Management Masters Collection

The information contained in the Management Master Collection represents almost four decades of Jack Miller’s experience with single family houses.  His creative approaches to buying  and managing rental properties saved him tens of thousands of dollars and provided for hassle-free management which saved time and frustration.

If you ever plan to own rental property, or if you plan to master lease houses,
you absolutely need Jack Miller’s Management Masters Collection.

Many years ago when Jack Miller was just getting started, he was lured into the discounted mortgage ‘paper’ market by the prospects of easy returns and high yields. Jack bought 4 Second mortgage Notes. Within a year, the economy turned down and all four of my Notes went into default. He wound up with four houses with four First mortgage payments which had to be made each month. The negative cash flow this created was more than twice my monthly income. Jack had to find a way to convert the equities he owned into income. Thus Jack was forced to learn to manage.

For those seeking the top level power and control associated with executive authority, and with it, the ability to create a system which will provide for long term financial reward for themselves and their families; rental property management can provide a broad range of opportunity, and with it a lot of satisfaction.

Failing to learn the whole story about rental management is like learning to swim only half-way across a pond. With only a smattering of management knowledge, you can get into real trouble pretty quickly. You can’t buy this level of management information elsewhere!

In the Management-Masters Collection, we’ll delve into the under-pinnings of a successful Single Family House (SFH) portfolio. Major sections on “Selection”, “Tenant Management”, “Property Management”, and “Financial Management” will incorporate many of the details of cash-flow production. What you learn from this information can spell the difference to your estate of literally millions of dollars of personal net worth over a lifetime. The facts gleaned from years of hands-on experience will provide most of what you’ll need to know. The rest — the intangibles that generate success such as motivation, desire, initiative, courage, and discipline — are up to you. Like thousands of others you, too, can do it IF you truly want to!

A final caveat: Each State and locality has special rules which are applicable to rentals in its jurisdiction. The techniques and management approaches in this booklet have been applied all across the United States, but, you’ll need to get copies of local ordinances to be sure they aren’t violated. And, with tax laws changing each year, check everything I’ve stated about taxes with your accountant to he certain that you’ll be on firm ground in your tax planning. I hope this helps.

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VOLUME 1
Buying the Right Houses Right
Insider Secrets of Buying the Right Houses Right

The criteria for houses you select as a long term rental investment should be based first and foremost on the type of tenant it will appeal to: You want to own houses for the long term which will continue to appeal to the best possible of all the tenants in the rental market. You will want houses for which tenants will compete actively, paying the highest prices under the most stringent rental conditions.

Equally important is only buying or master leasing houses which will cash flow from day one.  You’ll learn what an adequate “spread” is for your rental properties and how you can increase  cash flow by buying with creative terms.

VOLUME I
INSIDER SECRETS OF BUYING THE RIGHT HOUSE RIGHT
‘THE FOUNDATION OF SFH INVESTMENT
The Rental Market
Why Buy Hard-Hat Houses
Pricing the Benefit Package
BUYING THE NEIGHBORHOOD, NOT THE HOUSE
Finding Ideal Investment Houses
USING RENTAL AGENCIES
CHECKLIST FOR RESIDENTIAL PROPERTY
WHICH HOUSES MAKE THE BEST INVESTMENTS
Mortgage Terms Control Feasibility
Trading Off Price for Feasibility
Picking Manageable Houses
Avoiding High Interest Rates
Coping With Due-On-Sale Problems
Physical Attributes
ACCEPTANCE INSPECTIONS THAT REDUCE MAINTENANCE

VOLUME II
HOW TO SELECT AND CONTROL TENANTS
TO MAXIMIZE CASH-FLOW

Before you’ll be able to grapple with the management of your assets you’ll have to learn to deal with the person who holds the key to your personal security . . . THE TENANT.

More to the point, you’re going to have to learn how to influence him to perform in a special way which will enable you to hold property safely for many years while he pays it off for you.  In short, you’re going to have to learn how to be a tenant supervisor.

Volume II, How to Select and Control Tenants to Maximize Cash Flow, will teach you how to find the ideal tenant who will stay for many years, pay on time, and take care of the property.

