Don’t let myths and mistakes keep you from investing in one of the best asset classes. Check out these best real estate investing books to get your property empire started.
Few investments have created as much legacy wealth as real estate. Unfortunately, there are also few strategies that are as hyped and misunderstood as real estate investing.
I started investing in single-family real estate property in 2002, shortly after getting out of the Marine Corps. I worked as a commercial real estate analyst and saw rock-bottom interest rates bringing a boom in the property market.
I was fortunate enough to sell out of most of my real estate investments before the crash but the asset class still carries a bad association for a lot of investors.
You don’t have to miss out on an excellent investment for fear of getting burned. Avoiding future real estate bubbles (there’s always a bubble eventually) and making solid cash returns starts with understanding the risks in property investment and not getting caught in the hype.
You don’t have to be lucky or be born into a real estate empire to be successful. I’ve put together a list of the best real estate investing books to get started on your real estate riches in 2017.
Best Real Estate Books for Getting Started
There is 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.
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.
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.
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.
The Loan Guide: How to Get the Best Possible Mortgage by Casey Fleming
The best part about real estate investing is the leverage you’re able to use with a mortgage. I’m not talking about becoming a debt junkie but rates on home loans of around 4% are hard to beat if you can invest in an asset that makes 7% or more.
Casey has been in the mortgage industry since 1979, founded one of San Francisco’s largest appraisal firms and started in mortgage lending in 1995. The Loan Guide can help homebuyers and real estate investors understand the loan market and pick the best loan program available.
Best Real Estate and Business Biographies
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.
Trump: The Art of the Deal by Donald Trump
This is one of the first biographies I ever read, well before Mr. Trump dreamed of being the leader of the free world. Regardless of how you feel about Trump’s policies as President, it’s tough to deny his success in real estate investing and across so many different industries.
The book is not just a retelling of how Trump created a billion-dollar empire but how he runs the business and how he is able to negotiate the best deals. It’s a great business primer and a class on negotiating as well as a motivating read for any aspiring real estate investor.
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.
Top Real Estate Books to Beat the Property Game in 2017
Getting started investing in real estate is one thing. Successfully managing your real estate investments without ending up in the poor house is another thing entirely. These real estate investing books will help you avoid the most common mistakes and build a strategy for organizing your property management.
Real Estate Investing Sucks: How to Find Success as a Real Estate Investor by Rachel Hernandez
Rachel is the queen of mobile home investing and has four books on real estate investments detailing her decade of experience. Each book is a concise and practical guide to different points in the real estate investing process. In this book, Rachel tackles the challenges you’ll experience as an investor and how to deal with changes in the market, management and funding.
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.
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.
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.