The best investment you’ll ever make is the one you make in yourself.
Every dollar spent expanding your knowledge, your skills, and your capacity has the potential for infinite returns.
There are a number of ways you can continue sharpening your sword, but the most effective is to learn from those who’ve come before. Why reinvent the wheel or forge a new path to the top of the mountain when there’s a perfectly nice paved road (the way) and a fully-gassed up Honda Civic (the vehicle) that’ll get you up there?
Modeling the behaviors and learning from the insights of accomplished successful real estate investors is obviously the best course of action. Unfortunately, when you’re new and just starting out, you probably don’t have direct access to these people. Social media makes it a bit easier, but still, most uber-successful real estate investors are unlikely to respond to you sliding into their DMs.
Fortunately, you don’t need direct access to these people, because there is a literal plethora of free and inexpensive resources available to everybody: books.
Now, there are a lot of books out there, but not all of them are worth your time and energy. To help fast-track your learning process, we’ve distilled the top-30 books you should absolutely consider reading if you’re interested in real estate investing. This list is by no means exhaustive, but it’s a great launching off point whether you’re a new investor looking to get their feet wet, or an already fully-soaked experienced investor looking to level up.
Real estate investing is our favorite wealth generating vehicle, but that vehicle is only as good as the driver. To set your investing business up for success (and yes, that’s exactly what it is, even if you only have one building or are passively invested in a syndication), you must constantly be working on elevating your skills, mindset, and capacity.
If you’re ready to take your real estate investing to the next level, then let’s dive in.
The Starting Line – The Best Books For Building Wealth Through Real Estate Investing
Most people have a fairly narrow view of what it means to invest in real estate. The first thing that comes to mind might be the fix-n-flips one sees on HGTV or the the ability to rent out a spare bedroom on AirBnB.
Truth is, there are countless ways to make money investing real estate. These strategies run the full range of possibility for those looking to take on a completely new 40-hour a week job to those who want to passively invest without ever having to deal with a tenant. There’s a place for you in real estate investing, regardless of where you fall along this spectrum.
Regardless of which niche and business model you pursue, certain skills, mindsets, and perspectives are vital for succeeding as a real estate investor. With that in mind, here are the best books for creating a solid foundation of understanding upon which you can build your real estate investing empire.
The Richest Man in Babylon – George S. Clason
This book actually has nothing to do with real estate specifically. It is, however, a timeless classic on the principles of wealth creation.
The modern education system has done a poor job building financial literacy. The Richest Man in Babylon helps remedy this situation through the power of parable and simple time-tested rules of investing.
If you’re new to investing or building financial freedom, then this is a great starting point as the core ideas of this book (my personal favorite being PYF, or Pay Yourself First) will serve you well in all aspects of your real estate investing career.
Think and Grow Rich – Napoleon Hill
Mindset is the lens through which we see the world. If it’s dirty, cracked, or out of focus, it’s going to impair our ability to effectively navigate the world.
So, again, we’re starting with a book that has nothing specifically to do with real estate, but everything to do with succeeding in life.
Think and Grow Rich has been a classic of the personal development space for nearly a century. And for good reason. The concepts and stories in this book are simple, straightforward, and easily consumed. Napoleon Hill set out to study the most successful people of the age (Rockefeller, Ford, Carnegie) to determine what were the characteristics that made them so successful.
The result?
A book that I recommend everybody revisit at least once a year.
Rich Dad Poor Dad – Robert Kiyosaki
Finally we come to a book on real estate investing, and what a book it is.
Affectionately referred to by real estate investors as the Purple Bible, Rich Dad Poor Dad has probably launched more people onto the path of financial freedom than any other book in the space. Yes, I’m fully aware what a grandiose claim that is, but it’s almost certainly true.
You’d be hard-pressed to find a single successful real estate investor who has not read this book. And if they haven’t, they’re surely familiar with the concepts shared within.
Why is this book so popular?
First, it’s written in just about the simplest language anybody has ever read. A 4th grader could read this and understand the plot.
Second, it’s told in the form of Robert Kiyosaki’s personal childhood story as he struggled to learn financial literacy from the competing worldviews of his poor dad (a mildly successful academic) and his rich dad (his best friend’s wildly successful business owner).
Third, it’s a high level overview of concepts that’ll serve you regardless of where you want to go.
