Investor · Dallas, TX · Member since 2023 · 11 posts · 5 votes
Hello All!
My name is Corey Flood, and I'm new to the Bigger Pockets forum. I wanted to reach out and ask how many of you got started with real estate investing. Outside of Bigger Pockets what other educational resources did you use to learn? What books are you reading?
Always down to have good conversations as well, feel free to reach out to me or give me a follow! Would love to hear from some of you.
I would love to connect and send over some great podcasts/readings that I have found very helpful. In the meantime check out this article https://www.biggerpockets.com/...
I read "Rich Dad, Poor Dad" then talked to my father-in-law who was a REALTOR. He agreed real estate investing was a good idea, but gave me no formulas or other advice. He just told me of a townhome on the market that he liked, I bought it, and it worked out. I wouldn't advise that today, but real estate is a very forgiving investment vehicle that erases a lot of mistakes.
I read "Rich Dad, Poor Dad" then talked to my father-in-law who was a REALTOR. He agreed real estate investing was a good idea, but gave me no formulas or other advice. He just told me of a townhome on the market that he liked, I bought it, and it worked out. I wouldn't advise that today, but real estate is a very forgiving investment vehicle that erases a lot of mistakes.
I’m glad the first investment worked out! Thank you for sharing that, and I have started reading that book, and I definitely need to finish it.
While not directly related to real estate, the My First Million podcast is definitely one with some good nuggets of business wisdom. The stories always have good takeaways.
Hi, congratulations Corey! It's great that you're interested in real estate! Although a lot of people will recommend "inspirational books" like 'Rich dad poor dad', "Think and grow rich" and these self-help/motivational books, I have a slightly different approach. These books will inspire you, but not give you practical advice, so here are the best books that I've read so far that gave me insights, practical tactics, methods, and an understanding of the real estate world.
1. 'The Book on Rental Property Investing' by Brandon Turner (This will give you the specific tactics on Rental property investing.)
2. 'How to invest in real estate' by Joshua Dorkin & Brandon Turner (This book is about different strategies, and overall understanding as well as tactics.)
3. 'Investing in Real Estate with No (and Low) Money Down' by Brandon Turner (This is about how you can get started with little low money.)
4. 'The Book on Managing Rental Properties' by Brandon Turner & Heather Turner (This is about managing your real estate. You can read this later when you purchase your house.)
5. 'How I Lost Money in Real Estate Before It Was Fashionable: A Cautionary Tale' by JL Collins (This book is on how you can lose money in real estate)
These are some books that will help you set a basic backbone for real estate investing. It's always good to listen to podcasts like the Real Estate Podcast by BiggerPockets and The Dave Ramsey Show. These are trusted and verified podcasts that you can get advice from.
Be cautious about Gurus. They promise that they have a "Step by Step" method of investing and making millions. It almost never works out. Get your hands on free content. Gurus will tell you that they will have free seminars, only to lure you into paying thousands later for their specific courses. Watch out for those.
Lastly, as you read books and listen to podcasts, as always, take action! It's very important. Good luck on your real estate journey and keep me updated! :)
I would love to connect and send over some great podcasts/readings that I have found very helpful. In the meantime check out this article https://www.biggerpockets.com/...
Hey Peter, Thanks for sharing those books with me. I agree, the practicality is worth a fortune, and I truly value people's experiences just as much as I value the common knowledge of REI. I'll give these books a look when I get the chance.
Feel free to shoot me a connect and we can chat offline.
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