Charles Pennyfeather - Rental Property Investing: Unlock the Secrets of Real Estate Investing and Management, Including Tips on Negotiation and Finding Investment Properties that Will Give You Passive Long-term Income

Rental Property Investing

Unlock the Secrets of Real Estate Investing and Management, Including Tips on Negotiation and Finding Investment Properties that Will Give You Passive

Long-term Income

Copyright 2019

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Introduction

W hen it comes to real estate investment properties, the first thing that might pop into your mind is your home; however, residential real estate can play a significant role in any successful and diversified portfolio.

When you invest in residential real estatemost often referred to as leased property, and is a tangible assetyou get a secure and interactive investment opportunity that enables you to expand your financial portfolio. Furthermore, having a rental property is a safe and excellent means to grow your wealth.

Rental property investment and management can be as simple as playing a game of monopoly, as long as you master the fundamental factors of economics, finance, and risk. To succeed, you have to purchase properties, avoid bankruptcy, and generate rent so that you can buy more properties. But dont forget that simple doesnt mean easy. If you make a mistake, the results can span from minor to major disasters. You may even find yourself broke or worse.

In this book, you will learn the secrets that successful investors use to run their property investments.

The first chapter details the basics and responsibilities of becoming a landlord.

Next, you will learn how to find investment properties that can provide both short-term and long-term rental income. Once you have mastered the different strategies, you will then learn how to run the actual property.

Following on from this, you will discover how to add value to your rental property, including how to build a successful business model.

The fourth and fifth chapters focus on how to analyze your rental property and the different ways you can finance your property, respectively.

The sixth chapter delves into the best methods to negotiate deals. You will learn why listening is critical when you need to start a negotiation, and why you should use mirrors in your conversation.

The final chapter concentrates on the best secrets of rental property investing and management. Most importantly, how to choose the right plan, how to select members for your rental investment team, and how to manage your rentals and exit strategies.

Lastly, you will learn about the mistakes to avoid in rental property investment.

Whether you are new to rental property investing or organizing your third income property, this book has great nuggets of advice.

Time to dive in!

Chapter 1: Becoming a Landlord

B ecoming a landlord can be a great option for increasing your wealth. If this is your plan, here are some solid first-time pointers:

• Be ready for the kind of work involved. From screening for tenants to filling out legal agreements to taking care of utilities, it is crucial to know what you are getting yourself into.
• As a landlord, you need a real estate lawyer to assist you in dealing with any legal problems that might occur. Different federal and state laws deal with rental matters, such as security deposits, lease agreements, discrimination, late rental payments, and maintenance.
• If you own a property that you would like to rent out, but you dont want to deal with the everyday tasks, then look for a property management company.
• You will need to work hard to get the right tenants. If your tenants turn out to be bad choices, then you need to be ready to evict them.

A ccording to a report by the National Association of Realtors 2017 Investment and Vacation Home Buyers Survey, in 2016, investment property increased from 1.09 million to 1.14 million.

Working as a landlord can take different forms. You can be entirely free, allowing others to do all the work for you, or you can be your own boss and gradually grow your net worth. However, it is not for everyone.

Do you have the skills and experience it takes?

Only a few newbies find it easy to become a landlord. For many, it is just hard work. Some experience problems, especially when the economy and market arent running wellthat is when tenants begin to fail to pay the rent.

If you have lived in a rented house or apartment, you may have never met your landlord. That is because he or she may have chosen to let other people maintain and manage the property.

Alternatively, your landlord may have lived in one of the rooms in your building. So you may have met or passed each other every day without knowing. Or they may have done all tasks and responsibilities like repairing a leaky faucet.

W hether landlords decide to do everything on their own or appoint others to do it, they still have the primary responsibility for many tasks, such as:

Finding the right tenants

1. Advertising for new tenants Youll soon learn how to get in touch with your target market. However, todays online platform provides local classified advertising, like Craigslist, that is considered cost-effective.
2. Filing legal agreements You need to have a lease agreement for every rental. Crucial items to include in a lease are clear statements that show who is responsible for different tasks, such as maintaining of the yard to ensure upkeep of appliances.