November 1, 2011 in Books and Book Reviews
For those of you that already own rental property, you are certainly aware of the challenges of being a landlord. And if you are contemplating buying your first rental property, this book is a must read before you take another step.
Landlording on Autopilot is an Amazon bestseller written by Mike Butler a fellow Louisvillian. Mike started buying fixer uppers in his spare time while still working his full time job as a detective on the police force. He amassed a portfolio of 75 properties and managed them without any help. Eventually he added a part time office person that initially worked 5 or 6 hours a week.
So how did he do it? In one word “Systems”. For as long as I have known Mike, he has consistently developed systems that would help his business run smoothly.
Chapter one is “A no nonsense plan for getting rich in real estate”. Now if that isn’t a way to begin a book, then I don’t know what is! Landlording on Autopilot is a complete handbook on owning and managing a profitable rental business. Mike is squarely focused on cash flow and the bottom line, while creating an environment where his tenants want to stay in his houses a long time.
Here’s a small sampling of what you will find in this book:
Practical money saving tips and ideas
Screening and finding good tenants
Ways to increase cash flow
Little known tax breaks for your business
Handling bad tenants; how to get rid of bad tenants quickly, safely and cheaply
Ways to create a good tenant experience so they will want to stay
You will also find one of my favorite topics; “Training your tenants”. Folks will almost always be better tenants if they know what is expected of them. This is one of the best books I have found for providing practical ways to grow your real estate business with less work and less hassle.
You can pick up a copy of Mike's book below.