Good reading suggestions for beginners?

Question

Hello!

I am new to the topic of real estate and I was introduced to it by a Canadian investor. He suggested I get started by reading some books by Don R. Campbell such as "Real Estate Investing in Canada" and "Real Estate Joint Ventures" and then attempting to translate their theories and methods into U.S law. Which so far has been a good start but I was wondering if anyone had some good book suggestions by U.S based authors? I have begun reading some of the articles in the education section of this website but I was hoping people had more in depth suggestions.

Also as it may influence the suggestions I get, I am looking to get into buy and hold rental properties.

Lane Kawaoka · Answer

Books – In this order1) Rich Dad Poor Dad2) Millionaire Real Estate Investor3) Cashflow Quadrant4) Equity Happens

It’s important to note that reading anymore is just overkill. Don’t be that ‘Shelf’-help guy or use the crux “oh I need to read and get more educated”. You need to step up and take action how many freaking books are you going to read? Many Fortune-500 Human Resources departments use the theory of 70-20-10 in developing employees which apply here. 70% is learned by doing, 20% learned from peers, and 10% is academic/book/classroom training.

Below is another rendition of the same theory. This also explains why after a few years of doing this podcast and helping others get started by modeling the way has accelerated my own growth.

Tim Ferris talks about the $100,000 MBA, where you don’t really go to school but you jump right in with your business/investment. This method may lead you to operate at a loss but you will have far more experience than getting that silly $100,000+ MBA degree from some brick and mortar school.

And a word on real estate training: Why would someone want to spend $20-30K on training when that alone is a down payment on a cashflowing property that you can learn through doing and make 300-400 a month cashflow. Heck, you could even buy an overpriced 2nd tier turnkey property and get your education that way too.

Caleb Stevens · Answer

If you haven't read this already, I strongly recommend Rich Dad, Poor Dad by Robert Kiyosaki.

I can almost garuntee every successful real estate investor has read this book.

It will change your life and the way you view money.

Adhirai M. · Answer

@Nathan Clifford I'm a newbie as well and I just read Biggerpockets's How to Invest in Real Estate and The Book on Rental Property Investing. Checkout other Biggerpockets books as well!

Nathan Clifford · Answer

I have indeed read Rich Dad, Poor Dad. It was a very good read, good suggestion thank you!

Cameron Braig · Answer

While not specific to real estate, "It Takes What It Takes" by Trevor Moawad is a great resource/read. It discusses the art of neutral thinking and overcoming challenges by getting to the truth to determine action. In a space like real estate where there challenges, variables (seen and unforeseen) natural thinking can be a useful way to overcome and grow.

Shai Flax · Answer

As I understood- you are an out of the country investor, right?

If so, the best book that I've read was "Long-distance real estate investing" by Davis Greene. A great practical book that will help you understand all the things you'll need to do and pay attention to when investing OOC.

Do you know what your investing strategy will be? If you do, that will make it easier to recommend...

Best of luck!

Hector Rodriguez · Answer

Try this list...

https://www.biggerpockets.com/...

Earl Borillo · Answer

Rich Dad Poor Dad and Cashflow Quadrant started it all for me.There are lots of suggestions from the BP Podcast guests as well.Oh, E-Myth is good too!Remember to read and apply! Don't be caught up to too much reading and have "analysis paralysis"

Jesse Fragale · Answer

I just posted a list of my top favs on my IG.  Here ya go https://www.instagram.com/p/CNJYgcQj7Pu/?utm_source=ig_web_copy_link

Nicholas L. · Answer

@Nathan Clifford David Greene's RE books are good.  For mindset and overall strategy, not just RE, check out Kristy Shen, Tanja Hester, Grant Sabatier, Paula Pant

Good reading suggestions for beginners?

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