Everything in the book is exactly what my wife and I are currently doing to retire. It is not theory, or guess work, it is our experience in buying very cheap (slumlord) type single family residential properties, doing a quick make ready and renting them to lower income families. The intent of this book is to show others exactly what we have done to prepare for retirement since we lost what little we had in the stock market and recently lost approximately 40% of our 401K, and we bought our home a little late in life to reap any real rewards from the equity. The book is short on purpose as I don’t think it takes a 2”-3” thick 1000 page book to show what we’ve been able to do. I hope to skip as much fluff, as possible just to fill pages. I will discuss in detail with step by step instructions for each property we own and rent. We began with a $20,000, 2 bedroom/2 bath, pier & beam house and now have approximately $900,000 in rental properties. The words of the book are my plain, straightforward sometime Texas vernacular descriptions. There is nothing in here you can’t do if you will only take the first step and just start.
Most Helpful Customer Reviews
No Experience Necessary - Rental Property Retirement Guide based on 0 ratings. 1 reviews.
Reviewed by Jean Hall for Readers' Favorite Who doesn't need ideas to build a retirement nest-egg? Whether you are young or old, educated in school or in the school of hard knocks, learning how to buy and rent homes can be useful. Randy McDaniel in No Experience Necessary - Rental Property Retirement Guide is a common-sense book that takes the reader from square one to a property portfolio. Randy and his wife Debbie make a good team as they learn how to buy and clean up the modest homes that they rent. There is a brief biography of Randy and Debbie as they grew up in Texas. Randy spent many of his early years in a Methodist children's home as his mother had trouble making ends meet. The couple's experience is like many of those who were hurt in the great recession. They had deep losses in their stock investments and 401k accounts. The book flows smoothly from their humble backgrounds to entertaining stories about real estate buying and renovating. Randy McDaniel shares what it means to be behind the eight ball but to ultimately succeed in the home rental market. The tips and tricks of this business are straight to the point but with a little down-home flavor. Photographs of their individual properties, images, and descriptions of lessons learned, and detailed charts illustrate how the landlord can thrive. No Experience Necessary - Rental Property Retirement Guide by Randy McDaniel is a personal, readable story and a valuable source of technical information which de-mystifies the business process.