Best multi family books to read

38 Replies

Ive recently been reading up in multi family and larger apartment real estate spaces to invest in but I’m very perplexed at how to get into this space. I feel as if it’s the direction I’d like to go in the future. Anybody with loads of knowledge have any wisdom for me? What books are considered the best for reading to get me on the right track so that I become successful in this new venture? Any help is greatly appreciated!

- Rich Dad Poor Dad (not exactly commercial real estate but basically "the bible" in terms of mindset shifting for everyone starting in real estate investing, specially in multifamily real estate)

- The ABCs of Real Estate Investing. Ken McElroy

- The Perfect Investment. Paul Moore

- Crushing It. Brian Murray

- Best Ever Apartment Syndication Book. Joe Fairless

Hello @Erik Schneider

The Best Ever Apartment Syndication book is by far the best resource I have ever read on how-to do get into and execute in the multifamily space.

If you have any questions or concerns about the book feel free to reach out.

@Lennon Lee read rich dad poor dad a few years ago and you’re right. Totally changed my mindset on debt and the rat race for sure. I’ve almost finished crushing it... so far so good thanks for the suggestions!
@Mike Taravella I’m really going to have to read the best ever apartment syndication book. So far that’s three recommendations for the same book! Have you done any of your own self managed syndications? The idea is very interesting to me.

@Erik Schneider

I'd start with both of Lindahl's books. You'll get a pretty good foundation on MFH investing. You'd want to learn that prior to learning the syndications business, right?!

If you need more books recommendations, feel free to PM as I have the whole library with links.

Find a mentor.

Consider another asset class like mobile home parks, self storage or emerging asset class like assisted living.

@Erik Schneider  Not a real estate book, but you should read The Big Leap by Gay Hendricks. The book talks about overcoming your fears which are limiting from reaching your zone of genius. 

It's here in the 'zone of genius' where you will feel most creative, alive, and free. 

I recommend you check it out. It will help you have a shift in mindset, which most investors need when thinking about doing BIG THINGS in real estate. 

Best of luck to you mate. 

Erik, books are important and help get you very basic fundamentals. You'll never make it unless you find a mentor or someone already doing what you want to do. You will (probably) have to pay a significant amount of money for their time, but it is worth it if this is something you want to do long-term. Just my $.02

@Erik Schneider , I second what @Lane Kawaoka said about another asset class like mobile home parks, self-storage or boat & rv storage. Self-Storage & boat & rv storage specifically are much easier to manage as there are no people living on the property.... it's essentially multi-family without the family! 

I think what you're really looking for is multi-unit investing so that you have many tenants diversifying away your risk vs 1 or 2 large tenants. Multi-family is not the only multi-unit investing strategy out there. 

@Erik Schneider started my journey house hacking a duplex and built the company from there. Today we own 210 million in apartments and manage another ~100 million as a fee manager. 

Real estate finance, syndication are top lists but also personal development and sales training lists too. Number one skill of an entrepreneur (real estate or otherwise) is the ability to persuade others. #salestraining

All the best man!!

Thank you to everyone who recommended Best Ever Apartment Syndication Book! Means a lot to hear how much value it has and is adding to your multifamily investing businesses.

Read this thread and went to buy Best Ever Apartment Syndication Book. Saw that it's like $50 for even the kindle version. Is that the price everyone here paid. I don't dispute that $50 could be worth it, but it's quite a high price for a kindle book.

Thanks

@Erik Schneider

A couple books I liked were:

The seven habits of highly effective people. (I put this one up there with rich dad)

Rich dad

And Set for Life by Scott Trench.

I have a bunch of REI books on Audible for my commute and have listened to these three books time and time again.

@Erik Schneider

You can check out some apartment or syndication conferences/seminars to see if its a direction you would like to pursue.  If it is then there are a good amount of online courses and mentor ships out there with reputable sponsors and that could be your next step.

Books:

David Lindahl's books Emerging Real Estate Markets and Multi-Family Millions.

Crushing it in Apartments and Commercial Real Estate by Brian Murray

I have heard good things about Best Ever Apartment Syndication Book by Joe Fairless but haven't had the chance to read that one yet.