Whether you’re just starting out in the real estate investing game or you’ve been doing it for years, it’s always a good idea to pick up a solid book here or there to stay current, keep motivated and ensure you’re on the right track. Presenting: the best real estate finance books in the market right now. The following is a list of the top 5, but if I’ve missed any, drop them in the comments below. I’m always looking for a good read.
1. The Mortgage Code by Angela Calla
The Mortgage Code by Angela Callaway is one of the top-rated real estate finance books on Amazon. And it’s no surprise why. Callaway views mortgages as products that need to fit YOUR lifestyle and financial goals rather than as a product for which you are simply shopping for the lowest price. Her book aims to boost readers’ financial IQ and introduces what she calls “proactive mortgage management” to share all the information needed to be intelligent, prepared, and involved before borrowing.
Furthermore, Callaway deconstructs myths and misconceptions in a no-nonsense manner to share all the information that banks don’t usually share with their clients (Callaway is one of the top Canadian mortgage professionals, so if anyone has the inside scoop, she would!). She also outlines borrower’s responsibilities, explains what it means to get a mortgage in a changing market, and more.
Whether you’re buying your first home, downsizing, looking to move up the property ladder, refinancing, renewing – or especially if you’re building your real estate portfolio – this book can help you understand the mortgage process, save you money, and make the right mortgage decisions, so you’re not looking at your mortgage terms years later wondering – how did I miss that?! (True story: this happened to me unfortunately!)
2. The Wealthy Renter by Alex Avery
There’s no doubt about it: Home ownership has been touted as the “next big step” in a person’s life, shortly after graduating, getting a job, and getting married. Nine out of 10 people have likely heard the phrase, “Why rent when you can buy?” Everyone touts home ownership as a safe, attractive, and sure-fire path to personal wealth.
This real estate finance book forces readers to look at home ownership from a different angle. It’s main premise: one-size-fits-all advice in today’s real estate market is unrealistic.
Faced with climbing house prices and low interest rates (compared to what they once were a couple decades ago), Avery encourages readers to consider all angles of their situation and consider the benefits of renting before jumping into home ownership.
Alex Avery is a real estate analyst and shows how renting can sometimes be a simple, more affordable way to live in a volatile market.
Whether you’re looking to build your real estate portfolio and generate cash flow by offering spaces to rent, or are reconsidering your current financial position, Avery’s book is a must-read. And for those who are looking for some new ideas on wealth-building, Avery shows those who do choose to rent how to replace their bricks-and-mortar home-ownership investments into other opportunities.
3. Stop Over-Thinking Your Money by Preet Banerjee
Stop Over-Thinking Your Money is a light and simple read that goes over the main tips to get you financially fit. In fact, Banerjee compares financial fitness very much to physical fitness. The premise of his book is that, like physical fitness, there is no secret formula to becoming financially healthy. In order to become physically fit, we know we need to eat healthier and exercise more, but it’s hard to simply do the work. Banerjee does not introduce any earth-shattering concepts in his book, but he reminds readers how important the ABCs of finance are (such as develop a savings account, get life insurance, etc.) and uses his casual and friendly writing to encourage every reader to become financially fit.
4. Along for the Ride by Owen Bigland
Along for the Ride is a book focused on reaching financial independence. It explains how get-rich-quick schemes do not work, and instead provides honest, actionable advice on how to become financially independent.
Readers will delight in Bigland’s simple, straightforward blueprint for real estate and stock investing in order to create a reliable stream of passive income.
If you’re like me, books like those by Banerjee and Bigland are refreshing reminders to keep at it when it comes to wealth building and financial fitness. If you’re looking for something quick and light, I’d suggest picking this one up for some motivation.
5. More Than Cashflow by Julie Broad
If you’re like me and spend a decent amount of time on social (okay, fine, I’ll be honest – I spend an indecent amount of time on social – like way too much!), then you have likely seen ads along the following lines:
- Invest in real estate using NONE of your own money or credit!
- Earn $10,000 a month in passive income within one year!
Anyone with a little bit of common sense will know that these statements are just too good to be true. Real estate investing is not about easy or fast money, unfortunately, and there are no cookie-cutter solutions that will work for every single person those ads attract. So, what is important for you and what do YOU need to know?
Broad’s book takes a step back and asks some key questions for budding and experienced real estate investors alike:
- Should you become a full-time real estate investor, or just find a new job?
- What is at stake when you choose to invest? Who are you going to work with? What strategies are you going to chose? These are key questions that many people don’t consider, often resulting in unnecessary strain on personal relationships
- How are you going to fund your deals (without asking your loved ones for money!)
If you’ve ever wondered what’s up with those ads on social media about real estate investing being the best thing since sliced bread, check this book out.
Do you have a favourite real estate finance book or one that’s helped you along your real estate investing journey? Have you read any of the books mentioned above? Be sure to share your thoughts and feedback in the comments below.