Savvy investors know that the potential for profit in real estate is real, and this allure draws thousands of hopeful new investors each year. But, building a profitable, diversified portfolio takes hard work and persistence.
Keeping an eye on market trends via real estate publications like GlobeSt, The Real Deal, and Urban Land is essential to understanding changes in the industry, as is schooling yourself on the foundational ideas upon which the market is built. Understanding the backdrop for many of the practices we see today will add depth and wisdom to your investment strategies.
If you’re just getting started in real estate investing, here are five books that will help you get up to speed:
Real Estate Finance and Investment Manual by Jack Cummings
Now in its 9th edition, this book is a valuable guide to financing for real estate investors. It will lead newbies through the complex system that funds deals of all sizes and makes growth possible. Case studies and checklists help clarify financing concepts and procedures. It’s practical and immediately useful.
The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss by Ken McElroy
This is a quick read packed with tips on evaluating, negotiating, and managing properties to maximize profits. Plus, the book exposes some common myths in the marketplace that can trip up unsuspecting new investors.
The Intelligent Investor by Benjamin Graham
This classic by Warren Buffett’s mentor was written in the 1930s, so some pieces might not be as relevant today. Still, new investors should look to this book for insight into “value investing”, a philosophy created by Graham to protect investors from error.
How Markets Fail: The Logic of Economic Calamities by John Cassidy
What lessons can we draw from market disasters? What sort of psychology is at work when the market is driven to the edge? Cassidy helps new investors to avoid mistakes of the past and sounds a note of caution to those expecting security in existing ways of doing business. This book is a necessary look at what can go wrong and why.
This book gives real-world, practical knowledge specific to real estate investment. Eldred includes basic tools for getting started in investing, along with strategies and real-life stories from successful investors. This is a practical, concise, guide; low on theory and high on actionable advice.
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