Which real estate related books have contributed to your success?

Multi-Family and Apartment Investing
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Which real estate related books have contributed to your success?

Justin Goodin
Investor · Indianapolis, IN · Member since 2018 · 1k+ posts · 756 votes

What are some of your favorite real estate related books?

For me it’s the Best Ever Apartment Syndication Book by Joe Fairless. This book is worth reading multiple times and tells you step by step how to complete a multifamily syndication.

I also enjoy Financial Freedom with Real Estate Investing by Michael Blank. Michael’s book changed my whole perspective on real estate investing and what is possible using OPM to scale.

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Erik W.
Real Estate Investor · Springfield, MO · Member since 2017 · 1k+ posts · 2k+ votes
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I like John Schaub's Building Wealth One House at a Time.  I met Mr. Schaub in 2018 at a convention and was impressed by his "less is more" talk.  He owns 30 nice houses, which are paid off and provide him a comfortable income and wealth without a lot of hassle.  I see some LLs who go for a high number of door which is fine for some, but I'm not into having to remember 100s of tenant names and constantly be doing turn overs.  Even if you hire all that done, you end up having to "manage your manager" and manage your crews.  30 homes in well-chosen locations, paid off, will yield a comfy income and put a person in the top 1% of wealth in the nation.

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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    5y

    There are a lot of them but my #1 favorite is "Every Landlord's Legal Guide" by NOLO. Great resource for Landlords that includes a metric ton of practical advice from marketing to dealing with the deposit and everything between. Includes your state-specific laws (very important) and some editable forms to help you get started.

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  • Erik W.
    Real Estate Investor · Springfield, MO · Member since 2017 · 1k+ posts · 2k+ votes
    5y

    I like John Schaub's Building Wealth One House at a Time.  I met Mr. Schaub in 2018 at a convention and was impressed by his "less is more" talk.  He owns 30 nice houses, which are paid off and provide him a comfortable income and wealth without a lot of hassle.  I see some LLs who go for a high number of door which is fine for some, but I'm not into having to remember 100s of tenant names and constantly be doing turn overs.  Even if you hire all that done, you end up having to "manage your manager" and manage your crews.  30 homes in well-chosen locations, paid off, will yield a comfy income and put a person in the top 1% of wealth in the nation.

    13Reply
  • Steven Foster Wilson
    Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes
    5y
    Originally posted by @Justin Goodin:

    What are some of your favorite real estate related books?

    For me it’s the Best Ever Apartment Syndication Book by Joe Fairless. This book is worth reading multiple times and tells you step by step how to complete a multifamily syndication.

    I also enjoy Financial Freedom with Real Estate Investing by Michael Blank. Michael’s book changed my whole perspective on real estate investing and what is possible using OPM to scale.

    My favorite is "Crushing it in apartments and commercial real estate" its a very easy read and explains complex ideas and equations like NOI, CAP Rate, and how to get into the game as a beginner.

    7Reply
  • Todd Dexheimer
    Rental Property Investor · St. Paul, MN · Member since 2016 · 3k+ posts · 3k+ votes
    5y

    David Lindahl's books: "Multifamily Millions" and "Emerging Markets"

    Ken McElroy's books: "ABC's of Real Estate Investing" and "Advanced ABC's of Real Estate Investing"

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  • David Richter
    Real Estate Consultant · Member since 2018 · 99 posts · 50 votes
    5y

    @Justin Goodin

    My favorite 2 books of all time would be Profit First by Mike Micalowicz and The Extreme Ownership by Jocko Willink. 

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  • Justin Goodin
    OP
    Investor · Indianapolis, IN · Member since 2018 · 1k+ posts · 756 votes
    5y

    @David Richter I have read Extreme Ownership but not Profit First. Thanks for the recommendation!

    @Todd Dexheimer Thanks! Multifamily Millions is on my list. I see it has great reviews on Amazon. 

    @Steven Foster Wilson I have also seen this on Amazon. Looks like a powerful book. 

    @Erik W. Wow very interesting. Thanks for sharing this. 

    @Nathan Gesner Sounds great! Although, I am not trying to be a landlord! Too much headache for me. 

    0Reply
  • Erik W.
    Real Estate Investor · Springfield, MO · Member since 2017 · 1k+ posts · 2k+ votes
    5y

    @Justin Goodin, I think you'd like Schaub, but I am curious what your goals are.  You said "not wanting to be a LL."  Understood: not everyone is cut from that bolt of cloth.  So what do you want to do: syndicate or be a deal finder?

    1Reply
  • Chris BlackburnPro Member
    Developer · Salem, OR · Member since 2014 · 193 posts · 110 votes
    5y

    Took me 1.5 months to read- BUT this was GREAT considering what I was doing-

    https://www.amazon.com/gp/prod...

    The Encyclopedia of Commercial Real Estate Advice: How to Add Value When Buying, Selling, Repositioning, Developing, Financing, and Managin
    1Reply
  • Victor SteffenBusiness Member
    Investor · Austin, TX · Member since 2017 · 352 posts · 374 votes
    5y

    The Compound Effect by Darren Hardy and The 12 week year. neither of which talk about real estate funny enough hah

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  • Petro B.
    Investor · Philadelphia Area · Member since 2020 · 11 posts · 8 votes
    5y

    Definitely "What Every Real Estate Investor Needs to Know About Cash Flow... And 36 Other Key Financial Measures" by Frank Gallinelli. Being able to evaluate a deal and objectively track performance is the key.

