Written by Emily Koelsch for EZLandlordForms
Whether you’re just getting started as a real estate investor or are a seasoned investor with a thriving portfolio, it’s part of the investor job description to always be learning. Real estate markets and trends are constantly changing, and the best investors appreciate that learning is simply a part of real estate. Here is a run-through of our top 10 real estate investing books in 2024.
Hands-on experience and working with other Landlords is an important part of developing as an investor, but it’s important to couple this experiential learning with reading and some intentional professional development.
There are lots of real estate investing books out there to help you do this, but with so many resources available it can be hard to know where to start. Here are 10 of our favorites that we recommend you add to your reading list this year.
Written by investor and BiggerPockets.com VP of growth Brandon Turner, The Book on Rental Property Investing provides readers with a guide to using real estate investments to generate cash flow.
One feature we really like about this book is that it also outlines the biggest mistakes rental property investors make and provides tips for avoiding them. We’re all about learning from mistakes, but it’s awfully nice to get the chance to learn from the mistakes of others.
This is a good read for an introduction to investing and to get relevant tips that you can put into action right away.
Get Your Copy: The Book on Rental Property Investing
_________________________________________________________________________________________
This book is a must-read for investors that are new to real estate. It provides readers with a good overview of important investing skills – like finding properties, negotiating deals, and getting the most out of property management tools. If you’re interested in getting into real estate to generate cash flow and build long-term wealth, read this book before getting started.
Get Your Copy: The ABCs of Real Estate Investing
_____________________________________________________________________________________________
Written by Landlord Academy founder Bryan Chavis, Buy It, Rent It, Profit! is a good read for investors interested in acquiring multi-family properties. Chavis provides a step-by-step guide for readers to locate, purchase, and manage rental properties. It covers nitty-gritty details and big-picture strategy. For investors focusing on a buy-hold strategy or those looking to expand their portfolio, this is a helpful read.
Get Your Copy: Buy It, Rent It, Profit
____________________________________________________________________________________________
Michael Zuber is a real estate investor who built a real estate portfolio one rental at a time. His goal is to help others start investing with the goal of acquiring four rental properties. His premise is that having at least 4 rentals will change an investor’s financial life in profound ways, and he wants to help others get to this goal.
Think of this book as a mentoring session with an experienced investor. You’ll get practical tips and the encouragement you need to get started.
Get Your Copy: One Rental at a Time
___________________________________________________________________________________________
Mark Ferguson is a successful entrepreneur and real estate investor. In Build a Rental Property Empire, he offers a guide for both new and more experienced Landlords. The book offers real-world advice and helpful case studies. This is a good read for both the buy/hold investor and the investor looking to flip properties.
Get Your Copy: Build a Rental Property Empire
__________________________________________________________________________________________
This is a long-time classic that has been updated with new information and case studies to keep up with changing markets and real estate trends. It covers some essential premises of real estate investing and offers relevant advice about evaluating new opportunities and long-term profitability. Written by a Columbia professor, What Every Real Estate Investor Needs to Know About Cash Flow helps any investor “crunch numbers like a pro” to make good long-term investing decisions.
Get Your Copy: What Every Real Estate Investor Needs to Know About Cash Flow
__________________________________________________________________________________________
In The Millionaire Real Estate Investor, Gary Keller collects wisdom from over 100 millionaire real estate investors. Think of this book as an overall guide to how to build wealth through real estate. Because it includes such a broad range of investors, it offers many different perspectives and a comprehensive look at strategic real estate investing. And, while it’s told largely from the perspective of millionaires, you don’t have to be a millionaire to benefit from it.
Get Your Copy: The Millionaire Real Estate Investor
___________________________________________________________________________________________
One of the keys to good real estate investing is finding ways to get properties at a discount. One way to do this is to buy a fixer-upper. However, this requires some unique skills, as it’s necessary to accurately evaluate the cost of fixing up, restoring, and maintaining your investment properties.
The Book on Estimating Rehab Cost helps investors make good decisions about fixer-uppers, breaks the process of estimating costs down into manageable chunks, and offers checklists to guide investors through the process.
Get Your Copy: The Book on Estimating Rehab Costs
__________________________________________________________________________________________
Another way to buy a property at a discount is to buy in up-and-coming locations. If you can find emerging areas or areas with lots of construction, you can often get a deal on a property that will have above-average appreciation and rent increases in the years ahead.
