"Real Estate books" aren't bad. I would strongly suggest that the OP do as much reading as possible. Self-teaching is incredibly efficient. For example, here is a book from one of the BiggerPockets guys. Though yes, avoid classes and any books greater than like $50.
Yep. In fact, David Lereah, the former chief "economist" of the NAR, published a book in 2006 entitled "Why the real estate book will not bust and how you can profit from it."
There's a book called The Wealthy Renter. It addresses many misconceptions about renting and completely changed my view on the topic. The author is Canadian so talks from the Canadian viewpoint but almost all chapters are directly applicable to the US market as well.
It doesn't answer your question directly but I thought it's an excellent book to bring up.
https://www.amazon.com/Real-Estate-Boom-Will-Bust-ebook/dp/B0012SMGME
Why the Real Estate Boom Will Not Bust - And How You Can Profit from It, by David Lereah, Chief Economist at NAR, Pub Date 2007
The former chief economist of the NAR, David Lereah, infamously wrote a book in December of 2007.
>An invaluable book . . . Today’s real estate markets are booming and Lereah makes a convincing case for why the real estate expansion will continue into the next decade. This book should prove to be a truly practical guide for any household looking to create wealth in real estate. —DEWEY DAANE, FORMER GOVERNOR OF THE FEDERAL RESERVE BOARD OF GOVERNORS
https://www.amazon.com/gp/product/B0012SMGME/ref=dbs_a_def_awm_bibl_vppi_i1
>Meanwhile, Yun says home prices "appear in no danger of any meaningful decline" given an ongoing housing shortage and swift selling, with listed homes generally seeing a contract signed within one month.
I can't be the only one who remembers that last NAR Chief Economist, and his famous book published in 2007.
Read The Wealthy Renter https://www.amazon.ca/Wealthy-Renter-Choose-Housing-That-ebook/dp/B01B2DK68E
The book will give you some insight into what buying vs renting would mean for you in the long run.
I can't believe you left out David Lereah, Chief Economist of the National Association of Realtors, who wrote a book entitled:
Real Estate historically appreciates with time. Your $190K value should be valued even higher in 5 years, and even more in 10, etc... while you hold you are also seeing income from rent and if the income outweighs the expenses/debt service then your making profit (cashflow). By renting your continuing to grow the value of your home and make money while doing it. And in time when you're ready to sell, you will have sold your rental at a higher price and accumulated additional income each year you held onto it. #2 below will help you to achieve your goals at a much more rapid pace than most other investors/rental owners.
Please please please read this book. It will change your life if you apply the concepts. It's not even that long. David M Greene - Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple
Best of luck to your new REI ventures!!!
This thread is a gongshow b/c everyone's latching onto the FrAnChIsE suggestion. All I'm going to do is link this:
https://www.amazon.ca/Wealthy-Renter-Choose-Housing-That-ebook/dp/B01B2DK68E
And suggest you check out a own vs. rent calculator b/c owning doesn't always come out on top.
If you want answers, here you go: https://smile.amazon.com/dp/B07QPZ8HBM/ref=cm_sw_r_cp_apa_glc_EHFYSVEVBNZTCRQT2ZZY
You want more income, a new source of income, blah blah blah. This is one of the most promising methods to use. Unfortunately most people want to use reddit to learn to become wealthy instead of doing real HW. Choice is yours.....
This is such a loaded question... I hope someone truly provides a both sides thoughtful answer to help you. My vote is easily for real estate investing (REI).... Also, I believe with the GME blow up etc... that you will receive biased answers here and most will support stocks. This book will provide you the reasons why REI is better and the strategy you should absolutely use if you do choose to invest in real estate. https://smile.amazon.com/dp/B07QPZ8HBM/ref=cm_sw_r_cp_apa_glc_G6A2X5VSRC80KM8VN3ZR
End of the day...... either will work great IF you do your homework..... so that means going beyond asking such loaded questions on twitter.... Good luck buddy!!!
Spent 6 months looking for an apartment because I wanted one that was nice enough to want to live in long term. That was a decade ago. Still love it. It has all the feel of a super high-end downtown condo... at 1/3 what owning a similar unit would run me. (I save the rest - /r/justbuyVGRO)
My lifestyle is exactly the same as my friends who are spending 3x as much to live across the street.
I think a lot of people have a hate on for renting because they’ve lived in shit apartments with awful neighbours and landlords.
