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

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

Grant ShipmanPro Member
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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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.

See this reply in the discussion

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  • Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    3y
    Quote from @Joe Villeneuve:
    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.

     RE is not rocket science though many make it seem that way. Buy low, fix right, rent, simple, NOT easy but simple. Or lock up a property, and flip the contract make money, just know your numbers. I made 19k my 1st month doing just that.  I have zero college education, never read a RE book, listen to a podcast, or been to any seminar, yet there is really nothing in RE I have not done. " Give me guys that are poor smart and hungry vs a college grad any day " :)

    All the best 

  • 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? 


     If read my response I DID say sure go ahead, but hands on is much more beneficial. How many people you know that read, go to seminars and spend 1ks and 1ks and never do a deal ? Get out there and DO IT, with guidance vs reading, 

    All the best 

  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
    3y
    Quote from @Bob S.:
    Quote from @Joe Villeneuve:
    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.

     RE is not rocket science though many make it seem that way. Buy low, fix right, rent, simple, NOT easy but simple. Or lock up a property, and flip the contract make money, just know your numbers. I made 19k my 1st month doing just that.  I have zero college education, never read a RE book, listen to a podcast, or been to any seminar, yet there is really nothing in RE I have not done. " Give me guys that are poor smart and hungry vs a college grad any day " :)

    All the best 

    Do you know what you could have done with that added education?
  • 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? 


     If read my response I DID say sure go ahead, but hands on is much more beneficial. How many people you know that read, go to seminars and spend 1ks and 1ks and never do a deal ? Get out there and DO IT, with guidance vs reading, 

    All the best 

    Education must come in three forms to be complete:
    1 - Learn before you do
    2 - Do to learn from mistakes
    3 - Take #1 and #2, combine, and take off
    ...actually there's a 4th,...maybe the most important one,,,
    4 - Never stop learning.
  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
    3y
    Quote from @Joe Villeneuve:
    Quote from @Bob S.:
    Quote from @Joe Villeneuve:
    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.

     RE is not rocket science though many make it seem that way. Buy low, fix right, rent, simple, NOT easy but simple. Or lock up a property, and flip the contract make money, just know your numbers. I made 19k my 1st month doing just that.  I have zero college education, never read a RE book, listen to a podcast, or been to any seminar, yet there is really nothing in RE I have not done. " Give me guys that are poor smart and hungry vs a college grad any day " :)

    All the best 

    Do you know what you could have done with that added education?
    REI is a rocket science in two levels:
    1 - Shooting of fireworks and "pocket" rockets in your backyard.
    2 - NASA
  • 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? 


     If read my response I DID say sure go ahead, but hands on is much more beneficial. How many people you know that read, go to seminars and spend 1ks and 1ks and never do a deal ? Get out there and DO IT, with guidance vs reading, 

    All the best 

    I bet there are just as many people who did the "hands on" way of learning, that also stopped after they lost money (as opposed to "spent" $1000's of dollars on seminars), but I also bet they lost more money on one deal than they could have spent on seminars.
  • Rental Property Investor · Boston, MA · Member since 2019 · 2k+ posts · 1k+ votes
    3y

    There is no limit on knowledge. RE is always changing! We should all be reading and learning constantly.

  • Real Estate Agent · Chicago, IL · Member since 2018 · 1k+ posts · 1k+ votes
    3y
    Quote from @Nathan Gesner:
    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. :)


     This x1000. Most "new" books today recycle old concepts and repackage them with very minor twists. When you read enough books on the same topic (real estate, business, self development), you see that there aren't really new ideas. At some point you have to know when you've hit the point of diminishing returns with reading and transition to doing more than reading.

  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ 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!


    Yes, he would have been a success at anything he did, he was a great businessman.  But as it relates to this topic, I would recommend mastering various facets of the industry one at a time. This is not a martial art so not really comparable. Your life does not depend on making that perfect strike.

    And like many of the older experts on here, I think all this reading books, YouTube videos, Social Media, Etc. is largely a huge waste of time. That same time could be spent in the field, getting your hands dirty, failing and learning the real-world tricks. 

    I suspect a LOT of the people that are doing the book/YT/FB/SocMed/Etc thing are just avoiding actually doing a deal. There is zero risk involved in the former and a huge amount of risk involved in the latter....

  • Rental Property Investor · Member since 2021 · 385 posts · 197 votes
    3y

    I don't quite agree with your theory. I feel like by reading several books and listening to real estate podcasts, I have picked up on so many small helpful tips and tricks along the way that have helped me arrive at my own real estate investing strategy. I think you don't have to follow any one else's strategy word for word, instead have enough resources to help you arrive at your own strategy. 

  • Specialist · Portland, OR · Member since 2010 · 3k+ posts · 1k+ votes
    3y

    @Grant Shipman the Art of the Deal. Some of the old classics are best to start with.

    Personally when I was working and working RE I did not have time to read casual books. 

    You are better off forming relationships with people in the biz then reading books but nothing happens until you start doing.

