When it comes to real estate investing, the adage “information is power” is especially relevant. Real estate has its risks, so it pays to educate yourself before entering. An excellent method to become familiar with real estate investing before you go in over your head is to put in the effort and educate yourself. But where do you begin with so many resources? Fortunately for you, we’ve compiled a list of the top nine books for novice real estate investors.
Best Books for Real Estate Investors
Learning is the first step to success in real estate investing. The 34 books listed below contain priceless guidance from seasoned real estate investors on a variety of topics. Our objective is to present a thorough list of the top books on real estate investing that cover all relevant topics. Find the book that addresses your particular needs and become an authority on the subject.
#1. “The Book on Investing in Real Estate with No (and Low) Money Down” by Brandon Turner
This book is on our list of the best books for beginning real estate investors because it emphasizes making investments with the least amount of money possible. The central concept of the book is how to leverage credit to buy real estate investments. Turner’s book provides you with innovative methods to raise money for your project while avoiding various fundraising pitfalls, whether you’re seeking lenders or private financing.
#2. David M. Greene’s “Buy, Rehab, Rent, Refinance, Repeat”
The “Buy, Rehab, Rent, Refinance, Repeat” (BRRR) approach involves starting with just one property and progressively expanding your investment portfolio. The specifics of this process are covered in this book, along with advice on how to get the most of each step.
Hence, to maximize the value of your investment properties. Learn how to negotiate sales, spot upgrades that add the most value, decide whether to flip, and use the equity in your properties.
#3. Amanda Han and Matthew MacFarland’s “The Book on Tax Strategies for the Savvy Real Estate Investor”
This book is known as one of the best books for real estate investors. Even though tax preparation could appear challenging. So, if you’re a real estate investor, you need to be unquestionably concerned with taxes. Your investment income could be drastically reduced by factors like capital gains tax. This is the justification for this book’s reputation as one of the best for newbie real estate investors.
This book is also known as one of the best books for real estate investors that will teach you how to invest wisely, take full advantage of your tax deductions, and ultimately pay the least amount of taxes possible. You can get ready for tax season with the help of its advice and insights. This book may teach you how to optimize your tax deductions.
#4. Phil Pustejovsky’s book “Real Estate Investing Gone Bad: 21 True Stories of What NOT to Do When Investing in Real Estate and Flipping Houses,”
Sometimes learning the opposite is just as beneficial. Hence, with the help of this book which is rated asone of the best books for real estate investors, you can avoid a lot of the mistakes that real estate investors and home flippers make. Without putting millions of dollars at risk, heed the insights these investors have found. Because it allows you to be aware of dangers without actually accepting them, this is a fantastic tool for beginners. Keep in mind that some students paid a lot of money for these classes. All you have to do is buy the book to learn them.
#5. Robert T. Kiyosaki’s “Rich Dad, Poor Dad”
Even though it doesn’t focus specifically on real estate investing, this is a wonderful book for any novice investor to read. You can learn the mentality you need to have to make money from Rich Dad, Poor Dad. To invest and watch your money grow, you don’t need a lot of cash. It would be wise for any new investor to start with these tried-and-true ideas.
#6. Brandon Turner and Josh Dorkin’s “How to Invest in Real Estate: The Ultimate Beginner’s Guide to Getting Started”
This book by Brandon Turner and Josh Dorkin is the best on our list for beginning real estate investors since it provides a deep overview of the industry’s fundamentals. If you want to find out more about your alternatives for investing in real estate, this is a wonderful place to start.
There are several options available to you in How to Invest in Real Estate, not just one. Turner and Dorkin provide more than 40 diverse stories from successful, contemporary real estate investors, covering everything from flipping to investing as a side business to full-on property management.
#7. Ken McElroy’s “The ABCs of Real Estate Investing”
The ABCs of Real Estate Investing by McElroy is one of the best books for people who want to start investing in real estate. It focuses on market information, transaction negotiation, and cash flow management. The ABCs of Real Estate Investing, in contrast to the first book on the list, concentrates on bigger properties such as apartments, condos, and townhomes.
This book tells you how to find these larger investment properties and how to work with other investors to buy bigger properties. Once you have them, you have to keep making money off of them. The ABCs of Real Estate Investing not only teach you how to locate, assess, and buy property but also provide you with access to dependable property management tools.
#8. “Retire Rich With Rentals” by Kathy Fettke
Kathy Fettke, a real estate investor, gives an example of how to make money while you’re retired. In this book, you’ll learn how to build a portfolio worth $1,000,000 or more, how to easily manage rental properties, how to use little-known techniques to speed up retirement savings by delaying taxes, and why real estate is the best leveraged investment option.
#9. “Investing in Duplexes, Triplexes & Quads” by Larry B. Loftis
The author, lawyer and real estate investor Larry Loftis, draws on his own experience buying homes with more than one unit. Loftis gives both new and experienced investors a guide to investing that is risk-free, easy, and works well. This book explains how to lower risk, refinance to buy more properties, and buy duplexes, triplexes, and quads with little or no money down.