That said, finding those markets is easier said than done. In Emerging Real Estate Markets, David Lindahl provides practical tips on how to look for and find areas that are on the rise.
Get Your Copy: Emerging Real Estate Markets
_________________________________________________________________________________________
Investors that are interested in flipping houses – as opposed to a buy, rent, and hold approach to real estate – should definitely read The Book on Flipping Houses. Written by professional flipper J Scott, it provides a step-by-step approach to house flipping, covering everything from evaluating potential markets to listing the finished product for sale.
Get Your Copy: The Book on Flipping Houses
There are several real estate investing books on the market, and each one offers its unique perspective on the industry. If you’re looking to invest in real estate, it’s important to read up on the subject so you can make informed decisions. What are the key things you learned from reading real estate investing books? Here are three tips to get you started.
1. You don’t need a lot of money to get started in real estate investing
2. Location is key when it comes to real estate investing
3. There are many different ways to invest in real estate
4. Real estate investing can be a very lucrative endeavor
5. Always do your research before making any investment decisions
Being a landlord or rental property owner can be a great way to earn some extra income. However, it’s not always easy. You have to deal with tenants, repairs, and all sorts of other issues. That’s where real estate investing books come in. They can help you learn about the ins and outs of the business, from finding the right property to managing it effectively. In addition, they can provide valuable insights into the real estate market, which can help you make better decisions about your investment. So if you’re looking to become a better landlord or rental property owner, don’t forget to give real estate investing books a try.
Once you’re ready to start buying – or continuing buying – investment properties, we’ve got everything you need to get the most out of your rental units. Visit ezLandlordforms.com to use our Free Rental Application, comprehensive Tenant Screening Service, state-specific Lease Agreement, and library of property management forms.
Did you enjoy this article?
This is an example of what is included on our FREE weekly newsletter, Landlord Weekly.
Subscribers get access to our free forms, email templates, and guides! As well as…
▪️Landlord Tips ▪️ Early Access to Our Blogs ▪️ Landlord Specific Articles by Other Industry Pro’s ▪️ Podcast Links
To check out a sample of our newsletter, click one of the links below👇
Provided by AAOA
The current rise in application fraud is alarming. As a result of it, alert landlords now routinely request bank statements to determine cash flow and pay stubs to verify employment and income.
Unless a person is extremely well versed in computer technology, it is difficult to get creative with a bank statement, so they are usually dependable. On the other hand, a pay stub is fairly easy to counterfeit. There are even websites that will create custom pay stubs for use as proof of income using an online pay stub generator.
But when confronted with a counterfeit pay stub, how is a landlord or property manager to know that it is not real?
The most obvious red flag when looking at a fake pay stub is when the formatting is off. Look for a variety of fonts and columns that are not properly aligned. Spelling, awkward language and grammatical errors are sure signs of counterfeiting. Inspect the stub for blurry or pixelated elements.
Next, look for missing information that would typically be included on a pay stub:
If you carefully examine the numbers on the pay stub, there are some sure giveaways that the stub is not legitimate:
One of the easiest signs that someone has submitted a falsified pay stub is inconsistent data. Watch out for the following examples:
TenantAlert provides the ONLY instant tenant screening service with LeaseGuarantee. The credit screening company with options and guarantees.
▪️ Select from a number of reports including credit background check, nationwide criminal, and nationwide eviction.
▪️ Add up to 4 applicants in one order to screen multiple roommates.
▪️ Use your application or send off the TenantAlert application when vetting tenants.
▪️ You can pay for the credit screening or send a link to your tenants for them to pay for the service.
▪️ TenantAlert has easy to read reports with summaries to help you determine if the applicant meets your qualifications or not.
▪️ They rate the applicant on a scale of 100 and offer a lease guarantee for up to $10,0000 of protection against damages, lost rent, or legal fees that you OR the tenant can pay (starting at $199/year).
Artificial Intelligence software and machine learning are becoming more popular and will make generating pay stubs easier, making it more difficult to spot a counterfeit pay stub.
Although third-party verification services have access to databases with real-time employment data and can confirm the accuracy of an applicant’s employment with ease, they are also very expensive to use.
Fortunately, you have easy access to AAOA’s Employment Verification service. For a modest fee, AAOA’s experts will contact the employer directly and ask the questions you want to know:
By using this service, You don’t have to guess whether the applicant actually works at the company they claim they do.
