Table of Contents Hide
- 15 Best Real Estate Investment Books in 2023
- #1. The Richest person in Babylon
- #2. The Compound Effect
- #3. Habits of High Performance
- #4. Rich Dad’s Guide to Investing
- #5. How to Create Wealth and Passive Income Through Smart Buy & Hold Real Estate
- #6. The Multifamily Millionaire, Volume I
- #7. Tax Strategies for the Savvy Real Estate Investor
- #8. Investment in Real Estate with No (and Low) Money Down
- #9. The Ultimate Beginner’s Guide to Getting Started
- #11. Managing Rental Properties
- #12.The BRRRR Rental Property Investment Strategy
- #13. Long-Distance Real Estate Investment
- #14. The Secrets of Finding Hidden Profits
- #15. A Proven System for Finding, Screening, and Managing Tenants
- What is the 2% Rule in Real Estate Investing?
- What is the 4% Rule in Real Estate Investment?
- What is the 10% Rule in Real Estate Investing?
- What does the 50% rule mean when investing in real estate?
- What is the 80% Rule in Real Estate Investing?
- What is the 95% Rule in Real Estate Investment?
- What is the 48-Hour Rule in Real Estate Investment?
- Related Articles
Choosing the best real estate investing books can be challenging and time-consuming because there are so many available. Therefore, by analyzing dozens of books from reputable industry experts, we’ve already done the legwork for you. This article contains a list of the top 15 books that will guide you through every step of your rental real estate investment, from discovering properties and tenants to taking care of financing and taxes.
Investing in rental properties can be a lucrative strategy to diversify your holdings, make passive income, and amass wealth. But it’s neither simple nor fast.
Education is a crucial step in the process, regardless of your level of expertise as a real estate investor. After all, the more information you have, the simpler it will be to acquire the necessary abilities, hone your plan, and achieve success. Additionally, consulting experts is a fantastic approach to learning.
15 Best Real Estate Investment Books in 2023
#1. The Richest person in Babylon
But The Richest Man in Babylon is my top choice. Once more, I’m referring to the original edition rather than the modified or modernized version for the twenty-first century. the original text, please. Based on Babylonian parables, The Richest Man in Babylon has been hailed as the greatest inspirational work on the subject of frugality and money management, as well as personal wealth in straightforward language. These fascinating and educational stories in the book put you on a sure path to prosperity and its accompanying joy.
#2. The Compound Effect
In fact, this work was written in 1926. Thus, it is quite far back. It predates Napoleon Hill’s Think and Grows Rich by quite a bit. Now let’s move forward to the 21st century and the next book, The Compound Effect: Jumpstart Your Income, Your Life, Your Success by Darren Hardy, which I’m sure many of you are acquainted with but probably most of you are not.
#3. Habits of High Performance
Brendon Burchard, a guest I had on the show not too long ago—I believe it was around a year or a year and a half ago—is the author of the third book I’ve chosen. awesome man Our interview lasted so long, in fact. Therefore, you might search for that episode. And I think the title of it—which also happened to be the name of the book he wrote—was High-Performance Habits.
#4. Rich Dad’s Guide to Investing
It won’t come as a surprise. In the Rich Dad series, in actuality. These books complement one another effectively. What the Rich Invest in, That the Poor and the Middle-Class Do Not is the third book in the series. So it stands to reason that different people’s definitions of investing will vary.
#5. How to Create Wealth and Passive Income Through Smart Buy & Hold Real Estate
One of the most well-known books on real estate investing, it offers a thorough overview of the steps you must take to succeed, from assembling your team of experts (including CPAs, lawyers, and contractors) and choosing the best locations to successfully managing your properties and having an exit strategy.
#6. The Multifamily Millionaire, Volume I
For investors wishing to expand beyond single-family homes and into tiny multi-unit investing, this book is a need.
Then, they get down to business by managing your finances and making sure you earn fair returns. Additionally, it covers every aspect of managing a multifamily property, which can differ from managing a single-family home.
#7. Tax Strategies for the Savvy Real Estate Investor
Amanda Han and Matthew MacFarland, both certified public accountants (CPAs) and real estate investors provide the background you need prior to starting by offering firsthand knowledge and advice on how real estate and investing taxes work.
The intended audience for this 2020 tax guideline is beginning real estate investors, but intermediate investors can also benefit from it. Han and MacFarland simplify complex tax regulations with examples from everyday life, making it simple for readers with no prior knowledge of real estate, investing, or finance to comprehend tax laws and come to financially advantageous judgments.
#8. Investment in Real Estate with No (and Low) Money Down
Financing is one of the major challenges that real estate investors encounter. In its second edition, Brandon Turner’s book 2020 explores a variety of possibilities, from the apparent to the obscure, including FHA loans, home equity lines of credit (HELOCs), partnerships, private capital, hard capital, seller financing, leasing options, wholesaling, and syndication. Naturally, investors frequently use a variety of financing options, and the “Creative Combinations” chapter stresses that you can combine different strategies to meet your deal or property.
