All Forum Posts by: Nicholas Gayton

@Cameron Braig - I’ll check it out, thanks for the recommendation! 

@Danielle Jackson

 Love that, I’ll add that book to my list. Thanks for the recommendation!

Hello BP!

As 2021 winds down, I wanted to share some of my favorite books I've read over the past year or so with a brief description.

Would love to hear from other's what books they loved this year and what they have on their reading list for 2022.

Happy Holidays!

Real Estate:

• · Long Distance Real Estate Investing by David Greene
  • o Loved this book on how to invest in real estate out of state. Helped inspire me and 2 friends (partners) to find a market out of state, and purchase our first property. Great “how to” and inspirational guide to Out of State Investing
• · The Millionaire Real Estate Investor by Gary Keller
  • o More high level of a real estate investing book, and less in the weeds, but very inspirational and has many great takeaways on how to build wealth in real estate.
• · How to Invest in Real Estate by Brandon Turner
  • o This book to me was like Real Estate Investing 101, and was an amazing crash course on everything you need to know about getting into real estate investing.
• · The Book on Rental Property Investing by Brandon Turner
  • o This was the very first book I read about real estate and really lit a fire in me to eventually pursue real estate investing. Absolutely loved this read.
• · The House Hacking Strategy by Craig Curelop
  • o Just finished up this book (December 2021), and really enjoyed Craig’s book. Takes a deep dive into what House Hacking is, why it’s an important vehicle to grow your wealth and work towards financial independence, as well as HOW to do it.
• · The Book on Tax Strategies for the Savvy Real Estate Investor by Amanda Han and Matthew MacFarland
  • o Devoured this book in a few days and it really opened my eyes to how creative you can be with regards to taxes as a real estate investor. Helped my partners and I find a great real estate focused CPA to help our business. Highly recommend

Leadership:

• · Welcome to Management by Ryan Hawk
  • Excellent useful book on how to first time, and long time managers can be more effective and efficient in the workplace. Covers a variety of topics from interviewing to driving results, to general people management. Great read.
• · Radical Candor by Kim Scott
  • This is a GREAT read about the importance of giving and soliciting feedback as a manager. The main point is care personally about your people but challenge directly and in real time to build a culture of high performance, but also care for your team members. Highly, highly recommend for anyone in any sort of people management role.

General Business and Biography:

• · The 4 Disciplines of Execution by Sean Covery and Chris McChesney
  • o Wow, is this book great for leaders attempting to EXECUTE on priorities. This had a profound impact on the way I think about team goal setting, and execution. Focus (on the wildly important goals), Act On (The lead measures, things you can control), Keep a Compelling Scoreboard, and Create a Cadence of Accountability.
• · Chaos Monkey’s by Antonio Garcia Martinez
  • Super interesting inside look into how startups are founded, acquired and the path of a semi successful entrepreneur who ended up founding the real time ad sharing platform at Facebook. Very entertaining read
• · 21 Lessons for the 21st Century by Noah Yuval Harrari
  • Very interesting read into this historians take on what the rest of our century is going to look like. Dives into politics, technology (AI/ML etc) and is an entertaining and interesting read.
• · The Billion Dollar Whale by Bradley Hope and Tom Wright
  • This book does not relate heavily to what I do or what many others do for business by WOW this is one interesting read about a young entrepreneur from Malaysia who ends up becoming best friends with some of the most rich and powerful people in the world, only to end up stealing over 4 billion dollars worth of assets.
• · The Everything Store: Jeff Bezos and the Age of Amazon by Brad Stone
  • Very interesting read about how Amazon came to be and the insane obstacles that Amazon overcame to become the company it is today.
• · Losing My Virginity by Richard Branson
  • Wow, Richard Brandon has really lived an extraordinary life. This is his biography of his life so far, and I was extremely impressed by all of his life accomplishments. Fun and exciting read!

Sales:

• · The Greatest Salesman in the World by OG Mandino
  • This business parable is an EPIC in the Sales and Personal Development arena. Matthew McConaughey was inspired by this book to become an actor. Definitely highly recommend on how to become a better salesperson in general.
• · New Sales: Simplified by Mike Weinberg
  • Great Sales book which focuses on a modern yet classic approach to Sales. It address the modern realities of our new working world, but stays true to the classics of sales (you still need to cold call, build relationships etc). Great read!
• · Fanatical Prospecting by Jeb Blount
  • This book is also pretty darn great. It speaks of the importance of constantly keeping your pipeline full in sales, and strategies to setting meetings with clients. Highly recommend for anyone in Sales.