  • Property Manager · Watertown, NY · Member since 2021 · 142 posts · 78 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.


    There's so much truth to this! I've played a bard for quite some time and it was a struggle initially as I naturally have a more introverted personality. But you start understanding how coming out of your shell, working as a team and thinking about the bigger picture can be a game changer (quite literally lol). 

  • Real Estate Agent · Nashville, TN · Member since 2015 · 2k+ posts · 2k+ votes
    3y

    The thing is that one real estate book won't give you ALL the answers. I do agree with reading several, especially when you are getting started so you can learn as much as you can. 

    I very much don't subscribe to the "read a book a week" club. I think that reading 1 book 5 times is better than reading 5 books 1 time. Reading too many books, too often won't change behaviour. You won't have enough time to implement what you just learned, you will be on to the next thing, and then the next thing and never have time to actually implement. 

    The most important thing though is at some point to put the books down and start taking action....

  • Grant ShipmanPro Member
    OP
    Rental Property Investor · Estes Park, CO · Member since 2017 · 283 posts · 1k+ votes
    3y
    Quote from @Manny Vasquez:
    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."


    Sorry if I missed you on this. I am not in the new/wanna-e be stage- it sounds like you think I might be there. I have a successful PMC, retained rental properties, renovation company, BRRR's, syndications, MFR, among others. This post is to encourage those in the new/wanna-be stage to consider mastering one book rather than getting addicted and go on constant book benders that create hangovers rather than execution. I read 20-30 books per year, so I very much believe in life long learning- w/out CANI (constant and never ending improvement) my life would not be near as fun. Go live your day dreams Manny and thanks for sharing :)

  • Grant ShipmanPro Member
    OP
    Rental Property Investor · Estes Park, CO · Member since 2017 · 283 posts · 1k+ votes
    3y
    Quote from @Jeff S.:

    @Grant Shipman the Art of the Deal. Some of the old classics are best to start with.

    Personally when I was working and working RE I did not have time to read casual books. 

    You are better off forming relationships with people in the biz then reading books but nothing happens until you start doing.


     Cool to hear- I really appreciated that book.  

  • Investor · Raleigh, NC · Member since 2022 · 113 posts · 71 votes
    3y
    Quote from @Grant Shipman:

    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.


     Hi Grant,

    This is a great post and I agree a lot of investors or people looking to learn more get stuck in the cycle of trying to consume anything and everything REI. Now I am not talking down about that but becoming a master of one trade vs average at all of them I find to be great.

    I am not sure on the strategy I would pick just yet as I am still figuring that out. I still want to get into STR and MTR but for the long term I see LTR as a safe bet and one I am good with.

    Starting out I would recommend LTR/house hacking so a beginner can get the feel of the fundamentals of what it takes to own a house.

  • Grant ShipmanPro Member
    OP
    Rental Property Investor · Estes Park, CO · Member since 2017 · 283 posts · 1k+ votes
    3y

    I love all the thoughts shared.  It seems we all share common thoughts on the important thing for a new/wanna-be investor is to learn in order to act and hands-on is important and relationships are important.  I think Bruce Lee would feel at home in this convo...haha :)  For all you newbies/wanna-be's- be intentional about your learning- in the form of books/teaching, relationships, & execution/hands-on.  Rather than staying in and polishing the tools you've gained- go out and use those tools!  Master a kick and use it!  Rinse repeat.  That's my encouragement.  Let's GO LIVE OUR DAY DREAMS! 

  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
    3y
    Quote from @Paul De Luca:
    Quote from @Nathan Gesner:
    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. :)


     This x1000. Most "new" books today recycle old concepts and repackage them with very minor twists. When you read enough books on the same topic (real estate, business, self development), you see that there aren't really new ideas. At some point you have to know when you've hit the point of diminishing returns with reading and transition to doing more than reading.

    You're reading the wrong books.
  • Sally FairchildPro Member
    Investor · Newport Beach, CA · Member since 2016 · 106 posts · 84 votes
    3y

    @Grant Shipman

    Because one book or one person, only has a limited amount of knowledge and experience. I want to keep learning and growing and listening to new ideas and new inspirations. And sometimes those things come from books and people that lived long ago and some will come from people at are not even born yet.

  • Real Estate Agent · Chicago, IL · Member since 2018 · 1k+ posts · 1k+ votes
    3y
    Quote from @Joe Villeneuve:
    Quote from @Paul De Luca:
    Quote from @Nathan Gesner:
    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. :)


     This x1000. Most "new" books today recycle old concepts and repackage them with very minor twists. When you read enough books on the same topic (real estate, business, self development), you see that there aren't really new ideas. At some point you have to know when you've hit the point of diminishing returns with reading and transition to doing more than reading.

    You're reading the wrong books.

     That's a bold assumption. Apparently we're not reading the same books, or we're drawing different conclusions at least.

