THE MILLIONAIRE REAL ESTATE LANDLORDS: How to Manage Single-Family Homes, Duplexes, Triplexes, Quads and Larger Multi-Family Properties for Maximum Profits
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This PAPERBACK book is specifically designed for easy study.
Book Details
Format: Paperback
Size: 8.5" x 11"
Pages: 244
Authors: M. Mitch Freeland and John Freeland
Publisher: Las Vegas Book Company
Edition: First Paperback Edition, October 03, 2018
HOW ORDINARY PEOPLE ARE BECOMING
EXTRAORDINARY REAL ESTATE
INVESTORS & LANDLORDS
DISCOVER LANDLORDING IN A WHOLE NEW LIGHT!
“John Freeland is the Prolific Investor”—The Palm Beach Post
Owning
Rental Property Doesn’t Have to be Difficult or Stressful
In The Millionaire Real Estate Landlords, investors M. Mitch Freeland and John Freeland have rewritten the
rules on active real estate investing and landlording.
The Millionaire Real Estate Landlords, covers all the
essentials necessary for you to achieve maximum performance by utilizing a
proactive approach to landlording.If you own rental houses, a duplex, a
triplex, quads or larger multi-family properties, this book will prove that BIG
PROFITS are attainable for you with the right system.
No investor should be without this book. It
clarifies and cuts-through the steps needed to succeed in the lucrative world
of landlording.
You’ll learn the strategies, the techniques of The Millionaire Real Estate Landlords,—and the hard-driving truths that turn dreams into
financial reality with spectacular cash flow.
Here is a sampling of what you will learn in The Millionaire Real Estate Landlords:
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You can start Today!
Scroll to the top of the page and select the “Buy it Now" button.”
CONTENTS
INTRODUCTION
Why this Book?
Why We Are Uniquely Qualified to Write this Book
CHAPTER 1: Becoming a Landlord & Property Manager
Duties of a Highly Engaged Landlord
Office (Home) Duties
Advertising and Marketing Vacant Units
Vacant Unit(s)
With Current Tenants
Common Maintenance
Making Repairs or Replacing Items
When House or Apartment Unit(s) is Vacant
How to Get the Greatest Possible Rent for Your Rental
When You Become the New Landlord
Sample Increase Rent Letter #1
Sample Increase Rent Letter #1 Spanish Version
Sample Increase Rent Letter #2
Sample Rent Increase Letter, Spanish Version #2
Purchasing Tenants
What is an Estoppel Certificate?
Who to Contact
Updating Tenant Files
What do You do With an Onsite Manager?
What about Professional Property Management Companies?
Property Maintenance and Repairs for Single-Family Rentals
Maintenance and Repairs for Multi-Family Properties
Getting and Retaining Good Tenants
Applications and Forms
Sample Rental Application
What to do with Bad Tenants
Rental License
Rent Collection
Letter to Delinquent Tenant in English / Spanish
Collecting More Than 100 Percent Rent
Do Tenants Understand their Obligations?
What is “The Highly Engaged Rental Package?”
Attracting Good Tenants
The Lease
Section 8
How to Get Registered with Section 8 and Other Requirements
Some Things you should Lookout For
Fair Housing
Federal Law Disclosures on Lead-Based Paint
What are you Required to Disclose on Lead-Based Paint?
Asbestos, Mold and Radon Gas Disclosure
HQ and the Home Office
Are you Really a Landlord?
Are all Landlords Rich?
The Benefits of Becoming a Long-term Landlord
High Engagement Action Highlights for Landlording & Property Management
CHAPTER 2: Extra Expenses: Property Taxes, Insurance, and More
Property Taxes
Highest Property Taxed States
Property Insurance
Accounting
General Maintenance
Roofing, Electrical and Plumbing
Are There Other Operating Expenses?
Unexpected and Catastrophic Expenses
Recurring Expense Checklist
Sample Income Statement
High Engagement Action Highlights for Extra Expenses, Property Taxes, Insurance and More
CHAPTER 3: Your Cash Flow
What is Your Cash Flow?
Sample Cash Flow Balance Sheet
The Negative Cash Flow Problem
Example: Rental House where Positive
Cash Flow Works
How Do You Project Your Future Cash Flow?
