They say imitation is the best form of flattery. But when it comes to flipping houses, it may just be the best path toward profits, too.
Let's face it: Fix-and-flip investing is an art form, whether you hire a contractor or pursue the DIY home improvement route. It's a mix of careful calculation, thorough evaluation, and smart guesstimation, and there's a pretty steep learning curve at the outset.
A great way to shorten your learning curve as a real estate investor? That'd be following in the footsteps of those who came before you. You may have already bought your first home or played your hand at earning passive income through investing in rental property, but this type of real estate investing may require a little bit more education before you succeed.
Want to perfect your approach to flipping homes? Try these real estate investing books for starters. Written by expert-level house flippers, they can help guide your way to a profitable flipping business in no time.
The best books on flipping real estate
If you're the type who needs clear-cut, step-by-step instructions, this book's for you. As one reader put it, "I was amazed that he literally gives you the exact blueprint you can use to flip houses successfully." Weber delves into not just finding the right property but choosing the perfect market, too. He also talks long-distance real estate investing and gives practical advice based on his decades of flipping experience. The reviews are glowing, too. The book averages 4.8 stars out of five on Amazon, with 90% of readers giving it a five-star rating.
A New York Times bestseller, FLIP is a great read for house flippers just starting out. The comprehensive book goes into all aspects of the process -- finding, buying, rehabbing, and selling a property -- as well as common flipping hurdles many investors come up against. It's written by senior executives at HomeFixers, a well-known resource for investors looking to make money flipping houses.
The Business of Flipping Homes: Short-Term Real Estate Investing for Long-Term Wealth by William Bronchick and Robert Dahlstrom
Dubbed an "A-to-Z guide for both new and seasoned investors," The Business of Flipping Homes goes into single-family house flipping, with details on how to locate potential properties, renovate them successfully, and then sell them at a profit. Using their 40-plus years of experience in flipping, Bronchick and Dahlstrom also dive into the most common mistakes made by flippers, as well as how to work with a real estate agent, manage the numbers and paperwork, and even how to use technology to improve your outcomes.
Dream Home: The Property Brothers' Ultimate Guide to Finding & Fixing Your Perfect House by Jonathan Scott and Drew Scott
Whether you're a fan of HGTV's The Property Brothers or you just want a more visual guide to flipping and renovating houses, this is the book for you. The New York Times bestseller talks buying, renovating, and selling houses and includes tons of extras like design ideas, calendars, and a list of the most valuable rehab and do-it-yourself projects out there. Reviewers call the book "accessible" and "one of a kind."
Need to calculate your potential return on investment (ROI), after-repair value, equity, depreciation, cash flow, or any other aspect of the investing equation? This book has you covered. It's available in paperback and e-book, and the digital version also includes 24 calculators to make working those numbers even easier.
This exhaustive tome offers step-by-step instructions on how to find properties, determine profitability, work with contractors, and sell the place at a profit. A nice perk? It's available via audiobook, too, so you can listen on the morning commute, during your workout, or whenever is most convenient.
The Real Estate Rehab Investing Bible: A Proven-Profit System for Finding, Funding, Fixing, and Flipping Houses…Without Lifting a Paintbrush by Paul Esajian
The so-called bible of rehabbing breaks down author Paul Esajian's seven-step system for flipping properties. It talks finding properties, negotiating, working with contractors, and even managing multiple projects at once. There are also helpful insights on financing your flips and how to save money along the way.
Fix and Flip Your Way to Financial Freedom: Finding, Financing, Repairing, and Selling Investment Properties by Mark Ferguson
Experienced home flipper Mark Ferguson shares his best tips and tricks in this detailed Kindle book, available for just under $3 on Amazon (NASDAQ: AMZN). The read goes into finding great deals, accurately estimating repair costs, negotiating tactics, and more. There are even sections on scaling your business to handle 10 flips or more simultaneously. The book has 4.5 stars out of five on Amazon, with reviewers calling it "great for beginners" and a "guideline to success."
Specifically designed for newbies, this book delves into finding discounted properties, partnering with local experts, and building a successful team of contractors. It also breaks down the most common mistakes made by new flippers, as well as helpful hacks to make your first flip easier. This one's available both on Kindle and via audiobook.
If you're tackling an older investment property, this one can help walk you through it. Written by longtime contractor George Nash, the book breaks down the nuts and bolts of vintage-era home renovations, as well as what you can expect when taking such a project on. One reviewer calls the tome "nearly encyclopedic."
Real estate investing books: The honorable mentions
- Short-Sale Pre-Foreclosure Investing by Sharon Restrepo and Dwan Bent-Twyford: Want a great deal? This guide can help you find it. A detailed walkthrough on how to find, buy, and flip short-sale properties, this tome even touches on wholesaling -- yet another way to turn a profit with bargain-priced investments.
- How to Buy Foreclosure Homes by Lance Wills: Considering a foreclosure for your first flip? Use this book to help you traverse the complicated process. It even includes handy worksheets, checklists, and forms you can put into action.
- The Ultimate Step by Step Guide to Finding & Investing in Off-Market Real Estate by Liran Koren: Not all available real estate is listed on the multiple listing service (MLS). Use this guide to locate viable off-market properties you can flip for a profit. The book also dispels common real estate investing myths and talks advanced acquisition methods like data mining, web scraping, contacting existing homeowners, and more.
Following in the footsteps of others
The flipping business can be hard, especially when you're just getting started. Use these real estate investing books to guide your approach, and consider partnering with a local investor in your area as you kick off your flipping efforts. You might have to split the profits, but with the right partner, the knowledge you'll gain could be well worth the investment in the long run.
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