The 10 best real estate investing books
When it comes to property, knowledge is power. While the real estate market will always provide opportunities to clever investors, each property purchase is accompanied by challenges and potential pitfalls. Rather than blindly following someone's lead or making it up as you go, it's always a good idea to do your homework and learn from the experts.
The Internet has become an incredibly valuable source of information and advice over recent years, with this site and many others providing great investment tips. When you really want to sit down and master the subject matter at hand, however, you can't beat a book. Let's take a look at ten of the very best real estate investing books available in 2019, and how they can help you on the road to financial freedom.
Each of the following ten books covers a different aspect of the real estate market, from getting inspired and creating the right mindset through to specific strategies for getting a mortgage, asset growth, and rental income. The books at the start of this list are a perfect source of inspiration for new investors, with the knowledge base getting more specific and advanced towards the end of the list.
Rich Dad Poor Dad
Most people have heard of this book by Robert Kiyosaki, which is a treatise on how to build and grow wealth by investing in property and other tangible assets. While this book is showing its age in 2019, there’s a good reason this runaway bestseller was on the New York Times bestseller list for over six years. While the strategies covered in this book also apply to small businesses, the lessons covered in Rich Dad Poor Dad are a perfect fit for the property market.
Rather than boring people with the same tired strategies, Rich Dad Poor Dad inspires readers to generate passive income by working smarter instead of harder. If you want to build a property portfolio that generates consistent returns, this book will provide you with the motivation you need. Instead of feeling stuck in a dead-end job that you don't like, Rich Dad Poor Dad helps you to see the reality of money, how it moves, and how you can use it to your advantage by investing in property and other tangible assets.
The Millionaire Real Estate Investor
The Millionaire Real Estate Investor by Gary Keller offers a practical and inspirational collection of wisdom and experience from over 100 highly successful property investors. The people featured in this book achieved financial freedom through various methods of investing, with readers able to draw conclusions from a number of big themes that weave throughout the text. Just like Rich Dad Poor Dad, this book is highly motivational and valuable to new investors.
The Millionaire Real Estate Investor is not all about motivation, however, with the book finishing with a practical description of a complete real estate business. What this book does very well is cover the biggest myths about money and property investing, many of which prevent people from achieving success. This is also a lot of practical advice on how to compare and contrast real estate opportunities in order to find the most profitable ones for you.
The Book on Rental Property Investing
There are two primary ways to make money from property: capital growth, and rental income. While these two ways to make money are not mutually exclusive, it often makes sense to focus on one method at a time. The Book on Rental Property Investing by Brandon Turner is just that, a guide on how to purchase properties and make money by becoming a landlord. This book comes with detailed real-world advice and specific strategies on how to finance your deals, along with advice on how to find and screen tenants.
Investing in a rental property comes with its own unique challenges, with this book laying the groundwork on how to succeed. While success as a landlord often comes down to local knowledge, this book features a thorough guide through the process of attracting the right tenants, managing a rental property, and performing the required maintenance. This book might be short on inspiration, but it's full of simple strategies and actionable tips. Overall, this publication is a great addition to the library of anyone who sees themselves as a future landlord.
The Book on Investing in Real Estate with No (and Low) Money Down
There are a lot of hurdles to overcome before you can become a property investor, with one of these hurdles particularly significant. As its name would suggest, this book offers guidance to anyone who's big on dreams but short on cash. The Book on Investing in Real Estate with No (and Low) Money Down is also by Brandon Turner, and has the interesting subtitle: Real Life Strategies for Investing in Real Estate Using Other People's Money.
While the landscape around no-deposit loans has changed dramatically since this book was released, there are still some great opportunities out there for clever investors. This book uses a number of hypothetical examples that teach people how to invest with small deposits, combine investment techniques to gain a more flexible position, and attract lenders to the table. While this book is far from advanced, it offers a lot of interesting examples, and helps people see how they can get started - almost - from scratch.
From 0 to 130 Properties in 3.5 Years
This excellent book offers real-world insight into the mind of its author, Steve McKnight, who achieved the inspiring feat mentioned in the book's title. While this is an Australian book that covers the Australian real estate market, there is more than enough great advice here to benefit any property investor. From 0 to 130 Properties in 3.5 Years goes into specific details about individual properties, analyzes the real-world numbers used to make decisions, and looks at how Steve became positively cash flowed over time.
