Many new or inexperienced property investors find themselves with a number of people in their ears trying to help them out. Most veteran investors love nothing more than giving novices their two cents about where and what type of property to buy. For the newbie investor, it can difficult to sort through all the opinions, separate the good advice from the bad, and string all the tidbits of wisdom together into a coherrent strategy.
With this in mind, we recommend that prospective property investors swing by the library or bookstore and do some research. While the market is inundated with publications, magazines and books about how to make the most out of a rental property, there are some select releases we especially recommend.
"How to Make Money in Real Estate in the New Economy" by Matthew Martinez
With many property investors, managers and other real estate professionals praising Martinez's book for its detailed picture of today's residential and commercial market, first-time investors may find numerous answers as to how to approach their search for the right residence.
In the book, Martinez discusses a variety of topics related to investment practices, including understanding the effects the housing crisis had on the real estate market and new lending guidelines.
Martinez has years of experience working in the real estate investment business, and this is his second book on the subject. Additionally, he is the founder of an investment and management firm. So, those who want to pick the brain of one of the industry's most knowledgeable investors may not find a better resource than Martinez's book.
"Buy It, Rent It, Profit!: Make Money as a Landlord in Any Real Estate Market" by Bryan M. Chavis
Regardless of the current economic climate, Chavis states in his book that real estate investors can make a sizable profit. The author provides readers with an analytical glimpse into the world of investing.
While much of the book is devoted to managing tenants and properties, Chavis delves into best investment practices as well. He offers tips regarding finding desirable properties, hiring property lawyers and understanding the documentation associated with an investment.
"The Real Estate Investor's Handbook: The Complete Guide for the Individual Investor" by Steven D. Fisher
Though the title suggests the book is only for new investors, Fisher's publication can help many in the real estate industry, including seasoned investors.
Fisher suggests investors take the safe and secure route when investing in properties. By utilizing his method, Fisher states investors can fully grasp the ins and outs of investing---from finding affordable residences in any market to negotiating a price.
"Real Estate: The Sustainable Investment: Strategies for the Next Generation" by Glen Sweeney and John Gordon
In Sweeney's and Gordon's book, first-time investors can get an effective understanding of how to go through the complete investment process. Not only does Sweeney take readers through the beginning of an investment period---finding properties, obtaining financing and making offers---but also delves into the deeper aspects of investing, such as timing and creating property analysis spreadsheets. The authors have decades of experience in the field, which may indicate reason enough to pay attention to their years of wisdom taking part in and observing investments.
"The Real Estate Game: The Intelligent Guide to Decisionmaking and Investment" by William J. Poorvu and Jeffrey L. Cruikshank
While the aforementioned piece of literature focus on the details of making wise investments and understanding the process, Poorvu and Cruikshank discuss more the "rules of the game," so to speak.
The authors paint a comprehensive picture of who is investing in today's market - including moguls, developers and investors - and how their investment decisions impact the overall real estate sector.
Readers of this book will likely find numerous details of interest, as they can considerably assist them in their own investment opportunities, as well as teach them about how the investment business functions on a larger scale.
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