For most of us, the hardest part of investing is getting started. I certainly know that was the case for me! It is difficult to take the plunge into buying your 1st investment property if you feel uncertain about the waters. I believe that the best way to build your confidence is to build your knowledge.
That is why I have created this list with the hope that it can help you get 'get inspired & get started' with your own investments!
#5- The ABC's of Real Estate Investing
by KEN MCELROY
This book falls under the 'Rich Dad Poor Dad' series and provides a wonderful overview to the most important elements of real estate investing. It is easy to read and provids practical tools for finding properties, calculating ROI, and determining cash flow. McElroy also describes methods for increasing income through proven property management tools. This book will make you feel like you have the knowledge to get the job done.
This book is great because it focuses on understanding the market for multi-family properties and teaches you how repositioning can maximize your return on investment. Lindahl (a successful investor himslef) shows you how to find distressed properties that are ripe for quick profits. Better yet, he explains how to fix or flip those properties and how to re-sell at maximum value.
#3- The Book on Investing in Real Estate with No (and Low) Money Down
by Brandon Turner
This book is simple, to the point, and full of practical information related to investing when you have little to no money. It was written by Brandon Turner, who is a Senior Editor at BiggerPockets.com and the co-host of BiggerPockets Podcast. (BTW BiggerPockets.com is an AMAZING resource for real estate investors.) This book inspired me because of Turner comes from humble real-estate-beginnings and is extremely relatable. The book is a toolbox that will make you think- I can do that too!
This book describes a method that is a lifelong approach to investing in real estate. The method involves being “out looking” at properties and buying only when a great deal comes along. Keller encourages reader to learn your market, look for properties that are selling at a 20% discount to fair market value, putting 20% down on the mortgage, and becoming a master of your niche. Beyond the practical advise, Keller profiles many real life investor success stories... and these stories are very encouraging!
There is a reason why you will see this book on almost everyone's favorite list. I'm happy to say that it is the 1st book I ever read on real estate investing. This book is one of my favorites because it made me question my notions on wealth and totally changed the way I defined assets. The ideas in this book are simple and when you read it you will think "I can't believe I didn't realize this before!" This book is a MUST READ for anyone wanting to create passive income.