Getting into the real estate investment industry as a beginner and becoming successful is difficult, but understanding what to focus on can be the difference between purchasing a headache and making a savvy investment in the real estate game.
One of the most effective ways to develop the skills for creative real estate investing is to read books about the experiences of those already in the industry. Before you make the jump and try your hand at becoming a successful real estate investor, you need to become familiar with the wisdom of experienced professionals to help you quickly understand the various aspects of the industry.
For this reason, we highlight 15 of the best real estate investment books to read to understand what approaches are most effective when it comes to building wealth, commercial real estate investing, and more.
1. Emotional Intelligence
Emotional Intelligence: Why It Can Matter More Than IQ is a great real estate book for beginners in the real estate investment industry.
Investing in real estate is usually one of the most significant decisions anyone can make in their professional or personal life. It is also one of the most capital-intensive investments. These variables can lead to irrational behavior. Emotional Intelligence provides practical tidbits that newbie investors in the real estate world should be aware of.
2. Think And Grow Rich
This property investment book by Napoleon Hill is deemed a must-read for anyone looking to start their real estate investment journey. It is possible to be successful by only building your real estate knowledge without investing in your mind, but you might end up losing a lot.
As your net worth increases through real estate investments or other means, your thinking is the true control center for what you should be able to do in the long run.
3. The E Myth
The E Myth: Why Most Businesses Don’t Work and What to Do About It is a book that provides crucial information about real estate investing. It simplifies various beliefs and myths into an easily digestible format.
Most people do not understand that getting into real estate investing is simply starting a business and that there are several things, business-wise, that have nothing to do with real estate. The E Myth: Why Most Businesses Don’t Work and What to Do About It, written by Michael Gerber, is a great book to help prospective investors understand the difference between running a business and having a job.
4. The Power Of Moments
The Power of Moments: Why Certain Experiences Have Extraordinary Impact, written by Dan Heath and Chip Heath, is a book that highlights how business owners can create significant value through unique moments and brand-building through small but memorable actions.
The Power of Moments is a useful real estate investing book for beginners as it helps them stand out in an especially saturated industry.
5. How To Win Friends And Influence People
How to Win Friends & Influence People by Dale Carnegie focuses on viewing businesses as relationships.
Real estate, in particular, is a business that only operates on the foundation of relationships, where a new real estate investor needs to have the confidence to step out there every day.
An effective investor is one that not only has all the required technical knowledge but one that can communicate their ideas.
6. Mastering The Market Cycle
Mastering the Market Cycle: Getting the Odds on Your Side, written by Howard Marks, is highly recommended for those who want to gain a deeper understanding of the risks associated with investing and how the real estate market works.
While this book is mainly concerned with Wall Street and the stock exchange, the goal is to help you understand and evaluate risks, something you need to understand when looking for an investment property or flipping houses.
As an investor, you should understand how to implement strategies to mitigate your risks.
7. The Entrepreneur Mind
Those starting on their real estate investing journey should read all the blogs, articles, and books they can find about the subject. But most do not realize that real estate investing and the processes involved are all about starting and building a business. Kevin D. Johnson’s book, The Entrepreneur Mind: 100 Essential Beliefs, Characteristics, and Habits of Elite Entrepreneurs can be a great read for prospective real estate investors to foster a successful entrepreneurial mindset.
8. Who Moved My Cheese?
Who Moved My Cheese? An A-Mazing Way to Deal with Change in Your Work and in Your Life is by Spencer Johnson. It is a book about a mouse stuck in a maze. While this might seem abstract, it provides information on how important openness and adaptability to change are essential in life and business.
It is important to note that change can be stressful, and the real estate investing industry is not an exception. The book aims to provide a new perspective, preparing the reader for the surprises that life throws at us.
It is an informative but lighthearted way to understand the intricacies of real estate investment before starting.
9. Rich Dad Poor Dad
Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not is a great beginner’s book written by Robert T. Kiyosaki.
This book provides a broad but particular range of knowledge about comprehending the fundamentals of investing and personal finance. The book provides information on financial literacy, which is something most people fail at. It aims to give readers a better understanding of investing and finance, which they can leverage before getting into the real estate investment industry.
10. Keepers Of The Castle
This real estate book, Keepers of the Castle: Real Estate Executives on Leadership and Management, is written by William J. Ferguson and differs from other similar books because it doesn’t put numbers or calculations at the forefront.
Instead, it focuses on real estate executives, getting their thoughts on management and leadership. Keepers of The Castle is a great book for those who want to hone their soft skills in the real estate investment industry.
Readers get information on the big movers in the industry, as well as their thoughts on what can be described as a rapidly changing business landscape.
11. The Book On Estimating Rehab Costs
The Book On Estimating Rehab Costs: The Investor’s Guide to Defining Your Renovation Plan, Building Your Budget, and Knowing Exactly How Much It All Costs is arguably one of the best real estate investment books ever written. Written by J Scott, the book goes a bit further than other real estate investing books to break down the true cost of real estate investing.
The fact is no two properties are the same, some can come with surprises, which is why it is important to have a more comprehensive understanding of the costs associated with investing in real estate.
12. How A Second Home Can Be Your Best Investment
The book, How a Second Home Can Be Your Best Investment: New, Tax-Free Methods for Using a Vacation Home for Recreation, Retirement…AND Investment iswritten by John Tuccillo and Tom Kelly. In a nutshell, this is a must-read for anyone getting into the real estate investment business who needs help coming up with a tax strategy.
It is a source of critical and useful information, which is not surprising considering the authors have first-hand experience themselves. John Tuccillo is a former chief economist of the National Association of Realtors, and Tom Kelly is a former Seattle Times real estate editor and syndicated real estate columnist.
How A Second Home Can Be Your Best Investment isn’t filled with real estate jargon. It is written in plain language so that just about anyone can read and easily understand how the real estate game truly works, starting with buying a second home.
13. One Rental At A Time
One Rental At A Time: The Journey to Financial Independence through Real Estate is written by Michael Zuber and is a great read for those searching for information on how to start creating a real estate investment portfolio or buying their first rental property with the goal of financial freedom.
The book parallels real estate investing with the Chinese proverb “the best time to plant a tree was 20 years ago. The second best is now.”
14. The Millionaire Real Estate Investor
The Millionaire Real Estate Investor is another useful book in which Gary Keller interviews more than 100 millionaire real estate investors to find out their experiences.
This book provides useful knowledge from former successful investors, highlighting key strategies that are essential to any real estate property investment beginner’s success.
15. The Book On Investing In Real Estate
Most beginners believe that they need quite a lot of private capital to start real estate investing. The Book on Investing in Real Estate with No (and Low) Money Down: Real-Life Strategies for Investing in Real Estate Using Other People’s Money, written by Brandon Turner, teaches readers how to get a start in the real estate investing industry with little money. Brandon Turner’s book has strategies that have real-life experience and implementation, making it one of the best real estate investment books suitable for beginners.