What book has helped you the most? and why?

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What book has helped you the most? and why?

Jamie Fankhauser
Member since 2020 · 12 posts · 35 votes

Whether it be REI, Personal development, leadership, mindset, etc. - what book has impacted you in a major way and why? Looking to add some recommendations to my reading list!

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Joshua D.
Investor · Columbus, MT · Member since 2013 · 1k+ posts · 1k+ votes
5y

@Jamie Fankhauser

My most recommend books are...

1. Millionaire next door.

2. Richest man in babolyon (free PDF)

3. Rich Dad poor dad

4. Proverbs (in the Bible)

I like books that you have to have to interpret and make you think. Rather than step by step books that are hardly ever accurate for each person.

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  • Scott Passman
    Rental Property Investor · Batavia, IL · Member since 2018 · 452 posts · 672 votes
    5y

    There are some great books on this list, as always.  One book I want to throw out that hasn't been mentioned is Ayn Rand's Capitalism: The Unknown Ideal.  I must say that I find it comforting in some ways because all of the things it discusses back in the 50's and 60's are EXACTLY the same things that are going on now with politics, the arguments about socialism vs. capitalism, and even the terms and rhetoric used.  History is a great reminder that at any point in our lives whatever we are experiencing has happened before in some way.  This book offers good insight into what free market capitalism actually is and provides some opportunities to evaluate markets, policies, and economics through a different lens. I had to keep looking at the publication dates because there were so many words/phrases/slogans used that are verbatim what I read today that I couldn't believe it was published 60 years ago!

    1Reply
  • Andrew Schutsky
    Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y

    My short list out of the last 50+ I've read:

    Favorite all around book - "Cant hurt me" by David Goggins - EXCELLENT book all around.  Close runner up is "Extreme Ownership" by Jocko Willinck

    Favorite Real estate book - "Best ever apartment syndication" book by Joe Fairless

    Favorite Business book - The classic as mentioned many times "Rich Dad Poor Dad" 

    2Reply
  • Gail W.
    Investor · IL · Member since 2019 · 151 posts · 135 votes
    5y

    @jim K 

    @Jim K. I have not read "The Millionaire Next Door" but I will now. This is an amazing post and I believe it goes to the heart of what is wrong in our country. I have lived as you described, it was not until I was older that I realized what it was costing me and my family. I want to thank you for all of the people who are able to see through the mind control because of this statement you have posted.

    On a different note I am glad you are recovering from Covid. My wife and I are going through it right now.

    2Reply
  • Gail W.
    Investor · IL · Member since 2019 · 151 posts · 135 votes
    5y

    This is a very useful thread. I want to add my voice for Proverbs, whether you are Jewish, Christian or otherwise it is full of common sense on how to live a productive life including financial. 

    1Reply
  • Bob S.
    Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    5y

    @Jamie Fankhauser None, millions spend so much time reading and " learning" but never do a dam thing. Connect with someone that is actually doing deals, learn, and apply what you learn. RE IS NOT rocket science 

    Good Luck 

    1Reply
  • Jaquetta T Ragland
    Real Estate Agent · Winston Salem, NC · Member since 2014 · 486 posts · 303 votes
    5y

    @Jamie Fankhauser I liked think and grow rich. It gave a lot of ideas on ways to think differently.

    1Reply
  • Blake Cormier
    Corning, NY · Member since 2020 · 6 posts · 2 votes
    5y
    I'll plus-one many that were already mentioned and add a few more.

    In personal finance, these books contain keys to changing how you view money and your relationship to it:
    - Mr. Money Mustache (blog) - required reading for anyone who is interested in FI/RE, frugality, or relentless self-improvement.
    - Your Money or Your Life - was and is the basis for many of the ideas that turned into the FI/RE movement. As many mentioned, thinking about money as "life force" is a game changer.
    - Rich Dad Poor Dad - the budding capitalist's guide to leverage
    - The Millionaire Next Door - There is a big difference between having money and having wealth. Also if you are looking to leave a legacy for your family, there are some good tips on how to do that without spoiling them.

