What are the best real estate books to begin with for self-education?
Posted on October 26th, 2009 in Renting & Real Estate | 4 Comments »
fatcat19139 asked:
I’m looking to change careers into real estate, and have a personal interest in beginning a portfolio of investment properties. What are the best books out there dealing with real estate finance, buying foreclosures, renting properties, flipping, and understanding the general market? Also, what newspapers/magazines do you recommend?
4 Responses
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There are some good books out there but generally they give you either the view from 30,000 feet or they is an agenda that is not grounded in reality. The best thing to do is to get specific about what you want to do in investments: residential, multifamily, retail, office, ground leases, part of a TIC, an investment team, or single source investment. Then know your market where you want to invest. Get to know everyone that can effect or support your investment area: city planners, neighborhood associations, etc. There are loads of things you should do but first you need to get specific about what you want to do.
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I am not really sure on what is all out there today but when I started I bought the Carlton sheets (I hope I spelled it right). This information gave me all of the tools for real estate investing. I did purchase a 3300 sq ft home and a business with only 300 dollars in my pocket. My wife and I now have a six figure income and will be absolutely debt free in 28 more months.
Mesa Real Estate listings
One of the first books my husband’s broker gave him was The Millionaire Real Estate Agent By Gary Keller, Dave Jenks, Jay Papasan.
If you take your test and pay your dues to the National Association of Realtors, you’ll receive Realtor magazine and have access to their on line articles.
Colorado Real Estate
There are soooo many.
For a good general investment book go with Jay DeCima’s Investing In Fixer Uppers, it’s one of the best I’ve read with all practical information that’s realistic. A lot of books have things that are great in theory, but very difficult to work out in real life.
When you’re ready to really do it find a local agent whom works with investors and can help educate you on investing in your area. Every market has different resources for finding good deals and experience is worth a lot when you’re investing in real estate and local market information can’t be learned from a book. It may be difficult to find a good agent whom you like and is willing to work diligently on your behalf, but it’s worth it. Knowing your market intimately is the key to making money investing, particularly if you’re flipping houses.