Good reading suggestions for beginners?

8 Replies

Hello!

I am new to the topic of real estate and I was introduced to it by a Canadian investor. He suggested I get started by reading some books by Don R. Campbell such as "Real Estate Investing in Canada" and "Real Estate Joint Ventures" and then attempting to translate their theories and methods into U.S law. Which so far has been a good start but I was wondering if anyone had some good book suggestions by U.S based authors? I have begun reading some of the articles in the education section of this website but I was hoping people had more in depth suggestions.

Also as it may influence the suggestions I get, I am looking to get into buy and hold rental properties.

If you haven't read this already, I strongly recommend Rich Dad, Poor Dad by Robert Kiyosaki.

I can almost garuntee every successful real estate investor has read this book.

It will change your life and the way you view money.

Originally posted by @Caleb Stevens :

If you haven't read this already, I strongly recommend Rich Dad, Poor Dad by Robert Kiyosaki.

I can almost garuntee every successful real estate investor has read this book.

It will change your life and the way you view money.

I have indeed read Rich Dad, Poor Dad. It was a very good read, good suggestion thank you!

Books – In this order
1) Rich Dad Poor Dad
2) Millionaire Real Estate Investor
3) Cashflow Quadrant
4) Equity Happens

It’s important to note that reading anymore is just overkill. Don’t be that ‘Shelf’-help guy or use the crux “oh I need to read and get more educated”. You need to step up and take action how many freaking books are you going to read? Many Fortune-500 Human Resources departments use the theory of 70-20-10 in developing employees which apply here. 70% is learned by doing, 20% learned from peers, and 10% is academic/book/classroom training.

Below is another rendition of the same theory. This also explains why after a few years of doing this podcast and helping others get started by modeling the way has accelerated my own growth.

Tim Ferris talks about the $100,000 MBA, where you don’t really go to school but you jump right in with your business/investment. This method may lead you to operate at a loss but you will have far more experience than getting that silly $100,000+ MBA degree from some brick and mortar school.

And a word on real estate training: Why would someone want to spend $20-30K on training when that alone is a down payment on a cashflowing property that you can learn through doing and make 300-400 a month cashflow. Heck, you could even buy an overpriced 2nd tier turnkey property and get your education that way too.

Rich Dad Poor Dad and Cashflow Quadrant started it all for me.
There are lots of suggestions from the BP Podcast guests as well.
Oh, E-Myth is good too!
Remember to read and apply! Don't be caught up to too much reading and have "analysis paralysis"