1 of 1 people found the following review helpful
Real Estate A to Z,
This review is from: Fix 'em Up, Rent 'em Out: How to Start Your Own House Fix-Up & Rental Business in Your Spare Time (Paperback)
Are you thinking of buying, selling, or renting property out? Then get this book! Compact, easy to read, and packed with step by step instructions for several phases of making real estate work for you, Terry Sprouse has written all the basics in a way that anyone can understand, and will be especially welcome in steering people through this time of fluctuating and uncertain markets, so that you'll make the most of every dollar you invest or gain as a buyer, seller, or landlord, and the principles will even make sense for you in other forms of business, as I found that some of what is in "Fix Em Up Rent Em Out" could even be applied to my career as a free-lance artist.
I've always been tempted with the idea of buying a "fixer upper," whether to live in myself or rent out (I've done it several times for other people in exchange for cheap rent, never for myself), and Sprouse gives the complete details on what I could expect to find in this adventure. You'll learn a lot from his Tables too, which at a quick glance one can get information on cash flow, interest, appreciation, even the tools to have on hand (it is recommended to learn how to do as many repairs as you can yourself) and much more. There is even one table on page 84-85 on "The 5 Rules on How to Lose Money and Get Your Rental Property Trashed by Your Tenants" that is funny as well as wise counsel.
There's great advice in Chapter 8 on what to look for in a prospective tenant, and how to make out a rental contract that suits your requirements; Chapter 9 is about taxes. Read and memorize! You'll be glad you did. One of the final chapters is on how to make this real estate experience a family affair, and lists some activities young children can do to help and the advantages to having the kids be involved in the process. It is followed by "A Tale of Two Investment Strategies," where you read from start to finish Sprouse's experience with two properties, and the last chapter is "The Big Picture," which explains that "Even When You Lose You Win," with a positive outlook to always grow as we learn (and of course always taking lots of photos and notes on the progress for future reference).
This is one of those rare books you'll find yourself highlighting a lot and marking with added thoughts that apply to your specific situation. It also includes some valuable appendices, from "Useful Websites," to additional reference materials, though this handy real estate book is the ideal place to start, if you've ever thought about buying, selling, or being "Mr. Landlord."