Neophyte looking for books to educate me on real estate

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Neophyte looking for books to educate me on real estate

Akash Sky
Burbank, CA · Member since 2016 · 39 posts · 3 votes

Hi biggerpockets!

This is my first post, so I'd like to introduce myself a little.  

My name is Akash and I graduated college 4 months ago as a chemical engineer from UCSD.  I've been employed for about 3 months and recently started listening to the BP podcast while driving to work  (The podcast got me to come here!).  I want to start real estate quickly, however, after listening to the BP podcast I've decided that educating myself first is the better decision.  

Also considering that I've got no money saved up for a down payment (its all going to student loans...) , now is the perfect time to educate myself as I save up.

After reading through the ultimate guide, and looking around, I've decided that I want to purchase a duplex, or some form of "plex".  

Have any of you read some really good books to help you get started on real estate investing, particularity on "plexes"?

I'd also love to hear any stories about real estate you have to share!

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Tamara Taylor
Ayer, MA · Member since 2015 · 57 posts · 22 votes
9y

Here are 20 books to check out and there's one in particular that covers multifamily properties.

https://www.biggerpockets.com/renewsblog/wp-conten...

And I highly recommend listening to every BP podcast, even the ones you think aren't going to be relevant. There's always a good tid bit about strategies that relate to all types of investing.

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  • Tamara Taylor
    Ayer, MA · Member since 2015 · 57 posts · 22 votes
    9y

    Here are 20 books to check out and there's one in particular that covers multifamily properties.

    https://www.biggerpockets.com/renewsblog/wp-conten...

    And I highly recommend listening to every BP podcast, even the ones you think aren't going to be relevant. There's always a good tid bit about strategies that relate to all types of investing.

    1Reply
  • Abdul Azeez
    Real Estate Investor · Monroe Township, NJ · Member since 2016 · 468 posts · 85 votes
    9y

    My favorite was the one by Frank Gallinelli - What Every Real Estate Investor Needs To Know About Cash Flow. Use this to construct your own APODs for deal analysis.

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  • Akash Sky
    OP
    Burbank, CA · Member since 2016 · 39 posts · 3 votes
    9y
    Originally posted by @Tamara Taylor:

    Here are 20 books to check out and there's one in particular that covers multifamily properties.

    https://www.biggerpockets.com/renewsblog/wp-conten...

    And I highly recommend listening to every BP podcast, even the ones you think aren't going to be relevant. There's always a good tid bit about strategies that relate to all types of investing.

     Sure thing.  I started on episode 1 and I'm currently on 10.  There's definitely hidden gems in every episode.  After looking through that PDF, I'm going to look into Larry Lotis's book on triplexes, Thanks!

    Originally posted by @Abdul Azeez:

    My favorite was the one by Frank Gallinelli - What Every Real Estate Investor Needs To Know About Cash Flow. Use this to construct your own APODs for deal analysis.

    Why was that book your favorite?  What value did you get out of it?

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  • Tamara Taylor
    Ayer, MA · Member since 2015 · 57 posts · 22 votes
    9y

    @Akash Sky Brandon's book on No and Low Money Down really helped me figure out how to finance my first deal. And books like Rich Dad Poor Dad and You Are A Badass are keeping me motivated to move forward with my plans every day. You have to be tenacious in this business. Set a real solid goal for yourself. 

    Also, complete your profile or people won't take you seriously. 

    Good luck!

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  • Akash Sky
    OP
    Burbank, CA · Member since 2016 · 39 posts · 3 votes
    9y
    Originally posted by @Tamara Taylor:

    @Akash Sky Brandon's book on No and Low Money Down really helped me figure out how to finance my first deal. And books like Rich Dad Poor Dad and You Are A Badass are keeping me motivated to move forward with my plans every day. You have to be tenacious in this business. Set a real solid goal for yourself. 

    Also, complete your profile or people won't take you seriously. 

    Good luck!

     Profile completed to the best of my knowledge!  Do you have any advice on what things to include in profiles when starting out?  

    I've read rich dad poor dad recently, but I wasn't really able to understand the details behind his concepts.  I'll probably have to give that a closer read sometime soon.  

    Does no and low money down only deal with purchases when you are unable to procure a 20% down payment?  I've heard that there's considerable risk involved in doing so and that having a 20% down payment is a safe practice.

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  • Charlie Gruber
    Rental Property Investor · Golden, CO · Member since 2015 · 65 posts · 11 votes
    9y
    https://www.amazon.com/Building-Wealth-One-House-Time/dp/0071448357
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  • Tamara Taylor
    Ayer, MA · Member since 2015 · 57 posts · 22 votes
    9y

    Just be honest in your profile and as thorough as possible. Change it as your goals and experiences change.

    Nothing in real estate is black and white. A 20% down payment is not always feasible. Everyone's situation is different. The point is to do what ever it takes to get in the game without losing money. Putting down less than 20% works for many people, including me. After this first deal, I will likely be able to put down 20% on the next. 

    Keep doing what you're doing. Ask questions, read, network, and listen to podcasts.

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