Don't Have A Clue...HELP Best Course/book For..
Hi, i've done some rehab work (long turn around time) and had some lower end rentals that did not work out well and am loking for your opinion of the best course or book to get me started on the RIGHT path to realestate investment. best regards, toes
I don't know which book most people would recommend to you but I would be interested in knowing what did not work out for you on your previous investments. I am just starting out as well and am interested in avoiding mistakes also. I am sure there will be plenty of responses to your post.
hi, i had trouble collecting rent which would lead to evictions and by the time they're out you need to do some rehab or lower the rent. then you might have vacancies for a while so you fall behind in taxes and water bills...vicious cycle. probably mainly a location problem. but at the time it was all i could afford...or so i thought. same story with the rehab props...3-6 months fix up time then sits vacant because no one in the area wants to own and be responsible for something when they have a landlord babysit them. again probably location.
although some people seem to be able to make it work there!???
rubbertoes,
Properties in those areas are best sectioned 8 out. you get the money every month and if they destroy anything they get kicked off for life. Try that. As far as a book or course I know nothing about them. I was just suggesting a different rental system
Lori
[addsig]
A book that has really helped me understand real estate investing is, "Making Big Money Investing in Real Estate Without Tenants, Banks, or Rehab Projects" by Peter Conti and David Finkel.
Best regards,
Peter
I am a realtor, and new to RE investment, but I have read several books, and in my opinion the best book on lease/purchase, by far, is "Buy Low, Rent Smart, Sell High" by Scott Frank and Andy Heller (Dearborn). It is well written and clearly lays out a plan, and does not waste a lot of time on the obvious.
Thanks for the suggestions!
toes
rubbertoes
Did you ever get educated about being a landlord? Did you screen your tenants well and have systems in place to periodically check on the units? You seem to think that landlording is not for you, and maybe it is not. But did you get educated before you became a landlord?
Brenda
Hey Brenda, yes i got educated about landlording. but that is not the point of my posting. i'm asking advice regarding which book(s) or courses in realestate investment (ex. carlton sheets) would be recommended. You can screen tenants all day long but if they check out and then their drug dealer boyfriend moves you're stuck and have to pay to evict and lose rent whether you check on the peoperty daily or not. yes i was offended by the tone of your "advice". being as "educated" as you are i'm sure you know that you can invest in realestate and not have tenants. best reards,
toes