Has anyone read any good books on real estate investing? I listen to bigger pockets and read some forums but it would be nice to read something to build on my foundation.
Deleted - didn’t read the word “real estate” and wrote a list of general investing books.
What type of real estate?
Residential, both long term and flips.
My man card is at risk here but do you watch HGTV? My wife has it on constantly and it seems like a good place to get a ‘sense’ of what it’s like to flip a house.
Buy house, highly leveraged.
Hire contractors.
PROFIT!
ive seen a few episodes of HGTV but im looking for info more related to how to raise capital (i.e outside investors, self directed ira, ect). Valuation would be helpful too if anyone has a connection to argus
Meant more of suprises in the walls - literally
To my knowledge Argus isn’t useful for single homes. It’s certainly not used much in multifamily. It’s also an unnecessary expense.
I don’t know of any books on house flipping, but you should definitely partner with a very experienced contractor who knows how much things will/should cost. Unexpected surprises can ruin a project.
You’re def right. Quite a few of the jobs ive come across have knowledge of argus as preferred so that is where this comes to play. You know of any place i could get a base training?
Sorry I guess I read the thread wrong.
You can take a 2 day ARGUS course for about $1000 that gives you a certification. Alternatively you might be able to take it through a MRED or MBA program at a local university. You’d need to contact a professor in the program and ask if they had a class scheduled and if there were extra seats available. That would be the cheapest way.
If you’re looking at firms that use argus, you’re probably going to want to focus your learning on office and industrial properties, and their unique lease structures as that will drive a lot of the cash flow and opportunity. In comparison, hotel and multifamily are relatively simple in my opinion.
This a decent book with some case studies. It isn’t a textbook, but has some useful info.
Rich dad, poor dad… j/k!
Via IRA is a bit dicey - you’ve to avoid self dealing and also spend money on property from the IRA. And you lose the yearly depreciation (but if you make a profit at the end, it’s a wash if you discount TVM.)
Thanks Stratman, i’m going to check that book out. Naren - you’re spot on. I was at a convention when one guy was discussing the basics of such a strategy, the nuances are what really brought on my interests.