Getting started in real estate investing or want to know more? The 10 books covered in the below are the most comprehensive and approachable books on the market for new investors. Dive into the reviews with us to make your next literary acquisition.
The Book on Rental Property Investing
The Book on Rental Property Investing is one of the most approachable and comprehensive of all the books we recommend real estate investors, from beginners to experts, pick up. The book is an extensive overview of all the material that you as an individual investor will need to understand to get yourself started. The subtitle, How to Create Wealth and Passive Income Through Intelligent Buy & Hold Real Estate Investing!, provides a bit more detail about the strategies that are covered in this book as well as some strategies which are not necessarily included in this book, such as a focus on flipping houses for resale value and appreciation increases.
The book covers the essential real estate math behind how to analyze deals as well as quick rules of thumb that can help anyone get started analyzing properties and “building the muscle” to start analyzing multiple deals a day or a week as Brandon Turner, the author, suggests.
How to managing properties is a large topic in the book covering the differences between self v. property management approaches to your properties. It also covers strategies for prepping a property to rent, ways to find tenants, tenant screening, showing the property, and the full application process for potential tenants. There is also detailed advice on how to handle repairs and maintenance to avoid the worst mistakes landlords can, and have, made in the past.
The Millionaire Real Estate Investor
The Millionaire Real Estate Investor, as the name suggests, puts readers on a journey towards becoming what most of us likely want to become, millionaires. The book is packed with knowledge from tens of experienced real estate investors all of which became millionaires through real estate.
The book starts with several models and goals that can help a beginner get setup for success when investing. It helps the reader focus on core strategies on what to buy, how to buy it, and who helps you on that journey so that you have all the pieces together as you progress through the book. There is significant coverage of myths about the real estate industry that need to be dispelled that can offset the beginner investor.
The second part of the book focuses on four stages of developing a portfolio to turn you into a millionaire through an examination of multiple models that can move you in the right direction including the net worth model, the financial model, the network model, and the lead generation model, as well as a few others. There is an extensive coverage of real estate terms and vocabulary to learn in this section all of which are critical to investing.
The last section of the book focuses on “Staying on Top” of the fortune that you ideally will have built up by following the tips in the prior sections. These strategies include ensuring you’re ever focused on your business and objectives and behaviors to help you stay focused as well as why it’s important to protect and fund your future.
Retire Early with Real Estate
Retiring early is a goal many of us have, though there are many strategies to get there, Chad Carson’s Retire Early with Real Estate is probably the best book on the subject as it pertains to a real estate is driven investment approach. Across a sprawling 26 chapters, Carson reiterates many of the investment approaches and advice that we see in other books on this list however given the focus on early retirement, he has an obvious agenda in mind.
There is an extensive introduction and coverage of why exactly one would want to focus on real estate specifically covering the I.D.E.A.L. acronym in depth along with dedicating the entire second chapter to why retirees should be invested in real estate. Of course when thinking of retirement, he covers the methodology of determining exactly how much wealth you’ll need to retire early as well as how to manage your path to retirement through optimizing your savings rate.
He covers various approaches you can take with real-estate to build wealth such as house hacking (see the below for a definitive guide to this approach), live-in-then-rent, the live-in-flip, and the BRRRR Plan (covered extensively in Buy, Rehab, Rent, Refinance, Repeat). He covers the math of how debt is paid down through rental income and how to approach buy and hold strategies to growing wealth as well. Given all these strategies, he even sums up how to approach choosing the right one for you in a further chapter.
The ending chapters help solidify the learnings of earlier chapters and cement how to build back up plans in case, as all plans may, things go awry with your real estate retirement endeavors. We recommend this book as it breaks down each step succinctly that you’ll need to take on your journey towards financial freedom and early retirement as well as providing encouragement that this is all realistic and feasible along the way.
The House Hacking Strategy
House hacking is an age-old strategy of growing a real estate portfolio by living in multi-occupancy properties to reduce or eliminate your living expenses while building equity. Craig Curlops’ The House Hacking Strategy: How to Use Your Home to Achieve Financial Freedom covers all aspects and approaches to house hacking that are practical and accessible to nearly property owners. Those who are looking to quickly expand their equity footprint in an investment property and potentially reduce their living expenses need to read this book. The book is also a compelling tale of how the author himself has built considerable wealth in an extremely short period of time using the approaches detailed in the book.
Covers what is and is not house hacking as well as drawbacks that you can experience as a house hacker and landlord. It also dispels some myths between renting, home buying, and house hacking itself.
Provides a guide on where to house hack including property types and neighborhood choice. Similar to The Book on Rental Property Investing, and a common theme across BiggerPockets Publishing books, it covers how to assemble a great team to help you get through the property acquisition process smoothly and with the right support.
There is also extensive details about how to use low money down loans such as FHA, VA, and USDA loans to build the largest amount of net worth gains possible through house hacking, though it is admitted early on that this type of financing may not work in all markets. Finding and analyzing deals are covered in two separate chapters along with how to make attractive offers on your properties.
Given some of the approaches recommended in the book, there is specific detail provided about how to screen tenants for such situations as the “Rent by Room” strategy of renting out individual rooms to tenants instead of an entire unit, which differs significantly from the tenant acquisition approaches mentioned in any other book on this list. Due dilligence, property management (and roommate/tenant/guest management) are also covered in great detail in the later chapters of the book.
Buy, Rehab, Rent, Refinance, Repeat
Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple is the definitive book on the BRRRR strategy of investing which covers the topic in detail in an approachable way to new investors. Don’t really understand what refinancing or rehabbing a property is all about? David Greene lays out simple steps to move forward with the process to help you achieve financial freedom.
