Your First Rental Property: Build Passive Income Without Becoming a Landlord

Lane Kawaoka
  • 5.0 (3)
  • Investing
  • Updated Biweekly

Welcome to Your First Rental—the podcast for high-earning professionals and business owners who want to build passive income without dealing with tenants, toilets, or quitting their day job. 🎁 Start your journey with Lane’s free Remote Rental eCourse at theWealthElevator.com/firstdeal Host Lane Kawaoka bought his first rental in 2009 while still working as an engineer. By 2015, he owned 11 rentals and has since participated in over $2.1 billion in real estate acquisitions. This podcast is where Lane gives back, breaking down real estate investing into simple, actionable steps so you can buy cash-flowing properties remotely, avoid newbie mistakes, and finally stop trading time for money. Hosted on Acast. See acast.com/privacy for more information.

  1. Jun 18

    Primary vs. Secondary vs. Tertiary Markets (and A–D Rental Classes) | Real Estate Investing Fundamentals

    📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/firstdeal 🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/club In this foundations episode on real estate investing, the speaker explains primary, secondary, and tertiary markets and how they relate to finding rental properties, giving examples such as Dallas, Seattle, Los Angeles, and New York as primary markets; Memphis, Birmingham, Kansas City, and Indianapolis as secondary; and Waco and Yakima as tertiary, with even smaller towns below that. They prefer secondary markets because primary markets attract heavy competition and many unsophisticated investors who buy for appreciation rather than cash flow, which the speaker views as essential. They stress choosing secondary markets with robust economies (Kansas City as a good example, Detroit as a bad one) and caution that late-cycle conditions in 2016 make tertiary markets riskier in a correction. The episode also breaks down A, B, C, and D/F property and neighborhood classes, cash flow trade-offs, and the importance of discounting broker opinions. 00:00 Real Estate Foundations Intro 00:14 Primary Secondary Tertiary Markets 01:24 Why Secondary Markets Win 03:20 Market Cycle And Tertiary Risk 03:59 Property And Neighborhood Classes 04:25 A Through F Class Breakdown 05:38 Matching Property To Neighborhood 06:18 Broker Hype And Wrap Up Connect with me: LinkedIn: https://www.linkedin.com/in/lanekawaoka/ Facebook: https://www.facebook.com/TheWealthElevator Instagram: https://www.instagram.com/TheWealthElevator Lane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016. Check out our Top-50 Investing Podcast, The Wealth Elevator. To help you get started grab our remote rental ecourse at theWealthElevator.com/firstdeal. The preceding is not tax, legal, or investment advice, nor an offer to sell securities or investment products. Always make informed decisions with professional guidance. Hosted on Acast. See acast.com/privacy for more information.

    7 min

  2. May 15

    Turnkey Rental Cons: Why Single-Family Cash Flow Hits a Ceiling (with Alex Franks)

    📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/firstdeal 🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/club Host Lane interviews real estate investor Alex Franks about the limitations of turnkey single-family rentals and why many investors stall after building a small portfolio. Franks shares his 17-year path from wholesaling to rehabs, turnkey, new construction, and a current focus on 10–50 unit multifamily, arguing that $200–$300 monthly cash flow per house won’t reach higher income goals without scale. He prefers higher-quality A/B properties, often financed with 20% down Fannie Mae loans, and discusses building new construction rentals due to strong demand and limited supply. They compare strategies on leverage versus accelerating debt payoff, note the 10-loan cap per person, emphasize goal-setting, diversification, and careful market/team selection, and stress networking and investor education. 00:00 Turnkey Rental Downsides 00:13 Alex Franks Background 01:10 Why Single Family Caps Growth 02:00 Picking Better Turnkeys 03:03 New Construction Turnkey Model 03:34 Maxing Out Loans Then What 03:53 Diversify Into Multifamily 04:33 Goals And Pathway Planning 06:41 Leverage Versus Paydown Debate 10:40 Late Cycle Market Reality 13:35 Returns Greed And Education 15:27 Stock Drops Private Capital 16:49 Due Diligence For Out Of State 18:10 Networking And Market Selection 19:16 Wrap Up And Thanks Connect with me: LinkedIn: https://www.linkedin.com/in/lanekawaoka/ Facebook: https://www.facebook.com/TheWealthElevator Instagram: https://www.instagram.com/TheWealthElevator Lane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016. Check out our Top-50 Investing Podcast, The Wealth Elevator. To help you get started grab our remote rental ecourse at theWealthElevator.com/firstdeal. The preceding is not tax, legal, or investment advice, nor an offer to sell securities or investment products. Always make informed decisions with professional guidance. Hosted on Acast. See acast.com/privacy for more information.

