real estate: cash flow, equity, and appreciation. Learn how these powerful tools work together to transform your financial future and discover actionable strategies to maximize each one. Whether you're a seasoned investor or just starting, this episode provides valuable insights to elevate your real estate game. Timestamps: [00:00:00] Introduction: Overview of the episode and its focus on cash flow, equity, and appreciation. [00:02:00]Building Wealth Foundations: Why understanding the synergy between cash flow, equity, and appreciation is key to financial success. [00:4:00] Cash Flow Basics: Defining cash flow, its formula, and how to optimize rental income while managing expenses effectively. [00:5:00] Equity Explained: The role of mortgage paydown, property improvements, and market appreciation in building equity. [00:6:00] Key Takeaways: Summarizing how mastering these pillars can set you on the path to real estate wealth. About Garret Wong Garret Wong is the founder of the My First Keys podcast, the Rent It Yourself Community and a seasoned property manager with nearly 30 years of experience. Originally a research scientist specializing in molecular biology, Garret transitioned into property investment, where he’s grown a personal portfolio of 43 buildings and 75 doors into a property management company that has managed over 1 billion dollars in assets with a 98.5% success rate in legal proceedings and a 98.6% rent collection ratio. Known for his practical approach and strategic insights, Garret has developed an extensive SOP library to manage everything from tenant selection to maintenance, helping landlords and property managers build a reliable, resilient system. Connect with Garret: My First Keys Personal Website Wong Capital Facebook LinkedIn Instagram Get Involved: Subscribe to My First Keys and follow us on social media for the latest updates. Contact: For feedback or questions, reach us at https://garretwong.com/contact/…

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Why We're Changing the Name to My First Keys 9:32

for 10 weeks siden9:32

9:32

We love giving back! Check out our online Community HERE where you can learn how to purchase your first property, manage your existing property, or scale your portfolio! Podcast Episode Title: "Why We're Changing the Name to My First Keys?" Summary: In this transformative episode, we unveil the reasons behind our podcast rebrand from Landlord Pal to My First Keys . Discover how this change aligns with our mission to empower real estate investors at every stage—from buying your first property to scaling a thriving portfolio. Tune in to learn about the fresh direction for our podcast and the exciting content you can expect moving forward. Timestamps: [00:00:00] Introduction: Why we're rebranding and what My First Keys represents. [00:03:00] The Catalyst for Change: Insights from networking with top investors and redefining the podcast's purpose. [00:5:30] My Personal Real Estate Journey: A heartfelt story of how real estate transformed my family's future. [00:7:45] What to Expect Going Forward: Breaking down the two-layered content approach for beginners and advanced investors. [00:8:30] Key Takeaways: A recap of the rebrands mission and an invitation to join our thriving community. About Garret Wong Garret Wong is the founder of the My First Keys podcast, the Rent It Yourself Community and a seasoned property manager with nearly 30 years of experience. Originally a research scientist specializing in molecular biology, Garret transitioned into property investment, where he’s grown a personal portfolio of 43 buildings and 75 doors into a property management company that has managed over 1 billion dollars in assets with a 98.5% success rate in legal proceedings and a 98.6% rent collection ratio. Known for his practical approach and strategic insights, Garret has developed an extensive SOP library to manage everything from tenant selection to maintenance, helping landlords and property managers build a reliable, resilient system. Connect with Garret: My First Keys Personal Website Wong Capital Facebook LinkedIn Instagram Get Involved: Subscribe to My First Keys and follow us on social media for the latest updates. Contact: For feedback or questions, reach us at https://garretwong.com/contact/…

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What are the Tax Implications of Being a Landlord? 15:27

for 11 weeks siden15:27

15:27

We love giving back! Check out our online Community HERE where you can learn how to purchase your first property, manage your existing property, or scale your portfolio! Podcast Episode Title: "What are the Tax Implications of Being a Landlord?" Summary: Taxes can be one of the most significant challenges for landlords, but understanding the rules can turn them into a tool for maximizing profits. In this episode, we delve into the essential tax implications of being a landlord, offering practical tips on record-keeping, deductions, and working with tax professionals. Tune in to gain clarity on staying compliant while saving money. Timestamps: [00:00:00] Introduction: Why understanding landlord tax implications is crucial. [00:05:00] Detailed Record-Keeping: Why keeping accurate and organized records is essential, from rental income to maintenance expenses. [00:10:30] Banking Best Practices: Tips for managing separate bank accounts for rental income and expenses to streamline tax filings. [00:12:45] Tax Deductions: Exploring common deductions like maintenance, property management fees, and mortgage interest. [00:16:00] Working with Professionals: How to collaborate effectively with tax professionals to ensure compliance and optimize your returns. About Garret Wong Garret Wong is the founder of the Landlord Pal podcast, the Rent It Yourself Community and a seasoned property manager with nearly 30 years of experience. Originally a research scientist specializing in molecular biology, Garret transitioned into property investment, where he’s grown a personal portfolio of 43 buildings and 75 doors into a property management company that has managed over 1 billion dollars in assets with a 98.5% success rate in legal proceedings and a 98.6% rent collection ratio. Known for his practical approach and strategic insights, Garret has developed an extensive SOP library to manage everything from tenant selection to maintenance, helping landlords and property managers build a reliable, resilient system. Connect with Garret: The Rent It Yourself Community Personal Website Wong Capital Facebook LinkedIn Instagram Get Involved: Subscribe to My First Keys and follow us on social media for the latest updates. Contact: For feedback or questions, reach us at https://garretwong.com/contact/…

