I’ve been reading a lot lately and thought I’d share with you my top 5 property investment books. I think these are great if you’re new to property but even for the more experienced investor, you’re sure to learn something. You’ll often find some of the more popular property training seminars or DVD training packs are very costly, sometimes in excess of a few thousand! And whilst you’re obviously going to learn a lot from these, I often think simple property investment books can provide just as much knowledge at a fraction of the cost – so I’d recommend starting here…
This was the first property investment books that I read (mainly because it was given out free at a Progressive Property seminar!). I’m glad I did though. There are lots of tips and tricks to help you become a more savvy property investor and even those of you have been investing for years are sure to learn something. It’s written in a light hearted style with plenty of case studies and real life examples you can relate to. I gave this book to my Step Mum and now, 4 months later, she’s buying her 2nd buy to let property so it’s safe to say it’s a very motivational read!
This one’s been a popular read globally for a number of years and whilst it doesn’t focus wholly on property investment it still makes the top 5! Despite being written almost in a fictional style and feeling like story book, it really hammers home the importance of investing. It makes you question the financial decisions you make and encourages you to think outside of the box to increase your passive income. For those new to property who may be struggling to save that first deposit, I can imagine this book would speed things up.
Again, this one isn’t solely about property investment but a lot of the principles and techniques can be related to property. Much of the book focuses on ways of freeing up your time, automating mundane tasks and systemising everything. For anybody who has more than a few properties they’ll understand what a drain on time they can be if not managed well. This book certainly challenges the way you manage your time and makes you realise you can probably be making better use of it.
The fact that it was about tax made me a little skeptical and I thought it would be a bit of a chore to read. However, once I started, I was actually quite gripped! I think it’s a must read for any property investor and a good reference to look back on when it comes to doing your tax return. There are loads of tips on legally avoiding property taxes that can save you thousands, as well advice on financial planning for later life such as gifting property and ways to avoid inheritance tax. Even if you have an accountant that handles your taxes, I’d still recommend this book, not all accountants are well versed in property taxes and spending a few hours reading this could identify missed opportunities that could save you money.
As with a lot of things in life, it’s not always what you know, but who you know. As a newbie to property investment you’ll probably find yourself without any contacts at the start and wonder how all the other investors in the area get the best deals! As time goes on and you make contacts and build relationships with the likes of estate agents and deal scourers, it will get easier. In preparation for this though, I would highly recommend this book. It’s a long read but does have a wealth of tried and tested advice on persuading, influencing, enthusing and communicating with others – all of which are invaluable when trying to forge strong relationships with those that can get you the best property deals!
That should give you enough bed time reading for now! If you have any suggestions of your own for property investment books that have helped you, please share in the comments or contact us.