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Landlording on AutoPilot, 2nd Edition

Book Description

Simplify Your Landlord Experience with Smart Strategies and Smarter Tools

“Without Landlording on Autopilot, I doubt I would have ever succeeded with rental properties. Mike's book guided my business every step of the way, and I owe a huge debt to Mike for his insights. This book is a MUST-READ for any current or future landlord.”

-Brandon Turner, BiggerPockets.com

 

Landlording on Autopilot is the property investor’s guide to doing it all with less stress and lolhigher profits. As a full-time undercover police detective, author Mike Butler developed his proven, simple system for managing hundreds of rentals on the side; in this book, he shares his methods to help you transition your rentals from a headache into a fun, problem-free source of consistent higher profits and income. Whether you’re looking for your first rental property, or just looking for a better way to manage the ones you have, this book shows you his strategies, mind-set, tools and technologies to make your rental business a boatload easier while giving you a lot more time to do what you want! Mike’s simple methods can be implemented in downtown Manhattan or Anytown, USA, whether you manage high-end penthouses or Section 8 rentals, and you can do it all from your smartphone or tablet—and best of all, most of the technology doesn’t cost a penny.

There comes a time in every landlord’s “landlording” experience when the income doesn’t feel worth the hassle. Don’t give up! Investment property can be a wonderful source of income—with the right approach. Mike Butler’s approach is “autopilot”, and it tips the scales toward more profit, more income, and much less stress.

  • Discover the latest—and mostly free—landlording technologies
  • HUGE Updates on Section 8, rental application processing changes, and more
  • How To deal with the latest rash of federal, state, and local laws attacking landlords
  • Explore market trends and conditions through the eyes of a seasoned real estate investor

If your properties are taking up too much of your life, Landlording on Autopilot is your ultimate guide to reclaiming your time—and your profit.

PLUS… FREE GIFTS from Mike Butler!

  • “159 point Rent Ready Checklist”
  • “Your 18 page ‘Ultimate How To Guide’ to Taking Multi-Purpose Photos and Videos of Your Rentals”
  • 12 Brand New Updated FORMS for Your Rental Business