#10.“The Commercial Real Estate Investor’s Handbook: A Step-By-Step Road Map to Financial Wealth” by Steven D. Fisher
As implied by the title, the book provides a step-by-step guide for investing in commercial real estate. Fisher lays out the information in easy terms for prospective business investors. Build a budget and do property appraisals while acquiring, financing, and managing commercial real estate.
#11. “My Life & 1,000 Houses” by Mitch Stephen
To buy more than 1,000 flats, Mitch Stephen shared his life story and real estate investing career. Self-taught businessman Stephen experiences the highs and lows of tenacity and making the right decisions. The book takes readers step-by-step through a problem-solving procedure, one house at a time.
#12 “The Book on Estimating Rehab Costs” by J Scott
The cost of construction and renovation is thoroughly covered in this book’s “how to” section. Scott breaks down a property’s renovation into 25 components. The book’s spreadsheets and checklists help calculate component costs more accurately.
#13. “Building Wealth One House at a Time” by John Schaub
John Schaub, a real estate specialist, outlines his 9-step plan for increasing wealth through home purchases and generating consistent cash flow in this book. The fundamental concept is to comprehend real estate industry principles.
#14. “Shift: How Top Real Estate Agents Tackle Tough Times” by Gary Keller
Gary Keller’s book Shift discusses how real estate brokers may adapt to the changing housing market. Keller suggests 12 easy ways to increase market share in tough times. The book covers “Mastering the Market of the Moment,” cost reduction, and new financial solutions.
#15. “Trump: The Art of the Deal” by Donald Trump and Tony Schwartz
Trump’s management style for both his business and personal life is addressed in “The Art of the Deal.” Consider the following list of variables that typically affect his greatest triumphs as an example of his unusual thinking and “think big” philosophy. The book is fascinating and provides illustrations from actual scenarios, including contract negotiations, site selection, and negotiating with contractors. Trump speaks extensively about his background as a seasoned negotiator.
#16. “Every Landlord’s Legal Guide” by Marcia Stewart, Ralph Warner, & Janet Portman
This book essentially covers every legal problem a landlord can encounter. The topics covered include security deposits, evictions, and lease terminations, which are regular legal problems that landlords face. The book also covers other, less typical potential difficulties like landlord accountability, subletting requests, and amicably resolving disagreements.
#17. Brandon Turner’s “The Book on Rental Property Investing”
The second book by Brandon Turner, which is also one of the best books to read for aspiring real estate investors, takes third place. The inclusion of several best-selling real estate investing authors on this list, including the co-creator of The Bigger Pockets podcast, is no accident.
You can start generating passive income from real estate by using one of the four methods described in “The Book on Rental Property Investing.” The book covers a wide range of topics, including how to finance new investments, find deals, and postpone or evade taxes. You must read this if you want to start making investments in rental property.
#18. Frank Gallinelli’s essay “What Every Real Estate Investor Needs to Know About Cash Flow”
best books for beginning real estate investors. Cash flow estimates are necessary in order to get the most return on your real estate investments. Gallinelli emphasizes the numbers a lot in this book. Its emphasis on mathematics has led us to include it among our selection of the best books for beginning real estate investors. Gallinelli outlines how to use math to your advantage whether you feel it to be a strength or a challenge.
This book will show you how to use the key indicators to make informed investment decisions. You can turn into a true professional investor by mastering measures like return on equity, discounted cash flow, and net present value.
What Is the 2% Rule in Real Estate Investing?
The 2% rule is a general guideline for estimating the amount of rental income a property should, in theory, be able to provide. The 2% rule states that a rental property will have a positive cash flow if the monthly rent is at least 2% of the purchase price.
What Is the 1% Rule in Real Estate Investing?
The 1% rule of real estate investing compares the purchase price of the investment property to the expected gross income. A potential investment must have a monthly rent that is 1% of the purchase price or more to pass the 1% criterion.
What Is the 5% Rule in Real Estate Investing?
To determine the breakeven point, double the home’s worth by 5% and then divide the result by 12. Renting makes financial sense if the monthly rent for a comparable home is less than the breakeven point. It makes financial sense to buy if the monthly rent exceeds the breakeven point.
What Should I Study if I Want to Invest in Real Estate?
You could require a college degree in finance, economics, business administration, computer science, statistics, and mathematics to work as a real estate investor. You also need to comprehend the risks, be honest, promote recommendations, be informed, and, know the market.
Is 10K Enough to Invest in Real Estate?
The quick and easy response is “yes”! There are other ways to profit from real estate than buying and flipping houses, even though you might not be able to do it for that amount.
Is 100K Enough to Invest in Real Estate?
Investors with as little as $100,000 are encouraged to participate in the enormous financial opportunity that is real estate. An investor can use this money to buy a single property to rent out or sell. Smaller investors are able to purchase more expensive commercial or residential properties through crowdfunding or joint ventures.
References
- smartasset.com
- realwealth.com
Related Articles
- CARTOON NETWORK LOGO: The History of The Cartoon Network.
- Financial Freedom: A Detailed Guide to Help you Achieve it in 2023 (+ quick tips)
- FINANCIAL EDUCATION: Importance and How to Get Started (+ free courses)
- Top 12 steps to financial freedom in 2023(+financial freedom books)
- CORPORATE RECORD BOOK: Meaning, Importance & How to Get It
