Great Books For Multi-Family Investing

When I first got interested in buying multi-family investment properties, I got started with these books to learn the fundamentals. Just like other real-estate investments, there are a lot of ways a multi-family investment can go wrong. With these books, you can learn from the wisdom of experienced investors who have thrived in the multi-family investing space.

Whether this is your first investment, a house hack, or your 10th building, having the fundamentals down pat is incredibly powerful. Whether it’s some of the deal valuation fundamentals or how to screen and manage tenants on your own, these books cover tried and true tactics on building your portfolio.

How To Create Wealth Investing In Real Estate: How to Build Wealth with Multi-Family Real Estate 

Grant Cardone provides a straight forward and digestible book on multi-family investing with a personalized back-story and an honest admission that he invests all his money into multi-family properties.

He covers his mistakes right out the gate and how it transformed his approach to investing in multi-families. There is then a detailed review of varying real-estate assets followed by why he believes apartments are his ultimate type of asset for investing and how to invest in such assets.

As all the books in this post cover, there are a lot of things that can go wrong with your investment in an apartment, but Grant covers these issues in detail and helps set you up for understanding and succeeding in your first deal. Cash On Cash (COC) return is covered as the critical deal metric for investing.

The last chapter is a bit of a sales pitch with a chapter on Cardone Capital, which Grant runs, but is also a personalized review of what he does at the company by investing in multi-family assets.

The book is available on Amazon here.

Multi-Family Millions

Of the books reviewed here, your author loves this book most. I checked it out 4 times from the library over a year long period when I was first getting started learning about multi-family homes.

Multi-Family Millions is an extremely valuable resource written by investor David Lindahl. He focuses on how to drive profits by identifying fix-or flip properties and getting the best possible sales price by manipulating the fundamental multi-family valuation math in your favor.

The book has many creative approaches to get to your property investing goals. We learn from the experience of others on how multi-family deals go wrong and how to take advantage of another investors failure.

David covers why you’ll want to invest in apartments and the many different kinds of multi-family housing options. He covers the deal math in detail as well as laying out a 14 step guide to acquiring a property covering everything from choosing the right building size, negotiating your deal, and doing your due diligence.

There is in-depth coverage of raising your NOI to increase your profits followed by a chapter on how to attract deals. Avoiding “land-mine” deals and how to analyze properties using basic numbers for maximum profits are a large portion of the book. If you’re nervous about rehabbing sub-standard properties, David provides an easy 80/20 approach to identifying value and how to succeed with your flip. The last several chapters focus on reselling the property for enormous profits, avoiding pitfalls when you reposition your property, and creating the most optimal team to let you succeed in your investments.

The book is available on Amazon here.

The Book on Rental Property Investing

This is one of the multi-family investing books we recommend, mainly because it isn’t solely focused on multi-family assets. This is the definitive guide to rental property investing of all real-estate books that I’ve read.

While multi-family properties are touched on throughout the book, the main coverage of the asset type is in Chapter 7. The most useful thing in the book is its extensive coverage of screening tenants, finding deals, evaluating neighborhoods, negotiating your deal, and your due diligence and close process.

The book is available on Amazon here.

Summary

The books above are the best possible multi-family investing books on the market. There aren’t many out there that are focused on this specific topic, and there are some very dated books that we don’t cover here, but they all cover some critical material.

The commalities any real-estate investor needs to know about multi-family investing include:

  • Common mistakes in multi-family investing
  • Finding deals
  • The importance of deal math and multi-family evaluation for re-selling properties
  • Real estate negotiation
  • Financing options for your property
  • Due diligence & closing a deal
  • Managing your rentals
  • Exit strategies for your assets