I just got into bigger pockets recently and love it. I listen to the podcasts when I run and have knocked out about 30 of them. Such great info.
I have two questions. I need two book recommendations.
1st, I agree that it is super important to understand how real estate finance works. And on a recent podcast, that point was made. However, when I went to look for a good book on understanding it..... I couldn't find one. It was mostly college books costing upwards of $100. So, a good real estate finance book is ______________.
2nd, I am looking at starting my own property management company and would like some recommendations on good books related to understanding how to be the best at it.
My favorite non-text book about real estate finance is: What Every Real Estate Investor Needs to Know About Cash Flow by Frank Gallinelli
I does an excellent job of breaking down different financial metrics and giving good examples. That will give you a good base understanding of most finance you need to know.
For a deeper understanding, the textbook: Real Estate Principles, a value approach by David Ling. This textbook is my favorite and I reference it often. I used it during my undergrad. On amazon you can buy it used for $34, so not too bad.
I'm a complete and total newbie, but a book that has helped take steps towards my own financial freedom and helped me decide to commit to it is Grant Cardone's 10X Rule. GC was on the BP podcast and owns hundreds of millions of dollars worth of real estate.
In and of itself, the book's not about real estate, it's more so about mindset and motivation, but it changed my life and it might change yours.
There are a good of good books, but I like Crushing It in Apartments and Commercial Real Estate by Brian Murray. While it is, obviously, written for apartments and commercial real estate, I think a lot of the information is still applicable to real estate in general. I think it is also helpful since a lot of people start in SFRs but move to MFRs and apartments.
@Blake Gansborg I have a lot of good books recommendations. I list them on my website as recommendations. So to name a few, I'd start with both of David Lindahl's books and Steve Berges"The Complete Guide to Buying and Selling Apartment Buildings"
@Blake Gansborg I believe you want to learn about how to finance real estate deals, correct? I wouldn't recommend a particular book because the world of finance is constantly changing. Your best bet is to make a couple friends in the lending world. Invite them to lunch and pick their brains every 3-4 months. They can also set you up for their blog or email you informative articles. Don't just talk to any lender; try to find one that works with a lot of investors. If you have an investor group in your area, talk to the big guys about recommendations.
I also don't have a book for starting a Property Management company. I would recommend you become a member of the National Association of Residential Property Managers (NARPM) and start taking classes to get an education. They have a Google Group that is VERY active and you will learn a ton just by talking to the other NARPM members. I've been a member for four years and it's probably the best resource I've ever found.
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