Great things come in small packages and the words on the pages of a good book can offer guidance for your Arizona real estate investments. Educating yourself on real estate investing is the key to building the best possible portfolio, and these experts have gained tons of experience that can help guide your way to being successful. Here we’ve gathered our Top 5 Books every Arizona real estate investor should have in their library.
1) No Money Down Strategies
Think it’s impossible to begin building your investment portfolio without cash on hand or traditional financing? The Book on Investing in Real Estate With No (and Low) Money Down (2014), by Brandon Turner, can help you learn how to become an Arizona real estate investor with no money down. He talks about how to find resources for financing when you don’t have ready funds available to invest. Some of these include finding individuals who have the financial backing to partner with you on investments and using hard money loans, or funds secured by your real property.
2) Property Management
As an Arizona real estate investor, managing your own property will require you to wear many hats. Done properly, you’ll have happy tenants and low turnover. In The Book on Managing Rental Properties (2015), Brandon and Heather Turner talk about everything involved in the day-to-day process of property management. They discuss operating under legal guidelines to find tenants as well as how to take the right precautions to make sure you select good tenants in the first place. You’ll also find great information on topics like lease agreements, proper bookkeeping strategies, recording deposits and rent payments, how to handle evictions, cleaning or repairing empty units after a tenant leaves, and more.
3) Analyzing Revenue
As with managing any new profession, there are going to be key words and terms you’ll need to understand as an Arizona real estate investor. For this reason, you’ll want to familiarize yourself with What Every Real Estate Investor Needs to Know About Cash Flow—And 36 Other Key Financial Measures (2015, Updated Edition), by Frank Gallinelli. This book offers a great look at how numbers should factor into your decision of whether to invest in a certain property or not. Some of the questions Gallinelli posits include: “What is the building really worth today?” “How do I calculate my return?” and “What kind of cash flow can I expect?” By understanding the numbers, you are better equipped to make wise investment choices using factual data.
4) Guarding Assets
If you’re seeking the best read to secure yourself against unforeseen problems down the road, you’ll find Loopholes of Real Estate (2013), by Garrett Sutton, a valuable resource. Sutton outlines how being aware of loopholes in both taxes and legal issues can put you in the driver’s seat. Not only will you benefit from knowing how to avoid legal issues, but you can also gain financially through tax loopholes.
5) High-Reaching Investors
If you’re looking to expand your portfolio beyond single-family housing, Multi-Family Millions (2008), by David Lindahl, will provide you with a plan to enter the Arizona multi-family market. You’ll learn about purchasing apartment complexes along with acquiring deals on a larger scale. Additionally, this book covers strategies for moving on from the property in the future.
Knowledge is power. When it comes to bringing returns on your investments, books can be the best investment dollars you’ll ever spend. Why not get ahead of the game by concentrating on subjects pertaining to Arizona real estate investors. You’ll not only save time and money, you’ll avoid the emotional toll large investing mistakes can bring by learning from the errors of the author’s past.
We’re happy to help with the multiple facets of being an Arizona real estate investor! Reach out to Investment Land Alliance here at 480-779-8444 or send our team a message today!