Real estate investing can be a prudent way to save for retirement, or just to generate a little extra income on the side. However, real estate investments carry some risk, and there are many pitfalls that an unexperienced investor can fall prey to. If you are thinking about making your first real estate investment, then you should read at least one of the following books. With the knowledge contained in these books, you will be able to confidently and securely manage real estate deals of any size. Read on to see our top five picks.
1. The Wall Street Journal’s Complete Real-Estate Investing Guidebook
A bit older, but still full of prudent advice, this guidebook from the Wall Street Journal’s David Crook is a great place to start when you are thinking about diving into the world of real estate. This book has excellent advice for people who are looking to develop a vacation rental, rent out an apartment, or even those who want to find tax loopholes to maximize their ROI. Crook’s book also outlines tips for avoiding the “get rich quick” real estate schemes.
2. Real Estate Investing For Dummies
Let’s be honest. Most of us find the act of buying a “For Dummies” book a little bit embarrassing. It can be hard to admit that we are completely clueless about something that so many other people do effortlessly. But the “Dummies” series is a great resource for people who are looking to break into real estate without any prior experience whatsoever. Real Estate Investing For Dummies offers explanations of complex concepts in clear, simple English. If you are treating your properties as a long-term investment, the financial advice in this book will definitely be relevant to you. Other “Dummies” books that you might want to check out include Property Management Kit For Dummies, Commercial Real Estate Investing For Dummies, and Flipping Houses For Dummies.
3. Flip: An Unconventional Guide to Becoming a Real Estate Entrepreneur and Building Your Dream Lifestyle
Flip author Nick Ruiz talks about home flipping and real estate success in the video above.
Flip: An Unconventional Guide to Becoming a Real Estate Entrepreneur and Building Your Dream Lifestyle is an interesting read because it talks about the state of the real estate market both before and after the financial crisis of 2008. Author Nick Ruiz argues that people who are new to real estate investing should not think of themselves as investors, but as entrepreneurs. This book also focuses on low-cost and low-capital ways that you can make your first foray into real estate.
4. HOLD: How to Find, Buy, and Rent Houses for Wealth
In HOLD: How to Find, Buy, and Rent Houses for Wealth, a group of notable real estate experts have co-authored a guide to rental property success. If you want a book that offers multiple perspectives on the industry, this is the book to buy. The book will walk you through the basics of finding a great property, analyzing the terms of the sale, buying the property, managing the property, and growing your wealth. With clear, easy-to-follow steps, this book is a great template for investing success.
5. Retire Rich with Rentals: How to Enjoy Ongoing Cash Flow From Real Estate…So You Don’t Have to Work Forever
Planning to use your property investments to fund your retirement? Then Retire Rich with Rentals is the must-read book for figuring out the complexities of real estate. The passive income generated from property deals and rentals is a great way for seniors to fund their retirement coffers. Recognizing that property investments can be stressful, this guide highlights ways to cut the hassle and stress out of rentals, which will be ideal for retirees who don’t want their retirement to be as active as their working years.
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