Rather Than a BUNCH of books- why not master 1?

Rental Property Investor · Estes Park, CO · Member since 2017 · 283 posts · 1k+ votes

There's an addiction new or wanna-be investors have called education addiction. They drink books, articles, podcasts, classes, etc until they have a blurry-eyed hangover and then they repeat. I recommend mastering 1 book instead. If you were to master 1 real estate investment book, or recommend mastering only 1 book to an aspiring/newer person, what book would it be? This is in regard to buy-and-hold, b/c this is the passive-income ideal for REI.

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Chris John

Member since 2020 · 671 posts · 937 votes

I truly believe I learned as much about plotting real estate deals by playing Dungeon and Dragons as a kid as I did by reading real estate books, etc. Anyone can learn rules, but decision making, thinking outside the box, working with others, building a team, etc. are more important skills in my opinion. And, in my opinion, playing D&D actually helped build those skills.

Ladies, sorry, I'm already married. You're gonna have to go looking for your D&D guy in some other basement. haha.

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Joe VilleneuvePro Member
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
3y
The more you know, the more opportunities you can turn into deals. Not every "book" applies to every deal...no matter how well you know it. The one thing in life that has no limits, is the size of your "box".
The winners in life, and in REI, are the ones with the biggest box.
7 Reply
Chris John
Member since 2020 · 671 posts · 937 votes
3y
I truly believe I learned as much about plotting real estate deals by playing Dungeon and Dragons as a kid as I did by reading real estate books, etc. Anyone can learn rules, but decision making, thinking outside the box, working with others, building a team, etc. are more important skills in my opinion. And, in my opinion, playing D&D actually helped build those skills.
Ladies, sorry, I'm already married. You're gonna have to go looking for your D&D guy in some other basement. haha.
12 Reply
Chris Webb
Investor · Central Virginia · Member since 2020 · 394 posts · 253 votes
3y
I re-read the KW books every few years, MREI and "Hold", they are great for strategy. I think this concept can be replaced by YouTube channels like Pace, One Rental at a Time and others. That way you get weekly content with similar foundations.
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Grant ShipmanPro Member
OP
Rental Property Investor · Estes Park, CO · Member since 2017 · 283 posts · 1k+ votes
3y
Quote from @Chris Webb:

I re-read the KW books every few years, MREI and "Hold", they are great for strategy. I think this concept can be replaced by YouTube channels like Pace, One Rental at a Time and others. That way you get weekly content with similar foundations.

I was totally considering "Hold" as well, if I was to pick one.
5 Reply
Grant ShipmanPro Member
OP
Rental Property Investor · Estes Park, CO · Member since 2017 · 283 posts · 1k+ votes
3y
Quote from @Joe Villeneuve:

The more you know, the more opportunities you can turn into deals. Not every "book" applies to every deal...no matter how well you know it. The one thing in life that has no limits, is the size of your "box".
The winners in life, and in REI, are the ones with the biggest box.

I totally agree. How do you pair that w/what Bruce Lee said?
5 Reply
Grant ShipmanPro Member
OP
Rental Property Investor · Estes Park, CO · Member since 2017 · 283 posts · 1k+ votes
3y
Quote from @Chris John:

I truly believe I learned as much about plotting real estate deals by playing Dungeon and Dragons as a kid as I did by reading real estate books, etc. Anyone can learn rules, but decision making, thinking outside the box, working with others, building a team, etc. are more important skills in my opinion. And, in my opinion, playing D&D actually helped build those skills.
Ladies, sorry, I'm already married. You're gonna have to go looking for your D&D guy in some other basement. haha.

This is so true and hilarious! I think it is important to learn specifics of REI play just like DD specific play, but the most important REI success skills truly have little to do w/REI. Seriously, thanks for the laugh w/your last line!
6 Reply
Joe VilleneuvePro Member
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
3y
Quote from @Grant Shipman:

Quote from @Joe Villeneuve:

The more you know, the more opportunities you can turn into deals. Not every "book" applies to every deal...no matter how well you know it. The one thing in life that has no limits, is the size of your "box".
The winners in life, and in REI, are the ones with the biggest box.

