The rise in foreclosures has increased the demand for rental properties across the nation, and that trend will continue for some time. But aside from that new group of renters (people who have lost their homes) there is another demographic that remains constant. 40% of Americans earn under $35,000/year. Most of these people will be lifelong renters, who search for a decent rental accompanied by an attentive landlord. This segment of the rental market represents tremendous opportunity for smart investors, regardless of fluctuation in the economy.
The Landlord Chronicles is based on Barb Getty’s personal journey. She began her real estate investing career over 15 years ago, at the lowest point in her life, with little money and no background in rehabbing, management or real estate.
Written in a lighthearted, conversational style, this guide walks the reader through every phase of the process: finding target neighborhoods, locating the “diamond in the rough,” financing, rehabbing, attracting and keeping tenants, managing and maintaining the rental, evicting non-payers, accounting and record-keeping, selling/exit strategies, etc. Getty details specific products, tools, tips and techniques to simplify and expedite the process, and shows how start-up costs can be kept to a minimum.
There are hilarious personal stories sprinkled throughout the book, highlighting some of the rookie mistakes she made early on. Although seasoned investors will add to their knowledge base by reading The Landlord Chronicles, the beginner investor will find the book invaluable. It provides the reader with everything he/she needs, including various business forms and resources.
Getty’s career has provided autonomy, freedom and flexibility . . . precious commodities. But in addition, whether you do it part- or full-time, investing in low and middle income rentals can provide steady income and build wealth for the future. Enjoy the book!