everyone has dreamed, at one time or another, of owning a property and living off the rental income. Being a real estate investor can be a rewarding path to follow. Investing in real estate is a great hedge against any volatility you may experience in the stock market or other investment areas. real estate is also a great investment.
There is much to learn about the real estate market and potential investors should not take a casual approach to entering the field. There is a lot to learn and reading books on real estate investing is one of the many ways to learn the nuances. There are many worthwhile books on the market related to real estate investing. These books delve into the many types of investments and the details of each type. This article will review seven of the best real estate investment books available to first-time investors. a synopsis of each book is included below.
You are reading: Best real estate books for beginners
gary keller’s millionaire real estate investor
In “The Millionaire Real Estate Investor,” Gary Keller, expounds upon the wisdom that he gained from more than 100 millionaire real estate investors. The book is one of the best real estate investing books especially for beginner investors. He breaks down the detailed steps to becoming a millionaire investor so you can take action.
The beginning of the book addresses the common myths that all first-time investors encounter. the author debunks them and then builds a thesis throughout the book about what it takes to become a millionaire investor. he states that this starts with “thinking like a million”. With the nurturing mindset, a real estate investor must think big and dream big. gary keller states that an investor should have a plan that encompasses their net worth, their rationale for wanting to invest, and a plan of action. he then discusses the need for a budding real estate investor to “buy a million” .
gary keller wants investors to know that money is made when properties are bought, not when they are sold. Valuing a property correctly and paying below market for a property is the first step to becoming a millionaire. The book then discusses “owning a million.” In short, this means that the income from the property must be used to build equity. Finally, the author states that an investor must “receive a million”. this is when you get to the top of the mountain and earn passive income from property. your property is now working for you. this is a must read for any beginning investor.
the book on investing in rental properties by brandon turner
“The Book on Rental Property Investing” has about 400 pages of in-depth and enriching advice about building wealth through rental properties. This book is a comprehensive guide that provides key information on searching for properties, using leverage to purchase properties, choosing the right tenants, and managing several properties.
Important Real Estate “How To’s” You Will Learn
- how to create an actionable business plan
- how to find and win deals
- how to analyze and underwrite properties
- how to create a vertically integrated team
- how to finance and take advantage of rental properties
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The author, brandon turner, provides tons of practical advice from start to finish. This book is strategically written to guide a beginning real estate investor through the process of generating significant cash flow from rental property investments. The author’s sole goal throughout the book is to provide you with everything you need to become a millionaire rental property investor.
what every real estate investor needs to know about cash flow by frank gallinelli
Author Frank Gallinelli makes a simple premise in this book. He suggests that investors can increase their chances of making a successful purchase by learning and using a few significant financial calculations. He begins the book by laying the foundation for beginner investors by going over some basic investment concepts used throughout the guide. The various chapters in the book each look at specific mathematical calculations related to property cash flows.
the most important real estate cash flow calculations
- discounted cash flow
- cash return on cash
- net operating income
- cap rate
- rent gross multiplier
- net present value
- payback period
- mortgage amortization
This essential book is a must-read for any investor who wants to make a decision based on financial calculations rather than emotion. By the time you finish this book, you will be able to answer these practical questions every homeowner you should know:
- what is the current value of a real estate investment property?
- what kind of cash flow can I expect from an investment property?
- what real estate is the best? investment for me?
- how do I calculate the return on my investment?
buy, rehab, rent, refinance, repeat by david greene
David Greene is a former police officer who made the shift to become a real estate agent and investor. This book discusses the BRRRR (Buy, Rehab, Rent, Refinance, Repeat) investment strategy in comprehensive detail to help beginner investors build a real estate empire within a relatively short time-frame.
how to execute the brrrr method:
- bbuy undervalued subject property with own capital or other people’s money (opm)
- rrehabilitate and renovate the property subject
- rrent the newly improved subject property
- rfinance the subject property to withdraw initial capital ( and possibly more money due to increased property value due to forced appreciation)
Throughout the book, David Greene shares how investors with limited capital can buy investment properties. When you’re done reading, you’ll be able to locate properties, make decent offers, increase property values, identify emerging markets, and build a talented team for your budding real estate empire.
how to invest in real estate by joshua dorkin & brandon turner
This book is a another essential guide on how to get started in the real estate investment business. This is not the traditional investment book that will give you the “secret sauce” to real estate investing. Instead, this book is packed with several dozens of real life stories and examples of what current investors are doing to be successful in today’s market.
what’s inside “how to invest in real estate”
- guide to investing in real estate (even if you have a full time job)
- llc, corporations and other tax entities explained
- how to make more money from your main hustle & side hustle so you can invest in real estate
- how to get your partner to support your real estate dream
- comparing the 8 different types of properties
- how to build & Preserve Wealth With 11 Critical Strategies
- 28 Ways Real Estate Veterans Find & look for the best offers
- creative offer structures to finance your acquisitions
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There is no specific reading classification in my book recommendation. However, “How to Invest in Real Estate” has a significant number of reviewers who recommend that this should be one of the first books you read as you begin your real estate journey. It really seems to be “the ultimate beginner’s guide to getting started”.
crushing it in apartments and commercial real estate by brian murray
The author, Brian Murray, went from school teacher who turned his real estate side hustle into his main hustle. This starter guide to investing is gleaned from the author’s bootstrapping days as a new investor. This book is for real estate investors of all levels of experience whether you are focused on residential investments, commercial investments, or both.
brian murray’s steps to invest in apartments & commercial real estate
- creative finance & seek commercial real estate
- build a low-leverage real estate portfolio without outside investors
- leverage your status as a private investor to beat institutional competitors in deals
- uncover value to increase profits and keep costs down
brian murray has done an amazing job with this guide and it allows any aspiring investor to feel like they can step into the world of commercial real estate. I think this book is useful for investors looking to level up their first fourplex and even investors trading up to 20 units.
the abc of real estate investing by ken mcelroy
The ABCs of Real Estate Investing is an easy read and full of facts that the aspiring multi-family apartment investor should embrace. Just like the previous books in this list, this book discusses various formulas beginner investors can use to analyze properties for moneymaking potential. Ken McElroy also dives into analyzing profit and loss statements and how to put together an qualified investment team.
common real estate investing myths by ken mcelroy
- must be rich to invest in real estate
- must start small business before going big
These are just two of the myths ken mcelroy debunks in the book as he discusses the tried and true strategy of buying and holding rental properties to build wealth. The author encourages investors to have a goal that is measurable and realistic. he emphasizes the fact that investors must be accountable to someone and constantly focused on the bottom line.
conclusion
As you can see, these are some of the best real estate books for investors. Investing in real estate is not just about finding or negotiating good deals. it’s about being the most educated and well-rounded investor you can be. Investors realize that deal opportunities are often difficult to control. however, the most disciplined real estate investors react to such situations easily as they have read about or experienced similar situations before. I too had to learn all these lessons, and that’s why all these books have been on my nightstand (also on my audio and kindle nowadays lol). take some time to read the books featured in this article and they will help you become the best investor you can be.
Before you go, check out my other list sharing the Top 10 Books for New Realtors