Top 5 Property Investment Books
Becoming a property investor isn’t always a bed of roses. If you ask anyone who has done it successfully, they will all say they’ve invested a great deal of time and energy into learning, researching and continually updating their knowledge on market trends. They’ve made it a focus and have come out on top. A great way to learn from others is through reading books from those who have gone before you and made all the mistakes, hopefully so you can save yourself from making the same ones. Here are some of the most recommended property investment books to add to your reading list.
1. 0-130 Property in 3.5 Years by Steve McKnight
This is a great book to start with if you’re looking to invest in positive cashflow properties. Steve McKnight is a regular Joe who hated his job as an Accountant and wanted to find a way to provide a passive income for himself and his family. He teamed up with his then boss Dave and started acquiring positive cashflow properties. Within 3.5 years they had 130 between them and both had stopped working to manage their property business full time. It’s jam packed with practical tips and comes highly recommended.
2. Cashflow Quadrant by Robert Kiyosaki
This book will teach you how to manage money properly and how it can work for you. It will also educate you on the four ways people can make money - employment, self employment, business and investments. It also highlights the importance of setting financial goals and consistent action towards achieving them.
3. How To Create an Income For Life by Margaret Lomas
If you haven’t availed yourself of one of the many books Margaret Lomas has written, now is the time. This book in particular is a great starting point as it provides an array of practical tips to investing in positive cashflow property and steps you through many pertinent topics such as borrowing and how to research the market.
4. How to Buy a House for $1 by Rick Otton
In this book, Rick Otton steps you through his process of purchasing property without a deposit or bank loan. Impossible you might think? Well, this book is full of case studies where Rick proves it can be done, if you’re willing to step outside the square that is. He also teaches you gems such as how to turn a negatively geared property into positive cashflow and how to locate positive cashflow properties, even in capital cities. A good choice if you’re serious about investing.
5. How to Buy Property with your Super Money by Tony Melvin and Ed Chan
This book will teach you the things you never learnt at school such as the joys of Self-managed Superannuation Funds, how to set up your own fund and invest the money so you can pay yourself a pension in retirement. Excellent information to have under your belt if you’re using property as a vehicle to early retirement. The book is written in simple, everyday language and simplifies even some of the most complex of concepts. Well worth a read.
As Garrison Keillor famously said, ‘A book is a gift you can open again and again’, and within the above books is a fountain of knowledge which you can use again and again to build your wealth. Go forth and conquer!