Plug the Holes, Fill the Barrel: A Beginners Guide to Building Wealth with Real Estate

Description

Plug the Holes, Fill the Barrel is the antidote to the drudgery of saving for 40 years only to wonder if those savings will last through retirement. The author, Jason Kogok, breaks down complex topics that may seem daunting to the beginner investor, from principle/interest payment strategies, to financing options, to effectively selecting the best investment properties in various markets. He answers common questions with practical guidance, like how to build a network when you’re just starting out, accurately forecast cash flow, leverage properties you already own to maximize future earning potential, and much more. He also delves into the less commonly discussed challenges specific to investing in rental properties, like effective property management techniques, red flags and must-haves of leases, and qualifying and managing your tenants in a way that creates efficiencies, reduces vacancy and increases cash flow.

Dripping with real world examples, this book demystifies ubiquitous investor “rules” and addresses common concerns like understanding market analysis, BRRRR strategy, real estate vocabulary terms and financing options and investing calculations. The text examines all styles of residential real estate investing, including single family and attached homes. There is also quite a bit of explanation for various investment strategies, leverage, profit measurements and creative ideas that can teach you the way of the pros. The author also includes those often overlooked, but critical, often missed topics such as taxes, capital gains, depreciation, depreciation recapture and 1031 exchanges. The book discusses property management, leases, how to qualify and manage tenants in a way that creates efficiencies, reduces vacancy, and increases cash flow. After finishing, readers should feel very comfortable on starting their own path to financial freedom, creating wealth with real estate investing, and retiring early.