Welcome back. He is the Vice President of BiggerPockets, co-host of The BiggerPockets Podcast, and author of four books, including The Book on Rental Property Investing and How to Invest … A detailed, step-by-step manual focuses on investing in rental properties and becoming a landlord. 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. The author's tone and writing style are insufferable. Lawyers might be more motivated to sue you if you use all-cash because it is a sign that you own money. Instead he lays out the different options plain and simple and encourages you to do the work to decide what’s best for your lifestyle and skills. Brandon overviews the entire process of buying and managing rental properties. If you’re considering using real estate investing to build wealth or obtain financial freedom, this book is a must-read. It also outlines the biggest mistakes rental property investors … 3,120 global ratings | 813 global reviews, Reviewed in the United States on December 27, 2018. Do NOT forget cash reserves to cover any problems you might face. Start by marking “The Book on Rental Property Investing: How to Create Wealth With Intelligent Buy and Hold Real Estate Investing” as Want to Read: Error rating book. 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. He wrote "The Book on Rental Property Investing," and this handy guide explains everything you need to know about succeeding with rental investments as a means of generating cash flow. 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. 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. This is the amount you will want to include for your vacancy expense each month.”Repairs: The author assumes repairs to cost around 5% to 15% yearly.CapEx: Estimate how many years the expensive “big ticket” items will last and how much they will cost and then divide these out by the number of years. Gary Keller provides both first-time and seasoned … It also gives a good overview of the different strategies different investors use. I am more than excited to start my real estate journey armed with the knowledge in this book. 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. *Audiobook review* I loved that this book was basic but in depth, perfect for beginners! If so, who will pay for it?8 Repairs: What do you need the seller to fix before you purchase the property? I would highly recommend this and other books published by BiggerPockets.com for anyone interested in learning about investing in real estate. So eliminate the moisture to eliminate the visible mold. There are some good extras that I picked up but for the most part its very basic. Real Estate Investing Gone Bad is essentially a … Let us know what’s wrong with this preview of, Published 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. Older homes need more fixing and the utilities bills are higher.3 Garage. Many potential sandwich m, "Lets go through all of the steps to make a peanut butter and jelly sandwich! The following rules are not strictly accurate.1 The 50% rule. This book is made to buy and put it on your shelf and use it periodically as a guide in rental property investing. 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. “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. That being said I like Brandon Turner and enjoy his style of writing and talking. In simple words, “after all the bills are paid each month, how much money is left over per unit?” And how many units you need to survive.2 The “return on investment” method. It doesn't make rental property investing seem easy or a "get-rich quick" scheme. CHAPTER 3 FOUR SAMPLE PLANSThe author discussed four strategies to build wealth through rental properties. A great book to familiarize yourself with real estate investing concepts and strategies! With nearly 400 pages of in-depth advice, The Book on Rental Property Investing imparts practical and exciting strategies that investors … Real Estate Investing: The Ultimate Guide to Building a Rental Property Empire for Beginners (2 Books in One) Real Estate Wholesaling, Property Management, Investment Guide, Financial Freedom. ', think 'How can I clean this mess?'). The writing style and information within is super accessible, easy to understand, and helped clarify my personal goals and strategies. 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? Get hundred collections of book link todownload and get always updated book every day. Pretty neat huh?". I'm now hooked on listening to their Podcast too. Tried again, no go. Many potential sandwich makers are afraid of cutting themselves, but there is no need to worry! Here are 15 of the best real estate investing books, based on Amazon ranking and customer reviews. For an experienced investor, Turner's explanations of the minutiae of the business are clear and direct. Top subscription boxes – right to your door. 