Why even bother looking at yet another list fo best books on real estate investing, you might be asking? As a consequence of COVID-19, like most of the other crises, prices in real estate are likely to drop, even if only by a few percentage points. There will be fewer buyers willing to spend cash on new properties, and some sellers might need liquidity and will, therefore, sell their properties. Consequently, we are likely to have a high supply and low demand in real estate, which will push prices down. With all of that in mind, there might be some great opportunities to invest in real estate.
But how can we become property investors? How can we spot the best deals and the best ways to monetize properties?
We prepared a list of the best books on real estate investing so you can be ready to act when the time comes. We separated books into categories, each dealing with a different strategy of investing in real estate.
The Right Mindset to Get Started in Real Estate Investment
In this category, you will find books that will make you think like a professional real estate investor. The books below will demystify the investment landscape and make sure you’re aware of the basic principles to become successful.
Rich Dad, Poor Dad
by Robert T. Kiyosaki
A list of the best books on real estate investing would not be complete without this book. The book Rich Dad, Poor Dad is a best seller in investing and personal finance. One of the key lessons from the book is that we should have more assets and fewer liabilities.
As an example of an asset, it uses real estate investment which, if you do it right, generates consistent passive income. If you are introducing yourself to managing and investing your finances, this is a great book to start.
The Millionaire Real Estate Investor
by Gary Keller
Do you think you can only get rich if you have a considerable amount of money to invest in real estate? Are you struggling to believe in yourself? Do you need an initial push to invest in real estate?
If you answered yes to any of these questions, you should read this book which will help you with all these questions and teach you good principles you can apply in real estate investment.
Best Books on Property Flipping
Property flipping is a very popular way of making money with properties without holding them for the long-run. The books below will give you a great framework to evaluate, buy, rehab and sell residential properties and avoid typical mistakes that can be costly.
The Book on Flipping Houses
by J Scott
The Book on Flipping Houses: How to Buy, Rehab, and Resell Residential Properties is a no-fluff book with solid information about flipping houses. It covers the financial requirements, where and what to buy and how to find deals. Furthermore, it introduces a flip formula to ensure your investment is worth it, negotiating tips and due diligence.
If you are planning to buy a property and then sell it with profit in a short period instead of renting it, this book is a great investment.
The Book on Estimating Rehab Costs
by J Scott
A lot of your profit flipping a house comes down to how much you spend in its renovation. It’s a scary topic and costs can vary widely. If you choose the wrong contractor or buy very expensive materials, it will take a big toll on your profits. It’s therefore important to strike a good balance in property renovation to keep costs under control.
The Book on Estimating Rehab Costs gives you the framework and methodology you need to invest in real estate rehab. After reading this book, you will be able to evaluate renovation costs.
If you have no knowledge of construction and contracting costs, the book will explain how you can react to quotes and be comfortable in managing them. However, if you are knowledgeable, then the book will give you a consistent and efficient method to renovate properties with investment in mind.
Best Books on Rental Properties and Airbnb
Buying properties to rent out long term or short term is an excellent way to generate meaningful passive income. The focus here is to buy properties at a price that makes sense, when taking into consideration the rent you will receive from it.
The Book on Rental Property Investing
by Brandon Turner
The Book on Rental Property Investing covers in detail all the decisions you need to make before investing in a property. On the location topic, it lists twelve parameters you should evaluate before deciding to invest.
For rental property success, it lists five key points that you can use as a process to invest in a property. However, it doesn’t enforce that process as the only way to invest in rental properties.
It also covers other strategies such us building wealth though single-family properties and it encourages the reader to choose the strategy that works best. The writer’s passion is quite visible, so you are likely to be inspired after reading this book.
The Turnkey Revolution
by Christopher D. Clothier
The Turnkey Revolution is a how-to manual on buying turnkey rental properties. This eBook has practical explanations and examples, making it clearer to understand the concepts.
It covers the basics such as explaining what a turnkey rental property is and why you should invest. Furthermore, it covers more advanced topics like the steps to buying and guidance on decision making.
Best Books on REIT Funds
Owning a property requires significant capital, maintaining it and liquidity is sometimes hard to achieve. Real Estate Investment Trusts (REITs) are an alternative to investing in real estate without owning a property. REITs have lots of advantages, but it is a complex topic to master. The book below is a great choice to build a strong foundation in REITs.
The Intelligent REIT Investor
by Stephanie Krewson-Kelly and R. Brad Thomas
The Intelligent REIT Investor is an introductory book on REIT investment. The book starts with the basics, explaining what a REIT is and why you should invest in REITs. Furthermore, it goes into all the details of how to invest, how to analyze REIT performance, and describing the different types of REIT properties (health-care, office, residential, etc).
Learn more about REITs and other real estate investing strategies in our guide on real estate investing for beginners.
These are the best books on real estate investing in 2021 that you can read. There are different ways to do real estate investing, such as buy to let, buy to sell, or not owning properties but benefiting from their cash flow via REITs.
In our list, we covered the different possibilities and included books that give you the tools you need to be a successful investor.
These books enable investors to better understand real estate in order to make better investment decisions.
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There are a number of books we recommend depending on what you are looking for:
– Rich Dad, Poor Dad
– The Millionaire Real Estate Investor
– The Book on Flipping Houses: How to Buy, Rehab, and Resell Residential Properties
– The Book on Estimating Rehab Costs
– The Book on Rental Property Investing
– The Turnkey Revolution
– The Intelligent REIT Investor
In the article, we go into detail about each of the books and what they are relevant for.
In many areas, real estate prices have actually risen during the COVID-19 pandemic. This shows how resilient the market is, and should serve as an example that real estate investing is still a great way to invest.
Real Estate Investment Trusts (REITs) are an alternative to investing in real estate without owning a property. REITs have lots of advantages, but it is a complex topic to master. Reading a book about REITs might be a good way to get you up to speed.
– Long term investment
– Property flipping
– Rental properties and Airbnb
– REIT funds
In the article, we go into detail about each of the categories and what the best books are for each of them.
The best book for investors wanting to invest in REITs is The Intelligent REIT Investor, by Stephanie Krewson-Kelly.