Book Summary

Book Summary: The ABCs of Property Management

Book Summary: The ABCs of Property Management

The ABCs or Property Management by Ken McElroy is part of the Rich Dad, Poor Dad series of books. Like most Rich Dad, Poor Dad books this is heavy in anecdotes and inspiration, but light on practical how-tos or step by step instructions.

Most of the book is an inspirational sales pitch for the property management industry. Towards the end book, McElroy gives practical advice on how to pick the right property manager. If you are already a property manager, this book references many best practices, but does little to tell you how to implement them.

My favorite part of the book was the introduction. It outlines the characteristics and mindset of the best property managers.

Book Summary: First-Time Landlord

Book Summary: First-Time Landlord

Nolo.com’s First Time Landlord is a great resource for new landlords. The book’s subtitle is “Your Guide to Renting Out a Single-Family Home”. The book reads more like a reference manual than a guide. It is full of checklists, worksheets, and bulleted summaries of the information you may need.

Book Summary: The Effective Landlord

Book Summary: The Effective Landlord

Dan Lieberman’s The Effective Landlord is an essential read for any property investor or manager. It contains the basic formula for acquiring low quality properties and turning them into reliable positive cash flow machines.

  • Attractive properties can command higher rents.

  • Higher rents at desirable properties attract higher quality tenants.

  • Higher quality tenants commit fewer damages and move out less often.

  • Fewer damages, move outs, and higher rents generate greater profits.

  • Greater profits allow you to invest more into making properties more attractive.

  • And on and on as your wallet gets fatter and fatter and your tenants become happier and happier.

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