Hey all, I'm getting interested in doing some residential real estate investing on the side, and was hoping you guys had some book suggestions. I've read through a bunch of the threads for broader real estate investing (commercial, REPE at scale, etc.) but I was hoping to get something for specifically residential with investments under 1ml. Any thoughts?
Also, between the Linneman and Brueggeman textbooks, which do you recommend for this purpose? I have a finance background in undergrad, and work in equities asset management (currently studying for CFA as well), so no concerns about being totally clueless with finance lingo. What do you guys think?
Hey @hedgehog9" I’ve worked on the principal side for small and medium sized multifamily for a while and those books are overkill for starting in residential. You really just have to make sure it will cashflow positively sooner rather than later, know your financing options, and what costs you will incur operating the thing. Buy opportunistically (pay for an inspection and use an attorney for the contract), make some small improvements, and market it. I’m sure people will poo-poo Bigger Pockets (indeed the forums are full of unsophisticated dabblers) but several of their books (investing and managing in particular) are solid: https://www.biggerpockets.com/store
Many of us on WSO are inclined to make more it cerebral than it needs to be. The hardest part is finding the deal. Good luck!
Wow, thanks for the insight. Yes, I've heard about some of these books, and will definitely integrate them into my list!
I agree with Edifice , those books are way overkill for residential real estate investing. It really is as simple as understanding a cash flow statement and knowing what expenses to account for. Running comps on what you can get to rent is simple: just know your property is never THAT special that someone would be more for your place than any others in the immediate area. Bigger Pockets can be useful. My friend has a YouTube channel completely devoted to teaching people how to do this (and he’s legit, I’ve known him for a years and he’s the real deal). Check out Graham Stephan on YouTube. If you have specific questions PM me, more than happy to help out.
Thanks, really appreciate the support. I'll definitely read through bigger pockets, and check Graham Stephan as well
Can’t recommend any books, but just get out there and give it a shot. Do your research, run your numbers with a few variables and don’t start too big. You’ll learn more than a book can teach you in just a few weeks.
Multifamily Millions. The Millionaire Real Estate Investor is very good. Build a Rental Property Empire.
Thanks boss!
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