Becoming a Real Estate Millionaire
by Titus Kam on March 17th 2020
To many, real estate appears to be the perfect investment. It provides better returns than the stock market without as much volatility. Even when the financial sector spirals out of control, property stocks always seem sure to bounce back.
So why waste years of unproductive activity and incalculable emotional stress, when you can acquire the skills you need by studying the advice and experiences of those who came before you. This list I’ve put together is going to lay the groundwork for your education on how to build a real estate empire.
After all, the sale of a lifetime comes as a great addition to your real estate knowledge.
Having a better understanding of what's important to focus on can mean the difference between you making a savvy investment or buying a headache. The reading material mentioned below are by far some of the best books on investing available today.
To familiarize yourself in the game, be sure to check out the best books on real estate investing on this list.
Best Books on Real Estate Investing (Updated List March 2020)
One of the biggest roadblocks to real estate ownership is the financial feasibility of it. In other words – The lack of savings.
Not everyone has a million dollars lying around in their bank account, ready to be invested. In fact, most people usually don’t have too much savings to work with.
For those who has a million dollars handy, you can jump straight to our guide on How to Invest a Million Dollars
Fortunately for those without a lot of savings, Investing in Real Estate with No Money Down can help you get into the real estate game with a bit of creative thinking and actionable plans, even when your wallet says no.
“No money? No problem. It really is a lot easier than you imagine to purchase real estate with little to none out of your pocket. Example: I just bought a duplex for the cost of an inspection!” – Ben Lobaugh, Amazon Review
Whether it’s wholesaling, flipping, rentals, and more! No matter what niche or strategy you plan to use to build your real estate empire, this book can help you proceed.
The Book Investing in Real Estate with No (and Low) Money Down is written for anyone looking to get more mileage out of their real estate investment strategy and is a great starting point for beginners wanting to get into the game.
If you think apartments and commercial real estate are just for the big boys? Think again. This author was not an investment pro when he bought his first commercial property. He was a school teacher looking to build some side income.
Crushing It in Apartments and Commercial Real Estate provides a peek at the secrets behind Brian Murray's phenomenal success in the real estate market.
In his book, he reveals how you can increase the value of your property by being creative with how to use it. In 2017, the author purchased a failing hotel and converted it into studio apartments.
In return, he reveals his exact strategies and mindset that brought him his multi-millionaire status right in this book.
You'll learn how to:
• Find and creatively finance commercial property
- Grow a portfolio without any help from outside investors and without taking on excessive debt
- Use your small-investor status as a competitive advantage over corporate investors
- Identify simple, practical ways to increase profits while keeping costs low
Full of readily applicable advice for prospective investors, this book will help established property owners make the most of their real estate investment
This book is written to help you “learn from an expert” as the book puts it. There are many people out there who made their money in book writing and lost money in real estate, but Ken Mcelroy is someone who has made tons of money in real estate and is here to offer advice that works.
This book shows you how to look for things that the average person might miss, which can turn into significant financial rewards for you. The more of these hidden gems you find, the quicker your investments will turn into more lucrative opportunities.
The ABC’s of Real Estate Investing is a book about the basics of commercial real estate. With a significant focus on apartment buildings. Ken breaks down analysis, property management, and location hunting with great detail.
After reading this, you will have practical knowledge and actionable steps to:
- Achieve wealth and cash flow through real estate
- Find a property with real potential
- Show you how to unlock the myths that are holding you back
- Negotiating the deal based on the numbers
- Evaluate property and purchase price
- Increase your income through proven property management tools
When it comes to investing, it's always beneficial when you have a step-by-step guide on what to do like our comprehensive guide here in gold and silver investment.
That being said, knowing what could go wrong while you're following those guides can be invaluable too. It gives you an edge when it comes to spotting how things can go sideways and avoiding them before it even happens.
It is because of that reason that Phil Pustejovsky wrote this book to help you avoid costly mistakes and give you a better sense of danger in your real estate journey.
In his book, you will discover 21 true stories of real estate investing deals that went terribly wrong, and the lessons you can learn from them.
By the end of it, you would have obtained the enormous benefits of the powerful and profitable learning lessons from these 21 mishaps without the costs! You're about to gather lifelong, valuable real estate investment and house flipping wisdom that has taken others a lifetime and a fortune to learn.
This book is a must-read for anyone planning to be or is already a real estate investor because you'll find out what NOT to do in real estate.
Selling your house isn't as simple as listing it and waiting for the offers to come rushing in. It requires strategy, and the key is knowing when to sell, and certain seasons are better for selling real estate than others.
To understand real estate in our fast-paced, technology-driven world, we need to toss out all the outdated “truths” of the game and embrace the Internet Age's impact on real estate today.
Zillow Talk: The New Rules of Real Estate gives you all the tools you need to buy, sell, or rent a home. Densely packed with entertaining anecdotes and invaluable how-to advice, this book demystifies real estate based on real data.
We thoroughly enjoyed how the book covered real estate truisms by verifying or debunking them using statistics without over complicating it.
