What's everybody reading?

Question

I read several books on investing and real estate over the summer.  I learned a lot from Commercial Real Estate for Dummies and What Every Real Estate Investor Needs to Know About Cash Flow. I am am almost finished reading The Millionaire Real Estate Investor by Gary Keller.   What are you reading?  Any books that I should pick up?

Russell Brazil · Answer

I am with @Ned Carey. I dont really read books on real estate.  I find that most real estate books are either just not very good or not applicable to actually what I do investing. I tend to read books on business and stock market investing. Two books I think anyone who invests in any kind of asset should read is both of Peter Lynches books...One Up On Wallstreet...and Beating the Street. They are sort of the underlying core to what I do as an investor in both the stock market and in real estate. Basically it boils down to three principals.

Invest in what you know.

Buy undervalued assets

Look for growth opportunities.

Ned Carey · Answer

I don't really read books on real estate any more I focus on books about business, and bettering myself.

Best recent book

• The One ThingThe best book I have ever read on time management and productivity

Recent books

• Lifeonairevery good and highly recommended.
• Pumpkin Plan
• Fooled by Randomnessgood concept but a tough read

Currently reading

• The Joy of Living By Yongyur Mingur RinpocheAbout Buddhist Meditation

Next on my list

Virtual Freedom -Chris Duker

Optimize, Automate, and Outsource Everything in Your Life

Miricle Morning

Less doing and  more living - Ari Meisel

Essentialism the Disciplined Pursuit of less

Ned Carey · Answer

@Elford Stephens it depends on what level you are investing. If you are investing in larger commercial or appt buildings then the market makes more of a difference. However within any market there are bargains to be had. Finding a great bargain on a SFH in your own market is likely a better choice for most people than a mediocre deal in a potentially growing but distant market.

Elford Stephens · Answer

Hi Ned,

Thanks for the advice.  I can appreciate your perspective on reading books outside of real estate.  In my primary profession I have come to that point where I have enough knowledge that growth continuing faster through experience.  I look forward to reaching that point in real estate investing.  It's actually pretty exciting to have a new interest.  So, I am using all of that energy to push me to study.

Over the next few months I would like to move closer to getting into the game.  Specifically, I want to learn how to tackle principle 2 & 3.  I wish to learn how buy undervalued assets and how to find growth opportunities.  The text I have read recommend studying local markets to understand what real estate prices are and where they are going.  They also recommend obtaining city demographics data to figure out what areas have potential for growth.  I am putting together a plan on how to do this.  Do you (or anyone else) have any recommendations?

Elford Stephens · Answer

Hi Bryan,

I have not read any of the books you've mentioned.  I am pretty sure I can pick up 4 Hour Hour Work Week at my local library.  I'll add these recommendations to my list to keep me busy.

Bryan O. · Answer

Jump on 4 Hour Work Week for a cool perspective. I don't like his business ideas, but the concepts driving them are awesome.

I also love almost every book by John C. Maxwell. I just finished Failing Forward and it is outstanding.

As an entry-level book, I think Cashflow Quadrant is a good one from Rober Kiyosaki (Rich Dad guy). Don't mistake this as a recommendation for buying any of his other products  ;)

Happy reading!

Elford Stephens · Answer

Hey Ned and Shawn,

Thanks for responding to my post.  I have not read and I am not familiar with any of the books you have mentioned.  (Which is great!)  I will add a couple to my reading list for the fall.

Thanks,

Elford

Shawn Mcenteer · Answer

Millionaire Real Estate Investor is good.  A good read that is not real estate related is "The Obstacle is the Way" by Ryan Holiday.  Great read for getting the mind set to tackle REI.  The book did a lot for me, I have since transitioned away from only reading REI books to focusing on self development.

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