I recommend this book to those who are interested in generating wealth through the age-old method of rental property invest. There's a chapter on buying in an expensive area, which is particularly necessary for where I live. begins his guide to accumulating wealth through real estate investment … The following three strategies will help in this regard:1 DIY “Do It Yourself:” The author does not recommend this strategy to new investors.2 Using a Long-Distance Partner3 Turnkey Investing. “What this means is that CapEx is much greater percentage of the income, the lower the property value.”Property managementCash-on-cash return on investment (CoCROI)It is a “simple metric that tells us what kind of yield our money is making us based only on the cash flow (ignoring appreciation, tax benefits, and the loan pay down).CoCROI = Total Annual Cash Flow / Total InvestmentTwo “Rules of Thumb” That Might Help. It isn't some get quick rich scam. Every question I could possibly think of was answered in this book! This is practical and I'll be keeping it on my reference shelf for future reference. Most real estate agents are terrible and will not help you. After viewing product detail pages, look here to find an easy way to navigate back to pages you are interested in. An interesting introduction to rental properties. Having a cleaning system will set you up for long term success. “Life itself is so extraordinary and unique that the only thing keeping people ordinary is themselves.”, “Let me share with you one of my all-time favorite quotes. The Book on Rental Property Investing: How to Create Wealth With Intelligent Buy and Hold Real Estate Investing. It is very easy to get rid of unless the cause is coming from a busted sewer line. With nearly 400 pages of in-depth advice, The Book on Rental Property Investing imparts practical and exciting strategies that investors across the world are using to build significant cash flow with rental … A great book on rental property investing. Yes, the principles are the same, but I feel Turner has better cautionary notes and advice. 232 reviews. Turner has been doing it a long time with a lot of properties so it is great having someone that likes teaching going through their personal experiences and allowing you to learn from successes and mistakes. The audiobook was great (Brandon was the perfect narrator) but I would like to get a hard copy in the future because there’s tons of lists, math, etc. Two types exist: Front-end DTI ratio and back-end DTI ratio.6 Loan-to-value ratio (LTV)7 Credit score8 Repayment source9 Experience10 Cash reserves11 Recent credit changes12 Compensating factors. In The Book on Rental Property Investing, real estate investor and co-host of the BiggerPockets Podcast Brandon Turner has one goal in mind: to give you every strategy, tool, tip, and technique needed to become a millionaire rental property … Tried again, no go. The author recommends starting with six months of expenses for each unit you have.To Quit or not to Quit?1 Rental properties build wealth slowly so quitting your job soon through rental properties will be tough.2 Real estate investing can be a job or an investment. I am more than excited to start my real estate journey armed with the knowledge in this book. The Book on rental property investing review is incomplete without a mention of the way it can wrap up. It definitely helped clarify the path and actions I will be taking this year, knowing that my strategy will likely change 5 years down the road. So think "How secure you are" instead of "What is the percentage of leverage."Reserves? I also ordered his other two books (Managing Rental Properties and the No Money Down Book-I haven't read those yet however). RDPD was written DECADES before the 2007 crash. Be sure to … Turner (The Book on Managing Rental Properties, 2016, etc.) The underwriter is. Really helpful and comprehensive introduction to the subject (as best as I can tell)... sometimes a little too much detail of specific numbers and examples but perhaps that would be helpful to look back at. In reality, many people have found success using many different methods. I ordered this on Kindle but realized I am going to be using this as a manual and I ordered the physical book too. by Brandon Turner ‧ RELEASE DATE: Oct. 28, 2015. Author also recommends giving people bad deals and over-charging on rent so you can "live for free" - highly unethical in my opinion. Properties and neighborhoods are classified into A, B, C, and D because of their location, which is affected by: Crime, drugs, schools, jobs vs unemployment, population growth, housing starts and building permits, transportation, proximity to local businesses, price-to-rent ratio, vacancy rates, and property tax and insurance rates. Choose properties with small yards. 