Ken McElroy - The ABCs of Property Management: What You Need to Know to Maximize Your Money Now (Rich dad’s advisors), 1st Edition

This publication is designed to provide general information regarding the subject matter covered. However, laws and practices often vary from state to state and are subject to change. Because each factual situation is different, specific advice should be tailored to the particular circumstances. For this reason, the reader is advised to consult with his or her own advisor regarding that individuals specific situation.

The author has taken reasonable precautions in the prep aration of this book and believes the facts presented in the book are accurate as of the date it was written. However, neither the author nor the publisher assume any responsibility for any errors or omissions. The author and publisher specifically disclaim any liability resulting from the use or application of the information contained in this book, and the information is not intended to serve as legal advice related to individual situations.

Copyright 2008 by Ken McElroy

All rights reserved. Except as permitted under the U.S. Copyright Act of 1976, no part of this publication may be reproduced, distributed, or transmitted in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher.

CASHFLOW, Rich Dad, Rich Dads Advisors, Rich Dads Seminars, EBSI, B-I Triangle are registered trademarks of CASHFLOW Technologies, Inc.

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First eBook Edition: September 2008

ISBN: 978-0-446-54281-4

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Robert Kiyosaki

This book has been a long time coming. When I wrote Rich Dad Poor Dad in 2000, I said that a great property manager was the key to success in real estate investing. The reason for this is that great property managers create value. Thats because value, when it comes to investment real estate, is not only a function of markets, but it also impacts your bottom line. Your real estate is only as valuable as your renters think it iswhat they are willing to pay in rent. Rental income is ultimately the aspect of real estate you have the most control over. (And thus its the aspect that presents the greatest opportunity for failure as well.)

Property managers are valuable members of your team because they specialize in your real estate market, and they know how to maximize your investments income-producing potential.

Thankfully, Im smart enough to follow my own advice. That is why I sought out Ken McElroy to be an advisor to me on real estate investing and property management. Ken is an expert on both. His company owns and manages thousands of apartments across the United States. His knowledge and experience adds incredible value to my team.

That is also why Ken was the only option when we decided to offer a book on property management. You may already be familiar with Ken and his work. Perhaps youve seen him speak at a Rich Dad seminar, or maybe youve read his best-selling books, The ABCs of Real Estate Investing and The Advanced Guide to Real Estate Investing. And while Ken is an undeniable expert on the business of real estate investing, Im sure he will tell you that his first love and ultimate expertise is property managementthat is, creating value. In the end, its what sets Ken far ahead of the pack. And as he will tell you, its the key to what made him the successful investor and businessman that he is today.

While Kens previous books were tremendous guides for how to invest in real estate, this book may be the most important book Ken has written for the Rich Dad Company. Finding quality real estate deals to invest in is easy. Sustaining those investments and