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According to Pew Research Center, “most rental properties – about seven in ten – are owned by individuals, who typically own just one or two properties.” Many real estate investors are out there, but not all of us have the proper training.
Reading real estate books can help you avoid costly mistakes and accelerate your progress toward building wealth.
That’s why I’ve chosen five must-read real estate investing books that can give you a solid foundation for real estate investing and open up your investing mindset.
The general aim of real estate investing is to help you own properties and build passive income each month.
A real estate investor can more easily start investing and managing tenants after reading these books and implementing the lessons and strategies taught.
A great way to start investing in real estate without a lot of money is with Fundrise, a crowdsourcing real estate investing platform.
With investment minimums of ONLY $10, you can start making PASSIVE INCOME with your real estate investment portfolio!
Related content: $250K in 4 Years From Real Estate As College Students
Let’s dive in and see why these 5 real estate books can help you become an expert in real estate investing.
Table of Contents
Top Real Estate Investing Books
- The Millionaire Real Estate Investor
- Buy, Rehab, Refinance, Repeat
- The ABC’s Of Real Estate Investing
- One Rental At A Time
- Every landlord’s Legal Guide
1) The Millionaire Real Estate Investor – Gary Keller
The author, Gary Keller, created the impressionable saying, “ANYONE CAN DO IT… but not everyone will… will you?”.
Beginners should understand the proverb Keller shared before investing in real estate. You must prepare yourself and your mind to be like a millionaire, but don’t worry because Keller has you covered!
Real Estate Investor Stories
The book describes the financial journeys and success stories of 100+ millionaires, so a ton of valuable information is shared about the mistakes and successes of real people.
Keller stated in his book that 90% of millionaires become millionaires by investing in real estate.
In his book, the author helps you learn how to make your mindset similar to a millionaire and have a solid investing strategy. This includes tips on how to generate leads and much more.
Some Strategies Taught in His Book
- Everyone needs an investing strategy. Beginners have an excellent opportunity to invest individually (without joining others).
- How to NOT make a lousy deal.
- Create strategic criteria when you are an investor, and only invest when a deal fits your criteria.
This book also shows how you can apply specific techniques to grow your cash flow and increase real estate equity.
This book is great for any beginner or advanced real estate investor; get your hands on a copy today!
2) Buy, Rehab, Rent, Refinance, Repeat – David M. Green
The method of BRRRR is very easy for the investor if you are starting and purchasing your first residential property.
By reading this book, you can learn what ‘Book Buy, Rehab, Rent, Refinance, Repeat’ means and apply the author’s proven plan. Here is a quick recap of each step.
Buy
Your buying strategy should include having the property in a good location with great potential for solid renters. Green will dive into the specifics in his book, including how to buy a property with limited resources.
Rehab
When you start renovating your property, it will increase the value of your property. Good renovations will focus people’s attention and motivate them to rent. Green will give valuable reasons and tips on how to increase the property’s value greatly.
Rent
When the property is well designed and maintained (renovated), make it available for rent. Start depositing the property rental income into your account and create a healthy cash flow.
Refinance
Learn about holding periods and other tips regarding when and how to refinance the property.
Repeat
Lastly is to buy another property based on the BRRRR strategy. By doing this, you will earn and learn more and, one day, become very successful and wealthy from your investments.
You’ll want to check out this book to learn more about effectively implementing the BRRRR method – the method my wife and I have been using and finding much success. 🙂 You can also see our personal story and insights in this article I wrote: The Ultimate BRRRR Method Real Estate Investing Guide.
3) The ABCs of Real Estate Investing – Ken McElroy
Ken McElroy tells us not to accept any information blindly but always to verify it. Especially in real estate, verifying key information first is vital to making a great purchase and long-term investment.
Find and Understand Market Trends
Why does ken McElroy check the trend first? Because before buying a property or investing money in the market, you must check the market trend rather than the property price only.
The Basic Rules…
- The market is more critical than the property. The value of the call depends upon the market value and not the property.
- Don’t rely on the gut feeling. The rule of real estate investing – find the facts.
- Look for a suitable investment like dating.
McElroy teaches many more methods that can help you identify the best investments using basic math, which will help you know when to buy, how long to hold, and when to sell.
Become an expert and obtain a solid investing foundation by following his methods and steps today!
4) One Rental at a Time – Michael Zuber
This book is about how the author worked a normal job but wanted financial independence.
He made that dream a reality by investing in real estate, sharing many experiences on how he could gain back 20 years of financial freedom.
Zuber will inspire those who are busy professionals and prove that real estate investing is possible, no matter how busy you are.
He explains what decreases and increases the value of a rental and much more.
See more of his inspiring story and how you can invest serious wealth in one rental at a time.
Related content: 7 Mistakes To Avoid As A New Landlord (Our Experiences)
5) Every landlord’s Legal Guide – Marcia Steward, Janet Portman, Ann O’Connell
This book has you covered when it comes to the legal aspects of managing a rental or multiple rentals as a Landlord. I’ve learned from our personal experiences that it’s important to know the legalities and treat your rental as a business; trying to be a friendly landlord will not cut it.
You will learn the best and safest ways to deal with tenants. Here are some key lessons taught –
- Tenet selection and screening
- Prepare a lease or rental contract
- Refund and collect deposits
- Avoid charges of discrimination
- Maintain equipment by keeping it in good repair
- Keep liabilities to a minimum
- Troubled tenants: how to handle them
- Troubled tenants: how to manage them
Related content: 6 Useful Tips To Win A Home Bidding War
Conclusion
The 5 books mentioned in this article will help you learn from others’ mistakes and successes, be a great landlord and give you a solid foundation for real estate investing.
Follow the methods taught in our top 5 real estate investor picks and become an excellent real estate investor in 2022!
Disclaimer:
We hope the information in this article provides valuable insights to every reader but we, the Biesingers, are not financial advisors. When making your personal finance decisions, research multiple sources and/or receive advice from a licensed professional. As always, we wish you the best in your pursuit of financial independence!
