BackA great number of wealthy people around the world have at some point invested in real estate. Similar to stock-trading, real estate is a dynamic and evolving marketplace; requiring one to have deep knowledge and insights of the various driving forces of the market. But if you are just starting out and need a headstart, it is a good idea to read up what seasoned realtors have to say about this lucrative market. In this blog, we take a look at six of the most important real estate books that have stood the test of time and will be beneficial for aspiring investors.
1. The ABCS Of Real Estate Investing
As the title suggests, ABCs of Real Investing by Ken McElroy is a great starting point for anyone looking to make real estate their primary source of income. Considered by many to be the bible of real estate investing, the book explains the basics of investing in a property, renovating it, using it as a rental vehicle, and utilizing property management tools to stay ahead of the curve. McElroy has a strong reputation for guiding young and upcoming realtors, and has extensive experience of more than 25 years in multi-family asset and real estate management. One of the highlights of the book is how intermediate and advanced level concepts are broken down into simple and easy to understand principles with lots of real life scenarios.
2. The Millionaire Real Estate Investor
The road to making millions in the luxury real estate segment is a long and tough one; but this book by Gary Keller gives you a roadmap of what to do in order to bank millions. What’s special about The Millionaire Real Estate Investor is that the author interviews hundreds of successful real estate investors and details their struggles as well as recipes for success in a competitive market. Moreover, fundamental concepts are explained eloquently; such as, negotiation tactics, transaction processes, tax strategies, building a network and pouncing on the right opportunities.
3. The Book on Investing in Real Estate with No (and Low) Money Down
Brandon Taylor to real estate is what Elon Musk is to technology - he has laid an excellent framework for young people who are looking to make it big in the real estate landscape. His books are simple to comprehend and provide practical applications to complex property conundrums. As the title suggests, Bryan sheds light on how one can start with little cash flow, find ways to keep a pulse on the market and close deals with great success. What the book does so well is develop a unique “less is more” mindset that can lead to enormous success with little resources.
4. One Rental at a Time: The Journey to Financial Independence through Real Estate
For those looking to make a fortune in the rental industry, this book is a must read. The lessons and principles outlined in this book revolve around the famous Chinese proverb, “The best time to plant a tree was 20 years ago. The second best is now”. The book’s subject matter deals with achieving financial independence by utilizing key strategies in the property market that are oftentimes overlooked. The author, Michael Zuber reveals how investing and holding in rental properties will yield enough returns for one to quit their day job and build a solid portfolio in real estate.
5. The Book on Flipping Houses
This is the book for those who aim to flip houses instead of playing the long game associated with renting real estate. Being a successful house-flipper himself, J Scott narrates his experiences as well as of other successful investors to tell the way forward to both novice and seasoned investors. The Book on Flipping Houses is based around the traditional model of finding properties in a good location, renovating them and selling at a profit - but the book presents everything in such a cohesive manner that you wouldn’t need to look up videos on YouTube or any other material once you have read all the chapters. From evaluating potential markets to financing and tying up with contractors, this book covers everything related to house flipping.
6. Long-Distance Real Estate Investing
This book is aimed towards seasoned investors who are looking to diversify their real estate portfolio by entering international markets. The author of the book, David Greene asserts that with the availability of technology, a favorable investment climate and citizenship reforms in major real estate markets; it’s easier to connect with the right audience at the right time to sell a property and make millions. Greene himself has a portfolio worth millions, and in his book, he has disclosed the most important strategies for budding investors to widen their property investments nationwide and beyond borders. The chapters also discuss how to identify suitable neighbourhoods and ways to renovate a property remotely before one can sell it.
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