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. Brandon Turner is an author, entrepreneur, and active real estate investor with more than 500 rental units and dozens of rehabs under his belt. I wish I would have started with this book, it answered so many questions about the nuts and bolts of real estate investing. The Book on Rental Property Investing by Brandon Turner: Brandon Turner is a real estate entrepreneur and vice president of growth at well-known real estate investing website BiggerPockets.com. A a really good book that helped me realize I don’t want to own a rental property right now. I also ordered his other two books (Managing Rental Properties and the No Money Down Book-I haven't read those yet however). See all details for The Book on Rental Property Investing: How to Create Wealth With... © 1996-2020, Amazon.com, Inc. or its affiliates. I ordered this on Kindle but realized I am going to be using this as a manual and I ordered the physical book too. He might just lead you to see some little thing in a new light. It is a comprehensive guide featuring in depth discussion and clear, concise (an honest rarity for this genre) examples on searching for properties, funding them, screening tenants, managing tenants, and everything in between. Such a great piece of rental property investment literature! Will certainly refer back to parts in the future. It also analyzes reviews to verify trustworthiness. The book was great and full of knowledgeable information however it was very annoying that just about every other page had an ad within it telling you why you should use/go to BiggerPockets. CHAPTER 1 WHY I LOVE RENTAL PROPERTIESWhy Rental Properties?1 Ability to purchase with leverage2 Ability to hustle for greater returns3 Ability to manage investment directly4 People always need a place to live5 It has worked for millions of people before6 Fairly stable and predictable7 Incredible variety8 Simple and straightfo, CHAPTER 1 WHY I LOVE RENTAL PROPERTIESWhy Rental Properties?1 Ability to purchase with leverage2 Ability to hustle for greater returns3 Ability to manage investment directly4 People always need a place to live5 It has worked for millions of people before6 Fairly stable and predictable7 Incredible variety8 Simple and straightforward. 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. As one of the books we will present to you now is the > Free Pdf The Book on Rental Property Investing: How to Create Wealth and Passive Income Through Intelligent Buy & Hold RealEstate Investing… “Direct mail is the act of sending out a large number of targeted letters or postcards to people who might be interested in selling their property … The best list you can buy and mail to is the ‘absentee’ list. Recommend to anyone looking to investment in real estate or who currently owns real estate. on the other slice. For anyone completely new to real estate investing, all the information might be a little overwhelming. Is this book specific to a country, or is the advice general enough to apply anywhere? Solid book. Brandon Turner is an author, entrepreneur, and active real estate investor with more than 500 rental units and dozens of rehabs under his belt. It addresses the downsides and issues you will probably run into as a real estate investor right off the bat. “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. Be sure to … I give 5 stars! Many people who make peanut butter and jelly sandwiches will be happy to tell you where they purchase their favorite ingredients. It isn't some "I will reveal the secret on the NEXT page" book (i.e. 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. 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. Loopholes of Real Estate (2013) by Garrett Sutton. However, the more leverage you use, the greater the risk you may be taking. 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. CHAPTER 10 WHICH PROPERTIES MAKE THE BEST RENTALS?What to look for when you are searching for a rental property:1 Bedrooms. First, go to the store and buy the ingredients. Inexpensive: Budget-friendly investing books ranging from $6 to $11 are generally paperback editions by lesser known authors. Others make it happen.”. The cover of this book says … Total Project Cost – Loan Amount = Total Cash NeededStep Three: Calculate the Monthly Mortgage PaymentUse a mortgage calculator. There is really nothing negative to say about this book, so I guess I have to give it 5 stars. Finally, put the two pieces together. First time reading a book on this topic. Such a great piece of rental property investment literature! (the closing date)WHY would I back out of this offer? Owning rentals is an investment.”3 Even if you can quit, should you? The book is amazing and the author covers exactly what the title implies. First, go to the store and buy the ingredients. CHAPTER 9 HOW TO FIND RENTAL PROPERTIESThere are eight different ways you can find investment properties:1 The MLS, or Multiple Listing Service. Will you deal include one? Every question I could possibly think of was answered in this 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. The Book on rental property investing review is incomplete without a mention of the way it can wrap up. It depends on the financials and the situation. You can use a butter knife, which isn't sharp enough to pierce the skin, and spreads very easily! Noice I picked up a lot of helpful tips from this. Having a cleaning system will set you up for long term success. 