    Personal development, psychology, and general reading:
    - Never Split the Difference - a book on negotiation by a former FBI hostage negotiator. Flips some of the conventional wisdom on negotiation on its head (like getting someone to say "no" can be more powerful than getting them to say "yes").
    - 7 Habits of Highly Effective People - isn't as woo-woo as its title suggests; it's a very down-to-earth read on how to be more effective at taking care of what you can control while letting go of what you can't.
    - Getting Things Done - Even if you don't implement his full system, the principles are very helpful for anyone who has to do more than one thing in a given day.
    - Essentialism by Greg McKeown - "if it isn't a hell yes, it's a no". Great guide on how to not get yourself dragged into distracting, mundane things that you'd rather not do
    - Any Michael Lewis book - "Moneyball" is a great lesson on how doing the math will give you an edge every time. "The Big Short", "Liar's Poker", "Flash Boys" - no, Wall St isn't as greedy and corrupt as you think it is -- it's even worse than that.
    - The Godfather - No, I don't recommend "an offer they can't refuse" as a REI strategy, but it has some great lessons in suffering setbacks and losses with grace and dignity, and the triumph of a consistent strategy and interpersonal relationships over impulsive decisions and use of force.



      2Reply
    • Fab Ragh
      Rental Property Investor · Bronx, NY · Member since 2019 · 46 posts · 6 votes
      5y

      @Jamie Fankhauser

      I started my journey with “The Richest Man in Babylon”.

      1Reply
    • Alex Keedy
      San Jose, CA · Member since 2020 · 15 posts · 15 votes
      5y

      Good post!

      My favorites/most influential have been:

      Mindset: the new psychology of success

      Millionaire next door

      Millionaire real estate investor

      Rich dad poor dad

      Bluefishing

      7 habits of highly effective people

      Hands off investor

      Thinking in bets

      2Reply
    • Lee Judd
      Lender · Logan, NM · Member since 2017 · 77 posts · 34 votes
      5y

      @Jamie Fankhauser

      Traction by Gino Wickham

      Rich dad Poor dad Robert Kyosaki

      0Reply
    • Shafi Noss
      Lender · Nationwide · Member since 2018 · 571 posts · 310 votes
      5y

      Thinking Fast and Slow by Daniel Kahneman, Behave by Robert Sapolsky, and The Happiness Hypothesis by John Haidt were all books that changed my framework for understanding the world. They're books that all explain how people work. 

      3Reply
    • Joshua Nowell
      Rental Property Investor · New York, NY · Member since 2020 · 24 posts · 15 votes
      5y

      @Joshua D.

      I’m going to have to start reading more books like that. I’ve come to realize that step by step “how to” books leave little to the imagination. And one of my favorite things about entrepreneurship is learning how to find your way. Maybe that’s why I can barely finish the latest “how-to” book I’ve been reading.

      1Reply
    • Steve Vaughan
      Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
      5y

      Die With Zero by Bill Perkins

      Maximize each stage of your life.  ID time buckets and a NW peak. Transforming for the dusty. 

      3Reply
    • Bryant Naylor
      Realtor · Falls Church, VA · Member since 2019 · 23 posts · 16 votes
      5y

      @Jamie Fankhauser

      Of the books I have read, here’s how I would break them down

      In no particular order, I’d highly recommend these four first:

      Rich Dad Poor Dad

      The Richest Man in Babylon

      The Millionaire Next Door

      Set For Life

      Here’s a second tier book list of books I enjoyed and got a lot from...

      Extreme Ownership

      Rental Property Investing

      10X Rule

      Millionaire Real Estate Investor

      The ONE Thing

      E-Myth Revisited

      Vivid Visions

      How to Invest in Real Estate

      A Random Walk Down Wall Street by Burton G. Malkiel

      Sell or Be Sold

      Intelligent Investor

      After reading the books listed above, I am confident you’ll have your mind right and have a solid foundation started, the books below start to get into the weeds and get you thinking more...

      Buy, Rehab, Rent, Refinance, Repeat

      Emerging Real Estate Markets

      Finding and Funding Great Deals

      Long-Distance Real Estate Investing

      16% Solution

      Book on Estimating Rehab Costs

      Tax Strategies for the Savvy Real Estate Investor

      Compound Effect

      Here’s my list for 2021.....I should have already read a few of these....

      Financial Freedom with Real Estate Investing

      Investing in Real Estate with No (and Low) Money

      Recession-Proof Real Estate Investing

      Retire Early with Real Estate

      Rich Dad's Guide to Investing

      Rich Dad's Before You Quit Your Job

      Rich Dad's Cashflow Quadrant

      4-Hour Workweek

      7 Habits of Highly Effective People

      Advanced Tax Strategies

      Managing Rental Properties

      Little Book of Common Sense Investing

      Mindbody Prescription

      Wealth of Nations

      Think and Grow Rich

      Cheers. v/bryant

      1Reply
    • David Richter
      Real Estate Consultant · Member since 2018 · 100 posts · 50 votes
      5y

      Hi @Jamie Fankhauser, 

      Profit First by Mike Michalowicz. Reading this book will literally add zeros to your bank account if you start out with this system.