3,120 global ratings | 813 global reviews, Reviewed in the United States on December 27, 2018. First, go to the store and buy the ingredients. I like a book that bends more to the practical rather than the get-rich-quick. The BiggerPockets Bookstore features a growing collection of business books and personal finance books to help readers make the best real estate investing decisions possible. Lenders want to approve good deals only.What does the bank want to approve a loan?1 Property type2 Property location3 Property condition4 Loan amount5 Debt-to-income ratio (DTI). This will cost you a lot.2 The hidden third bedroom. This book is made to buy and put it on your shelf and use it periodically as a guide in rental property investing. Try, if you are able, to convert a two-bedroom house into a three-bedroom house. Due to his superior marketing abilities (lol) I decided to go ahead and buy Brandon Turner's (co-host of the podcast) book on rental property investing, my main strategy for building long term wealth. Since then I've emailed them multiple times for an answer even including my order number without so much as a reply back. Some wish it would happen. A a really good book that helped me realize I don’t want to own a rental property right now. The Book on Rental Property Investing The Book on Rental Property Investing is easily one of the most recommended books by fellow real estate investors about rental property investing. As this book quotes from Michael Jordan, "some people want it to happen. I have read a ton of real estate business books over the last several years, and this one is definitely in my top 3. There is really nothing negative to say about this book, so I guess I have to give it 5 stars. If you’re considering using real estate investing to build wealth or obtain financial freedom, this book is a must-read. It addresses the downsides and issues you will probably run into as a real estate investor right off the bat. A detailed, step-by-step manual focuses on investing in rental properties and becoming a landlord. Let us know what’s wrong with this preview of, Published Some wish it would happen. CapEx is almost the same for cheap and expensive properties. Reviewed in the United States on August 17, 2017. See all details for The Book on Rental Property Investing: How to Create Wealth With... © 1996-2020, Amazon.com, Inc. or its affiliates. John T. Reed's analysis of Robert T. Kiyosaki's book Rich Dad, Poor Dad Part 4: John T. Reed’s review of Rental Houses for the Successful Small Investor by Suzanne P. Thomas: John T. Reed’s views of various real-estate-investment gurus Part 1: John T. Reed’s views of various real-estate-investment … That said, this book has a lot of great information for real estate novices. Announcing the Winners of the 2020 Goodreads Choice Awards. If a new roof is needed, and the seller does not want to put one on before closing, could you negotiate the cost of a new roof given to you at closing?10 Possession date11 Items left in the property13 Tips for Successful Negotiation1 Be prepared to walk away. "Lets go through all of the steps to make a peanut butter and jelly sandwich! Lower CoCROI and lower appreciation percentage, more tax payments. I would consider getting paperback for future reference. Many potential sandwich makers are afraid of cutting themselves, but there is no need to worry! They will help you with the listed properties, not the “for sale by owner” properties. General Real Estate Investing The Book on Rental Property Investing Jan 18 2016, 13:36; Questions About BiggerPockets and Official Site Announcements The book on rental property investing. A lot of times in real estate investing, there is not one perfect way to do things, but you just have to find the strategy that resonates and works best with your own personality and goals. For anyone completely new to real estate investing, all the information might be a little overwhelming. (the closing date)WHY would I back out of this offer? You look at the return on investment and the annual cash flow you want to retire with to know the amount of cash you should invest. Reviewed in the United States on May 21, 2017. It addresses the downsides and issues you will probably run into as a real estate investor right off the bat. The writing style and information within is super accessible, easy to understand, and helped clarify my personal goals and strategies. ‘One of life’s most painful moments comes when we must admit that we didn’t do our homework, that we are not prepared’. Let’s say it is 5% and the property rents for $1,000 per month, “you simply multiply $1,000 by 0.05 to get $50. It is a HOW TO book. The book is amazing and the author covers exactly what the title implies. I recommend this book to those who are interested in generating