There are a lot of property investment books out there full of advice.
It can be tough cutting through the clutter to find the property investment strategies and tips that are truly worthwhile – and will help you build financial freedom through real estate.
Note: The problem is some books on property investment are good, some are outdated, many give advice that doesn’t work for property investment in Australia, and some give downright bad advice.
So today I’d like to share 10 property investment books that have helped me in my journey, starting out as a novice investor to becoming one of the directors of Metropole – Australia’s most trusted firm of property strategists.
I have been lucky to have been mentored by Michael Yardney, Australia’s leading expert in wealth creation through the property so don’t be surprised if his books feature highly in this list.
And yes, I’m now his business partner, and some may say I’m biased, but as I compiled this list of “must-read” books on real estate investing there was no way his books couldn’t make it on this list.
So whether you are a beginner or an already experienced property investor, these books are a great way to learn.
Let’s get to it…
1. How To Grow A Multi-Million Dollar Property Portfolio
There is now a new fully updated 16th Anniversary edition of this book which has become a property investment classic and is on the bookshelf of almost every successful Australian property investor.
It has been written for both beginning and experienced investors and the results have been proven by tens of thousands of Australians who have used the strategies laid out in earlier editions to grow their own Multi-Million-Dollar Property Portfolios.
Since its first publication in March 2006 How to Grow A Multi-Million Dollar Property Portfolio- in your spare time has become an Australian investment classic and #1 bestseller.
But times have changed, and strategic property investors will adapt, so this 16th anniversary has been fully updated taking into account the current economic and financial climate and is a must-read for all Australians keen to develop financial independence through property investment.
Sadly, despite there being just over two million property investors in Australia, 92% never get past their second property since they don’t use a proven system.
This book lays out the time-proven system used by strategic investors who’ve succeeded.
It is a plain English guide from an “insider” with powerful new updated strategies that could make you seriously rich.
Put simply… you’ll be shown How to Grow a Multi-Million Dollar Property Portfolio – in your spare time.
Now boasting a number of new chapters, many updated sections, and up-to-date statistics mean that the latest edition of this property investment classic book will be a valuable resource for both beginner and experienced property investors for the foreseeable future.
2. Rich Dad Poor Dad: What The Rich Teach Their Kids About Money
While this is not really a property book, and although it was first published more than 20 years ago, its insights stand the test of time.
Robert T. Kiyosaki also offers personal finance advice and breaks down money misconceptions across a broad spectrum.
His story is of growing up with two dads – his real father and the father of his best friend, his rich dad – and the ways in which both men shaped his thoughts about money and investing.
The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you.
However, be careful – some of Kiyosaki’s property strategies don’t translate well to Australia where the rules are different to the USA, because in Australia investing for capital growth is the way to go.
3. Michael Yardney’s Rules of Property
Fortunes will be made as Australia’s property markets move into the next cycle, and the divide between the rich and the average Australian is only going to widen.
Yet Australia is the land of opportunity and becoming wealthy does not have to be a dream.
So how do the wealthy get rich?
It’s not luck and it’s not that they had a better education or rich parents.
According to the author, Michael Yardney, for many, it’s because they know The Rules of Property.
And that’s what he lays out in bestselling this book.
4. Rich Habits, Poor Habits
Rich people think a certain way and poor people think a completely different way, and those ways of thinking determine their actions and therefore determine their results.
Then all you have to do is copy how rich people think.
Just studying the Rich and copying their Rich Habits is the advice of the two authors Tom Corley and Michael Yardney.
They explain that we are where we are because of the things we do day in, and day out.
Our old ways of thinking and our old habits brought us exactly to where we are and if we want something to be different in our lives, we need to do something different.
This book debunks the myths and “common wisdom” about how to get rich.
Read it to unlock the secrets to success and failure, based on Tom Corley’s five years study of the daily activities of 233 rich people and 128 poor people as the authors expose the immense difference between the habits of the rich and the poor.