Table of Contents

  1. COVER
  2. TITLE PAGE
  3. ACKNOWLEDGMENTS
  4. ABOUT THE AUTHOR
  5. INTRODUCTION
    1. How I Owned and Operated 75 Rental Properties While Working My Full-Time Job as an Undercover Police Detective (BEFORE Hiring a 5-Hour-a-Week Office Person)
    2. Low and Behold, My Bid Was Accepted!
    3. This Was Not What I Wanted from Our Real Estate!
    4. What's New in the Second Edition?
    5. LEGAL WARNING!
  6. SECTION I: YOU MUST HAVE THE RIGHT MINDSET FIRST
    1. CHAPTER 1: Why Residential Rental Properties?
      1. Real Estate Investing 101: The Basics
      2. Do It Safely—Keep Your Job!
      3. Rule 1—Etch This in Stone
    2. CHAPTER 2: The Life Cycle of a Tenant from A to Z
      1. Point A
      2. Point Z
      3. A Few Landlording Ground Rules
      4. Do Some Research on Your State's Fair Housing Law
      5. Fair Housing Laws and ADA, Both Federal and Local
      6. ADA—Americans with Disabilities Act
    3. CHAPTER 3: Before You Turn on Your Smartphone
      1. Beginner Basics of Autopilot Landlording
    4. CHAPTER 4: Never, Never Call Yourself a “Landlord”
      1. Stupid Move on My Part
      2. My Tenants Already Know Me as Their “Landlord”!
    5. CHAPTER 5: Are Tenants Your “Customers”?
      1. Why the 1960s TV Show Leave It to Beaver Is Important
      2. Your Rental Application Becomes a “Job Application!”
      3. What about the Holiday Season?
      4. Your Benefit from the Annual Holiday Bash
  7. SECTION II: BEFORE YOU GIVE KEYS TO YOUR NEW RESIDENT
    1. CHAPTER 6: Never Show a Vacant Unit Again!
      1. But Mike, What If They Trash My Rental or Steal Stuff?
      2. How Can I See a Vista Rental Home?
      3. Old School: Submitting the Application Is Your First Critical Step
    2. CHAPTER 7: A Rental Application Is Your Crystal Ball
      1. Your Rental Application Process Is by Far the MOST Important Link in Your Rental Business
      2. Your Rental Application
      3. Here Comes the Big Boom
      4. The Rental Application Form
      5. Why You Can Apply This Very Simple System to Everything You Do in Your Rental Business
    3. CHAPTER 8: Never Disqualifying an Applicant Keeps You Safe
      1. If You NEVER Disqualify an Applicant…You Will Reduce Your Odds of a Discrimination Complaint
    4. CHAPTER 9: Why March 31st Is a Wonderful Day!
    5. CHAPTER 10: Your Digital Cookie-Cutter Move-In Process
      1. Always Remember Your Residents Cause Their Own Problems
    6. CHAPTER 11: Transforming Your Rentals into Tanks and CA$H COW$
      1. Energy Efficiency
      2. Plumbing and HVAC
      3. Floor Coverings
  8. SECTION III: GO 100% DIGITAL AFTER THEY MOVE IN
    1. CHAPTER 12: How to Consistently Get Paid Over 100% of Your Rents Every Month
      1. Failing to Plan Is Planning to Fail
      2. Proven Systems Are Time Savers, Money Makers, and Good CYA Programs
      3. How Do You Treat Your Real Estate Investing…as a Hobby or a Business?
      4. Work SMARTER, Not Harder!
      5. “It Doesn't Cost You Anything to Ask a Question”
      6. Payment Plans and Payment Plan Form
    2. CHAPTER 13: You Really CAN Teach Pigs to Sing
      1. CORRESPONDENCE Is Now 100% Digital
    3. CHAPTER 14: Digital Work Orders and Repair Requests
    4. CHAPTER 15: Removing Bad Apples
      1. The Challenge
      2. Barney Fife: “Nip It in the Bud”
    5. CHAPTER 16: Mike's Move-Out System Makes You Money
      1. Do Not Balk at the Idea of a Referral Fee
  9. SECTION IV: MASTER THESE TO MAXIMIZE YOUR INCOME AND PROFITS
    1. CHAPTER 17: MARKETING Makes It Happen, Not Advertising
      1. Referrals
      2. Business Cards
      3. Website
      4. Other Things to Include in Your Website
      5. Yard Signs
      6. YOUR BIG PICTURE for Marketing
    2. CHAPTER 18: PERSONAL SAFETY Is a MUST in Today's World
      1. Real-World Tragedies
      2. PERSONAL SAFETY IS a MUST in Today's World
      3. LIFE IS TOO SHORT!
    3. CHAPTER 19: Laws, Laws, and More Laws—Oh My!
      1. Security Deposits
      2. What's the METHOD TO THIS MADNESS?
      3. HATS We Wear
      4. The Ultimate ICING on the Cake!
      5. What Can You Do?
      6. School of Hard Knocks
    4. CHAPTER 20: Your New “Pain-in-the-Butt” Business Partner
      1. HUD's Section 8 Program: BEWARE!
    5. CHAPTER 21: Insurance and Environmental Concerns
    6. CHAPTER 22: Biggest Mistakes of Investors
    7. CHAPTER 23: The Hidden TAX BENEFITS
      1. Here Comes My TSUNAMI! (A Good Thing)
      2. So How Does DEPRECIATION Affect Me as an Investor?
      3. What's the Catch with This Depreciation?
      4. EARNED INCOME versus PASSIVE INCOME
      5. In Summary, The Big Picture, The Simple “Cut to the Chase”
    8. CHAPTER 24: What's Best: Houses, Duplexes, Trailers, Apartments, Commercial, or Dirt?
      1. Single-Family Houses
      2. Duplexes and Houses Chopped into Units
      3. MultiFamily—Apartments
      4. Mobile Home Parks
      5. Commercial Property
      6. Dirt
      7. Self-Storage
      8. Marinas, RV Parks, and More
      9. Winner
  10. APPENDIX A: Recommended Resources for Your Business
    1. FREE Investor Trainings for You
    2. FREE Forms from Mike Butler
    3. FREE Stuff from GooglePlay.com
    4. FREE Software for Your Desktop and Laptop
    5. Very Cheap and Awesome MUST-Have Tools
    6. Recommended Products and Services (not free)
  11. APPENDIX B: FORMS and More FORMS
    1. WARNING! You MUST Read the Rules First!
    2. RULE 1
    3. RULE 2
    4. How Do You Ensure Compliance?
    5. Examples of WHY to Make Sure
    6. EXAMPLE 1
    7. EXAMPLE 2
    8. EXAMPLE 3
    9. Download Your Free Forms
  12. INDEX
  13. END USER LICENSE AGREEMENT