I'm on the verge of finishing up another book on multifamily investing, and it made me curious... What're my fellow BP member's all-time favorite REI books, and why?
I'm curious to hear what everyone has to say!
It isn't a real estate book but a strategy book The Art Of War by Sun Tsu. Most of the book is about strategy and some of the main applicable lessons are if you are going to lose the battle (or in real estate lose money or not be able to make the deal work) don't spend your time and resources going after a lost cause, save it for the next battle/ deal.
(and I'm not a huge fan of real estate books in general because they are either too broad or to specific to a location that I don't invest in)
Thanks, Aaron! I've only heard good things about that book, so I'll add it to my list!
Creativity Inc was written by the founder of Pixar, Ed Catmull. No this is not a true real restating investing book, but it discusses harnessing creativity in the workplace. The conceptual ideas are very applicable to creative real estate investing. Great read for all business owners!
@Josh Huber I really liked "ABCs of Real Estate Investing" by Ken McElroy. Ive referred back to it several times and its really the book that convinced me multi fam is the way to go.
Hopefully others can suggest more as I am also looking for more books on this topic.
check out my site @Josh Huber . I have a list of the most influential REI books I've read as well as my 2018 must read list. Happy reading!
I did like ABCs of Real Estate Investing and the author did makes a very good case for large multi family investing but I will 2 additional books: 1) Landlording on Auto pilot. I have heard the author of this book lost a lot of net worth in the great recession but it does not mean that he does not present many good ideas as much as that his local market was Detroit (pretty much anyone invested in Detroit lost a lot of money). 2) Rich Dad Poor Dad: What The Rich Teach Their Kids About Money - That The Poor And Middle Class Do Not! it is not a pure RE book but RE is certainly a primary means in the book.
I am in the process of teaching my son many of the lessons from the Rich Dad, Poor Dad book. His is 15 years old and has been involved with real estate since birth. I have offered to seed his investment account for his birthday with ~5x what I would spend on his birthday present with the condition that he can not pulled out the seed money. He is still deciding but in the time that he has been deciding the stock market has done quite well. If he had taken me up on my offer when it was initially made he should have been close to having accumulated what I will be spending on his birthday present if he chooses that route. There is multiple lessons in this nugget: snooze you lose/value of getting started, cost of indecision, compounding, etc.
How to Win Friends and Influence People by Dale Carnegie - Not really a RE book, but it's a relationship book and that's what real estate is! A relationship-based business!
The Millionaire Real Estate Investor is definitely a must read by Gary Keller. HOLD is a really good one as well by Steve Chader regarding buy and hold investing. Also highly recommend The One Thing by Gary Keller (not specific to real estate but is really good!!).
Millionaire Fastlane by MJ DeMarco, an explosive wealth accelerator, utilizing passive income to live rich for a lifetime.
Great list. Thanks for the recommendations everyone!
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing