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Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: arebelspy on December 19, 2013, 08:21:48 AM

Title: Real Estate Book Recommendations
Post by: arebelspy on December 19, 2013, 08:21:48 AM
Real Estate Book Recommendations

Building Wealth One House at a Time by John Schaub (http://www.amazon.com/Building-Wealth-One-House-Time/dp/0071448357) - This is the first book I personally recommend to someone brand new to investing.  It's a very easy read and good for overarching concepts without getting bogged down in the technical details that often slow down beginners.  There are some caveats to that book (I think his appreciation assumptions are unrealistic, which is the biggest flaw, IMO), but overall it's a solid place to start to wrap your head around the various concepts.

After that you will need to decide what you what to do in Real Estate to decide what path to start researching.

There's real estate books for every topic under the sun.  Someone wanting to landlord versus rehab versus wholesale versus focus on SFRs versus commercial versus mobile homes versus mobile home parks versus storage units, etc. etc. etc. should all be focused on different things.  So what are you looking to do?

Figure out what niche you want to focus on, and then target some good books in that area.

That being said, here's a few recommendations of some more "generic" books that may help you in the more common real estate pursuits.

Investing in Real Estate by McLean & Eldred (http://www.amazon.com/Investing-Real-Estate-Gary-Eldred/dp/1118172973) is a good general knowledge book.

2 Years to a Million in Real Estate by Martinez (http://www.amazon.com/2-Years-Million-Real-Estate/dp/0071471871) and The Weekend Millionaire's Secrets to Investing in Real Estate by Summey and Dawson (http://www.amazon.com/Weekend-Millionaires-Secrets-Investing-Estate/dp/0071412913) are both decent books (both give fairly generic advice, but good to reinforce the concepts to make sure your head is fully wrapped around them).

What Every Real Estate Investor Needs to Know About Cash Flow... And 36 Other Key Financial Measures by Gallinelli (http://www.amazon.com/Every-Estate-Investor-Financial-Measures/dp/0071603271) is a good book with lots of formulas if you're into the math part of deal analysis.  Read a mini-review of Gallinelli's Cash Flow book by forum member grantmeaname right here (http://www.mrmoneymustache.com/forum/mustachian-book-club/mini-review-what-every-real-estate-investor-needs-to-know-about-cash-flow/).

The Unofficial Guide to Managing Rental Properties by M. Prandi (http://www.amazon.com/Unofficial-Guide-Managing-Rental-Property/dp/0764578189) is great.  Lots of gems in it.  I actually had it in PDF and loved it so much I bought a physical copy for my bookshelf.

Landlording: A Handymanual for Scrupulous Landlords and Landladies Who Do It Themselves by Leigh Robinson (http://www.amazon.com/Landlording-Handymanual-Scrupulous-Landladies-Themselves/dp/0932956335/) is a useful guide for someone landlording their own properties.  It's fairly large, and better used as a reference manual than read straight through.

Many (all?) of those you should be able to find used (on Amazon, for example).

Other recommended reading: BiggerPockets.com (http://www.biggerpockets.com) - their Blog (http://www.biggerpockets.com/renewsblog/) and Podcast (https://itunes.apple.com/us/podcast/biggerpockets-podcast-real/id594419649) are both quite informative, and their forums (http://www.biggerpockets.com/forums) can be a good source of quick information as well.

Rich Dad, Poor Dad is often cited by real estate investors as an inspiration source, but I'm not even bothering to link to it for a number of reasons.  In any event, it doesn't have much in the way of real estate investing, beyond "you should do it" instead of buying liabilities.

And, of course, experience is the best teacher, so you'll learn by actually getting out there and doing it.  But since a book is much quicker to do than a real estate deal, get as much knowledge into your head as you can - without succumbing to analysis paralysis - before you do so.

If you are thinking about going in a certain direction with your real estate investing, and want a specific book recommendation, please PM me and I'll let you know, and add it to this thread.

If you have any of your own books to recommend that have not been mentioned yet, feel free to post them, with a short description. If you just want to discuss these books, please do so over in the Real Estate Book Recommendations Discussion Thread (http://forum.mrmoneymustache.com/real-estate-and-landlording/real-estate-book-recommendations-discussion-thread/).