I totally agree. How do you pair that w/what Bruce Lee said?

I don't.
Bruce Lee would make a terrible REI
2 Reply
Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
3y
The Unofficial Guide to Real Estate Investing by Spencer Strauss. It has enough of what you need to get started.
The DIY Landlord Book4.7247 Reviews
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1 Reply
Eliott Elias
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
3y
You want to be well versed in real estate, you want to be able to see every situation and figure out the highest and best strategy for the property. If you're only good at flipping homes it takes you out of the running for a lot of deals.
1 Reply
Bob S.
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
3y
How about stop reading books ( I never have read one on RE and have done it all ) and simply connect with those doing deals, learn then apply what you learn, Hands on Trumps books any day,
Rental, buy right, fix right, rent, not rocket science
Good luck
5 Reply
Manny VasquezBusiness Member
Real Estate Agent · Orange County · Member since 2022 · 318 posts · 293 votes
3y
Real Estate has many, many "winning plays". You can stick to one strategy and be successful. For example, you can LTR, MTR, or STR, you can flip, you can BRRRR, you can house hack OR.......you can combine any of these strategies for an overall winning combination. The problem in mastering 1 book is that you will never know about the other concepts/strategies that can make you successful.
I liken this example to a football team: You CAN be very successful by being just a "running team", or an "aerial team" or even a "defense first" team. However, you can increase your chances of winning a game by being able to run, throw, kick and play defense very well.
2 Reply
John Mullen
Member since 2021 · 64 posts · 68 votes
3y
Agreed, @Grant Shipman. The responses above contain excellent advice to continue learning throughout one’s real estate journey. But speaking as a very new investor, I spent years in analysis paralysis before taking any action. Consuming new IG or podcast content is fun, but it’s a hit of dopamine you haven’t earned. BP is an entertainment product as much as it is a community of investors. Not a knock, just a reality of entertainment culture. Better to read 1-3 books and take action than 10 books and do nothing.
Also, I found that for my temperament, having the accountability and external processing capacity of a business partner was necessary to get me off my couch.

Thanks for your advice, everybody!
2 Reply
Grant ShipmanPro Member
OP
Rental Property Investor · Estes Park, CO · Member since 2017 · 283 posts · 1k+ votes
3y
Quote from @Joe Villeneuve:

Quote from @Grant Shipman:

Quote from @Joe Villeneuve:

The more you know, the more opportunities you can turn into deals. Not every "book" applies to every deal...no matter how well you know it. The one thing in life that has no limits, is the size of your "box".
The winners in life, and in REI, are the ones with the biggest box.

I totally agree. How do you pair that w/what Bruce Lee said?

I don't.
Bruce Lee would make a terrible REI

that's hilarious. I'm guessing the dude would probably have crushed it in REI like he crushed it in martial arts and business. Have you heard that guys story? wowz!
5 Reply
Grant ShipmanPro Member
OP
Rental Property Investor · Estes Park, CO · Member since 2017 · 283 posts · 1k+ votes
3y
Quote from @Nathan Gesner:

The Unofficial Guide to Real Estate Investing by Spencer Strauss. It has enough of what you need to get started.

That's cool I haven't read that one. What makes you choose it over Turner's BP bigger book?
5 Reply
Grant ShipmanPro Member
OP
Rental Property Investor · Estes Park, CO · Member since 2017 · 283 posts · 1k+ votes
3y
Quote from @Eliott Elias:

You want to be well versed in real estate, you want to be able to see every situation and figure out the highest and best strategy for the property. If you're only good at flipping homes it takes you out of the running for a lot of deals.

yes, but remember I'm talking about people in the new/wanna-be REI stage.
4 Reply
Grant ShipmanPro Member
OP
Rental Property Investor · Estes Park, CO · Member since 2017 · 283 posts · 1k+ votes
3y
Quote from @Bob S.:

How about stop reading books ( I never have read one on RE and have done it all ) and simply connect with those doing deals, learn then apply what you learn, Hands on Trumps books any day,
Rental, buy right, fix right, rent, not rocket science
Good luck

