For those interested in investing, it is heard that real estate investing is the way to go. But, which properties are the right ones? What type of real estate investing is the right place to start? There are so many questions that require answering before getting started.
So, if you are looking for an excellent place to start, why not look into some of the best books on the market? With the right tips and guidance, you can have a good head start when investing in real estate. Here are 11 books for beginner real estate investors.
- Emotional Intelligence
Investing in real estate – like any investing – means knowing when to hold and move an investment, so it becomes naturally relatively easy to let emotions get the best of us all. Unfortunately, this can make for a very rough investing experience if you allow it to.
Through Emotional Intelligence, we learn how to control those emotions regarding capital-intensive decisions. When these decisions impact one’s personal or professional life, it can easily lead to irrational behavior. By learning how to deal with your emotions, you can save yourself potential issues going into your investment career.
- Think and Grow Rich
This book by Napoleon Hill is a must-read. While real estate investment focuses on rightfully making the right moves to make the most money, it doesn’t end there. Ultimately, it is also about building and investing your mind, not just your real estate knowledge.
By taking the time to make yourself well-rounded, you do more than grow your net worth through real estate. It is essential to do so to not only keep what we make in the real estate investing world but to multiply it in the long run eventually.
- The E Myth
Most people don’t understand real estate investing because they are starting a new business. The E Myth: Why Most Businesses Don’t Work and What to Do About It goes through in such detail.
It helps readers understand that what they are partaking in is entrepreneurship. Not only that but understanding the difference between a job and a business. It can be an essential distinction when investing in real estate for the first time.
- The Power of Moments
The Power of Moments: Why Certain Experiences Have Extraordinary Impact is a book that focuses on small but memorable actions and brand building. Starting a business – or an investment – is about creating value through more minor activities over time.
This book is beneficial for beginners because it helps them get the start they need in a crowded industry. Also, it helps establish branding for individuals who may not have considered the impact that branding can have on any business.
An adage: “real estate is a relationship business.” The foundation of real estate is built on relationships, so being new to the world of real estate means having the confidence to put yourself out there all day, every day.
Technically intelligent is excellent, but it won’t mean a lot if there isn’t the ability to communicate their ideas articulately. So if you feel like you have the knowledge base to get involved in real estate, but something is still missing, this may be the book for becoming a more well-rounded real estate investor.
While this book doesn’t deal directly with the real estate market, it is valuable. It is about navigating the stock market, focusing on and evaluating all of the risks that come your way as an investor.
The most important thing is that it teaches us how to understand the importance of identifying market cycles. When an investor takes the time to focus on understanding and mitigating risks, they ultimately put themselves in a position to be successful in the real estate world.
- Who Moved My Cheese?
Who Moved My Cheese? An A-Mazing Way to Deal with Change in Your Work and Your Life takes the overarching theme of the mouse in a maze. It is about the importance of openness to change and adaptability in life.
With real estate investing being highly stressful, the change will ultimately cause stress. This is one of those reads that is a little lighter, making it an excellent read for someone just starting on the path to real estate investing.
There are a ton of books out there about real estate investing. However, if you are serious about going at it, you should read several books on the subject to ensure that you are as well-prepared as possible.
But at the end of the day, it is building a business from the ground up. This book helps aspiring investors in the right frame of mind to become entrepreneurs, not just “real estate investors.” There is a crucial difference between the two.
Compared to some of the other real estate investing books, this one is less about the numbers. Instead, it focuses on real estate executives and their feelings about management and leadership.
This is a great book to learn the “soft skills” of real estate investing. In addition, it helps you get an idea of who the most prominent players in the industry are and how they have learned to become successful.
Arguably the best book for beginners is Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!
This is about a basic understanding of both investing and personal finance. The simple fact is that many first-time investors are not nearly as financially literate as they would like to believe. This is about establishing a foundation before jumping into real estate investing.
The one thing about many real estate investing books is that they tend to gloss over the costs involved in the endeavor. As a result, far too many people get involved and have a sticker shock from the charges.
Each property is different and offers its own set of surprises. Having a better overall knowledge of the costs involved in investing in a property can help to prepare you for what it is like. Nothing is worse than thinking you need a certain amount of money only to be slapped in the face by surprise.