#9. The Ultimate Beginner’s Guide to Getting Started
This is an excellent place to start if you know very little about real estate but want to learn more before putting your toe into the world of real estate investing.
The book begins by dispelling some common myths and queries that you might have (real estate is not a means to “get rich quick,” no). It also offers a useful summary of the many real estate investing strategies that are available and are jam-packed with excellent information to give you a sense of how this world operates and what you’ll need to do to succeed in it.
#11. Managing Rental Properties
The 2015 book by Heather and Brandon Turner concentrates on the management side of residential rentals and offers lots of helpful tips on how to be a successful landlord. The book delves into subjects like lease agreements, tenant screening, advertising your vacancy, and fair housing. Additionally, it addresses hiring and managing contractors, managing tenants, and handling issues like repairs and bounced rent payments through abandonment and eviction.
#12.The BRRRR Rental Property Investment Strategy
You can get there with the help of the wealth of knowledge in this book about the BRRRR technique.
The BRRRR strategy could sound a little scary if you’re still relatively fresh to the world of real estate investing. However, Greene’s book demonstrates how to boost your investing approach in achievable steps and covers all the details in simple terms.
#13. Long-Distance Real Estate Investment
Real estate can be a great method to accumulate wealth, but what if you reside in a location where investing is not financially advantageous? However, due to changes in regulations, technology, and markets, investors can now search a wider geographic area for investments.
The book “The ABCs of Real Estate Investing” isn’t as much of a step-by-step guide as some of the other books on this list, but it’s packed with real estate investing knowledge and advice that makes it a great read for people who already have some experience and are looking to move into investing in larger multi-unit properties.
#15. A Proven System for Finding, Screening, and Managing Tenants
and Maximum Profits by Heather Turner and Brandon Turner is the best resource for first-time owners.
Despite the fact that many of the books on our list contain chapters on managing your investments, the reality is that property management can be a completely different animal. This book gives a wonderful summary of how to be a successful landlord if you want to understand the tricks of the trade.
What is the 2% Rule in Real Estate Investing?
The 2% rule is identical to the 1% rule; a different number is used instead. According to the “2% rule,” an investment property’s monthly rent should be 2% of the purchase price or more.
Here is an illustration of the 2% rule for a house with a $150,000 purchase price: $150,000 x 0.02 = $3,000. In accordance with the 2% guideline, you must locate a mortgage with a monthly payment of $3,000 or less, and you must set a minimum monthly rent of $3,000 for your tenants.
As you can see, the 2% rule (essentially doubling the monthly rent) is more extreme than the 1% rule, but it can still be effective in some markets and offer a financial safety net in case you have trouble filling vacancies or need to make a significant, expensive repair to the property.
What is the 4% Rule in Real Estate Investment?
According to the “4% rule,” you should be able to comfortably withdraw 4% of your assets each year when you reach retirement age, and your money should still be there after 30 years. This is based on a number of assumptions, including historical inflation rates of 3%, returns on stocks of 7%, bonds of 4%, and a 50/50 allocation between stocks and bonds.
What is the 10% Rule in Real Estate Investing?
There are actually three rules that make up the 10% rule. An excellent strategy to help quickly and easily weed out potential bad transactions is to keep a set of straightforward rules in your back pocket.
What does the 50% rule mean when investing in real estate?
According to the “50 rule” in real estate, a rental property should allocate half of its gross income to operational costs in order to be profitable.
What is the 80% Rule in Real Estate Investing?
How is it feasible to get 80% of the results you want with only 20% of the work you’re currently putting into practice? You’ve probably heard the adage “work smarter, not harder,” so let me explain. This situation makes use of the same principle.
What is the 95% Rule in Real Estate Investment?
Without regard to valuation, the 95% Rule enables investors to identify an infinite number of prospective replacement properties—as long as they actually purchase 95% of the total identified value throughout the exchange time. As an illustration, if an investor sells their Relinquished Property for $1,000,000, they may be able to identify 10 properties for a total of $5,000,000, providing they actually buy at least $4,750,000 of the identified value.
What is the 48-Hour Rule in Real Estate Investment?
The 48-hour regulation stipulates that sellers of mortgage-backed securities (MBS) with to-be-announced (TBA) pool information must inform buyers of the MBS by 3 p.m. Eastern Time, 48 hours before the trade’s settlement date. This regulation is enforced by the Securities Industry and Financial Markets Association (SIFMA). The Public Securities Association and Bond Market Association were the previous names for SIFMA.
Want to diversify the investments in your portfolio? Your greatest option might be investing in real estate. We’ve got you covered with our selections for the finest real estate investing books, whether you want to invest in residential or commercial real estate, short- or long-term rentals, or even commercial real estate.
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