-What it takes to manage
-What you should pay for management
-Five keys to keep residents happy
-Science of collecting rent
-Problem people and how to handle them
-Vacancy coming, here’s what to do
-Record-keeping can be easy
-How to get good service from contractors
-Keeping down upkeep
-Be your own controller
-How you can make money today
This is an excellent book as a beginning investor/landlord to look at when you begin investing in real estate. If you are ever going to hold any property versus flipping everything you get your hands on this is an excellent book.
The first place to begin is to see if you have what it takes to manage a property. The first chapter goes into the real qualities needed and helps you determine if you are a good candidate. If you are not, then no problem, just get a good management company to help you manage your investment property for you. If you are going to own a lot of properties and that is in your business plan then you will need to learn how to delegate management to companies that are best able. He covers that as well in later chapters.
So whether you are currently renting out the upstairs of your home or managing a 500 unit apartment complex, whether you’re interested in even a one family house of your own, this book will show you how to manage property more efficiently, more effectively, more profitably than you’re doing it now. If you’ve never managed property, this book will give you all the background you need to become a successful free-lance manager, paving the way to a lucrative new profession.
“Most owners know nothing about managing” says Dr. Lowry; this book is designed to help owners and managers alike avoid the pitfalls of hidden costs, problem tenants, unexpected vacancies, inadequate insurance, lost rental income, and more. Clearly written, well organized and fully detailed, with helpful summaries at the end of each chapter, it provides complete information and advice on:
-Selecting and training managers for your properties
-Starting in as a new manager
-Getting along with tenants
-Finding the best occupants
-The rental document—what to include
-Maintenance, Repairs, and Improvements
-Rent strikes and rent control
-Building your wealth
Having met Dr. Lowry several times and having him help me out when I was starting especially in setting up book keeping for tax purposes and figuring out the best legal ways of managing the tax code fairly but in a way that structured my business to get the best deductions, I can personally recommend this book.
Dr. Lowry has been a real estate investor for many years and has a wealth of knowledge to pass on to both new and old investors alike.
Enjoy this read and keep it in your collection of important investment books. This will be one you will refer back to help you manage your real estate career for maximum efficiency and profit.