Customer Reviews

Secrets of a Millionaire Landlord

5 star:		(7)
4 star:		(3)
3 star:		(5)
2 star:		(3)
1 star:		(1)

 

 

Mr. Shemin offers a few good ideas, but this book lacks the detail of other texts on the subject. Instead, I would recommend the following alternatives:

"Landlording: A Handy Manual for Scrupulous Landlords and Landladies Who Do It Themselves" (9th Ed), by Leigh Robinson.

"Every Landlord's Legal Guide (Book & CD-ROM)" by Marcia Stewart, Janet Portman, Ralph E. Warner

"The Landlord's Troubleshooter" by Robert Irwin

...

This book provides some good food for thought. It encourages the reader to think about landlording in the same light as any other business, and about tenents as customers. It covers many often overlooked areas that can mean the difference between success and failure as a landlord. The information is presented in a direct, easy-to-understand format, without a lot of technical or legal jargon. The author also manages to make the text seem like personal advice from a friend. Examples from his own experience make the book engaging rather than dry.

That said, I recommend that this be only a starting point or adjunct to one's education about renting property. The author's practices in some areas are shady at best, and illegal at worst. Additional testimony to the author's lack of integrity is seen in the way he describes a potential problem and says, 'that's why my company never (or always) does such and such'. Then later in the book he tells a personal story in which his company did exactly the opposite of what he'd previously indicated. Either he fabricates some of his stories, or makes false claims about his policies. In either case, his credibility is suspect. This happens several times throughout the book.

People hate being landlords generally because they have not established proper business policy and proceedures. Robert Shemin's experiences are varied, and he's developed systems, policy and proceedures from thw hardest areas to landlord, and that is low income tenants. He's known for helping honmeless people buy homes. If your just getting started, and you establish the policies and proceedures outlined in this book, you'll avoid a lot of head aches, have happy tenants, and have a good solid business.

I do however think that Robert should right a book entitled "The Adventures of a Millionaire Landlord", this guy has seen and experienced it all, the good, the bad, and the downright ugly.

It's a fun read, not boring, lots of common sense. Robert is not afraid to think outside the box.

I've read many books in this category and I'd put this in the top 5. It has a lot of good practical advice and tips.

He has a great way of dealing with tenants and developing a positive relation.

I do recommend adding this book to your real estate and landlording library.

Easy read .This book takes anyone who wouldn't know about landlording and walks you through the whole process.I am a millionaire and this is where I made my money.It teaches all the truths as well as what to watch for (Robert's rules).And has a strict guideline on how to get the right tentants.
Altough states differ from rental law to rental law and he teaches the novice man this.There are all the contracts in the back of the book which one will need.This alone could save one 500-1500 dollars in lawyer fee contracts.
Mr.Shemin in my opinion is his best book.There are many real estate books that talk about alot of nothing. I been in the business for 18 years I started at 18. And when I do learn something it's usally one to two things. This book taught me many things. I still refer to the book. And I own 300 units.The beauty of this book teaches the person renting one or 500.
The most profound suggestion to me was on how to treat other tentants .This will bring you to the level of the top 5% of landlords in the country; and making the tentants want to stay. Very good tactics and salesmanship.
There is one more thing that he talks about and its a very good idea indeed . The prepaid legal; you'll have to read to find this one out. I highly recommend this book .I haven't found one close to it.And it's current to what is going on now. 1-11-2007

As a landlord with over 500 units under management I found this book to have some very practical and profitable ideas that I have not seen anywhere else. Shemins' tips on screening,lease-optioning, and repair policies are current,innovative and have helped me make more money. Though, this book is not a legal guide ther is some importatnt information about fair housing that many landlords are not aware of. This is a must read book for any landlord with 1 to 10000 properties. There is also some great forms in the book.

The tips given in this book will save you thousands of dollars worth of preventive action and good practices. I cannot over-emphasize how important it is to read this book before diving into the world of self-managed rental property. Not only that but the author also provides sample forms, contracts, etc. Many real-life examples of what can happen if you don't do it the right way. Covers just about everything in a concise and organized manner.

I disagree with the "Don't waste your money" review. This book provides a good base for understanding what Landlording involves. Although it doesn't go into great detail, it does provide good "not so common" common sense practices. Although there are some tactics that I would not use, the author continues to drive home:
1 - Landlording is a business
2 - You have responsibilities and obligations (to the bank and the tenants)
3 - Tennants have responsibilites and obligations (to you and themselves)
4 - Treat your tenants well and with respect

Good primer book.

Although Shemin brings up many good ideas, I found that most of his ideas are way to cheezy for me (or Southern california.) He discusses buying places for $8,000-$20,000 (I wish) and believes that charging more for rent will ultimately get you higher quality tenents. I completely disagree, especially in down markets.

A decent book, overall, but I'd suggest a Nolo book which has more real legal information as well as solid do's and don'ts for a landlord.

Robert Shemin gives you everything you need to know to be the best landlord. Everything from screening your tenants properly to giving them winter weather safetly tips to ensure safety on your property...with everything in between! This book will save you money, frustration, and much heartache! Get this book then USE IT!!