The best real estate investment books have one trait in common…they’re practical. They can be applied to real life situations and this is what separates great books from ordinary books, especially books where you’re looking for help. This list I’ve curated is useful because I know the authors have experience with real estate. If they didn’t have experience what’s the point of reading the book. But all these books will help you regardless if you’re a seasoned investor, or a beginner just trying to understand terminology and concepts. Investing in real estate can be a difficult task because it’s an asset class which requires lots of capital, but knowing how to effectively deal with tax, or learning how to evaluate properties can be easier when you read these books. Whatever the case, take the time to thoroughly read these books. Even if you don’t understand something, research it, and make sure you understand it before continuing. You’ll thank your future investor self.
The Book on Rental Property Investing & The Book on Managing Rental Properties
The first two books on the list are by Brandon Turner, and one of them was written with his wife. I have complete trust in Brandon Turner because he’s visible in the real estate investing community. Being a part of the Biggerpockets website doing podcasts and contributing to the forums and articles make him easy to trust. If that’s not enough, he does case studies on properties he has invested in himself. I remember watching a case study and he was talking about how one of his deals took place. He even does live webinars calculating a rental property’s value and cash flow.
By Buying both of his books which are the first two links on top, you’ll be setting yourself up for success because both books complement each other. This will definitely help you if you’re a newbie investor. When you get your first property, it’s ideal to house hack, or live in the same property you plan to invest with. This strategy is two-fold. First, it gives you experience as a landlord, and second, your mortgage will go down. Learning how to manage a property and invest in one are both written about in the first two books on top. If you don’t have money, but you have time, take advantage and start reading these books.
Besides learning about real estate, reading books help you understand how an investor thinks. Specific questions are asked when investing. Questions like what type of financing shall we do? 15 or 30 year mortgage? Appraisals? Are questions investors want answers to. Knowing how investors talk and getting into their mindset will help in the long run. One of the qualities of a great investor is reading. Understanding is the first step. But understanding without applying is useless in the wise words of Bruce Lee. A key part to investing is making quick decisions. If there is a property for sale, do you think other investors won’t find out about it and swoop in on the deal? These are practical examples where quick decision making helps.
The Real Estate Game
Reading “The Real Estate Game” by William J. Poorvu illustrates real life case studies to help investors assess risks and strategies to yield investment returns. Poorvu has experience in real estate development and individual investors. He also has experience teaching real estate management and investing at Harvard Business School. His book is an overview with from different experiences in real estate. Reading this book will teach you how to become a “value investor”, knowing when to bow out when conditions aren’t right, and buying at a discount.
Poorvu compares real estate to a game. You have your players; investors, developers, agents, brokers, etc. But you also have a goal. Providing more similarities to a game, he describes different factors in a game such as, markets, properties, and environment. He also gets into different ways to get invest in real estate. From direct buying to securities, everything about investing in real estate is in this book. Proven with experience, and explained with theory, Poorvu’s book “The Real Estate Game” provides investors an in-depth view of the real estate.
Crushing It in Apartments and Commercial Real Estate
If you want an inside look at commercial real estate then Brian Murray’s “Crushing It in Apartments and Commercial Real Estate” kills it. Not only does he give practical advice, he gives his own example of how anyone can make it. He’s a champion for the “small” investor and encourages local investors to get into commercial real estate. At one point, he was a “small” investor trying to make ends meet. If you’re looking for real estate advice you’ll get that, but prepare for some serious motivation.
The reason Brian Murray gives motivation is because he was a teacher trying to make ends meet. He knows what “small” investors go through trying to break into commercial real estate. Fast forward and he’s now a CEO and founder of Washington Street Properties and its been ranked on the Inc. 5000 which shows the fastest growing private companies. Whether you’re a newbie or veteran in the real estate game, this book possesses a rare combination of knowledge and wisdom that anyone can apply. Go get it now!
Real Estate Crowdfunding
Another great real estate investment book for 2017 is “Real Estate Crowdfunding Explained: How to get in on the explosive growth of the real estate crowdfunding industry”. If you want a book on raising capital through the internet, this is the groundbreaking book which helps you understand. To define, crowdfunding is getting a lot of people to contribute small amounts of money to your venture or project. There are a lot of success stories all over the internet, but not many people realize crowdfunding can make real estate investors successful also.
Salvador Briggman has firsthand experience helping people with crowdfunding. He helps entrepreneurs raise money on crowdfunding platforms and just last year, he helped 400,000 individuals raise money through his website, forums, and newsletter. Crowdfunding is a relatively new concept in investing, but opportunities are endless. If you want, investing in real estate developments are possible. Usually high net-worth or affluent people like doctors or lawyers can get in investing opportunities, but crowdfunding offers more opportunities to “small-time investors”. Other investment plays include REIT’s or securities. Although securities correlate highly with markets, crowdfunding presents direct investment plays. So if you’re wondering whether purchasing your book is worth your investment, just remember the opportunities crowdfunding presents.
All 5 books will help you become a better investor. Learning from Brian’s or William’s experience will help you avoid some of their own mistakes of the past. Seeing firsthand what they went through with personal investments teaches you what to look out for. It also shows you the mindset of an investor looking into real estate. Knowing whether you can add value to a property through additional income, or rehabbing can separate you from other investors who don’t see value in a similar deal. These books help you become more creative with financing and properties. Whether you’re a beginner or veteran in the game, these books are worth it if you find one game-changing idea. So click below and order one now!