VOLUME II
HOW TO SELECT AND CONTROL TENANTS TO MAXIMIZE CASH-FLOW THE INVESTMENT CYCLE SETTING YOUR MANAGEMENT OBJECTIVES MANAGING PEOPLE VS PROPERTY DEVELOPING PERFORMANCE STANDARDS SUPPORTIVE PROFESSIONAL GROUPS FOCUSING ON LONG TERM OBJECTIVES PERSONNEL SELECTION CRITERIA BUILDING YOUR TENANT “TEAM”
Selecting Manageable Tenants
Avoiding Illegal Discrimination TELEPHONE/TAPE ADVERTISING TECHNIQUES STAGING THE RENTAL INTERVIEW
Initiating Psychological Tenant Controls
Tenant Interview Techniques
Admitting to Ownership
EVALUATING THE APPLICANT
INVENTORYING TENANT SKILLS REJECTING THE APPLICANT TENANT MOTIVATION
Intimidation – A Management Technique
Tenant Supervision
Using the Interview to Train Tenants THE RENT-UP RITUAL THE COMPLETE CONTRACT
Preventing Legal Problems
Preserving Personal Privacy
Establishing an Institutional Image
Using Clear Language Maintaining a Remote Stance
Assignment and Sub-Leasing

VOLUME III
HANDS OFF’ MANAGEMENT

Learn how to set up hassle free management systems that both you and the tenant will enjoy. These techniques will save you time and money… plus you’ll stay out of eviction court.  You’ll learn why you should never collect a security deposit, how to reward tenants for on-time rents, and how to drastically reduce the number of maintenance calls and repair costs.  Being a landlord will actually be a joy once you learn these Hands-Off, Hassle-Free Management strategies.

VOLUME III
‘HANDS OFF’ MANAGEMENT RENTAL AGREEMENT CONCEPTS AND PROGRAMS DEVELOPING YOUR STANDARD RENTAL CONTRACT
NEGOTIATING RENTS
Barter Hazards
Getting Rents Started A. S.A.P.
Surveying the Rental Market
DEPOSIT POLICIES AND ADMINISTRATION
Creative Deposit Approaches
Setting the Deposit Amount
Income Tax Aspects of Deposits
Getting Around Tenant “Short Stories”
Bartering for Deposit Credits
Pet Deposit Policy
Cleaning Deposits
USING OPTIONS IN LIEU OF DEPOSITS
MOTIVATING TENANTS WITH THE PERFORMANCE BONUS
APPLIANCE POLICIES
UTILITY BILLS
INSURING TENANTS’ POSSESSIONS
USING NEIGHBORS TO HELP WITH MANAGEMENT
HANDLING NEIGHBORS’ COMPLAINTS
KID POLICIES
Using the Interview to Screen Out Problems
SETTING RENT COLLECTION POLICIES
Rent Collection Methods
PRESENTING THE DISCOUNT PROGRAM
POSITIVE PAYMENT INCENTIVES
PROGRAMMING PROMPT PAYMENT
The Star Tenant Program
Star Tenant Letter
NEGATIVE INCENTIVES TO MOTIVATE PERFORMANCE
Levying Late Payment Charges ESTABLISHING A “CHECK” POLICY

VOLUME IV
QUICK EVICTION AND TENANT TURN-OVER TECHNIQUES

To maximize cash flow, your properties need to be occupied with paying tenants every day.  One month of a vacancy or non-paying tenant can wipe out a whole year’s cash flow.  In Volume IV, you’ll learn creative ways to get rid of problem tenants without going to eviction court, and you’ll learn how to reduce tenant turn over so your houses stay occupied and paying money every month.

