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RikaKazak · #1 (**permalink**) 11-04-2009, 05:23 AM

So as some of you might know I own/run my own real estate company. I own apartment buildings in lower income neighborhoods. I do everything from finding/closing deals, to managing and overseeing. And I even hop in and do some of the handyman work like fixing doors or putting up gutters (traditional work is a great poker break imo)

So I always get asked which real estate books I read/like and here are a couple:

The Millionaire Real Estate Investor by Gary Keller

It's fairly "dry" but as someone who is a math oriented person, I LOVED the numbers and detail he went into. It's personally my favorite RE book of all time.

http://www.amazon.com/Millionaire-Re...7326305&sr=1-1

The ABC's of Real Estate Investing by Ken McElroy

It's part of the "rich dad poor dad" series by Robert Kiyosaki which the whole series is worth checking out imo. This particular book goes into GREAT detail on how to exactly value a property. Is a 8 unit place worth $450,000 or is it worth $418,000...this book will explain which and more importantly WHY!

http://www.amazon.com/Rich-Dads-Advi...7326397&sr=1-2

Anyone else got any good books they might recommend?

p.s. I don't get anything for the amazon links, I just included them cause I'm lazy when I read posts...so I like it when others do it

Maximus13 · #2 (**permalink**) 12-22-2009, 02:51 AM

Read a few and fell asleep, Imo its all about who you know, and who you got in your back pocket, obv you need to be aware of comps, and going prices, and what part of the buyers market your trying to sell to, but you just can't beat having friends in the right places at the right time. Getting in private before the house hits the market, you can save alot of money this way.
I had friend that set up a foreclosure assistance business just an attempt to get to homes before the bank does.
Of course most of my exp. was in flipping homes, not so much rentals, long term investing.

Probability · #3 (**permalink**) 12-22-2009, 05:52 AM

I think Jared pwned the RE scene by being very motivated and stuff. Pretty impressive how far he's gotten in such a short period of time.

Maximus13 · #4 (**permalink**) 12-22-2009, 07:08 PM

and Soon he will have a pwning video intro, along with his already pwning of full ring videos!

RikaKazak · #5 (**permalink**) 12-23-2009, 06:28 PM

Quote:

Originally Posted by Maximus13

Read a few and fell asleep, Imo its all about who you know, and who you got in your back pocket, obv you need to be aware of comps, and going prices, and what part of the buyers market your trying to sell to, but you just can't beat having friends in the right places at the right time. Getting in private before the house hits the market, you can save alot of money this way.
I had friend that set up a foreclosure assistance business just an attempt to get to homes before the bank does.
Of course most of my exp. was in flipping homes, not so much rentals, long term investing.

I would agree...in flipping and foreclosures who you know is "almost" as important as what you know. In long term investing, it's more what you know...and books seem to be the best way of learning right now.

Maybe start RE videos??? (tbh, doubt there's a big market for it, but maybe)

RikaKazak · #6 (**permalink**) 12-23-2009, 06:28 PM

Quote:

Originally Posted by Maximus13

and Soon he will have a pwning video intro, along with his already pwning of full ring videos!

I'm excited for the new intro

Maximus13 · #7 (**permalink**) 12-23-2009, 08:52 PM

Quote:

Originally Posted by RikaKazak

I would agree...in flipping and foreclosures who you know is "almost" as important as what you know. In long term investing, it's more what you know...and books seem to be the best way of learning right now.

Maybe start RE videos??? (tbh, doubt there's a big market for it, but maybe)

This isn't a bad idea, start a site on real estate, where investors, landlords, agents etc, could meet and learn about real estate. Similar to a poker training site. I wouldn't be suprised if there isn't one already... pry look around tonight.

As far as the videos, Pry not a bad idea. I think i saw an infomercial for some one time.

Hm...yeah I pry should read more, so tough, lately ive been hooked on googling.. and just reading random articles.

WhiskeyFish · #8 (**permalink**) 02-20-2010, 02:09 PM

Thanks for the book recommendations, I'm looking forward to reading both of these.

I'm also a real estate investor. I have a portfolio of a few dozen properties that I've built up in a way that's in some ways very similar to how people on here have built their bankrolls. My first property, a 5-unit building in Philly, took me a year and a half to fully reposition and recover all of my initial working capital (and almost killed me). Now I'm averaging adding one to two properties per month, and I put far less time into the business than when I had just one property.

I haven't read many books on real estate, but the book that's helped me the most is The E-Myth Revisited by Michael Gerber. It's not about real estate in particular. It's essentially teaching you how to approach a business from a systems engineering perspective, but it's written in an extremely practical and easy-to-read manner.

RikaKazak · #9 (**permalink**) 02-20-2010, 02:30 PM

Quote:

Originally Posted by WhiskeyFish

Thanks for the book recommendations, I'm looking forward to reading both of these.

I'm also a real estate investor. I have a portfolio of a few dozen properties that I've built up in a way that's in some ways very similar to how people on here have built their bankrolls. My first property, a 5-unit building in Philly, took me a year and a half to fully reposition and recover all of my initial working capital (and almost killed me). Now I'm averaging adding one to two properties per month, and I put far less time into the business than when I had just one property.

I haven't read many books on real estate, but the book that's helped me the most is The E-Myth Revisited by Michael Gerber. It's not about real estate in particular. It's essentially teaching you how to approach a business from a systems engineering perspective, but it's written in an extremely practical and easy-to-read manner.

cool beans...I haven't read that book, I'll have to pick it up

schyllerwade · #10 (**permalink**) 07-31-2010, 08:28 PM

I read Kiyosakis "Real Book of Real Estate" and looooved it- I think it's good because it covers sooo much stuff, like commercial, residential, undeveloped etc..., it tells you HOW to go about investing/buying/selling in each one of those categories; like who you should have on your team i.e. lawyers, property managers etc I could go on and on, but heres the link, I'll be sure and check out The Millionare Real Estate Investor, mcelroys ABC's was already on my list hehe- http://www.amazon.com/Real-Book-Esta...0618688&sr=8-1