(the financing)WHEN am I panning to buy it? Love these guys! Dec 15 2015, 16:52; Real Estate Guru, Book & Course Reviews and Discussions The book on rental property investing … I've read Rich Dad, Poor Dad. Some wish it would happen. Many potential sandwich m, "Lets go through all of the steps to make a peanut butter and jelly sandwich! but this was so great and super useful. If you’re considering using real estate investing to build wealth or obtain financial freedom, this book is a must-read. I have learned so much from Brandon's wise insight into buying, managing, and selling rental properties. turner brad. In simple terms, enough to cover your down payment and reserves.You can use leverage (loan) for your down payment. Acquire assets. Prime members enjoy FREE Delivery and exclusive access to music, movies, TV shows, original audio series, and Kindle books. Ask some real estate agents who their preferred lender is.2 Make your loan application pencil out for the underwriter. Older homes need more fixing and the utilities bills are higher.3 Garage. ‘Meeting the 2% rule’ means that a property’s monthly rental income must equal 2% of the purchase price or greater.”Monthly Rental Income / Purchase Price = XHowever, the percentage (2%) is not fixed and it depends upon several factors.Steps to Analyze a PropertyStep One: Figure Out Total Project Cost1 Purchase Price2 Purchase Closing Costs: “Included might be loan points, loan origination fees, prepaid insurance, prepaid property taxes, title and escrow fees, recording fees, attorney charges, and other fees custom to your area.”3 Pre-Rent Holding Costs: “These costs will likely be the mortgage, taxes, insurance, and utilities.”4 Estimated RepairsStep Two: Figure Out The Financing and Total Cost Out of Pocket“We [need] to determine how much the financing on this property will cost us each month.” The down payment percentage is based on the purchase price alone. Others make it happen.”. Owning rentals is an investment.”3 Even if you can quit, should you? 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. This is the real estate book you are looking for. 3,120 global ratings | 813 global reviews, Reviewed in the United States on December 27, 2018. The Book on Rental Property Investing: How to Create Wealth and Passive Income Through Intelligent Buy & Hold Real Estate Investing. Others make it happen." If so, who will pay for it?8 Repairs: What do you need the seller to fix before you purchase the property? I'm now hooked on listening to their Podcast too. 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. Some wish it would happen. No loan paydown. Tenants will not take care of large yards efficiently.6 Parking7 LocationEight Problems [the author] look[s] for when shopping for a property that help him get a better deal:1 The bigfoot smell. I have read a lot of useless investment books. Reviewed in the United States on April 14, 2019. “House flipping and real estate wholesaling are jobs. This book has no motive to sell you a guru's course - it's purely educational. I also ordered his other two books (Managing Rental Properties and the No Money Down Book-I haven't read those yet however). "Lets go through all of the steps to make a peanut butter and jelly sandwich! Next, spread the peanut butter on one slice and the jelly (some call it jam, but I prefer jelly!) Download PDF. Never let anyone else do it for you. 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. This is better because the guy who wrote it is talking about NOW. 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. 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 … “[It] is an online classified section where it is free to post and free to browse.”7 Wholesalers8 Passion. We will determine the cash flow and the CoCROI it represents. Gary Keller provides both first-time and seasoned … The writing style and information within is super accessible, easy to understand, and helped clarify my personal goals and strategies. 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 Millionaire Real Estate Investor by Gary Keller. His podcasts are great and he gives the impression of a great person. CHAPTER 7 TYPES OF RENTAL PROPERTIESThe author discusses the different types of rental properties. 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! If you’re considering using real estate investing to build wealth or obtain financial freedom, this book is a must-read. 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. 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. Many people mess this up, but you're a SMART sandwich maker. I've read about 8 real estate books thus far and it's either #1 or 2 on my list. If you’re considering using real estate investing to build wealth or obtain financial freedom, this book is a must-listen. 5.0 out of 5 stars Great For New Investors Willing to REALLY Learn. Brandon lays the fundamentals down and guides the reader through practically every variable a "wannabe" real estate investor may face. … If you do so, you lose compound interest and exponential growth, which means the earned money is reinvested again in more assets. He might just lead you to see some little thing in a new light. And just like that, you have yourself a sandwich! It wraps up with a set of definitive target based objectives for the investor. “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. The gist: loan pre approval, find an investment, close on the investment, spruce up the place, find tenants, and manage the property. Every strategy, tool, tip, and technique you need to become a millionaire rental property investor! Some of the best investing books … 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. Noice I picked up a lot of helpful tips from this. This is a great read and I definitely recommend it for anyone just starting out in rental property investment. Many potential sandwich makers are afraid of cutting themselves, but there is no need to worry! 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. It addresses the downsides and issues you will probably run into as a real estate investor right off the bat. Was able to get this book and the audio version off the BP website on a special promotion. 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. However, the more leverage you use, the greater the risk you may be taking. With nearly 400 pages of in-depth advice for building wealth through rental properties, The Book on Rental Property Investing imparts the practical and exciting strategies that investors across … 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 … Thanks Brandon! There's a problem loading this menu right now. Many people who make peanut butter and jelly sandwiches will be happy to tell you where they purchase their favorite ingredients. 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. An incredibly informative book. Use the following simple formula: Annual Cash Flow / Interest Rate = Cash Invested. So when you plan to use all cash on your investment, pay attention to the following tips:1 Pretend you are not2 Use entities wisely: At least hide the fact that you own 100% of the property3 Consider financing later2 Conventional loans3 Portfolio lenders4 Private lendersOther creative methods are:1 Home equity: “[Your] equity can be borrowed against at very low interest rates through a home equity loan or home equity line of credit.”2 Partnerships3 Seller financing4 House hacking: “[It] refers to the unique strategy of combining your primary residence with an investment.” This can be done by either:1 A live-in flip: Buy a single-family house with the intention of fixing it up and reselling it within a couple of years.2 A small multifamily property: Buy a small multifamily property (two to four units), live in one unit, and rent the other units out.5 BRRRR investing (aka fix and rent or fix and hold strategy): “It combines the equity growth and quick financing of house flipping with the long-term stability and wealth creation of rental properties… The property is treated like a flip, using short-term financing such as private money, hard money, a home equity loan, or cash to acquire and rehab. “[It] is a loosely defined investment strategy in which the investor buys, rehabs, and has a property managed through a third party, usually from a long distance away.”. It addresses the downsides and issues you will probably run into as a real estate investor right off the bat. Gives you good details on many topics that can later be used as reference. Definitely a great resource to go back to in the future. Read Book on Rental Property Investing: How to Create Wealth with Intelligent Buy and Hold Real Estate Investing: 2 (Biggerpockets Rental Kit) book reviews … I wish I would have started with this book, it answered so many questions about the nuts and bolts of real estate investing. I rate this book a 5 star simply because it fulfills its promise in the title. Brandon lays the fundamentals down and guides the reader through practically every variable a "wannabe" real estate investor may face. by Brandon Turner ‧ RELEASE DATE: Oct. 28, 2015. 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 book is made to buy and put it on your shelf and use it periodically as a guide in rental property investing. Also, Brandon Turners gets very excited about real estate and that excitement is contagious. Couldn't recommend this book highly enough. It's a good collection of the most important bits of information found in a lot of other resources. The Winners of the 2020 Goodreads Choice Awards are:1 appreciation I have learned so from... I 'll be keeping it on my list said, this book a 5 star simply because fulfills. 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