Building your real estate rental portfolio
Who it’s for: Anyone who’s ever considered becoming a landlord.
More specifically: Real estate investors who want to go beyond renting out a basement or a room in their home and want to build a real estate portfolio.
Does it have a design?: Yes. Michael Currie, an east coast landlord and property manager and one of the founders of the Fort Nova Group, offers practical advice on the decision-making process on becoming a landlord. Even better, he helps distinguish between being an accidental (or occasional) landlord, being a real estate investor and being a property manager-cum-landlord.
Why we like it: In a market filled with get-rich-in-real-estate books, mostly from the U.S., it’s great to have the insight of a Canadian landlord. Better still, Currie helps to distinguish between being a landlord and being a property manager—an often-overlooked aspect of real estate investing. Currie also wanted to offer a comprehensive guide to anyone serious about do-it-yourself real estate investment.
Surprising fact: As Currie states: “Real estate is an amazing way to build wealth, but (and it’s a big but) real estate investing is a business.”
Action item: If you haven’t already, sit down and determine what factors of real estate investing you are more adept to and what factors you should hire someone else to attend. Do that, and keep a contingency fund, and your real estate empire won’t crumble.
Key takeaway: “A year’s worth of cash flow can be wiped out with one major problem…[but real estate] is also a long-term wealth builder.”
A book landlords and property managers dreamed would be written.
Whether you own/manage one rental unit or hundreds, this book is a perfect blend of stories and step-by-step instruction. It will have a powerful impact on the way you manage your properties and the people who live in them. (Click here, buy now)
Imagine: more money, less stress and happier tenants, all while doing less work.
- How to deal with tenants that do not pay (click here to get it now)
- Will the tenants drive you crazy?
- What impact will being a landlord/property manager have on your personal relationships?
- Is becoming a landlord/property manager more trouble than it is worth?
- What are tenants’ most common complaints?
- What to ask when you are hiring a property manager
- How to set the right amount of rent
- How to screen potential tenants
- How to identify red flags when screening tenants
- How to evict a tenant
- How to reduce expenses and make more money
- How to deal with bugs/rodents & tenant pets
All packaged in an easy to read entertaining format (Click here, buy now)
Written by Michael P. Currie, a well-known property management writer with decades of experience managing and working with property managers and landlords of various classes of properties and sizes of portfolios.