Knowledge is power, and when it comes to real estate investing, it is no different. Many people started out in the real estate investing business with zero experience. So, if you are considering becoming a real estate investor, and think that having no experience or real estate knowledge is an excuse, think again!
In today’s world, there are tons of sources to get information, and they are just within the reach of your hand, literally. Yes! And if you think business schools are a little too expensive for you, get self-educated through the hundreds of books that discuss every aspect you may have ever thought of about real estate.
Whether you are a beginner in real estate investing or you have been in the market for some time now, here’s a selection of the real estate books to get you through in real estate investing:
Related: Residential Real Estate Investing Is the Best Investment Strategy There Is
1. The ABC’s of Real Estate Investing by Ken McElroy
As the name may suggest, this book is a guide for those who are aspiring to invest in real estate in the long run. McElroy provides a comprehensive view on what you need to take into consideration when it comes to selecting, acquiring, and running commercial and residential real estate properties. It’s a good starting point if you want to learn the foundations of real estate investing. This is an easy-to-read book that mostly focuses on the benefits of well managed investment properties as well as providing many plans and strategies for the long term, including the advantages of buy and hold real estate as one of the best investments in real estate. This handbook is a great introduction if you are a new real estate investor. However, it may not come handy to experienced real estate investors, as they may need more advanced level books.
2. The Book on Investing in Real Estate With No (and Low) Money Down by Brandon Turner
If you think no money is an excuse for not getting started in real estate investing, this is the book for you. It will help you get involved in selling and buying properties when you have little money or no money to get started in real estate investing. This book gathers different real estate investing techniques, drawbacks of investing, and how to defeat them, with a combination of different scenarios that prove that no matter how little money you have in your pockets, you will always find a way to afford a real estate investment property. Turner does not hand you a one-to-one guide on getting money, but he surely awakens the creativity inside you to look for opportunities and attract lenders.
Related: Are There Easy Ways to Make Money in Real Estate?
3. Building Wealth One House at a Time: Making It Big on Little Deals by John Schaub
If you have some financial experience and are looking for some tips out of someone’s personal experience, then this is the real estate investing book for you. This book basically talks about accumulating multiple homes; “Buy one, rent one, then and only then look for the next deal” as John quotes. The book explains some tips and strategies on how to find good deals and where to find good investment properties. It also gives you a guideline of what questions you should be asking about the house and the owner. The author believes that the best deals are just around the corner from where you live. There is no need to look for investment properties outside your city or town. With a 30-year experience in real estate, John Schaub also talks about how to keep and manage tenants, highlighting that long-term rental deals are the best. He suggests that you, as a real estate investor, should be a good owner and manage your property well, giving the tenant a reason to pay the rent on time. The author emphasizes to always look for quality over quantity in real estate investing.
4. What Every Real Estate Investor Needs to Know About Cash Flow by Frank Gallinelli
This real estate investing books talks numbers! To those who like to explain everything with math, he even includes excel sheets to understand the formulas. This read’s main concept is that calculations and math must be the basis for your financial decisions in real estate investment. Many of those so-called investors do not know how to correctly calculate cash flow, long-term gain, net operating income, or any financial formulas. This, in fact, can lead to disasters in your real estate journey. This book is a must-have whether you are a beginner or an experienced real estate investor or even a homebuyer. It’s a handy reference to keep on your bookshelf.
5. Build a Rental Property Empire by Mark Ferguson
This 346-page book was written by a successful and experienced rental property owner and fix and flip real estate agent. He started 7 years ago, and now he owns 16 rental properties. He wrote this book in a direct and easy language to teach you what good rental property is, how to finance it, and how to spot good real estate investment deals. This piece of real estate knowledge is not about theories, it’s real-world cases and studies from an experienced real estate investor in today’s market. This book is a straightforward guide to making money in real estate. It does not only provide you with the best investment strategies in real estate but also with some exit strategies.
Related: Buying a Rental Property? Consider These Factors
6. The Loan Guide: How to Get the Best Possible Mortgage by Casey Fleming
Before you drown in debts, understand the loan market and the best financial program to fund your real estate investments. Therefore, this book is the ultimate guide for you on this matter. The word mortgage can be scary sometimes. However, this book shows you how to use a mortgage to effectively benefit your investment and to finally understand how the lending channels work. In addition to a plan to find the best loans and price point that fit your plans and goals, what’s great about this guide also is that you can find the information easily, especially in case you are looking for certain high-quality advice in order to get the best mortgage. This real estate investing book was first written in 2008 and updated into a new issue in 2014 to fit the current rules and guidelines.
7. Profit First: A Simple System to Transform Any Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz
Another great book is all about the most important key point to manage a successful real estate business. It offers simple procedures to make money and manage your finances. It’s the perfect book for those who are facing trouble to get their investments and profits to the next level. It offers new perspectives on growing your real estate investing business.
8. More Than Cash Flow: The Real Risks & Rewards of Profitable Real Estate Investing by Julie Broad
This book will take you behind the scenes of real estate investments. It will debunk all the myths you have ever heard about becoming a real estate investor. If you are a beginner real estate investor, and you are willing to face the good and the bad associated with it, then you should take a look at this book. Julie Broad proves a point that no matter how easy some people will make it look, real estate investment doesn’t mean that money and success will come overnight. She also suggests answers to the question of whether you should quit your job and become a full-time real estate investor or not.
9. Investing in Duplexes, Triplexes & Quads by Larry B Loftis
Real estate investor and attorney Larry Loftis offers a decision-making strategy for people interested in residential real estate investing. It talks about investing in duplexes, triplexes, and quads. The author developed some easy ways for new and experienced real estate investors to step up their game, combining his legal and real estate investing experience to get the most advantages out of residential properties of two to four units as well as reaching beyond these aspects to eliminate risk and make sure you pay your mortgage payments on time. This real estate investing book also suggests ways to take advantage of inflation and tax laws to build your retirement nest.
10. Real Estate Investing Gone Bad: 21 true stories of what NOT to do when investing in real estate and flipping houses by Phil Pustejovsky
Many books on real estate talk about how things can go bad, keeping in mind that sometimes there are risks in real estate investments. Well, this real estate investing book shows real-life stories about it. This book gives you the opportunity to learn from other real estate investors’ mistakes so that you can avoid them. It focuses on long-term real estate investments and flipping houses in particular. After all, you will gain some wisdom from the mistakes of others who lost fortunes along the way.
For more advice on becoming the best real estate investor in town, keep reading our blogs on Mashvisor.