The downside of this book is that it’s a bit cheesy at times. Still, don’t let that deter you. Give this book a fair shake and I’m certain you’ll walk away better for having done so.
The Honey Bee – Gino and Jake
Everybody loves a good parable, right?
Told in an engaging story format (aka Rich Dad Poor Dad), The Honey Bee is the story of a man whose journey through life might look a little familiar. A disaffected salesman who feels like his life is going nowhere.
That all changes when along comes a beekeeping mentor to teach Noah how to create and grow personal wealth through the lessons he’s learned beekeeping.
An engaging, high level story that’ll certainly help get your mind pointed in the right direction.
The Cashflow Quadrant – Robert Kiyosaki
The Cashflow Quadrant is the lesser known sibling of Rich Dad Poor Dad, but in my estimation, the lessons and framework in this book are even better.
We all fall into one of four categories: Employee, Self-Employed, Business Owner, Investor.
Employees trade their time for money. If they stop working, they stop earning. Self-Employed is similar to Employees in that the amount of active work determines income. Most people fall into these two categories.
They commit the cardinal sin of wealth generation: They trade time for money.
Things change in the other two quadrants.
Business Owners have employees who earn them money and Investors have money earning them money.
Everybody’s goal is to get to these two quadrants as quickly as possible. Check out the book to learn more.
Set For Life – Scott Trench
When Scott wrote this book, he was just a young buck house hacking his way to success. Now he’s the President of BiggerPockets (the largest community of online estate investors in the world).
Despite his youth at the time of its creation, this book is filled with timeless wisdom plus some actionable tactics anybody can start implementing to supercharge their wealth generating engine.
Wheel Barrow Profits – Jake Stenziano and Gino Barbaro
Our boys Jake Stenziano and Gino Barbaro make a second appearance on this list with their perennial classic, Wheelbarrow Profits. All the books in this section have focused on real estate from a high level, but this book is our first foray into a particular niche: multifamily investing.
Now, we’re obviously biased here at Invictus Capital seeing as how multifamily syndications are our niche, but we stand by the fact that this is one of the most powerful investment asset classes around.
If you want to learn all the reasons we think that (and how to get started actively investing yourself), give Wheelbarrow Profits a read.
Financial Freedom with Real Estate Investing – Michael Blank
Tired of your job and ready to make the jump into full-time real estate investing?
This might be the book for you. Filled with both high level AND tactical advice that’ll help you confidently begin your journey towards financial freedom.
All Things Real Estate Investing – The Best Books For Every Real Estate Investors
Once you’ve established a high level understanding of wealth building and how real estate investing can help get you there, it’s time to get technical.
These books are going to help you learn not only how to start investing in all sorts of different real estate, but also how to operate those assets.
The Book on Rental Property Investing – Brandon Turner
Brandon Turner is one of my favorite real estate authors for a couple reasons. First, as the host of the BiggerPockets podcast, he has an incredible depth of knowledge and experience. Second, his writing style is fun, engaging, yet thorough.
The Book on Rental Property Investing is an incredible entry point for any new investor looking to jump into real estate. This book is going to teach you a ton, and by the end, you’re going to have a much better lay of the investing landscape, plus, you’ll have some solid strategies to implement moving forward.
This is a highly recommended read regardless of which niche you end up specializing in.
The Millionaire Real Estate Investor – Gary Keller
Gary Keller’s written some pretty incredible books over the years. My personal favorite is The One Thing, though The Millionaire Real Estate Investor comes in a close second.
This was actually the first book on real estate investing I ever read and it was perfect for where I was at in the journey: ignorant, confused, and slightly overwhelmed.
The Millionaire Real Estate Investor is a fairly comprehensive introduction into the mindset, skills, knowledge, and strategies every real estate investor must be familiar with if they want to succeed in this business.
Fantastic read.
The ABCs of Real Estate Investing – Ken McElroy
Dan recommends this book to every new investor. Seriously, we can’t make it through a phone call with a new aspiring investor without him recommending The ABCs of Real Estate Investing, and for good reason.
Ken McElroy is a legend within the industry and this book is a testament to his ability to meet new investors where they’re at to present a topic (which can often feel overwhelming) in a simple, consumable, and understandable way.