So if you're a renter or first-time buyer trying to get a handle on the market, or a seasoned investor wanting to learn new rules in the game, this book will shed light on all the dilemmas of real estate – the most significant investment of your life.
How to Build a Real Estate Empire
Written by a real estate investor with a broad portfolio encompassing New York City and beyond. Anthony Lolli got his real estate license at nineteen years old, by age twenty-three, he was already a millionaire and the head of a growing company that would become one of the largest real estate brokerages in New York.
In this book, Lolli covers the toughest lessons he learned on his path to becoming a successful business owner.
Through his trial and error, Lolli manages to define the process required to hire people you can trust and placing them in clearly defined roles. He also provides deep insights into selling effectively by focusing on a property's positives to overcome typical objections from clients. You will find examples on how you can show buyers the hidden positives of a property, rather than letting clients fixate on superficial issues.
Most importantly, The Heart of the Deal will teach you how to utilize all of these strategies to build a lucrative career without sacrificing your humanity in the process. This book reveals how you can obtain a win-win outcome at all times. As he keeps one central premise in mind: that the heart of every deal isn't money – it's people.
The Millionaire Real Estate Agent provides you with a plan to transform your real estate sales job into a million-dollar business. The national bestseller has been reviewed almost everywhere, and Realtors around the world reference it.
While the lessons in this book tailor to real estate agents, Keller includes an abundance of practical advice that many business owners will find useful.
For instance, when faced with a big new project, Keller observes that most people are so driven to get to work that they fail to realize how crucial proper planning is to reach the desired outcome.
“Becoming a better agent means understanding the how, what, and why of motivation.” – He calls this the secret weapon of all high-achievers: they define a motivating purpose to help them maintain perfect focus.
In the end, as Gary says, it's not about the money. It's about maximizing your potential. So take charge of your career, your life, and your future. Read The Millionaire Real Estate Agent, and you too can soar to new heights in your real estate game.
Want private money? Then this is the playbook you're looking for.
“This is one of the best real estate investing books I've read thus far. Easy to read and hard to put down. Many of the real estate books I've read are good and offer a lot of theories and tips but lack a lot of detailed actionable advice. If you are looking for step-by-step instructions on raising private money, READ THIS BOOK!” – Ryne L, Amazon Review
Susan Lassiter-Lyons got famous from structuring investments that provide exceptional returns for her investors, without giving up equity or control of their companies. She started her career in real estate in 1994 by purchasing tax liens at auction – aka. Purchasing seized properties for cheap.
Since that modest start, she's closed over 600 transactions as an investor, broker, lender, syndicator, and advisor. At the peak of her career, she decided to give back to the real estate community by putting all her knowledge and tips on paper – titled “Getting the Money – How to raise $250,000 in private money in the next 30 days.”
In her book, you will find:
- A simple framework to raise private capital for real estate
- The three types of private investors and how to approach each of them
- How to close deals…and make the process fun and profitable
We loved how she writes this book with the tone – “Here's how it's done, now go do it” and call to action. Read it, and you will find incredible insights from the perspective of raising private money for all your real estate needs.
This book does not relate directly to real estate investing, but we chose to include this book on the list as Robert T. Kiyosaki is a millionaire real estate investor himself. He wrote this book specifically for people who are starting on their entrepreneurial journey.
Rich Dad Poor Dad has stood the test of time, and April 2017 marks 20 years since Robert Kiyosaki's Rich Dad Poor Dad first made headlines in the Personal Finance arena. The book has since become the number #1 personal finance book of all time.
By reading his book, it will:
- Debunk the myth that you need to earn a high income to become rich
- Challenges the belief that your house is an asset
- Shows parents why they can't rely on the school system to teach their kids about money
- Defines once and for all an asset and a liability
- Teaches you what to teach your kids about money for their future financial success
20/20 hindsight, Rich Dad, Poor Dad should be viewed as a general starting point — an investment/startup summary, rather than a list of specific items to do as an entrepreneur. His style of writing is very polarizing: you will either love or hate his work.
Investing Books You Should Put on Your Wishlist Today (Extra List)
Listed below are some extra investing books we hope you add to your Amazon Wishlist! While these may not correlate with the best books on real estate investing, they’re still focused on diversifying your portfolio and growing your wealth in 2020.
Investing Books You Should Put on Your Wishlist Today (Extra List)
The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham's philosophy of “value investing” – which shields investors from substantial error and teaches them to develop long-term strategies.
Whether you want to play it defensively or go the route of the entrepreneur, when it comes to stocks, you always want to walk the path of the intelligent investor. All you have to do is follow the guidelines laid out here, and you too can turn your investments into modest, but steady profits.
“Indeed, the investor’s chief problem – and even his worst enemy – is likely to be himself” – A quote by Benjamin Graham.
This book will equip you with incredible investment tips under your belt, you should be able to invest intelligently and see your wealth begin to grow as you apply it’s timeless principles.
Anybody who wants to invest, but doesn’t want to risk it all, or an investor who wants to improve their current portfolio performance will find tremendous value in this book.