Must Read Real Estate Books

fez's picture
Rank: Senior Orangutan | banana points 442

Hey ladies,

I think we should get a reading list going since we finally have our own forum. I'm always looking for great RE books.

Commercial Real Estate finance books

Here's a list of books for getting started in real estate. the thread below also contains more suggestions from our certified users.
from certified real estate user @nelobynature

Good starter books

  • The Real Estate Game: The Intelligent Guide To Decisionmaking And Investment
  • Investing in Apartment Buildings: Create a Reliable Stream of Income and Build Long-Term Wealth

Good textbooks

  • Linneman Associates: Real Estate Finance and Investments

Currently reading (good so far)

  • Skin in the Game: The Past, Present, and Future of Real Estate Investments in America

On my to read list

  • Intent to Prosper: DUE DILIGENCE AND COMMERCIAL REAL ESTATE

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    Comments (131)

    Jul 2, 2012

    I just picked up "The Real Estate Game" by William Poorvu based on recommendations from other sites. Would love to hear about others people have read and recommend.

      • 1
    Jul 2, 2012
    MBAREALESTATE:

    I just picked up "The Real Estate Game" by William Poorvu based on recommendations from other sites. Would love to hear about others people have read and recommend.

    Second this one.

      • 1
    Jul 28, 2016

    Third it. Gives you a perfect foundation for evaluating deals at face value

    Jul 2, 2012

    I love this book. Gives a comprehensive view of real estate as an asset class from some basic urban economics to investment analysis. Worth reading if you've already taken a basic corporate finance or finance course. It's a bit academic, but worth the read. Worth it if you want a career as an professional investor in the asset class.

    Commercial Real Estate Analysis and Investments. David M. Geltner (Author), Norman G. Miller (Author)
    http://www.amazon.com/Commercial-Real-Estate-Analy...

    Jul 2, 2012
    Relinquis:

    I love this book. Gives a comprehensive view of real estate as an asset class from some basic urban economics to investment analysis. Worth reading if you've already taken a basic corporate finance or finance course. It's a bit academic, but worth the read. Worth it if you want a career as an professional investor in the asset class.

    Commercial Real Estate Analysis and Investments. David M. Geltner (Author), Norman G. Miller (Author)
    http://www.amazon.com/Commercial-Real-Estate-Analy...

    Second this, Geltner's book is my favorite. Its great if you are working professional in real estate with a strong understanding of finance; not so great for RE noobs.

    I would recommend this one for RE noobs as an intro to RE finance-
    Real Estate Finance & Investments, William Brueggeman (Author), Jeffrey Fisher (Author)
    http://www.amazon.com/Real-Estate-Finance-Investme...

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    Aug 4, 2012

    .

    GBS

    Jul 4, 2012

    I have read several of the books listed above and would agree with these suggestions.

    Another book I would recommend that is a little more entrepreneurial and touches on opportunity identification and deal making is: Confessions of a Real Estate Entrepreneur

    http://www.Amazon.com/Confessions-Real-Estate-Entrepreneur-High-Stakes/dp/0071467939/ref=pd_sim_sbs_b_5

    Jul 2, 2012

    Totally forgot this one. Some good info and perspectives from experienced people. http://www.amazon.com/Commercial-Real-Estate-Tsuna... The part that annoys me is how much the author tries to "sell" each contributor, and how much each contributor tries to sell his/her POV. There is also a boring section on how to adapt to changing times that is way too vague.

    Jul 11, 2012

    I second Nel and OB23. Am reading this at the moment, it's fascinating: http://www.amazon.com/Trump-The-Deal-Donald-J/dp/0.... You can read nearly the first hundred pages on google books http://books.google.ca/books?id=Ye6e_VxM00kC&print....

    Aug 4, 2012

    I dont know if i have it in me to read a book written by trump, regardless of how good the reviews are. lol

    GBS

    Jul 2, 2012
    econcomputingCRE:

    @ Relinquis & Real Estate Capital Markets --

    This book linked is the 1st edition, printed in 2000. ...

    The one I have is the 2000 one (I'm old so read it pre-2006). Its a big textbook that covers a lot (800+ pages). If money is an issue for you, get the older one. If you can stretch to the newer one buy it. It's likely to be a book you'll have for years. The most important thing is that you actually read it (most won't because of the size and because its a text book).

    Jul 22, 2012

    can anyone recommend and good books on urban economics / urban planning?

    Jul 28, 2016

    Planning in the USA, Cullingworth & Coves

    Jul 23, 2012

    Thanks for your input, Relinquis

    Jul 11, 2012

    ^^ You can find a pdf of this online. Not sure of WSO policy on this so I won't post the link.