Cash Flow on Rental House
Increasing Cash Flow
Top 10 Ways to Increase Monthly Cash Flow with Little Hassle
What Expenses can you Reduce or Eliminate
Permanently
Operating Statement From a Single-Family Home Rental
Operating Statement From A 16 Unit Apartment
Cash Flow & Co.: A Super-System For Real Estate Investors
Introductory Discussion on Cash Flow and Cash Flow Analysis on Real Estate Investing
Models
Financial Feasibility
Key Ratios and Calculations You Need to Know to Value Your Investment
High Engagement Action Highlights for Your Cash Flow
CHAPTER 4: Contractors and Labor
General Contractor (GC)
Subcontractors
Handyman
Labor
Doing it Yourself
Negotiating with Contractors
Sample Bid
Who Not to Hire
When to Fire
Characteristics of a Professional Contractor and Handyman
Locating Reliable Contractors
Workers Unite
Loyalty among Labor
Highlights for Contractors and Labor
CHAPTER 5: The Business Side
Choosing your Name
Address and Mail Box
Corporation, LLC or DBA
Holding Property
Bank Account
Equipment and a Few other Things you’ll Need to Be a Professional, Proactive Investor
Tenant’s Welcome Package
The Paperwork
Business Cards
Using the Internet Effectively
Journaling and Keeping Records
High Engagement Highlights for The Business Side
CHAPTER 6: Tax Deferred Exchange and Other Tax Advantages
What is a 1031 Tax Deferred Exchange?
There Are a Few Rules You Must Follow
What does the “Qualified Intermediary” Charge?
What is the Actual Process?
Other Tax Advantages
Make It Your Residence
Capital Gains
Waiting for the New Year
The Retired Class
Real Estate for Your IRA
Benefits of Buying Real Estate in Your IRA
What types of Real Estate Investments Can you Participate In?
Some Requirements of the Plan
Depreciation Deduction
Interest Deduction
Other Deductions
High Engagement Action Highlights for Tax Deferred Exchange and Other Tax Advantages
CHAPTER 7: Real Estate Clubs and Associations, Benefits of Membership and Why Should you Join
Structure and Format of Club Meetings
Procedure: What to Expect
What’s being Presented? What’s being Offered?
What are the Rules?
Getting the Most Out of the Club
Be a Social Animal
Why You Should Join?
Cost of Membership: A Small Price to Pay
Online Investment Websites, Blogs and Clubs
CHAPTER 8: Staying the Course
Your Coming Out Party
Accountability
Building Long-term Value
Focus and a Clear Plan
Establishing Your Goals
A Clear Vision and a Will to Succeed
Who is In Your Organization?
Five Principles to Investor Longevity
Surviving the Dreadfully Ugly
High Engagement Action Highlights for Staying the Course
CHAPTER 9: Winning Principles of a Real Estate Investor
High Engagement Action Highlights for Winning Principles of a Real Estate Investor
APPENDIX I: Applications, Agreements and Forms,
Land Trust Agreement
Assignment of Beneficial Interest in Trust
Certificate Of Resignation Of Trustee
Certificate of Appointment of Successor Trustee
Inspection Checklist for Rental Property
Rental Property Move-In Inspection Checklist with Tenant
Asbestos Disclosure Form
Mold Disclosure Form
Radon Gas Disclosure Form
Three Day Notice to Pay or Quit
Deposit to Reserve Apartment
Lease Agreement
Security Deposit Policy
Disclosure of Information on Lead-Based Paint and Lead-Based Paint Hazards
Payment Policy
Rules and Regulations
Affidavit of Military Status
Notice of Lease Violation
Monthly Rental Voucher
Rental Property Details
Tenant Estoppel Certificate
Tenant Welcome Letter
Pet Rent Agreement
Move-Out Charges
Move-Out Charges (CARGOS DE MUDANZA) (Spanish)
CONTRATO DE ARRENDAMIENTO (Lease Agreement—Spanish)
Late Rent Letter (English and Spanish)
Renters Insurance Letter to Tenant
Rental Application
Notice of Rent Increase English / Spanish
Key Receipt and Key Deposit
Rental Referral Flyer ($50 Referral Bonus)
APPENDIX II: Real Estate Investment and Landlording Terms
What's Next?