Personal Development/Mindset and Inspiration:

• · How to Win Friends and Influence People by Dale Carnegie
  • o If you haven’t read this book, please click out of this page and go read the book. One of the best books of all time on how to deal with people. This is a pre-requisite for any career in my opinion. Warren Buffett credited this book (along with it’s accompanying Public Speaking Class), with his ability to work with others.
• · The Go Giver by Bob Burg and John David Mann
  • One of my favorite books of all time. This business parable talks about the importance of giving and providing value in business. Super quick read, but had a profound impact on my view of business.
• · The Miracle Morning by Hal Elrod
  • This book ROCKS. It talks about the importance of conquering the morning with the most important personal development tasks which are essential to living the life you want to live. Highly recommend reading and implementing the ideas in this book.
• · Atomic Habits by James Clear
  • Great book on the importance and power of habits. It takes a deep dive into how and why habits are important and how to change them.
• · The One Thing by Gary Keller
  • o Really solid personal development book the focuses on the importance of being selective and focused on what you want to achieve. What is the ONE thing that such by doing it everything else is easier or unimportant? Focus on the wildly specific.
• · Your Best Year Ever by Michael Hyatt
  • o I really loved this book as well, it’s major focus was how to actually set goals where you can achieve them. So really a more modern goal setting book with updates for 2021/2022.
• · The Compound Effect by Darren Hardy
  • A real classic personal development book of the importance of planning, working hard and focusing on the small things. Would recommend, but I have seen many of the material elsewhere over the years.

Money/Finances:

• · I Will Teach You to Be Rich by Ramit Sethi
  • My single favorite book on personal finance. It’s almost like a Dave Ramsey common sense personal finance book, with a modern flare. Essentially, saving is crucial, track it, save furiously on things that are not important, and spend on the things you love.
• · Set For Life by Scott Trench
  • This book talks about the various strategies both within your job and outside of your job to work towards becoming financially independent. Awesome read.

@Lee Ripma - We used the actual cities for this data!

That's a great point on evaluating supply (of the target assets) in an area we are evaluating. Where did you happen to find the data on supply in various locations?

Listened to your podcast and read the articles today. Super helpful!

@Mike D'Arrigo

Appreciate your insight here! 

We've essentially nailed it down to Austin Texas/Killeen Area, Phoenix, Las Vegas, and Boise and are  now looking at other metrics, and really diving into analysis on specific properties (and contacting agents) in an attempt to find a deal. Will also definitely think about adding Indianapolis and KC to the mix. Seems like a lot of investors have had success in those areas!

Great point on operating expenses in various states and markets. That's definitely something to think about and consider when evaluating a market. Also, great point on the city wide crime rates. All cities have good and bad neighborhoods, so it seems very important to get down to the actual neighborhood level when doing research on crime rates.

Thanks Mike! 

@Victoria Knutson Glad to hear it was helpful!

No, but I think that would be a great market to add. We'll add that to the list.

Thanks!

@Brenda Akinyi 

Love to hear it, let me know if you have any questions on how we got this data or thought process behind this.

Thanks!

Hi @Chilly Nathan!

Probably late to the party here, but just came across this thread. 

I’m in a pretty similar boat to you, except looking to buy my partner and I’s first rental property out of state. We both live in San Francisco and just completed a quick market analysis of a lot of the markets I’ve seen recommended on BP and elsewhere across the web. 

We made this market analysis based on a lot of key factors like population growth, price to rent ratio, income growth etc.

Our next steps is making connections for a “Core 4” in multiple of these markets, analyzing properties, making offers and hopefully purchasing our first property in the next 1-2 months. 

Including the Google Sheet Link Here: https://docs.google.com/spread...

Hopefully this is helpful to you or others!

Thanks!

Hey @Lee Ripma!

Great question - after combing through this analysis we first sorted the data by Price to Rent Ratio (as a good measure for cash flow) but the top 3 markets based off Price to Rent Ratio, which were Cleveland, Memphis, and Indianapolis. We didn’t like those markets mostly due to the crime index being well over 500 in each location and relatively low appreciation over the last 20 years.

We came down to Killeen, Phoenix, and Boise as (for right now) our top 3 markets based on a variety of stats but mainly population growth, household income, and home value growth.

Our next step is now reaching out to agents in those locations and running analysis on a variety of multi family properties in those locations to try to find a good deal to start making offers.

Would love to hear your opinion if those are good logical next steps and any ideas/thought you may have here.

Our goal is to purchase our first rental property in this quarter (Q4 of 2021)!

Thanks!

Hello BP!

This is the 1st time I've made a post on BP. Hopefully first of many as I learn more about real estate investing and execute on the first deal!

My partner and I have been doing a ton of work (probably too much analysis) on determining which market we should invest in out of state. We both live in San Francisco, and as you know the market does not cash flow. Together we created a market analysis of different and popular markets across the U.S. to invest in.

Feel free to check out our analysis using the following link: https://docs.google.com/spread...

If anyone has any questions about how we created this, feel free to let me know!

Disclaimer: We are not professional data analyst and definitely not perfect, so there may be a few errors in this analysis. All info is public data online.

Hope this is useful for some.

Thanks!