If you are considering a career in the complex and competitive world of real estate investing, much of what you need to know is learned through trial and error and self-education. Sure, you can go to school to learn the basics, but experience (both yours and others) and research takes you further than schooling can in terms of success. Here are five must-read books if you’re thinking of becoming a real estate investor.
1. Building Wealth One House at a Time by John Schaub
John Schaub is a seasoned real estate investor who teaches the basic fundamentals of real estate investing. Based on the idea that small real estate investments build big fortune, he discusses financing, deal analysis, negotiating deals, property management, and the legal aspects of real estate investing in a way that excites and inspires beginning and experienced investors alike.
2. The Book on Investing in Real Estate with No (and Low) Money Down by Brandon Turner
For many real estate investors, making big down payments is a problem. In this detailed book, Brandon Turner talks about the many options for investors to purchase properties without needing a lot of money upfront.
From beginning investing with owner-occupied properties to a list of creative techniques for financing and strategies, this book is a virtual toolbox of helpful options when capital is limited.
3. What Every Real Estate Investor Needs to Know about Cash Flow by Frank Gallinelli
If the financial side of things sends your head spinning, this book is for you. Successful real estate investing begins with a detailed knowledge of calculations and return on investment, and Frank Gallinelli does a wonderful job educating the reader on everything from the four ways to make money in real estate to multiple methods for calculating your return on investment. He even includes Excel spreadsheets that help you see how the formulas he talks about in the book actually work.
4. The Book on Financing Houses by J. Scott
If your area of interest is flipping houses, you’ve got to read this book. J. Scott uses a systematic and thorough approach to the subject, offering a wide range of advice on topics like getting your finances in order, finding and analyzing farm areas, why consider distressed properties, finding good deals, project scope, and staging houses to sell.
Lucky for you, you won’t need to do much research beyond this book because this is a comprehensive guide to the fix and flip business.
5. The Book on Estimating Rehab Costs by J. Scott
Another book by J. Scott, this one covers the fine art of rehab and construction estimating. As with the previously mentioned title by the same author, you can take the concepts covered in this volume and apply them directly to your own investing business.
Since rehab is a main part of flipping houses, it’s important investors understand every aspect of the journey. From the 25 renovation components to how to pay contractors for their work, J. Scott teaches his system for estimating rehab costs accurately to reap the most profit.
Whether you’re a beginning real estate investor or a seasoned one, reading any or all these books will surely help you build a better, stronger business. Real estate investing can be complex, but the more time you spend learning, the more successful you will be.