[MODERATOR NOTE:] Posts in this thread that are not direct recommendations of a new book not yet listed(e.g. a post saying "Thanks!" or "I read X book - already recommended - and it's good") will be ruthlessly deleted pruned in order to keep this thread "clean" to use as a resource.  If you want to discuss the books in this thread, or ask questions, please use this thread: Real Estate Book Recommendations Discussion Thread (http://forum.mrmoneymustache.com/real-estate-and-landlording/real-estate-book-recommendations-discussion-thread/). Please don't use any affiliate links in this thread. [/END MODERATOR NOTE]
Title: Re: Real Estate Book Recommendations
Post by: BrandonatBP on January 02, 2014, 05:25:47 PM
I'm a huge fan of:

1.) Landlording on AutoPilot by Mike Butler
2.) The Unofficial Guide to Real Estate Investing by Spencer Strauss
3.) Investing in Duplexes, Triplexes, and Quads: The Fastest and Safest Way to Real Estate Wealth by Larry B. Loftis
4.) The Book on Flipping Houses and The Book on Estimating Rehab Costs by J Scott
5.) The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss (Rich Dad Advisors) by Ken McElroy
6.) How I Turned $1,000 into Five Million in Real Estate in My Spare Time by William Nickerson
7.) How to Manage Residential Property for Maximum Cash Flow and Resale Value by John T. Reed

When I got started with Real Estate Investing, I spent hours at the library reading every book in their system, and these (along with the ones listed above in this thread) are my favorite.
Title: Re: Real Estate Book Recommendations
Post by: amha on February 04, 2014, 09:59:33 AM
This isn't a book anyone will have heard of, but you should all read CREATING AN INDEPENDENT INCOME IN REAL ESTATE (http://www.amazon.com/Creating-Independent-Income-Real-Estate/dp/1462045960 (http://www.amazon.com/Creating-Independent-Income-Real-Estate/dp/1462045960))

I picked it up on a lark a few months ago, because I've met the author a couple of times. He's a guy who moved to my hometown (a small college town in upstate New York) to teach film theory; when that didn't pay the bills, he started supplementing by fixing up slumlord-owned houses and renting them out... forty years later, he's the biggest real estate owner/developer in town.

But what makes the book good is not the how-to details but just the overwhelming sense of OPTIMISM that pervades the book. It's very Mustachian! He tells all these stories about being surrounded by Complainypantses (to use the Mustachian diction), and showing them the light. He's a great storyteller. (I've been thinking abut doing a longer post recommending the book, but that will have to wait.)

(For disclosure, I'll repeat that I've met the guy a few times, but really---he's always just struck me as a 70-year-old MMM.)
Title: Re: Real Estate Book Recommendations
Post by: DarioEM on February 28, 2014, 05:09:07 AM
Real Estate Riches by Dolf de Roos

I keep a list of "books I need to read" on my phone and have added the ones above that I haven't read.
Thank you.
Title: Re: Real Estate Book Recommendations
Post by: dan@themadrealworld on April 17, 2014, 02:05:51 PM
I would second the "Investing in Real Estate" book by Gary Eldred.  That is probably my favorite and the most detailed of the many real estate books I have read.  That is probably the best book for the basics and then it is important to get out there and get some experience.  Most of the other books all say the same thing pretty much.  I learned so much once I got into RE investing on my own that was never mentioned in the books.

I know why some people dislike the "Rich Dad, Poor Dad" book but I still think it is a good book to read when you are just getting started in trying to achieve financial independence.  That book really changed my thinking.
Title: Re: Real Estate Book Recommendations
Post by: rebel100 on May 02, 2014, 02:16:15 PM
I really appreciated the comprehensive nature of "The Millionaire Real Estate Investor" by Gary Keller (of Keller-Williams Real Estate fame).  Perhaps the single best book I've read on the subject...and I've read a bunch.
Title: Re: Real Estate Book Recommendations
Post by: usmarine1975 on July 02, 2014, 10:27:38 AM
I have been a landlord for 14 years.  And for me it has worked well with some lessons along the way.  I am a 3rd generation landlord as well.  I found this book to be an interesting and quick read and would recommend it to anyone considering becoming  landlord or real estate investor.  Not to talk you out of becoming one but to share with you that it's not all roses.  It does actually take some work and some effort to become successful.  Some get lucky but most have to work at it.

