But how can we become property investors? How can we spot the best deals and the best ways to monetize properties?
We prepared a list of the best books on real estate investing that will answer all these questions and more.
Best Real Estate Investing Books
We separated books into categories, each dealing with a different strategy of investing in real estate. We’ll recommend you two books for each of these categories:
- Mindset
- Property Flipping
- Rental Properties & Airbnb
- REIT Funds
The first two books on our list will make you think like a professional real estate investor. These books demystify the investment landscape and make sure you’re aware of the basic principles to become successful.
We considered several factors when selecting books for this list, such as the author’s expertise, awards, critical acclaim, and online reviews. We also included new and noteworthy titles to provide readers with a diverse range of options and keep up-to-date with the latest trends.
1. Rich Dad Poor Dad
by Robert T. Kiyosaki
A list of the best books on real estate investing would not be complete without this book. The book Rich Dad, Poor Dad is a best seller in investing and personal finance. One of the key lessons from the book is that we should have more assets and fewer liabilities.
As an example of an asset, it uses real estate investment which, if you do it right, generates consistent passive income. If you are introducing yourself to managing and investing your finances, this is a great book to start.
2. The Millionaire Real Estate Investor
by Gary Keller
Do you think you can only get rich if you have a considerable amount of money to invest in real estate? Are you struggling to believe in yourself? Do you need an initial push to invest in real estate?
If you answered yes to any of these questions, you should read this book which will help you with all these questions and teach you good principles you can apply in real estate investment.
Property flipping is a very popular way of making money with properties without holding them for the long run. The next two books on our list will give you a great framework to evaluate, buy, rehab, and sell residential properties and avoid typical mistakes that can be costly.
3. The Book on Flipping Houses
by J Scott
The Book on Flipping Houses: How to Buy, Rehab, and Resell Residential Properties is a no-fluff book with solid information about flipping houses. It covers the financial requirements, where and what to buy and how to find deals. Furthermore, it introduces a flip formula to ensure your investment is worth it, negotiating tips and due diligence.
If you are planning to buy a property and then sell it with profit in a short period instead of renting it, this book is a great investment.
4. The Book on Estimating Rehab Costs
by J Scott
A lot of your profit flipping a house comes down to how much you spend in its renovation. It’s a scary topic and costs can vary widely. If you choose the wrong contractor or buy very expensive materials, it will take a big toll on your profits. It’s therefore important to strike a good balance in property renovation to keep costs under control.
The Book on Estimating Rehab Costs gives you the framework and methodology you need to invest in real estate rehab. After reading this book, you will be able to evaluate renovation costs.
If you have no knowledge of construction and contracting costs, the book will explain how you can react to quotes and be comfortable in managing them. However, if you are knowledgeable, then the book will give you a consistent and efficient method to renovate properties with investment in mind.
Buying properties to rent out long term or short term is an excellent way to generate meaningful passive income. The focus here is to buy properties at a price that makes sense, when taking into consideration the rent you will receive from it. The two books below are the best guides you’ll find on these subjects.
5. The Book on Rental Property Investing
by Brandon Turner
The Book on Rental Property Investing covers in detail all the decisions you need to make before investing in a property. On the location topic, it lists twelve parameters you should evaluate before deciding to invest.
For rental property success, it lists five key points that you can use as a process to invest in a property. However, it doesn’t enforce that process as the only way to invest in rental properties.
It also covers other strategies such as building wealth through single-family properties and it encourages the reader to choose the strategy that works best. The writer’s passion is quite visible, so you are likely to be inspired after reading this book.
6. The Turnkey Revolution
by Christopher D. Clothier
The Turnkey Revolution is a how-to manual on buying turnkey rental properties. This eBook has practical explanations and examples, making it clearer to understand the concepts.
It covers the basics such as explaining what a turnkey rental property is and why you should invest. Furthermore, it covers more advanced topics like the steps to buying and guidance on decision making.
Real Estate Investment Trusts (REITs) are an alternative way to investing in real estate – without owning a property. REITs have lots of advantages, but it is a complex topic to master. The book below is a great choice to build a strong foundation in REITs.
7. The Intelligent REIT Investor
by Stephanie Krewson-Kelly and R. Brad Thomas
The Intelligent REIT Investor is an introductory book on REIT investment. The book starts with the basics, explaining what a REIT is and why you should invest in REITs. Furthermore, it goes into all the details of how to invest, how to analyze REIT performance, and describing the different types of REIT properties (health-care, office, residential, etc).
Conclusion
These are the best books on real estate investing in 2023 that you can read. There are different ways to do real estate investing, such as buy to let, buy to sell, or not owning properties but benefiting from their cash flow via REITs.
In our list, we covered the different possibilities and included books that give you the tools you need to be a successful investor.
These books enable investors to better understand real estate in order to make better investment decisions.
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