VOLUME IV
QUICK EVICTION AND TENANT TURN-OVER TECHNIQUES
GETTING RID OF THE ” LOSERS” QUICKLY
Using the Police to Repossess Your SFH
Being Crafty – Not Crooked
Using “Water Tortures”
Raising the Rents for Self-Eviction
Locking Tenants Out
Buying Tenants Out
CONTROLLING ABANDONED PROPERTY
Locking in Profits
MONEY MAKING MOVES
Storage Charge Strategy
Owner’s Quick-Change Lock Control
Tenant Lock Restrictions
PARTIAL PAYMENT POSSIBILITIES
TERMINATING CONTRACTS EARLY
WORKING TENANTS’ PROBLEMS OUT AMICABLY
EVICTING THROUGH THE COURTS
LEGAL EVICTION PROCEDURES
THE SAMPLE RENTAL CONTRACT
CONSENT FOR MAINTAINING A PET
RAISING THE RENT
Picking the Best Time
Conditioning Tenants to Increases
WRITING THE RENT-RAISE LETTER
Raising Long Term Tenants’ Rent
Rent Raises for Trouble Makers
Roping in Your “Yearlings”
Non-Raise Letters for New Tenants
Handling Reluctant Renewals
TENANT MANAGEMENT SUMMARY

VOLUME V
MONEY-MAKING MAINTENANCE – CONCEPTS AND PROGRAMS

Learn a practical, economical, working system to enhance property value with minimum expenditure of cash.  In order to achieve this result, the conventional landlord will have to abandon traditional concepts of property management. He’ll have to recognize that getting the tenant to either pay for, or perform needed maintenance, may make the difference between success and failure in realizing his investment objectives. There is as much potential for increasing net operating cash-flow as a result of lower maintenance costs as might be generated from rental increases, and with far less friction from the tenant.

It’s in the rental contract!  Reduction of repair costs takes place at the inception of the tenancy and is accepted as a condition of the rental by those signing the contract. Tight control over this area of management can be critical to your investment cash flow.

VOLUME V
MONEY-MAKING MAINTENANCE – CONCEPTS AND PROGRAMS
DEVELOPING A MAINTENANCE PHILOSOPHY REDUCING THE BIG-3 EXPENSES PREVENTATIVE MAINTENANCE APPROACHES TENANT INSPECTIONS AND INVENTORIES USING RENTAL CREDITS TO BUY MAINTENANCE USING TENANTS FOR MAJOR PROJECTS
Contingent Rental Credit
CONTROLLING TENANT PROPERTY IMPROVEMENTS
Disclaimers
TENANT-BUILT ADDITIONS
MOTIVATING TENANTS TO DO MAINTENANCE
A Guide to Budgeting for the Young Couple
Simple Plumbing Repairs
Simple Home Repairs
USING COMMON SENSE IN DOING REPAIRS
ESTABLISHING A BACK-UP MAINTENANCE CAPABILITY
USING MILITARY TRAINED MAINTENANCE MEN
SELECTING YOUR MAINTENANCE MAN
CASH-FLOW MAINTENANCE SIDELINES
COOPERATIVE PROFITS
BARTERING GOOD AND SERVICES FOR RENTS
CONTROLLING PERSONAL PROPERTY
AVOIDING APPLIANCE REPAIR COSTS
PREPAID MAINTENANCE COUPONS
CO-VENTURING MAINTENANCE PROFITS

VOLUME VI
‘BOTTOM LINE’ MANAGEMENT

You must decide first what you want to accomplish; only afterwards can you start on formulation of specific strategies and tactics to achieve your objectives.  Your cash flow needs, will be determined by your lifestyle needs. The type and amount of properties you acquire to produce $5,000 per month in cash flow vs. $20,000 per month in cash flow will be drastically different.  During your career as a real estate investor, there will be times when it is necessary to liquidate some properties to pay off others or sell lower prices properties to acquire higher prices properties which produce more cash flow with less management. Only when you know what the exact profits, expenses, and losses are for each property can you determine if what to do.  In Volume VI, you’ll get the information and tools you need to determine if it’s time to hold ’em or fold ’em.

