5 BEST REAL ESTATE INVESTING BOOKS FOR BEGINNERS
You’ve heard it again and again: real estate is a great investment. It’s true! But, while real estate investment can be a big money maker and is often less volatile than the stock market, it also requires a foundation of knowledge to get started.
So, where to begin? Beginner real estate investors should gain knowledge in topics like financing, deals, rehab and construction estimates, property management, and legal concerns like contracts.
1| “What Every Real Estate Investor Needs to Know About Cash Flow” by Frank Gallinelli
Founder of RealData and a professor at Columbia University since 2003, Frank Gallinelli is known for his knack for turning complex real estate topics into interesting, easy-to-understand lessons for beginners.
This book will teach you how to “crunch numbers like a pro” so that you can estimate a property’s value and ensure it provides long-term ROI. You’ll learn how to measure things like discounted cash flow, net present value, capitalization rate, return on equity, and more.
2| “The ABCs of Real Estate Investing” by Ken McElroy
This beginner’s guide has a serious cult following on Amazon, and for good reason. As reviews say, “This book has more information for first time investors than any book I’ve read. Chapter 7 of this book is my Bible for crunching numbers on a property I am going to invest in.” Topics include:
- Achieving wealth and cash flow through real estate
- Finding property with real potential
- Negotiating deals based on the numbers
- Evaluating property and purchase price
- Increasing your income through proven property management tools
3| “How to Invest in Real Estate” by Joshua Dorkin and Brandon Turner
Josh Dorkin and Brandon Turner are longtime hosts of the popular real estate podcast, The BiggerPockets Podcast. They teamed up to write this book, which presents different niches and strategies for real estate investing and helps you pick the right one. You’ll learn about investing in real estate while still holding a full-time job, eight unique property types to invest in today, and creative ways to fund your deals.
4| “The Millionaire Real Estate Investor” by Gary Keller
Another highly popular classic in the real estate investing world, this book has distilled “the collected wisdom and experience of over 100 millionaire investors” into one no-nonsense resource. Topics include myths about investing, how to develop criteria for identifying great investment opportunities, and how to lead generate for properties and acquire them like a millionaire investor.
5| “Building Wealth One House at a Time” by John W. Schaub
The promise of this book is that you’ll make your first million and earn a steady income. Author John Schaub backs up that promise by covering topics like financing real estate purchases without going to a bank, avoiding common and costly mistakes, improving negotiation skills in any situation, and more.
As one review says, “Have read about 2 dozen books on real estate investing, but this one is probably my favorite. Simple. Easy to read and understand. And this was a re-write, which is important when you are considering investing in real estate—because circumstances do change over time.”
Bonus! Have more questions about real estate investment or want to talk to an expert about acquiring properties in and around Madison, Wisconsin? Our team is ready to help! Give us a call at (608) 957-2683 today!