Yankton, SD · Member since 2020 · 21 posts · 58 votes
Are there any “need to read” books that you would suggest I read before making my first deal? I have some time before my first deal as I’m only a senior in high school but Ive always taken interest in real estate and have found myself investing a lot of time into reading about the topic. I want to focus on single family and small multi family rental homes and I’m always open to learning more about rehab and flipping. Any suggestions would help me further my education and help me become a successful real estate investor. Thank you for your time!
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
6y
Still in High School?...then master Algebra and Geometry. Those two subjects will help you become a better REI more so than any other books you can read. Geometry will train you in the ability to thin through a problem, and multi-task through that problem. Algebra will train you on how to execute the solution(s) you found using Geometry.
Its great that you're getting involved and trying to learn more so early. I'm impressed by your initiative and drive. We have 5 core books at our company, and I think one could be helpful. The One Thing by Gary Keller, who founded Keller Williams, is very helpful is prioritizing and business in general. Also, John Maxwell does a Youtube series that has a lot of great information about the property management side of things (what I do) if you're interested in learning more.
Yankton, SD · Member since 2020 · 21 posts · 58 votes
6y
@Kerry Noble Jr
I have actually already read that book and enjoyed it very much. It changed a lot of my thinking on money and just my goals in general. Thanks for the suggestion!
Yankton, SD · Member since 2020 · 21 posts · 58 votes
6y
@Grace Ann Pulliam
I am currently reading “The Book On Rental Property Investing” by Brandon Turner and just looked into the book you suggested. I will definitely be reading that next. Thanks so much for the suggestion!
Yankton, SD · Member since 2020 · 21 posts · 58 votes
6y
@Joe Villeneuve
Hey Joe,
I’m actually well trained in mathematics and actually won a state-wide math competition for high schoolers In South Dakota (not meaning to brag). It’s great to hear that one of my favorite subjects will be useful in my real estate journey, and I will make sure to continue studying! Thanks for the advice!
Investor · Tallmadge, OH · Member since 2015 · 259 posts · 275 votes
6y
Love that you're taking action so early! I'd recommend Scott Trench's Set for Life for starters. Also, Rich Dad Poor Dad is a classic and was beneficial to me in developing the right mindset to start investing. The ABC's of Real Estate Investing by Ken McElroy is another great one.
Yankton, SD · Member since 2020 · 21 posts · 58 votes
6y
@Jen R.
Thanks so much for the list of books! I have already read Rich Dad Poor Dad but I will definitely look into those books when I get the chance. Thanks again!
New to Real Estate · Blackfoot Idaho · Member since 2020 · 13 posts · 4 votes
6y
I'm currently reading How to invest in Real Estate by Brandon Turner and Josh Dorkin that's been really good at giving a 30,000 foot view of real estate and touching on all the aspects that go into it. I think it's great for helping someone prepare for taking the journey, whatever direction you decide to go in real estate. I've also had The Millionaire Real Estate Investor recommended to me as well.
Property Manager · Cincinnati, OH · Member since 2019 · 131 posts · 237 votes
6y
I always recommend reading a few of Brandon Turner's books, which you can find in the BP book store. They have a lot of value and are also very friendly for newer investors. Best of luck!
Yankton, SD · Member since 2020 · 21 posts · 58 votes
6y
@Luke Marsh
The book I’m currently reading, “The Book On Rental Property Investing” is by him and someone else also suggested a book by him. He will definitely be in my sights if I ever need a new book to read. Thanks for the suggestion!
Investor · Colombia & USA · Member since 2020 · 3 posts · 8 votes
6y
I dont know if you are as terrible reader as I used to be, so let me give you a quick tip in order to get better at it. Use your phone to read books to you!
I Downloaded the Alexa app on my phone, and the Kindle app, so every time I buy a book at amazon in kindle format, I can ask Alexa on my phone to read it to me.
By listening the book while you read it on the app, you can concentrate more, retain more, and keep a longer time focus on it. I have basically read 4 to 5 books per month doing this... So imagine yourself in a year, with 50 real estate and business book in your head!
Rental Property Investor · Souderton, PA · Member since 2020 · 124 posts · 106 votes
6y
@Kincaid Ryken
Rich Dad poor dad
Never Split the Difference
4 hour work week
How to Win Friends and Influence People
The E myth
There are many more but these are 5 that have helped me in a lot of ways. The audiobooks are all also available for free on youtube.
A side note I was 21 when I got my real estate license and 22 when I bought my first triplex. I would recommend getting your license whether you use it or not you will learn a lot about the process. (Then potentially save on your own commissions!)
I’m actually well trained in mathematics and actually won a state-wide math competition for high schoolers In South Dakota (not meaning to brag). It’s great to hear that one of my favorite subjects will be useful in my real estate journey, and I will make sure to continue studying! Thanks for the advice!
I'm specifically talking about Geometry and Algebra. You need to understand the math...not just pass tests. There are a number of people that can pass math tests on paper, but they have no clue what the math means...or how to apply it.
My first two questions to you are this:
1 - How are you at doing complex proofs in Geometry?
2 - How are you at doing complex story problems in Algebra?
Financial Advisor · Niagara Falls, ON · Member since 2019 · 6 posts · 1 vote
6y
@Kincaid Ryken
You're going to go far in life, Kincaid! Keep it up and you'll reach your goals in no time. I'd definitely recommend you read "The House Hacking Strategy by Craig Curelop".... it discusses why House Hacking is a great initial strategy to get into REI. Take care and keep working hard, feel free to reach out for any questions that you have. Great job on starting so early!
After you finish your current book read “Set for Life” my Scott. Then read Investing in Real Estate with No and Low Money Down! Also CashFlow Quadrant is a must!!