InvestsavvyproInvesting in rental real estate is a proven strategy to diversify your portfolio, generate passive income, and build long-term wealth. Whether you’re a seasoned investor or just starting out, acquiring knowledge is key to success in this field. With so many books available on rental property investing, it can be overwhelming to choose the best ones. That’s why we’ve done the hard work for you by evaluating numerous books from industry experts. In this comprehensive guide, we’ll review the top 10 books that will help you navigate your rental real estate journey, covering everything from finding properties and tenants to handling financing and taxes.
Best Overall: The Book on Rental Property Investing
Author: Brandon Turner
Brandon Turner, an active real estate investor and co-host of the BiggerPockets podcast, provides a wealth of actionable information and strategies in his book “The Book on Rental Property Investing.” Although it may not cover every minute detail, it offers everything you need to get started on your rental property journey. Published in 2015, this book covers the keys to rental property success, building your real estate team, analyzing rental properties, financing deals, due diligence, closing, managing rentals, and exit strategies such as 1031 exchanges. Turner even includes four sample plans to demonstrate the various paths to achieving your goals.
Best for Beginners: How to Invest in Real Estate: The Ultimate Beginner’s Guide to Getting Started
Authors: Joshua Dorkin and Brandon Turner
Joshua Dorkin and Brandon Turner, both real estate investors and co-hosts of the BiggerPockets podcast, have written an easy-to-understand guide for beginners in their book “How to Invest in Real Estate: The Ultimate Beginner’s Guide to Getting Started.” Published in 2018, it introduces popular investing strategies such as house flipping, wholesaling, short-term rentals, turnkey investing, BRRRR (buy, rehabilitate, rent, refinance, repeat) investing, and house hacking. This book not only addresses how to invest with limited resources but also provides tips for increasing your income to invest more.
Best for Multifamily Properties: ABCs of Real Estate Investing
Author: Ken McElroy
Ken McElroy, a seasoned expert in multifamily asset and property management, shares his knowledge in “ABCs of Real Estate Investing.” Published in 2004, this book primarily focuses on multifamily properties. It covers essential topics such as identifying your market, setting property parameters, evaluating investments, making offers, due diligence, negotiation, and maximizing profitability. McElroy emphasizes the importance of building a strong team to avoid the common mistake of trying to do everything yourself. From attorneys and accountants to real estate brokers and property managers, he provides insights into assembling the right team for success.
Best for Financing Deals: The Book on Investing in Real Estate with No (and Low) Money Down
Author: Brandon Turner
Financing is often a major hurdle for real estate investors. In his book “The Book on Investing in Real Estate with No (and Low) Money Down,” Brandon Turner addresses this obstacle by presenting multiple financing solutions. Published in 2020 (second edition), this book covers various options such as FHA loans, home equity lines of credit (HELOCs), partnerships, private money, hard money, seller financing, lease options, wholesaling, and syndication. Turner emphasizes that you can mix and match these financing approaches to suit your specific deal or property. Real-life examples and creative combinations inspire readers to think outside the box when it comes to financing.
Best for New Landlords: The Book on Managing Rental Properties
Authors: Heather and Brandon Turner
Heather and Brandon Turner’s book, “The Book on Managing Rental Properties,” focuses on the management side of residential rentals. Published in 2015, it offers practical advice on being an effective landlord. The book covers topics such as Fair Housing, advertising vacancies, tenant screening, the application process, lease agreements, tenant management, finding contractors, and dealing with common issues like repairs, late rent, abandonment, and eviction. The Turners stress that proper management is crucial for successful real estate investing, especially for those who choose to self-manage their rentals rather than hiring property managers.
Best for Flippers: The Book on Flipping Houses
Author: J Scott
Flipping properties can be an attractive option for real estate investors, but it requires extensive knowledge upfront. J Scott, a multifamily investor with a substantial portfolio, shares his formula for success in “The Book on Flipping Houses.” Published in 2019 (revised edition), this book provides insights into potential problems, costs, and red flags to consider when flipping properties. It guides readers through the entire process, including financing, finding deals, creating budgets, managing rehab, and maximizing returns. By reducing risk and understanding the key elements of flipping houses, investors can achieve significant profits.
Best for BRRRR Investing: Buy, Rehab, Rent, Refinance, Repeat
Author: David Greene
David Greene, a real estate broker, investor, and former police officer, introduces the BRRRR method in his book “Buy, Rehab, Rent, Refinance, Repeat.” Published in 2019, this book outlines each step of the process, from finding deals and buying below market value to rehabbing properties and setting rental prices. Greene also shares tips on scaling your business and purchasing multiple properties per month. Even if you don’t follow the BRRRR method specifically, the book provides valuable advice applicable to various rental real estate strategies. It covers financing options, negotiation techniques, property value enhancement, market analysis, and finding the right real estate agent.
Best for Out-of-State Investing: Long-Distance Real Estate Investing
Author: David Greene
David Greene explores the opportunities and challenges of out-of-state investing in his book “Long-Distance Real Estate Investing.” Published in 2017, this guide highlights the changing rules, technology, and markets that allow investors to expand their reach beyond local markets. Greene shares strategies for building a remote real estate team, understanding new markets, managing out-of-state properties, maximizing ROI, and finding deals such as real estate owned (REO) properties, short sales, and half-finished homes. The book also addresses the complexities of long-distance renovations and offers practical advice on incentivizing contractors and determining the value of upgrades.
Best for Real Estate Taxes: The Book on Tax Strategies for the Savvy Real Estate Investor
Authors: Amanda Han and Matthew MacFarland
Amanda Han and Matthew MacFarland, certified public accountants (CPAs) and real estate investors, shed light on real estate and investing taxes in their book “The Book on Tax Strategies for the Savvy Real Estate Investor.” Published in 2020, this tax guidebook provides invaluable insights for novice and mid-level investors. The authors use real-world examples to explain complex tax laws, making it accessible even to readers without a background in real estate or finance. The book helps investors understand tax codes, make informed decisions, and optimize their financial outcomes.
Best for Extras: Rental Property Investing QuickStart Guide
Author: Symon He
Symon He’s “Rental Property Investing QuickStart Guide” offers a well-organized and engaging introduction to rental property investing. Published in 2021, the book provides methods for successful investments, including finding the right property, team, and long-term success plan. It caters to both beginners and experienced investors, offering a balanced approach to real estate investing. The book also provides access to various digital assets such as worksheets, checklists, rental calculators, and market analysis tools, making it easier for readers to start their rental property journey.
Conclusion
Rental property investing books offer a wealth of knowledge and insights to help you succeed in the real estate market. By choosing the right books for your needs, you can gain valuable information on finding properties, financing deals, managing rentals, and maximizing returns. Whether you’re a beginner or an experienced investor, these top 10 books will provide you with the guidance and inspiration you need to thrive in the rental property market.
While the books mentioned in this guide have been carefully selected, there are many other excellent resources available. Consider exploring “The Only Woman in the Room: Knowledge and Inspiration from 20 Women Real Estate Investors,” “The Millionaire Real Estate Investor,” “Creative Cash: The Complete Guide to Master Lease Options and Seller Financing for Investing in Real Estate,” and “Every Landlord’s Guide to Managing Property: Best Practices, from Move-In to Move-Out” as additional reading material to enhance your real estate knowledge.
Remember, the journey of rental property investing requires continuous learning and adapting to market conditions. So, grab a book, dive into the world of rental property investing, and start building your path to financial success.
Investsavvypro
