So You Want to Be a Landlord
A Practical, No-Nonsense Guide to Buying, Selling, and Managing Low-Income Rental Property
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If you have ever considered investing in real estate, this no-nonsense approach to low-income investment properties will provide you with much needed advise and experience from an investor. There are no tricks, but there are best practices. With the plethora of investment personalities, get rich quick schemes and no money down approaches, I decided to provide a fresh perspective. Unlike the success touted in these alternative methods, my approach relies less on renovating distressed properties, and more on finding quality properties that require very little work so as to allow for a more rapid return on investment. I am also not advocating the buy and flip method through this book. Although this may have proven lucrative, it involves a higher risk than I am advocating through my process.
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About the Book
It’s no secret that the majority of wealth is tied to real estate. After experiencing success, my wife and I have become somewhat evangelical about real estate. Furthermore, this is a great way to build self-esteem, equity, and retirement for yourself and your family. If you’re interested in a get-rich-quick scheme, put this book back on the shelf and pick up one of the many other books on the topic. I do not have seminars and progressive steps to my approach, at least not yet. What I have done, and my philosophy, is to provide a somewhat simple and realistic approach to property investing. Hopefully, you will see the benefit of property investing and try this on your own. Perhaps the greatest barrier to investing in property is overcoming fear. I am reminded of the Nike slogan from the eighties “Just do it.” Whenever anyone incredulously asks me how I got into real estate, the simple answer is that I simply did.
About the Author
Since the purchase of his first multifamily apartment building in 2001 to present, Michael J. Margolis has successfully demonstrated how to identify, negotiate, purchase, manage, sell, and profit from low-income investment properties. In the course of five short years, Margolis grew his property ownership from four to fifty-two units throughout the Commonwealth of Massachusetts, a gain of better than 200 percent valuation. Recently married, and with the birth of his daughter, the initial idea was to purchase an investment property and use this investment to fund his daughter’s college tuition. Realizing that this was an effective strategy toward not only saving money but building equity and income, Michael continued to convert his investment funds from the stock market to brick-and-mortar investments in the real estate market. Michael was born in Lynn, Massachusetts, and spent his childhood in the adjacent city of Peabody. After attending Allegheny College in Meadville, Pennsylvania, where Michael earned a bachelor of arts, he returned to Massachusetts where he began a career in sales. In 2001, Michael married his wife, Marla. Michael and Marla live in New Hampshire with their two young children.