The ABC's of Property Management: What You Need to Know to Maximize Your Money Now

by Ken McElroy

Book Overview

Ken McElroy is a property tycoon and sound property management is the cornerstone of his success. The book includes information on: when to manage your own property and when to hire someone else to do it; how to implement the right systems and structures to make it work; and how to manage cashflow.

• Format: Paperback
• Language: English
• ISBN: 0446538310
• ISBN13: 9780446538312
• Release Date: September 2008
• Publisher: Business Plus
• Length: 118 Pages
• Weight: 0.53 lbs.
• Dimensions: 0.5" x 5.9" x 8.9"

Customer Reviews

Amazed that people are not very interested in property management

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

Another solid read by Ken MeElroy

[...] 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.

decent

It was an easy read, which allowed me to stay interested in it. However it wasnt very full of information, more stories than anything.

Another great Rich Dad Advisors book!

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.