Rental Property Investor · Charlotte, NC · Member since 2019 · 100 posts · 26 votes
Hello! I am 16 and building my wealth early. I have finished my old reading list in the last month and am looking for new books. I have started my new list this week and so far I’ve read;
- bigger pockets book on managing rental properties
- the book on rental property investing
- thousand splendid suns
- Kite runner
- Richest man in Babylon
- The smart investor
- Think and grow rich
(These books can include reads like the alchemist, which just help give views on life, but ideally right now I’m looking to find more on investment strategies between the vehicle of stocks and real estate: particularly multi unit)
I’m looking for books that help enlighten us, as well for grow my knowledge in the realms of the overall investing mindset, theories, business startup and set up, management, accounting, financial and global economic understanding, and the “monopoly 1031 exchange method”
As we all know we have a lot of time now locked in doors, so please let me know!
Also are there any good books by Donald Trump, or Warren Buffet you could recommend, I would like to read a few if not all.
Investor · Clemson, SC · Member since 2008 · 179 posts · 156 votes
6y
Congrats to you for improving yourself and reading a lot! I wrote an article for BP that has my top 10 suggestions for real estate investing books for new investors. You may find it helpful. Someone also suggested my book above, and of course I'm biased, but I think that's a good one:)
Investor · Georgetown, Tx. · Member since 2019 · 149 posts · 69 votes
6y
I would recommend the "The Intelligent Investor" by Benjamin Graham. It's not on real estate, mainly stocks. But the principles of the book apply to both real estate, stocks, and investing all around.
Specialist · Plano, TX · Member since 2020 · 2k+ posts · 861 votes
6y
@Owen Thornton It is very impressive that you are building such a great list at a young age on this topic. Out of the ones mentioned above, which one is your favorite one so far?
Rental Property Investor · Erie, PA · Member since 2015 · 1k+ posts · 2k+ votes
6y
Never Split the Difference by Chris Voss.
Lots of people on BP have recommended this book (mainly podcast guests). I finally got around to reading it and learned some good, new negotiation skills.
Rental Property Investor · Port Coquitlam, BC · Member since 2017 · 520 posts · 527 votes
6y
@Owen Thornton What books were on your old list? I assume you've tackled the Rich Dad stuff... good for establishing the mindset of 'why' to invest.
I just finished reading 'Crushing it in Apartments and Commercial Real Estate" and would recommend it; easy read and author was on the BP podcast (EP 126)
If you want to go off on all kinds of tangents, 'Tribe of Mentors' by Tim Ferris has interviews with hundreds of leaders, most of whom recommend their 3 most transformational reads. You can find a consolidated list here: https://tim.blog/2017/11/18/bo...
Good luck on your journey and don't hesitate to reach out to members on the forums. Many of us are here to help!
I just finished "How to Create Wealth Investing in Real Estate" by Grant Cardone. It had lots of information stuffed in those pages. Just skip the last chapter because that's when he talks about Cardone Capital.
And I have more books by Trump and Buffet than anyone. I haven't completed any of them yet, though they're pretty high on the list so it won't be long. Out of the books, the ones that look most appealing to me are:
"The Best Real Estate Advice I Ever Received" - Donald Trump
"The Snowball" - Warren Buffet
Some books appeal more towards information about real estate, some appeal more towards the mentality you should have towards real estate and life in general. From my initial skimming of those two books, Trump's book seems to be full of real estate specific information, and Buffet's book seems to have a lot to do with his personal success story, and how he built a "snowball" that got bigger and bigger the more his investments compounded overtime.
Investor · Minneapolis, MN · Member since 2017 · 95 posts · 130 votes
6y
Love that you're filling this downtime with educating and growing. Here are some of my all-time favorite real estate and business books:
What Every Real Estate Investor Needs to Know About Cashflow - Frank Gallinelli - Fantastic book explaining some of the key return metrics you're going to measure a deal against.
The ABCs of Real Estate Investing - Ken McElroy - Great overview of real estate investing.
The One Thing - Gary Keller - Multitasking is for chumps. Focus is the key to success.
So Good They Can't Ignore You - Cal Newport - Forget pursuing your passion. Competence breeds passion. Great mindshift book.
Rental Property Investor · Charlotte, NC · Member since 2019 · 100 posts · 26 votes
6y
@Marlen Weber hello! I have to say of what I have read, I love The Richest Man In Babylon, simply because of its history and it has such a feel to the book, it’s short, but it really gets my head spinning, it’s pretty basic but impactful.
I found the Rich Dad books (3 of them) quite good, as they are mostly motivation, and what really got me into bigger pockets in the first place must have been How to invest in real estate rental properties by Brandon Turner, which was a really good one I found motivating.
Salem, OR · Member since 2019 · 33 posts · 23 votes
6y
You ready to read something that's a little less real estate specific, but will still open your mind to some brilliant concepts?
Range by David Epstein. It's about how experts are terrible at making predictions even in their own fields. Generalists are so much better at predicting the future and preparing for the next thing.
American Icon by Bryce G. Hoffman. It's a biography of Alan Mullaly's time as CEO of the Ford Motor Company. You may never be in the auto industry, but if you ever plan on building a team around yourself to reach your real estate goals, pay attention to the leadership lessons in this book.
Real Estate Consultant · Lansing, MI · Member since 2011 · 356 posts · 306 votes
6y
The Personal MBA by Josh Kaufman is top notch, and gives you a crash course in business education that can be applied to a myriad of industries. You wont be sorry
@Marlen Weber hello! I have to say of what I have read, I love The Richest Man In Babylon, simply because of its history and it has such a feel to the book, it’s short, but it really gets my head spinning, it’s pretty basic but impactful.
I found the Rich Dad books (3 of them) quite good, as they are mostly motivation, and what really got me into bigger pockets in the first place must have been How to invest in real estate rental properties by Brandon Turner, which was a really good one I found motivating.
just sent my 13 yr old nephew the richest man in Babylon. dunno if he'll read it. but i really liked it
Rental Property Investor · Canton, OH · Member since 2017 · 1k+ posts · 1k+ votes
6y
@Owen Thornton
That's awesome Owen! I wish I had your mindset when I was 16 years old. Anyway, 2 books that changed my life were Rich Dad Poor Dad, and the Millionaire Real Estate Investor. Best of luck!
Investor · Campton, NH · Member since 2010 · 284 posts · 142 votes
6y
Substitute your book spend for taking local, successful investors out to breakfast - you'll make a connection for potential joint ventures, an investor to sell to and a possible source of private funding, plus you get 1.5 hours to pick someone's brain about what they've learned, all for $25!! :)
Substitute your book spend for taking local, successful investors out to breakfast - you'll make a connection for potential joint ventures, an investor to sell to and a possible source of private funding, plus you get 1.5 hours to pick someone's brain about what they've learned, all for $25!! :)
good points! not what u know it's who you know.
& any investor that made a 16 yr old pay for breakfast you probably don't want advice from! but still offer & go to breakfast. guessing 95% of breakfasts turn into free breakfast :)
So Good They Can't Ignore You - Cal Newport - Forget pursuing your passion. Competence breeds passion. Great mindshift book.
Really close to using an Audible credit for your Newport book suggestion. Reviews really good. 4.4 stars 4.2k reviews. 6 & half hours. Always feel like not getting as good a value if book isn't long. for physical copy, still expensive on eBay & Amazon (normally sign book is really good)