Why I don't invest in Real Estate written by Brian K. Fulmer
Title: Re: Real Estate Book Recommendations
Post by: cshaw on February 21, 2015, 11:51:17 PM
Just started HOLD: How to Find, Buy, and Rent Houses for Wealth by Steve Chader, Jennice Doty, Jim McKissack, Linda McKissack, Jay Papasan , and Gary Keller (http://www.amazon.com/HOLD-Find-Rent-Houses-Wealth/dp/0071797041)

Apparently this is the final book in Gary Kellerís Millionaire Real Estate Investor trilogy. 

Iím enjoying this book so should probably go back and read the first two.
Title: Re: Real Estate Book Recommendations
Post by: bruce88 on April 13, 2015, 01:22:36 AM
For advanced reading, after buying a property or two, try The Millionaire Real Estate Investor, by Gary Keller (co-owner, Keller Williams Realty).  The book is based on interviews with Realtors who own residential rentals.  Tons of good info, and interesting ideas.
 
As a real estate broker, and rental investor (30 years), I was really impressed by the number of topics and ideas.  I always think it is fascinating to pick the brains of other RE investors.  No "professor type theories"-just thoughts from the trenches.  (I have read about 30 books in RE investing, and this is my favorite.)

Great bargain, too.  I find copies cheap at thrift stores ($1-$2), and pass them along to friends and family.  Also, often available on ebay for $10 or less.
Title: Re: Real Estate Book Recommendations
Post by: TheGrimSqueaker on April 14, 2015, 10:08:46 PM
Real Estate Riches by Dolf de Roos

I keep a list of "books I need to read" on my phone and have added the ones above that I haven't read.
Thank you.

I read the de Roos book and panned it on Amazon.  It's a rah-rah book of the worst possible sort, and gives no practical advice whatsoever.

You'd be far better off with anything by John T. Reed.  In fact, if you go to his Web site and surf around, you'll find a whole bunch of free information that is more than worth the time you take to go through it.  This guy actually puts his money where his mouth is.  I met him at a conference once, and while his ideas about gold and hyperinflation are a bit extreme, he knows what he's talking about when it comes to investment real estate.
Title: Re: Real Estate Book Recommendations
Post by: jengod on April 29, 2015, 10:02:44 PM
Thanks for this list, Mustachians. My parents have done real estate for my whole life but I'm not sure I picked up much along the way. We may be in a position to buy a rental in a few years and this is just the preparatory reading list I've been looking for.
Title: Re: Real Estate Book Recommendations
Post by: RyFI on July 09, 2015, 10:31:58 PM
Equity Happens by Helms & Gray
http://www.amazon.com/Equity-Happens-Building-Lifelong-Wealth/dp/0977488705

I just retired from traditional employment at age 31, largely thanks to this book.  Comparatively expensive but worth it IMO.
Title: Re: Real Estate Book Recommendations
Post by: adamcollin on July 22, 2015, 03:34:15 AM
To start with, I would suggest you - Your First Year in Real Estate by Dirk Zeller.

Make sure that any REI book you choose should not be an old edition.
Title: Re: Real Estate Book Recommendations
Post by: andyp2010 on November 02, 2015, 09:56:30 PM
Further to the Dolf De Roos suggestion

'101 Ways to Massively Increase the Value of Your Real Estate without Spending Much Money' - Renovated all my rental houses roughly to these guidelines so far. No Helipads yet though!

Any of the 'No money down' series by Robert Allen are great for getting around the mental gymnastics of creative finance. Needs to be read about 20 times before being fully understood but unbelievably useful once you do.

And 'The Rascals Guide to Real Estate' by Olly Newland. It's the really nitty gritty aspects of actually doing the deals, keeping the tenants and understanding the nature of the beast as a whole. None of that space and time wasting boasting you get in most RE books, very down to earth.
Title: Re: Real Estate Book Recommendations
Post by: gardenarian on April 23, 2016, 05:27:53 PM
All the Nolo Press real estate books are excellent.
Title: Re: Real Estate Book Recommendations
Post by: SwordGuy on September 30, 2016, 06:38:47 PM
I really like this book.  It really goes into how to work the numbers:

https://www.amazon.com/Estate-Investor-Financial-Measures-Updated/dp/1259586189/ref=sr_1_3?ie=UTF8&qid=1475279778&sr=8-3&keywords=gallinelli+books (https://www.amazon.com/Estate-Investor-Financial-Measures-Updated/dp/1259586189/ref=sr_1_3?ie=UTF8&qid=1475279778&sr=8-3&keywords=gallinelli+books)
Title: Re: Real Estate Book Recommendations
Post by: snacky on November 29, 2016, 12:10:15 AM
Apologies if I missed it somewhere upthread, but can anyone recommend a landording book for Canadians? We have some different laws, of course, and the tax implications are different here. Anyone have a book to suggest?
Title: Re: Real Estate Book Recommendations
Post by: SeattleCPA on December 23, 2016, 06:12:12 AM
Marc Andersen's Retire Rich from Real Estate is my favorite real estate investing book.

