Here are my favorite real estate books for beginners and why I recommend them to you with the finding I have. You must read these books to know everything about the real estate industry.
A Basic Overview of These Real Estate Books
- Seven books shall on core real estate investing, which is the most important.
- Three books shall be on how to sell a house fast (sales tips).
- One book shall be on world economics. The thought process of Adam Smith, Karl Marks, John Keynes, and more. How did they think?
- One shall be on complete due diligence of a house or a property.
- Two books shall be on how to think like a successful agent or an investor. I mean the game of deep mindset.
- One book will be on decision-making and how to think clearly.
- Three shall be on business development.
- One will be on tax management.
- And one on rental property investing.
A complete real estate course in a single article, if you read all these real estate books as I am going to say.
Table of Contents
1. The Millionaire Real Estate Investor (Gary Keller)
It is a famous book, and I have made a detailed summary of it. It is the most important book for a real estate investor. Anyone who wants to become an investor must read this book.
One of the best real estate books in this universe, that shall work on your mindset. It shall teach you how the author Gary Keller thinks and how he built the Keller William Realty Company from scratch, which has a net asset of $517 Billion. Gary Keller’s famous quote says:
- Anyone can do it, but not everyone will (will you?)
The main points in this book are:
- Think a million, Buy a million, and Receive a million.
- Use the formula, Big models, Big goals, and big missions.
- How to generate leads to sell the property.
- How to identify a hidden investment opportunity.
- Famous stories of successful investors.
This book mainly focuses on mindset development as an investor.
2. The Millionaire Real Estate Agent (Gary Keller)
The main difference between these two books is the millionaire real estate agent for lead generation and how to deal with clients. There are some important things that you will learn from this book:
He says: there is no failure, you win, or you learn either one is okay.
If you are serious about becoming an agent, you must read this book, and for investors, the millionaire real estate investor is much more suitable.
3. FLIP by Gary Keller
A book based on flipping houses for profit in between 3 to 5 months. FLIP will teach you:
- A step-by-step process to analyze each investment
- How to identify improvement opportunities
- An accurate estimate of the cost
There are lots of graphs and real-life stories of millionaire investors who become successful by flipping houses in their neighborhoods. There are five steps to flipping a house:
- Find it
- Analyze it
- Buy it
- Fix it
- Sell it
The book also says a good investment house possesses three elements:
- The house needs updating or repairs
- It is in an area of town where people want to live
- The owner is motivated to sell it for under-market value
If you want o flip houses, you should read this book. A masterpiece from the millionaire real estate investor series.
4. HOLD by Gary Keller
HOLD book for the people who want to flip the property but after some time may be a year or so. The book has those same five formulas but in terms of holding a property, those are:
- Find the right property for the right price
- Analyze it properly to make sure the numbers and the terms make sense
- Buy it if you think it will make you more money for sure
- Fix it in a way that outperforms the market
- Sell it and make a profit
HOLD book is not far from FLIP. But, you should read it if you want to flip a house. By reading these two books, your flipping education shall become complete.
5. SHIFT by Gary Keller
Gary Keller’s one of the best selling real estate books. Made especially for realtors. The main motto of this book is to prepare you to tackle tough times. Not to give up but to fight. Gary Keller says:
- If you can shift gears (shifting your thinking and tactics) you will accelerate ahead of the rest.
Five things you will learn from SHIFT and those are:
- Shift happens. Fluctuations are going to happen accept them and prepare yourself.
- Highs will tent to low. Lows will pass and become fruitful.
- In a down market, make sure you are prepared to do more with less of your resources.
- Maintain excellent service on low periods also.
- Maximize your marketing dollar and bring more potential customers.
It is more of a motivational book for agents and a little on real estate marketing, a good read for agents.
6. TAX-Free Wealth by Tom Wheelwright
One of the important real estate books for investors. Manage your taxes properly. In real estate, there are a lot of tax loopholes that you can use to reduce your property taxes. That is what this book is all about.
For example, when you sell a property, you have to pay capital gain tax which is about 20%. But a law called “1031 tax exchange” says you don’t have to pay any taxes if you reinvest the whole amount in a second property (Terms and conditions applied).
This exchange law is available in every country in the world. Just the name might be a little different. In India, it’s sections 53 & 54, I think.
Everything about the real estate tax is written in this masterpiece book. And you know that tax is the biggest expense in the real estate business. So, use this to reduce your taxes.
