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If you’re looking to make your money work for you, real estate investing is the most tried and tested way. But with property costing so much, it can seem like an intimidating venture. Then there’s the thought of being a landlord, which can be enough to scare away many people. But if you want to achieve financial independence, it’s merely a matter of acquiring the proper knowledge. Being a successful real estate investor is all about having first the right mindset. Once you have that, you can buy the right tools and understand the trade. There are a lot of books out there on real estate investing. No single book will cover everything, and there are almost as many investment strategies as housing types. These books below will get you started for those aspiring to get into real estate investing.
Some are more motivational; others are more practical; all are required reading for enterprising real estate investors.
Rich Dad Poor Dad by Robert KiyosakiRich Dad Poor Dad by Robert Kiyosaki
Not so much a book about investing in real estate as a money management book. A classic among investors the world over that contains an incredible amount of thought-provoking content. Its primary focus is on laying the right foundations for how you should look at your finances. Robert does this by contrasting two different approaches to money. One, the poor dad, looks at money as something to work for, and one, the rich dad, looks at money as something that should work for you. Don’t expect much detailed info on how to invest. Instead, it lays out why investing is so important and how you can change your financial habits for the better. For any aspiring real estate investor, this is a great book to start.
The Millionaire Real Estate Investor by Gary KellerThe Millionaire Real Estate Investor by Gary Keller
In this book, the advice of over 100 millionaire investors has been collected – all to deliver a straightforward and easy-to-read guide on becoming a successful real estate investor. It’s cumbersome on the motivational side of things. However, those new to the industry and feeling a little apprehension about it will gain the courage to get started. The first sections help dispel the many myths about real estate investment that stop people from getting into it early. The rest lays down the habits needed for success and outlines the overall structure for a successful real estate business. It lacks details on the more advanced stages of real estate investing.
The Book on Rental Property Investing by Brandon TurnerThe Book on Rental Property Investing by Brandon Turner
The previous two books will have given you the right mindset for the road ahead. Now it’s time to start getting into the real meat and potatoes of creating profitable rental property investments. What you’ll find in these pages is real-world practical advice on how to develop an investment strategy, find great deals, and finance your purchases. Those unfamiliar with the intricacies of real estate investment will find it invaluable as a guide and a reference book. However, while it does touch a bit on property management, it could use a little more detail. Fortunately, Brandon and his wife, Heather Turner, have a follow-up book, The Book on Managing Rental Properties, to tell you all you need to know about that.
Every Landlords Legal Guide by Marcia StewartEvery Landlords Legal Guide by Marcia Stewart
Becoming a landlord can be a challenging undertaking. You’ll want to know how to handle the trouble spots you’re very likely to encounter. The subject can make for a slightly dry reading, but it’s essential to know all the legal issues landlords can face. The book is comprehensive and covers all the significant aspects like handling security deposits, rejecting applications, subletting, evicting tenants, etc. A helpful bonus is that it comes with a downloadable library of forums you can use for creating leases and other contracts. It won’t replace a competent attorney, but it will be an invaluable source of legal issues. Having some basic knowledge will also help you ask the right questions when you need to consult a real estate attorney.
Landlording on Autopilot by Mike ButlerLandlording on Autopilot by Mike Butler
Everyone wants the profits that being a landlord can bring, but not everyone likes the responsibilities that come with it. If you’re fearful of getting into real estate because of being a landlord, then this book will put those fears at ease. Here, Butler sets out his strategy for managing multiple rental properties with minimal work. The level of information here on how to deal with tenants is insane. Its best advice is to set up a virtual office and management system, incentives to encourage tenants to stay longer, a tenant move-out checklist and package, and a ‘welcome package’ for new tenants. An updated 2018 edition is now out, introducing new tenant-landlord-friendly technologies to make the rental experience easier for everyone.