13 Best Books on Real Estate Investing
Real estate investment covers a broad spectrum of strategies, spanning from house flipping and acquiring rental properties to venturing into the commercial sector. Achieving success and profitability in real estate requires a substantial amount of knowledge. The good news is that there is an abundance of exceptional books available to enrich your comprehension and support your endeavors.
Below are some of the top-rated must-read best books on real estate investing just starting out or looking to grow. These Best Books on Real Estate Investing are recommended both by experts and successful investors who credit these resources with shaping their profitable investing approach and mindset.
Here are the 13 Best Books on Real Estate Investing that you must read:
1. The Millionaire Real Estate Investor
By Gary Keller
Summary: This book provides an overview of the entire process of building wealth through real estate investing. Keller covers the models, mindset, and actionable systems needed to invest at a high level. Key topics include:
- The 3 types of real estate investors and how to decide which you want to become
- How to develop your real estate business plan and goals
- Understanding the economics of real estate investing
- Building your real estate team, including agents, lenders, managers, etc.
- The 7 key areas to run a successful real estate investing business
Filled with concrete examples, this book is a perfect foundational read to introduce you to smart real estate investing.
2. The Book on Rental Property Investing
By Brandon Turner
Summary: Turner provides practical step-by-step guidance on building wealth with rental properties. Some of the helpful topics covered include:
- How to find good rental property investments using key criteria
- Negotiating the purchase and financing rentals intelligently
- Screening ideal tenants thoroughly
- Setting the right rent prices and customizing leases
- Managing your property or hiring a manager cost-effectively
- Tax implications and asset protection strategies
With detailed advice on making rentals profitable, this book is ideal for beginning real estate investors. Turner’s book gives you the confidence to take action.
3. The ABCs of Real Estate Investing
By Ken McElroy
Summary: This book provides definitions and explanations for all the key terminology, principles, and strategies in real estate investing. McElroy covers topics like:
- Key real estate niches from single families to commercial property
- Financing options include mortgages, partnerships, REITS, and creative financing
- Essential calculations like ROI, Cap Rate, DSCR, Gross Rent Multiplier
- Terms for leases, appreciation, taxes, regulations, and much more
Ideal for total beginners, this Best Books on Real Estate Investing builds literacy on real estate investing concepts so readers can converse knowledgeably and make informed decisions.
4. The Book on Flipping Houses By J Scott
Summary: Scott’s book presents a step-by-step guide to profiting from flipping real estate. Key topics include:
- How to find undervalued properties with upside potential
- Estimating accurate rehab costs for flips
- Using a team of contractors, agents, and lenders to execute a flip
- Securing financing for flips with loans or investor capital
- Marketing and selling your flips for maximum profit
- Minimizing taxes on flip profits
From start to finish, this book takes you through a complete house-flipping plan so you can profit from this short-term strategy.
5. Building Wealth One House at a Time
By John Schaub
Summary: This investment book provides a proven system for profiting from buying and holding real estate. Schaub offers valuable insights on:
- Achieving diversification for lower risk and steady cash flow
- Financing properties intelligently with mortgages and equity
- Marketing to find deals, including foreclosures and auctions
- Adding value through upgrades, renovations, and sweat equity
- Building your portfolio over time with a wealth-focused approach
Geared towards long-term wealth building, Schaub’s advice helps investors assemble an income-producing real estate portfolio.
6. The Book on Estimating Rehab Costs By J Scott
Summary: Learning to accurately estimate rehab costs is a critical investing skill, whether you fix and flip or buy and hold. This excellent book provides renovation rules and tips to guide investors, including:
- How to inspect properties and identify needed repairs
- Estimating costs for over 30 common repairs and replacements
- Budgeting for contingencies using accurate percentages
- Managing contractor’s bids and change orders
- How to value after repair value using comparable sales
- Calculating allowable acquisition costs
With repair costs being a major expense and risk, this essential book helps investors expertly assess deals and maximize profits.
7. The Book on Managing Rental Properties By Brandon and Heather Turner
Summary: Written by an investing couple, this book provides best practices for overseeing rental properties profitably. Helpful topics include:
- Setting optimal rent prices
- Marketing vacancies to find good tenants quickly
- Screening tenants thoroughly including credit checks and references
- Inspecting units and enforcing lease terms
- Maintaining properties cost-effectively
- Managing tenants, rents, and expenses with software
- Complying with legal landlord requirements
Hands-on property management is vital for investment success. This Best Books on Real Estate Investing offers practical systems to reduce headaches and maximize returns.
8. The Due Diligence Handbook for Commercial Real Estate By Brian Hennessey
Summary: This is an invaluable guide to researching and assessing potential commercial real estate purchases. Hennessey provides concrete advice on topics like:
- Physically assessing properties, sites, leases, and facilities
- Researching markets, demand, and competition thoroughly
- Reviewing zoning, permits, and regulatory issues
- Evaluating environmental and legal liabilities
- Modeling cash flow projections conservatively
- Auditing rent rolls, leases, and operating expenses
- Calculating allowable price based on realistic assumptions
The in-depth guidance helps investors undertake proper due diligence to make informed commercial real estate decisions and avoid costly mistakes.
