Buy A Property Investing Book (Day 12) – 30 Day Property Journey
Buying a property investing book can give you as much information as a $5,000 seminar for just $30. It can be one of the best things you do to advance your investing career.
Welcome to the 30-day property journey. Over the next 30 days I’m going to take you through a bunch of different activities that you can do in order to become a more confident and successful investor.
In this activity we’ll look at buying books that discuss investing in property.
Why a book?
Of all things, especially in this day and age when so much information is available online?
Why go out and purchase a book?
A Full View Of A Specific Strategy
The number one reason I recommend purchasing a book is that it is going to give you a full view on a particular investment strategy or on one particular investor. When you are reading blog posts or listening to podcast episodes, generally it is very sporadic.
I know that I do daily podcast episodes with my blog and currently I’m doing this 30-day property journey, but often my content can be sporadic depending on what I’m covering or who I am interviewing.
So by going online listening to a podcast, reading blog posts and stuff like that you are not really going to get a start to finish idea of one particular investment strategy. However, a book is almost always going to give you that.
All The Information You Need For A Good Price
Another reason I recommend reading a property book is that you generally get all of the information that’s would be contained in a three-day seminar or an online course for much much cheaper.
If you were to go to a three-day seminar with Steve McKnight (who is one of my favourite property authors) that would probably cost you about $3,000 to $6,000. Coaching programs cost you even more from $5,000 to $10,000 or maybe even more.
But when you purchase a book and get it for around $30, you can actually get almost all of the information that you are going to get in one in those seminars.
They talk to through step-by-step about what the different strategies are. They also talk you through different examples and everything is in there. The good thing about a book too is you can go back and reference the information at a later date.
I do want to put a suggestion out there just to be careful that when you are reading a property book. Don’t automatically decide that it is going to be your end-all solution to investing.
The thing with property books is that they can be so convincing because the investor who has written the property book has generally achieved some level of success in their own life and they try to teach you how to do the same thing.
Obviously you’re going to begin to think that this is the exact success that you want in your life because truthfully their lives are pretty good. They are very successful and that is why they’ve written a book on it but their path won’t necessarily be your path.
So just read the book with that in mind so you don’t get too swept up in that particular investment strategy. My favorite book is Steve McKnight’s book From 0 to 130 Properties In 3.5 Years.
One hundred and thirty properties in 3½ years. How many of us are actually going to achieve that? Very few people would be able to achieve that goal!
However, you can learn a lot when you read the book. When you are reading it just be careful that you don’t automatically decide implement the strategy into your own life and have the expectation that you are going to achieve exactly the same thing as the investment author.
Just take it as a way to learn about different investment strategies and to become better. Don’t necessarily take it as the law as to how you should invest.
My Book Recommendations
If you want to see my list of 30 different property books that I recommend you can go to our list of The 30 Best Property Investment Books. For your convenience I am just going mention three books here.
#1 From 0 to 130 Properties In 3.5 Years by Steve McKnight
This is the book that first got me on to positive cash flow property. I always knew I wanted to invest in property but I read this book when I was 16 and it just changed my world.
This book detailed Steve and his business partners’ journey to purchase 130 properties. They show you examples and also talk about the theory behind it. I think it’s a really good book for beginners. It’s also a really good book if you haven’t read an investment property book before because it’s informative, it’s educational but it’s inspirational as well.
#2 The Cash Flow Quadrant by Robert Kiyosaki
You might have read his other book Rich Dad Poor Dad, or heard of it, and that is a great book that I recommend as well. The Cash Flow Quadrant really goes through and talks about four different ways of earning income:
- Working a job (E Quadrant)
- Owning a small business (S Quadrant)
- Owning a large business (B Quadrant)
- Investing (I Quadrant)
It is really going to show you that there are different ways that you can invest and earn money, and it’s will help to expand your horizons. This is one of my highest recommended books and I absolutely love it.
#3 How To Create An Income For Life by Margaret Lomas
In this book she talks through different investment strategies like investing in positively-geared properties and how you can actually invest in property in a way that’s going to generate a passive income that will last you a lifetime.
The book is filled with educational content. It also lays out a really basic way that you can understand how to buy property in such a way that you are going to generate a passive income.
As I said before it’s like an entire seminar in a book for just $30. So it is a $3,000 value for only $30.
If you are worried about spending $30 don’t be. It’s going to be a huge investment in yourself. I think it was Warren Buffett, who is very a very famous investor, who said:
the best investment you can make is an investment into yourself.
So invest in your education. Go out there and purchase a property book and then read it. Don’t just purchase it and let it sit on a shelf and gather dust. Read it as well.
Until tomorrow stay positive.