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Real Estate Books by M. Mitch Freeland and John Freeland
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ABOUT THE AUTHORS
M. MITCH FREELAND
Mitch Freeland has bought and sold, fixed and flipped hundreds of single-family and multi-family properties and has managed over 100 units as a landlord. He had been called “a modern-day polymath” because of the diversity of subjects that appeal to him and for the subjects he writes about. He is a person of faith, a business person, and a writer. He writes both fiction and nonfiction.
Mitch studied Anthropology at UCLA and 20+ years of business and investing started writing at forty-four. Since then, he has authored over one hundred books. Everything he writes about, he has experienced.
He has been an active investor in numerous young companies and start-ups dealing in all classes of investments for over twenty-five years. He was President and founder of an online bookstore, and current President and founder of a publishing company (Las Vegas Book Company), Managing Director of private Investment Banking companies, and a hands-on operator in his real estate investing and property management companies.
Regarding his nonfiction writing, his goal is to create intuitive, pertinent content that can be incorporated into your personal and work life to help you succeed faster and with less stress. His publishing company, Las Vegas Book Company., publishes over one hundred titles including books on casino gaming, real estate investing, online bookselling and collecting, business developent and personal achievement.
JOHN FREELAND
John Freeland has been a real estate investor for over 15 years and with his brother Mitch has bought and sold, fixed and flipped, and managed hundreds of single family and multifamily properties. Prior to his real estate career he was involved in Investment Banking, Mergers and Acquisitions and stock brokerage for over 14 years. He is currently authoring and co-authoring several books on real estate and other non-fiction with his brother Mitch.
Over the past 29 years he has served in leadership roles as Managing Director, Chairman of the Board, Chief Executive Officer and President of Investment Banking Firms, a Securities Brokerage Firm, a Private Equity Firm, a Real Estate Brokerage Firm, a Real Estate Investment Firm, Property Management Firm, Assisted Living Facilities and other companies and entrepreneurial ventures in various industries including furniture manufacturing and retail, sports manufacturing, circuit board technologies, semiconductor technologies, internet technologies, consumer internet, internet content publishing, online bookstore and recycling, and performance marketing and most recently; Author and Speaker.
He received a BA Degree in 1987 from the University of California Los Angeles in Political Science/International Relations/Business Administration and has obtained and received numerous certificates and awards relating to business, leadership and community involvement
Introduction
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he proactive real estate investor and the proactive landlord is highly engaged—that is, he is active in all facets of the investment process. Because he is highly engaged, the proactive investor transforms a good investment into a great investment. He does this by nurturing the investment along until such time that the investment is sold. By acting and not reacting, an investor can take control of his situations and take full responsibility for the outcome of every stage of the investment process: from utilizing contractors and sub-contractors, to fighting for lower property taxes, and managing tenants for maximum cash flow. The proactive, highly engaged, real estate investor produces higher than average income. He is not a passive investor.
In his 1946 book, Man’s Search for Meaning, Viktor Frankl first coined the term “Proactive” to explain how a person is responsible for oneself and that outside circumstances are not the cause of a particular situation—and that others are also not the cause to one’s successes, failures, crises or the unhappiness in one’s life—everyone has the freedom of choice, even in dire situations. You must have faith in your abilities and faith that your future will be better and brighter all the days to follow.
“Between stimulus and response, there is a space. In that space
is our power to choose our response. In our response
lies our growth and our freedom.”
—Victor Frankl
Frankl, a psychiatrist, first designed his concept of proactivity as a prisoner in German concentration camps during the Second World War. His parents and wife died in the camps. Being proactive was a way of thinking—a way of surviving—and a way of being free. Although, still behind fences and physically controlled by guards, his captors could not control his thoughts—those were his to control. The prisoners whose thoughts were optimistic for better days, while being held captive, survived better from the day-to-day horrors of camp life, and did not suffer as much; mentally they were in control. The ones that gave up had a tendency to suffer more and died. The power is in controlling your thoughts.
Frankl eventually wrote over 30 books on psychology and psychoanalysis and his ideas on proactivity were even discussed in Stephen R. Covey’s best seller, The 7 Habits of Highly Effective People. Covey dedicated “Habit 1” to being “Proactive.”
There is a way of thinking, a way of doing things better, and doing things the proactive way. Proactive investors are in control.
It is said, that real estate is the best investment in the world. We disagree with this statement, and I’m sure anyone who has lost money in real estate would disagree with the statement as well. An investment in any real estate is only as good as the investor behind it. I