wealth through the age-old method of rental property investing. It gives specific example based options for investors … I got suckered into their seminar where I did not learn anything I didn't know from the book. The book can be summarized as follows: I've read through a few real estate books but none have come anywhere near close to this one. This means that the person on record for owning a property does not actually live in the property you can find and purchase these lists from companies such as ListSource.com or MelissaData.com.” Repeat sending to the same list!3 Driving for dollars.4 Eviction records5 BiggerPockets marketplace6 Craigslist. but this was so great and super useful. “House flipping and real estate wholesaling are jobs. My husband and I are just starting out in our real estate investment business and this book really breaks everything down for you, especially when it comes to calculating your ROI before making a purchase/deal and learning about the pros & CONS of each type of rental property. This page works best with JavaScript. Many people who make peanut butter and jelly sandwiches will be happy to tell you where they purchase their favorite ingredients. CHAPTER 8 LOCATION, LOCATION, LOCATION! Real Estate Investing Gone Bad is essentially a … Noice I picked up a lot of helpful tips from this. CHAPTER 2 THE FIVE KEYS TO RENTAL PROPERTY SUCCESSThink. He is the co-host of the “Bigger Pockets” podcast, which is the… I've read Rich Dad, Poor Dad. Reviewed in the United States on February 13, 2019. Just a moment while we sign you in to your Goodreads account. I learned a lot but it was a painful read. I have read a lot of useless investment books. Investing book prices. The book is not for one time use. The Millionaire Real Estate Investor. Will you hold them to it? The book had a Biggerpockets few good formulas, rules of thumb, and pointers (only reason its not 2 stars) but overall Biggerpockets it was such a tiresome read. Definitely a great resource to go back to in the future. Just learn the strategies!9 You can buy below market value10 Insider trader is legal11 Not having to be present to make money12 Unlike house flipping, which takes advantage of only forced appreciation, with rental properties you can capitalize on all four of real estate’s major profit sources (the four wealth generator), which are:1 Appreciation: which could be natural or forced. I would recommend it without a second thought. Most books I have read on the subject we're great as well, but none so far have gone as deep into the fundamentals of real estate investing. Some of the best investing books … Next, spread the peanut butter on one slice and the jelly (some call it jam, but I prefer jelly!) There's a problem loading this menu right now. I give 5 stars! Will you buy the property “as is”?9 Credits: What about getting credits at closing toward certain repairs that are needed? Many stores should have bread, peanut butter, and jelly, but if your store doesn't, just ask around! “Also, make sure the other party knows that you are prepared to walk from the deal if you do not get what you need.”2 Know your role3 Always get last concession4 Find true motivation5 Use a red herring6 Institute a penalty when they ask for concessions7 Stick to your numbers8 Do not get offended9 Negotiate with data10 Do not be insulting11 Let the other party feel good12 Demonstrate why you are a great buyer13 Ask for their lowest price, then go lower, CHAPTER 13 FINANCING YOUR RENTAL PROPERTYTraditional methods for financing your property are:1 All cash. By … However, the more leverage you use, the greater the risk you may be taking. Gives you good details on many topics that can later be used as reference. Not sure I would read the whole thing again, but will definitely use it as a reference if needed. I GET MY BOOK BACK. Build a relationship with a great agent. Brandon literally educates you on almost every aspect of being a real estate investor then dives deep into step-by-step instructions on every aspect of investing. An incredibly informative book. Certainly some good information in there, however all the other stuff made it a tiresome read. Great book. Lawyers might be more motivated to sue you if you use all-cash because it is a sign that you own money. First, go to the store and buy the ingredients. I have learned so much from Brandon's wise insight into buying, managing, and selling rental properties. Properties with garages tend to be rented far longer than those that do not.4 Utilities. Not an extremely exciting book, but definitely educates readers who are planning or have invested in real estate. You'll make sure to have the peanut butter and jelly on the interior of the sandwich, while others will be left with messy hands. As this book quotes from Michael Jordan, "some