    19 min

  3. Apr 15

    Lane Kawaoka on Scaling Out-of-State Rentals: 1% Rule, Turnkey vs Agents, Cashflow-First Investing

    📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/firstdeal 🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/club On the Best Real Estate Investing Advice Ever Show with Joe Fairless, engineer and podcaster Lane Kawaoka shares how he built a portfolio of 11 out-of-state single-family rentals in markets like Birmingham, Atlanta, Indianapolis, and Pennsylvania after getting priced out of Seattle. He explains his shift from turnkey providers to working with agents for third-party street and rent-roll validation, plus his fast screening method using a 1% rent-to-value ratio and a quick cashflow estimate (about 70% of rent collected after expenses, targeting roughly $200/month after a typical $500 mortgage). Lane discusses financing with conventional Fannie Mae loans up to 10 properties and using a portfolio loan for the 11th, why he took a pay cut to reclaim time, maintenance realities across 10+ homes, and his plan to scale via apartments and syndication. His key advice is to match strategy to your time, money, and knowledge. 00:00 Podcast Intro 00:48 Lane Origin Story 01:58 Time Over Salary 02:17 Finding Out Of State Deals 03:34 Turnkey Versus Agents 05:14 Quick Deal Analysis 07:35 Financing And Loan Limits 08:21 Scaling Beyond Single Family 09:44 Best Advice Skills Triangle 11:15 Lightning Round Lessons 13:51 Mistakes And Cashflow Buffer 14:48 Wrap Up And Where To Find Connect with me: LinkedIn: https://www.linkedin.com/in/lanekawaoka/ Facebook: https://www.facebook.com/TheWealthElevator Instagram: https://www.instagram.com/TheWealthElevator Lane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016. Check out our Top-50 Investing Podcast, The Wealth Elevator. To help you get started grab our remote rental ecourse at theWealthElevator.com/firstdeal. The preceding is not tax, legal, or investment advice, nor an offer to sell securities or investment products. Always make informed decisions with professional guidance. Hosted on Acast. See acast.com/privacy for more information.

    16 min

  4. Mar 6

    Expert Real Estate Investment Tips: Q&A with Lane

    📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/firstdeal 🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/club In this episode, Lane discusses a recent interaction with an HGTV casting director, his experiences with buying out-of-state rental properties, and answers a series of listener questions. Topics include the necessity of visiting property locations, recommendations for turnkey providers, selecting tenant-grade materials, market analysis for various cities, and managing out-of-state properties. Lane provides insights on investing in newer vs. older homes, handling non-responsive turnkey companies, and the financial viability of investments in different markets. He emphasizes the importance of building trust with local teams and being patient in a competitive seller's market. 00:00 Introduction and Casting Call Story 00:24 Listener Questions: Visiting Locations 01:56 Turnkey Recommendations and Market Analysis 05:19 Tenant Grade Materials and Upgrades 10:13 Managing Out-of-State Properties 11:02 Final Thoughts and Advice Connect with me: LinkedIn: https://www.linkedin.com/in/lanekawaoka/ Facebook: https://www.facebook.com/TheWealthElevator Instagram: https://www.instagram.com/TheWealthElevator Lane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016. Check out our Top-50 Investing Podcast, The Wealth Elevator. To help you get started grab our remote rental ecourse at theWealthElevator.com/firstdeal. The preceding is not tax, legal, or investment advice, nor an offer to sell securities or investment products. Always make informed decisions with professional guidance. Hosted on Acast. See acast.com/privacy for more information.

    8 min

  5. Feb 6

    The Hidden Costs of HVAC Repairs and the Realities of Stock Trading

    📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/firstdeal 🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/club In this episode, Lane shares his recent experiences with HVAC repairs, explaining the costs and logistics involved. He then transitions into a critical discussion about the stock market, highlighting the downsides of individual stock trading and questioning the long-term reliability of market returns. Lane contrasts the work of engineers who create tangible products with financial traders, and expresses concerns about the influence of large corporations on government policies. The episode concludes with a call for awareness and a teaser for upcoming real estate-focused content. 00:00 Introduction and HVAC Troubles 01:46 The Problem with the Stock Market 03:03 Technical Analysis and Trading Strategies 04:27 The Pitfalls of Stock Trading 06:42 Corporate Influence and Economic Realities 07:37 Conclusion and Future Content Connect with me: LinkedIn: https://www.linkedin.com/in/lanekawaoka/ Facebook: https://www.facebook.com/TheWealthElevator Instagram: https://www.instagram.com/TheWealthElevator Lane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016. Check out our Top-50 Investing Podcast, The Wealth Elevator. To help you get started grab our remote rental ecourse at theWealthElevator.com/firstdeal. The preceding is not tax, legal, or investment advice, nor an offer to sell securities or investment products. Always make informed decisions with professional guidance. Hosted on Acast. See acast.com/privacy for more information.

