5 Books To Help You Be a Pro Real Estate Investor
Real estate investment is more complex than you believe. If your investment strategy is sound, rewards are usually good. However, when you invest large amounts of money, the risk is high too. It is not possible to weed out risk altogether, but one way to lower risk is to learn as much as possible about the real estate market. Many well-known books will help you learn a lot about investing in real estate.
MakaanIQ lists a few good books that will help you become a pro real estate investor:
- How to Win Friends & Influence People by Dale Carnegie
This is not a book about real estate investment. This book teaches people management, an essential skill for being a successful real estate investor. The author is Dale Carnegie, a salesman who was instrumental in the success of his firm. When he was 20, Warren Buffet, one of the most successful investors in the world, took lessons from Dale Carnegie. In this book, Dale Carnegie urges you to change your attitude and behaviour. It is an important book, because it teaches you how to understand and handle people. People are everywhere, and managing them is an art. You will learn how to negotiate better, to explain your views more clearly, and to judge people more accurately. The best thing about this book is that the principles are noble, and not intended to fool people. Nevertheless, you can save yourself from much trouble by studying the principles in this book.
- Rich Dad Poor Dad by Robert Kiyosaki
Robert Kiyosaki's Rich Dad Poor Dad teaches you how to be financial independent. It teaches you how to invest, buy and sell real estate or start your own business. The book's underlying premise is that you should spend money on things that generates cash flows. Kiyosaki, however, has a different definition of assets and liabilities. A person's house is not an asset, but a liability. Kiyosaki thinks that anything that bring in more money is an asset, and something that does not produce more money is a liability. Thus, a house is a liability whereas rental properties that gives you positive cash flows is an asset. This is a very useful advice while raising funds to invest in real estate.
- The Millionaire Real Estate Agent by Garry Keller
Garry Keller is a well-known American author and real estate entrepreneur who founded an international real estate franchise, Keller Williams Realty. In this book, Keller shares economic, organisational and lead generation business models that form the foundation of any successful business. The book dismantles many myths related to real estate investment. The book uses a motivational tone in the first half. The second half has sample problems and worksheets that will help you to judge the potential of a house. The book also teaches the fundamentals of money and investing. We recommend this for investors who are keen on learning more. However, if you are an experienced real estate investor, this book is not for you.
- 100 Questions Every First-Time Home Buyer Should Ask by Ilyce R Glink
This book answers the questions that a first time homebuyer may have in his mind. Ilyce R Glink is one of the most respected names in the field of real estate. She is also an award-winning television personality. She narrates real life stories to guide people in the home buying process. This book answers most common question related to real estate and mortgage loans. The best thing about this book is that it is organised in a way that it allows you to what interests you and skip the rest.
- How I Turned $1,000 Into Five Million in Real Estate in My Spare Time by William Nickerson
William Nickerson teaches you a simple formula to become rich through investing in real estate in a span of 20 years. In the beginning of the book, Nickerson points out that the people who bought real estate in 1969 have accumulated great wealth over the course of time. The book focuses on a fundamental principle: It takes time for real estate prices to appreciate. The book was initially published in 1959 with the title “How I Turned $1,000 into a Million in Real Estate – in My Spare Time”. After 10 years, another edition of the book came out, in which one million rose to three million. By twenty years, it had become five million. The author lives according to his own principles.