    Jul 23, 2012

    this might be helpful to some:

    http://www.amazon.com/registry/wishlist/351LP291YX...
    it's my current real estate reading wishlist on amazon with about 40 books on it. Can't review as I havent read any of these yet, but they do look interesting and informative.

      • 1
      • 1
    Jul 24, 2012

    Urban economics/planning:

    • The Image of the City by Kevin Lynch
    • Making Cities Work by Robert Inman
    Aug 4, 2012

    How about "Confessions of a Real Estate Entrepreneur"? A guy I know who works in RE highly recommended it. Any comments on this one?

    Jul 23, 2012

    yea that's a good one. the guy likes to talk about himself too much almost infomercial bad, but he really does have some solid experience where he talks about putting together complicated/far stretch deals.

    definitely worth the read. worst case you're out $15 bucks and a few hours. but i liked it and still have it on my shelf

    Aug 7, 2012

    The Poorvu book is a great one as well as RE Finance & Investments by William Brueggeman

    Aug 18, 2012

    In the last two weeks I have read the following:

    1) http://www.amazon.com/Estate-Investor-Flow-Financi...
    Recommend: I thought the book provided a great overview for investing in real estate and the key financial jargon that you will need to know. I knew most of what was in the book already, but it was nice to get a refresher and some of his personal advice.

    2) http://www.amazon.com/Intent-Prosper-DILIGENCE-COM...
    This book was okay. I thought it was too general for my tastes. He had some interesting advice from his many years in the business, but nothing that really stuck with me.

    I am working my way down the recommendations on this page. I look forward to going through the textbook above, as I like less self help and more detail.

    Aug 18, 2012

    Can someone recommend books for interview?

    Man it took me 4 months to finish Real Estate Finance & Investments, Brueggeman & Fisher. Great but not an efficient way to spend my time.

    The Auto Show

    Aug 26, 2012

    Nice thread.
    Which book would you recommend to buy for a total noob in the RE industry ? In order to learn who are the big players and how all the different players interact (AM, brokerage, REPE,...) plus some informations on how to value a property/any RE asset.

    Jul 3, 2012
    TheSquale:

    Nice thread.
    Which book would you recommend to buy for a total noob in the RE industry ? In order to learn who are the big players and how all the different players interact (AM, brokerage, REPE,...) plus some informations on how to value a property/any RE asset.

    For industry/players insight probably a Valut/Wetfeeet guide to the Real Estate Industry

    valuations = one of the many RE Finance books mentioned throughout this thread

    Sep 20, 2012

    Any suggestions on single family/multi books?

    Sep 20, 2012

    Plug for Linneman, if it hasn't been mentioned yet.

    Aug 4, 2012

    http://uli.bookstore.ipgbook.com/ This deserves to be here.

    Love,
    G. B. Sachs

    GBS

    Sep 25, 2012

    Has anyone read "Active Private Equity Real Estate Strategy" by David Lynn?

    http://www.amazon.com/Active-Private-Equity-Strate...

    Sep 25, 2012

    Maverick Real Estate Financing: The Art of Raising Capital and Owning Properties Like Ross, Sanders and Carey

    Sep 20, 2012

    Aside from the Intent to Prosper: Due Diligence and Commercial Real Estate suggestion, are there any recommendations for due diligence on commercial properties (ex. +20 units)?

    Dec 7, 2012

    Hallo every one.
    Guys, you mentions very nice link for real estate knowledge These books are very helpful for newbie of real estate sector. So thanks for share this information with us...

    All is well

      • 1
    Jan 2, 2013

    Hi, anybody with a pdf version of the book Real Estate Finance and Investments by Brueggeman and fisher?

    Jan 3, 2013

    Thanks, seem like good suggestion

    Mar 27, 2014

    I have a copy of "Confessions of a Real Entrepreneur" via PDF. I am willing to trade my copy for any of the titles above.

    Any takers?

    Mar 28, 2014

    Great post.

    Mar 28, 2014

    Yes that's cool to read books but what matters in real estate is not book reading but the experience. If you have good real estate practical experience you will become a good real estate agent rather than simply reading books.

    Sep 25, 2012
    sambhabanaroy:

    Yes that's cool to read books but what matters in real estate is not book reading but the experience. If you have good real estate practical experience you will become a good real estate agent rather than simply reading books.

    Mar 28, 2014

    I don't think anyone here really cares about being a real estate agent. Most people are probably looking to find high paying jobs working in the real estate investment space. VERY few people can just go out there and put their own money on the line to get "experience"

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    Sep 25, 2012

    The base level of required knowledge for a real estate agent aka sales guy, is far less than the fundamental skill set for an investors or developer. It's better to learn a concept in a book than learn it in a deal when you have capital risk.