Employment Verification can be ordered at the same time you order an AAOA rental credit report and/or tenant background check or on its own as an individual report.
Don’t be a victim of application fraud. It’s critical that you recognize the red flags to safeguard your investment.
Did you enjoy this article?
This is an example of what is included on our FREE weekly newsletter, Landlord Weekly.
Subscribers get access to our free forms, email templates, and guides! As well as…
▪️Landlord Tips ▪️ Early Access to Our Blogs ▪️ Landlord Specific Articles by Other Industry Pro’s ▪️ Podcast Links
To check out a sample of our newsletter, click one of the links below👇
Provided by Fair Housing Institute
In the fast-paced world of property management, HUD complaint notices are not just another administrative task. They are a ticking time bomb that can detonate your operations if mishandled. This article exposes three common pitfalls property management professionals encounter when dealing with HUD complaint notices and offers a strategic roadmap to navigate these challenges effectively.
One of the most common errors in handling a HUD complaint notice is underestimating its seriousness. It’s easy to dismiss the urgency of these notices with thoughts like, “It will take ages for an investigator to look into this, so it can wait.” This type of thinking can be dangerously misleading. Every HUD complaint should be treated with immediate attention and gravity, as neglecting the early stages of the investigation can spiral into more significant issues later.
Immediate Action is Crucial: The initial response to a HUD complaint should involve a thorough review of the allegations, alerting your insurance carrier, and considering a consultation with legal counsel, especially if the potential for liability is high. Legal experts can offer a preliminary assessment of the risks involved and guide the following steps, including collecting specific documentation and preparing for interviews with all parties involved. In less complex cases, while upper management might handle the situation, the nuances of HUD regulations may require legal expertise.
Before the Complaint: Proper documentation is the backbone of effective property management. A robust documentation strategy supports operational efficiency and serves as critical evidence in disputes. Unfortunately, many property managers maintain inadequate records, which can severely weaken their position when a complaint arises. Essential documents include lease agreements, resident communications, maintenance logs, and formal complaints and resolutions. These documents are necessary to avoid unfavorable judgments and costly settlements.
After the Complaint: The initial complacency often extends to the post-complaint phase. Some managers delay vital investigations, such as in-depth interviews with staff and residents, and hesitate to collect necessary evidence promptly. This procrastination can lead to a scramble when deadlines approach, resulting in poorly gathered and presented evidence. To counter this, beginning a structured evidence-collection process is crucial immediately after receiving a complaint. This includes securing all relevant documents and digital communications, as well as preparing a list of potential witnesses and interviewing them. Also, a thorough review of your company’s policies and procedures is warranted. This way, you can see if there are any gaps and determine if they were properly executed by staff. These steps ensure you are better prepared to respond to the inquiry and defend your practices or provide relevant material to your legal team.
A landlords one stop shop for tenant management…for FREE
You can’t beat free and the only time you pay is if you want to purchase a lease or have expedited rent deposits. Most everything else costs zip, zero, zilch.
Whether a complaint is resolved in your favor or not, each case presents a unique learning opportunity that should be noticed. The absence of a structured post-mortem analysis is a critical oversight many property managers make. Reflecting on handling each complaint can reveal significant insights into operational weaknesses and areas for improvement.
Learning from Every Outcome: Successful complaint resolution doesn’t necessarily mean the approach was flawless. Similarly, an unfavorable outcome isn’t just a sign of failure but an opportunity for critical adjustments. Conducting a detailed review of the process, decisions made, and the effectiveness of the evidence presented can help refine complaint-handling procedures. This review should involve all stakeholders, including legal advisors, and result in actionable policy and practice changes where necessary.
Proactive Management: The ultimate goal is not just to manage and resolve complaints but to prevent their recurrence through proactive management and continuous improvement of practices. Property managers can significantly mitigate risks and enhance service quality by understanding the gravity of HUD complaint notices, ensuring comprehensive documentation before and after complaints, initiating swift and thorough investigations upon receiving complaints and engaging in continuous learning from each case.
Did you enjoy this article?
This is an example of what is included on our FREE weekly newsletter, Landlord Weekly.
Subscribers get access to our free forms, email templates, and guides! As well as…
▪️Landlord Tips ▪️ Early Access to Our Blogs ▪️ Landlord Specific Articles by Other Industry Pro’s ▪️ Podcast Links
To check out a sample of our newsletter, click one of the links below👇