The book starts with a robust introduction to all the components of the BRRRR strategy as well as why it is a fantastic strategy for increasing your ROI overtime to get the most value out of your capital. The book then dives into how to find, identify, and purchase under valued properties ripe for the BRRRR strategy.
Rehabbing is something that scares most people away from the BRRRR approach to building wealth, but Greene’s approach to identifying talented handymen and contractors helps put the the process in a transparent and approachable light that gives the reader confidence that it is possible to achieve a great rehab. He then goes on to discuss how to add even more value to your property through some rehab strategies.
Then he moves on to covering the Rent, Refinancing, and Repeat portion of the approach in the later chapters of the book, which are all straight forward. Lastly, he covers some of the ways people have successfully scaled the approach to build real estate systems that can support many real estate deals overtime to help compound portfolio growth and how you can expect the strategy to increase your results as an investor.
How to Invest in Real Estate
This boldly titled book is actually written by an author whose book we covered earlier, Brandon Turner, and Joshua Dorkin has extremely practical tips on how to get your real estate investment portfolio started and how to let it thrive. We think this is a classic book on real estate investing for beginners and we’re not alone: ”How to Invest in Real Estate will catapult you 5-10 years ahead of where you are now. The content-rich chapters and corresponding stories of real estate investors give you guidance from the top real estate pros.” – Ryan Harris, Real Estate Investor.
The book covers all the cornerstone material those interested in real estate need to understand how to get started and bumps in the road that they should be aware of that come up for every real estate investor. The book also covers how to get started building your portfolio while you’re still working full-time (which almost all beginners will be) along with some tips on how to earn more at work so you can reinvest those gains into your real-estate hustle. It also deals with the delicate matter of how to get your partner or spouse onboard supporting you on your journey.
On the more technical side, it covers why or why not to use an LLC or corporation to do your investing. It also covers the many property types that are available to you in the market and multiple strategies you can use to start building wealth through real estate. There are chapters covering the practical knowledge of how to find real estate deals and some details on how to work in partnerships and other creative means of funding your properties (such as the BRRRR method covered in the above book).
The ABCs of Real Estate Investing
Ken McElroy’s book, The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss, is an instantly absorbable book that helps reveal some of the deep knowledge that long time investors have.
While much of the content is duplicative of some of the other books we’ve covered on the basics of real estate investing such as building wealth through real estate and how cash flow works to build wealth, there are many nuanced approaches in the book that are beneficial for first time and intermediate investors to take note of.
The first real striking recommendation in the book is its coverage of how to find the right property with the potential to turn a significant profit. It then dives into some of the myths that first-time investors find themselves believing that hold them back from success in the market.
Then there is, of course, it’s coverage of how to negotiate a deal based on concrete numbers to get the best possible outcome for yourself. If you’re not comfortable low-balling offers, you’ll quickly become familiar with the mathematic approaches outlined on how to get there. Additionally, there is coverage of how to evaluate a property and its purchase price as a part of your deal and once you own the property, how to increase your rental incomes through property management strategies and interventions to yield the most profit.
Long-Distance Real Estate Investing
Long distance real estate investing is not for the faint of heart, but in Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties, David Greene (same author as B.R.R.R.R. covered above) nails down practical strategies on decreasing your risk while increasing profits by owning long-distance real estate. Those new investors in high price and competitive cities and markets will know all too well how hard it is to make the numbers work for them in their current location but with the strategies laid out by David, you’ll be able to build wealth through investments currently out of your grasp.
There are detailed approaches to growing your real estate business in almost any location as well as how to build strong on-the-ground relationships with your real estate team that can support your deal making and property management along the way. He also has approaches to reading-the-wind on how market conditions may change in various locations and how to use technology to stay on top of your remote investment markets.
Most importantly he covers how to know where to buy and where to avoid investing and tips on how to build out your team by hiring for the best work. He also provides detailed approaches on how to even choose the specific materials you’re going to rehab your properties with.
What Every Real Estate Investor Needs to Know About Cash Flow
When you talk about real estate investing, you can’t avoid a conversation about the two most important words out there, cash flow. Cash flow will make or break deals and investments. What Every Real Estate Investor Needs to Know About Cash Flow—And 36 Other Key Financial Measures covers the critical financial jargon you’ll need to know to start evaluating deals and understanding how important cash flow actually is from a mathematical perspective.
Cash flow can impact your returns drastically, so understanding terms such as return on equity (ROE), capitalization rate, and net operating income (NOI) are all important terms for you to learn and understand. Additionally, the book covers terms and formulas such as internal rate of return; profitability index; net present value; discounted cash flow; cash-on-cash return; and others.
The book is especially pertinent to help you stop speculating about real estate investments and how to actually find ones that work. This is one of the best real estate investing books out there because it helps you separate emotional and subjective considerations about a property from the hard math that makes deals work.
Multi-family Millions is exactly what you think it is: a path to real estate investing success with multifamily properties. The book centers around finding distressed or undervalued properties and how to quickly turn a profit from them by fixing or flipping those properties and how to sell them at maximum profits. It covers multi-family investing math as well as the step by step processes you can take to manage each stage of your deal process and your ultimate sale or long term rental of the property.
The author breaks down why it’s a good idea to invest in apartments v. other types of real estate vehicles and how to get started with your first deal. He walks you through the math that can be manipulated by property owners to get the highest return possible out of a property and how to avoid properties that could be potential land-mines. There is also coverage of how to rehab, how to avoid being a landlord using property managers, and how to resell your property for massive profits.