The Book on Rental Property Investing PDF: How to Create Wealth and Passive Income Through Intelligent Buy & Hold Real Estate InvestingThis book will likely ruin your life, as great books tend to do. It will challenge the way you look at life, finances, and real estate. It will lead you to envision a different life for yourself, one not suggested by your parents, society, your alma mater, or the media. It will encourage you to step out and create a whole new path for yourself, one that you construct out of thin air. It will introduce you to numerous ideas, paths, strategies, and concepts for achieving financial freedom through rental properties.
2022 update: We’re sorry, this book is currently not available! (DMCA)
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Category: Personal Finance
Author: Brandon Turner
Language: English
Free Download link: At the end of the post
Introduction- The Book on Rental Property Investing PDF
From the author
This book will likely ruin your life, as great books tend to do. It will challenge the way you look at life, finances, and real estate. It will lead you to envision a different life for yourself, one not suggested by your parents, society, your alma mater, or the media. It will encourage you to step out and create a whole new path for yourself, one that you construct out of thin air. It will introduce you to numerous ideas, paths, strategies, and concepts for achieving financial freedom through rental properties. It will give you answers to questions you never knew to ask, and likely leave you with a few more questions I didn’t think to answer (but don’t worry, that’s not a bad thing).
My goal with this book is to create the single greatest guide on rental property investing ever written. Trust me, I’ve read hundreds! In each chapter, I will explore one specific step in rental property investing, explaining it in depth and helping you understand how to navigate every stage of the process.
Whether you are just getting started or already own hundreds of units, I hope this book will help you make more income, retire sooner, unlock more free time, amass more units, or achieve whatever other goals you might have. Yes, this is an ambitious undertaking, but I am up for the challenge. Are you?
Finally, I believe one pass through this book will not be enough. I include so many lessons, tips, stories, and details that you’ll likely remember only 20% of what you read. Do you want to be only 20% prepared to take on your first (or next) rental property investment? I didn’t think so! I therefore encourage you to read this entire book not just once but multiple times. You’ll never look back at your life and say, “I sure wish I hadn’t spent so much time preparing for my future.” As good ole Abe Lincoln reportedly remarked, “Give me six hours to chop down a tree, and I will spend the first four sharpening the axe.”
It’s time to sharpen your axe. I’ll see you in Chapter 1.
Your friend,
Brandon Turner
Table of Contents- The Book on Rental Property Investing PDF
PROLOGUE
WHAT DO YOU WANT?
ABOUT ME
ABOUT THIS BOOK
CHAPTER 1 – WHY I LOVE RENTAL PROPERTIES
WHY DO I LOVE RENTAL PROPERTIES SO MUCH?
THE FOUR WEALTH GENERATORS
HOW MUCH MONEY DOES ONE NEED TO INVEST IN RENTAL PROPERTIES?
TOP FIVE DIFFICULTIES OF RENTAL PROPERTY INVESTING
BUT I DON’T WANT TO FIX TOILETS AT 2:00AM!
WHY DO SO MANY RENTAL PROPERTY OWNERS FAIL?
QUITTING (OR NOT QUITTING) YOUR JOB THROUGH RENTAL PROPERTIES
WHAT NEXT?
CHAPTER 2 – THE FIVE KEYS TO RENTAL PROPERTY SUCCESS
1. THINK THE RIGHT THOUGHTS
2. STUDY THE RIGHT SOURCE
3. PICKING THE RIGHT PLAN
4. ACQUIRE THE RIGHT ASSET
5. MANAGE THE RIGHT METRICS
CONCLUSION
CHAPTER 3 – FOUR SAMPLE PLANS
PLAN 1: HOW TO MAKE $1,000,000 THROUGH RENTAL PROPERTIES
PLAN 2: BUILDING WEALTH THROUGH SINGLE-FAMILY HOMES
HOUSE HACKING
HOW TO MAKE $100,000 PER YEAR USING THE BRRRR STRATEGY
CONCLUSION
CHAPTER 4 – THE TEN MEMBERS OF YOUR REAL ESTATE TEAM
1. SPOUSE
2. MENTOR/ACCOUNTABILITY PARTNER
3. REAL ESTATE AGENT
4. LENDER(S)
5. CONTRACTORS AND HANDYMEN
6. BOOKKEEPER
7. CPA
8. LAWYER
9. INSURANCE AGENT
10. PROPERTY MANAGER
CHAPTER 5 – ANALYZING A RENTAL PROPERTY
HOW TO ANALYZE A RENTAL PROPERTY
WHAT IS CASH FLOW?
123 MAIN STREET ANALYSIS
PUTTING IT ALL TOGETHER
CHAPTER 6 – INVESTING WHILE LIVING IN AN EXPENSIVE AREA
ARE YOU LOOKING FOR HOMES ON SALE?
IS THE PRICE RELATIVE?