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. I learned a lot but it was a painful read. Your recently viewed items and featured recommendations, Select the department you want to search in, Great For New Investors Willing to REALLY Learn, Reviewed in the United States on April 12, 2018. It is given to a third party, not directly to the seller, who is handling the closing. Investing books range in price from $6 to $31. With hours 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 … ‘One of life’s most painful moments comes when we must admit that we didn’t do our homework, that we are not prepared’. You can still see all customer reviews for the product. Reviewed in the United States on August 17, 2017. “There is no denying the incredible role appreciation has played in investor’s lives, but there is also no denying the risk involved in relying on appreciation to make a profit,” especially when the market is appreciating like crazy.2 Cash flow3 Tax savings4 Loan paydown: “You can automate part of your wealth building by simply obtaining a loan on your rental property and using the income from your tenants to pay that loan down each and every month.”Downsides of Rental Property Investing1 Building wealth takes time2 It can be all consuming3 You have to deal with difficult people4 It involves paperwork and bookkeeping5 You can lose your investmentHow Much Money Does One Need to Invest in Rental Properties? I've built my business mostly from information I've learned from this company. “House flipping and real estate wholesaling are jobs. Others make it happen." 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. It really gives you a good overview of what you need to know at every stage of the process buying and leasing rental properties. “Real Estate Investing Gone Bad” by Phil Pustejovsky. Make sure to clean up your mess while its still small, trust me this will make things a lot easier (don't think 'I can't clean this mess! Michael Jordan (yes, that Michael Jordan) once said, “Some people want it to happen. I appreciate this book because it's realistic. By … When compared with getting a loan: Safe. Announcing the Winners of the 2020 Goodreads Choice Awards. I have been pretty much obsessed listening to Bigger Pockets podcasts over the last year - absolutely amazing content and resources for all things real estate investing. Great book. Rich Dad/Poor Dad). Brandon Turner is an experienced real estate investor. Use the following simple formula: Annual Cash Flow / Interest Rate = Cash Invested. turner brad. The problem with relying on appreciation is what happened in 2007! Just a moment while we sign you in to your Goodreads account. I GET MY BOOK BACK. I've read Rich Dad, Poor Dad. Choose properties that the tenant will pay for their utilities.5 Lawn. Couldn't recommend this book highly enough. 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. Turner (The Book on Managing Rental Properties, 2016, etc.) I recommend this book to those who are interested in generating wealth through the age-old method of rental property investing. I anticipate this book to be my number 1 resource for years to come as I start my rental property investing … I thought this book was actually helpful. Yes, the principles are the same, but I feel Turner has better cautionary notes and advice. 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. CHAPTER 7 TYPES OF RENTAL PROPERTIESThe author discusses the different types of rental properties. Dec 15 2015, 16:52; Real Estate Guru, Book & Course Reviews and Discussions The book on rental property investing … Maybe it just meshed well with the knowledge I already have and the knowledge I am lacking. I've read this book several times, and I always learn something new. This book walks you through the numbers which, I think in the end, is the only thing that really matters. As the author often writes "There is no one right answer, but there may be a right answer for you." Brandon lays the fundamentals down and guides the reader through practically every variable a "wannabe" real estate investor may face. Manage them. Thanks Brandon! Calvin Neal. That said, this book has a lot of great information for real estate novices. I have learned so much from Brandon's wise insight into buying, managing, and selling rental properties. He is the co-host of the “Bigger Pockets” podcast, which is the… I highly recommend it. The jump in benefit is amazing. In reality, many people have found success using many different methods. While I really liked the book it was very basic and for someone who has no knowledge of real estate investing especially in rental properties. Not sure I would read the whole thing again, but will definitely use it as a reference if needed. He offers many tips throughout the book. I like a book that bends more to the practical rather than the get-rich-quick. I would recommend this book to anyone. Good book for the beginner. 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