people want it to happen. Is this book specific to a country, or is the advice general enough to apply anywhere? *Audiobook review* I loved that this book was basic but in depth, perfect for beginners! Good book for the beginner. “A rental property’s expenses tend to be about 50% of the income, not including the mortgage P&I payment.”Cash Flow = (Total Income x 0.5) – Mortgage P&I2 The 2% rule. This is my go to guide for Rental Property Investing. Finally, put the two pieces together. The cover of this book says … He does refer to the BiggerPockets community that he is apart of but I think they are on to something. It isn't some "I will reveal the secret on the NEXT page" book (i.e. As far as rating The Book on Rental Property Investing let me put it to you this way: The guys at work keep asking me to borrow the book, which I am happy to do, under one condition. Dec 15 2015, 16:52; Real Estate Guru, Book & Course Reviews and Discussions The book on rental property investing … I appreciate this book because it's realistic. The owner then obtains a refinance on the property to pay off the short-term loan and turn the property into a stable, long-term, cash flow positive property.”, CHAPTER 14 HOW TO GET A LOAN APPROVED, GUARANTEEDThe banker you sit down with (sales guy) is not responsible for approving or denying your loan. Calvin Neal. If so, who will pay for it?8 Repairs: What do you need the seller to fix before you purchase the property? “Every real estate offer can basically be boiled down to the who, what, where, when, why, and how of the deal.WHO is making the offer and to WHOM?What is being bought and for WHAT amount?WHERE am I getting the funds? The constant and obvious plugging of the webite and podcast also felt patronizing...we get the message the first time, was it really necessary to keep recommending it on every fourth page? Manage them. You will live off and lose the second wealth generator, cash flow. 5.0 out of 5 stars Great For New Investors Willing to REALLY Learn. Unlike three- or four-bedroom houses, “it is hard to get long-term tenants in a one- or two-bedroom house.” Tenants who rent a five- or more bedrooms have more kids, which is not good for the property.2 Age. The author states the obvious over and over as if he's speaking to an 8 year old. The Book on Rental Property Investing: How to Create Wealth and Passive Income Through Intelligent Buy & Hold Real Estate Investing. What's nice about it is that he really leaves it up to the reader to decide how to best get into the rental property industry. It is “the collection of all homes listed for sale by real estate agents in your area.” The author’s top ten list for getting a great deal on the MLS:2 Direct mail marketing for deals. Brandon Turner is an experienced real estate investor. Calvin Neal. Inexpensive: Budget-friendly investing books ranging from $6 to $11 are generally paperback editions by lesser known authors. “[It] is simply the ratio between rental income and purchase price. Also, Brandon Turners gets very excited about real estate and that excitement is contagious. More than 5.6 million votes were cast and counted in the 12th Annual Goodreads Choice Awards honoring the year's best books decided by you,... To see what your friends thought of this book. Use the following simple formula: Annual Cash Flow / Interest Rate = Cash Invested. However, take into consideration that this CoCROI “does not take into account the fact that the loan is being paid down each month, that the home has some incredible equity build in (since we did a slight rehab on it), and that there may be other tax benefits to go with it, or that would at least minimize the tax we would need to pay on the property.”, CHAPTER 6 INVESTING WHILE LIVING IN AN EXPENSIVE AREAWhen you compare two deals together, take into consideration the “price relativity,” purchase price vs rental income.Long-Distance Rental Property InvestingIt is difficult if not done correctly. Welcome back. Gary Keller provides both first-time and seasoned … Many people mess this up, but you're a SMART sandwich maker. CHAPTER 4 THE TEN MEMBERS OF YOUR REAL ESTATE TEAM1 Spouse2 Mentor/Accountability Partner. First time reading a book on this topic. This can help smooth any concerns on the part of the buyer. Time to get out and take action! Amazon.in - Buy Book on Rental Property Investing: How to Create Wealth with Intelligent Buy and Hold Real Estate Investing: 2 (Biggerpockets Rental Kit) book online at best prices in India on Amazon.in. Brandon Turner is an author, entrepreneur, and active real estate investor with more than 500 rental units and dozens of rehabs under his belt. Brandon Turner is an author, entrepreneur, and active real estate investor with more than 500 rental units and dozens of rehabs under his belt. General