Landlording Lessons with Dillon Dalziel

Managing rental properties can be a rewarding venture, but it comes with its own unique challenges and responsibilities. How do you maximize your investment returns while fostering positive landlord-tenant relationships?

Dillon Dalziel began his journey in real estate at the young age of 15. By the time he was 19, he had already purchased his first property. Since then, he has made a significant impact in the real estate industry, particularly in the BRRRR space.

Join Dillon in this episode as we explore the intricacies of landlording, uncover practical tips, and delve into the ins and outs of this investment strategy.

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What you will learn from this episode for 21 minutes:

Find out the strongest advantage of having a suited property when it comes to generating income.
Discover an effective strategy for conducting thorough tenant screening to eliminate problematic occupants and avoid headaches.
Learn about one important lesson when it comes to being a newbie in real estate investing and in buying properties.

Resources:

Do you want to chat about the BRRRR strategy? Check this out: https://dillonandmarsha.com/

Topics Covered:

00:54 - What got him hooked into real estate at an early age

02:02 - How he financed the purchase of his first property

02:59 - What his real estate journey looked like after the first investment

03:58 - Focusing on in a BRRRR strategy and sharing a nightmare tenant story which is a great learning story

07:44 - With what he learned now what would he have done about the headache tenant

08:32 - Using apps and other resources to help with tenant screening

09:58 - Generating multiple income from this investment property

10:37 - The role each one plays in their real estate business

12:31 - Strategies to navigate market volatility

14:06 - Best ways to finding deals and lessons from buying properties all these years

16:40 - Plans in the nearest future with regards to real estate

18:40 - The main thing that separates them from the rest

Key Takeaways:

"[On well suited properties] you've got multiple revenue streams from one property instead of just one so if something does go wrong or somebody leaves a job, whenever they have to move out, then you still kind of cover your bases and you're just not taking such a hit." - Dillon Dalziel

"Now we do our checks and we've got a couple good apps and websites that we use to dig deeper into people. One of them actually gives us a report card on the tenant. At the end of it they have to type in a ton of information and if they don't want to do it, then we just say, you're not for us." - Dillon Dalziel

"We should have bought more when we were younger because every year you get that little bit of cash flow, you get that appreciation, you get that mortgage pay down, and then you can slow down as you get older." - Dillon Dalziel

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