Rental property is an amazing way to invest. House flipping is about a quick sell and making a bunch of money quickly while rental property is about creating a life time of passive income to replace your job.
This is a list of the best books on rental property.
1. The Book on Rental Property Investing: How to Create Wealth and Passive Income Through Intelligent Buy & Hold Real Estate Investing!
By Brandon Turner
In The Book on Rental Property Investing, real estate investor and co-host of the BiggerPockets Podcast Brandon Turner has one goal in mind: to give you every strategy, tool, tip, and technique needed to become a millionaire rental property investor―while helping you avoid the junk that pulls down so many wannabes!
Written for both new and experienced investors, this book will impart years of experience through the informative and entertaining lessons contained within. You’ll find practical, up-to-date, exciting strategies that investors across the world are using to build wealth and significant cash flow through rental properties.
2. Build a Rental Property Empire: The no-nonsense book on finding deals, financing the right way, and managing wisely.
By Mark Ferguson
This book is not full of theories and made up stories. It contains real-world case studies and information on investing from an investor actively investing in today’s market and is relevant in 2018.
Here are just a few of the topics covered:
- Why rental properties will help you retire faster than other investments
- The risks of investing in rentals
- How to determine what a good rental property is
- How to determine what type of rental to buy
- How to get a great deal on properties
- How to finance rentals, even if you have more than 4 or more than 10
- How to invest in rentals with less cash
- How to repair and maintain properties
- How to manage rentals or find a property manager
3. The Book on Managing Rental Properties: A Proven System for Finding, Screening, and Managing Tenants with Fewer Headaches
By Brandon Turner
It’s a fact that even if you are amazing at finding great rental properties, you’ll lose your shirt if you don’t know how to manage them properly!
It doesn’t mean you have to take 2 am phone calls, evict constantly, or deal with terrible tenants. It can be FUN if you’re doing things the right way.
This is a comprehensive book by Brandon Turner and his wife Heather. I’ve met Brandon several times and he definitely knows what he is doing when it comes to real estate and managing his rental properties. Written with both new and experienced landlords in mind, The Book on Managing Rental Properties takes you on an insider tour of the Turners’ management business, so you can discover exactly how they’ve been able to maximize their profit, minimize their stress, and have a blast doing it!
Inside, you’ll discover:
- The subtle mindset shift that will increase your chance at success 100x!
- Low-cost strategies for attracting the best tenants who won’t rip you off.
- 7 tenant types we’ll NEVER rent to―and that you shouldn’t either!
- 19 provisions that your rental lease should have to protect YOU.
- Practical tips on training your tenant to pay on time and stay long term.
- How to take the pain and stress out of your bookkeeping and taxes.
- And much more!
4. First-Time Landlord: Your Guide to Renting out a Single-Family Home
By Janet Portman
Have you ever heard of the term, the accidental landlord?
Often, people buy a house and then one day they want to move. They realize that they can rent out their old house and make a decent amount of cash, as well as pocket the appreciation as the market rises.
Do you own a house you’d like to rent out rather than sell? It’s fairly common in the market today, especially involving inheritance, if you are moving to a new house, or are buying an investment property. And it may mean you’re about to be a first-time landlord. Follow the advice in this book to ease into your new role and earn substantial profits while avoiding costly mistakes.
- Learn your legal obligations.
- Estimate costs and profits.
- Choose good tenants and avoid problem ones.
- Make the most of valuable tax deductions.
- Handle repairs and property management tasks.
The 4th edition is updated to cover the latest laws and practices affecting first-time landlords of single-family homes.
Includes samples of forms every new landlord needs, including a rental application and budget worksheet.
5. How to Quit Your Job with Rental Properties: A Step-by-Step Guide to UNLOCKING Passive Income by Investing in Real Estate
By Dustin Heiner
The problem that affects almost everyone today is being stuck in a career they hate. People are conditioned to work their lives away for someone else and only get paid for the hour they work.
How to Quit Your Job with Rental Properties is written by Dustin Heiner, an active real estate investor who has created enough passive income to quit his job.
This book contains step-by-step training to help you grow and acquire more rental properties which will ultimately allow you to quit your job when you are financially independent. The goal is to never have to work again! Designed for the newbie or seasoned pro, anyone will learn how they can earn passive income from rental properties and quit their job.
6. Every Landlord’s Tax Deduction Guide Kindle Edition
By Stephen Fishman
Rental real estate provides more tax benefits than almost any other investment. Whether you own a ten-unit rental apartment building or rent a room in your home through Airbnb, you need to know about all the valuable deductions you are entitled to take as a landlord. Every Landlord’s Tax Deduction Guide is the only book that focuses exclusively on IRS rules and deductions for landlords.
With this book, you will learn about:
- depreciation, casualty and theft losses, start-up expenses, and other common landlord deductions
- IRS rules on deducting repairs and improvements
- vacation home tax rules, and
- proper record keeping and accounting, and much more.
The book also covers landlord tax classifications, reporting rental income, hiring workers, and deducting rental losses.
Filled with practical advice and real-world examples, Every Landlord’s Tax Deduction Guide will save you money by making sure you owe less to the IRS at tax time.
This edition is updated and revised to cover tax rules for Airbnb-type rentals.
7. Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties
By David Greene
Are you interested in real estate investing but there is nothing to buy that makes sense where you live? Are you tired of seeing the amazing success of others investing in markets better suited for buy and hold real estate and wish that could be you? Do you want to take advantage of wealth building opportunities but are frustrated by the fact there just isn’t any way to do that until the next market crash?
Real estate investing is one of the greatest vehicles to build wealth, but it doesn’t make sense in every market. Some locations provide incredible returns, while others make it almost impossible to find a single property that profits. Traditionally, investing out of state has been considered risky and unwise. But the rules, technology, and markets have changed: No longer are you forced to invest only in your backyard!
In his book, real estate investor and police officer David Greene shows you exactly how he’s built a multi-million dollar portfolio on blue-collar wages buying out of state rental property without ever even seeing it. David shares every tip, trick, and system he has put in place while buying and rehabbing over twenty rental properties so you can avoid making mistakes and shorten your learning curve immensely! Learn how to surround yourself with top-notch, specialized, trustworthy talent that can work for you so you never touch a toilet or a paintbrush.
Why Rental Property?
The wealthy diversify their streams of income. They invest in stocks, bonds, real estate, technology, etc.
Rental property is one of the most lucrative investments. In fact, a huge percent of millionaires invest heavily in real estate.
They aren’t doing this by flipping property, their time is way too valuable for that. Instead, they are buying rental property.
There are 5 key reasons to invest in rental property:
- Income from rent
- Depreciation on taxes
- Equity paydown by tenants
- Appreciation by increasing rents and property improvements
- Leveraged with a low interest rate and stable loan