Am I understanding you right? You are recommending someone who is in the new/wanna-be stage to not even read a single book on real estate investing? I understand hands-on beats a book any day, but why not benefit from both if someone wants to?
6 Reply
Grant ShipmanPro Member
OP
Rental Property Investor · Estes Park, CO · Member since 2017 · 283 posts · 1k+ votes
3y
Quote from @Manny Vasquez:

Real Estate has many, many "winning plays". You can stick to one strategy and be successful. For example, you can LTR, MTR, or STR, you can flip, you can BRRRR, you can house hack OR.......you can combine any of these strategies for an overall winning combination. The problem in mastering 1 book is that you will never know about the other concepts/strategies that can make you successful.
I liken this example to a football team: You CAN be very successful by being just a "running team", or an "aerial team" or even a "defense first" team. However, you can increase your chances of winning a game by being able to run, throw, kick and play defense very well.

So how many strategies do you recommend a new/wanna-be investor read before they try to master one?
5 Reply
Grant ShipmanPro Member
OP
Rental Property Investor · Estes Park, CO · Member since 2017 · 283 posts · 1k+ votes
3y
Quote from @John Mullen:

Agreed, @Grant Shipman. The responses above contain excellent advice to continue learning throughout one’s real estate journey. But speaking as a very new investor, I spent years in analysis paralysis before taking any action. Consuming new IG or podcast content is fun, but it’s a hit of dopamine you haven’t earned. BP is an entertainment product as much as it is a community of investors. Not a knock, just a reality of entertainment culture. Better to read 1-3 books and take action than 10 books and do nothing.
Also, I found that for my temperament, having the accountability and external processing capacity of a business partner was necessary to get me off my couch.

Thanks for your advice, everybody!

awesome to get a little window into your REI journey. I 100% agree. What specific REI book has helped you the most so far in your very new investor journey?
5 Reply
Manny VasquezBusiness Member
Real Estate Agent · Orange County · Member since 2022 · 318 posts · 293 votes
3y
Quote from @Grant Shipman:

Quote from @Manny Vasquez:

Real Estate has many, many "winning plays". You can stick to one strategy and be successful. For example, you can LTR, MTR, or STR, you can flip, you can BRRRR, you can house hack OR.......you can combine any of these strategies for an overall winning combination. The problem in mastering 1 book is that you will never know about the other concepts/strategies that can make you successful.
I liken this example to a football team: You CAN be very successful by being just a "running team", or an "aerial team" or even a "defense first" team. However, you can increase your chances of winning a game by being able to run, throw, kick and play defense very well.

So how many strategies do you recommend a new/wanna-be investor read before they try to master one?

That my friend is all up to you. You should read about them all (but that may take a long time unless you are a fast reader). In the very least, consume other sources of information, like the different BP Podcasts (last I checked they have over 700 episodes), Real Estate Rookie, etc. to determine what you will like. I also want to say that there is nothing wrong with the "Buy & Hold" method....that strategy has worked very, very well, for millions of people throughout history, and if you apply it well, will work wonders for you.
I'll leave you with one more thought: Do you believe test-driving one car will do the trick or do you believe test-driving multiple vehicles before deciding which one to buy will do the trick? Lastly, I'm gonna use an old, old cliche here which you have undoubtedly heard before: "You will never know what you like unless you try it."
0 Reply
Mike Dymski
Investor · Greenville, SC · Member since 2016 · 5k+ posts · 13k+ votes
3y
I read constantly but am in Bob's camp when it comes to real estate. Analyzing real deals (and making offers) is by far the best and and fastest way to learn the market, narrow criteria, and build a network. There is nothing like having a real opportunity on the line to accelerate the learning curve. Reading in parallel helps too.
0 Reply
Bob S.
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
3y
Quote from @Grant Shipman:

Quote from @Bob S.:

How about stop reading books ( I never have read one on RE and have done it all ) and simply connect with those doing deals, learn then apply what you learn, Hands on Trumps books any day,
Rental, buy right, fix right, rent, not rocket science
Good luck

Am I understanding you right? You are recommending someone who is in the new/wanna-be stage to not even read a single book on real estate investing? I understand hands-on beats a book any day, but why not benefit from both if someone wants to?