7. ABC of Real Estate (Ken McElroy)
ABC of real estate by Ken McElroy. A successful property manager, managing over $1 Billion worth of assets all over the world.
His book is a masterpiece. It will teach you how to evaluate the demand and supply in a market. How to identify a trend and how to find a market cycle in a particular market.
Without these three, you are clueless. When to invest and how to invest. What property to buy. You have no clue what to do next.
This book will open your eyes. You will be able to see the invincible. I highly recommend reading this book once in a lifetime if you are serious about the real estate business.
8. The Advance Book of Real Estate (Ken McElroy)
Ken McElroy’s next book is the Advance book of real estate. It will take you to the advanced world of investing. This book mainly focuses on mathematics.
When you do the Due Diligence this book will help you a lot. All the formulas that are required, all the charts and graphs, and evaluation metrics of property research will be found here.
But, don’t read this book in a Kindle or PDF format. Buy a physical copy and then read it. In Kindle, you might feel a little frustrated as every time there is some mathematical calculation, you have to move to the next page and go back to the previous one to understand the whole concept.
That’s what I think is frustrating. That’s why I recommend you to read it in physical form along with other real estate books by the same author. I read it in Kindle form, and I know how it feels.
9. ABC of Property Management (Ken McElroy)
Another book he wrote on real estate recently, ABC of property management. This book is made for the Landlords.
If you have some houses you want to rent out or have tenants on the property, this will teach you how to manage them well so that cash continuously flows every month without any disturbance.
Ken McElroy’s best quote I love the most:
- Trust but verify
He says the information is everywhere, and it’s a good thing, but when you invest, make sure that you verify that information before you act on it. Otherwise, you may lose everything.
This is the best advice I got from the author. His books are life-changing. It can also change your life.
10. Guide to Investing (Robert Kiyosaki)
The next book is a basic overview of real estate investing, Guide to Investing by Robert Kiyosaki.
It is not exactly one of the best real estate books, but I think everyone should read it. This book will help you to understand the basics of investing better. This books shares:
- What is the required mindset for investing?
- How to invest in a property or stock?
- What is the best practice that Robert Kiyosaki follows?
- How not to invest?
- What you must avoid?
If you are new to investing, you must read this book. A complete overview of what investing is.
11. The Wordly Philosopher (Robert Heilbroner)
A combined masterpiece on world economics, a tough read, but the information this book contains is priceless.
The thought process of famous economists Adam Smith, Karl Marks, John Keynes, and more, this book combined all of their works and made a simple copy in modern language.
You don’t have to read those monstrous books from the 1800s. Just read this book, and you will have an idea of the world economy, especially:
- How the financial system works
- Ho money works
- How all the industry works
- How capitalism works
- And how t improve it.
All in one economics book. A must-read for a real estate investor and agent.
12. Thinking Fast and Slow (Daniel Kahneman)
Daniel Kahneman received Nobel Prize for this book. A breakthrough in the financial industry, they say. It took me 20 days to complete a tough read, but it was worth it.
This book will challenge you to make the hard choice not to listen to the emotional brain and focus sin the ration brain, that the author says System 1 and System 2.
If you want to make better investment decisions, this is a must-read. I would say read it twice. In one go, it might not help you.
To understand the concept in this book, read it in a physical form, not in the kindle version. This is my experience with this book.
13. The Real Book of Real Estate (Robert Kiyosaki)
Ah, now the best book on real estate investing. A core investing book, perfect for the Due Diligence process.
This book is practical, not bookish content, only practical experiments by some successful real estate investors. They will tell you what they did wrong and right and what you need to do with their findings.
I think that is priceless. No one will ever be going to tell you that. This book mainly focuses on Due Diligence, I mean property analysis. A book for advanced investors. Not suitable for beginners, I think.
Here are the complete lists of the different niches of the book:
- Apartment investing
- Commercial building
- Commercial retail
- Land investing
- Building development
- Disputes handling
- Tax management
- Interior design
- Asset protection
- No down payment
- Tax line investment
- Hotel business
- Shopping malls
- Rental property investing
- Flipping business
- Real estate financing
A lot of niches are here. It is one of the best real estate books.
14. Influence Psychology of Persuasion (Robert Cialdini)
You might think this is not one of those real estate books, and you are right. It is a sales book. You must sell the property to make a profit or a commission as a realtor.
So how are you going to sell a house if you don’t know the techniques of persuasion, this book will help you with that.
