By Landlord and Author
Steven A. Boorstein
| “Just wanted to let you know that I found your book on lulu.com and purchased it… I finished reading it about 2-days ago, and I have to tell you the information I absorbed is invaluable. I developed an Excel Spreadsheet using the “All-Nighter” formula. Now, whenever I see a property I am interested in… within 5 minutes I can tell if I will break-even or have positive cash-flow out of a rental… I now have the tools to eliminate buying on emotion, precise methods of researching an area’s demographics and a formula proving if the rental is profitable or not. Great book! Now I have to put your methods into action..” -Scott L. |
IMAGINE looking over the shoulder of a successful, experienced real estate investor and professional landlord as he taught you everything you needed to know about how to REALLY buy rental properties! What would it be worth to have a real estate mentor and coach who would give you honest, practical and straight answers… without the “hype”! Someone who could help you buy properties smarter and realize your dreams faster!
Wouldn’t that be AMAZING? YOU BET IT WOULD!
Better yet, what if you could get information you needed to help buy your first rental property in a powerful, “step-by-step” book? One that cuts right to the point and shows you what you REALLY need to know… all at a fraction of the cost and inconvenience of hiring a “live” personal mentor.
| “I recently purchased this book and read it from cover to cover the first day because I couldn’t put it down.” -Brian M. |
How To Buy Your First Rental Property and Beyond
“A book that provides you the blueprints to building your own business as a rental property owner!” If you’re like me when I first became interested in the power of owning rental properties, you are probably confused by, and a bit skeptical about, the hundreds of real estate books and “programs” out there. Many of them seem to promote “quick” real estate riches. Don’t believe it. In my humble opinion, real estate is NOT a get rich quick business, although it can be a get rich QUICKER business. It takes work to buy, manage and profit from rental properties. That doesn’t mean it takes too much time or too much work or that it can’t be fun or enjoyable! If you have never bought a rental property, the last thing you want is a “sales pitch” about how you can quit your day job tomorrow and be a real estate mogul. It just doesn’t happen overnight, but it CAN happen EVENTUALLY if you want to grow your rental property business to that level!
If you have been considering purchasing and managing your own rental properties, maybe you can identify with some of the questions I had when I first started to research this business:
It doesn’t always take a lot your own money to buy properties, but HOW DO YOU BUY A PROPERTY WITHOUT A LOT OF YOUR OWN MONEY? You don’t need a college education (in fact, I know of a few investors who own millions of dollars in real estate rentals and never even made it to high school!), but HOW DO YOU LEARN WHAT YOU NEED TO KNOW? Owning a rental property business takes time, but HOW MUCH TIME?
The problem was, that I didn’t have much money to put down on a property, I had little knowledge of how to do it right and couldn’t afford to make a big mistake.
One day I was at my desk, writing checks to pay the monthly bills and I had a grim realization. First, my income was not doing much more than paying the bills (and some months not even that). Second, I was tired of working full-time for other people and I desperately wanted to own my own business. Third, at the rate I was going, there was no way that I could afford to put my three kids through college or provide my family with the things in life that they deserved. I love my wife and kids, and the lack of money was causing me to really start to hate the financial situation that I had gotten myself into! I had to do something in a relatively short time. Something that I could build into a sustainable business.
I thought about family, friends and acquaintances who had been financially successful in life. How did they make their money? What businesses did they own? How were they able to get ahead? My conclusion was the same one I had come to many times before, but never made a commitment to act on:
| Many of the successful people I knew owned rental properties! |
So, I started asking questions, and interviewing people who I thought were successful rental property owners and landlords. And…fortunately, the more and more I found out about the rental property business, the more and more I LIKED IT. It seemed like a flexible business that could grow as big (or small) as I needed it. In fact, I could control the income that I made and the wealth that I could accumulate more than in my current job as an “employee.” Not to sound too silly, but I could buy just one property or I could try to become like a “$Trump$” of small, residential investment properties. A “mini” REAL ESTATE TYCOON, if you will!
Unfortunately, not all of the information that I got was practical, usable or even true. I had to sort through a lot of “bull” to get to the truth of how to really find and acquire properties and build potentially build an enormous cash flow and net worth!
The problems that I had in learning the ropes were that most landlords aren’t really willing to teach you the right (or complete) way to do things… In fact, they tend to fall into one of two groups.
There are those who will tell you the “big fish” stories of the “great deals” that they did, yet can never show you how you could do this yourself (or in fact, how they actually did these “killer deals” themselves)! You have to be careful when talking to these guys because they aren’t looking out for your success, they are just looking for admiration.
Other landlords may tell you how terrible and difficult it is to own rental properties. They will very often try to discourage you… yet they own a lot of properties themselves and always seem to have the money they need to do the things they want. I have found that these people either don’t run their business well or try discourage you because they don’t want competition (or maybe they just don’t want to see other people succeed to a greater level than they have achieved).