Again, I never read one RE book or been to a guru seminar and have done it all. Connect with those doing deals, most books do not provide " real life situations " If you want to get an idea sure go ahead but get yourself to a local meeting. You will learn more in a week then a year reading books
All the best
0 Reply
Joe VilleneuvePro Member
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
3y
Quote from @Grant Shipman:

Quote from @Joe Villeneuve:

Quote from @Grant Shipman:

Quote from @Joe Villeneuve:

The more you know, the more opportunities you can turn into deals. Not every "book" applies to every deal...no matter how well you know it. The one thing in life that has no limits, is the size of your "box".
The winners in life, and in REI, are the ones with the biggest box.

I totally agree. How do you pair that w/what Bruce Lee said?

I don't.
Bruce Lee would make a terrible REI

that's hilarious. I'm guessing the dude would probably have crushed it in REI like he crushed it in martial arts and business. Have you heard that guys story? wowz!
What would make you say that?
0 Reply
Joe VilleneuvePro Member
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
3y
Quote from @Bob S.:

Quote from @Grant Shipman:

Quote from @Bob S.:

How about stop reading books ( I never have read one on RE and have done it all ) and simply connect with those doing deals, learn then apply what you learn, Hands on Trumps books any day,
Rental, buy right, fix right, rent, not rocket science
Good luck

Am I understanding you right? You are recommending someone who is in the new/wanna-be stage to not even read a single book on real estate investing? I understand hands-on beats a book any day, but why not benefit from both if someone wants to?

Again, I never read one RE book or been to a guru seminar and have done it all. Connect with those doing deals, most books do not provide " real life situations " If you want to get an idea sure go ahead but get yourself to a local meeting. You will learn more in a week then a year reading books
All the best
I rank this tight up there with trying to build a car from scratch, without any instructions.
0 Reply
Grayson Spittel
Rental Property Investor · Wake Forest, NC · Member since 2017 · 128 posts · 131 votes
3y
@Grant Shipman think Bruce's quote works perfectly when you live in a bubble or work in an industry that is unchanging. Bruce Lee was a fighter - the rules didn't change from fight to fight. The strategies and what worked/didn't work didn't change (as in all the sudden one fight he didn't have to start doing it on stilts). But, Real Estate is ever changing and evolving. Yes, the core fundamentals aren't rocket science like so many have mentioned. But to Joe's point - the bigger your box, the more tools you have in your tool bag, and the more opportunities you'll find where they are needed to do the job. LTRs, MTR, STRs, flips, commercial, land flipping, mobile homes, glamping, they all have their space. In REI, I'd like to be the life long learning that has practiced 10 "punches" 100 times.
0 Reply
Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
3y
Quote from @Grant Shipman:

I have not read Brandon's book on Rental Investing or Managing Rentals. I was already beyond that when I started on Biggerpockets. I can tell you that I just read his books on Multi-family investing and felt they were full of fluff. It's a two-part series that could have easily fit into a single book. I want specifics, not silly comparisons to lemonade stands or whatever.
If you read a book written 30+ years ago, it is full of practical advice and will be complete book. Read a book today and half of it is fluff, advertising for the next book that has the "real secrets" that couldn't' fit into this book, links to their blog and regular updates with "more secrets" that couldn't fit in the book, etc.
Hal Elrod is a great example. Dude is super-high energy and always has been, even before his accident. He writes a book that has some good advice, but it could have been completely explained in half the time. Then he takes that same information, adds a little twist, and markets it to CEOs. And fitness coaches. And single moms. And teachers. And doctors. He literally has 15 books all saying the same thing but claiming to have an extra secret that applies only to a particular demographic when the entire thing is exactly the same and could be explained fully in a 20-page booklet!
We have a lot of information, but very little wisdom today. Personal rant. :)
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