WHAT IS WORKING IN YOUR AREA?
HAVE YOU CHECKED THE OUTSKIRTS?
INVESTING IN AN EXPENSIVE AREA: WRAPPING IT UP
CHAPTER 7 – TYPES OF RENTAL PROPERTIES
SINGLE-FAMILY HOMES
MULTIFAMILY REAL ESTATE
CONDOS
TOWNHOMES
REOS/FORECLOSURES
FIXER UPPERS
FIVE QUESTIONS TO ASK BEFORE INVESTING IN A FIXER UPPER
COMMERCIAL REAL ESTATE
WRAPPING IT UP
CHAPTER 8 – LOCATION, LOCATION, LOCATION!
NEIGHBORHOOD CLASSES
CRIME
DRUGS
SCHOOLS
JOBS VERSUS UNEMPLOYMENT
POPULATION GROWTH
HOUSING STARTS AND BUILDING PERMITS
TRANSPORTATION
PROXIMITY TO LOCAL BUSINESSES
PRICE-TO-RENT RATIO
VACANCY RATE
PROPERTY TAX AND INSURANCE RATES
MOVING ON
CHAPTER 9 – HOW TO FIND RENTAL PROPERTIES
1. THE MLS
2. DIRECT MAIL MARKETING FOR DEALS
3. DRIVING FOR DOLLARS
4. EVICTION RECORDS
5. BIGGERPOCKETS MARKETPLACE
6. CRAIGSLIST
7. WHOLESALERS
8. PASSION
CONCLUSION
CHAPTER 10 – WHICH PROPERTIES MAKE THE BEST RENTALS?
EIGHT PROBLEMS I LOOK FOR WHEN SHOPPING FOR RENTAL PROPERTIES
3 PROBLEMS I AVOID WHEN SHOPPING FOR A RENTAL PROPERTY
WRAPPING IT UP
CHAPTER 11 – SUBMITTING YOUR OFFER
HOW TO MAKE AN OFFER
THE EARNEST MONEY DEPOSIT
WHAT SHOULD THE OFFER INCLUDE?
HOW MUCH SHOULD YOU OFFER?
16 TIPS FOR GETTING YOUR OFFER ACCEPTED
WRAPPING IT UP
CHAPTER 12 – REAL ESTATE NEGOTIATION
THE NEGOTIATION PROCESS
WHEN TO NEGOTIATE
13 TIPS FOR SUCCESSFUL NEGOTIATION
CONCLUSION
CHAPTER 13 – FINANCING YOUR RENTAL PROPERTY
ALL CASH
CONVENTIONAL LOANS
PORTFOLIO LENDERS
OTHER CREATIVE METHODS
CONCLUSION
CHAPTER 14 – HOW TO GET A LOAN APPROVED, GUARANTEED
UNDERSTANDING HOW A LOAN WORKS
THE 12-DIGIT CODE YOU NEED TO GET YOUR LOAN APPROVED
MAKE YOUR LENDER’S JOB EASIER TO GET YOUR LOAN APPROVED
MOVING ON
CHAPTER 15 – THE DUE DILIGENCE PROCESS
WHAT IS DUE DILIGENCE?
CONCLUSION
CHAPTER 16 – GETTING READY TO CLOSE
ORDER INSURANCE
DO I NEED AN LLC?
FINAL WALK-THROUGH OF THE PROPERTY
PLAN THE REHAB
SIGN THE DOCS
WRAPPING IT UP
CHAPTER 17 – MANAGING YOUR RENTALS (PART I)
SELF-MANAGEMENT VERSUS PROPERTY MANAGEMENT
BUSINESS OR HOBBY: GETTING IN THE RIGHT MINDSET
GETTING A PROPERTY READY TO RENT
FIVE WAYS TO FIND GREAT TENANTS
ACCEPTING PHONE CALLS
SHOWING THE PROPERTY TO TENANTS
THE APPLICATION PROCESS
WRAPPING IT UP
CHAPTER 18 – MANAGING YOUR RENTALS (PART II)
MAINTENANCE AND REPAIRS
LANDLORD VERSUS TENANT RESPONSIBILITIES
ANNUAL PREVENTATIVE MAINTENANCE
DEALING WITH DIFFICULT TENANTS
TRAINING YOUR TENANTS
1. LATE RENT
2. NEIGHBOR CONFLICTS
3. MOVING IN UNAPPROVED PETS OR PEOPLE
4. BREAKING A LEASE
5. DRUGS
IF YOU ARE UNHAPPY, YOUR SYSTEM IS BROKEN
CHAPTER 19 – EXIT STRATEGIES AND 1031 EXCHANGES
HOLD FOREVER
SELLER FINANCING
CASH OUT
THE 1031 EXCHANGE
WRAPPING IT UP
CHAPTER 20 – FINAL THOUGHTS
THE FIVE SUCCESS PRINCIPLES OF RENTAL OWNERSHIP
WILL YOU TAKE ACTION?
