The following resources are invaluable in explaining the concept of wealth accumulation through real estate investment. Most of them I have already read, and the remaining few are on my reading list. Enjoy!
- Building Wealth One House at a Time: Updated and Expanded, Second Edition
- Building Wealth One House at a Time is an exceptionally time-honored strategy written by John Schaub who has successfully invested in real estate for 35 years spanning over three recessions as interest rates swung between 6%-16%.
- His strategy is to buy a property and rent it, manage it, then and only then, buy another. If people buy just one single-family home every year for the next ten years using the 10/10/10 rule (whereby the down payment is less than 10%, the value of the house is discounted at least 10%, and the interest rate is less than 10%), they will have more than enough money to enjoy and donate to charity. Emphasis is placed on finding people who need to get rid of their homes quickly, and then helping them while helping yourself.
- I especially enjoy reading this book because it helps readers know when enough is enough. People need to balance the work and the freedom that comes with real estate investment.
- The Book on Rental Property Investing: How to Create Wealth With Intelligent Buy and Hold Real Estate Investing
- The Book on Rental Property Investing by Brandon Turner is a great book to introduce the concept of, the rationale for, and keys to successful real estate investment. It also presents several successful plans for acquiring and managing properties. It covers how to make $1 million in net worth with fixer-upper properties, building wealth through single-family homes, house hacking, and his BRRRR strategy.
- This book is great for all levels of investors as it lays out the concepts broadly enough for investors to expand upon. It is also written in an encouraging and accessible way so that everyone would be able to begin in real estate investment, even without any capital.
- Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple
- The BRRRR method includes buying all in cash a distressed property at 25-30% discount, rehabbing it, renting it out, refinancing it, and then repeating. Refinancing is recommended to take out equity to invest in the next property. I have written about it here. This seems like a wonderful strategy, especially if you find reliable property managers, realtors, and contractors.
- David Greene has also written a book on how this method can be done successfully for properties that are far away in Long-Distance Real Estate Investing.
- The Book on Managing Rental Properties: A Proven System for Finding, Screening, and Managing Tenants with Fewer Headaches and Maximum Profits
- The book reveals that the key is creating and implementing an effective system for each step of the process: finding, screening, and managing tenants. Throughout the book, he has great suggestions that landlords can implement to maximize profit and avoid headaches. He has further ideas on how to deal with problems and problem tenants.
- Helpful tables, charts, and forms in the book make the physical book a better purchase compared to the Kindle version.
- The House Hacking Strategy: How to Use Your Home to Achieve Financial Freedom
- This book reveals the secret of how to buy properties that pay for you to live there. Basically you live in part of the house while you rent out other part(s) so that the rent covers your whole mortgage.
- Clever book that’s full of ideas!
- Creating Wealth: Retire in Ten Years Using Allen’s Seven Principles
- Author of all-time best-selling real estate investing book Nothing Down for the 90‘s and 2000’s, Robert Allen continues his 40-year mission to help people build wealth through real estate in Creating Wealth. By following this strategies, people can retire in 10 years.
- The secret is leveraging other people’s money. This is the key to real estate investing when you don’t have or don’t want to use your own capital.
- Allen writes in Nothing Down for the 2000s: Dynamic New Wealth Strategies in Real Estate, “Don’t wait to buy real estate. Buy real estate and wait. Real estate is the simplest, easiest, safest, shortest route to financial freedom. This is also as true today as it will be twenty-five years from now. If you want financial freedom, real estate will be a large part of your portfolio.”
- Set for Life: Dominate Life, Money, and the American Dream
- Scott Trench in this book show the ordinary person how to save 50% of their current income and create more income through real estate investment so that they could survive one year without work, then five years, then for life. Therein lies financial freedom.
- His no-nonsense, practical approach inspires confidence in readers.
- The Book on Estimating Rehab Costs: The Investor’s Guide to Defining Your Renovation Plan, Building Your Budget, and Knowing Exactly How Much It All Costs
- This book goes hand in hand with the BRRRR book mentioned above.
- It helps people accurately estimate how much a particular job will cost and which jobs will give you the most bang for your bucks.
- The Book on Tax Strategies for the Savvy Real Estate Investor: Powerful techniques anyone can use to deduct more, invest smarter, and pay far less to the IRS
- This helpful book has strategies for business deductions related to your real estate investment business, as well as about rolling funds from your 401K into a solo(k) so you can buy properties with it and take loans out against it.
- Very helpful and insightful resource with strategies and illustrations along the way.
- The Book on Advanced Tax Strategies: Cracking the Code for Savvy Real Estate Investors
- The sequel to the book mentioned above continues with tax-reduction strategies that include using the solo(k) retirement acount, 1031 exchange, and much more.
- A must read for serious real estate investors!
To complete the book round up, here are a few more real estate investment-related books to read.
10 Other Real Estate Investments: Section 121, Billboards, Raw Land, Storage Units, Wholesaling, Notes, Mobile Homes, Flipping, Private Lending, Hard Money Lending
Your Best Business Entity For Real Estate Investing: LLC, S Corp, C Corp, Partnership, or DBA