New to REI: what 5 books would you read?

Question

Hey everyone,

I'm looking to get into real estate investing in the next year or two, but I want a full education (or as much of an education I can get from books) before I even think about making my first deal. I have a high-paying, full-time job that I'm not looking to replace, but rather supplement with passive income and tax breaks in the future (ie buy & hold with a management company).

What books would you recommend for a newbie like me? Here's my tentative list:

1) The Book on Rental Property Investing by Brandon Turner

2) The Book on Managing Rental Properties by Brandon & Heather Turner

3) What Every Real Estate Investor Needs to Know About Cash Flow... And 36 Other Key Financial Measures, Updated Edition by Frank Gallinelli

4) Hold: how to find, buy, and rent houses for wealth by Gary Keller

5) The happy couple's guide to investing in real estate : a comprehensive manual for working together as a couple to build a brighter future by Chakib Jaber
- Admittedly, this last one is help quell my wife's anxiety about REI

What are you thoughts on my book list? Any suggestions of your own?

David Goossens · Answer

I liked Millionaire Real Estate Investor by Gary Keller, The Book on Estimating Rehab Costs by J Scott, The One Thing by Gary Keller, The Book on Investing in Real Estate with No an Low Money Down by Brandon Turner, and Rich Dad Poor Dad. Those books should get you started!

Tom Hertel · Answer

Thanks for the response Seth, I'll take a look at those. Would you suggest Kiyosaki's "Rich Dad, Poor Dad" or his "Cashflow Quadrant"?

Seth Nadreau · Answer

Looks like you've got a buy and hold strategy in mind. Honestly, I love both Keller and Turner's books and find them to be pretty solid. I'm also a fan of Robert Kiyosaki (although, NEVER pay to attend any workshop branded with his name... you could save time tossing $20s in to a fire).

Another book I like to recommend to buy and hold investors is "What Every Landlord Needs to Know" by Richard Jorgensen. It's an easy read, but it prepares people for handling their investing like a business rather than a hobby which I find is MUCH more common of a problem than one may think.

New to REI: what 5 books would you read?

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