  • Jay ThomasPro Member
    Real Estate Agent · Houston, TX · Member since 2021 · 1k+ posts · 715 votes
    3y

    It doesn't matter how much you know about Real Estate, if your "box" is too small to think outside of the box and turn opportunities into deals. Having a big box means having an open mind as well as being willing to explore new strategies and ideas that can lead to success. Those who are able to do this will be able to take advantage of the many possibilities Real Estate has to offer. So, don't limit yourself—expand your horizons and aim high! With a bigger box, you'll be sure to find the real estate deals of your dreams.

    No matter what Real Estate opportunity is presented to you, always remember that having a bigger box means endless possibilities. Don't be afraid to take the leap and reap the rewards that come with it! Good luck on your Real Estate journey and happy deal-making!

  • Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes
    3y

    @Grant Shipman I like this post, and your thought behind it. But the problem is not the book/program content itself, it's the underlying fundamental thought process of the person(s) getting and reading the content. 

    I could say "The Richest Man in Babylon" and be both smack right, and wrong, universally at same time. Because it all hinges on the readers thought process there coming to it with. This book will give a person the #1 most important and necessary ingredient to "make it" in REI, that's an INVESTORS mindset. BUT, most are not looking for that.

    If that reader, like oh-so-many-a-noob's today, are going to content with a mindset expectation of getting a franchise-like step by step, action-by-action road map to making big $. Well, it doesn't matter what book we say, because nothing will work like that. Those people seek out content looking for a McDonalds like franchisee handbook of how to open and run the McD's from day 1-1000, what they are expecting does not exist. 

    I spent some time in franchise systems, I know that world very well and I am serious, what those who bought a franchise thinking, how we worked on launch, it's the exact same "persons" in manner of talk, expectations etc. as the REI "noobs" in this edu-addiction cycle.

    We see it every hour of every day on these forums. people asking the most finite detail of questions in a way where they don't want answers, they want INSTRUCTIONS. And those instructions to be absolutely, without question, 100% certain and absolute to "work". 

    The truth is, ALL the books and programs work, AND at same time, they ALL fail to work, universally. It's the readers mindset that determines the difference. Are they seeking instructions to follow, or knowledge to utilize? 

    My 1st deal I ever did, as my own self as the investor (I had done deals before inside of investment groups) I did in early '09'. I did that deal as a true-real-deal $0.00 down, $0.00 invested flip that was nearly a $100k flip budget alone. My entire "book edu" background was this dusty old Carleton Sheets book that had to have been minimum a decade old, if not 2+. That's it, BUT it's because my focus was I'm doing this, I didn't need or even want someones "plan", I only sought knowledge. AND guess what, I barely got any from it, lol. My biggest knowledge gain was "well, long story short, a person can make things happen" so that's what I did, I just went out and I made things happen. 

    There is no book in existence that can teach this, or better said, get it through someones head and into there adoption and doing of it. 

    I did it like a Carpenter. I got what information I NEEDED and then I just started doing. I asked questions where needed but for most part I just DID. The more I did, the better I got at it. The better I got, the more other stuff started making sense, and than I just started adding a new skill-set to my "tool-box" as I went. 

    It's a process, and that's what books on REI never accurately convey. You will NEVER have it all sorted from a book, not even most or a lot of it BUT you'll get enough to get going and that's all that matters.

    A person can read about riding a bike for a decade straight, the moment they actually get on one guess what, there gonna fall flat on there face. Because there is 2 very different knowing's in life. There is learning, and actually KNOWING. 

    So, all the books, doesn't matter, it's just learning. Pick 1, pick em all, pick none, it matters little. What matters is your MINDSET, because if your focused on the doing, and getting information to aid your doing, it's gonna happen, it's inevitable. BUT, if your looking for instructions to hand you the doing, well, congrat's your a professional student. 

    The book has no impact on this. 

  • Chicago · Member since 2018 · 216 posts · 165 votes
    3y

    I've only made one book my bible where I follow it and it's been the key to my success. 

    David Lindahl's Multi-Family Millions. 

    It's fantastic. Tells you how to analyze property, how to make the calculations and what metrics you should aim for. The "forced appreciation" approach works every time. It's foolproof. If you improve units and push up the rents the value of the building will follow. I've doubled the value of some of my buildings and gentrification has helped me as well. 

  • Rental Property Investor · Norman, OK · Member since 2018 · 158 posts · 529 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. 


     Agree! Different books for different strategies.

  • Rental Property Investor · Norman, OK · Member since 2018 · 158 posts · 529 votes
    3y
    Quote from @Grant Shipman:

    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.

    I see what you're saying! It's easy to get caught up in "all learning, no action," and as a (semi) newbie I absolutely agree. Still, why not do both at once? Someone can take action AND keep learning at the same time.

    It's difficult and sometimes scary to make moves on real-life deals, but by no means is reading/learning taking up so much of my time that it's stopping me from doing it. I listen to audiobooks when I'm driving, listen to podcasts cooking dinner, etc. but I still have time set aside for analyzing deals and looking for properties.

    Right now, if I was to master a single REI book, I'd pick something that's suited to the current market. But that could always change, too.

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