I get asked a lot “what are your favorite books about real estate investing”. I tend to steer away from “how to” guides and much prefer the storytelling side especially biographies. Autobiographies are also a great way to peer into a mogul’s inner workings but be aware they are often self-serving. Most books I read aren’t related to real estate. They’re more related to general business, philosophy and self-improvement. But to someone who is insistent on reading real estate related books, there is an ocean of literature out there. I have read most of them and here are not just my favorites, but also the ones that I think could be most helpful to an aspiring real estate magnate:
Crushing It in Apartments and Commercial Real Estate – Brian H Murray
Probably the only nuts and bolts real estate book I actually liked. But it’s filled with great stories and very interesting to follow along. What I like most about the book is it goes through real world examples of how commercial real estate investing is in real life. Not spreadsheets and wining and dining investors like some people think, but rather hoarder tenants, unreasonable banks and a host of other issues that you wouldn’t be able to conceive without actually doing a deal. Especially good read for the newer investor.
https://www.amazon.com/Crushing-Apartments-Commercial-Real-Estate/dp/0998381624/
Real Estate Titans – Erez Cohen
Fantastic compilation of interviews with true legends of the industry. A wide variety of great stories about all different types of real estate. My only advice is don’t try and copy and paste this book into your own investing career. Some of the things talked about in the book only make sense at the higher levels these Titans work at. But many of the teachings, especially from mistakes, can be invaluable.
https://www.amazon.com/Real-Estate-Titans-Lessons-Investors/dp/
The Art of the Deal – Donald J. Trump
Regardless of what you think of the man, the Art of the Deal is true classic read with incredible deal making stories from Trump’s development career in the 70’s and 80’s. Again, not replicable for 99.9% of the investing population but the key takeaway is to shift your mindset to always find a way and also to think bigger. We’re all guilt at some point of doing things way below our true potential. As he states in the opening of the book “To me it’s very simple: if you’re going to be thinking anyway, you might as well think big.”
https://www.amazon.com/Trump-Art-Deal-Donald-J/dp/0399594493/
Never Split the Difference – Chris Voss
Negotiating masterclass from a former FBI hostage negotiator. Definitely recommend the audio book version which helps with tonality. I’ve used a number of these methods in negotiating deals whether as an investor or broker. While not real estate specific, the book is really about dealing with people which is about as applicable to real estate as anything else.
https://www.amazon.com/Never-Split-Difference-Negotiating-Depended/dp/1847941494/
Am I Being Too Subtle – Sam Zell
One of my all-time favorite real estate investors, the late, great Sam Zell is a true pragmatist and shares some incredible stories and insight in his memoir. I especially love the creativity and contrarian nature shown throughout his career. A true larger than life character. A key takeaway is there is no one right way to do real estate. You’re only limited by your imagination and no one was better at exemplifying that than Sam Zell.
https://www.amazon.com/Am-Being-Too-Subtle-Straight/dp/1591848237/