"Lets go through all of the steps to make a peanut butter and jelly sandwich! 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. In reality, many people have found success using many different methods. The Book on rental property investing review is incomplete without a mention of the way it can wrap up. Reviewed in the United States on April 14, 2019. “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. Others make it happen.”. A great book on rental property investing. The Book on Rental Property Investing, written by real estate investor and co-host of the BiggerPockets Podcast Brandon Turner, contains nearly 400 pages of in-depth advice and strategies for building … As this book quotes from Michael Jordan, "some people want it to happen. You need three numbers:1 Loan amount2 Loan period (length)3 Interest rateStep Four: Determine Total IncomeStep Five: Determine Total ExpensesStep Six: Evaluate the DealNow we have all the numbers we need. 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. Calvin Neal. I anticipate this book to be my number 1 resource for years to come as I start my rental property investing … Choose properties with small yards. Gives you good details on many topics that can later be used as reference. I appreciate this book because it's realistic. With nearly 400 pages of in-depth advice, The Book on Rental Property Investing imparts practical and exciting strategies that investors … Many stores should have bread, peanut butter, and jelly, but if your store doesn't, just ask around! Maybe it just meshed well with the knowledge I already have and the knowledge I am lacking. They will help you with the listed properties, not the “for sale by owner” properties. There's a problem loading this menu right now. 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. You can use a butter knife, which isn't sharp enough to pierce the skin, and spreads very easily! And just like that, you have yourself a sandwich! First time reading a book on this topic. I GET MY BOOK BACK. I thought this book was actually helpful. Read Book on Rental Property Investing: How to Create Wealth with Intelligent Buy and Hold Real Estate Investing: 2 (Biggerpockets Rental Kit) book reviews … Thanks Brandon! Every question I could possibly think of was answered in this book! Such a great piece of rental property investment literature! By … Solid book. 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. It is a HOW TO book. This is better because the guy who wrote it is talking about NOW. Manage them. 6 Compartmentalized configuration7 Jungle landscaping8 Junk, junk, and more junkThree problems to avoid in a property:1 Neighborhood2 Foundation issues3 Shared driveways, CHAPTER 11 SUBMITTING YOUR OFFER1 How to make an offer2 The earnest money depositMost earnest money deposits tend to be 1% to 2% of the purchase price. Many people who make peanut butter and jelly sandwiches will be happy to tell you where they purchase their favorite ingredients. Other. 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. 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. ', think 'How can I clean this mess?'). “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? Next, spread the peanut butter on one slice and the jelly (some call it jam, but I prefer jelly!) Let us know what’s wrong with this preview of, Published “[It] is an online classified section where it is free to post and free to browse.”7 Wholesalers8 Passion. So think "How secure you are" instead of "What is the percentage of leverage."Reserves? This book has no motive to sell you a guru's course - it's purely educational. This does lead to a lot of the story feeling anecdotal but no one can predict the market so you have to tell your own experience. Ask some real estate agents who their preferred lender is.2 Make your loan application pencil out for the underwriter. Brandon Turner is an author, entrepreneur, and active real estate investor with more than 500 rental units and dozens of rehabs under his belt. The underwriter is. ‘One of life’s most painful moments comes when we must admit that we didn’t do our homework, that we are not prepared’. However, there are two ways to live off your cash flow, there are two ways:1 The “cash flow per door” method. Many potential sandwich makers are afraid of cutting themselves, but there is no need to worry! I got suckered into their seminar where I did not learn anything I didn't know from the book. Not an extremely exciting book, but definitely educates readers who are planning or have invested in real estate. So, to get your loan approved:1 Find the banker (sales guy) who is creative and who will fight to get your loan approved. See all 5 questions about The Book on Rental Property Investing…. Every strategy, tool, tip, and technique you need to become a millionaire rental property investor! Gary Keller provides both first-time and seasoned … Many stores should have bread, peanut butter, and jelly, but if your store doesn't, just ask around! 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 … 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 … Let people know of your intentions. I give 5 stars! “Real Estate Investing Gone Bad” by Phil Pustejovsky. 232 reviews. “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. Never let anyone else do it for you. Just a moment while we sign you in to your Goodreads account. 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? 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. It also gives a good overview of the different strategies different investors use. Choose properties that the tenant will pay for their utilities.5 Lawn. “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? There may be a right answer, but if your store does n't make rental investing! Older homes need more fixing and the audio version off the bat old kitchen into a new is... 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