This book includes a simple four-step process for finding positive cashflow properties, even if you have no experience. It also helps you to create a positive cashflow property portfolio from scratch, protect your wealth, and maximize your profits. While beginners can benefit a lot from reading this book, it also covers advanced concepts such as vendor-terms contracts, lease options, and holding strategies. Steve McKnight's most recent book is called From 0 to Financial Freedom, which analyzes his successful strategy of buying cheap properties and turning them into money making machines.
The Intelligent REIT Investor
A REIT or real estate investment trust is a company that owns and operates income-producing real estate assets. The Intelligent REIT Investor by Stephanie Krewson-Kelly and R. Brad Thomas provides clear and concise advice on what can be a complex subject matter. This book has a large scope and is designed to be a valuable resource for individual investors, financial planners, and analysts. REITs often own or finance apartment buildings, with this form of investment providing a great alternative to houses or condominiums.
While you can't own an apartment outright, you can invest in a REIT and take advantage of their historically high returns relative to other investments. This books covers a lot of ground, helping people to understand REITs, how to identify suitable companies, how to access historical records, and how to find publicly-traded REITs. While this form of property investing is not for everyone, REITs have a long history of outstanding performance compared to other properties and asset classes.
The Book on Flipping Houses
There are many ways to make money on the real estate market, from long-term holding strategies through to rental income generation and profitable REIT investments. House flipping is another alternative, with this process perfect for thrill seekers who want to substitute the long game for the short game. The Book on Flipping Houses is just that, with professional house flipper J Scott laying down his system for finding properties, fixing them up, and selling them on for a profit.
This book covers almost everything you need to know about flipping as a profitable investing strategy. While this exciting strategy is not for everyone, there are definitely profits to be had if you know what you're doing. The Book on Flipping Houses shows you how to evaluate potential markets, obtain finance for a rehab property, manage the renovations, and hire contractors to get the job done. This book is a comprehensive roadmap from start to finish, and also features advice on how to put your home back on the market when the work is done.
Investing in Condominiums: Strategies, Tips and Expert Advice for the Canadian Real Estate Investor
Condominiums are popular in Canada, with this book providing some valuable advice to Canadian condo investors. While there are lots of books about condo buying and living, there are very few publications focused exclusively on the condo investor. Investing in Condominiums by Brian Persaud and Randy Ramadhin is for property investors who want to expand their portfolio and take advantage of the highly popular condominium market.
Investing in a condo is not about the condo lifestyle, condo amenities, or the trendy inner-city condo neighbourhood. It's about finding a way to generate solid returns from a condo investment using proven strategies and investing fundamentals. Canada provides the perfect backdrop for many of these lessons, with pre-construction condominiums in Toronto and Vancouver highly sought-after by Canadian and international investors. While this book needs to be supplemented by current information such as that published on this website, it provides a great introduction to the ins and outs of profitable condo investing.
More Than Cashflow: The Real Risks and Rewards of Profitable Real Estate Investing
This book by Julie Broad offers some much-needed honesty and straight-forward thinking to real estate investors. If you're sick and tired of hearing about "easy passive income" and "$10,000 a month in rent", this book will provide some valuable home truths. While Julie remains positive about the possibility of building wealth and generating income through smart investments, her down-to-earth approach is sobering and incredibly valuable.
More Than Cashflow looks at the real risks associated with the real estate market, including the opportunity costs involved with property investing. From the time it takes to get a mortgage through to the money tied up with renovations and the stress that accompanies the sale process, the real estate market is not all rainbows and sponge cake. This book will give you the answers you need instead of the ones you were hoping for, and that alone is worth its weight in gold.
Tax Strategies for the Savvy Real Estate Investor
This book by Amanda Han and Matthew McFarland offers highly specific and incredibly valuable advice for all property investors. Investing in real estate has tax implications, so you might as well do your homework. For example, you can deduct a lot of expenses as a real estate investor, with this book helping with specific deductions and timeframes. It's also important to declare the income you're earning from your investment in order to avoid tax problems down the track.
While Tax Strategies for the Savvy Real Estate Investor is meant for US residents, the lessons learned can be applied anywhere in the world. There is a degree of certainty and professionalism that carries throughout this book, with both of the authors certified public accountants. Whether you want to know how depreciation works, how to use a self-directed IRA to buy property, or how to avoid getting in trouble with the IRS, this book is a worthy addition to any investment library.
In the world of real estate investing, knowledge is perhaps the most important asset of them all. While property provides fantastic opportunities for growth and success, the amount of money involved can be risky if you don't do your homework. It's important to base each decision you make on sound professional advice, with the use of trusted information from published books giving you a chance to put your best foot forward.