Reader comments on How To Manage Residential Property for Maximum Cash Flow and Resale Value, 7th edition
Hi John,
I re-read your "Best Practices for the Intelligent Real Estate Investor" while working in Bangladesh and then visiting Beijing, China. I originally read it in 2009, I think. It's funny; in instances when I didn't follow your advice, I later wished I did! Even though world events are occurring quickly, the principles in your book apply today as they did in 12/08 when you wrote it. As always, I appreciate your wit, your direct and no-nonsense writing style and your use of logic, science, math and ethics. Thanks again for writing your books; I've also read "...Hyperinflation and Depression" and "How to Manage Residential Real Estate..." I've allowed trusted friends and family to also read them, as they have guided many of us in our investment activities. The advice from your books helped me successfully navigate through a rough couple of years as a landlord. So thanks again!
From Beijing, China
Thanks again for what you do, John. Thanks for helping me to see deeper.
Regards, Bryan Rush
I bought this updated version for my manager who was using an older version. I found it so comprehensive and practical that I'm ordering this one for myself.
I must have read your book on apt house investing in 1995 & it changed my life for the better.
Thanks for all you do!
Thom Garlock
I have been completely satisfied by all the books I've ordered previously from John Reed and am looking forward eagerly to reading his latest on protecting oneself from the coming financial crisis.
I first encountered your books about 15 years ago when we first got started buying rental real estate. Yours has been amongst the finest advice we've received. Your words ring in my ears to this day and I'm looking forward to reading more. THANKS!!!
John, I have been a fan since the first edition of "How to Manage Residential Property..." and your Guru ratings are a huge benefit. Thanks for your contribution to the industry.
I have actually purchased about 5 copies of this over the years, and I give them away to friends and clients. It is the best real estate book I have ever read!
And not that it makes me a better critic, but I am a real estate lawyer and investor. I have probably read more than a hundred books on the topic. I can always learn something from a book, but often have to wade through quite a bit of trash to find that "gem" with other authors.... I really enjoy your writing style and the information is the best I have seen.
Thanks,
John Reed,
First, I just want to say that your real estate book, How to Manage Residential Property for Maximum Cash Flow and Resale Value, has gone a long way in helping me in my work as an assistant property manager.
I'm new to the residential management field and I feel that I've really been able to catch up pretty quickly, after reading and re-reading your book.
Thanks again,
Mike Macrone
You've made me lots of money over the years. Aggressive tax avoidance was a beautiful read. How to Manage Real Estate For Maximum Profit wound it's way into my mind. I've used it consciously at first & increased income & the value of my property. The style of analysis you apply to real estate helps me get in that groove and make better decisions. I'd have to sit down and think of specifics, but you're books have helped me make tens of thousands of extra dollars over the years. I'm a smart guy, you are too. I would have made money. But I've found little ideas and broad themes where I said aha! For a $20 book (at the time), I increased the income from, as well as the value of, my property by $15,000 using the idea of converting underutilized space into an extra bedroom. Didn't make two tiny bedrooms. The guys that built this duplex, made one giant weird looking bedroom. $50 worth of sheet rock, $100 of lumber, a door, and voila-more or less, and I have converted a two bedroom that rented for $425 into a three bedroom that rents for $500. Just have completed splitting the water service to this duplex as well, which will allow me to let the tenants pay for their own water. That's another $5000 in added value + less hassle time paying the bill. If they ever get pissed off and flood my duplex, they'll do it on their nickel. Thanks So Much!
Thanks So Much!
All The Best,
Gary Scarborough
All The Best, Gary S.
Thanks John! Your books and newsletter are the best in the industry. Keep up the great work. I have quite a few of your books, and a lot of books by many others. Yet I only ever reread and refer back to your books. Your books have substance, specifics and details where others are general and wanting.
Best Regards,
John,
I very much have enjoyed the books and newsletter. You've definitely
saved me from making some bad mistakes and easily saved me the cost of all the
books I've purchased. Thanks again!
Hello Sir! I have been a subscriber to your news letter for 10+ years, and have purchased many of your books.
I have found your writings to be marvelously helpful and entertaining reading. You are a real straight shooter.
Based on what I learned from you, I did 1031 exchanges [in] Haddonfield[, NJ] into [an apartment] complex in Burlington, VT.
I have also developed two commercial facilities in Vermont, and used your arguments and court cases to support component depreciation of 15 years rather than [39] years for landscaping depreciable life on these. Since one of these properties was built on enormous landfill, this was a huge difference in tax deferral. Any one of the things I did above would have paid for your newsletter subscription and books many, many times over.
