Book Recommendations While I Hunt for the Next Deal?

Question

Hi everyone,

I am about to close on my second rental property here in Phoenix! I’m super excited, but now that I’m back in the hunt, I’m finding it really tough to land a third deal. I spend several hours a day analyzing properties, but honestly, I haven’t found anything that makes sense to buy right now.

Since it might be a little while before the right deal comes along, I’m thinking it would be a great time to catch up on some good real estate or investing books.

Does anyone have recommendations for books that made a big impact on their investing journey — whether it’s real estate specific, mindset, or general wealth-building?

Thanks in advance — looking forward to learning while I stay patient!

Jason Wray · Answer

Ying,

First before you give up your hunt and settle into a good book, I would encourage you to look at other states. You mention Phoenix and I do a lot of business there but I have noticed two things over priced homes and a shortage of inventory. The shortage of inventory is mostly good deals on 2-4 unit multifamily rentals.

My other states I focus on that perfrom well are Indiana, Ohio, and Tennessee for the best bank for your buck. Indiana for example has exploded over the last 12 -24 months and its becoming a favorite state for most of my California and New York investors. Main reason is you can still find a Duplex (2 unit) for under $200K.

Most of these homes can pass an appraisal and offer an immediate cash flow but most of all huge ARV potential. There are far to many neighborhoods to list but Indianpolis and Dayton have been on top for IN & OH. Have you looked into these states if not I would suggest pulling up IN or OH for example and checking out either ZIL or Truli.

Use your filters to narrrow down the price ranges, home types and listed for sale exclude manufactured, Condos, townhomes and Land. Use a range from $100K to $250K and select single family and Multifamily. If yu ever have any question on other states or just want to connect feel free to send me an email or check out my profile!

Andre Brock · Answer

I would recommend “The power of the subconscious mind” by Joesph Murphy.

Sam McCormack · Answer

I would think you would have read Rich Dad, Poor Dad already. There is another one from BP called Multifamily Millionaire. You may have already read that one as well. One that is kinda nothing to do with Real Estate Investing (depending on what your career is), and has to do with your career/skillset and getting what you want, called "So Good They Can't Ignore You".

I read it a 4-5 years ago and I never thought it would become as useful as I thought it would, especially before I became a realtor. Realtor was never the "dream job" for me, but once I started getting better and doing it more and more, the passion followed. I chased a skillset, not my dreams. And now I couldn't imagine or wish my life to be any different

JooYung Choi · Answer

Hi Ying!

My personal favorite for mindset is Atomic Habits by James Clear.

Another one you probably have read already is How to Win Friends and Influence People by Dale Carnegie. Old one but a true gem.

Josh Young · Answer

@Ying Tang

There are lots of good deals here in Arizona, it’s just not as easy as it used to be so you need to have a little more capital since interest rates are higher than they were. Our fundamentals are very good though, population growth, job growth, lots of development, and very low property taxes. My top books are:

Rich Dad Poor Dad

The Millionaire Real Estate Investor

The Richest Man in Babylon

Ying Tang · Answer

@Jason Wray

Thanks so much for the detailed guide! I’ve been exploring out-of-state properties, but I’m realizing I’m not quite experienced enough yet to confidently make a purchase without visiting the property in person multiple times. My current plan is to acquire at least 5–6 properties in the Phoenix area before expanding into other markets—does that approach make sense to you?

Meanwhile, I’m eager to start building a reliable team out of state to help facilitate that transition. In my experience, the hardest part is finding a good GC who can work consistently and do quality work over the long term—especially since even in Phoenix, the GC I’ve worked with has been inconsistent with pricing over time.

Ying Tang · Answer

@Sam McCormack

Thanks for the recommendations! I actually have read Rich Dad, Poor Dad—definitely a foundational one. I haven’t gotten around to Multifamily Millionaire yet, so I’ll check it out. So Good They Can’t Ignore You sounds really interesting.

I love how your journey unfolded. It’s encouraging to hear how mastery and consistency eventually led to real fulfillment in a career you didn’t originally see as your “dream job.” That’s a great reminder to stay committed and open-minded. Appreciate you sharing that.

Ying Tang · Answer

@Andre Brock Hi Andre! Thanks for sharing! I'll check this one out.

Ying Tang · Answer

@Josh Young

Hi Josh,

Thanks for the reply! I’m starting to think I may have been looking in the wrong direction. So far, I’ve been focused mainly on buy-and-hold or light rehab deals that cash flow from the start (I’m doing co-living, so the cash flow threshold is a bit easier to hit).

From what I’ve seen, the fix-and-flip opportunities don’t seem to offer enough spread to make the numbers work—at least not with my current criteria. The toughest part is not knowing what I might be missing, which makes it hard to define exactly what I should be looking for. I was hoping that reading more would help broaden my perspective, so I really appreciate the book recommendations!

Book Recommendations While I Hunt for the Next Deal?

Book Recommendations While I Hunt for the Next Deal?

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