ABOUT THE AUTHOR
MORE FROM BIGGERPOCKETS
Reviews
Excerpts
“If you do this, Brandon, you’re going to go broke, be homeless, and ruin your life. Please reconsider. ”
This was not the response I was hoping for when I finally told my parents I wasn’t going to go to law school, despite months of studying and a strong score on the law school entrance exam. Instead, I had set my sights on becoming a real estate investor.
I had been raised in a “go to school, get a great job with a great company, and be responsible” household. I can’t fault my parents for this mentality — after all, this was how they themselves had been raised. My parents are incredible people who simply wanted the best for me, but I needed to do things differently.The path I had in mind was neither better nor worse — just different.
My entrepreneurial itch led me to the fascinating world of real estate investing, and specifically to rental properties. The idea of using my creativity in place of cash to build passive income exhilarated me. However, my ambitions hit an almost immediate roadblock with my parents’ warning of catastrophic failure.
My tenants wouldn’t pay, they feared. I would have to deal with evictions. I would lose all my money, lose my properties, end up on the street, start dealing meth, and for good measure, probably end up killing someone in a bar fight.
All because I wanted to be a real estate investor. At that point, I was forced to face my future head on. Do I abandon my newly discovered dreams and come back to earth? Should I suck it up, stop complaining, and go to law school? After all, my parents had a point. A good law education pretty much guaranteed a good job. A good job meant stability.
Real estate, on the other hand, didn’t seem very stable. What if my tenants wouldn’t pay? What if I had to deal with evictions? How could I survive?
Before giving up and accepting what seemed to be my fate, I turned to the only source I knew at the time to ask: Google which brought me to this brand new website called BiggerPockets. Suddenly, a switch flipped in my brain. There on the screen were other aspiring (and practicing) investors with the same questions and concerns.
More importantly, there were answers.
My entrepreneurial ambitions didn’t necessarily mean I would end up a meth dealer wanted for murder. My quest for knowledge brought me to BiggerPockets.com, for which I now blog, design, write, teach, network, and help out however I can. But that’s a story for another day…
In short, I had discovered that all my questions had answers. There was hope. “Financial freedom” was not just a buzzword late-night charlatans used to sell their programs. Financial freedom was a real thing, enjoyed by millions of people around the world. And I wanted it with every ounce of my being!
So I confronted my parents’ concerns, quit my job, walked away from my law school applications, and jumped into full-time real estate investing, acquiring dozens of rental units over the next decade. I just turned 30 years old this year.
I’m not a multimillionaire, I don’t drive a Tesla (yet), and I definitely don’t spend my life on the beach, though I enjoy an occasional nice vacation.
What I do have, however, is financial freedom. Because of my real estate investments, I’m able to live the kind of life I choose, not one given to me. As I continue to earn more money, I can pour that extra income into additional investments. My current investments are allowing me to buy more investments, a concept known as “exponential growth”—and it’s freaking awesome! Thanks to my rental properties, I am creating an awesome future for myself, my wife, and our future children.
Most real estate authors and gurus tend to be reluctant about sharing information about their personal investments, but I say, screw that! As of today, I have 44 units, spread out over a dozen or so properties (both single family and multifamily). In the beginning, I worked hard to acquire them, and now I try to pick up a few new ones each year. My wife and I manage the properties ourselves, splitting the duties and sharing the rewards.
To help us keep our life sane and manageable, we collaborate with some great individuals, including an incredible part-time office manager, numerous contractors, and other valuable professionals. We travel a lot, but in a modest way. We buy nice stuff, but we don’t overdo it. We hang out with our friends and family every chance we can. And we absolutely enjoy life to the fullest. Real estate has been a major contributor to our lifestyle design. Furthermore, I am not done with my journey. I am not writing this book from the position of “back in the day, this is how it was done.” I am writing it in real time, as I live the very life I’m describing. As I said before, this is a journey you and I are on together, and I still have more to learn. I’ll make mistakes, screw up, get frustrated, and feel discouraged. I don’t yet have it all together.
I hope that this book will be different because of this.
I can’t tell you how many books I’ve read by has-been investors who no longer invest and are teaching tactics that no longer work because the game has changed. I’m happy for them that they achieved financial freedom and were able to retire, but that’s not me.
I only want to teach what I actually do.
About the author
Brandon Turner lives with his wife Heather, two dogs, and two cats in Grays Harbor County, Washington. Brandon is an active real estate investor throughout his local area, specializing in rental property investing on properties ranging from single-family houses to medium-sized apartment complexes. You can find out more about Brandon at http://www.biggerpockets.com/users/brandonatbp or on his personal website, www.BrandonTurner.me.
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2022 update: We’re sorry, this book is currently not available! (DMCA)
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