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How to Determine the Perfect Rent Price for Your Rental Property 17:56

for 12 weeks siden17:56

17:56

We love giving back! Check out our online Community HERE where you can learn how to purchase your first property, manage your existing property, or scale your portfolio! Podcast Episode Title: " How to Determine the Perfect Rent Price for Your Rental Property" Summary: Setting the right rent price is a balancing act. Price it too low, and you lose money. Price it too high, and your property sits vacant. In this episode, we break down the strategies and calculations to help you strike the perfect balance, ensuring profitability and attracting quality tenants. Timestamps: [00:00:00] Introduction: Overview of the importance of determining the correct rent price. [00:05:00] Common Lease Violations: The risks of underpricing or overpricing and their financial implications. [00:10:30] Effective Communication: How to research comparable properties, assess vacancy rates, and adjust for amenities. [00:12:45] Legal and Escalation Steps: How the time of year impacts rental demand and pricing strategies. [00:16:00] Key Takeaways: Finding the perfect rent price ensures profitability, tenant satisfaction, and market competitiveness. About Garret Wong Garret Wong is the founder of the My First Keys podcast, the Rent It Yourself Community and a seasoned property manager with nearly 30 years of experience. Originally a research scientist specializing in molecular biology, Garret transitioned into property investment, where he’s grown a personal portfolio of 43 buildings and 75 doors into a property management company that has managed over 1 billion dollars in assets with a 98.5% success rate in legal proceedings and a 98.6% rent collection ratio. Known for his practical approach and strategic insights, Garret has developed an extensive SOP library to manage everything from tenant selection to maintenance, helping landlords and property managers build a reliable, resilient system. Connect with Garret: My First Keys Personal Website Wong Capital Facebook LinkedIn Instagram Get Involved: Subscribe to My First Keys and follow us on social media for the latest updates. Contact: For feedback or questions, reach us at https://garretwong.com/contact/…

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Building TRUST to Retain High Quality Tenants 8:48

for 13 weeks siden8:48

8:48

We love giving back! Check out our online Community HERE where you can learn how to purchase your first property, manage your existing property, or scale your portfolio! Podcast Episode Title: "Proven Strategies to Keep Great Tenants" Summary: We explore actionable strategies for retaining quality tenants, ensuring your rental property remains profitable and stress-free. From building strong relationships to responding swiftly to tenant concerns, you'll discover how to foster loyalty and long-term satisfaction in your tenants. Plus, learn why the smallest details can make the biggest impact! Timestamps: [00:00:00] Introduction: Overview of tenant retention strategies and their importance. [00:01:30] Deal Breakers: Examples of small issues that lead to big tenant dissatisfaction, including an anecdote about a missing cover plate. [003:30] Key Strategies: Building trust, offering lease renewal incentives, and maintaining a well-kept property. [00:5:45] Enhancing Relationships: Tips for personal touches like holiday greetings and maintaining professional boundaries. [00:7:00] Key Takeaways: Summary of effective practices for long-term tenant retention and an introduction to our Tenant Retention Strategy Guide. About Garret Wong Garret Wong is the founder of the My First Keys podcast, the Rent It Yourself Community and a seasoned property manager with nearly 30 years of experience. Originally a research scientist specializing in molecular biology, Garret transitioned into property investment, where he’s grown a personal portfolio of 43 buildings and 75 doors into a property management company that has managed over 1 billion dollars in assets with a 98.5% success rate in legal proceedings and a 98.6% rent collection ratio. Known for his practical approach and strategic insights, Garret has developed an extensive SOP library to manage everything from tenant selection to maintenance, helping landlords and property managers build a reliable, resilient system. Connect with Garret: My First Keys Personal Website Wong Capital Facebook LinkedIn Instagram Get Involved: Subscribe to My First Keys and follow us on social media for the latest updates. Contact: For feedback or questions, reach us at https://garretwong.com/contact/…

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What To Do When Tenants Violate a Lease 11:29

for 14 weeks siden11:29

11:29

We love giving back! Check out our online Community HERE where you can learn how to purchase your first property, manage your existing property, or scale your portfolio! Podcast Episode Title: "What to Do When Tenants Violate a Lease" Summary: Dive into a critical topic for landlords: how to handle lease violations effectively. From unauthorized pets to missed rent payments, we explore real-life examples, actionable strategies, and legal considerations to protect your property and enforce your lease terms. Timestamps: [00:00:00] Introduction: The importance of addressing lease violations promptly [00:03:00] Common Lease Violations: Examples including unauthorized pets, noise complaints, and property damage [00:15:30] Effective Communication: The importance of written warning letters and clear documentation [00:25:45] Legal and Escalation Steps: How to proceed with eviction or mediation when necessary [00:45:00] Key Takeaways: Summary of best practices for consistent lease enforcement. About Garret Wong Garret Wong is the founder of the My First Keys podcast, the Rent It Yourself Community and a seasoned property manager with nearly 30 years of experience. Originally a research scientist specializing in molecular biology, Garret transitioned into property investment, where he’s grown a personal portfolio of 43 buildings and 75 doors into a property management company that has managed over 1 billion dollars in assets with a 98.5% success rate in legal proceedings and a 98.6% rent collection ratio. Known for his practical approach and strategic insights, Garret has developed an extensive SOP library to manage everything from tenant selection to maintenance, helping landlords and property managers build a reliable, resilient system. Connect with Garret: My First Keys Personal Website Wong Capital Facebook LinkedIn Instagram Get Involved: Subscribe to My First Keys and follow us on social media for the latest updates. Contact: For feedback or questions, reach us at https://garretwong.com/contact/…

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