What should I study next?

Question

Hi everyone. I've finished reading the "Ultimate Beginner's Guide to Real Estate Investing". What should be my next reading, book or guide? I want to get into buy and hold investing.  I've looked at the twenty one books recommended from Bigger Pockets. But I'm not sure which I should read next. Any advice?

Chris Adams · Answer

I don't have any books to recommend, but I will tell you that you should start learning the math, and how to analyze properties by the numbers.

Start looking at random properties for sale via the MLS, and try to find what you think would be a good rental in your area. Then do your research on the property. set up or DL a spread sheet to analyze the property, then research how to get the information you need to accurately analyze the property.

Doing this now will help you understand a lot. You will also start being able to understand what good deals are vs bad deals. And when your ready to start buying you will be ahead of the game.

Andrew Syrios · Answer

I wrote a blog post about the books I most recommend: http://www.biggerpockets.com/blogs/4837/blog_posts/35034-10-real-estate-books-you-should-read. It really depends on whether you want to flip or hold, but either way, I would start with The Millionaire Real Estate Investor by Gary Keller.

Paul Timmins · Answer

@Tyrone Lewis

Welcome. Time to build the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having 60 past ones to catch up on.

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

Consider checking out HUD homes for small multi's owner occupied gets first crack.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Good luck

Paul

Tyrone Lewis · Answer

@Bryan L.

Thanks Bryan. I will check him out.

Bryan L. · Answer

@Tyrone Lewis  - Lots of good advice above.  There are lots of good writers about real estate.  I enjoy reading stuff by John T. Reed.  You have to buy his books directly from his website though.  You can google him.  I am not affiliated with him in any way.

Tyrone Lewis · Answer

@Brian Gibbons

Thanks so much for the link. Perfect!

Brian Gibbons · Answer

This link will give you many tools and guides.

http://www.biggerpockets.com/rei/

Best of luck,

Brian

Tyrone Lewis · Answer

@Chris Adams

I've been doing exactly what you've suggested. I enjoy playing with numbers and excel spreadsheets as well. I'm learning a lot. Thank you for the input.

Tyrone Lewis · Answer

@Leo Lupoli:

Thanks for the reply. I have and continue to listen to the podcasts. I've also played with numbers to see if certain properties were good investments. I've joined redfin, themls.com, Trulia, and Zillow. The knowledge that I've gained in such a short time is monumental. NOW I wanna go deeper. In a few months I hope to be fully prepared to make my first buy.

Account Closed · Answer

@Tyrone Lewis

Hey I am new too! I am going to check out some of the books that our BP peers recommended. I was actually in the same boat as you were (not to say I am completely out of the boat, as I still consider myself learning). I started with the beginners guide just like you. It was a great over view. Now I am watching podcast. While watching the podcast, I constantly stop google, BP, research, any terms of ideas I don't understand. I think this has been one of the best ways to learn for myself.

What should I study next?

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