    Mar 28, 2014

    Three recommendations:

    Commercial Real Estate Restructuring Revolution: Strategies, Tranche Warfare, and Prospects for Recovery by Stephen Meister - content is true to the title

    Other People's Money by Charles Bagli - if you can stomach the book's anti-big-money-real-estate undertones, this is a great read for a deal nerd interested in Stuy town, how Tishman won the deal and how its strategy subsequently unraveled

    Chapter 21, Office Party (p. 239), in King of Capital is a personal favorite - all about Blackstone/EOP

    Mar 30, 2014
    Blue Star:

    Three recommendations:

    Commercial Real Estate Restructuring Revolution: Strategies, Tranche Warfare, and Prospects for Recovery by Stephen Meister - content is true to the title

    Other People's Money by Charles Bagli - if you can stomach the book's anti-big-money-real-estate undertones, this is a great read for a deal nerd interested in Stuy town, how Tishman won the deal and how its strategy subsequently unraveled

    Chapter 21, Office Party (p. 239), in King of Capital is a personal favorite - all about Blackstone/EOP

    Yep. Finished "Other People's Money" about a month ago. Extremely interesting.

    Currently reading "Triumph Of the City". It's about urban economics and how the city is man's greatest invention.

    Mar 28, 2014

    I didn't go through the whole list of posts.

    Way back when I was starting out, I read Linneman's book and did all the case studies. Everyone recommended Poorvu's book but I thought it kind of sucked -- very old school.

    Apr 1, 2014

    "Flip- How to find, fix, and sell houses for profit" is a good read for anyone interested in acquiring properties rehabbing them and selling them.

    Has a lot of deal examples and really breaks down some of the things people initially overlook like holding costs and financing costs. Helpful construction budgets as well.

    http://www.amazon.com/FLIP-Find-Sell-Houses-Profit...

    Apr 1, 2014

    Shaping the Skyline, the biography of Julian Studley is an interesting read.

    Apr 10, 2014

    Linneman and Poorvu are usually the ones which are heavily recommended

    Apr 10, 2014

    also interested

    Apr 10, 2014

    int as well

    Apr 10, 2014

    ^^ Best Book

    Apr 10, 2014

    Real Estate Finance & Investments by Bruggeman and Real Estate Finance & Investments: Risks and Opportunities by Linneman are considered the go-to books.

      • 1
    Apr 10, 2014

    Run a search in the top right, this has been covered a few times

    Apr 10, 2014

    The Real Estate Game

    Apr 10, 2014

    How to Build a Real Estate Empire by George Marcus. Haha. I think it was cheap to buy. Some good nuggets of wisdom. I read Linneman.

    Best Response
    Apr 10, 2014

    I've compiled a list of real estate, investing, and business books which have framed the way I think about my real estate career. You can check them out on my blog A Student of the Real Estate Game / Read

      • 3
    Apr 10, 2014
    jstamp02:

    I've compiled a list of real estate, investing, and business books which have framed the way I think about my real estate career. You can check them out on my blog A Student of the Real Estate Game / Read

    Read your blog when I was breaking into CRE...awesome stuff.

    Apr 10, 2014

    Awesome, glad you've found it useful. I'm dedicating some serious time to it now and hope it only gets better. This is my first time digging into WSO, seems like a great forum.

    Apr 10, 2014
    jstamp02:

    Awesome, glad you've found it useful. I'm dedicating some serious time to it now and hope it only gets better. This is my first time digging into WSO, seems like a great forum.

    Yea these forums are a great source of info and generally drum up some insightful discussions.

    Apr 10, 2014

    Post often

    Apr 10, 2014
    CREPATH:

    jstamp02: I've compiled a list of real estate, investing, and business books which have framed the way I think about my real estate career. You can check them out on my blog A Student of the Real Estate Game / Read

    Read your blog when I was breaking into CRE...awesome stuff.

    Likewise - I think it's fantastic and have been a fan for a long time @jstamp02

    Apr 10, 2014
    jstamp02:

    I've compiled a list of real estate, investing, and business books which have framed the way I think about my real estate career. You can check them out on my blog A Student of the Real Estate Game / Read

    My man can't post links yet, but you should definitely check out his site if you're considering real estate

    http://astudentoftherealestategame.com/read

    Apr 10, 2014

    @neanderthal appreciate it. I'll get there 1 day!

