Think of a book youve read in the last 3 months that you gleaned the most knowledge from. Share with the group the title and author and one reason why it was so great!
Fast Forward Investing by Jon D.Markmanâ¦. Why? A glimpse at the emerging technologies that are here now, and how they will affect our very near future. Fascinating and has sparked many ideas to position myself now for the sweeping changes in the REI world
@Jeffrey Douglas These were all audio books. All are very easy to follow as an audio format and I found all of these interesting. (not all books translate well to audio)
Profit First by Mike Michalowics - This talks about business finances and budgeting in an a way that is easy to understand and apply way.
Never Split the difference by Chris Voss - This is a book on negotiating by a former FBI negotiator. It looks at negotiating from a different perspective than most negotiating books. It is more about overall relationship and strategy than specific techniques.
The Goal. by Eliyahu M Goldblat - This is an older book from the 70s? It is an interesting fictional but educational story about a manufacturing plant and what they did to become more productive.
Noe of these is specifically about real estate. The first two probably have more application for REI. The last one I add just because it was a fun to listen to business book. It would be helpful in building processes and systems.
I like Retire Early with Real Estate by Chad Carson. I have the audiobook and I listen to it everyday to and from work.
It is not really real estate related, but definitely mindset and motivation related. While I didn't directly relate to a lot of the stories, the themes behind them are powerful and really make you re-think where you are and what you've done in life. If you are like me and looking at ways to "start over" in life, or do something big and different, I highly recommend it.
Life's Golden Ticket: A Story About Second Chances
The book of Ecclesiastes . It’s about the richest man in the world at that time having everything he wants but realizes it’s all in vanity . It’s deep and makes you realize what’s important and how everything is passing away .Many lessons can be found in it about wealth and the pursuit of happiness.
The Alchemist. Great lessons about not letting oneself be distracted by background noise and keeping one’s eyes on the prize.
I have not read a really good book in the last three months, something eye-popping. Going back further, however, the book that's made the biggest impact on me in the last two years is called The Two-Income Trap that Elizabeth Warren and her daughter wrote together. In it, Warren goes through a bunch of tax data and bankruptcy interviews and convincingly concludes that modern two-earner households tend to fall bankruptcy at a faster rate than older single-earner households because too much of their income is sunk into paying off the mortgage, the car payments, and various outsized monthly bills. It's not wasteful consumer spending, it's not a shamelessly immoral attitude about bankruptcy, it's not the high cost of health care, it's not bad investments, it's being spread too thin by putting a high percentage of their income into their household's fixed costs every month. Then, these households are just not able to adapt quickly enough when their financial situation changes, a situation based on two jobs and therefore two chances to experience income disruptions. That's what drives two-earner households into bankruptcy at an increased rate.
The reason this conclusion in this book was so startling for me is that, coming from a definite politically liberal viewpoint, Warren follows the government's data on poverty and reaches exactly the same basic conclusions about how families should not spend their income that an extremely conservative popular personal finance author, Thomas Stanley, who studied the affluent relentlessly for decades to write The Millionaire Next Door and other titles, also did. If that wasn't enough, @Scott Trench , in his book Set for Life (published by BiggerPockets' publishing arm), also pinpoints exactly the same issue as the most important one in initially building wealth.
A pinko politician, a financial analyst/real estate investor, and a hardshell conservative business professor studied bankruptcy,personal finance, and how the rich get rich and stay that way, and they all ended up saying exactly the same thing. That's something.
The data we have is so compelling it doesn't matter what assumptions you approach it with. The conclusions are inescapable to any functionally rational mind. People spend far too much money on their housing, and to a lesser extent their transportation situations and other fixed monthlo costs, and it very much keeps them in debtors' prison their whole lives.
It was more than enough to convince me, and it's making an enormous difference in my own life.
I listen to audiobooks, holds my attention more. I have a tendency to get distracted with actual books. But one audiobook I would suggest is "Cant hurt me" by David Goggins. Really eye opening. The audiobook version is about 12 hours long, but it holds your attention with a built in podcast.
Its not Real Estate related, but its eye opening. If you think youve had it tough, listen to this guys story. It reminded me to keep pushing forward despite the challenges i face.
I enjoy audiobooks much more. I think every investor or agent should read Zig Ziglar's books. Amazing reads and some valuable lessons in sales and life. Trying to get a seller to agree to your offer use Zig's info. I remember reading a quote of his " People don't care how much you know unless they know how much you care" This stuck with me at a very young age and I reflect on this all the time. Its so true and I run my business with this mentality.
@Brian Ellis this book is definitely on my list. I am relistening to “The Miracle Morning” right now.
@Jeffrey Douglas I read “Cash Flow Quadrant” 10+ years ago and it changed my life.
I average about one book a month and have read some great ones. I just read “Profit First” a few months ago and I think that one might also change my life/trajectory
Property Magic: How to Buy Property Using Other People's Time, Money and Experience.
It's primarily applicable to the UK, but this was the first book I read that sparked my interest in Real Estate.
The One Thing by Gary Keller combined with Principles by Ray Dalio - read them back to back and you will have enough to keep you busy (and thinking) for a while.
Man's Search For Meaning by Viktor Frankel
I do not use this phrase lightly: it is a book that altered the way I viewed human the human condition and my brief time on earth.
Pretty quick easy read. Richest Man in Babylon.
@Jeffrey Douglas . Honestly the best book i have read this year is The Book on Rental Property Investing by Brandon Turner. This book details extreme importance on everything about rental properties, numbers, analyzing, mindset, etc.. I swear by this book and feel it should be mandatory for every rental property investor!!
@Ned Carey I just bought never split the difference in Paperback and have yet to read The Goal but i do own it. Awesome Stuff. Yeah Im always excited to learn something new everyday. I like audios and paperback. Just finished The Magic Of Thinking Big on Audio a few weeks ago.
@Dennis M. Ive read it a few times, the Bible is one of my daily go to's!
@Wesley Whitehead ReReading it again now and picking so much up the second time through
@Jim K. Ill have to check it out! Sounds interesting. I finished reading J Scotts book a few weeks ago really eye opening.
@Brian Ellis ive heard of that book and seen a youtube with him but havent read it. Ill have to check it out
@Frank Wong Ah Zig is the man! I love listening to his audios or videos on you tube! Such a legend. I think ive read on of his books. Life Lifters i think its called.
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