Trump University Real Estate 101 Book Review

The book, Trump University: Real Estate 101 is written by Gary W. Eldred, PhD. The book is well written and contains some great information on basic real estate investing, and how anyone with capital to invest and good smart and street senses, can build wealth using real estate. The book’s foreword is written by Donald Trump, but the rest of the book is written by Dr. Eldred, Trump simply lends his “Trump University” name to the book.

The book does have some great tips for investing in real estate, including some of my personal favorites here. The book discusses some things you should look for when looking at a rental property. These include, but are not limited to:

–          Views

–          Energy Usage/efficiency

–          Square footage

–          Natural light

–          Ceiling height

–          Quietness

–          Parking

–          Room count

–          Appliances

–          Landscaping

–          Quality of finishes

–          Heat/air conditioning

–          Decks, patios, balconies

–          Cleanliness

–          Carpeting, etc

–          Electrical outlets

–          Emotional appeal

–          Color schemes

–          Living area floor plan

–          Closet space

–          Storage space

–          Kitchen functionality

–          Entryway convenience

–          Tenant demographics

–          Tenant lifestyles, attitudes

–          Lighting

–          Security

–          Laundry facilities

–          Fireplace

–          Physical condition

–          Window coverings

–          Types/styles of windows

–          Image/reputation

–          Furniture

–          Kitchen and bath pizzazz.

Also important, but not on this list include security deposits, terms of the lease, quality and of management, and location.

It’s also importing to make sure you pay special attention to the kitchen and bathrooms. It’s always important to make your kitchens and bathrooms look new, remodeled, and clean. Check the floors, ceilings, sinks, toilet bowl, windows and windowsills, electric outlets, lighting, faucets, walls, cabinets, appliances, countertops, mirrors, and more.

When owning rental property, it is also important to make sure you make your property look its best. Some ways to do this include cleaning up the grounds, performing yard care and landscaping, making sure walkways and parking areas are clean, accessible, and in good condition, fixing any fences, lampposts, and mailboxes, and making sure overall the exterior of the building is in very good shape.

There are also ways to earn money through your rental properties, through ways not just by rent. You can install rental washer and dryer hookups someplace on the property, where the tenant can either rent the unit or you can charge through coins or electronic card operated machines. This is important, as most tenants would not want to carry their clothes to a Laundromat. You can also make money through parking fees, where you can charge to park, or can charge if they have more than the allotted number of cars. You can also earn money through storage lockers, charging fees monthly to have storage in the attic, or at a different location for certain things. Amenities, such as cleaning, daycare, and transportation are other ways to increase your revenue, although it would be difficult to do, unless you hire someone, or have free time yourself to do the work.

Overall, the book has a lot of great information, and I enjoyed it a lot. I included some of what I thought was some of the better information, so hopefully this helped you out, and perhaps you’re interested in the book now. I took it out from my local library, free of charge of course.