9. Investing in Rental Properties for Beginners By Larry B. Loftis
Summary: As the title conveys, this book presents an excellent introduction to rental property investing geared towards total beginners. It provides education on:
- Benefits of rental real estate as an investment class
- Understanding cash flow, appreciation, leverage, equity
- How to research markets, neighborhoods, and properties
- Financing rentals with loans or rental property partnerships
- Landlording duties like marketing, tenant relations, and maintenance
- Accounting, record keeping, taxes, and insurance for rentals
With clear examples, Loftis builds foundational knowledge for new rental property investors to make informed decisions.
10. Investing in Real Estate By Gary Eldred
Summary: Eldred’s top-selling investment book educates on proven strategies and principles in an engaging story format. It teaches:
- How to invest profitably for cash flow even in down markets
- Becoming a savvy investor with a fundamental education
- Evaluating smart property opportunities beyond residential
- Renovation and operating costs to consider
- Working with reliable real estate professionals
- Achieving tangible investment goals
- Creative tips like bird-dogging and wholesaling
The story narrative provides both inspiration and practical instruction for novice investors.
11. The Intelligent REIT Investor By Stephanie Krewson-Kelly
Summary: This Best Books on Real Estate Investing offers expert guidance on building wealth by investing in real estate investment trusts (REITs). Key topics include:
- Understanding what REITs are and their historical performance
- How to assess REITs using metrics like FFO and NAV
- Investing directly in stocks or through REIT ETFs and mutual funds
- Special tax considerations for REIT investing
- Private versus publicly traded REITs
- International REIT markets
- Specialized REITs in areas like mortgages, health care, and timber
REITs provide diversification into commercial real estate. Krewson-Kelly helps investors incorporate them optimally into their portfolios.
12. Real Estate Finance and Investments By William Brueggeman and Jeffrey Fisher
Summary: This highly-regarded textbook provides in-depth coverage of the wide range of real estate investments. Key topics include:
- Urban planning concepts
- Residential, retail, industrial, multifamily, REIT market sectors
- Real estate cycles, bubbles, and recessions
- Mortgages, securitization, lending markets
- Financial statement analysis for properties
- Development process and proformas
- Brokerage, property management
- Investment risks: environmental, legal, market
Ideal for dedicated students of real estate, this Best Books on Real Estate Investing offers unrivaled depth explaining the complexities of the real estate process, analysis, and valuation.
13. Think and Grow Rich By Napoleon Hill
Summary: While not strictly focused on real estate, this classic personal development book is frequently cited by investors as instrumental in shaping their psychology of wealth and success. Hill shares principles on:
- Cultivating an abundant mindset
- Goal setting and visioning
- Developing knowledge and expertise
- Budgeting time and money efficiently
- Building cooperative relationships and connections
- Having faith and purpose greater than just accumulation
Hill studied the habits of extremely successful individuals like Andrew Carnegie and Henry Ford. The wisdom he shares applies very fittingly to prospering in real estate.
Best Books on Real Estate Investing (FAQS)
Here are some common questions about Best Books on Real Estate Investing:
What Best Books on Real Estate Investing for Beginners?
Answer: The ABCs of Real Estate Investing provides an excellent overview of key concepts, terminology, and strategies. Books by Brandon Turner also convey beginner concepts clearly.
Should I read bigger textbooks like Brueggeman’s for an in-depth education?
Answer: Absolutely, if you have the time and dedication. This textbook is used in many college real estate investment courses.
What is the Best Books on Real Estate Investing on becoming a real estate agent?
Answer: Jeffrey Glover’s The Ultimate Guide to Becoming a Real Estate Agent is a top-rated choice for learning the agent business.
Is Think and Grow Rich still relevant today?
Answer: Yes, very much so. While originally published in 1937, Hill’s wisdom on cultivating a prosperity mindset is timeless.
For flipping houses, is J Scott’s book better than others?
Answer: There are several good flipping books, but Scott’s is very thorough. Some alternatives to consider are Fix and Flip and The Complete Guide to Flipping Properties.
The Best Books on Real Estate Investing provide invaluable guidance and education for maximizing returns safely. Absorbing their lessons can accelerate success.
Best Books on Real Estate Investing Conclusion:
Taking the time to study real estate investing – through formal education, quality books, and mentors – will put you on the path toward success. The Best Books on Real Estate Investing above are consistently top-rated by successful real estate investors for providing the knowledge, skills, and mindset needed to thrive. Focus first on foundational books for your chosen niches and investing strategies. Then advance into more complex textbooks like Brueggeman’s to keep honing your expertise. Mentally absorbing key principles creates an abundant, prosperous mindset. With commitment and focused effort, thoughtful real estate investing can help you achieve financial freedom.
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