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every type of property investor
2022 is here and you need to get started if it’s going to be the year you build your real estate empire! No other asset class has created as much wealth as real estate investing but you need to avoid the mistakes made by thousands of other investors.
I started my professional career in real
estate, as a commercial property analyst while in college. I instantly fell in
love with the idea of taking a property, developing it and turning it into a
cash flow machine.
After college, I started buying residential
rentals and managed my own properties for years. I’ve since worked as an
analyst on real estate investment trusts (REITs) and more recently started
investing in real estate crowdfunding.
I can honestly say, there has never been a
time when I wasn’t thinking about real estate investing or involved in some
way.
But I couldn’t have done any of it without
some of the real estate books you’ll find in this list.
There’s plenty of bad information on getting started in real estate investing. Turn on the TV any night after 1am and you won’t have to click far to find someone’s secret to real estate millions. I would say the secret to successful real estate investing is avoiding the scam strategies and hype while finding the best resources to actually know what you’re getting.
Even
if you can avoid the outright scams in real estate investing, building a
successful property business isn’t guaranteed. Your first couple of years,
before you’ve built the cash flow to withstand a recession, are the most
dangerous.
You’ll
find books in this list for every type of real estate investor. I’ve started
with a few real estate books for beginners but make sure you check out some of
the more advanced ideas as well.
If spending less than $50 on a few real estate books could save you
tens of thousands in bad deals…wouldn’t it be worth it?
Best Real Estate Books for Beginners
Starting off in property investing, you need a
guide that will cover the basic strategies as well as the headaches faced by
all would-be real estate moguls. That means reaching for a beginner’s book on
real estate where you might not get the most advanced approach but you’ll lay
the groundwork to be successful and avoid the biggest mistakes.
The Millionaire Real Estate Investor by Gary Keller
This is another super-detailed
reference guide for starting and managing your real estate investments. Beyond
the practical advice for being successful, the book includes real-life stories
of other real estate investors that helps make it more relatable.
Take it from someone that
struggled to find the best people for his real estate business, the section on
developing your real estate investing team is invaluable.
I’ve read quite a few of the
author’s books, not just in real estate investing but for business management
and entrepreneurship as well. He writes with a style that’s easy to follow and
keeps you interested to the last page.
The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss by Ken McElroy
Part of the Rich Dad Advisors
series, this one is shorter but gets right to it with practical advice for
investing in real estate. It’s a basic starter kit including finding properties
with real potential and negotiating for a better price.
Some good recommendations of
property management tools are worth the read to avoid some of the most common
headaches of real property investment.
Most of the books on this list focus on
traditional real estate investing but miss one of the best investment
opportunities I’ve seen in decades. Real estate crowdfunding is an hybrid approach
between direct investment and indirect property investment through a
partnership or REIT.
Best Real Estate Flipping Books
Popularity of flipping houses books comes and
goes with the real estate market. It’s a high-risk, high-return business where
you’ll make six-figures when times are good but can totally bust when the
market falls.
More than any other property investing
strategy, I’d say the knowledge you get in these books on flipping houses is
absolutely critical. You’ll not only learn how to find good deals and sell your
houses but the warning signs to get out before the market turns sour.
Flip: How to Find, Fix, and Sell Houses for Profit by Villani, Davis and Keller
This book is a great step-by-step guide for
flipping houses. Two of the authors run North America’s largest real estate
rehab franchise and the other is one of the most respected authors in property
investing. It’s like getting the blueprints for a house flipping franchise all
in one book.
The book takes you through the entire process
but the 50-step plan for fixing your flips is worth the price of the book
alone. I love how it goes into more detail in this hands-on part of flipping
instead of just covering the buying/selling like most flipping books.
The Book on Flipping Houses: How to Buy, Rehab and
Resell Residential Properties by J Scott
This book was written in a
partnership with the founders of BiggerPockets and is a great guide into one of
my favorite quick investment strategies. At 350 pages, you would expect a lot
of primer material but this book is all step-by-step into starting and running
your real estate flipping business.
House flipping isn’t for
everyone but if you can manage a more active real estate investment then there
is definitely an upside. This book covers it all from financing to the Flip
Formula and closing the sale.
Best Books on Buying Rental Property
Buying residential rental property is the most
popular form of real estate investment for Main Street investors but it comes
with its share of risks and headaches. Single-family houses were my first
investment out of college and I bought into all the hype of easy money and
passive income.