Since the release of Rich Habits Poor Habits in 2016, Michael Yardney and Tom Corley have gone on to share the mindset secrets of the rich and successful to new and bigger audiences and this book has become an international bestseller and is being translated into 5 foreign languages.
5. Investopoly: The 8 Golden Rules for Mastering the Game of Building Wealth
Winning at Monopoly requires having a little bit of luck, making the most of your luck, and applying certain rules – such as buying as much property as possible, not spending all your cash (having some savings), and negotiating to get a full set of properties as soon as you can.
Author Stuart Wemyss says building wealth is no different.
You can win at the game of building personal wealth by applying a set of proven rules: the 8 Golden Rules.
In Investopoly, Stuart explains the rules he has formulated and refined over two decades of practice, observation, and experience.
They are not just theory, they are rooted in simple maths, academic studies, and/or common sense.
They are tested and have been proven to work.
They are the rules of the investment game.
6. Michael Yardney’s Guide to Investing Successfully
Michael Yardney’s Guide to Investing Successfully is for anyone who wants to secure their financial future but is confused about all the contradictory advice out there.
It is a practical guide to growing your money the smart way by understanding what the rich invest in that the average person does not.
Readers will learn the essential skills of investment as well as become financially fluent by understanding the language of money, finance, shares, and property.
Michael Yardney shows you how to take control of your finances and achieve financial freedom by getting your money working for you in this easy-to-understand practical guide that covers the psychology and mindset of successful investing together with sound strategies for the stock market and real estate investing
7. Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth
In this book, T. Harv Eker, the author, teaches us that if your subconscious “financial blueprint” is not set for success, nothing you learn, nothing you know, and nothing you do will make much of a difference.
Eker explains:
“Eventually, I became aware of how my own thoughts were holding me back from wealth.”
He learned that it is not about the tools alone, it is mainly about the toolbox.
The tools are all the knowledge and information you’ve got, and the toolbox is your mind, your way of thinking.
He found out that when he combined the inner game (the toolbox) with the outer game (the tools), everybody can succeed at the game of money.
His lesson is simple: If you want to move to a higher level of life, you have to be willing to let go of some of your old ways of thinking and adopt new ones.
8. Negotiate Influence Persuade
This book is much more than a book about how to negotiate real estate deals, even though there are a number of chapters correctly discussing this.
Success in life depends on your ability to influence.
While plenty of books teach sales and negotiation techniques, this one explains the fundamentals and the psychology behind why these techniques work and how to use them most effectively.
It’s more than just a book about negotiation.
It’s about persuasion and influence, and more importantly, how to wield those two important traits to meet your goals.
It will change how readers will do business, how they will interact with their family and friends, and hopefully give them a greater understanding of why people behave and are motivated to act, the way they do.
Read this book and learn how to get other people to want to do what you want them to do because of your ability to interact, communicate, negotiate, influence, and persuade.
In every transaction there is a buyer and a seller: they either buy what you’re saying, or you buy what they’re saying.
But this book is not just for salespeople, it’s also for you as a consumer because we all negotiate every day of our lives.
Not just in business but in day-to-day life with your spouse, your children, your work colleagues, your customers, or your clients.
9.
Doing well with money isn’t necessarily about what you know according to author Morgan Housel.
He says it’s about how you behave.
And behaviour is hard to teach, even to really smart people.
Money–investing, personal finance, and business decisions–is typically taught as a math-based field, where data and formulas tell us exactly what to do.
But in the real world people don’t make financial decisions on a spreadsheet.
They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together.
In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important topics.
10. What every property investor needs to know about finance, tax, and the law
This book is a must for all property investors – both beginners and experienced investors – because it’s not how much money you make that matters, it’s how hard your money works for you and how much you keep that counts
Michael Yarndey’s “plain English” guide to financial freedom reveals how some people work less, earn more, pay less in taxes, and are more financially secure than others.
Most property investors never achieve financial independence, because they don’t understand how to use “the system”, but this book is designed to help you treat your property investments as a business and take advantage of “the system” rather than having it work against you.
How many of these books do you have in your success library?
Which other books would you recommend I add to this list?
Please leave your comments below.
