Criteria informing our selection process<\/h2>\n
We took a multi-pronged approach to determine the best books on real estate investing. Our thorough and impartial examination considered several criteria:<\/p>\n
Sound Advice: <\/b>We looked for books that don\u2019t waste your money \u2013 on them or investment properties. The books on our list provide reliable financial guidance, as confirmed by Wheeler and top real estate book critics.<\/p>\n
Author expertise: <\/b>We searched for authors with substantial investing experience who boast solid credentials in terms of longevity, position, and success in the industry. All books selected are written by authors who are principals of reputable companies and have expansive investment portfolios.<\/p>\n
Average reader reviews: <\/b>It\u2019s pretty much impossible to please everyone, but trends don\u2019t usually lie, so all of our selected books have an average rating close to five-stars. Beyond taking the average rating into account, we read pages of reader reviews to understand the details behind the ratings. We read the best reviews, the worst reviews, and those in between to understand what people liked and disliked about each book.<\/p>\n
Relevance:<\/b> Investment strategies change with the times. We selected current books that reflect the real estate investment environment today or provide tried-and-true evergreen advice.<\/p>\n Page count:<\/b> 360 This book is packed with expert insight ensconced in homespun personal stories. Using real examples, Turner shares his experiences and knowledge, as well as those of other investors in the BiggerPockets<\/a> community. You\u2019ll feel like you\u2019ve got a personal life coach, helping you understand the what-to-dos and what-not-to-dos.<\/p>\n Here\u2019s why we consider this book essential for those new to real estate investing:<\/p>\n You\u2019ll learn the basics of real estate investing, including:<\/p>\n Reviewers liked that this book covers the entire process of breaking into real estate investment from start to finish in a very simplistic format. Further, Turner doesn\u2019t push just one approach to property investment. He spells out options and diverse strategies and even discusses regional and geographical differences to allow the reader to choose what works best for their circumstances.<\/p>\n Critical readers lamented the lack of statistics and scientific data. Everything is anecdotal. A common critique focused on the tedious aspect of the book due to repetition, including repeated self-promotion.<\/p>\n Chapter 3: Four Sample Plans<\/b> Chapter 5:<\/b> Analyzing a Rental Property<\/b> When deciding whether a property is a good buy or a goodbye, you\u2019ll also have to consider your cash flow and the potential for appreciation. There\u2019s a lot of math involved, and some of the calculations may not be on your radar, so this chapter is a great resource.<\/p>\n Chapter 10: Which Properties Make the Best Rentals?<\/b> This chapter gives additional tips, including:<\/p>\n It also suggests some critical fixes to interest buyers, such as:<\/p>\n Price: <\/b>$20.99 on Amazon<\/a> You know the adage: If it walks like a duck and talks like a duck \u2014 it\u2019s a duck. According to Gary Keller<\/a>, founder of Keller Williams Realty International, one of the world\u2019s largest real estate franchises by sales volume, you have to think like a millionaire investor to become a millionaire investor. And he\u2019s going to show you how to do that through interviews with more than 100 millionaire real estate investors.<\/p>\n Here\u2019s what we also love about this book on real estate investing:<\/p>\n Keller dispels many myths<\/a> about real estate investment that might inhibit potential investors from getting started. He then provides a roadmap for identifying investment opportunities and vetting them, generating leads, developing a team, building a network, working the best deal, and understanding your finances.<\/p>\n This book also covers the following principles of wealth management:<\/p>\n Readers shared that this book takes a deep dive into multiple approaches to real estate investment, starting with the fundamentals of finances and an examination of some common scenarios. As Wheeler says, \u201ceveryone does it differently\u201d \u2014 that can be overwhelming.<\/p>\n Readers appreciated the mathematical modeling of various examples as a way of proving the advantages of diverse strategies. They also valued the insights, experiences, and checklists all presented in a well-written compilation.<\/p>\n In one word: fluff. Beyond that, many felt that the book was more motivational than instructional \u2013 yet another pep talk with too many empty platitudes but not enough specified strategy or details on the \u201charsh realities of real estate investing.\u201d<\/p>\n Part One, The Five MythUnderstandings About the Way You Look at Investing<\/b> Keller shows you how to overcome your fears and excuses to get started and stay in the game. He breaks down the complications and risks of investment and shows you how to find investment opportunities.<\/p>\n Part Two, Own a Million<\/b> Price:<\/b> $16.95 on Amazon Part of the Rich Dad Advisors series<\/a>, The ABCs of Real Estate Investing<\/i> focuses on larger scale investing into commercial properties, such as apartment complexes and multi-family homes. Written by Ken McElroy, principal and co-partner of MC Companies<\/a>, a full-service real estate investment and property management group, the book provides a straightforward guide to locating and estimating the value of multi-family properties<\/a>.