10 Books All Real Estate Investors Should Read
Editor’s Note: This post was originally published in August 2018 and has been completely revamped and updated for accuracy and comprehensiveness.
Real estate investing is an exciting and lucrative field but also a complex and dynamic one. It's an ever-evolving field with new trends, strategies, and emerging technologies. It's essential for success as a real estate investor never to stop learning.
Keeping up to date with the latest industry developments is key. The same is true for both new and experienced investors.
Don't know where to look for the best books on real estate investing? We've got you! Read on for ten highly acclaimed best-sellers (in no particular order).
#1 – The Millionaire Real Estate Investor
Written by Gary Keller, Dave Jenks, and Jay Papasan
If you're serious about building wealth through real estate investing, we highly recommend checking out "The Millionaire Real Estate Investor." It's a guidebook written by experienced investors and industry leaders.
The book is divided into three sections: Think a Million, Buy a Million, and Own a Million. In the first section, you'll learn about the mindset and habits of successful investors, such as setting goals and forming a team. The authors also discuss different types of properties, financing options, negotiation strategies, and due diligence.
The second section covers finding and evaluating investment opportunities, deal structuring, and developing a network of industry professionals. And finally, the book offers advice on managing and growing your real estate portfolio, including property management, developing systems and processes, and reinvesting profits.
The best part is that the book uses real-world examples and case studies to illustrate the authors' points. Plus, there are helpful charts, checklists, and worksheets to assist you in applying the concepts to your own investing journey.
This book is packed with practical advice, tips, and strategies to help you build wealth through real estate investing.
#2 – The Book on Rental Property Investing
Written by Brandon Turner
From finding the right properties to managing tenants and scaling your portfolio — this book covers everything you need to know about rental property investing.
The book is divided into four parts. In the first part, you'll learn about the fundamentals of rental property investing, like understanding the market and building a team. Part two focuses on finding and analyzing properties, while part three covers the specifics of renting out properties.
The fourth and final part of the book offers advanced strategies for maximizing your profits, including scaling your portfolio and optimizing your rental income. Turner stresses the importance of having a long-term plan for rental property investment and offers practical advice and real-world examples to help you reach your financial goals.
Whether you're a seasoned investor or a beginner, this book is a valuable resource for anyone looking to build wealth through rental properties.
#3 – Rich Dad Poor Dad
Written by Robert Kiyosaki
Ready to think like a successful investor and build wealth through real estate and other assets? This is the book for you.
Kiyosaki bases the narrative on personal experiences and shares the differences between the financial mindsets of his two fathers — his biological father and his best friend's father — to teach readers how to think like a successful investor.
Kiyosaki encourages readers to shift their mindset from being employees to being investors and business owners. The book emphasizes the importance of financial literacy, assets versus liabilities, and cash flow. It also argues that the traditional path of working hard and saving money is flawed and, instead, advises people to focus on building a passive income through investments and entrepreneurship.
Throughout the book, Kiyosaki provides practical advice on improving one's financial situation, taking risks, and learning from failures. He also stresses the importance of having a solid support network.
If you want to learn how to create wealth and achieve financial freedom, this book is worth reading!
#4 – The ABCs of Real Estate Investing
Written by Ken McElroy
This book is a straightforward and practical guide to real estate investing. It covers everything from the basics to specific investment strategies and offers practical advice on how to get started.
In "The ABCs," McElroy delves deeper into specific real estate investment strategies, starting with "A" for "analyzing deals," and continuing through the alphabet with chapters on topics such as "B" for "buying and holding," "F" for "financing," and "R" for "risk management."
McElroy emphasizes the importance of financial literacy and due diligence in making wise investment decisions. He provides helpful examples and case studies to illustrate his points and stresses the need for patience and a long-term investment perspective to build lasting wealth through real estate.
#5 –The Real Book of Real Estate
Written by Robert Kiyosaki
Looking to build wealth through real estate investing? This book has got you covered. Whether you're a beginner or an experienced investor, Kiyosaki offers practical advice on every aspect of real estate investing.
From understanding market cycles to forming a successful investment team, he shares his own experiences and offers strategies for achieving financial independence through real estate. He also emphasizes the importance of financial education and creating a clear plan to reach your financial goals.
With tips for minimizing taxes and maximizing cash flow, this comprehensive guide is a must-read for anyone looking to build wealth through real estate.
#6 – Real Estate Investing for Dummies
Written by Eric Tyson and Robert S. Griswold
This book is an excellent guide for anyone who wants to invest in real estate, whether you're a beginner or an experienced investor. It covers everything you need to know, from the different types of real estate investments to financing, evaluating potential returns, and managing cash flow.
Tyson and Griswald also provide Practical tips on:
- Finding properties
- Negotiating deals
- Creating a long-term investment strategy
This must-read even covers the legal and regulatory aspects of real estate investing, making it a comprehensive resource for anyone looking to build a profitable real estate portfolio.
#7 – The E-Myth Real Estate Investor
Written by Michael E. Gerber and Than Merrill
Looking to build a lucrative real estate investing business? Then you should check out this book. It covers the key components of a successful business plan, including market research, financing, branding, and marketing strategies.
Gerber and Merrill also highlight the importance of having a team of professionals. They also provide practical advice, case studies, and stories of successful real estate investors.
This book emphasizes the significance of having a well-thought-out plan and goal and using both successes and failures to refine and improve your investment strategy. The E-Myth perspective is introduced, which focuses on building a business instead of just buying properties.
#8 – Real Estate Wealth Hacking: How to 10x Your Net Worth in 18 Months
Written by Philip Michael Shange
This book provides actionable strategies for real estate investing to increase your net worth. The author shares his experience and explains wealth hacking, which involves using strategic investments to grow your net worth quickly.
Shange emphasizes the importance of having the right mindset, taking risks, and continually learning. It also offers practical advice on finding and financing profitable deals and provides advanced strategies for scaling up and maximizing returns. He inspires readers to take action to achieve significant results.
#9 – Every Landlord's Legal Guide
Written by Marcia Stewart
If you're a landlord or thinking about becoming one, this book is a must-read. It's packed with practical advice on everything you need to know about owning and managing rental properties, from tenant screening to eviction procedures.
You'll also get legal guidance on fair housing laws, security deposits, and property maintenance. The author provides helpful tips, sample forms, and sample letters to make applying the information to your situation easy.
Whether you're a new or experienced landlord, this book will help you manage your properties effectively and legally.
#10 – Real Estate Investing Gone Bad
Written by Phil Pustejovsky
This book is a cautionary tale that provides valuable lessons on real estate investing mistakes and how to avoid them. It covers common pitfalls and strategies for recovering from losses and building a successful portfolio.
Pustejovsky emphasizes the importance of education and research in real estate investing and offers practical advice on handling difficult situations such as dealing with difficult tenants, unexpected expenses, and market fluctuations.
This is an excellent resource for anyone interested in real estate investing, as it helps you to learn from others' mistakes and to recover from your own.
Final thoughts
Real estate investing is a constantly evolving field, and investors who never stop learning are more likely to be successful. By staying up-to-date on industry developments, expanding your knowledge, improving your skills, adapting to new technologies, and enhancing your network, you can stay ahead of the curve and capitalize on emerging opportunities.
So, keep learning, keep growing, and keep investing!