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The Absentee Landlord's Survival Guide

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 Welcome to Rentlaw.com's Real Estate investment guide. As a landlord,  real estate investor and publisher, people always ask how we got started in real estate - the answer is Hard Work and Good Luck

Having money behind you always helps. So does the ability to assume the risk of associated with investing. At Rentlaw.com, we advise to be cautious on those get-rich-quick schemes. You can use the motivational elements of these seminars and speeches, but you should:

1. Learn the market(s) you are interested in. I own seven single family homes - all within 1 mile of my home. I know my market. I sell commercial real estate - but I don't own any. Why? I am not comfortable with the market in this area.

2. Understand the money available to you. Do you have home equity money to leverage? Gou have partners or other investors? Do you know your bank rate of interest and your local banker?

3. What are your investment goals? Why are you investing your (or your borrowed money)?

4. Are you hands on? Who will manage your investment(s)? For the smaller landlord, with some skills in basic home repair, you can increase your profits.  Larger properties and commercial properties would require additional support. BUT - you can still be hands on. 

5. If you want to invest in real estate, you should get your Real Estate License in your state. Even if you never intend to use it as a salesperson, you should consider it. You will learn your state rules and regulations and more. Our Guide to Real Estate Schools will point you in this direction.

Know your property. 

Know your tenants.

Know your neighbors. 

Know your money. 

Expect the unexpected.
 
Keep a reserve of money each month for the unexpected.

We got started as a landlord because we could NOT AFFORD to buy a nice house in New Jersey. At the time, it was easier for us to afford an investment home. In this

case a 3 family home. It WAS in need of repair. But with 2 other units producing income- we were able to live in one and rent the other 2. Eventually we would live in each unit, fixing each one as we went - then rented them out for TWICE what they previously did. That was in 1986. We have since continued acquiring and cleaning up older single family homes - in our area. That was then. The current market simply doesn't work. The rent will not cover the costs to carry the home.

There is NO GET RICH scheme. HARD WORK, some luck, some skill, listening to tenants, maintaining the units and reading about the industry. 

We are not absentee landlords - living within 1 mile of our home are our units...and that is about as far away as I would go. You may be able to find a property manager who will do the management for you - but this eats your profits. 

Donald Trump didn't start off broke. He is a successful marketer, shrewd negotiator and is a strong public figure that people associate with.

But you can invest and earn a positive cash flow. 

Most importantly - know your market -the area, current rents, potential and learn. Learn the business - my father always said.."if you would just read..."

COMING SOON, MORE REAL ESTATE INVESTING ARTICLES FROM OUR STAFF AT RENTLAW.COM.  We will be featuring articles on Tax Lien Investing, Investing in Condos, Multi-family (1-4), Multi-family over 5 units and over 100 units.  You can start your FREE education with Rentlaw.com - The National Landlord Tenant Guides.

Begin by Learning  Real Estate Terms on Rentlaw.com (Always Free) 
 - Residential Real Estate Terms
 - Commercial Real Estate Terms
 - Rentlaw.com Guide to Real Estate Schools and Exams
 - Rentlaw.com Real Estate Investment Articles
Here are some suggested Real Estate Investment Books

Investing in Real Estate, 5th Edition

Investing in Real Estate, 5th Edition the Fifth Edition of Investing in Real Estate remains the investor's source for unbeatable advice on winning in the real estate game. Easy to read, examples, with tools and tips for investors, covers such topics as financing, valuation techniques, maximizing cash flow, fixing and flipping properties, foreclosures, and lease options.

Real Estate Investments

Selling Real Estate without Paying Taxes : A Guide to Capital Gains Tax Alternatives . Attorney and real estate broker Richard Williamson explores the various ways to avoid taxes when selling real estate. 
 -  See more in our Real Estate Tax Guide
Rental Houses for the Successful Small Investor A guidebook for the small investor who wants to invest in single family rental houses. 

Rich Dad's Advisors®: The ABC's of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss (Rich Dad's Advisors)

Rich Dad's Advisors®: The ABC's of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss (Rich Dad's Advisors)
How to Invest in Condominiums : The Low-Risk Option for Long-Term Cash Flow
The New No-Nonsense Landlord : Building Wealth With Rental Properties

Real Estate Investments

Investing in Fixer-Uppers : A Complete Guide to Buying Low, Fixing Smart, Adding Value, and Selling (or Renting) High

Real Estate Investments

The Unofficial GuideTM to Real Estate Investing If you are looking for a good overall guide to investing in real estate, this book might be for you. 
Making Money in Commercial Real Estate (2nd Edition) - The second edition expands and adds a great deal to the original work. T
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