Want to start investing in rental properties? These books can help you get there.
Rental property investing can make money. A rental investor can make up to $121,000 a year if they do well. There’s a chance that these earnings won’t come out of the blue, of course. If you want to make money investing in rental properties, you’ll have to put in a lot of work and be good at it.
It sounds like you might be interested in renting out your home. Want to make sure you’re ready for money? These books on investing in rental properties can help you out, as well.
Build a Rental Property Empire: The No-nonsense Book on Finding Deals, Financing the Right Way, and Managing Wisely by Mark Ferguson
Mark Ferguson, a long-term investor and real estate agent, wrote Build a Rental Property Empire, which is a good book for people who want to start investing in real estate. With advice on how to find, manage, and pay for rentals, this book covers almost every part of the investment process. One Amazon (NASDAQ: AMZN) reviewer said it had a “very conversational tone and very, very useful information.” If you don’t want to use complicated words, this real estate investing book might be the answer.
Investing in Rental Properties for Beginners: Buy Low, Rent High by Lisa Phillips
There are two things Lisa Phillips likes to do: buy low and rent high. In Investing in Rental Properties for Beginners, Phillips focuses on properties that cost less than $30,000. He walks readers through how to find, buy, and make money from these low-cost homes. If you’re interested in buying or selling real estate, this book is for you. It’s full of advice from a real estate investor who has been doing it for a long time. Life-saving: One reviewer said that some of her techniques, such as CPR, can be used to help people. “Some of this may seem like common sense, but some of it is so clever that I’m kind of amazed.”
The Book on Managing Rental Properties: A Proven System for Finding, Screening, and Managing Tenants With Fewer Headaches and Maximum Profit by Brandon and Heather Turner
This one talks about how to actually run your rental property business once you own it. Brandon and Heather Turner wrote the book together. It talks about what it’s like to be a landlord and what it’s like to own your own home. You’ll learn how to find good tenants, make an iron-clad lease, keep track of your money, and more. The book has 4.8 out of 5 stars on Amazon, which means it’s a good one.
Every Landlord’s Tax Deduction Guide by Stephen Fishman
When you find an investment property, you want to cut down on the taxes you’ll have to pay. This book will help. It was written by a tax lawyer named Stephen Fishman, and it shows you what credits, deductions, and write-offs you might be able to get in your rental business. There are also tips on how to file your taxes, how to figure depreciation, how to keep records, and a lot more.
Multi-family Millions: How Anyone Can Reposition Apartments for Big Profits by David Lindahl
Buying a multifamily property is something you might want to think about. This book is written by David Lindahl, a real estate investor and the founder of RE Mentor, who has been in the business for many years. The book gives advice on how to find multifamily properties that have a lot of potential, how to renovate them, and how to make a lot of money from them. If you go to this class, you’ll also learn about common mistakes that people make and how to pay for rentals. People who read the book said that it was their “favorite book on multi-family.”
Every Landlord’s Guide to Managing Property: Best Practices, From Move-in to Move-out by Michael Boyer
It’s for people who are just starting out in the rental business (or who still have a job at the same time). In this book, you’ll learn everything you need to know about renting out your home, from how to market it and keep it in good condition to how to deal with bad tenants and work with contractors. Consider it a guide for people who are just starting out.
Buy It, Rent It, Profit! Make Money As a Landlord in Any Real Estate Market by Bryan Chavis
Bryan Chavis, an experienced investor and the founder of the Landlord Property Management Academy, wrote this one. It “makes sense of the process of evaluating, buying, and managing rental property,” he says. This course is for people who want to invest in multifamily properties. It will teach you how to find the right property, work with tenants, run your business, and more. It even comes with lease forms and other documents.
The Book on Rental Property Investing: How to Create Wealth With Intelligent Buy and Hold Real Estate Investing by Brandon Turner
Another book written by Brandon Turner, a successful investor, is The Book on Rental Property Investing. It gives advice on how to make deals, how to finance and pay taxes, and how to keep your properties in good shape. They said the book was great for new investors who were willing to learn a lot from it. 🙂 “If you want to learn about real estate, this book is for you. Getting rich quickly isn’t the point. On the next page, I’ll tell you the secret. You can’t help yourself with it. How-to book:”
The Real Estate Game: The Intelligent Guide to Decisionmaking and Investment by William Poorvu
This one is a little different from the other ones on the list. Professor William Poorvu’s book doesn’t give specific advice about how to be a real estate success. It talks about how all the factors that affect a real estate deal work together to make it happen. Investors who follow Poorvu’s advice can better assess a deal’s value and move their careers in the right direction. You should read this one if you’re not sure how to invest your money.
Every Landlord’s Legal Guide by Marcia Stewart
Make sure your rental business is in full compliance with this guidebook, and then check to make sure it is. It gives advice on how to screen tenants without risking discrimination charges, how to write a good lease, how to deal with bad renters, and how to keep your liability to a minimum. Check out this chart to see what laws each state has. There are more than 30 forms you can make your own and use.
Landlording on Autopilot: A Simple, No-brainer System for Higher Profits and Fewer Headaches by Mike Butler
Worried that being a landlord is going to be a lot of work? Take a look at this easy-to-read book. During the interview, real estate investor Mike Butler talks about how he managed 75 rental properties on his own while working full time for the Louisville Police Department. He also talks about how he did it. The book has a lot of forms that can be changed, as well as information about Butler’s “autopilot” system that he still uses to this day.
The bottom line
Even if you’re just starting out as a rental property investor or you want to improve your skills a little, the right real estate book can help you. Want more help? Check out this detailed guide to real estate to learn more about what it is all about. Flipping houses is a great way to make money, but if you want to invest in commercial real estate, these books can help.