Regardless of whether you’re interested in investing actively or passively, this is a great starter book for understanding the core concepts of this industry.
Don’t pass on this one.
The Advanced Guide to Real Estate Investing – Ken McElroy
We’re sticking with the legend here (Ken McElroy) and looking at the next book in his educational progression: The Advanced Guide to Real Estate Investing.
All the things that make The ABCs of Real Estate Investing such a classic hold true on this book geared towards slightly more advanced operators.
Honestly, don’t let the name scare you off. While this book is targeted towards investors with at least a baseline foundational knowledge of real estate, this book is by no means super-advanced.
We’re not talking about an advanced degree here. This book is consummately consumable for even newer investors, though many of the nuances of the concepts shared in this book might be a bit over the new investor’s head.
The Book On Managing Rental Properties – Brandon Turner
Million dollar ideas are worthless without million dollar execution.
We see so many new investors jump into real estate investing because they’ve been told how easy it is to make millions. There’s a misconception in this space because people falsely equate simple with easy.
Real estate investing is ridiculously simple by comparison to other investment vehicles. By reading even a handful of the books in this list, you’ll have a sufficiently deep knowledge to start building your real estate empire.
The part that most new investors overlook, however, is that while the systems are simple and the knowledge easy to come by, actually executing those systems on a day-to-day basis is actually quite difficult.
The Book on Managing Rental Properties is hands-down the best book out there on the topic of property management. If you’re planning on actively managing your own rental properties, then you absolutely must read this.
You’ll learn so much about leasing, evictions, units turns, and, most valuable of all, Brandon gives you a library of documents and resources that you can quickly and easily adapt to your own purposes.
This book is required reading for active investors.
What Every Real Estate Investor Needs To Know About Cash Flow – Frank Gallinelli
Great investors live and die by the numbers. They let the spreadsheets and the return metrics dictate whether or not they move forward with a project.
Things get pretty complicated, pretty quick when we start diving into return metrics. There are just so many different ways one could measure returns.
Honestly, at times, it can be a bit overwhelming when you’re new and hearing terms such as Cash-on-Cash Return, Internal Rate of Return, Annualized Average Return, Equity Multiple, and more.
If you’re like me (not much of a numbers person) then Frank Gallinelli has done you a real faor with What Every Real Estate Investor Needs To Know About Cash Flow. Even if you are a numbers person, this book is still well worth the read.
I’m hard-pressed to point to another book that was more helpful to me from a tactical level in the early days of my career than this book.
The Best Real Estate Investing Books On Tax Strategy
Listen, we’re just like you… we don’t get overly excited thinking about taxes. For most people it’s a necessary evil they’d like to think about as little as possible.
But that’s a mistake when it comes to real estate investing because the tax advantages afforded by owning property is one of the best reasons to get involved in this asset class in the first place.
The wealthy know that it’s not about how much you make, it’s about how much you keep. Understanding all the ways you can use the tax code to your benefit through real estate investing should be high on every investor’s to-do list.
And hey, once you see how little you’re paying out to Uncle Sam each year, you might just grow to enjoy tax season after-all. Here are some of the best books to help you level up your tax strategy game.
Tax-Free Wealth – Tom Wheelwright
Once you start reading about all the ways you can legally reduce how much you pay Uncle Sam each year, you’ll be hard pressed to stop. It’s infectious and exhilarating once you peek under the hood to start realizing all the ways you, as a real estate investor and business owner, can reduce your taxable liability.
Most people hate thinking about taxes, so the idea of spending your leisure time reading a book on the subject might seem like torture.
Trust me when I say that 1) it’s time well-spent and 2) this book will fly by.
Tax-Free Wealth takes a pretty boring subject (taxes) and makes it interesting. Tom Wheelwright succeeds by writing in plain English so that you never get overwhelmed by jargon or lingo.
Whether you’re already a real estate investor or just considering diving in, do yourself a favor and absolutely read this book.
The Book on Tax Strategies for the Savvy Real Estate Investor – Amanda Han and Matt MacFarland
After reading Tax-Free Wealth you’re probably going to dive even deeper into the rabbit-hole of tax strategy.
The Book on Tax Strategies for the Savvy Real Estate Investor should be the next book on your voyage. Amanda Han and Matt MacFarland are tax-ninjas who can help you understand all the ways to use the tax code to your benefit.
