Great Real Estate Books for New Investors

[Michael High]

Hi BP Community,

My name is Mike High, I'm 24, and have been obsessively educating myself for the past year so i'll be as prepared as possible (without real experience) when my first deal comes along.

Through my education, I've read some essential real estate books that truly helped me gain a strong understanding of real estate investing and I believe these books will do the same for other new investors. I wanted  to provide a quick summary of the top 5 books I think all new investors should read and understand. Well here it goes:

1. Set for Life: Dominate Life, Money and the American Dream by @Scott Trench

• Aside from the classic Rich Dad Poor Dad, Scott Trench's Set for Life is the perfect book for new investors to get their mindset right. Most people on this site are here for a common reason - to become financially free and 'retire' at a early age. In order to do this, we must be in the right mindset to achieve these goals, because it is no easy task.
• Scott maps out a doable plan for savings and investing, he presents well-researched and detailed information to support his plan, and uses realistic examples to highlight the benefits of following his advice.
• Scott outlines a plan for living a frugal lifestyle for the purpose of getting our finances on track and in a controlled state. He details a crucial concept of emotional maturity and living a strict lifestyle now to be able to live the lifestyle you want in the future.
• Any new investor should pick up this book so they can have the right mindset as they begin their path to financial freedom.

2. The Book on Investing in Real Estate With No (and Low) Money Down by @Brandon Turner

• As new investors explore the vast amounts of information on BP, they will see the name, Brandon Turner, come up a lot and for good reason. Brandon Turner is the host (former co-host...) of the BP podcast and author of 5 books. Safe to say, he knows what he's talking about.
• For most new investors, a big struggle is finding the capital to jump start their real estate investing career. This book helps new investors overcome their fear and the huge misconception that someone needs a lot of money to begin investing in real estate.
• Brandon outlines battle tested strategies that he used to begin his investing journey with none of his money. He provides detailed examples to explain the strategies and empowers the reader to begin thinking of ways to implement the strategies in the book.
• This book is a must read for all new investors to help them think of creative ways to buy their first deal and is one of my favorite (although I've never read a bad book published by BP).

3. Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties by @David Greene

• Although this book is titled 'Long-Distance Real Estate Investing', the strategies and systems David Greene explains in this book can and should be used by any new real estate investor, regardless of if they plan on investing local or out of state.
• Like Brandon Turner, David Greene contributes a massive amount of incredible content to BP and is the current co-host of the BP podcast.
• David's book is one of the most detailed and well-thought out real estate investing books I have read. He outlines, from start to finish and everything in between, exactly what a new investor needs to do to find, buy, rehab, and manage their first deal.
• David provides step by step processes, actionable content (i.e. email templates), and tools of the trade everyone needs to know to become a pro in their investing career.
• After reading David's book, I felt like I knew exactly what I needed to do and would be well prepared to buy my first deal and any new investor will feel the same once they read this book.

4. The Book on Rental Property Investing by @Brandon Turner

• It's no surprise that Brandon Turner has two books on my list. He is seriously a new investors best friend.
• Brandon's book on rental property investing and David's book above are the two most detailed real estate investing books any new investor could ask for.
• In this book, Brandon outlines exactly what investors need to be aware so they can be successful when buying long term rental properties. From locating the best areas/neighborhoods, finding great deals, applying for a mortgage, finding great tenants, and managing your properties like a business, Brandon touches on about everything new investors could want when beginning their real estate education. 
• Just a suggestion BP, this book and David Greene's 'Long Distance Real Estate Investing' should be sold as a package because these two books together provide the strongest knowledge base for any new investor. Seriously, these two books provided me with so much knowledge and will do the same for anyone starting out; as the saying goes, "these books taught me everything I know".

5. The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss by Ken McElroy

• Last but not least, finally a book not published by BP, I promise I don't work for them. Ken McElroy's 'The ABCs of Real Estate Investing' gives new investors a sneak peek into the world of Multi-Family investing but also provides excellent fundamentals for every investor to master.
• Ken really drills down on the fact that you make money in real estate when you buy a deal right. He provides great tips and strategies for market analysis and how to find undervalued deals.
• He stresses the idea of looking for diamonds in the rough where the property is undervalued or the operations aren’t getting as much money out of the place as they could.
• This book gave an invaluable 'big picture' view of real estate investing that I believe all new investors would benefit from.

It's not a shock that 4 of my 5 recommended books for new investors have been published by BiggerPockets. The BP team is doing amazing work and makes real estate education an incredibly easy and fun process; BP provides all the tools and opportunities, it is up to us new investors to put the work in and listen to the podcasts, read the books, comb through the forums, and reach out to more experienced investors to reach financial freedom. Keep up the great work BP, we all truly appreciate. 

I everyone likes this post and finds some value in it, feel free to connect with me and talk more!

Mike High