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The New No-Nonsense Landlord, Revised and Expanded Paperback – June 25, 2003

3.0 out of 5 stars 11 customer reviews

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Editorial Reviews

Review

"The knowledge shared in this book is priceless because it works. Highly recommended." -Robert Bruss, Nationally Syndicated Real Estate Columnist

From the Back Cover

The practical path to real estate riches

Want to make money in real estate? Forget the glitzy "overnight-millionaire" claims and get down to business. The New No-Nonsense Landlord gives you the practical, nuts-and-bolts information you need to build real wealth over time by operating a successful property rental business. Whether you're already a landlord or would like to become one, you'll find proven solutions to every challenge the real world can throw at you.

Long-time real estate investor Richard Jorgensen shows you how to find and keep the most desirable tenants, make low-cost repairs that last, take maximum advantage of tax laws, and much more. He explains why your success depends on you, not on the properties you own and helps you avoid the many pitfalls of real estate investing. Through real-world case studies and scores of practical examples, you'll find out how to:

  • Select, finance, and purchase your first property
  • Make big money from small properties
  • Deal with government regulations
  • Manage the tenant-landlord relationship
  • Write a no-nonsense lease
  • Implement rent increases, evictions, and other unpleasant necessities
  • Develop a money-making strategy for your properties
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Product Details

  • Series: Revised and Expanded Edition
  • Paperback: 275 pages
  • Publisher: McGraw-Hill; 2 edition (June 25, 2003)
  • Language: English
  • ISBN-10: 0071417931
  • ISBN-13: 978-0071417938
  • Product Dimensions: 7.2 x 0.9 x 9.1 inches
  • Shipping Weight: 1.2 pounds
  • Average Customer Review: 3.0 out of 5 stars  See all reviews (11 customer reviews)
  • Amazon Best Sellers Rank: #3,268,548 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

Format: Paperback
This book was written in 1994 and may be viewed by some as being dated. The author is a small real estate investor and tells of projects that he personally has been involved in as well as the project of other people he knows. The stories are real and there are before and after photos in the book, which is quite uncommon for a book of this type. There is a chapter on "Success Stories" that I particularily enjoyed. There's a chapter of the "Fixer-Upper" which was also good. Many of the other chapters about tenants and management were covered in other books with mcuh more depth. "Landlording" by Leigh Robinson is an excellent book on the tenant and management side of the business and is much more comprehensive than this book. This is a good book, but not a great book. I appreciate the author's experience in rental properties and I liked to see the photos which help tell the story and make the examples very real. This book does not have all the answers and if you expect that you will be disappointed.
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Format: Paperback
I felt the Author spent too many pages on telling stories of things he had heard that others had done in this business. Very few things seem to be from the personal experience of the author. I came to the conclusion by the time I had gotten bored with the book that the author wrote it to "build wealth with royalties" instead of rental properties. It has a few good ideas and points but seriously lacked any connection with the next topic or idea.
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Format: Paperback
Not much substance here. It's a 75,000 foot book. After reading it, there is no way you could even contemplate running a business with the tools it gives you.
Contrast this to the Nolo Press book on being a land lord. That's a 10,000 foot book. The Nolo book talks about real issues (ex. asbestos, lead paint, etc...) It gives you a CD ROM with all the government mandated forms. What's more, it gives them to you in Spanish, too. The Nolo book goes into detail about you, your rights and responsibilities... more like liabilities... of having undesirable tenents (ie. drug dealers). I haven't found another book out there that drills down into issues that can get you sued if you don't follow them. This book doesn't touch any of that. It's like it doesn't exist.
The Milin book makes this one look good. The Milin's is definitely dated. Suprised they just don't mention bearer treasury bonds as a method of financing... These folks are once removed slum lords. They have an interesting theory: 3 bedroom, 2 bath houses. As far as liquidity, that's as good as you can get. But their methods of management would land you in real hot water. For example, Sam the tenent has agreed to cut the grass as part of the rental agreement that the Milin's insist on. Sam is blue collar and has a small amount of insurance. Well, Sam leaves the grass clippings around. Billy slips on them while he's walking by. Per the law as pointed out in Nolo, the landlord will probably be sued. Why? Cause Sam among other things is the poor guy. And the rest of that book is filled with such non-sense. Some of the more pretentious statements are how they suggest you can represent yourself, "The English Aristocrat" or the guy who's just too cheap/dumb to even get a DBA much less a Sub Class S corporation.
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Format: Paperback
THIS IS AN EXCELLENT BOOK FOR THE DO-IT-YOURSELFER. IT WAS WRITTEN BY SOMEONE WHO HAS BEEN IN THE BUSINESS FOR MANY,MANY YEARS. HE HAS STRONG RECOMENDATIONS ON YOU TAKING CHARGE. HE BELEAVES IN RENTING GOOD CLEAN UNITS AND GIVING GOOD SERVICE. THIS IS SOMETHING THAT MANY OVERLOOK. TALKS ALOT ABOUT DEALING WITH TENANTS. HE TELLS OF A LOT OF LITTLE TIDBITS IN MANAGEING HIS PROPERTY. EXPLAINS IN LENGTH CONTRACT FOR DEEDS. HE TAKES YOU THRU THE BEGINING OF INVESTING TO CASHING OUT. COMPARES RENTALS TO 401K's AND MANAGEING YOUR MONEY. HE IS THE FIRST AUTHOR TO TALK ABOUT YOUR WELL BEING AS A LANDLORD AND GIVES ALOT OF ADVICE TO HELP COPE IN THE BAD TIMES AND TELLS OF KEEPING A GOOD MENTAL ATTITUDE. EVEN THOUGH IT WAS WRITTEN IN THE EARLY 90's THIS BY FAR IS ONE OF THE BETTER REAL ESTATE INVESTMENT BOOKS THAT I HAVE READ.
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Format: Paperback
This is a starter book for first-time investors. (...) I think the book deserves a
read through, especially for first time investors who are hesistant to take a risk on real estate. He addresses the mindset behind investing, and why everyone should be involved, not just "geniuses and rich people".He spends a fair amount of time encouraging and explaining real estate investing to would be investors. So give at a try. This might be a good book to pick up used, along with a few others.
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Format: Paperback
This book is for those individuals who are flirting with the idea of buying rentals. The first 100 pages were purely motivational: Stories of people who have done well with rentals and the repetetive "I've done it, and you can do it too!" mantra that you get in cheap infomercials. The rest of the book provides little useful information about buying and managing rental units. I read the entire book in an afternoon. It amazed me how little information could be packed into 306 pages (though large print and many pictures of properties did help).
Don't regard this review as mean spirited: there are many very good books on investing in residential real estate, but this one is not worth the money.
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