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 investors guide to doing it all with less stress and higher 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 youre 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! Mikes 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 tabletand best of all, most of the technology doesnt cost a penny.
There comes a time in every landlords landlording experience when the income doesnt feel worth the hassle. Dont give up! Investment property can be a wonderful source of incomewith the right approach. Mike Butlers approach is autopilot, and it tips the scales toward more profit, more income, and much less stress.
Discover the latestand mostly
freelandlording technologiesHUGE Updates on Section 8, rental application processing changes, and moreHow To deal with the latest rash of federal, state, and local laws attacking landlordsExplore 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 Autopilotis your ultimate guide to reclaiming your timeand your profit.
PLUS FREE GIFTS from Mike Butler!
159 point Rent Ready ChecklistYour 18 page Ultimate How To Guide to Taking Multi-Purpose Photos and Videos of Your Rentals12 Brand New Updated FORMS for Your Rental Business
ACKNOWLEDGMENTS xvii
ABOUT THE AUTHOR xix
INTRODUCTION: 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) xxi
SECTION I YOU MUST HAVE THE RIGHT MINDSET FIRST
CHAPTER 1 Why Residential Rental Properties? 3
Real Estate Investing 101: The Basics 5
Do It SafelyKeep Your Job! 6
Rule 1Etch This in Stone 7
CHAPTER 2 The Life Cycle of a Tenant from A to Z 11
Point A 11
Point Z 11
A Few Landlording Ground Rules 14
Do Some Research on Your States Fair Housing Law 20
Fair Housing Laws and ADA, Both Federal and Local 22
ADAAmericans with Disabilities Act 23
CHAPTER 3 Before You Turn on Your Smartphone: Real Estate Investing Is NOT FIRE, Ready, Aim! 25
Beginner Basics of Autopilot Landlording 26
CHAPTER 4 Never, Never Call Yourself a Landlord 31
Stupid Move on My Part 32
My Tenants Already Know Me as Their Landlord! 35
CHAPTER 5 Are Tenants Your Customers? 39
Why the 1960s TV Show Leave It to Beaver Is Important 40
Your Rental Application Becomes a Job Application! 41
What about the Holiday Season? 43
Your Benefit from the Annual Holiday Bash 45
SECTION II BEFORE YOU GIVE KEYS TO YOUR NEW RESIDENT
CHAPTER 6 Never Show a Vacant Unit Again! 49
But Mike, What If They Trash My Rental or Steal Stuff? 50
How Can I See a Vista Rental Home? 51
Old School: Submitting the Application Is Your First Critical Step 53
CHAPTER 7 A Rental Application Is Your Crystal Ball 57
Your Rental Application Process Is by Far the MOST Important Link in Your Rental Business 57
Your Rental Application 60
Here Comes the Big Boom 61
The Rental Application Form 62
Why You Can Apply This Very Simple System to Everything You Do in Your Rental Business 69
CHAPTER 8 Never Disqualifying an Applicant Keeps You Safe 81
If You NEVER Disqualify an ApplicantYou Will Reduce Your Odds of a Discrimination Complaint 82
CHAPTER 9 Why March 31st Is a Wonderful Day! 85
CHAPTER 10 Your Digital Cookie-Cutter Move-In Process 87
Always Remember Your Residents Cause Their Own Problems 87
CHAPTER 11 Transforming Your Rentals into Tanks and CA$H COW$: Quality of Your Property Parallelsthe Quality of Your Tenant 95
Energy Efficiency 95
Plumbing and HVAC 96
Floor Coverings 97
SECTION III GO 100% DIGITAL AFTER THEY MOVE IN
CHAPTER 12 How to Consistently Get Paid Over 100% of Your Rents Every Month 103
Failing to Plan Is Planning to Fail 104
Proven Systems Are Time Savers, Money Makers, and Good CYA Programs 104
How Do You Treat Your Real Estate Investingas a Hobby or a Business? 105
Work SMARTER, Not Harder! 106
It Doesnt Cost You Anything to Ask a Question 107
Payment Plans and Payment Plan Form 109
CHAPTER 13 You Really CAN Teach Pigs to Sing 113
CORRESPONDENCE Is Now 100% Digital 118
CHAPTER 14 Digital Work Orders and Repair Requests 121
CHAPTER 15 Removing Bad Apples 125
The Challenge 126
Barney Fife: Nip It in the Bud 126
CHAPTER 16 Mikes Move-Out System Makes You Money 133
Do Not Balk at the Idea of a Referral Fee 139
SECTION IV MASTER THESE TO MAXIMIZE YOUR INCOME AND PROFITS
CHAPTER 17 MARKETING Makes It Happen, Not Advertising 145
Referrals 145
Business Cards 146
Website 150
Other Things to Include in Your Website 155
Yard Signs 158
YOUR BIG PICTURE for Marketing 166
CHAPTER 18 PERSONAL SAFETY Is a MUST in Todays World 169
Real-World Tragedies 169
PERSONAL SAFETY IS a MUST in Todays World 170
LIFE IS TOO SHORT! 175
CHAPTER 19 Laws, Laws, and More LawsOh My! 177
Security Deposits 179
Whats the METHOD TO THIS MADNESS? 180
HATS We Wear 181
The Ultimate ICING on the Cake! 181
What Can You Do? 182
School of Hard Knocks 183
CHAPTER 20 Your New Pain-in-the-Butt Business Partner 187
HUDs Section 8 Program: BEWARE! 190
CHAPTER 21 Insurance and Environmental Concerns: Rule 1: Always Make Your Resident(s) Buy Renters Insurance BEFORE You Give Them Keys! 195
CHAPTER 22 Biggest Mistakes of Investors 205
CHAPTER 23 The Hidden TAX BENEFITS: Especially If Youve Got a Job 211
Here Comes My TSUNAMI! (A Good Thing) 211
So How Does DEPRECIATION Affect Me as an Investor? 213
Whats the Catch with This Depreciation? 214
EARNED INCOME versus PASSIVE INCOME 218
In Summary, The Big Picture, The Simple Cut to the Chase 219
CHAPTER 24 Whats Best: Houses, Duplexes, Trailers, Apartments, Commercial, or Dirt? 221
Single-Family Houses 221
Duplexes and Houses Chopped into Units 224
MultiFamilyApartments 225
Mobile Home Parks 230
Commercial Property 232
Dirt 233
Self-Storage 234
Marinas, RV Parks, and More 234
Winner 235
APPENDIX A Recommended Resources for Your Business 237
APPENDIX B FORMS and More FORMS 245
INDEX 249