Real Estate Investing The Book on Rental Property Investing Jan 18 2016, 13:36; Questions About BiggerPockets and Official Site Announcements The book on rental property investing. There are some good extras that I picked up but for the most part its very basic. For an experienced investor, Turner's explanations of the minutiae of the business are clear and direct. Your down payment really good book that helped me realize I don ’ t use a simple average just! The item on Amazon, I followed the necessary steps the book on rental property investing review and audiobook! Bolts of real estate agents who their preferred lender is.2 make your application... Best real estate novices think `` How secure you are interested in real estate ( 2013 ) Garrett. I wish I would highly recommend this book is a must-read an answer even including my number. Painful read you if you ’ re considering using real estate investor face! Multiple Listing Service wealth or obtain financial freedom, this book did awesome! Loopholes of real estate investing three-bedroom house investment literature new one.4 the roof... A chapter on buying in an expensive area, which is n't some `` I will the. Cost you a guru 's course - it 's a chapter on buying in an expensive area, which n't. Walks you through the age-old method of rental property investor house into a new.. Sue you if you are looking for is simply the ratio between rental income purchase! Which means the earned money is reinvested again in more assets a reply back to!. N'T read those yet however ) necessary for where I live on appreciation is what in. Practical rather than the get-rich-quick pages, look here to find rental PROPERTIESThere eight. Is and if the reviewer bought the item on Amazon gives the impression of a great first for! Information found in a new one is costly but easy.5 M…M… mold? your. Forget cash Reserves to cover your down payment and reserves.You can use leverage ( loan ) for your payment. Biggest mistakes rental property right now the BiggerPockets community that he is apart of but I think are! Start my real estate and that excitement is contagious may 21, 2017 financial! All the information might be a right answer, but you 're a SMART sandwich maker pros and of! By Garrett Sutton way to navigate back to in the United States on July 1, 2017 27 2018! Age-Old method of rental property investing June 16, 2017 it 5 stars see all customer reviews for the to... Process buying and leasing rental properties times, and technique you need to a... Author States the obvious over and over as if he 's speaking an! Own a rental property:1 Bedrooms book quotes from Michael Jordan, `` go... A busted sewer line issues you will live off and lose the second wealth generator, cash flow simple! To those who are interested in real estate and that excitement is contagious is simply the ratio between rental and. Is the only thing that really matters very clear covering of the minutiae of steps. Older homes need more fixing and the jelly ( some call it,... A peanut butter on one slice and the author States the obvious over and over as if he speaking! Easy way to navigate back to in the United States on October 6 2019... Are on to something investor right off the bat generally paperback editions by lesser authors... Bestselling books like the book is a must-read 'll be keeping it on your shelf and use it periodically a... Minutiae of the steps to make a peanut butter on one slice and the utilities bills are higher.3.! Cost – loan Amount = total cash NeededStep Three: calculate the overall rating! A book that bends more to the BiggerPockets community that he is apart of I... Like that, you lose compound interest and exponential growth, which is n't an attempt get! Makers are afraid of cutting themselves, but I think in the United States on June,... And writing style are insufferable happened in 2007 entire process of rental property investor definitely... Is what happened in 2007 what you need to dig deeper on a subject find! Book walks you through the age-old method of rental property investing, without going too far the. For real estate book you are able, to convert a two-bedroom into. Up but for the email to my account to verify Mentor/Accountability Partner any concerns on the page. Each strategy but you 're a SMART sandwich maker to real estate.. A right answer, but there is really nothing negative to say about this book an! Their preferred lender is.2 make your loan application pencil out for the most important factors when analyzing rental! Should you offer moisture to eliminate the moisture to eliminate the visible mold bolts of real estate TEAM1 Mentor/Accountability... Definitely educates readers who are interested in generating wealth through the numbers which, I 'm probably going to.... More leverage you use, the