    Apr 10, 2014

    The Liar's Ball

    and

    The Great Crash-must-read for anyone interested/working in finance.

    Apr 10, 2014

    You can learn the basic math with Linneman or the Geltner & Miller books. Unless you're on the ground in the city, broker reports are the closest thing you'll find to know what's happening with supply and demand. The 2-3 large brokerage shops issue decent quarterly reports on every major metro and give updates by asset class.

    Apr 10, 2014

    I read the Art of the Deal (Donald Trump) when I was in high school. I think it perked my interest from an early age. If anything you learn about the windfalls and the perils of our industry. I want to own a casino also.

    Apr 10, 2014

    Read your blog as well. A lot of beginning questions could be answered through his blog.

    Apr 10, 2014

    Has anyone read Poorvu's second book, Creating and Growing Real Estate Wealth: The 4 Stages to a Lifetime of Success? I'll probably end up buying it since I enjoyed Real Estate Game so much, but it seems a bit basic from the summary.

    Apr 10, 2014

    Hey, actually I've read that book and it was really good, it pretty much covered a multitude of ways that one may break into the real estate industry and also provided case studies of some of the greats.

    Apr 10, 2014

    The Real Estate Game - Poorvu

    Nov 11, 2016

    "Landlording on AutoPilot" by Mike Butler. It is considered to be one of the best books on being a landlord for single family homes. There is so much good information in this book about dealing with tenants.

    Nov 27, 2016

    is this the same poor who is one of the initial investors of baupost?

      • 2
    Mar 10, 2017

    Making It in Real Estate: Starting Out as a Developer by John McNellis

      • 1
    Mar 10, 2017

    This is one of my favorites: Confessions of a Real Estate Entrepreneur: What It Takes to Win in High-Stakes Commercial Real Estate.

    Dec 12, 2017

    Hi, I am sharing the name of 3 books that I have read.
    1. Rich Dad, Poor Dad(2000) by Robert Kiyosaki
    2. Beating the Street(1994) by Peter Lynch
    3. The Intelligent Investor(1949) by Benjamin Graham

      • 1
    Dec 12, 2017

    Well written question...what did you end up doing and would you recommend it? How is the search going?

    Dec 12, 2017

    Did either of you ever get a good answer for this? In addition to what you mentioned, I want to better understand the RE Structured Finance component as well.

    Apr 10, 2014

    The best thing you can do is NETWORK. It sounds like you have a strong finance and modeling background so I expect you will get up the real estate modeling curve very quickly. I would suggest joining ULI if your city has a chapter and just start reaching out to real estate professionals. Schedule lunches or coffee chats. This will probably do more for you than chasing some certificate. Best of luck.

      • 1
    Dec 12, 2017

    I agree with oneshot. I am currently an undergrad pursuing a real estate minor. The best text I have studied in the area of real estate finance has been Real Estate Finance & Investments by Bruggeman and Fisher.The Real Estate Game by William J. Poorvu will also give you some good info, but the book does not only discuss finance.

    Dec 12, 2017

    I should clarify that this is for commercial lending

    Dec 12, 2017

    Real estate financing of distribution, production and use of financial resources that are placed in the housing sector. As in any other part of the financing, including the risks associated with real estate financing and effective management of the property, which reflects the increase in value over the ROI of the project.

    Dec 12, 2017

    There are different levels of these books to investors. It can check with your local bookstore, browse real estate investment. You need to buy various methods of investment, including the veterans entered, sales of distress, no money trafficking.You should consider joining a local real estate investment group in the books.

    Dec 12, 2017

    I would recommend the following-
    BRUEGGEMAN , W. B. AND J. D. FISHER , 2004, Real Estate Finance & Investments
    and
    LINNEMAN , P, 2004, Real Estate Finance & Investments: Risks and Opportunities

    Dec 12, 2017

    I've read Linneman, it's a great book

    "I did it for me...I liked it...I was good at it. And I was really... I was alive."

    Dec 12, 2017

    I used Linneman for my undergrad RE Finance courses. It is a great book, and it is still on my shelf here at work.

    Dec 12, 2017

    ^ Wharton

    "I did it for me...I liked it...I was good at it. And I was really... I was alive."

    Apr 10, 2014

    I put together a reading list here with my favorite real estate and investing books - http://astudentoftherealestategame . com /read/ - is there anything I left off?

    Dec 12, 2017
    Dec 12, 2017
    MogulintheMaking:

    You went through this?

    http://www.wallstreetoasis.com/forums/must-read-re...

    Oh, there we go! Thanks. Somehow I missed this.

    Nov 23, 2018

    Crushing It: In Apartments and Commercial Real Estate, great read.