Is now a good time to invest in real estate? It depends on who you’re asking.
If you’re interested in investing or just learning more about the process, we’ll look at some of the best books on real estate investing and explain why it’s worth your time to pick one up to learn more.
When it comes to real estate investing, intentionality is key. Whether you’re investing in commercial or residential properties, understanding the market, grasping its history, and predicting potential outcomes within an acceptable margin of error is a direct path to success.
Bankrate.com had this to say about the housing market in 2024:
The combination of high mortgage rates, steep home prices and low inventory levels are lining up to make the 2024 housing market a challenging one for both buyers and sellers. But rates have cooled a bit — if that continues throughout the year, as some experts predict, then market activity should heat up in response.
J.P. Morgan offered the following insight about commercial property investments:
The commercial real estate outlook for the second half of 2024 is largely positive—multifamily continues to perform, as do industrial and retail. But challenges could lie ahead. The higher interest rate environment appears to be here to stay, and office vacancies continue to climb.
One of the best ways for a new or seasoned real estate investor to gain traction in the industry is by tapping into what others know. This can give you the insight and leverage you need to make smart investment decisions.
Below are some of the best books on real estate investing that deserve some extra bookshelf space.
Zeckendorf by William Zeckendorf
Subtitle: The autobiography of the man who played a real-life game of Monopoly and won the largest real estate empire in history.
Book Details: William Zeckendorf was a prominent American Real Estate investor who headed the investment firm Webb & Knapp after acquiring it in 1949. Under Zeckendorf’s leadership, the company acquired notable properties like the Chrysler Building, Hotel Astore in Times Square, the Drake Hotel, and many more. For all of his investment highs, there were incredible lows, including a bankruptcy that ended it all.
This book is an autobiography where Zeckendorf offers a personal look into the spectacular rise and fall of his real estate investment empire.
Why you should read this book: Real estate investing can look very shiny from a distance, but it’s only when you get up close and personal that you can see its true colors. For better or for worse, history has a tendency to repeat itself, so learning from the strategies (and mistakes) of others is always a smart choice before jumping into the deep end. This book offers training on what to do and what not to do in real estate investing.
Strategy
The Multifamily Millionaire, Volume I & II by Brian Murray and Brandon Turner
Subtitle: Create Generational Wealth by Investing in Small Multifamily Real Estate and Create Generational Wealth by Investing in Large Multifamily Real Estate
Book Details: This book series on multifamily property investments is based on the success of real estate investors Brian Murray and Brandon Turner. Murray is the author of Crushing It in Apartments and Commercial Real Estate, and Turner is the cohost of The BiggerPockets Podcast. In this two-volume series, the duo walks you through the ins and outs of investing in multifamily properties. Volume one focuses on small multifamily properties, and volume two on large multifamily properties. The authors offer both perspectives to give potential investors a solid foundation on what it takes to succeed in multifamily property investing.
Why you should read this book:
Part memoirs, part instructional manuals, these books are a good fit for anyone looking for a transparent look into what it takes to become successful in multifamily real estate investing. The authors make a great effort to cover strategy and pitfalls while also including personal anecdotes to give readers a well-rounded view of what to expect when they choose this investment path.
Financial Freedom with Real Estate Investing by Michael Blank
Subtitle: The Blueprint To Quitting Your Job With Real Estate – Even Without Experience Or Cash
Book Details: Author Michael Blank knows the painful backlash of wrong financial decisions well. A poor financial investment spun out of control and nearly caused him to lose everything, but he rebounded through real estate investing. This book answers the question: “Is it possible to become financially free with real estate?” According to Blank, it is and he proves it by sharing his personal experience of starting from zero and building a thriving real estate business that replaced his regular income with plenty to spare.
Why you should read this book: Blank shares in his book that you don’t have to have experience or a ton of money saved to invest in real estate. He walks you through the step-by-step process of building a thriving real estate business from the ground up, with a focus on apartments.
If you are looking for ways to replace your current job income and are willing to take the necessary steps to learn how to strategically build your financial future through apartment investing, then this book is for you.
The Book on Rental Property Investing by Brandon Turner
Subtitle: How to Create Wealth With Intelligent Buy and Hold Real Estate Investing
Book Details: Author Brandon Turner (one of the writers of The Millionaire Family mentioned above) was on his way to a career in law when he ditched the traditional path for one in real estate. Now with over 600 units that span single and multifamily homes, he shares his story of financial success with would-be investors.
Why read this book: As with the other books in this list, Turner shows the reader how to navigate the ups and downs of growing a real estate business with transparency and insight into what it takes to make it in the industry. Turner’s easy-going writing style feels like you’re sitting with a friend over a cup of coffee while he shares his journey and shows you the ropes. Beginners to advance investors will find value in this guide.
Short Term Rental Investing by Breton Publications
Subtitle: Step-By-Step Guide to Create a Vacation Property Business on Autopilot to Generate Passive Income and Retire Early
Book Details: If you’ve heard of AirB&B then you are familiar with short-term rentals. This book walks you through the process of creating a strategy for investing in vacation properties for short-term stays.
Why you should read this book: If you are looking for passive income and think that the fast-paced market of short-term rentals is a good fit, then this book is a good starting point. Unlike traditional single and multifamily property investments, STRs require a unique approach to getting properties on the market and noticed. Use this book as a reference to put the proper strategies in place to begin renting out vacation spots that others will enjoy returning to again and again.
Takeaways
There are so many real estate books on the market that it’s hard to narrow down the best ones. The top 5 in this post were selected based on either their unique insight into the inner workings of the real estate market or they offered solid foundational tools that would benefit most investors regardless of their level of experience.
Whether you are looking for a single, multifamily or mobile home park to invest in, these books will put you on the right path to creating a prosperous career.
