While going through my bookshelf and de-cluttering, organizing and purging a few things here and there, I noticed just how many "Rich Dad" books I've read. It made me think. I went through all the miscellaneous real estate books I've read over the past few years and tried coming up with the most influential books - the ones that have really made an impact on me and my own personal philosophies on real estate investing. The top four books were all Rich Dad books. Not that they are the best books ever written, but the authors (Robert has a fantastic approach to co-author all of his best-sellers) have a specific style and format to writing that is easily understood, with maximum impact. If you're just starting to think about getting into the real estate market as an investor, I highly recommend you read these cover to cover, in this particular order.
1. Rich Dad Poor Dad - Robert Kiyosaki with Sharon Lechter CPA
This book is the foundation of all the principals outlined in every book in the Rich Dad series. It is a very straightforward read and describes differing views on money from Robert's two different father figures growing up. Within this book, you'll begin to understand how you can buy assets that create consistent and steady cash flow, setting yourself up for future wealth. This book will help you understand good debt versus bad debt, and assets versus liabilities in a very different perspective. Buy it here
2. Rich Dad's ABC's of Real Estate Investing - By Ken McElroy
Ken McElroy is a Rich Dad advisor and very prominent real estate investor, property manager, developer and entreprenuer. In the ABC's of Real Estate Investing, Ken walks you through all the basics from understanding expenses and cash flow, choosing properties carefully, property management dilemmas, and much, much more. There are several excellent examples of different scenarios and plenty of useful resources within. Buy it here
3. Rich Dad's Advanced Guide to Real Estate Investing - By Ken McElroy
Ken takes it to the next level in the Advanced Guide to Real Estate Investing. Here, Ken moves from investing in small single family homes, to multi-family investing concepts. Ken digs deep into advanced valuation principles, strategies for increasing cash flows and how to structure the deal for maximum profitability with limited financial risk. This book is not for beginners, but it is an excellent resource when understanding where your real estate investing journey is heading. The concepts within will work whether you're buying a $89,000 condo or a multi-million dollar apartment building. Buy it here
4. Rich Dad's Real Estate Advantages - By Sharon Lechter and Garrett Sutton
A real estate investing business is only as successful as its behind the scenes business practices. If you aren't tracking and understanding your finances, you're basically dead in the water. This book helps to explain how real estate investors can acheive maximum return on investment by understanding tax advantages allowed only to them. Also, this book dives deep into business structure and organization, accounting and legal advice to understand before you get started. Risk and liability are always present in the world of real estate investing, and this book will help minimize your exposure to both. Buy it here
After reading all of these you'll begin to notice a common theme: to be successful as a real estate investor (and entreprenuer for that matter) you'll need to change the way you think about debt, assets and liabilities, you'll need to build a team of people who can take you to the next level, and you've got to become financially literate to understand exactly how you're going to get there. Application and execution is up to you. I'm fully available to help you understand your next steps and how to get you down the path to financial freedom through real estate investing.