Extremely Good Ideas for Newbies
Written: Jun 28 '04
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Product Rating:
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Pros: This book kept my attention and taught me how to manage a property.
Cons: The methods of managing their way is very exhausting.
The Bottom Line: I have already given this book to others to read. I find it very plain and easy to read and follow.
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| rabidbulldog's Full Review: Irene Milin and Mike Milin - How to Buy and Manage... |
I just love Real Estate books. I think I love them so much because they are teaching me the way that I can make a fortune without coming up with my own Microsoft. In order for that fortune to happen, I have to study out ways to earn as I knew they wouldn't come my way blindly; money rarely does. As I was searching for the right book to start with, I had my eye set on finding Rich Dad, Poor Dad, but it was too much. I only had a couple dollars I was willing to pay on a book and while searching the real estate investing section of half.com, I found this book for only $2.50 or so which had shipping included. My next step was to check epinions to see what information I could find on the book but nothing existed.
The quest began...
I was able to comprehend all the terms used throughout the book and was able to put myself in the place of the writer's beginning circumstances almost. I am young and have almost no money and wanted to know how to get lots for not doing too much, but willing enough to do a lot. Mr. Milin wrote about how he and his wife had bare bones, and if I remember correctly, he had just lost his job. After paying for seminars and tapes and books, they started their real estate career. According to them, when the book was written they had over 100 houses and they had been in the rental business for at least 4 years.
Many ideas they gave would definitely force one to get a good paying tenant. Their ideas on management and filling vacancies have caused me to see rental units in a whole new light. I never thought of troubles I might have to come in contact, for instance, if I didn't have an "office" and the tenant knew where lived. I was enlightened on "key showing" deposits and how much deposit to charge and why. For instance, if you charge the same amount for rent as your deposit, many tenants will think that the deposit will be for the last months rent. That's not necessarily true because damage may have taken place during occupancy. They had many ideas and I will by no means tell everything this 200+ page book had within it's realm.
Followup on this book: By reading this book, I realized that I do not want to manage any property for myself. I'd rather give someone else the headache, buy the good places and pull in the positive cash flow while someone else is doing the work for me. Funny how reading a book to teach you how to be a property manager will make you want someone else to manage the property for you. I think, though, that through this book, as I've shopped for property managers, I've been able to share my ideas with theirs and get a killer team going. Next thing down is capitol...hmmm...
Recommended:
Yes
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Epinions.com ID:
rabidbulldog
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Location: Southern Cali
Reviews written: 93
Trusted by: 78 members
About Me:
I work. I get paid. I spend. Others work and complete the cycle.
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