Favorite books on investing

Discussion in 'Men's Economics' started by Brandaddy, Dec 14, 2018.

  1. Brandaddy

    Brandaddy Member

    What is everyones favorite books on investing? I like to read a lot of financial literature, specifically based around real estate investing. For all the fellow investors out there, what are your favorite books or podcasts?
     
  2. Rockclimber

    Rockclimber Member

    A random walk down wall street

    That's all you need to read to be successful. All the other stuff is BS
     
    ludi_janez and Brandaddy like this.
  3. Brandaddy

    Brandaddy Member

    Huh, i never got too big into stocks myself because real estate always interested me more. I will have to check that book out though. Always open to expanding my knowledge
     
  4. Rockclimber

    Rockclimber Member

    First book I had to read to get a finance degree in college. Basically the random dart theory. It's why hedge funds always underperform indexes. It's why 99% of investors underperform indexes.
     
  5. Rockclimber

    Rockclimber Member

    How much real estate do you have and or want? Can you wait for interest rates to collapse as they will innevetabely do? Are you renting or flipping? I have a lot of experience in both.
     
  6. sinewave3

    sinewave3 Member

    Rich Dad, Poor Dad is a decent one.

    Basically about going from the “worker” mindset to the next level.
     
    TideGear and Brandaddy like this.
  7. Brandaddy

    Brandaddy Member

    Definitely one of my favorites!
     
  8. Brandaddy

    Brandaddy Member

    Value add rentals. So basically flip rentals to myself. I don't really have a set goal for how much i want to have. It's all I've done for the last year since my cashflow is considerably more than my bills now. Personally I'm just going to keep growing and scaling up.

    Edit: I'm definitely not going yo wait for interest rates or property values to drop. This is my full time gig is real estate investing. Also, i owm too many properties to buy anymore under fannie mae mortgages. I only buy with a 20 year business loan now. Also i typically buy my deals with at least 50% OPM so i have to use business loans or HMLs because they are the only ones that loan without sourcing funds.
     
    Last edited: Dec 14, 2018
    Rockclimber and sinewave3 like this.
  9. sinewave3

    sinewave3 Member

    Mind sharing your real estate strategy? Or where you learned it from?

    I was just introduced to “Velocity Banking” by a coworker. You basically pay down mortgage principal as fast as possible, then use the equity to buy another rental, then repeat the process. He has not started but here is what I know about it:
     
  10. TideGear

    TideGear Member

    OPM?
     
  11. Brandaddy

    Brandaddy Member

    Other peoples money. I find really good off market properties that still cashflow really good even after using other people's money to fund the down payment. So I'll guarantee them a certain return over a certain period of time. After that period i give them back their money and now get 100% of the cashflow and equity of the rental.
     
  12. Brandaddy

    Brandaddy Member

    For sure.

    Personally, how i got started was by buying a couple value add small multis. I fixed them up and rented them out then cash out refinanced at 80% ltv. Got all my money back and then FHA loaned into a value add duplex that i actually just sold. I rented out the other unit for 900 and my mortgage was 600. I had a gross profit of 60k off the sale and held it long enougn to avoid capital gains. While i was living there i started investing out of town and would buy 3% properties. I would shoot for a net ROI of 100%. I found if i hit those numbers i could buy them basically as fast as I could find them.

    It's worked out good for me so far. You will most likely have a little work to do to the property, but if you get a good crew of trusted contractors, realtor, and PM company, out of state investing is all i care to do now. I still have my original properties by where i live and still self manage them. Thats just because they cashflow so good and the tenants never bother me.
     
    sinewave3 likes this.
  13. JimLahey

    JimLahey Member

    The Intelligent Investor by Benjamin Graham
    I don't think you can go wrong with John Bogle's books.
     
    Brandaddy likes this.
  14. JimLahey

    JimLahey Member

    To add a little more info, Benjamin Graham was Warren Buffett's mentor. The Intelligent Investor really hammers home the idea of keeping things simple, and using index funds to build wealth.

    I was kind of lost on how to invest before reading it. I had read other investment books and never found quite what I was looking for. I may have picked up a few beneficial things from a book but still didn't know how to pursue investing. The Intelligent Investor made things crystal clear and provided great data to help me understand things, not just go with a plan because someone said so.
     
    turcao and Brandaddy like this.
  15. sk8rboy

    sk8rboy Junior Member

    security analysis by benjamin graham
     
  16. Mayne

    Mayne Member

    Peter Thiel "Zero To One"