Geoff here from Buildium. We already wrote a subletting links post last week in response to our To Sublet or Not to Sublet: A Property Manager’s Perspective post. That said, I figured I’d tell you a bit about a book I just finished reading; The New Non-Nonsense Landlord by Richard Jorgensen. The book focuses on the building wealth with rental properties, from the perspective of the individual real estate investor rather than from a property management company’s perspective. Regardless of this fact, I felt that this book was worth sharing — many property management professionals pursue rental properties as a means of building their own nest egg. Jorgensen writes in a direct and succinct manner, offering what I consider to be very practical and straightforward advice on building wealth through rental properties. He emphasizes hard work and efficient fiscal management, continuously downplaying the “get rich quick” schemes that are so prevalent in real estate investing circles.
I think that this book would be a great resource for any beginner investor. The book certainly opened my eyes to the benefits of owning rental property and motivated me to do so on my own. Whether you’re thinking of investing in properties of your own or not, Jorgensen offers several chapters worth of advice that speak directly to any property manager, including chapters on:
Managing Real Estate through a Crisis
Tenants: The Lifeblood of the Real Estate Industry
Establishing a Sound Credit and Collection Policy
Dealing with Tenant Problems, Complaints, and Rents
The text is very inexpensive and is available through amazon.com in both Kindle and print editions. It’s worth a read.Read more on Uncategorized