A great follow-up if you’re looking to go even deeper with Amanda and Matt is The Book on Advanced Tax Strategies.
After reading these two books on taxes and real estate investing, you’re ready to have some meaningful strategic conversations with your CPA.
Time to start saving, baby!
The Best Books on Apartment Investing
My first property was a triplex that delivered a 17x return within 9 months. That’s an astounding result, but it wasn’t long thereafter that I made the decision to make the jump to an even better asset class.
Apartment buildings.
If you’ve spent any time hanging around Invictus Capital, you know we’re biased towards apartment buildings, but it’s for a very good reason.
To us, apartments represent the best risk-adjusted-return in any investment vehicle, period.
Want to learn more about what makes this vehicle so incredible and, more importantly, how you can get involved? Start by checking out the books below.
Best Ever Apartment Syndication Book – Joe Fairless
If you want to learn how to syndicate an apartment building, there is no better book than Best Ever Apartment Syndication Book by Joe Fairless. Full stop.
Joe Fairless is a titan of the apartment syndication education space and he brings the full brunt of his knowledge and expertise to bear on this book.
This book is the closest thing to a step-by-step guide you’ll find on the topic of apartment syndications. It’s thorough, simply written, and infinitely actionable.
Seasoned and new operators alike will benefit from reading this book, guaranteed.
Raising Capital for Real Estate – Hunter Thompson
Syndications are a complex machinery of moving parts. One of the most important cogs making the syndication engine run is the role of capital raiser.
This person or group focuses exclusively on working with passive investors to fund deals with pre-vetted operating partners. Investors wanting to take an active role in sponsoring a syndication, but who lack operational expertise, broker relationships to churn up potential deals, or who live outside of their target investing market, might find themselves interested in the possibility of putting on the capital raiser hat.
If that sounds like you, then this is absolutely the book for you.
There are very few books on the subject of capital raising for real estate, but thankfully you have a real treasure trove of information with Raising Capital for Real Estate. Hunter Thompson does a thorough deep dive into the systems and processes you must establish if you want to find success in this business.
Raising Private Capital – Matt Faircloth
I’ll be honest: Raising capital isn’t terribly easy.
Sure, it is an absolutely fantastic way to get involved as a real estate investor and can be quite lucrative. With that said, many an investor who thought they could raise a couple million dollars from friends, family, and their close network have been sorely disappointed when the time came for people to put their money where their mouth is.
Again, raising capital is hard.
If you want to succeed, you’ll need to do everything in your power to stack the deck in your favor. Doubling down in your education as a capital raiser by picking up Raising Private Capital by Matt Faircloth will be time well spent.
How To Legally Raise Private Money – Kim Lisa Taylor
This is less a how-to book than it is a how-to-not-go-to-jail book. Raising capital for other people’s syndications is tricky business. There are regulatory hoops you must jump through.
The problem is, most people aren’t aware of what those hoops are. Compounding the issue, there isn’t a ton of readily available information detailing exactly what to do or not do.
Thankfully Kim Lisa Taylor has assembled just such a resource in How To Legally Raise Private Money. This book is not only designed for capital raisers. It’s for any active apartment syndicator taking private money.
Don’t find yourself on the wrong side of the law because of ignorance. Pick up this book before you take a dime from anybody for your next deal.
It’s A Whole New Business – Gene Trowbridge
This is a dense, deep dive into the legalese surrounding a private placement (aka: syndication). If you want to dive into the weeds (and I mean really into the weeds) of the legalities of apartment syndications, you should pick up It’s A Whole New Business.
Gene Trowbridge is one of the pre-eminent syndication attorneys in the space. The guy knows what he’s talking about. Unfortunately, though this book is packed full of useful information, it is clearly written by a lawyer and is a bit of a dry read.
Syndicating is a B*tch – Bruce Petersen
If the previous book was dry, then Syndicating is a B*tch just got out of the pool. Bruce Petersen knocks it out of the park with this insider’s look at all the hairy warts of this thing called apartment syndications.
Most people jump into syndicating because they’ve heard it’s a great way to build legacy wealth, bust out of their W2, and start living life on their terms. And sure, it’s all those things and more.
But Syndicating is also a b*tch, as Bruce Peterson so eloquently puts it. If you’re thinking about becoming a syndicator, do yourself a favor and pick up this book and allow Bruce Peterson to try and dissuade you.