    1Reply
  • Justin Goodin
    OP
    Investor · Indianapolis, IN · Member since 2018 · 1k+ posts · 756 votes
    5y

    @Erik W. Yes, my team and I are focused on syndications with large multifamily assets in Indiana, Kentucky, Tennessee, and Alabama. These are all great, affordable areas to live so we see a lot of value in these areas. 

    @Chris Blackburn Thank you for the recommendation. 

    @Victor Steffen Thanks for sharing these. I am always open to reading non real estate related books also. I have heard good things about the Compound Effect. 

    @Petro B. I have not heard of these. Thanks for recommending them!

    0Reply
  • John Teachout
    Rental Property Investor · Concord, GA · Member since 2015 · 3k+ posts · 3k+ votes
    5y

    I have read quite a few books on various aspects of real estate and learned something from all of them. Reading about different models of investing can either help someone expand into a different model or confirm their choice. We do SFR and that niche is where we intend to stay. I have no aspiration to own an apartment complex. For others they want to do something else. There's so many books out there and I'd say to read whatever ones come across your desk and you'll get something out of it.

    2Reply
  • Greg Moore
    Rental Property Investor · Tampa, FL · Member since 2019 · 128 posts · 166 votes
    5y

    @Justin G. This is a GREAT thread! Thank you for posting. I love Kiyosaki’s The Real Book of Real Estate. I use it as a reference book and go back to it often. Following this thread for future reads!

    1Reply
  • Justin Goodin
    OP
    Investor · Indianapolis, IN · Member since 2018 · 1k+ posts · 756 votes
    5y

    @Greg Moore I completely forgot about Robert Kiyosaki’s books. Will put these on my list. Thanks for mentioning!

    @John Teachout thanks 👍

    0Reply
  • Danny RandazzoPro Member
    Apartment Syndicator · Charleston, SC · Member since 2016 · 973 posts · 728 votes
    5y

    @Justin G. A less well known and somewhat real estate/business book is Mistakes Millionaires Make. It’s a good read too

    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    5y
    Originally posted by @Danny Randazzo:

    @Justin G. A less well known and somewhat real estate/business book is Mistakes Millionaires Make. It’s a good read too

    I could write a book on all of my mistakes :)

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  • Stan Holmes
    Rental Property Investor · Elizabethtown, KY · Member since 2017 · 45 posts · 16 votes
    5y

    The Compound Effect by Darrin

    2Reply
  • Mike Dymski
    Investor · Greenville, SC · Member since 2016 · 5k+ posts · 13k+ votes
    5y

    Carleton Sheets and late night infomercials is what we had back in the day (showing my age...).

    3Reply
  • Sean Watson
    Homeowner · Member since 2020 · 7 posts · 6 votes
    5y

    @Justin G. I don’t want to sound like a broken record and I’m not going to consider myself successful as I am a brand new investor. The book, at this point in my life, that has had the most impact on my motivation and focus has been rich dad poor dad. I’m sure many have read it and would agree that in the beginning of your investment adventure this book has the potential to drive you towards higher goals.

    2Reply
  • Quincy Lockett
    South Holland, IL · Member since 2017 · 376 posts · 432 votes
    5y

    @Justin G.

    Rich Dad Poor Dad

    2Reply
  • Quincy Lockett
    South Holland, IL · Member since 2017 · 376 posts · 432 votes
    5y

    @Erik W.

    YES! You also typically get a better quality tenant with houses. Particularly in decent locations.

    1Reply
  • Justin Goodin
    OP
    Investor · Indianapolis, IN · Member since 2018 · 1k+ posts · 756 votes
    5y

    @Quincy Lockett Definitely a great read! 👍

    @Sean Watson Everyone has to start somewhere! At least you are taking action. Rich dad poor dad is a classic. 

    @Stan Holmes Thank you 🙏🏻 

    @Jay Hinrichs Would love to hear more about the mistakes you made sometime. 

    @Danny Randazzo Thanks for the recommendation. I have not heard of this title either but will be sure to check it out 👍

    0Reply
  • Bonnie LowPro Member
    Lender · Asheville, NC · Member since 2016 · 1k+ posts · 1k+ votes
    5y

    The Book on Estimating Rehab Costs by J Scott was pivotal when we were starting out. Before we got our first flip under our belt, we had looked at probably 50 houses and made offers on about 30. We have a great Realtor so we were really confident in the ARV she would give us, but calculating our repair costs was a total guessing game until we read that book. It allowed us to create a template for doing our walk throughs to make sure we don't miss anything important and really served as a guide to what metrics to use (like calculating square footage for flooring and linear footage for counter tops, for example). It pointed out things we might not have considered, like making sure we're adding in the cost of disposal of old roofing materials as well as the cost of installing the new one and that a double layer tear off is going to cost more than a single layer and comp shingles are more costly to dispose of than shake. It also gave us some idea of where to look to find reliable pricing in our market. We can now do this all fairly easily, but our methods are based on the lessons we learned in this book. I can't recommend it enough for anyone doing flips or rehabs, particularly if you don't have the background of having worked in construction.

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  • Stan Holmes
    Rental Property Investor · Elizabethtown, KY · Member since 2017 · 45 posts · 16 votes
    5y

    Me too always looking for a good book to add to my library 

    1Reply
  • Petro B.
    Investor · Philadelphia Area · Member since 2020 · 11 posts · 8 votes
    5y

    Not exactly a real estate book, but "7 habits of highly effective people" by Stephen Covey had a huge impact on all aspects of my professional life.  

    2Reply
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