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Landlording on Auto-Pilot: A Simple, No-Brainer System for Higher Profits and Fewer Headaches Paperback – July 28, 2006
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From the Back Cover
For many investors, landlording is a pain, but not for those who use Mike Butler's Landlording on Autopilot system. It's a simple, proven method for managing rental properties in your spare time—without the headaches. Mike Butler developed this system while he worked full time as a police officer. Before long, he was buying and managing dozens of properties—and consistently bringing in more than 100% of his rents.
Includes free customizable, downloadable forms!
Butler shares all the vital techniques of autopilot landlording:
- Screening and finding great tenants you can trust
- Training tenants to do your landlording work for you
- Increasing your cash flow with a simple push-button management system
- Using little-known tax breaks available to full-time or part-time landlords
- Easily complying with landlording regulations and legal stuff you might not think of
- Identifying the most profitable types of properties
- Marketing and advertising your properties at little or no cost
- Utilizing powerful, ready-to-use landlording forms
- Getting rid of bad tenants quickly, safely, and cheaply when buying properties
- Using creative tactics to consistently bring in more than 100% of the rent
Once you've learned Mike Butler's system, you'll make more money in less time with less effort. Today, Mike Butler is retired from the police force and enjoys more than $1 million a year from his rental properties. Using the techniques and strategies of Landlording on Autopilot will help you achieve your dreams.
About the Author
Top Customer Reviews
All in all the book was a good value. I feel however that the Free Forms was a bait and switch and it will prevent me form purchasing any items from Mike Butler in the future. I did email his company form the contact form on the website. All that got me was a barage of spam email from them on seminars, software etc.... I am hoping that I will get somewhere with them and then I can update this review.
What's as good is the fact that after reading the book you are given websites where you can download free forms - which I must say has saved us HOURS.
If you are just beginning in the rental property business or have not seemed to have much luck - I say this a MUST-READ!!!!
1/2/09 - We were one of the first to purchase this book - and the first to post a review. At the time, the forms, although kind of tricky to download, were free. However, it does seem like Mike is trying to make money from webinars, seminars, etc...and it doesn't surprise me he is now charging for the forms. That was one of the main reasons I gave the book 5 stars - the free forms made it worth everything. I didn't want anyone to think I had misled them initially.
What's more, is it's all to get you to his website so he can sell you everything under the sun from web seminars to packets of his forms and they are all very pricey.
It seems to me that all he cares about is getting huge amounts of money.
It's not unlike a high pressure infomercial.
For me, I won't be buying anything from him again.
First, the author is adament that single-family houses are by far the best investment when compared to apartments, mobile homes, commercial, and land. As a finance major I had a difficult time getting through this chapter since some very important factors were completely left out of his analysis. First, the author assumes that the investor owns his/her property outright. Financially speaking, it makes absolutely no sense at all to own real estate outright, even if the investor had that kind of money. Secondly, by assuming the properties are owned outright we can't see the effects of mortgages or how many properties could have been bought by leveraging. Third, he assumes that rental properties appreciate at an average of 7% annually without citing his source. Considering that the copyrite on this book is 2006 I think we can safely assume that, at best, we're operating on assumptions that are clearly no longer remotely accurate. I'm a numbers guy and I want to see the calculations. By giving me generic, incomplete calculations I have useless data. I get that though--many readers of this book will not, and I think the author is banking on that fact.
There are plenty of other cringe-worthy nuggets in this book. In one chapter the author loudly proclaims that your renters are not your customers. "Would you make your customers fill out an application?" the author asks. After then acknowledging that many customers do fill out applications he asserts that tenants are more like employees. He then subverts himself by saying that he doesn't know much about leadership but that a good landlord is like a good boss. Completely ridiculous. Probably just something to make the book a little bigger.
Let's consider the author's insulting flip chart that he recommends showing new tenants. He calls this "training" the tenants which subjects his lucky new "employees" to an hour of being talked down to. I would NEVER do this to a tenant and would expect them to promptly abuse my property at every opportunity.
What else? Oh, apparently it's a good idea to put stick-down vinyl tile throughout the house. This makes it easier to fix damaged tiles "not if, but when they occur". This is also a fantastic wa
y to make one's property look like a slum run by a callous money hungry landlord.
These, and many other gold nuggets, are sprinkled throughout the book. There are some good bits of advice but nothing that goes much further than common sense. By the way, don't ever give a prospective tenant keys to your unit! Don't be surprised if they just move in on the spot and then you get to go through the eviction process.
Overall, I am very disappointed with this book. Good luck all!