Are you a property speculator? Do you intend to invest in residential properties? Well, real estate investments can yield outstanding profits if you really know what you’re doing. Still, many new investors lack the requisite skills and knowhow about real estate investment. For that reason, it’s good to read books that will help you in real estate investment strategy, management, andmonitoring. You will get adequate knowledge and learn from top investors who have had significant success in real estate investing. Now, here are the top 3 books to read for all your residential real estate investment needs.
1) Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!
Are you seeking the best personal finance book of all time that focuses on real estate investment? This is the book for you! The Rich Dad, Poor Dad series has become an all-time finance classic, especially for beginners in real estate sector. With the millions of copies sold worldwide and translations into many languages, this is indeed a must-read book. While growing up with his father (Poor Dad) and his closest friend’s father, Robert acquired some crucial lessons about investing and money (Rich Dad). He now teaches readers how to distinguish between working hard and being intelligent and making money work for them.
It’s a book that’ll teach you how to earn passive income, identify your assets and liabilities, and invest wisely in real estate. The book has been sold worldwide and translated into dozens of languages. I’m not sure how many millions of copies of this book have sold to date, but it has established itself as a modern-day finance classic. This book can help you improve your financial literacy and give you a leg up on the competition if you decide to pursue a career in real estate.
2) The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits, Most Investors Miss
Now, if you’re new to real estate investing, The ABCs of Real Estate Investing is a good place to start. Ken McElroy, one of the rich dad advisors, is the author. This book focuses on achieving wealth and cash flow through real estate investments. A property’s potential is how to debunk real estate misconceptions for seasoned investors, negotiate agreements, analyze properties and the purchase price, boost a property’s income, and properly maintain a property. McElroy has over 26 years of senior-level multifamily asset and property management experience.
Furthermore, reviewers agree that this is an excellent first-time investor book, noting its informative and easy-to-read content. McElroy also discusses purchasing and holding real estate and how to succeed with this strategy. “There is no better book out there, in my opinion, if you are considering investing rentals.” Ken teaches his readers not only how to evaluate a property correctly but also how to manage it profitably. This book will definitely come in handy if you study his methods and follow his advice.
3) Long-Distance Real Estate Investing
A purchase and hold approach does not work for many real estate investors in their local market. Long-Distance Real Estate Investing; how to Buy, Rehab, and Manage Out-of-State Property is a great book by David Greene. State Rental Properties will help you develop the strategies you need to invest in favorable and profitable markets. While also managing risk and maintaining compliance. It’s one of the most famous novels in the Pocket Series. But, you know, he’s talking about living in a hot market or one that isn’t conducive to buying and holding investments because it’s simply too expensive.
So, how do I make use of real estate as a means of accumulating wealth? Greene shares his real-world experience in purchasing, managing, and selling properties, often without ever seeing them in person. He shares advice on establishing your management team, finding great markets and buildings, and keeping rehab and remodeling expenditures under control. Find the help you need to invest in real estate wherever and whenever you want.
Now, What Next?
While I can’t include all of the top real estate investment books in this article, the three listed above provide a thorough overview of how to excel in any real estate investing sector. Whether you’re new to real estate or a seasoned investor, you’ll benefit from the different tips, guidance, ideas, and best practices featured in each of these publications. Generally, the books serve as an eye-opener before you