    13 min

  6. Jan 2

    Top Questions to Ask Your Turnkey Real Estate Provider

    📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/firstdeal 🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/club In this episode, the host addresses a series of 22 critical questions to ask turnkey real estate providers to ensure successful property investment. Topics include understanding the structure of the provider's company, their processes, financing options, property inspections, and the importance of due diligence. The video emphasizes the necessity of interviewing providers, learning through conversation, and fine-tuning one's BS detector to avoid pitfalls. Viewers will learn how to approach turnkey real estate investments critically and strategically to mitigate risks and make informed decisions. 00:00 Introduction and Purpose of the Video 00:16 Importance of Interviewing Turnkey Providers 00:59 Detailed Breakdown of Key Questions 02:35 Financing and Inspection Considerations 04:22 Understanding the Turnkey Process 06:36 Evaluating Turnkey Providers 09:56 Final Thoughts and Action Plan Connect with me: LinkedIn: https://www.linkedin.com/in/lanekawaoka/ Facebook: https://www.facebook.com/TheWealthElevator Instagram: https://www.instagram.com/TheWealthElevator Lane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016. Check out our Top-50 Investing Podcast, The Wealth Elevator. To help you get started grab our remote rental ecourse at theWealthElevator.com/firstdeal. The preceding is not tax, legal, or investment advice, nor an offer to sell securities or investment products. Always make informed decisions with professional guidance. Hosted on Acast. See acast.com/privacy for more information.

    11 min

  7. 12/05/2025

    10 31 Exchange: Repositioning Real Estate Investments for Better Cash Flow

    📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/firstdeal 🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/club In today's episode, the focus is on a real estate investor's personal portfolio and the strategic decisions made to enhance cash flow. The host shares details of a significant transition involving a series of property sales and purchases spanning from October 2015. Dubbed the '10 31 Orama,' this phase aimed at increasing monthly cash flow from $1,000 to over $3,000 by trading less profitable properties for better ones. Key topics include the importance of Return on Deployable Equity (ROE), strategies to maintain financial buffers in rental investments, and the challenges and lessons learned in navigating Fannie Mae loan processes. The discussion also touches on pitfalls in the due-diligence process and best practices for managing 10 31 exchanges. The episode culminates with the host's current focus on writing a book to guide new investors in their first rental property purchase and an invitation for interested individuals to get involved. 00:00 Introduction to My Personal Portfolio 00:12 The 10 31 Orama Explained 00:36 Seattle Real Estate Market Insights 01:04 Repositioning Investments for Better Returns 02:10 Challenges and Strategies in Real Estate Investing 04:00 Navigating the 10 31 Exchange Process 05:00 Conclusion and Future Plans Connect with me: LinkedIn: https://www.linkedin.com/in/lanekawaoka/ Facebook: https://www.facebook.com/TheWealthElevator Instagram: https://www.instagram.com/TheWealthElevator Lane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016. Check out our Top-50 Investing Podcast, The Wealth Elevator. To help you get started grab our remote rental ecourse at theWealthElevator.com/firstdeal. The preceding is not tax, legal, or investment advice, nor an offer to sell securities or investment products. Always make informed decisions with professional guidance. Hosted on Acast. See acast.com/privacy for more information.

    5 min

  8. 11/19/2025

    Navigating BiggerPockets: Tips for Passive Real Estate Investors

    📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/firstdeal 🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/club In this video, I discuss how to effectively use BiggerPockets as a passive real estate investor. I'll share insights on why it's important to take advice from the forums with a grain of salt and highlight the difference between active and passive investors. While BiggerPockets is a fantastic resource, it's essential to recognize that many vocal users are seasoned pros in real estate. Despite this, I'll explain why real estate remains the best investment vehicle and how even lukewarm deals can outperform the stock market. Join me as I share personal experiences and valuable tips for navigating the world of real estate investment as a passive investor. 00:00 Introduction to Using BiggerPockets Wisely 00:15 Evaluating Personal Investment Strategy 00:35 Understanding BiggerPockets Community Dynamics 00:57 The Reality of Passive Investing 01:26 Conclusion and Key Takeaways Connect with me: LinkedIn: https://www.linkedin.com/in/lanekawaoka/ Facebook: https://www.facebook.com/TheWealthElevator Instagram: https://www.instagram.com/TheWealthElevator Lane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016. Check out our Top-50 Investing Podcast, The Wealth Elevator. To help you get started grab our remote rental ecourse at theWealthElevator.com/firstdeal. The preceding is not tax, legal, or investment advice, nor an offer to sell securities or investment products. Always make informed decisions with professional guidance. Hosted on Acast. See acast.com/privacy for more information.

    2 min
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Ratings & Reviews

5
out of 5
3 Ratings

About

Welcome to Your First Rental—the podcast for high-earning professionals and business owners who want to build passive income without dealing with tenants, toilets, or quitting their day job. 🎁 Start your journey with Lane’s free Remote Rental eCourse at theWealthElevator.com/firstdeal Host Lane Kawaoka bought his first rental in 2009 while still working as an engineer. By 2015, he owned 11 rentals and has since participated in over $2.1 billion in real estate acquisitions. This podcast is where Lane gives back, breaking down real estate investing into simple, actionable steps so you can buy cash-flowing properties remotely, avoid newbie mistakes, and finally stop trading time for money. Hosted on Acast. See acast.com/privacy for more information.

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