Product Description

You have to be a cold hearted SOB to be a successful landlord. Find out what happens to a naïve, kind hearted couple that entered this shark den with all the right intentions, only to be bloodied and battered by manipulative, devious tenants. Written in a witty, comical tone, the book provides lots of practical, useful advice for people interested in entering this business. However, plenty of warnings are given, as are outright pleas for you to "stay away". Fully a quarter of the text is devoted to "laugh out loud", true horror stories that make for a great read, regardless of your interest in rental property.

All the other books in this genre are generally positive on being a landlord, and many merely suffice to sell the author’s ideas or training materials. This book is not trying to sell any such thing. Instead, this text seeks to entertain, inform, and tell the truth about managing rental property. And the truth is frightening.

Product Details

• Amazon Sales Rank: #602973 in Books
• Published on: 2004-07-15
• Original language: English
• Number of items: 1
• Binding: Paperback
• 168 pages

From the Publisher
To those who believe renting out houses is as easy as changing a light bulb, Tony and Sandra Midea present an enlightening perspective based on personal experience in their new book, A Fool’s Guide to Landlording (now available from AuthorHouse).

In their guide, the Mideas provide a wealth of information about the important aspects of the rental property game. The chapters delve into what any prospective landlord should know, from buying the house to fixing it up and finding the ideal tenant. The Mideas even navigate the unsavory topic of eviction. Using personal examples with tenants, they outline the necessary research and required labor that results in successful renter-owner relationships and some of the slip-ups that can put a landlord in a nightmare. Although each chapter is peppered with a healthy dose of wit, the book is loaded with essential wisdom that empowers those seeking to roll the dice in this game of trust in human nature.

In fact, an entire chapter of the book is devoted to the Mideas' experiences with irresponsible tenants. Simply titled, "Horror Stories," this section of the book takes a look at renters whom the Mideas have dubbed "The Liars," "The Losers," and "The Druggies," to name a few.

An informative read for potential buyers in the rental real estate market, A Fool’s Guide to Landlording also offers a compelling and hilarious glimpse into the lives of the caring landlord who is all too often mistaken for the town villain.

The Mideas ventured into the rental property business in 1993 with the purchase of their first single family home and eventually expanded their business to include seven homes within two years. At the height of this endeavor, they both worked as full-time corporate managers and handled the properties in their spare time. They currently live in Cleveland, Ohio, where they still own one rental home. Both Sandra and Tony have published numerous technical papers in magazines, journals and for technical conferences, but A Fool’s Guide to Landlording is their first book. "I wanted to get the horror stories off my chest," quips Tony.

About the Author
Tony and Sandy Midea ventured into the rental property business in 1993 with the purchase of their first single family home, and eventually expanded this business to include seven homes within two years. At present, they still possess one rental home. During the heyday of their rental property business, both were mid-level managers within large corporations, and managed the properties in their "spare time". Their experience with first hand management of these rental properties for the past 10 years forms the basis of knowledge for the book. The comical, light hearted writing style is derived from their playful senses of humor, and seeks to inform while entertaining.

The couple currently resides in Cleveland, OH.

Excerpt. © Reprinted by permission. All rights reserved.
Chapter 1: What Are You Thinking?

Don’t!!! Just do not do it!!!! Stop right now, toss this book away and slap yourself silly until you get all thoughts of being a landlord out of your head. Believe me, this self-imposed punishment will pale in comparison to the ugly world you seem hell bent on entering.

Oh, I know, you think that you’ll make some money off of your investment, that investing in real estate is safer than the stock market, that you’ll lower your taxes, and an endless line of other justifications that make becoming a landlord seem like a sensible thing to do. Maybe, maybe not. If you’re lucky, financially you’ll break even. Chances are you’ll lose money, and more importantly, your faith in human kind.

So what makes us such experts to be writing a book and dissing your ambitions? After all, all those TV real estate gurus say anyone can do it. Well, we did more than dip our toe into the rental game. We dove in full force and came out of it bloodied and battered. We still have one single family home that we rent, but when our reliable tenant moves on, we will have none.

First, a little about our aspirations to help you understand how and why we did the rental thing. We had hoped to buy several properties, hopefully gain the experience needed to move on to multi-unit complexes and leave conventional employment behind us. My wife and I both have some skill in home repair and maintenance, have an understanding of business and taxes, and generally work well with other people.

So, if you bought this book because you wanted to get advice from some professional real estate guru, well, you screwed up. Take heart, though, I’ve read all of those books by these "qualified" characters. While they give SOME good advice, I thought they tried too hard to sell their ideas. The business is not as easy as they claim, has substantial downside risk, and is not as profitable as they claim. At least not for common "Joes" like us. This book gives you the "man on the street" experience.

Customer Reviews

Makes you feel less of a fool!
I bought this book after an editorial in the Plain Dealer. This book was lighthearted, yet informative. The horror stories made me feel less of a fool...other landlords had the same issues I have! I think the authors offered honest advice and good opinions on how to handle various landlord/tenant matters. This book should be in supplement to a more law-driven landlord guide, but defininitely worth reading (and rereading).

funny but true
Humorous and light-hearted view of being a landlord but oh so true. Some good tips and information too. Perfect for someone getting started or already in the business. Definately worth the read.