Book suggestion: The Wealthy Renter. Really lays bare the economic implications of overpaying for a home. (ref.: “Implicit Rent”)
This one is pretty popular. I don't recall how into the risks it gets though, to your point.
https://www.amazon.com/dp/B07QPZ8HBM/ref=cm_sw_r_cp_apa_-QBNFbZDXYYAA
Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple
I think he’s talking about this one, I’m on my first read through and it’s been a great read. I also listen to every podcast they put out! Love BiggerPockets
https://www.amazon.com/Book-Rental-Property-Investing-Passive-ebook/dp/B018UTI2DO/ref=nodl_
I have recently published a great ebook on real estate investing. The book is invaluable for beginners as well as seasoned real estate investors. The aim of the book is to show investors how to make substantial income via property rental, what the different types of property investments are, how to find the right property, how to find tenants and how to screen your prospective tenants. By the end of the book, you will be in an excellent position to take further action toward earning passive income from real estate. It's currently free for a limited amount of time! If you enjoyed the book and received value and benefit from it, I would like to ask you to leave a review. Feel free to share it with anyone who you think might be interested. Thank you very much and I wish you all best with your investments.
For the future: Get one involved earlier in the process. You don't have to pay a cent.
For your situation- you have an accepted offer on the table. You can try to bring one in now but the seller's broker probably made you sign an agreement that they are representing both of you around the time you submitted your offer (or were putting it together). So I don't know if you CAN bring on a new buyer's broker, right now. I am pretty sure you need to ask the seller's broker because they are probably going to be pissed about having to split their commision (all broker's involved are paid by seller's sale- they split the commision- so 1 broker might get 6% but 2 would get half that- on the same sale) at this point.
Usually when you go to open houses, they ask you to sign in and answer if you are working with a broker. This is so they know, ahead of time, if they might need to split the commission.
Also, is this in NYC? If so, I highly recommend you read this before buying. https://www.amazon.com/dp/B00GL441AY/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1
Hi Everyone! For anyone interested in real estate investing, the first book in my series which hit #1 on Amazon Real Estate Investing Sucks: How to Deal with Change and Find Success as a Real Estate Investor is currently $0.99 (FREE for Kindle Unlimited). The book talks about how to be a successful real estate investor for the long term and how to overcome the hurdles and obstacles that get in the way. Reviews welcome. Thanks for reading! :)
https://www.amazon.com/Millionaire-Real-Estate-Investor-ebook/dp/B000SEKD0A
+
https://www.amazon.it/Flip-Find-Sell-Houses-Profit/dp/0071486100
I haven't read the 2nd one yet, the first one has a lot of fluff but in general I'd highly recommend it, especially if you don't know anything. It's kinda like "the intelligent investor", if you already know how to invest, it's useless, if you don't know the principles it's useful though.
IMO dont look at low income rentals. Evictions and maintenance calls will wipe out all of your profits. Depending on your area, you should be able to find some single family homes in decent areas (decent school districts) that need to be fixed up where responsible people want their families but don't quite qualify to buy a home there. The BRRRR (Buy, Renovate, Rent, Refinance, Repeat) method seems to work well in these areas. I've got a rental in an area like that. Its been rented for 3.5 years straight to the same tenant. Only get a maintenance call once every 6-9 months for things that actually need to be fixed. They always pay on time. It also cash flows nicely. I'm averaging 17% net profit each month ($240 per month). I fell into this by accident when we needed to move but couldn't sell the house at the time. After doing alot of research over the last year, I realized we did it right. The book below helped me realize this. Might help you with getting started. Theres alot of pushing you to biggerpockets.com in the book but you may want to check that out also. https://www.amazon.com/Book-Rental-Property-Investing-Passive-ebook/dp/B018UTI2DO/ref=sr_1_2?ie=UTF8&qid=1490583375&sr=8-2&keywords=biggerpockets
My favorite has been The Book On Rental Property Investing by Brandon Turner. It's pretty good if you don't know much at all. He shamelessly promote his website every once in a while but I do think it's a pretty good read.
I've interviewed several Principal brokers, and have chosen one to go with, I've been in contact with him, and he's brought me in to start training. Some people can't study study study, or they start second guessing themselves. I make it a habit it watch videos from successful agents about their sales presentations, and marketing efforts. I've also picked up a few books with some good info.