      I'd also recommend Gary Keller's The Millionaire Real Estate Investor because of the practical tips offered in the book.

      0Reply
    • Kevin Leonce
      Investor · Atlanta · Member since 2016 · 58 posts · 54 votes
      5y

      Hello @Jamie Fankhauser these are a few that had an impact on me;

      1. Rich Dad, Poor Dad by Robert Kyiosaki
      2. The Richest man in Babylon by George Clason
      3. The One Thing by Gary Keller & Jay Papasan
      4. The Millionaire Real Estate Investor by Gary Keller
      5. The E-Myth Revisited by Michael E. Gerber
      6. Never Split the Difference by Chris Voss
      7. Extreme Ownership by Jocko Willkin & Leif Babin
      8. The Obstacle is the Way by Ryan Holiday
      9. As A Man Thinketh by James Allen
      10. The Alchemist by Paulo Coelho

      Hope these help.

      3Reply
    • Josiah Patrick Zebarth
      Rental Property Investor · Denver, CO · Member since 2019 · 76 posts · 70 votes
      5y

      @Jamie Fankhauser

      Hey Jamie,

      The book that most impacted me recently was:

      Man’s Search For Meaning by Victor Frankl

      It is an amazing book about finding meaning in life, never giving up or giving in and a book that was really helpful with quarantine’s on right now. If your interested I made a summary of it to condense it a bit and give some insight.

      Here’s the link:

      https://youtu.be/B_27ooqxBns

      Best, Josiah

      4Reply
    • Account Closed
      Rental Property Investor · Indianapolis, IN · Member since 2020 · 562 posts · 554 votes
      5y

      @Jamie Fankhauser

      One of my recent favorites is The Infinite Game by Simon Sinek.

      It is about mindset in business (and life). Business is not a game that ends after a set period of time. So you shouldn’t manage it with a finite mindset. The goal of business is to keep playing, so it needs to be approached with a more infinite mindset.

      0Reply
    • Leslie A.
      Real Estate Investor · Houston, TX · Member since 2010 · 499 posts · 206 votes
      5y

      @Jamie Fankhauser

      How I Turned 1,000 into a Million in Real Estate in my Spare Time.

      It’s the most thorough RE book with tons of useful info.

      I think it was written in 1959, so quite dated. I just mentally add a zero to all the figures.

      2Reply
    • Joshua Gerger
      Rental Property Investor · Destin, FL · Member since 2019 · 17 posts · 11 votes
      5y

      1.Think and Grow Rich

      2. Rich Dad Poor Dad

      0Reply
    • Devin Jorstad
      Rental Property Investor · Denver, CO · Member since 2019 · 1 post · 0 votes
      5y

      I would definitely have to say “The Go-Giver” by Bob Burg and John David Mann. It is one of my absolute favorites because it has a great story, it is a very easy read, and the concepts are the most valuable whether you pursue real estate or anything else in life!

      0Reply
    • Jason JamesPro Member
      Rental Property Investor · Hillsboro, OR · Member since 2018 · 117 posts · 64 votes
      5y

      . @Jamie Fankhauser The Miracle Morning by Hal Elrod. The SAVERS led to a total paradigm shift for my mindset, attitude, and approach to the day. I went from barely reading one book every 6 months to now reading 4 books per month..... and loving it!! in addition learning how to calm my mind by practicing mindfulness techniques has been instrumental in my personal growth.

      1Reply
    • Wale LawalBusiness Member
      Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
      5y

      @Jamie Fankhauser

      Rich Dad, Poor Dad

      Very help on mindset shift.

      [email protected]832-776-9582Podcast Guest on Show #469
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    • Lisa Tuttle
      Member since 2020 · 3 posts · 1 vote
      5y

      @Jamie Fankhauser

      Mindset!

      I loved learning about how to have a growth mindset and it has helped me in every aspect of my life!

      And I really liked rental property investing by Brandon Turner! I thought it was helpful in outlining the math and I have learned a lot of the basics with it.

      Thanks for the post! I’m excited to add these books to my reading list!

      0Reply
    • JD MartinBusiness Member
      Moderator
      Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
      5y
      Originally posted by @Josiah Patrick Zebarth:

      @Jamie Fankhauser

      Hey Jamie,

      The book that most impacted me recently was:

      Man’s Search For Meaning by Victor Frankl

      It is an amazing book about finding meaning in life, never giving up or giving in and a book that was really helpful with quarantine’s on right now. If your interested I made a summary of it to condense it a bit and give some insight.

      Here’s the link:

      Best, Josiah

       This book is on my list of books I want to read this year. 

      Podcast Guest on Show #243
      Skyline Properties
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      1Reply
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