A detailed, step-by-step manual focuses on investing in rental properties and becoming a landlord.
Turner (The Book on Managing Rental Properties, 2016, etc.) begins his guide to accumulating wealth through real estate investment with images of relaxing and enjoying incredible success on a beach before he promptly bursts that bubble for readers: “That is not going to happen, at least not anytime soon.” But he also quickly dispels any notion that real estate investments only benefit those who already have plenty of money. Instead, the author encourages readers from the first chapters to think through long-term financial plans in terms of percentages rather than the often staggering costs of homes in expensive areas. Turner explains this idea of “relative pricing” to help anyone apply his methods to all financial situations while also being realistic: “Often certain investments are working in your town, but they are just not working at your financial level.” Along with his own detailed explanations, he includes numerous graphs, tables, and interviews with other successful investors showing different points of view. Turner addresses specific questions, like “five questions to ask before investing in a fixer-upper” and even how to deal with difficult tenants—the solution involves a metaphor featuring his 18-month-old Yorkie. Although he clearly lays out the steps to investing at any level, Turner never shies away from doses of reality. He plainly states: “Rental property investment has a tendency to take over your life.” With this straightforward, but also highly personal tone, he easily invites readers into his own experiences, making even the most technical explanation feel like it comes from a trusted friend. He also finds clever ways to frame more difficult pieces of advice, keeping a very human element prominent through all the business talking points. “Money is by far not the most important thing in life,” he writes, while also delicately encouraging readers to be vigilant of how their social connections might impact their images as businesspeople. This is the kind of friendly but specific advice he weaves into every chapter.
A thorough and accessible introduction to the complex world of real estate investments.