If you bought the book on rental property investing, then you might as well buy its sequel “The Book on Managing Rental Properties” by Brandon Turner.
Rental properties are one of the best ways to earn passive income. Buy a property, rehab the house to make it a bit more presentable (higher rental fee too!), and then cash in as long as there is a tenant. You can always sell the property later if you want. Starters might buy a property, life in one of the rooms, and have some of the rooms rented and let the rental payments pay for the mortgage!
Free money baby!
It sounds quite simple but it does get complicated when you start owning several more properties. One or two properties isn’t much of a hassle but when your property portfolio grows, the time management gets more complicated. What do you do for maintenance on each unit? What if a tenant trashes the property? How do you handle damage on the property? When is the best time to hire a property manager? What’s the best way to manage costs?
The Book on Managing Rental Properties is a great complement to the first book of the series. It builds up where it started. I feel like these two books from Brandon Turner are must-reads for any person who wants financial freedom even when they have no plans on getting rental properties.
These two books taught me how to think like a CEO, manage costs, maximize profits and time. It also taught me that not everything goes according to plan and that there will always be risks involved. Manage the risks and you’re good to go. Plus, knowing extra things adds up. Someone else’s experience is a great motivator to teach us.
Is It a Good Read?
The book is written just the way you’ll hear Brandon talking on his podcast on BiggerPockets. It’s like it’s written by a surfer nice dude who happens to be a millionaire with hundreds of rental properties. Brandon doesn’t speak like one of those millionaires who think very highly of himself. He knows that there’s always someone bigger. Brandon writes as if you’re a close friend and he wants you to win. So he shares his knowledge, his experiences, and the problems he encountered. A good friend also shares the solutions for each problem.
Who is this book for?
The Book on Managing Rental Properties is for those who have read the first book “The Book on Rental Properties” (see our book review and summary here). It’s also a book for those who want to begin their journey on rentals or have already a few but is struggling to manage or grow their portfolio.
Buy your own copy here.
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