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Matthew Shanks
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Book or learning resources

Matthew Shanks
Posted Apr 15 2024, 16:27

Does anyone have any good starting points to start learning real-estate investing? Any good starting points here or any books I should start reading? 

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Jacopo Iasiello#2 Market Trends & Data Contributor
  • Investor
  • Miami Beach, FL
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Jacopo Iasiello#2 Market Trends & Data Contributor
  • Investor
  • Miami Beach, FL
Replied Apr 18 2024, 09:18

Hi Matthew, start with any free resources we have like social media etc. follow industry leaders and maybe you might interested in my book happy rich and healthy book not just for real estate but also start building wealth without sacrificing your health. I'm happy to share. :)

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Replied Apr 27 2024, 04:57
SECRETS OF THE MILLIONAIRE MIND (BY T HARV EKER)

https://www.amazon.com/Building-Wealth-One-House-Time/dp/007...

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Replied Apr 27 2024, 04:58

https://www.youtube.com/channel/UCMB4AigBkfj-TFKLDsXcOTg

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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied Apr 27 2024, 05:41

1. Start with BiggerPockets Ultimate Beginners Guide (free). It will familiarize you with the basic terminology and benefits. Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.

2. Get your finances in order. Get rid of debt, build a budget, and save. The idea that you can build wealth without putting any money into it is a recipe for disaster and the sales pitch of gurus trying to steal your money. A wise investor will not try to get rich quick with shortcuts. If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing. Check out my personal favorite, Set For Life by Scott Trench , or The Total Money Makeover by Dave Ramsey.

3. As you read these books, watch the BiggerPockets podcasts. This will clarify and reinforce what you are reading. You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.

4. NETWORK!!! Get out of your comfort zone. Stop hanging out with your deadbeat buddies that spend all day drinking, talking sports, and otherwise wasting away. Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area. You can also find real estate investing groups through meetup.com, facebook, or a Google search. Birds of a feather flock together!

5. Now you need to figure out how to find deals and pay for them. Again, the BiggerPockets store has some books for this or you can learn by watching podcasts, reading blogs, and interacting on the forum. A handy search bar in the upper right makes it easy to find previous discussions, blogs, podcasts, and other resources. BiggerPockets also has a calculator you can use to analyze deals and I highly recommend you start this as soon as possible, even if you are not ready to buy. If you consistently analyze properties, recognizing a good deal will be much easier when it shows up. Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice. It doesn't take long to learn how to spot a good deal.

6. Study the market. You can learn to do this independently or get a rockstar REALTOR to lead the way. I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.

7. Jump in! Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started. You could read 100 books and still not know enough because certain things must be learned through trial and error. You don't need to know everything to get started; you need a foundation to build on and the rest will come through experience and then refining your education.

You can build a basic understanding of investing in 3-6 months. How long it takes to be financially ready is different for everyone. Once you're ready, create a goal (e.g. "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it. Real estate investing is a forgiving world; the average person can still make money even with some big mistakes. 

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Replied Apr 27 2024, 06:46

https://kellerink.com/products/the-millionaire-real-estate-i...

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Replied May 5 2024, 15:28

https://www.biggerpockets.com/forums/55/topics/1177734-inter...

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Logan Moir
  • Investor
  • Bremerton, WA
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Logan Moir
  • Investor
  • Bremerton, WA
Replied May 9 2024, 14:53

Hey Matthew, if you're analytical and want to learn the grammar of real estate investing, this book did the trick for me (ISBN-101259586189). I come from a structural engineering background, and I find comfort in calculations--the numbers don't lie.

I confidently bought my first BRRRR (small multifamily) within 6 months of finishing the book. The numbers don't lie when you make conservative guesses.

I have a couple spreadsheets I use to do quick evaluations of BRRRRs, STRs, and DADU/AADU development. If you want to hop on a Google Meet call, PM me. I'm happy to walk through one with you.

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Wale Lawal
  • Real Estate Broker
  • Houston | Dallas | Austin, TX
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Wale Lawal
  • Real Estate Broker
  • Houston | Dallas | Austin, TX
Replied May 10 2024, 11:55

@Matthew Shanks

Investing in real-estate can be tricky, but there's help for starters. BiggerPockets is a good place to learn with chats, shows, and reads. Books like "Rich Dad Poor Dad" and "The Millionaire Real Estate Investor" teach key money smarts and how to think big. "The Book on Rental Property Investing" digs into renting houses out. "Real Estate Investing for Dummies" is an all-around easy guide to start with. You can also find short online classes and webinars. Joining groups in your area helps meet people who know a lot and can share tips.

Good luck!