Purchasing your first investment property is incredibly exciting and also a little nerve-racking. This is completely understandable, given that real estate investments are often the largest purchase most people will ever make.
If you want to increase your confidence, self education is the No. 1 place to start. It’s also a great way to get connected with a vast and resourceful community of like-minded individuals with similar goals. Here are some recommendations for essential books and podcasts that first-time property investors should sink their teeth into.
1. The Rental Rookie Podcast
Great for: Answers to all the tough questions
The Rental Rookie is the perfect podcast for first-time property investors. There’s more than 90 episodes available so far, each addressing a common question that rookie investors ask before buying. A few examples of recent topics include how to get your spouse on board with an investment in real estate; how to overcome some of the common fears that all first-time property investors face; and how community infrastructure (a town’s sewage system, for example) can kill cashflow. Browse their episodes on a desktop computer and save them to you favorite podcasting app to listen to on your commute. Knowledge is power, and this podcast answers all the tough questions.
2. The ABC’s of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss
Great for: Tips on helping your rental investment property stay profitable
“If you are thinking about investing in rentals, there is no better book out there in my opinion. Ken shows you not only the right way to value a property, but also how to manage it for maximum profit. I was struggling as a first-time landlord and losing thousands every year on an unprofitable rental. Ken's book gave me the inspiration and know-how to turn my rental money pit into a cash-flow positive investment. If you study his methods and follow his advice, you will profit from this book!”
3. Think Realty Radio
Great for: Engaging interviews with highly experienced and knowledgeable real estate investors
If you’re looking for a podcast with highly informative interviews from an impressive roster of top-level talent in the real estate industry, check out Think Radio Realty Show. With host and expert real estate investor Abhi Golhar setting the stage daily, it's the perfect blend between entertaining and educating as the guest quality does not disappoint. Designed to keep investors educated on the most effective and efficient methods of real estate investing, Think Realty Radio gets you in a "real etate of mind." Check out one of our favorite episodes below (OK, we're a little biased on this one).
4. The Millionaire Real Estate Investor
Great for: Practical, applicable advice on real estate investing and a healthy dose of inspiration to keep you motivated
While it was published in 2005, this book is still extremely relevant. It’s written by Keller-Williams founder Gary Keller, one of the most knowledgeable and prominent figures in the real estate industry today. In the book, Keller provides thorough interviews with more than 100 millionaire real estate investors. Not only will you come away with practical, applicable advice you can actually put to work generate more income, you’ll also be inspired by the collected wisdom and personal experiences of investors from all walks of life. If you’re looking for some motivation, The Millionaire Real Estate Investor is a great place to start.
5. Long Distance Real Estate Investing
Great for: Real estate investors who want to diversify their portfolio across a variety of markets in different geographies
This book is perfect if you’re confused about where to buy. It lays out key factors to consider, and gives you insight into where to buy, where to avoid, and what to look for in a location. Long Distance Real Estate Investing was published by BiggerPockets Publishing in December 2017, and author David Greene provides all of the latest technology, checks and balances to stay informed and find the best deals from afar.
Tip: Roofstock makes it easy to buy and own turnkey rental investment properties across the U.S., no matter where you live.
6. BiggerPockets Podcast
Great for: Casual chats about failures, successes, motivations, and lessons learned in real estate investing
While you may be familiar with the BiggerPocket’s website, many people have yet to discover the value provided in the BiggerPockets podcast. It’s setting the standard for providing great content in the real estate investment industry. The show is hosted by Bigger Pockets CEO Josh Dorkin and real estate investor/author Brandon Turner, who highlight their past experiences and teach listeners how to build wealth and successfully invest in real estate. If you want to get bigger pockets, give it a listen.
7. Lifetime CashFlow Through Real Estate Investing Podcast
Great for: Stories and advice from expert real investors who successfully built fortunes through multifamily real estate
Lifetime CashFlow is a mix of interviews with industry leaders and motivational tips to get you started investing in real estate. Host Rod Khleif has owned and managed more than 2,000 properties throughout his investing career, and he uses the podcast to provide listeners with the best advice he’s acquired over the years.
If you’re looking for more ways to educate yourself on investing in rental properties, be sure to subscribe to the Roofstock blog. It’s full of investment advice and educational resources to put you in the best position to succeed in real estate.