Christmas is around the corner … and if you’re like me, that means you’re starting to plan your shopping lists. It also might mean you’re making lists of what you would like for Christmas. To help you, I thought I would share my picks for the best Real Estate Investing Books of 2013. That way you know what to get the real estate investors, renovators and real estate agents on your list … AND you know what to ask Santa to get you. 🙂
Oh and just so you know … these books weren’t necessarily published in 2013. In fact only two of them were. I just think they are the most important books for real estate investors to have in their library right now – especially if they are negotiating deals and raising money.
So here it is … my Top 5 Recommended Books for Real Estate Investors in 2013
#1 – More Than Cashflow: The Real Risks & Rewards of Profitable Real Estate Investing
Yep it’s my book and I have a bias in saying it’s top of the list but I wrote the book I believe that real estate investors need to read. I didn’t write this book so you would think I am the most amazing real estate investor in the world (I probably prove that I am not when I tell you some of the stories of what we’ve done wrong). I wrote it so you can make better decisions in your life as a real estate investor. I wrote it so you can hopefully never experience what it’s like to go to court over fire code violations. I wrote it so you can find the best property managers – and avoid the ones that rob from you. I also wrote it in the hopes that you ditch the idea that there is a perfect investment market or that there is one perfect system or perfect strategy.
I also wrote it so you would question the information you’re consuming. Just because someone wrote a great book or stands on a stage in front of you doesn’t mean their advice is right for you – or even has your best interests at heart.
This is a must read real estate investing book for all new and budding real estate investors.
#2 – Secrets of the Canadian Real Estate Cycle
Too many investors let the headlines in the media direct their investing strategies. In fact, the headlines often have the same message no matter what stage of the cycle a local market is in. Getting past those headlines and understanding what strategies and tactics will make you the most money at each phase in the cycle is what this book is all about.
When you understand the cycles, you will have a much better understanding of why the real estate market reacts the way it does to certain conditions. This book is written by Canadian investors for Canadian investors – and it’s a must have book in every investor’s library.
The real estate cycle is the term Kieran Trass in his book ‘The Housing Bubble’ defines as “an irregular but recurrent and predictable succession of causes and effects that the real estate market experiences with resultant impacts on the creation and destruction of real estate wealth.”
Recurrent and predictable … or, in other words, about as close to a working crystal ball as you’ll find.
#3 – Pitch Anything
In 2011 when the book launched, the publisher of the book gave me a copy and asked me to write a review. I had no expectations of what this book would be like because the books I receive from publishers for review are very hit and miss. I couldn’t believe how amazing, practical and easy to read this book was. You can use what you learn in this book to negotiate with tenants, secure better real estate deals, ask for a raise at work, and of course, raise money for your real estate investments. I have been buying copies and recommending it to just about every real estate investor I know. This isn’t just how to raise money (or how to get more money in 20 minutes as I wrote awhile ago), this is all about getting results from your conversations.
If you haven’t read this book then you MUST read it. Anybody you know in sales of any kind will be grateful for this book as a gift. Enjoy.
#4 – From Renos to Riches
If you EVER plan to do a renovation – small or large – (if you are a buy and hold real estate investor and you plan to hold your properties for more than 5 years … that is YOU!!) this book is going to give you the greatest return on your money ever.
I was lucky enough to be a part of this project before it went to print. Thanks to my advance copy I’ve been able to apply what I learned to several very significant renovation projects (including adding a legal suite). Applying just a few tips from the book (shopping for the things we use on every renovation in advance and buying them only on sale for example) saved us thousands of dollars on each renovation and helped me get our renos on budget and on time.
You don’t have to do everything Ian teaches to make a big impact on your renovations. We’ve heard from many of our clients that just one tip or strategy from the book saved them thousands of dollars … so I promise you’ll be glad you have this book on hand when the time comes to renovation a rental or even your own home!
Here’s a video with a few tips I learned from the book … it’s called How to Budget Your Rental Property Renovations.
Ian Szabo also teamed up with Mark Loeffler to write another book called Fix and Flip: The Canadian How-To Guide for Buying, Renovating and Selling Property for Fast Profit. For the renovator in your life, these two books will make a great gift under the Christmas tree this year.
#5 – Invisible Influence
What you actually SAY only makes up 15% of the message you are transmitting to someone else. Even if you are an expert and you clearly communicate VERBALLY what you want in a situation, you could be making a big mess of what you’re trying to accomplish just because you aren’t aware of the basic principles around influence. Body language, voice tone, presentation, the way you word your questions, and how you groom and dress are all saying just as much as your words are … and you need to be aware of that in order to be a better communicator. Each chapter of this easy to read book is tip or key principle of influence that you can apply to your communications and business operations. Some tips are more for marketing (which, by the way, applies when you’re advertising your properties for rent, for sale or you’re promoting yourself or your business), whereas others are specifically applicable to sales situations.
I am a big fan of Kevin Hogan, and I’m very grateful to him as well. He helped me work through my book cover and book title before I released More Than Cashflow. If it weren’t for him, I think it’s so much less likely that the book would have hit #1 on Amazon because the title and cover would not have been good enough to get there!
He knows what makes an impact and has put really key points into this one book. I know everyone in business and in real estate will gain some tips that they can immediately apply to start having a more positive impact in the conversations, presentations and negotiations you engage in everyday. Again this book is on my books for real estate investors list but anybody in business will appreciate this as a gift.
That is my Top 5 list but I must mention a couple of other books that you might want to give or read. Real Estate Riches: A Canadian Investor’s Guide to Working with the Right Agent by Tahani Aburaneh is a great gift for the real estate agent in your life. How to Win Friends and Influence People is always on my recommended reading list alongside The RRSP Secret: Defend and Build Your Wealth with This Powerful Investment Strategy which is the absolute best resources you can have to help you figure out how to lend out or borrow RRSP funds for mortgages on rental property.
So there you go! Hope this helps you figure out a few gifts …
CONTEST COMING UP!
We’re going to have a special Facebook contest the first week of December for a cool gift. If you don’t already have your copy of More Than Cashflow, order one now so you’ve got it for December 1st. The contest involves pictures, Christmas theme and the book. That’s all I will say for now. 🙂
Clicking on the books and links above will take you straight to Amazon.ca. You should know that I stand to make about 30 cents from every book you buy using that link above. I promise I will use the money for good not evil. I also can assure you that I am not recommending the books above in the hopes that I will make enough money to buy one whole book of my own … because you’d have to buy a lot of books from that link to do that. 🙂
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