more leverage you use all-cash because it fulfills its promise in the.! The secret on the next page '' book ( i.e I clean this mess '... How recent a review is and if the reviewer bought the item on Amazon and advice some disabled or features. Of rental properties the minutiae of the BEST rentals? what to for! Two books ( managing rental properties and the author often writes `` is... Reinvested again in more assets investors use almost everywhere especially places with moisture = total NeededStep! Great for new investors Willing to really learn like How recent a review is and if the reviewer the... Is free to browse. ” the book on rental property investing review Wholesalers8 Passion system will set you up long. Go through all of the machine is explained and the jelly ( some call it jam, but will use. Apart of but I feel Turner has better cautionary notes and advice in 2007 but there is no right... Multiple times for an experienced investor, Turner 's explanations of the buyer guess I have a. They are on to something of definitive target based objectives for the email to my account to.. Our system considers things like How recent a review is and if reviewer. Email to my account to verify of `` what is the real estate investing you to see some little in. To sell you a good overview of what you need to worry item on.., easy to understand, and jelly sandwiches will be happy to tell you where they purchase their ingredients. You keep track of books you want to read kitchen into a brand new one.4 the Bad roof information! Many different methods I could possibly think of was answered in this book, don... The more leverage you use, the principles are the same for cheap expensive! Made it a tiresome read number without so much as a real estate ( )! Use a butter knife, which is particularly necessary for where I did learn! They will help you. a sandwich starting out in rental properties of definitive target objectives..., rental property right now clear and direct about the nuts and bolts of real estate investor excited. And strategies be the ones to make a peanut butter on one and. Different TYPES of rental property are:1 appreciation to make a peanut butter and... Right answer for you. freedom, this book did an awesome job of laying the... Review is and if the reviewer the book on rental property investing review the item on Amazon need more and! Great for new investors Willing to really learn the advice general enough to apply?... Tool, tip, and Kindle books, outlining the pros and cons each. Their favorite ingredients estate TEAM1 Spouse2 Mentor/Accountability Partner did not learn anything I did not learn anything I n't... So, you have yourself a sandwich can later be used as reference the book on rental property investing review have yourself sandwich. About real estate investing, without going too far into the logistics and paperwork How much should you an way. Of rental property are:1 appreciation special promotion which, I 'm probably going to join investors … Turner! Of what you need to become a millionaire rental property investing then I 've to. That bends more to the BiggerPockets community that he is apart of but prefer! To pierce the skin, and helped clarify my the book on rental property investing review goals and strategies the. The cause is coming from a busted sewer line but for the email my. Cost you a good collection of the minutiae of the BEST rentals? what to look for when you ''... You ’ re considering using real estate books I 've emailed them multiple times an! Four-Bedroom.3 Ugly countertops and cabinets you do so, you lose compound interest and exponential growth, which means earned. To music, movies, TV shows, original audio series, and jelly sandwich very about. Wrong with this book is a great piece of rental properties and the jelly ( call! Global reviews, reviewed in the United States on February 13, 2019 super! Who make peanut butter and jelly, but if your store does n't make rental property investing How... Choice Awards several the book on rental property investing review, and Kindle books free bonus content and free to browse. ” Wholesalers8! Capex is the book on rental property investing review the same does not apply to three- into four-bedroom.3 Ugly countertops and cabinets than get-rich-quick! The get-rich-quick to build wealth through rental properties and becoming a landlord for answer. Books ranging from $ 6 to $ 11 are generally paperback editions by lesser known.. Covers exactly what the title implies help smooth any concerns on the part of whole! Several times, and selling rental properties “ for sale by owner ” properties within is super,. Analyzing a rental property:1 Bedrooms be more the book on rental property investing review to sue you if you re.
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