FWIW, over the years, I think I've probably read dozens and dozens real estate investing books (because I try to keep up with the stuff my real estate clients are reading and asking questions about).

Andersen's book, BTW, is very data rich. His was the first book I saw, for example, the discussed the Census Bureau's data about direct real estate investment... and how you can use this information to make better investment and management decisions.
Title: Re: Real Estate Book Recommendations
Post by: Mr Mark on January 29, 2017, 12:14:26 AM
This new Bigger Pockets book on tax strategies for rental investors is great - easy reading, clear examples and case studies - by 2 CPAs. Already looking at how to restructure my rental affairs for better tax minimisation. For $10 (and that would be deductable too) I think it's a bargain even if you are 100% positive you are already minimising your taxes.

The Book on Tax Strategies for the Savvy Real Estate Investor: Powerful techniques anyone can use to deduct more, invest smarter, and pay far less to the IRS.  Kindle Edition  by Amanda Han (Author),    Matthew MacFarland (Author)

https://www.amazon.com/Book-Strategies-Savvy-Estate-Investor-ebook/dp/B01BWDHLTQ (https://www.amazon.com/Book-Strategies-Savvy-Estate-Investor-ebook/dp/B01BWDHLTQ)
Title: Re: Real Estate Book Recommendations
Post by: estunner on March 07, 2017, 12:52:35 PM
Any book recommended for UK Real Estate ?
Title: Re: Real Estate Book Recommendations
Post by: adamcollin on April 25, 2017, 11:57:30 PM
Added these books into my reading list. Thanks for sharing.
Title: Re: Real Estate Book Recommendations
Post by: aalferez on June 08, 2017, 02:33:05 PM
Does anyone have any of this books in a digital format?
Thank you
Title: Re: Real Estate Book Recommendations
Post by: adamcollin on September 18, 2017, 09:34:43 AM
E-books are also available online.
Title: Re: Real Estate Book Recommendations
Post by: joer1212 on September 27, 2017, 12:07:02 PM
I'm sorry, but I've recently read Building Wealth One House at a Time by John Schaub, and, as a beginner, I'm still totally lost on how to get started in this business.
The problem is that the author assumes you already have some basic knowledge about real estate investing, and he devotes the entire book to explaining how to locate properties and make offers. This is like teaching algebra to a first-grader, who hasn't even learned basic arithmetic yet.
I need a book that details every aspect of this business, from A to Z, including whom to contact first, what to say, and the standard procedures involved in purchasing a house (including all required paperwork, inspections, and anything else I never thought of).
Can someone recommend a book like that?
Title: Re: Real Estate Book Recommendations
Post by: dutty on October 15, 2017, 11:51:24 AM
Yeah I would also love some UK specific recommendations.
Title: Re: Real Estate Book Recommendations
Post by: krishnaparthu on December 23, 2017, 03:54:22 AM
Great collection of investment books.
Title: Re: Real Estate Book Recommendations
Post by: weston on April 13, 2018, 08:43:51 AM
I'm sorry, but I've recently read Building Wealth One House at a Time by John Schaub, and, as a beginner, I'm still totally lost on how to get started in this business.


I haven't read Mr. Schaub's book but I did hear his interview on the Radical Personal Finance Podcast where he expressed a legal opinion that was so clearly unsupportable I had to send a follow up question to the podcast website asking for clarification. His response was even worse. I decided to pass on that quality of advice.
Title: Re: Real Estate Book Recommendations
Post by: brian.ellwood on September 19, 2018, 06:13:30 PM
Wow, great post...thanks!

The Millionaire Real Estate Investor by Gary Keller

Rich Dad Poor Dad by Robert Kiyosaki

Those were the two that really got my butt in gear.
Title: Re: Real Estate Book Recommendations
Post by: stevensdler on December 07, 2018, 10:35:40 AM
Gonna get some of them, Thanks for the recommendations!