Five techniques the author shares with us that are universal:
- Power of Reciprocity.
- Social Proof
These are the six universal influence laws, you can use them to influence anyone to sell anything faster.
15. Psychology of Selling by Brian Tracy
This book helps you to stay motivated in times of setbacks and how you can relate with your clients to close the deal faster.
You know Brain Tracy, no need for extra introduction. This is one of the best-selling books that helped a lot of people. The most important thing I have learned from this book:
- If you ask more quality questions to your customers and adjust your pitch according to the situation, you will sell more.
He says salespeople should focus on ‘what is in it for the customer, not what is in it for him. Read it if you are new to sales.
16. Sell or Be Sold by Grant Cardone
This is my favorite sales book. Everything you need to close a deal is written here. Grant Cardone is a sales master. You will become a pro if you read this book after the Psychology of selling and Influence book.
There are five main steps to selling anything to anyone:
- Greet the customer.
- Determine their wants and needs.
- Select the product and present the value.
- Make your proposal.
- Close the deal.
His three famous quotes:
- Commit and be done with it.
- Give your 100%.
- I have to get it done, no other options.
A formula author says you must practice:
- Commitment = Result = Happiness
There is more to talk about closing techniques, so give it a try. Your selling skill will improve.
17. ABC of Rental Property Investing (Ken McElroy)
It is one of the best real estate books for property management that came out late but has much new information.
Rental property is a tough business. Landlords will tell you how bad it can go. This book will help to solve all those problems that may appear in your rental property.
For example, people will not pay rent on time. They will say, we are in a bad position, my son is very ill, please give us one more week, etc. If you fall for that, you may lose the whole amount. And after seeing that other tenants will do the same. Your business will go bankrupt.
The problem your tenants are facing might be real, but you must act according to the contract. There is no place for emotions. You must become a bad boy and collect those rents on time. Otherwise fine them for late payment.
This is how you should run the business. Not in the mercy of your tenants.
18. Pre Suasion by Robert Cialdini
This book is a sequel part of Influence the psychology of persuasion. It mainly focuses on the way we talk. What exactly to say. I mean exactly what word to say. You can learn this from the book.
When you are trying to sell a house, one single word can make or break the deal. For example, the customer says the house is good but expensive. If you tell them no it is not. They will not buy it.
You should say yes the house is expensive, and there is a reason for it. It is not an ordinary house. It has a wonderful lawn, a beautiful wall with arts, and a peaceful neighborhood.
Expensive means, good. Know it and use it. Never say you are wrong. A customer is always right.
19. The Personal MBA by Josh Kaufman
It’s time to take your MBA degree one week by reading this book. This is an overview of the business system. You will learn here:
- Value creation
- Marketing techniques
- Sales tricks
- Value delivery
- Finance management
- How to work with people
- How to manage them
- And a lot more
If you know nothing about starting a business, you must read it. It has everything you need to start your own real estate business.
20. The Millionaire Booklet by Grant Cardone
This is one of my final real estate books. Research says that 80% of today’s millionaires are self-made. So, there is every chance that you can become one of them. Real estate has produced the most no of millionaires in the world.
Listen, getting rich is a pure decision, and it is possible if you believe in it. And not only that, you must commit to it. You must give your 100%. Otherwise, it might not work.
Some quotes you need to know:
- The more people you help, the more money you will make.
- If you want to make a billion dollars, help a billion people.
- If you’re committed to it, then your mindset, income, investments, and entire life will shift from middle-class to wealthy, and that’s a guarantee.
Read all these real estate books very carefully. I have chosen all these real estate books by keeping in mind that you know nothing about the property business. If you think these books are helpful, share them with your friends. Thanks for reading.
What are the best real estate books?
The millionaire real estate investor by Gary Keller, ABC of real estate investing by Ken McElroy, and the real book of real estate by Robert Kiyosaki.
How to become a millionaire real estate investor?
First, learn to think like a millionaire, hang out with rich and successful people, and do what they do. That is the process of mindset building.
How to invest like Gary Keller?
Gary Keller thinks it is all about mindset. If you know how to think a million, you can buy a million, and receive a million.
Do you like Ken McElroy’s Books?
Yes, I have read all of his books, and his writing style is very beginner friendly, even for a teenager.
What is the best book of Ken McElroy?
Ken McElroy’s The ABC of real estate and the advance book of real estate are two books that I like the most.