The truth to rental property is that it can be
a full-time job managing properties if you don’t know how to do it right.
Before you jump into this form of real estate investing, make sure you read a
few books on buying property and managing tenants.
The Book on Rental Property Investing: How to
Create Wealth and Passive Income by Brandon Turner
BiggerPockets
is arguably the most popular website on real estate investing. Brandon’s rental
property investing book is one of seven he has published covering different
strategies in real estate investment including The Ultimate Beginner’s Guide
and How to Rent Your House.
At
400 pages, it’s a start-to-finish guide on rental property investing from
finding properties and tenants to avoiding the mistakes that bankrupt so many
investors.
Build a Rental Property Empire: The No-nonsense Book on
Finding Deals and Getting Financing by Mark Ferguson
This is another long resource
guide for real estate investors at nearly 350 pages and one of the most
recently published. A realtor since 2001, Mark started investing in his own
rentals in 2010 and now owns 16 properties.
The book reads like a memoir of
his experience and everything he’s picked up along the way. I like the guide
for its focus on rental properties and deals as opposed to the more general
books on real estate investing.
Books about Real Estate Investing
Every investor should have real estate in
their portfolio. It’s almost a law of investing, getting that diversification
from stocks and bonds through property. Real estate not only offers the
inflation-protection of a real asset but also solid cash flow and returns.
Not everyone is cut out for direct investment
in property. That’s why I recommend crowdfunding and other indirect investments
like REITs. Investing in these structures gives you access to all the benefits
of real estate investing without the constant hassle and headache of direct ownership.
Investing in REITs: Real Estate Investment Trusts by Ralph Block (Bloomberg Book 141)
Reads like a text book but this
one will give you everything you need to know about REITs and how to invest. It
starts with a history of REITs and how they fit with real estate investment in
America.
The book isn’t as easy to read as many of the
others on the list and it can get technical at times but this is a must-read
for investors serious about picking REIT stocks. It’s going to show you the
difference between REITs and other types of stocks and detail exactly how to
value this investment. If you aren’t ready to read this book, just invest in a
REIT fund and forget about picking individual REITs.
The Intelligent REIT Investor: How to Build Wealth with Real Estate Investment Trusts by Krewson-Kelly and Thomas
This one is a little less technical and easier
to read than the Bloomberg REIT book but leaves out some of the detail. It’s
still packed with solid information on investing in REITs and what to look for
when putting your money on the line.
One of the things I liked about this book is
the dual perspective from the authors. One is a financial journalist covering real
estate and REITs while the other works in the industry as an executive and former
analyst. Together, you get different viewpoints on what to look for in REITs
and how to invest.
Real Estate Biography Books
I love non-fiction reading but
sometimes it can get so dry that you never end up finishing the book. I like to
turn to biographies of successful people for a more entertaining read that can
teach me something as well. Property is one of the oldest investments and has
created some legendary real estate investors to show you the ropes.
Not only can you learn a little
from these famous real estate investors but the books are a source of
inspiration for new investors. With creative financing, there’s no other
investment that you can use to turn so little into so much!
Shark Tales: How I Turned $1,000 into a Billion Dollar
Business by Barbara Corcoran
Shark Tank star Corcoran made
her billions in real estate, starting with a small office in New York City. The
book isn’t quite as focused on her real estate business as it is a motivational
tale of rags to riches but it will keep you turning the pages. The book is
filled with business and life lessons that everyone eventually faces, sometimes
the hard way, and is a great road map to success.
Losing My Virginity: How I’ve Survived, Had Fun and Made a Fortune Doing Business My Way by Richard Branson
This one isn’t a real estate book but easily
one of my favorite business biographies. Did you know, before he became a
billionaire, Branson ran his own student newspaper for nearly a decade. So many
lessons in this book about running a business, being successful and how to do
it on your terms!
I’m
always surprised hearing how many new real estate investors choose to start in
the asset class with little more than a couple weeks’ of thinking about it. It
usually means making the same mistakes thousands of other investors have
already made many times before.
Do yourself a favor and give yourself at least six months to learn through books on investing in real estate. Learn how to be successful and some of the mistakes others have made before jumping in with your own money.
Real estate investing isn’t just a get-rich-quick strategy but should be a critical piece of everyone’s investing strategy. You can get indirect exposure through real estate investment trusts for diversification from stocks and bonds. Investors reaching for higher returns should check out some of these real estate investing books and a more direct route in 2022 and beyond.
Don’t Miss these other Investing Books and Resources!
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