There are a lot of things that rental real estate investors need to discover to achieve your goal. If you are preparing to start as an investor, the learning process can seem complicated. Including the general principles and strategies of rental real estate investing, you will need an in-depth knowledge of financing. You should also learn how to find and negotiate deals, how to evaluate properties while learning about legal and contract issues, property management best practices, and more.
One of the best methods to get these educational building blocks is to read a lot of the industry’s must-read books. Although there are many other books to study, if you put your attention first on the top 5, you will be well on your way to a strong basis of knowledge.
1. Building Wealth One House at a Time by John Schaub
In his book, John Schaub has delivered critical investing strategies and advice for over four decades. It is one of the cornerstone books that any rental real estate investor can enjoy reading. Straightforwardly, Schaub covers the general principles and strategies of real estate investing, financing, the basics of deal analysis, and much more. To get a good understanding of the fundamentals, you really can’t do better than Building Wealth.
2. What Every Real Estate Investor Needs to Know About Cash Flow by Frank Gallinelli
In case you want to get involved in rental real estate, you have to be ready to crunch the numbers. Your long-term success depends on it. That is the motivation behind why Frank Gallinelli’s book is another must-read for new investors. It includes deal analysis, financing, and even provides Excel spreadsheets and formulas you can use. When you are ready for a detailed review of cash flow, this is the book you need to read.
3. Every Landlord’s Legal Guide by Marcia Stewart, Ralph Warner, & Janet Portman
Investing in real estate has a strong legal matter to it; that’s why learning the basics of landlord-tenant law very valuable. What authors Marcia Stewart, Ralph Warner, and Janet Portman have created is the go-to reference guide for all the legal issues that landlords face. From contracts to security deposits, evictions to hiring a lawyer, this comprehensive book is a must-read for every real estate investor.
4. Recession-Proof Real Estate Investing by J. Scott
Although rental real estate is much more recession-resistant than the stock market, as J. Scott points out that there are still principles and strategies that investors need to consider to keep their investments harmless against economic downturns. Although the lessons in the book were written after the recession of 2008, they certainly still apply today. After reading Scott’s book, you will be able to invest in rental properties with a detailed knowledge of economic shifts, why they happen, and how to survive a recession.
5. Retire Early with Real Estate by Chad Carson
The final book on our selection is one that gives investing advice and a personal finance guide. This advice is significant because, as a rental real estate investor, your future depends on having an established priority. If you finish reading Chad Carson’s book, you will appreciate how to realistically retire in 10 to 15 years. With actionable, step-by-step information, real-world case studies, and accessible strategies, Carson’s book should be one of the first ones you read as a new investor.
Once you are ready to engage in investing and secure your first properties. Make sure you’re teaming up with the best property management business today. Contact us online or call us at 352-428-2316 today.
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