I often get asked which books I recommend reading for beginners. I have a rather large library (well, as large as my NYC apartment will hold) of real estate investing books and here is my list of the top three ranked in order of which they should be read.
Wait, what? The first book isn’t dedicated to real estate? Correct, my friend. It’s not. It gives you a great overview of the three different types of investing – stocks/bonds, investing in small businesses, and real estate.
And it lists out the pros and cons for each of them. That way you can decide if real estate is the path for you based on the facts.
And, if it is then move on to…
You’ve heard of it and for good reason. My sister mailed me a copy 6ish years ago and I’ve never been so inspired to invest.
Here’s the drawback from the book: it doesn’t go into depth on the deals. And that’s been the knock on the book for years. Also, you might hear people speak negatively about the Rich Dad, Poor Dad seminars. Personally speaking, I’ve been to one and learned a lot but I have friends who said they weren’t worth the money. I think it depends on your instructor – regardless that’s all irrelevant because this book is worth your time.
The advantage is it is absolutely inspirational because it simplifies the investing process and makes it seem accessible (which it is). The principals he teaches in the book set the foundation for being a savvy investor.
What a fantastic book written by a couple guys who know real estate investing. The book starts out with a story about two people working at the same company but one is a janitor and the other a high-level executive. The janitor invests in real estate and the sales guy doesn’t. You can probably guess what happens but the story is very insightful despite the predictable ending. The bulk of the book discusses how to generate equity with your real estate purchases. This is a MUST read.
What other books have you read? Feel free to list in the comments below or send me a Tweet – @joefairless.