If you’re trying to learn about real estate investing, it can be overwhelming! The resources are infinite. It can be all too easy to get stuck in the learning phase, but that's dangerous! If you’re pouring all of your time into learning, you can’t take action. There has to be a balance.
You don't need to read every single investing book on the market in order to take action and be successful. That’s why I’ve compiled a list of five must-read books to help you learn about the best investing strategies, taxes, business principles, and more. These five books have changed the lives of countless real estate investors, and I hope they will inspire you to apply their principles to your life.
1) Rich Dad Poor Dad by Robert T. Kiyosaki– If you listen to our podcast, you’ll know that we discuss the principles in this book often. And for good reason! Rich Dad Poor Dad is filled with invaluable pearls of wisdom about investing, having your money work for you, and gaining control of your finances. Many successful investors began on their real estate journey after striking inspiration from this book. If you’re looking to implement a life-changing shift in perspective, this is the place to start.
2) The Millionaire Real Estate Investor by Gary Keller - This book is all about gaining wealth through real estate. It’s a great resource for practical advice, and proven strategies that millionaire investors use. One of my favorite principles from the book is the three stages of real estate investing. It’s an important concept to grasp, especially in the beginning of your investing career.
3) Getting the Money by Susan Lassiter-Lyons – If you’re looking to attain private money, this is your go-to resource! This proven system has helped countless investors find capital to facilitate their deals. This book will teach you exactly how to raise private money, quickly. Additionally, Susan has a fantastic course on finding private money, and she was also a guest on the podcast!
4) Tax-Free Wealth by Tom Wheelwright – This book is all about using the current tax laws to your benefit. As a real estate investor, you need to know how the tax laws work, and how they are designed to benefit you. Tom Wheelwright is one of the most knowledgeable tax accountants around, and this book totally transformed my business. Tom was also a guest on the podcast! You can listen to our discussion about maximizing depreciation here.
5) How to Pay Off Your Mortgage in 5 to 7 Years by Clayton and Natali Morris. Shameless plug here! If you’re like most Americans, your biggest expense is probably your mortgage. But do you know exactly what your mortgage is made of? This book is all about teaching you how to better understand your mortgage, so you can pay it off faster — in 5 to 7 years. Whether you plan to pay off your primary mortgage so you can grow your portfolio, or you want to pay off a rental property, we hope this book will help you reach your goals.
BONUS RESOURCE: Freedom Cheat Sheet This one isn’t a book, it’s a simple PDF designed to help you calculate exactly how many rental properties you would need to achieve financial freedom. The Freedom Cheat Sheet changed everything in our family, and we hope it will do the same for you.