Obviously I’m new to investing and have a question for you all. I’ve been reading so many of the amazing forums on the site and have gotten a ton of good education. I was wondering if anyone had any suggestions on the best best investing books or courses out there that give accurate information to investing strategies. I would like a book that covers everything such as wholesaling, flipping, subject two’s, buying to hold, commercial, land development ect. Any help would be great. Thanks everyone!
Nothing Down By Robert Allen. Honestly more important than courses is figuring out your plan and building relationships and getting a mentor. I took this route and have been investing full time for 4 1/2 years started broke now I am financially free!
You can probably find the basics about these different REI strategies by searching the forums here and searching for articles on the internet. Once you find that information, pick what you want to do and try your best to make it work. Don’t go in ten different directions in the beginning or you’ll likely fail.
Rienewbie1, a common mistake with most n00bs is trying to know all things before doing anything. In which case you end up doing nothing because there is always one more book, or seminar, or DVD that will provide you with the secret sauce to success.
As a n00b, you should focus on one, just one strategy to start with. Do a deal or three utilizing that strategy and then grow from there. For most new investors the best strategies would be either wholesaling or lease options. My preference is the latter as I have found them much easier to get deals with. Specifically, I can recommend Carbonare’s manual, The Naked Investor, for lease purchasing.
Justin and AJ are spot on.
I spent far too many years in the “need to know this and need to know that before I can get started” phase. Please don’t do it to yourself. You’ll tell yourself all the lies to make yourself feel ok about not having to make moves, but you are only lying to yourself if you do and when you do that, you’ve lost who you are.
Also, keep in mind that this forum has so many helpful people here. Even if you’re unsure of what to do, I’m sure someone here will gladly walk you through and hold your hand, though it may be virtually. LOL.
Good Luck in our investing. Once you start talking to people and building relationships, you’ll realize it wasn’t so scary after all…well, at least I was scared to death.
I just wanted to add that almost five years after we started, we’re still doing just rentals. I haven’t done any other aspect of REI besides buy and hold for rent. We closed on a bunch of properties today. One of them was owned by another investor who’s been doing this for 30 yrs. He was going to sell the house we bought on owner financing to someone when it was finished, but decided to just sell it to us instead. I thought about trying to do that with this one too, but my wife disagreed. She told me since we’re successful with rentals, we should just stick to what we know. She’s smart and I love her.
Justin, that is a classic example of the wisdom of “Happy wife…Happy Life.” :beer
LOL. Hey, I’m from the school of thought that if it’s possible to keep them, I don’t see a reason to sell. In my opinion, this is one thing that it’s better to have than have not.
Congratulations on your successful investing and I wish you many more years of prosperity!
P.s. I don’t doubt that your wife is smart, but remember that a smart woman doesn’t stay with a foolish/stupid man. So, complimenting her, is also complimenting yourself. I’m just saying. LOL