<\/p>\n This book focuses on wealth management and teaches you how to increase cash flow through:<\/p>\n McElroy shares his knowledge of:<\/p>\n You\u2019ll also learn how to:<\/p>\n Readers appreciated the to-do list and simple step-by-step directions summarized at the end of each chapter for a quick review. They also enjoyed the formulas to determine property value, cap rate, and other equations. Many readers felt that the book offered tangible advice.<\/p>\n In many regards, readers who left negative reviews found the book too basic and lacking in specifics.<\/p>\n Chapter 7: Is It Really a Diamond?<\/b> The chapter also covers:<\/p>\n Top agent Wheeler says that this chapter is an essential read since it helps new investors focus on the numbers rather than the emotions when purchasing their first properties. He underscores the value of cash flow: \u201cDon\u2019t spend more than you can bring in.\u201d<\/p>\n Chapter 12: To Sell or Not to Sell?<\/b> McElroy sums it up when he says if you don\u2019t have a plan for capital gains, don\u2019t sell. Even if you have a plan for the profits, you still need to decide when to sell. Some of the factors influencing that decision include fixed and variable expenses and the market rate for rent.<\/p>\n Price:<\/b> $15.87 on Amazon<\/a> This revised edition of the 2013 bestseller<\/a> provides a roadmap for experienced flippers and newbies alike. A primer on flipping houses, this new edition offers fresh information about the process during any market, how to find a property<\/a>, current costs of rehabbing a property, creative options on financing, and large renovation projects.<\/p>\n Here\u2019s why we rank this bestseller as one of the top books on real estate investing:<\/p>\n You\u2019ll learn how to flip a house from A to Z \u2013 or, really, from F to F to F: find, fix, flip. Beyond covering the fundamentals, Scott:<\/p>\n![\"An](\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2021\/01\/books-on-real-estate-investing-apartments-666x381.png\")
<\/a>1. The Book on Rental Property Investing: How to Create Wealth with Intelligent Buy and Hold Real Estate Investing by Brandon Turner<\/h2>\n
\nYear published<\/b>: 2015
\nPrice:<\/b> $13.99 on Amazon<\/a>
\nAmazon rating:<\/b> 4.7 stars \/ 2,847 ratings
\nGoodreads rating:<\/b> 4.42 stars \/ 3,133 ratings<\/p>\nWhy we recommend it:<\/h3>\n
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\nThis chapter outlines a simplified year-by-year breakdown of how to start with $20,000 and turn that into a million dollars in seven to eight years by leveraging equity and cash flow to trade up.<\/p>\n
\nBeyond the purchase price, you\u2019ll have to calculate numerous other expenses<\/a> such as closing costs<\/a>, cost of repairs, monthly mortgage payments and utility bills, HOA fees, property management fees, and the average vacancy rate<\/a>.<\/p>\n
\nWhile Chapter 5 examines the numbers, Chapter 10 takes a broader look at whether or not a particular property will pay off as an investment. For example, like Goldilocks, you don\u2019t want too few bedrooms or too many: It has to be just right. Translation: A home with too many bedrooms will likely rent to a family with several children, who are more likely to damage the property.<\/p>\n\n
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<\/a>2. The Millionaire Real Estate Investor by Gary Keller<\/h2>\n
\nPage count:<\/b> 368
\nYear published:<\/b> 2005
\nAmazon rating: <\/b>4.7 stars \/ 1,139 ratings
\nGoodreads rating: <\/b>4.27 stars \/ 3,064 ratings<\/p>\nWhy we recommend it:<\/h3>\n
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\nThink of this chapter as a pep talk from the SNL character Stuart Smalley<\/a>: You are smart enough, and you are good enough to become an investor in the real estate market. Top agent Wheeler confirms the author\u2019s sentiment, sharing that it\u2019s essential to get over your fear of investment because until you buy a property, \u201cnothing happens.\u201d<\/p>\n
\nThe average real estate investment book explains different types of financing<\/a> and how to get them, but Keller goes further by listing 17 money issues and how to stay on top of them. This chapter also examines the perils and the promises of buying and selling investment property<\/a>.<\/p>\n![\"A](\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2021\/01\/books-on-real-estate-investing-pink-666x381.png\")
<\/a>3. ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss by Ken McElroy<\/h2>\n
\n<\/a>Page count:<\/b> 220
\nYear published: <\/b>2012
\nAmazon rating:<\/b> 4.6 stars \/ 1,164 ratings
\nGoodreads rating: <\/b>4.08 stars \/ 5,111 ratings<\/p>\nWhy we recommend it:<\/h3>\n
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\nAs McElroy writes, “in good deals the numbers work. In bad deals, they don’t.\u201d If you need help determining whether or not the deals work for you, this is your chapter. McElroy teaches investing principles on asking price and property value, which, on a multi-unit property, includes operating income, expenses, cash flow, capitalization rate, and valuation.<\/p>\n\n
\nThat is the question. It\u2019s not Shakespeare \u2014 it\u2019s dollars and sense. But you still need to plan an exit strategy<\/a>, which is farther down the line than most investors look when buying investment properties.<\/p>\n![\"A](\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2021\/01\/books-on-real-estate-investing-renovate-666x381.png\")
<\/a>4. The Book on Flipping Houses: How to Buy, Rehab, and Resell Residential Properties by J. Scott<\/h2>\n
\nPage count: <\/b>320
\nYear published: <\/b>2019 (Originally published in 2013)
\nAmazon rating:<\/b> 4.7 stars \/ 772 ratings
\nGoodreads rating:<\/b> 4.36 stars\u00a0 \/ 541 ratings<\/p>\nWhy we recommend it:<\/h3>\n
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