VOLUME VI
‘BOTTOM LINE’ MANAGEMENT
CASH FLOW GENERATORS AND FINANCIAL CONTROLS
PLANNING TO MEET FINANCIAL OBJECTIVES
STRUCTURING FEASIBLE FINANCIAL FOUNDATIONS
MORTGAGE TERMS CAN CONTROL APPRECIATION
NEGOTIATING “BASIS’ AS WELL AS TERMS
DOCUMENTING YOUR INVESTMENT TRANSACTION
ASSEMBLING A PROPERTY INFORMATION FILE
The Ideal Property Package from A – Z
Establishing Your Tax Basis
FUNDAMENTALS OF FINANCING RECORD KEEPING
USING “PACKAGED” SYSTEMS
SETTING UP BASIC FILES
FINANCIAL MANAGEMENT FORMS
PROPERTY RECORDS
Permanent Property Record Form
CALCULATING ANNUAL DEPRECIATION
Depreciation Form
USING FORMS TO CONTROL MANAGEMENT
CONTROLLING MONTHLY LOAN PAYMENT
Mortgage Payment Control Sheet
MAKING PAYMENTS “BY-THE-NUMBERS”
Mortgage Payment Control Sheet (Irregular)
Bank Account Information
Miscellaneous Records
CONTROLLING MAINTENANCE EXPENSE
Cumulative Maintenance Record Form
Comprehensive Expense Record Form
ALLOCATING MANAGEMENT AND ADMINISTRATION EXPENSES
RENT COLLECTIONS – THE LIFE BLOOD OF INVESTMENTS
CONTROLLING CASH RECEIPTS
USING A “COLLECTOR” FOR RENT PAYMENTS
3-Day Notice
Bad Check Notice
THE MONTHLY COLLECTION CONTROL CHART
THE RENTAL RECEIPT RECORD
Rental Receipt Form
SUMMARIZING FINANCIAL RECORD KEEPING

VOLUME VII
PROTECTING YOUR EQUITY AGAINST LOSS

Insurance can protect you against loss of the property but there are many other aspects a landlord needs to take in to consideration too.  In Volume VII, you’ll learn about proper insurance selection.  You’ll also learn how to reduce management costs but still get the best team.   The terms in the rental contract (provided in Volume VIII) will protect you from many other types of losses.  For example, you’ll learn how to avoid missed rent payments by setting up automatic drafts from the tenant’s account and how to have a have the tenant’s credit card as a back-up rental payment system.

Learn how you can completely avoid being a landlord but still enjoy all the cash flow when you sell houses with seller financing or a land contract.

You don’t have to buy houses to enjoy the cash flow.  You can master lease with the right to sublease.  When combines with an option, you can also control future appreciate too.

VOLUME VII
PROTECTING YOUR EQUITY AGAINST LOSS
How To Use Time-Tested Techniques
for Increasing Rental Cash-Flow
INSURING AGAINST LOSS
PEOPLE: WORKING PARTS OF THE CASH-FLOW GENERATOR
‘HANDS OFF’ MANAGEMENT
Temporary Management Methods
Tenant Notification Letter
Hiring Remote Management
Building Your Permanent Team
SOLVING VACANCY PROBLEMS
Option to Purchase
OUT MANEUVERING RENT CONTROLS
FORECASTING CASH FLOW NEEDS
Capital Budgeting
Balloon Note Calendar
THE IMPORTANCE OF CREDIT RATINGS
USING LINES OF CREDIT
WORKING WITH PRIVATE INVESTORS
HOLDING JOINT TITLE STRATEGICALLY
CONTRACT APPROACHES TO PROFITS
Indexed Land Contract Clause
COPING WITH NEGATIVE CASH FLOW
Standard Option Contract
Lease Sandwich Positions
ANNUAL FINANCIAL ANALYSIS
Annual Income and Expense Graph
Planning Your Escape Route
Property “Hit List”
YEAR’S END SFH ESTATE BUILDING STATEMENT

VOLUME VIII
STATE-OF-THE-ART RENTAL AGREEMENTS, FORMS & CHECKLISTS

Get a landlord friendly rental contract and all the forms and checklists you need for hands-off, hassle-free management

VOLUME VIII
STATE-OF-THE-ART RENTAL AGREEMENTS, FORMS & CHECKLISTS
Rental Agreement
Lead Based Paint Disclosure & Tenant Acknowledgement
Addendum to Contract
Co-Signer agreement
Joint Liability Agreement
MONEY SAVER CHECKLISTS
Agreement for Maintaining Smoke Detectors
Inventory and Inspection Records
Abstract of Rental Contract
SPANISH LANGUAGE Rental Agreement