If you’re undeterred after reading this book, then you might just have what it takes, you poor soul.
Apartment Syndication Made Easy – Vinney Chopra
Vinney (Smiles) Chopra is well known in the real estate investing space. He has an unforgettable smile, for starters. Second, he puts out great educational content.
Now, I’m personally not a fan of calling anything easy, but Vinney does a fantastic job sharing how he went from absolutely nothing to hundreds of millions of dollars worth of assets under management, all through the vehicle of apartment syndication.
Vinney Chopra is a wonderful success story. If you want to read a book that’ll leave you with a smile, then Apartment Syndication Made Easy is just that book.
Crushing It In Apartments and Commercial Real Estate – Brian Murray
One of the first books I ever picked up on the topic of apartment investing and it’s served me well throughout the years.
Brian Murray is now a legend of real estate investing, but he was no different than you and me when first starting out. Crushing It In Apartments and Commercial Real Estate is a beginners guide to commercial investing told through the lens of Brina’s early years bootstrapping his portfolio together.
You’ll love this book if you enjoy behind the scenes stories about the good, bad, and ugly of commercial real estate investing.
Creative Cash – Bill Ham
Bill Ham, with his good ol’ boy southern charm, never fails to drop massive knowledge bombs in whatever room he enters. His first book, Creative Cash, is no different.
If you’ve ever thought about investing in real estate, but think you don’t have enough money, this book will have you thinking again. Bill Ham is a master of creative financing solutions. Now, he’s sharing the tips, tricks, and strategies he used to acquire his 400 units (without ever stepping into a bank or qualifying for a loan) with you.
Those who rise to the highest levels of this industry either find a way or a make a way whenever they’re faced with an obstacle. This book will equip you with multiple ways. Go grab it.
The Complete Guide to Buying and Selling Apartment Buildings – Steve Berges
Real estate investing can seem quite complicated and overwhelming when you first start out. The books that stand out in my mind as being the most beneficial over the years are the ones that succeed in breaking things down nice and simply.
Few books in this space do that better than The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges. This is a straightforward guide walking you through most everything you need to know about finding apartment buildings, negotiating a fair price, and how to actually manage them.
This is packed with actionable information. Highly recommended.
Best Books on Passive Investing
If you read any of the above-books, you should be well convinced of the power of apartments as an investment vehicle. What you might be less convinced of, however, is whether or not you actually want to go out and buy a property yourself.
Not everybody wants to be an active investor dealing with toilets, tenants, and trash. That’s understandable.
Thankfully, there’s a way for busy working professionals to own apartment buildings without having to be actively involved. Passive investing is the golden goose of real estate investing. Check out the books below to learn exactly why.
Passive Investing Made Simple – Anthony Vicino and Dan Krueger
Of course, we’d be remiss if we didn’t mention our own book, Passive Investing Made Simple. Now, we’re obviously biased, but when we started writing this in collaboration with Jake and Gino, our goal was to create a one-stop resource for new and aspiring passive investors.
Many of the investors we speak to have never participated in an apartment syndication. They’re excited and eager to participate, but they’re also a little hesitant and maybe more than slightly overwhelmed.
Seriously, passive investing feels scary the first time.
With Passive Investing Made Simple we wanted to take fear out of the equation so that you’re fully equipped to dive into your very first apartment syndication without worrying whether you’ve made a stupid, newbie mistake.
Keep your eyes peeled for Passive Investing Made Simple to land on bookshelves nationwide in July 2021.
The Hands-Off Investor – Brian Burke
The Hands-Off Investor is an incredible resource for passive investors looking to invest in real estate private placements. This is easily the most comprehensive and thorough book of its type on the market.
Brian Burke is a legend of the industry and brings his decades worth of expertise to each page. There are levels to this game, and if you’re a passive investor looking to take your skills to the next level, this book is a must.
Passive Investing in Commercial Real Estate – James Kandasamy
Another fantastic overview of apartment syndications for passive investors. James Kandasamy does an excellent explaining simply and concisely most everything a passive investor needs to know in Passive Investing in Commercial Real Estate.
James is a rockstar who writes from a position of authority, which really comes through on the page. An excellent resource for would-be passive investors!
