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Some books change your life, some books bore you to death. So, lets hear your top 3 best or top 3 worst books for property investors (that are related to property investment). Please put a reason why it's a must read or must avoid.
I've read dozens of investment/property investment/building/self help etc etc type books, but only 1 or 2, really resonated with ME.
For me it's simply:
1. Rich Dad Poor Dad. Original version. Simplistic messages (suitable for me) on understanding assetts and liabilites and what the rat race is and why people (me at time) are caught in it. This book switched a light on in my head and filled the nagging hole I'd always had missing. Changed my Life. Period. Read this book 6 years ago, left day job 2 years ago. That's powerful.
2. Richest man in Babylon. Only read this recently, and after 5 years of looking at all the dream chasing schemes made me feel comfortable with my decision to follow a good old fashioned BTL/BTS put in deposit strategy as I fully believe in your investment working, the children of your investment working, the children of your childrens investment working etc etc. Again, simplistic and brilliant.
3 EMyth. Again, loved the simple story telling to get points across. How to systemise and procedurise a business without boring the arse off you.
Quite liked the classic Napoleon Hills "Think and Grow Rich", but was a bit long winded for me and took and age for me to finish.
Ajay Ajuh's BTL Bible was a book I bought early doors and greatly admired. What a crock of shi*e that now reads with 5 years experience.
So maybe lets end up with a top 5 or 10 must read, and a top 5 or 10 must avoid. Can only help us all and any newbies.
hi paul, ive read them all as well but dont underestimate the influence even the shit ones had on you , ie the buy to let bible , its easy to say in hindsight that you cant believe you fell for all that shit, but if it made you give yourself the kick up the arse you needed at the time then its priceless IMO
1) Real Estate Riches - Dolf de Roos was my light switch moment
2) Rich dad poor dad - The first few chapters were great ( cant remember ever finishing it though) and has lead to many an argment with my mum and peers about the education system. We are indoctrinated in this society to think that we should go to school, university and then get a job 9-5 for 45years. Madness. What I cant get if that even if we did all have to work in a job, who on earth invented this 5 days on 2 days off system!!. If the world moved to a 3 day week then we would all enjoy life more. Ok the latest gadget would take a few hundred years longer to invent but so what. a lot of what we call progress is not progress in my eyes. The human race will still be around in 5000 years so whats the rush - chill and enjoy your 100years on the planet!
3) Money for Nothing and your property for Free - Andy Shaw - He waffles on and on and on like me but it really shows what energy and application can achieve when you put your mind to it - albeit as we know he went far too fast too soon in the chase for the big kill. lessons to be learnt at the time he wrote it and a different type of lesson to be learnt now on reflection.
4) The Beermat Entrepreneur - How a simple chat in the pub idea can lead to a towering mature oak tree business
5) PT`s Angela Bryant`s Book - I`m sure its brilliaint and its next on my list to read - promise :-)
6) Jonathan Clarke`s Book - a masterpiece of its time - 1st page done- anticipated publish date - erm 2020 ish
Jonathan Clarke. http://www.buytoletmk.com
(29-05-2011 07:53 AM)Jonathan Clarke Wrote: Jonathan Clarke`s Book - a masterpiece of its time - 1st page done- anticipated publish date - erm 2020 ish
Wise words Thomas, I read all 21 Enid Blyton's Famous Five books as a kid - loved them. If I went back and looked at them now I'd probably feel like Paul does about the BTL Bible. But as you say, that's not the point. Both were of their time and served their purpose.thomas gallagher said:hi paul, ive read them all as well but dont underestimate the influence even the shit ones had on you , ie the buy to let bible , its easy to say in hindsight that you cant believe you fell for all that shit, but if it made you give yourself the kick up the arse you needed at the time then its priceless IMO
RDPD & Dolf De Roos books were both great books. RDPD more about a different way of looking at things, and helped me to demonstrate to Mrs Fay that property investing wasn't a load of cobblers! Dolf's book just lays out how to build a successful portfolio - plain English (or is that 'Plain Kiwi'?!).
I had a year in Australia in 2005, & the Aussies are also property nuts, just like Brits. Several Aussie property books I liked were:
"How to Build a $10m Property Portfolio in Just 10 Years" (Peter Spann)
Nice easy-to-read style, covers leverage/researching price/ renovations/etc but in a 'story-like' way, following Peter & his 'wealthy friend' (a 'Rich Dad rip-off', but who cares) as they build his portfolio. Lots of 'Lessons Learned' boxes, & 'Miestone Markers'. I remember there was one chapter called 'The most important person in the (lending) world' (the surveyor) - pure gold in how to manage surveyors.
Building Wealth - Story by Story (Jan Somers)
100 stories about property investors, including:
Follow your dream
Good debt / bad debt
Spend to make money
Education after school
Reasons to sell
Don't lose the lot
These are 1-2 page stories to illustrate each point in the chapter - if you ignore all the Aussie references, it's useful to read real-life examples, stories with happy & not so happy endings, different strategies & ways of looking at things.
0-130 Properties in 3.5 Years (Steve McNight)
Written by an accountant! An interesting book in that unlike many Aussies, positive cashflow is Steve's mantra (in Oz, rental losses can be offset against other income, unlike the UK). Some amusing stories about Steve playing the big shot, buying properties in the sticks that won't rent, & generally making lots of mistakes. (He gets it right eventually!)
If anyone wants to borrow these, just PM me as I'm not sure if these are available in the UK.
Stephen Fay ACA
The Property Investor's Accountant
the fourhourworkweek by Tim Ferris, The richest man in Babylon, and the tale of Ginger and Pickles by Beatrix Potter
Rich Dad poor dad is next so 4 in total for me, these would be the publications i would hope my little one will read and understand as and when appropriate
Andy Shaws book, so poor i did not actually finish it,
my choices are not property focussed but more geared to business and how to prosper
for me, the best the fourhourworkweek by Tim Ferris, The richest man in Babylon, and the tale of Ginger and Pickles by Beatrix Potter Rich Dad poor dad is next so 4 in total for me, these would be the publications i would hope my little one will read and understand as and when appropriate the worst Andy Shaws book, so poor i did not actually finish it, my choices are not property focussed but more geared to business and how to prosper Rik