shooter47
New Member
Joined: Jan 7, 2011 15:05:20 GMT -5
Posts: 17
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Post by shooter47 on Jan 7, 2011 15:14:58 GMT -5
I was wondering if anyone can recommend a good book on the ins and outs of rental real estate. I want to be a landlord one day and am saving up money to purchase a rental. Before this happens I would like to educate myself a little further. I have followed your money for a little over a year and have been more of a lurker up until now. I understand the basic ideas on why to become a landlord (leverage, passive income) but want to learn more about how to start.
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HoneyBBQ
Junior Associate
Joined: Dec 27, 2010 10:36:09 GMT -5
Posts: 5,395 
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Post by HoneyBBQ on Jan 7, 2011 15:45:40 GMT -5
Haha, me too. ^bump^
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Post by kinetickid on Jan 7, 2011 15:48:26 GMT -5
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phil5185
Junior Associate
Joined: Dec 26, 2010 15:45:49 GMT -5
Posts: 6,412
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Post by phil5185 on Jan 7, 2011 16:05:57 GMT -5
I took the State Real Estate class - about 3 weeks, 3 nites a week, 3 hrs per class. About $300 in the 1980's. probably $500 now?
Neat stuff - RE & Landlord Law, mortgage math, landlord war stories, how to buy/sell, contracts, purchase agreements, local knowledge from the realtor-instructor.
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whoisjohngalt
Junior Associate
Joined: Dec 18, 2010 14:12:07 GMT -5
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Post by whoisjohngalt on Jan 7, 2011 16:42:09 GMT -5
I took that class also, but it didn't teach me anything about landlording. I've read quite a few of those books 6-7 years ago when I started doing some RE, and I firmly believe that nothing will teach you about RE like personal experience.
The only other valuable resource I found was a local RE investment group. When I lived in MD, there was an excellent one there and people were very generous with information. And the info was "local". All those books can give you general ideas, but areas vary greatly and it might not be as useful.
Lena
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HoneyBBQ
Junior Associate
Joined: Dec 27, 2010 10:36:09 GMT -5
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Post by HoneyBBQ on Jan 7, 2011 16:43:34 GMT -5
Hmmm any ideas how I could find these groups? Google "real estate groups" & my city?
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whoisjohngalt
Junior Associate
Joined: Dec 18, 2010 14:12:07 GMT -5
Posts: 9,140
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Post by whoisjohngalt on Jan 7, 2011 16:57:19 GMT -5
Yep, try googling RE investment group or RE investment club and your location Also may be try this: www.nationalreia.com/good luck!! Lena |
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2kids10horses
Senior Member
Joined: Dec 20, 2010 20:15:09 GMT -5
Posts: 2,759
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Post by 2kids10horses on Jan 7, 2011 23:08:59 GMT -5
I'm a landlord, and a REALTOR, but I was a landlord first. There is ABSOLUTELY NOTHING in the Real Estate Licensing course that helps you be a landlord. In fact, it can be a DISADVANTAGE to be a REALTOR and a landlord. So, Phil, we agree on most things, just not this one. Maybe your state is different from mine. Anyway, I have always recommended joining your local Real Estate Investors Association. (REIA) Every major city has one. You can get lots of information there. GAREIA has a library, and you can check out books, videos, audio tapes of seminars and manuals of all types. I started with the Carlton Sheets program you see advertized on late night TV. It worked for me! But, visit the "MR LANDLORD" site on the web. That's a good resource. Also, there is a guy in Atlanta, John Adams, who has a radio show, and writes the Real Estate column for the Atlanta Journal and Consititution. His web site is www.money99.com. He has good info. He sells a "Landlord Survival Guide" that has a lot of tips. It's geared for GA law, but the landlording techniques should apply nationwide. |
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