“Turn Your Home Into a Rental House!” finally sees the light of day

 

Although it took a little longer than we anticipated, “Turn Your House Into a Rental House Instead of Selling It!” has finally popped out of the incubator and is available as a paperback book.

In a nutshell, what is this book about?

With my charming wife and business partner, Angy, as co-author, we have created a guide on how to find properties, live in them, and then turn them into a rental house, instead of selling them.

According to the “American Association of Realtors,” the average American purchases seven houses during their lifetime. Angy and I believe that those seven houses should be converted into rental houses and held for the rest of our lives. They are valuable assets that will generate monthly income for the hard years to come, and provide further assurance of long-term economic family security. Like the old folktale says: “Don’t kill the goose that lays the golden eggs.”

How does this book help the average Joe?

We show the average Joe where to find the best properties, how to pay for your houses, property inspection, the nitty-gritty steps on how to prepare your new rental house for tenants, how to attract and screen tenants, managing tenants, and complying with EPA regulations. The appendix includes samples of leases, property inspection sheets, tenant selection rating sheets, and many other valuable forms to get you started in your rental house business.

What do millionaires do that most people don’t do? 

Go into politics?

Buy their own Starbucks?

Become a bearded recluse?

Well, those are some of the things they do, but according to Thomas Stanley, in The Millionaire Next Door, most American millionaires own their own houses, and they own at least one rental property.

Our perspective is, “If it works for millionaires, it ought to work for us too.”

Our hope is that this book will inspire you to buy a rental property and to receive the enormous benefits from that one bold action. Even if you buy just one rental property throughout the course of your entire life, your economic picture will almost immediately get better.

You may wonder, as we did, “Why didn’t we do this a long time ago?”

Where do we order this book?

Click here to order the book through Amazon.com.

—–

Recommended reading:

The Short and Sweet Guide to Target Retirement Funds at Fearless Men

Creating an Outsourcing Master Plan For Your Business at Louisville Gals

Top Sights In Australia For The Adventure Seeker at Untemplater

Is There Right Time to Buy Real Estate? at KrantCents

How To Easily Reduce Your Utility Costs | 5 Simple Steps FRugal Habits

How Big Should Your Emergency Fund Be? at Work Save Live

Working Towards A Debt Free Lifestyle In 8 Steps at Canadian Budget Binder

Help Me Spend $1100! at Eyes on the Dollar

How You Can Start Freelancing at the End of This Article at Modest Money

0saves
If you enjoyed this post, please consider leaving a comment or subscribing to the RSS feed to have future articles delivered to your feed reader.

Tags: , , ,

18 Responses to ““Turn Your Home Into a Rental House!” finally sees the light of day”

  1. Terry, was wondering when you’d be back! Glad to hear the book is out and available! The last one I read related to real estate was Rich Dad Poor Dad and that didn’t really explain how to get into rental properties. It just said how lucrative it can be.
    John @ Fearless Men recently posted..The Short and Sweet Guide to Target Retirement FundsMy Profile

    • Terry says:

      John,

      Thanks for the note. It’s nice to be back again.

      I thought the same about Rich Dad Poor Dad, although I still enjoyed reading it.

      My wife and I get into the nitty gritty details about how we operate our rental business, with a touch of humor to keep it interesting.

  2. I was wondering where you disappeared off to. Congrats on the new book I think that’s great. I’ve read the Millionaire Next Door, it’s a great book. Now that our mortgage will be paid we’ll be looking into the potential of a rental as well. Mum and dad have a few in the UK and they said it was the best investments they’ve ever made. Thanks for the mention mate. Mr.CBB
    Canadian Budget Binder recently posted..A Love Letter And Life Lessons: Money Fool To A Budgeting Money Saver!My Profile

  3. krantcents says:

    Thanks for the links, I really appreciate it.
    krantcents recently posted..Is There Right Time to Buy Real Estate?My Profile

    • Terry says:

      Your welcome. I really enjoyed reading your article about the right time to purchase real estate.

      I thought it hit the nail right on the head.

  4. […] Finance, I Heart Budgets, The Heavy Purse, Money Smart Guides, The Frugal Farmer, The Random Path, Fix Em Up Rent Em Out and Budget and the […]

  5. Untemplater says:

    Thanks for the mention and congrats on finishing your book! That is awesome. I made a goal to write an ebook this year and I have not even written one full page yet, shame on me.
    Untemplater recently posted..Tips On How To Be More Persuasive And Get What You WantMy Profile

  6. Yeah your back!! And you have enough book!! So glad to see you on here again.
    Todd @ Fearless Men recently posted..Not All Carbs Are Created EqualMy Profile

  7. Great investment idea–there’s a finite amount of real estate in the world. If you have some, keep it and rent it!
    JW – AllThingsFinance recently posted..How To Find The Right Or Wrong Penny StockMy Profile

  8. Thanks for the mention!
    Kim@Eyesonthedollar recently posted..Should I Get a Smartphone?My Profile

  9. […] Your Home into a Rental House Instead of Selling It by Terry Sprouse and Angy Sprouse Planeta Books LLC. […]

  10. Alonzo says:

    Terry,

    Recently purchased your book and I love it! I live in TX. and I’m looking to get into rental properties.

    I have a follow-up question to your book:

    You mention monthly leases but in my mine RENT vs. LEASE means something different.

    Correct me if I’m wrong but..

    * A LEASE means the renter pays a month-by-month rent with a specific window allowing an option to buy, whereas…..

    * Simple month-by-month RENT, there is not a legal document outlying an option to buy… the tenant only pays month by month

    Is that a correct assumption?

    Second question:

    Do you and Angy have an LLC where you shelter your rentals under? If so, how does play into any tax advantages (i.e. Angy might be in a lower tax bracket than you so she claims all deductions as the sole representative of the LLC).

    Thank you so much for your response in advance!

    -Alonzo

    • Terry says:

      Hi Alonzo,

      Thanks for your comment. I’m glad to hear that you liked the book.

      In answer to your question, I was using RENT and LEASE interchangeably in the text of the book. However, in my mind, if someone has a LEASE PURCHASE AGREEMENT that allows them to rent the property and gives them the option to purchase the property at some specified date. But, check with an attorney if want want complete accuracy.

      I’m not using an LLC for my properties. I might look into it more in the future.

      Best of luck with your venture into rental properties!

Leave a Reply

CommentLuv badge