I did have one advantage to learning about how things REALLY WORKED… AND FORTUNATELY, IT WAS A BIG ONE. I had access to the knowledge and counsel of a few professional rental property owners whom I felt were the actual “mini” real estate moguls that I wanted to be like! My grandfather had owned over a dozen rental units, I had another member in the family who owned over 50 rental units, and I knew another entrepreneur who co-owned about 150 units. These professional landlords, combined with my ability to speak with and learn from several other rental property owners who owned anywhere from one to about seven properties helped me to gain their knowledge and reproduce what they did RIGHT in LESS TIME and with LESS EFFORT!
Fortunately, after many conversations, they each eventually shared with me their own practical, “common sense” methods of buying rental properties and landlording. The more I learned, the more I was able to sift out the “hype” from the truth. I used many of the methods that these investors taught me and eventually honed them into a unique “step-by-step” plan that I used to buy my own rental properties, then helped friends, and finally helped many others. I then took these years of practical knowledge and distilled them into a book, more like a “practical guide”, to show others how to reproduce, “step by step” how to purchase their own rental properties!
I don’t want you to make the same mistakes that I have seen many other “inexperienced” real estate investors make. Think twice before buying any expensive “courses” that make their real estate promoters a ton of money, but deliver little value to you, the investor.
There is no “secret” to building a solid portfolio of rental properties, yet very few people actually learn how to be truly successful at buying and owning them because the never learn THE RIGHT METHODS AND TECHNIQUES TO SUCCEED FROM THE START! Maybe they think it’s not that hard (it’s NOT that hard IF YOU HAVE THE RIGHT KNOWLEDGE AND RESOURCES). Maybe they figure they will just listen to the advice of their real estate agent (PLEASE…PLEASE…don’t every rely solely on the advice of others, especially those who may make an enormous commission off of selling you something. YOU MUST POSSESS enough knowledge make an informed decision about YOUR BUSINESS FOR YOURSELF!)
REMEMBER THIS… an informed rental property owner stands to profit in many ways from the mistakes of other real estate investors who didn’t take the time to be “smart” and learn what they needed to know.
You see, owning rental property is a business. It would be foolish to start ANY business without first learning the basics of how to build that business and also the methods and techniques that you need to succeed. My advice to you is that you need to learn the basics, methods and techniques somewhere, BEFORE YOU BUY YOUR FIRST PROPERTY.
If for not other reasons, than at least consider this:
- You cannot afford to make a big, costly mistake when first starting out in the rental property business.
- Unfortunately, it’s not always prudent to rely on your local fellow landlords to help you succeed.
- Just as bad, most real estate agents don’t understand what YOU need in order to build a successful rental property business.
So, do you REALLY want to learn a surefire way to buy rental properties? If you have read this far, I hope you are now saying “of course!” (or at least nodding your head up and down just a little!)
| It has been proven that one of the best ways to learn and achieve success in a fraction of the time is by learning how to reproduce the successful methods of others. If you are looking to learn what it took years of trial and error for other successful rental property owners to learn about the SMART way to buy properties, then… |
How to Buy Your First Rental Property and Beyond is for you!
| “I have just read through your book, which lays out a comprehensive plan and is easy to follow. In my business I correspond with hundreds of property investors. I highly recommend your book to both people in the field and to those thinking of entering it.” -Paul Tudor, founder of PT Software Solutions, Inc. |
BUY or Preview the eEdition (available to Download NOW)!
ONLY $15.95 at Lulu
Rental properties can build a growing stream of income and significant wealth…if done right! How to Buy Your First Rental Property and Beyond will show you how to:
- Run a successful rental property business on your terms and
reach your goals and dreams…faster! - Find the best properties, at the best price and
work with real estate agents the smart way! - Easily evaluate properties.
Find the ones that can make you money, not take your money! - Find the right financing!
- Negotiate offers to get what you want!
to successfully buy your first rental property
AND a simple, “common sense” approach
to help you “do it right the first time!”
ONLY $15.95 at Lulu
P.S.
One of my personal goals is to help “wanna be” landlords (and landladies) succeed in buying and managing their own rental properties, and hopefully achieve a better life for themselves and their families through this process. After you purchase a rental property, now you have to manage it. I encourage you to also visit (and bookmark) our ManageRentalProperty.com website to help you continue finding valuable information and tools that can help you succeed in creating a great business and wonderful life!
P.S.S.
I welcome your email questions, comments, suggestions and success stories!
Best of luck in your pursuits!
© 2011 NomadRx L.L.C.
© 2004-2005-2006-2007-2008-2009-2010 Steven A. Boorstein
This is a informative site. I have enjoyed it quite a bit. Visit us if you want to know more about real estate or issues related to appraising real estate.
first rental does not always materially impact the end result, specially when properly analyzed. Great information. Great job landlord.