There are plenty of real estate books with plenty of substance out there. Combing through the whole bunch to find the best reads can be problematic and more so confusing. While self-education is important for all levels of investors, the right kinds of books can change your life and still empower you with the best knowledge about real estate.
Here are 8 real estate books that helped me on my path to becoming a successful real estate investor:
1. The Book on Investing in Real Estate with No (and Low) Money Down by Brandon Turner
At first glance the title seems to salesy and you think you are buying a book from one of those talk show gurus with big promise and a few pipe dreams to boot. Well, this is one of those times when you literally shouldn’t judge the book by the cover. The book takes on a different approach, a realistic one. There is no single stratagem that promises to get you rich in 4 weeks flat. On the contrary, it is packed with numerous strategies that are applicable in today’s real estate market. These are approaches that have actually been used by seasoned as well as rookie real estate investors with success. As the title suggests, most of the investment strategies in the book have nothing to do with the amount in your account; they are plans that help you build from the ground up.
2. My Life & 1,000 Houses by Mitch Stephen
This is the story of a self-taught entrepreneur who amasses a lot of knowledge in real estate as he buys properties and eventually gets to over a thousand units. The author takes your through the highs and lows of the trade while pointing out whatever mistakes he made on the way. It is an inspiring story of resilience and financial freedom. Anyone starting out on real estate will find this helpful.
3. 8 Ways to Purchase Real Estate with No Money and no credit by Jennifer Bland
Real Estate wealth can take time to grow and this is one of the biggest challenges most investors encounter when they start out. The idea that it’s just about buying houses and selling them at a profit might be peddled by the television as the real deal but it is not. A good investor needs to know what options they have to keep them going that won’t land them in a vicious cycle of debt. This is the investment book that teaches how to brave this period without debt financing.
4. The New Masters of Real Estate: Getting Deals Done in the New Economy
As is the case with any other professional field, real estate is constantly changing. The market won’t be what it is now in 5 years time and isn’t what it was 5 years ago. This book gives you the right information to succeed in today’s real estate industry and the prevailing economy. It is a collection of strategies sourced from the leading experts in the industry. 24 experts talk about the strategies of success as they have applied them. The knowledge you gain form this book will come in handy when choosing where to invest your money and what deals to ignore while increasing your profits wherever you invest.
5. Rich Dad Poor Dad by Robert Kiyosaki
It’s the kind of book that needs no introduction. You might have seen it on the back of a few magazine covers and even thought to you should read it. Well, if you haven’t then you might want to get that copy sooner rather than later. All the pompous talk aside, the book has some thought-provoking information that will shift your paradigm on investment. In the Book, Kiyosaki explains the importance of letting our money make us more money. Rich Dad has become a classic among investors because it explains in the simplest ways the most inner thoughts that cloud our minds every day when it comes decisions about money.
6. REO Boom: How to Manage, List and Cash in on Bank-Owned Properties
This is a comprehensive how-to guide that leaves no stone unturned. While there is a lot to learn in the changing trends of real estate, the information is delivered in a simplistic manner that makes it an interesting read. The book is littered with strategies to purchase foreclosures and distress properties. With this as a guide, a real estate investor can come from a long period of moving money around never really making progress to owning a real estate empire. Both time-served professionals as well as those who have no clue where to begin will benefit from the information they find in this book.
7. Real Estate Investing For Dummies by Robert S. Griswold and Eric Tyson
When you decide to switch careers and leave what you were used to ,there is a lot to learn. The only problem is that there usually isn’t much time for learning; you have to hit the ground running. This book lays out all the aspects of real estate that you need to know when you are still green. It also lays out the process of setting up a business in real estate, selecting good properties, finding the funds to get the properties and everything that has to do with renting the property. The in-depth approach helps new property investors become better faster.
8. Building Wealth One House at a Time by John Schaub
Any time you start something with the sole goal of making large profits, chances are you will wear yourself down too soon or stretch yourself too thin. In both cases, you end up stuck in the same place or quitting because you realize it was all a mirage. Schaub takes you through the step by step process that gets you to your bug pay day. This book will help you build a strong foundation on your way to financial freedom. What’s more, it uses a relaxed approach that does not put too much pressure on the reader to chase unattainable dreams.
All the titles in this list have a refreshing approach on real estate which hopefully helps to keep you intrigued as you go through it. Ultimately, everyone has something that works for them that more often than not is unique to them. This is just a helpful guide that will help when it’s time to brainstorm.