Sincerely, Larry Kruse
Your book “How to Manage Residential Property” saved me after I inherited my father’s apartment complex many years ago—thank you.
Erin Carr
I have read numerous RE investment books, attended lots of short-courses, studied RE investment at Kent St. Univ using an excellent text/reference titled: Real Estate Investment by Pyhrr and Cooper, taught by an excellent professor whose PhD was in real estate studies. I also took the RE licensing courses and RE Finance at Kent St, though I never went for the license.
As an investor of 35 yrs experience in small, residential fixer-uppers, and one who has continuously attempted to learn more about the profession, I find your books the best overall literature, for the practicioner, of any source I've been exposed to. Your books are very pointed--no BS, all meat--just what most overworked investors are looking for. I particularly appreciate your high ethical standards and that your books don't waste my time with extraneous "filler" or dangerous, somtimes illegal, flights of fancy found in so many other "sources."
The book of yours still on my shelf is How to buy Real Estate for at Least 20% Below Market Value, vol. 2, which I consider to be the most creative book I've read on the subject. Another book I found to be very valuable is How To Manage Residential Property for Maximum Cash Flow and Resale Value, vol. 5. Another book or 2--I cannot be sure of the titles-- as it's been some time since I read them and lent them to friends. Probably never to return.
I have referred every RE investor I personally know to your books and your website, especially the numerous newbies who know not what they're getting into. Your books will get the beginner up to speed faster and more accurately than any other source I'm familiar with.
Believe me, I would have made far fewer mistakes if I'd had your books before I started investing. I've probably racked up at least a million bucks worth of "education" in mistakes! LOL!
I think any investor would enjoy your writing style. You are quite refreshing in your clarity, factuality and brevity. I also greatly enjoy your barbed sense of humor!
As one who has critiqued (for pay) a number of publications for textbook publishers and others, it is a rare pleasure to be able to say many positive things about your books. Actually, yours may be the only commentaries I've done where there are virtually no negative findings at all....hard to believe.
Keep up the good work.
Sincerely,
Noel M. Blankenship, Emeritus Professor of Technology
Kent St. Univ.
Kent, Oh
“I think your book is first rate! Your section on the economics and ethics of raising rents is worth its weight in platinum. I am merely reiterating what you know, but I have lost count of the numbers of landlords I represented doing evictions who were harming themselves badly by not staying on top of rent rates.
Apart from your well-written and well-thought sections on rents, the rest of the book is so incredibly useful that I think a) any real estate management company needs to require it as reading for any of their staff and b) if you manage real estate and don't read and heed it, you should try this experiment.
Walk into the shower, turn on the cold water and start to tear up $100 bills. Why? Because that would be better than trying to manage real estate w/o the insights of your book!”
Sincerely yours,
Alan Turin
“After spending an afternoon in Barnes & Nobles reviewing real estate management/property ownership guides, I eliminated 30 books and left purchasing just two—your How to Manage Residential Property and Landlording (the latter purchase made in part due to your recommendation).As a property owner with units scattered through several states based in large part to the cap ratio you describe, it was startling to find such a generous and comprehensive book that covered just about every issue with which I've grappled and keen and hilarious insights into some areas still unchartered. John, your willingness to share your observations, your varied experiences, your techniques in handling issues and even your supplier list in one volume—has created something of a landlord's bible, for which I am eternally grateful. Thank you for your writing.”LSeid46698@aol.com
“I just wanted to drop you a note to tell you how much I appreciate your books. I bought "How to Manage Residential Property For Maximum Cash Flow and Resale Value" in 1995 and "Agressive Tax Avoidance ..." in, I think, 1997.
They have been cornerstones of my investment and management strategies as I have grown from 17 houses that I had in 1995 to the 159 units that I now own. I suppose I could say a lot more. I do recommend your books to anybody that asks me about real estate. Bottom line -- thanks a lot for all your help.”
Regards, Ricky Dabbs
“Every real estate investor would profit from reading your books and newsletter. You challenge a lot of commonly held investment and management assumptions and business practices. You are the most practical, down-to-earth, no nonsense, humble real estate investment advisor in the country, a unique voice of reason in an industry filled with both accidental and deliberate mis-information.
Your primary weapons are a heavy dose of common sense, creative problem-solving, logic, a unique ability to share both your personal successes and errors. I doubt many investors manage to do everything you recommend, but when I look at the successful investors I have known over the past 25 years, it's clear their business plans follow much of the same advice you give readers every month.
