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

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!

Love it!
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Kaylee WalterbachPro Member
Rental Property Investor · Norman, OK · Member since 2018 · 158 posts · 529 votes
3y
Quote from @Bud Gaffney:

There is no limit on knowledge. RE is always changing! We should all be reading and learning constantly.
Agree! The principles stay the same but the nuances have been changing and will keep changing forever
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Kaylee WalterbachPro Member
Rental Property Investor · Norman, OK · Member since 2018 · 158 posts · 529 votes
3y
Quote from @Luka Milicevic:

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....
100% ^^
This seems like the perfect balance to me. One is too few, but 100 is probably too many. And it's always good to read more than once
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Account Closed
Senior Marketing Manager, Memberships · Denver, CO · Member since 2022 · 48 posts · 276 votes
3y
I think this assumes people only read real estate books for education/knowledge. The truth is people read for many reasons -- inspiration, motivation, confidence, enjoyment, etc. Becoming a successful real estate investor involves a shift in identity that doesn't come from reading a single book or even some hands-on experience. It's exposure to a variety of ideas, experiences, & stories that inspires people to take action and start their own unique investing journey.

Having said that, I'm impulsive and only read one book before I bought my first investment -- Long Distance Real Estate Investing. It made a lot of sense, inspired confidence, gave me enough options. Since then, I've branched off and implemented different strategies with books like Short-Term Rental, Long-Term Wealth, 30-Day Stay, Recession Proof Real Estate Investing.

If you were to read just one book to get started right now...Real Estate Rookie would be the best bet. It doesn't let beginners wander off into "education addiction" or analysis paralysis but literally forces them to take action.
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Manny VasquezBusiness Member
Real Estate Agent · Orange County · Member since 2022 · 318 posts · 293 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 is exactly how I feel about many self-help books. After what I consider the originals of self-help, Dale Carnegie, Napoleon Hill, James Allen. David Schwartz, amongst others, every other author has regurgitated the same information. They may say it a different way, provided slightly different examples and say the same info in their own words, but when it boils all down it's all the same. Nonetheless, I am still thankful for that same, regurgitated information (no matter how repetitive) because let's face it, sometimes we need to hear the same message over, and over, and over again before it seeps in. Or, we hear the same message with a slightly different "accent", "different spin", or "different example" and it makes all the difference in the world.

An example of this is how many times do we agents and EVERYONE on BP recommend to take professional pictures when listing your property on the MLS, Airbnb, VRBO, etc? Yet we still see many people cheap out.
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Carlos Ptriawan
Member since 2019 · 7k+ posts · 4k+ 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
yep
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Joe VilleneuvePro Member
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
3y
Quote from @Carlos Ptriawan:

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
yep
It's a actually a lot simpler than that. Do you know how I learnt the more simpler process?
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Grant ShipmanPro Member
OP
Rental Property Investor · Estes Park, CO · Member since 2017 · 283 posts · 1k+ votes
3y
Quote from @Sally Fairchild:

@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.

right-on! life long learning is so key! I read over 25 books in 2022 and 39 in 2021 (had my first baby in 2022).
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Grant ShipmanPro Member
OP
Rental Property Investor · Estes Park, CO · Member since 2017 · 283 posts · 1k+ votes
3y
Quote from @Kaylee Walterbach:

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.

thanks for sharing. How many strategies do you think someone ought to learn before they try one out?
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John Mullen
Member since 2021 · 64 posts · 68 votes
3y
Hmm, I'm gonna have to go with the book that started me on this educational journey: David Greene's BRRRR book. Once I realized this could be done simply, it was a lightbulb moment.
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Grant ShipmanPro Member
OP
Rental Property Investor · Estes Park, CO · Member since 2017 · 283 posts · 1k+ votes
3y
Quote from @John Mullen:

Hmm, I'm gonna have to go with the book that started me on this educational journey: David Greene's BRRRR book. Once I realized this could be done simply, it was a lightbulb moment.

