Hello everyone, I am 28 years old and just getting into real estate. My short terms goal for the next 1-3 years is to obtain 1-2 multi family properties to rent out. I am planning on saving 20-25K for my down payment on my first property. My market that I am interested in is Philadelphia, and Easton area. I am looking for the best books to buy to give me the proper steps, info on real estate terminology, how to analyze properties, etc. i have listened to bigger pockets podcast on the matter, am attending webinars, and also reading the bigger pockets article for newbie investors. But any book suggestions would help! I am looking to spend a few months just gaining knowledge so I can be prepared to make a move once I find the best deal and save my down payment. Thank you in advance !
Hi Ashley!! Welcome to the real estate world - you're going to absolutely LOVE it. The book that really covered all the basics for me was The Book on Rental Property Investing by Brandon Turner. Of course BiggerPockets has a ton of books, but this book was a great starting point. Highly recommend them all!
Set for Life!
@Taylor Hudgins thank you so much for your reply ! I will definitely look into the books that you have suggested. I’m excited to learn !
@Stephen Kunen thank you Stephen! Who is the author of the book ?
@Ashley Crump Scott Trench, Ceo of BiggerPockets now.
@Ashley Crump The ABCs of Real Estate Investing by Ken McElroy. Good Luck !
@Ashley Crump ‘Rich Dad, Poor Dad’ is always high on the list to create an understanding of how your assets create income for you.
@Stacy Davis thank you so much for your reply. I have definitely heard about rich dad, poor dad! I’m going to give it a read :)
@Kevin Paulk thank you Kevin for your reply ! I will look into your suggestions ! I appreciate it !
@Ashley Crump . All of the BP publications are really good. They will give you the basics of investing. You will need to attend the school of hard knocks for the rest :)
@Matthew Irish-Jones thank you Matthew ! I will continue to dig into BP! And I’m excited to hit the ground running !
Taxes taxes taxes!!
Get The Book on Tax Strategies for the Savvy Real Estate Investor: Powerful Techniques Anyone Can Use to Deduct More, Invest Smarter, and Pay Far Less to the IRS!
By Authors: Amanda Han, Matthew MacFarland
It's always surprising to me how rarely this book is ever mentioned and or tax strategy books in general!! This book has been an eye opener for me on how to save money on taxes and how not to give away your precious funds back to the government.
I would suggest ordering it from bigger pockets because you get the below bonus PDFs
Bonus #1: What Records to Keep and Why
Bonus #2: When to Call Your CPA
Bonus #3: CPA Fireround!
Bonus #4: Retirement Accounts That Can Be Self-Directed
Bonus #5: Important Updates to the 2018 Tax Code
@Mark Bills thank you so much for this valuable suggestion ! I can’t wait to explore more on taxes! I appreciate it!
I really took a lot out of this book when I first got started a couple of years ago. I have the same strategy as you to start with small multifamily properties. I bought my first quad in Mount Airy last May. Would be happy to share my experiences : )
Just keep in mind that this book was written before the 2008 recession so the focus on appreciation is a little overdone but I think the point is just to get you to think.
Investing in Duplexes, Triplexes, and Quads: The Fastest and Safest Way to Real Estate Wealth
Book by Larry B. Loftis