Hello. Are there any books that are an absolute must read before I buy my first home? Eventually, I would like to start investing via lease purchase. Other than joining my local REI club, are there any books/programs that you would recommend? I found a lease purchase educational program that comes on several CD’s for $350. Does this sound about right? Thank you.
I just read “The Unofficial Guide to Real Estate investing”. Overall, I found it good.
Like most books, they are written from the author’s perspective. So, if you read many, you will get conflicting advice on some areas.
For example, I read one book where the author was from Ohio. He could not understand why anyone would buy a home with less than 20% down or try all sorts of financing creativity. The author lives in a bubble where all homes cost $15-50k I guess. Perhaps if he lived on the west coast where the same homes were $300k-$800k, he would think differently.
The point is, be careful what you absorb. There are important points and then there are “opinions”, which are normally based on the author’s own experience, which should be taken with a little fanfare.
Another example is when an author says to “never” invest out of your area. Never? Pretty strong words. Perhaps the author made some bad moves or never has and therefore, you should never do it.
As far as price goes, I will never pay more than $75ish for information on how to do something. I have read 8 books in the past two weeks and most of the information crosses over. Read a couple books in the $20-$40 range and the posts here and you will be on your way. Save your money for property.
“How to be a Quick Turn Real Estate Millionare”, Ron Legrand. This is the book that inspired me to start my REI business. It scratches the surface on wholesaleing, retail, flip, short sales, how to find motivated sellers, and just about every aspect of rei. It does not go into great detail of course, but it is a GREAT start. Hope this helps and good luck!
Hey Bluestar…
You haven’t forgot about me have ya…lol…
JC.
My Book!!! Sorry I didnit say that out loud did I! oops !
Rei,
If you have a book…I’ll get it now… 30 and where I want to be… But hey there will always be deals so my time is definately coming… but if your book will help…why not…loll
JC
Sorry…meant REO…