Really cool to hear! Have you stayed w/that or have you added additional strategies?
4 Reply
John Mullen
Member since 2021 · 64 posts · 68 votes
3y
Quote from @Grant Shipman:

Quote from @John Mullen:

Hmm, I'm gonna have to go with the book that started me on this educational journey: David Greene's BRRRR book. Once I realized this could be done simply, it was a lightbulb moment.

Really cool to hear! Have you stayed w/that or have you added additional strategies?

Still just looking to BRRRR for the time being (first deal about halfway rehabbed atm). But I've also been influenced lately by podcast and local meetup buzz about moving from short term to mid term rentals. Lots of opportunity for that in Columbus around big hospitals (travel nurses).
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Kaylee WalterbachPro Member
Rental Property Investor · Norman, OK · Member since 2018 · 158 posts · 529 votes
3y
Quote from @Grant Shipman:

Quote from @Kaylee Walterbach:

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.

thanks for sharing. How many strategies do you think someone ought to learn before they try one out?
I don't think there's a set number—just depends on how long it takes to find a strategy you feel comfortable with.

For example, say I'm brand-new to real estate, and I pick up a book on STRs today. I'm excited, do some research, then realize I'm not too sure about the current market.

Maybe book 2 is about creative financing, which is great knowledge to have and one more piece of the puzzle.

Then maybe book 3 is about medium-term rentals, something clicks, and—bam! I'm ready to creatively finance an MTR deal!

Granted, all this reading could be going on while I'm sitting back and waiting on a great deal to show up. Maybe I'm halfway through book 2 and see a great deal... so I drop the book and buy the property instead. I can always finish reading it after the closing table!
[email protected]
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Grant ShipmanPro Member
OP
Rental Property Investor · Estes Park, CO · Member since 2017 · 283 posts · 1k+ votes
3y
Quote from @John Mullen:

Quote from @Grant Shipman:

Quote from @John Mullen:

Hmm, I'm gonna have to go with the book that started me on this educational journey: David Greene's BRRRR book. Once I realized this could be done simply, it was a lightbulb moment.

Really cool to hear! Have you stayed w/that or have you added additional strategies?

Still just looking to BRRRR for the time being (first deal about halfway rehabbed atm). But I've also been influenced lately by podcast and local meetup buzz about moving from short term to mid term rentals. Lots of opportunity for that in Columbus around big hospitals (travel nurses).

MTR is great- my realtor just BRRR'ed a house in Tyler, TX for MTR. He says Beyond House Hacking houses I do, Airbnb, and Soberliving make more money with less work (except Airbnb takes more work of course). He just wanted the MTR to diversify and for fun- he enjoys variety. Keep going strong w/that halfway rehab- stick to your guns and don't get distracted. success moves us forward and failures are hard to recover from in my experience- press on w/power John!
5 Reply
Grant ShipmanPro Member
OP
Rental Property Investor · Estes Park, CO · Member since 2017 · 283 posts · 1k+ votes
3y
Quote from @Kaylee Walterbach:

Quote from @Grant Shipman:

Quote from @Kaylee Walterbach:

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.

thanks for sharing. How many strategies do you think someone ought to learn before they try one out?
I don't think there's a set number—just depends on how long it takes to find a strategy you feel comfortable with.

For example, say I'm brand-new to real estate, and I pick up a book on STRs today. I'm excited, do some research, then realize I'm not too sure about the current market.

Maybe book 2 is about creative financing, which is great knowledge to have and one more piece of the puzzle.

Then maybe book 3 is about medium-term rentals, something clicks, and—bam! I'm ready to creatively finance an MTR deal!

Granted, all this reading could be going on while I'm sitting back and waiting on a great deal to show up. Maybe I'm halfway through book 2 and see a great deal... so I drop the book and buy the property instead. I can always finish reading it after the closing table!

Oh totally- really good points! I hear you saying the main thing is to not let our learning/prep for investing get in the way of our actual investing. We don't need a cheap or expensive hobby, we need cash flow! BOO-YAH!!!!
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