The real estate market is constantly changing and evolving, and as an investor, it’s important to stay up-to-date on the latest trends and strategies. One way to do this is by reading books written by industry experts who have firsthand experience and knowledge in the field.
With so many books on the market, it can be overwhelming to know which ones are worth your time and money. That’s why we’ve compiled a list of the 5 best books for real estate investing in 2023:
1. “The Millionaire Real Estate Investor” by Gary Keller
This book is a must-read for any aspiring real estate investor. Written by the co-founder and chairman of Keller Williams Realty, Gary Keller breaks down the fundamental principles of real estate investing and provides practical advice on how to achieve financial independence through real estate.
The Millionaire Real Estate Investor is an essential guide for anyone looking to build wealth through real estate investment. It offers practical advice and proven strategies from over 100 successful millionaire investors. In this book, you will learn how to overcome common misconceptions about money and investing, identify valuable investment opportunities, negotiate the best deals, and build a strong network of professionals to support your investment business. The Millionaire Real Estate Investor will teach you how to develop the mindset and skills needed to succeed in the world of real estate investing and help you unlock your full financial potential. Whether you are just starting out or an experienced investor, this book is a valuable resource for anyone looking to build wealth through real estate.
2. “The Book on Rental Property Investing” by Brandon Turner
If you’re interested in investing in rental properties, this book is for you. Written by Brandon Turner, a real estate investor and co-host of the BiggerPockets Podcast, this book covers everything you need to know about building a successful rental property portfolio. From finding the right property to managing tenants and cash flow, Turner provides a comprehensive guide on how to build wealth through rental property investing.
With over half a million copies sold worldwide, this business best-seller offers in-depth advice and practical strategies for building significant cash flow through rental properties. In addition to sharing his own time-tested strategies, Turner also provides insight into common pitfalls and mistakes made by real estate investors and offers tips on how to avoid them.
3. “The ABCs of Real Estate Investing” by Ken McElroy
If you want to become a successful multifamily investor, you should start by reading The ABCs of Real Estate Investing by Ken McElroy. This book is a must-read for anyone interested in the multifamily space, as it covers everything you need to know to find, underwrite, negotiate, manage, and prosper in this area.
One of the reasons why this book stands out from others on apartment investing is that Ken is an experienced and successful investor himself, who owns one of the largest property management companies in the Southwestern U.S. His writing style is easy to understand, and his book is filled with actionable content and a clear framework for you to follow.
Ken focuses a significant portion of the book on property management, a topic that many authors tend to gloss over. He emphasizes the importance of this aspect of multifamily investing and provides a detailed guide to the duties and responsibilities of a successful property management company. He also offers advice on hiring a management company and when it is time to switch to a new one.
In addition to property management, Ken’s book also covers a range of other topics that are essential for multifamily investors. These include debunking myths about investing, building a strong team, conducting market research, analyzing deals and evaluating properties, and navigating the process from letter of intent to take over. He also emphasizes the importance of due diligence, urging investors to “trust, but verify” when it comes to making decisions about their investments.
4. “Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple” by David M. Greene
Unlike traditional real estate acquisition, which involves securing a loan, buying the property, and fixing it up, the BRRRR strategy involves purchasing a property with cash on hand, renovating it, and then refinancing. This allows investors to achieve greater rewards by refinancing after adding value to the property through renovations.
To achieve success with the BRRRR strategy, Greene advises investors to reach a “black belt” level of commitment and to avoid a piecemeal approach that relies on random investment advice. Instead, he urges investors to commit to the BRRRR method and to build a network of talented contacts who have specialized knowledge in areas critical to the BRRRR cycle, such as lenders, property managers, contractors, and real estate agents.
This book is a valuable resource for both novice investors and those who have had previous experience in the market but are looking to try alternative strategies. It offers practical examples and specific tips for each step of the investment process, including how to identify target properties, negotiate offers, increase a property’s value, and recruit top talent. With the BRRRR method, investors can create wealth with real estate investment properties and achieve financial independence.
5. “Crushing It in Apartments and Commercial Real Estate: How a Small Investor Can Make It Big” by Brian H. Murray
Brian Murray is the CEO of Washington Street Properties, a multimillion-dollar real estate company that he built from the ground up. He started out as a teacher looking to generate some extra income through real estate investing. Despite having no prior experience in the industry, Murray used his passion for business and common sense to develop a successful approach to investing that he still uses today.
In his book, ‘Crushing It in Apartments and Commercial Real Estate’, Murray shares the secrets to his success with readers, offering actionable advice and practical tips for getting started in the world of real estate investing. He covers topics such as finding and financing commercial properties, growing a portfolio without outside investors or excessive debt, and using your status as a small investor to your advantage. Through real-life examples and lessons learned from his own experiences, Murray provides the guidance and inspiration needed to succeed in the competitive world of real estate investing.
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