I have enjoyed reading your articles for the past twenty or more years, and although I prefer to give myself credit for my successes, I am sure your reasoning, month after month, has shaped my own investment strategy. Thank you.” Mike Scott Dupre + Scott Apartment Advisors
"As an 'apprentice' real estate investor, I found this information to be complete, clear, and concise. A much better value than some of the well known courses. Would recommend to anyone contemplating entry into the real estate investment area." R.L. Ready, Chief Building Engineer, Arlington, VA
"I loved your book! I could relate very much to what you wrote especially in the introduction part of the book. It makes so much sense and its so very real like. I kept telling my father that it's one of the best books I've read and so easy to follow and understand. You've had much experience. I refer to your book all the time..." Jenifer Jones, Kaneohe, HI
"I have been searching the local libraries for information on residential real estate. Good information seems hard to find. I've found your book entitled How to Manage Residential Property For Maximum Cash Flow and Resale Value the most informative." Deb Ewals Indianapolis, IN
"Best ever. I loved the straight-forward, clear, well-stated, no B.S. presentation. I can't wait to find another great buy so I can start using some of your teachings." Name withheld by request
"Just a note to let you know how much I enjoyed your book. Especially your non-nonsense 'in your face' views about practical, rental property issues. Very valuable insight from an apartment investment valuation standpoint." Randy A. Tagg, M.A.I., Appraiser, La Mesa, CA
"I like the stuff in your head and thanx for taking the time to write the book." Gary Carlson, Chicago, IL
"Just starting with 2 condos and one duplex. Found lots of stuff I could use. Thanks!" Carol Ann Keegan, Patterson, NY
"One of the most useful and practical books I've ever read on any subject." Dave Warren, Orinda, CA
"Amen to your advice concerning flat roofs and underground piping." Jan Spiro, Crowley Lake, CA
"As a CPA I am exposed to many books on residential rentals. I would recommend this one to most serious investors." Ken Mueller, CPA, Shelby Township, MI
"Congratulations, and thank you for writing 'How to Manage Residential Property...' It should be required reading for any class on property management." Roy Squires, Kansas City, MO
"Keep writing and learning so other novices can learn and become successful." John E. Long, Lebanon, PA
"I've been a landlord for several years and you pretty much get exposed to everything, but yet John pointed out things that I never thought of." Andre Maillet, St. Petersburg, FL
"John Reed's book gave me the knowledge, courage, and confidence to go out and fulfill a dream I've had for years---real estate investing and managing. Enjoyed your book; keep up the good work!" Jo Bunney, Mead, WA
"Your style of writing is excellent. It really holds the reader's interest. My aunt, who cares nothing about real estate investment or property management, picked up the book and found it hard to put down." Pam Chavez, Alexandria, VA
"Your best book ever!! For the investors who don't read this book, we will be buying your properties utilizing these principles, maximizing our profit at your expense." Impressarios, Inc., Chicago, IL
"How to Manage Residential Property for Maximum Cash Flow and Resale Value is the most important book I have ever read on real estate. I am buying extra copies for my investor friends. I think anyone who is even considering investment in residential real estate should read this book." Darrell Woodruff, Glendale, CA
"John T. Reed is a property manager who knows how to maximize bottom line results!" Gerald Thomas, Park Ridge, IL
"I am about halfway through and find it very fascinating and helpful. It is very helpful, down to earth, as well as funny." John W. Taylor, NC
"I've read a dozen or more books on real estate and John Reed's How to Manage Residential Property... is by far the best. Straight talk. I loved it." Cameron C. Bartl, Oakdale, CA
"The best book on the subject that I have read so far. I wish I could have read it when I bought my first building." George Shaw, Brooklyn, NY
"Helped convince owner to overcome excuses for not raising rents aggressively. Increased rents over 20% with no adverse effects."Robert L. D'Orso, Indianapolis, IN
"Please accept our sincere thanks for the wonderful book, How to Manage Residential Property. It is very helpful and concise. You didn't leave anything out." Sister Marygrace, Executive Director, East Bay Services to the Developmentally Disabled, Concord, CA
"This whole book was a learning tool so there was no part I didn't like. Your sense of humor was appreciated after reading several dry texts." Ellyn Molina, Wheeling, IL
"Your book is excellent. So many really useful tips, practical and to the point." Mrs. John William Russell, Palos Verdes Estates, CA
"We had our first nasty eviction in ten years. We had a crack house and bordello doing business in an old residential brick ranch development. I was humiliated and wanted to threw in the towel. This book gave me confidence again." John W. Mileo, Newburgh, NY
"Your books and seminars have provided me with ideas which have enabled me to make good money in real estate transactions. I am in your debt." William McCormack, Los Altos, CA
"I read every book I can find on landlording. Yours are by far the best out of the 35-40 recent ones I got hold of (from libraries)!"Bob Weiss, Chemist/Investor, Jackson NJ