Every real estate investor should be an avid reader. Everyone, no matter how successful, can always become better at what they do and there is a ton of knowledge out there on both real estate and business that every investor should be trying to absorb.
So here are my top 10 real estate books that I would recommend to other investors.
10. Confessions of a Real Estate Entrepreneur – James A. Randel
I have never done commercial real estate, but this book certainly made we want to give it a try. Randel gives a lot of very sound advice on a whole host of various commercial investments. If one is looking to get into commercial real estate, there is no better place to start.
9. Investing in Real Estate with Lease Options and “Subject-To” Deals – Wendy Patton
Lease options and subject-to’s are a good way to get into real estate, especially if you don’t like owning property or don’t have a lot of money to start with. Wendy Patton gives a good description of these methods to buy (or more accurately, control) and flip real estate.
8. Multi-Family Millions – Dave Lindahl
Dave Lindahl is definitely the quintessential multi-family real estate investment guru. Here he gives a very helpful guide on how to find, negotiate, structure and manage the acquisition of a large multi-family property. If that is the direction you want to take your real estate business, this is where to look.
7. The Pre-Foreclosure Property Investor's Kit – Thomas Lucier
While it is a dry book, foreclosures are very possibly the best source of good leads in real estate investment and this is a very valuable resource on that front.
6. How to Buy Real Estate for At Least 20% Below Market – John T. Reed
John T. Reed give a good rundown on finding, negotiating and analyzing real estate deals, and does so with a no nonsense approach.
5. The Art of the Deal – Donald Trump
This is more of an autobiography, but it’s a helpful or perhaps inspiring one. Donald Trump drops the annoying act for a bit to describe some of the massive real estate development projects he has undertaken, many of which are quite fascinating and illustrative.
4. Flip – Rick Villani and Clay Davis
Flip is the best book I have seen exclusively on flipping real estate. The example stories are a bit boring, but the rest is pure gold. It is a step by step process of everything you need to do to find, buy, rehab and sell properties for a profit.
3. The Landlord’s Survival Guide – Jeffrey Taylor
I believe the best road to wealth lies in ownership. Unfortunately, ownership requires property management, which is a sorely neglected subject. Jeffrey Taylor is easily the most innovative property manager I have come across and his methods for tenant retention, leasing, raising rents and screening are a precious resource to landlords everywhere.
2. How I Turned $1000 into Five Million in Real Estate in My Spare Time – William Nickerson
This is simply a classic on real estate investing. William Nickerson gives a very thorough and detailed overview of what you need to know to get started in real estate. This is the third version of this book, the first version was only one million and the second to three million.
1. The Millionaire Real Estate Investor – Gary Keller
The Millionaire Real Estate Investor is the first book I would give to anyone who wants to become a real estate investor, and that includes both flippers and holders. In my opinion, it is the best place to start for any beginner and a good reference for any pro.