Rich Dad's Advisors: The ABC's of Property Management: What You Need to Know to Maximize Your Money Now (Paperback)

~ (Author)

Editorial Reviews

Review

"In this evenhanded, informative, and practical primer on managing rental property, McElroy covers everything from setting reasonable rent to determining true costs vs. true earings. Dave Mallow who's read several other titles in this series, delivers another solid performace..." (Library Journal ) --This text refers to the Audio CD edition.

Product Description

So you've made your real estate investment, now the question is: How are you going to make it successful? Maximize its potential? MMake it grow? One word: management. Hundreds of thousands know bestselling author Ken McElroy as a real estate investment tycoon. in his new book, he reveals the key to his success, exceptional property management, and teaches you its most important principles, showing you how to fundamentally succed where others fail.

THE ABC'S OF PROPERTY MANAGEMENT tells readers:

• How to decide when to manage your property and when to hire someone to do it
• How to implement the right systems and structures for your investment
• How to manage and maximize cash flow
• What to expect: a month in the life of an owner-manager
• How to find the right property manager (and avoid the wrong ones)
• How to assemble a superior management team.
  

See all Editorial Reviews

Product Details

• Paperback: 176 pages
• Publisher: Business Plus (September 12, 2008)
• Language: English
• ISBN-10: 0446538310
• ISBN-13: 978-0446538312
• Product Dimensions: 8.8 x 5.7 x 0.6 inches
• Shipping Weight: 8 ounces (View shipping rates and policies)
• Average Customer Review: 4.2 out of 5 stars  See all reviews (4 customer reviews)
• Amazon.com Sales Rank: #93,663 in Books (See Bestsellers in Books)

  Popular in these categories: (What's this?)

  #60 in	Books > Business & Investing > Investing > Investments
  #84 in	Books > Business & Investing > Business Life > Ethics

Customer Reviews

Most Helpful Customer Reviews

7 of 7 people found the following review helpful:

4.0 out of 5 stars Another solid read by Ken MeElroy, May 26, 2009

By	Brian Borawski (Waterford, MI United States) - See all my reviews (REAL NAME)

[...]

Ken McElroy should be a familiar name if you've kept up with the Rich Dad Advisor's series of books. The The ABC's of Property Management is McElroy's third book about real estate investing but this one is somewhat unique because it tackles a topic that hasn't been covered much in any other real estate book and that's property management.

The book is split into three sections. In addition, you get the usual foreward by Robert Kiyosaki himself. One of the more humorous sections of the book is the introduction because it details an account of what can happen when properties go bad.

Section one deals with whether you should hire a property manager or manage the property yourself and this chapter is over half of the book. One underlying premise of the section is that if you've never managed a property, it's a lot tougher,and more importantly, much more time consuming then most people think. The final chapter of this section has a ton of good information and it details a month in the life of a property manager. Things will go wrong folks and if you're not prepared to deal with the problems yourself, then it's probably going to be money out of your pocket.

Section two discusses how to find a good property manager. You get to read about the types of management companies as well as some of the things you'll want to look for, at least system wise, when looking at a property manager.

Section three is the shortest section and it discusses how to hire a good property manager. Here, McElroy takes you through a three tiered system of evaluating a property manager.

Overall, it's a solid read but there's two knocks. The first is that it's geared more towards bigger properties. The "month in the life of a property manager" deals with an eight unit complex and some of the examples consist of big, multi-unit properties. While this isn't neccesarily a bad thing, there's only some information on single family homes so buyer beware. The other knock is, for $17, you're basically getting a 120 page book. There's some sample forms in the back that add about 20 more pages but it's not really meaty. I'd give it a "B" rating, so it's basically something worth picking up if you're really interested in the subject, but not a book I'd consider mandatory reading.

3 of 3 people found the following review helpful:

5.0 out of 5 stars Amazed that people are not very interested in property management, August 17, 2009

By	Mariusz Skonieczny "Author" (ClassicValueInvestors.blogspot.com) - See all my reviews (REAL NAME)

McElroy wrote two other books, but they deal mainly with real estate investing. I am amazed that this book is far less popular than the other two. Property management is the key to real estate success. It's not just about finding a good deal, doing the due diligence, and closing the transaction. If people are not interested in learning how to manage a property or at least learning how to find a good property management firm, then they should not be buying real estate, because real estate requires work. It is not a mutual fund or stock. When you buy a small apartment building or a single family home to rent, you are in the business of real estate, which means you sell rental space, and if you don't provide any customer service to your clients/tenants, you are unlikely to be successful. I found this book to be really good. It covers topics such as how to manage and maximize cash flow, how to find the right property manager, and how to decide if you should manage your property yourself.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market

3 of 4 people found the following review helpful:

4.0 out of 5 stars Another great Rich Dad Advisors book!, October 6, 2008

By	Anne Keenan (Burlington, VT United States) - See all my reviews (REAL NAME)

I knew alot of what was in this book because I have been a landlord for years, but I still found it helpful. If I were just beginning I would love to have read this book. It would have been so helpful.