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Updated 11 months ago on . Most recent reply
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Book Recs Based on Particular Interests and Previous Reads
Hello all,
About me:
Thank you in advance for any comments you leave. I am a 21 year old investor based out of Brooklyn, NY w/ two investments properties (payed off mortgage) that I manage and I have been pushing forward and researching and reading and learning as much as I I can about real estate. I want to learn about rental properties as well as fix and flips to maximize my knowledge after graduation of a chemical engineering degree next year.
Books I have read:
- The Book On Estimating Rehab Costs by J Scott
- Land lording on Autopilot
Books I own and want to read soon:
- The Millionaire Real Estate Investor by Gary Keller
-What Every Real Estate Investor Needs to Know about Cash Flow by Frank Gallinelli
My question:
Im lacking some knowledge as well as trying to understand the metrics investors use to keep track of different types of data both when buying and selling and also down the line for refi and PL spreadsheeting.
I guess what I am looking for in terms of a book is something that will walk me through real estate vocabulary (cashflow, equity (how agents speak), etc.... The Frank Gallineli book seems to have a good amount of financial information and will then be the next read for me as "The Millionaire Real Estate Investor" seems a little more mindset based. As engineers we tend to focus on things we can grasp with numbers and conversations, which is why I am wondering what you guys think is a good idea. Any other book recommendations are great, I just want to be able to have a conversation with those more experienced and not have them look down at me for being young and not real estate literate.
In addition, if anyone has spreadsheets or services they highly recommend for beginners. (I currently have a P&L spreadsheet that has been working great for me thus far), but when it comes time to make important calculations every bit of mentorship along the way will be incredibly important. Feel free to connect with me as well if you want to start a conversation.
Thank you all,
James Aravena