Categories
Must Have Books Real Estate Investing

Highly Recommended Reading for Entrepreneurs

For the past 10 years plus I’ve been reading, studying and devouring awesome books, courses, etc. that had to deal with real estate, money, business and self-help. There are a handful of books that I HIGHLY recommend and I figured I’d include them here. If you have some that you think should be added, please make a comment with your suggestion and why you think it’s such an awesome book.

Also, if you’re read any of the ones that are on my list, by all means make a comment about why you liked (or didn’t like the book.) (Note: The links below are all affiliate links. So, if you think a book or 2 sounds interesting and you want to go ahead and buy it, please use the affiliate link if you feel that I helped you with your decision to purchase the book. It really helps to pay for this blog! Thanks!)

  • Rich Dad, Poor Dad by Robert Kiyosaki– simply one of the best books ever written, imo. It will completely change your way of thinking about money, wealth, investing and well life in general. This is #1 on my list for a reason. I can’t even tell you how many times I’ve read this book.
  • Secrets of the Millionaire Mind by T. Harv Eker– Wow. That’s what I thought after reading this book. I will warn ya tho…it’s slow to start, but trust me when I tell you to stick with it. If you’ve always wondered why you get stuck in the same ‘ole money ruts then this book is your answer. You will be absolutely amazed at the things you learn about yourself while reading this book. But remember, give it a chance, it’s slow in the beginning but you will eventually have one of those “aha” moments like I had and be hooked. I finished this book in 1 day both times that I read it. And I’ve also listened to it on cd’s twice! That’s how good this book is. You’ll take something different from it everytime you read it (or listen to it.) I promise.
  • The 4-Hour Workweek by Timothy Ferris– have you ever thought that you worked TOO much? Yeah me too. This book is the perfect read that will give you tips on saving time and getting what you need to get done quicker. Remember I mentioned this book in my post about a marketing schedule? You’ll learn how to do what’s important in life and eliminate the fluff from your life making for a more productive day and business. A+ read.
  • Emerging Real Estate Markets: How to Find and Profit from Up-and-Coming Areas by David Lindahl– this is an excellent book regardless of which area of real estate investing you are in to. Seriously, if you’re a residential or commercial investor or if you’re into land development or just any area of real estate investing in general you should definitely read this book. You’ll learn how and why certain areas will skyrocket with appreciate even while the national market or your local market in fact may be stagnant or declining. Awesome book filled with incredible information and it walks you through where and how to get this information.
  • Multi-Family Millions: How Anyone Can Reposition Apartments for Big Profits by David Lindahl– another excellent book by Dave. His books are really loaded with useful information, grant it, throughout and in the end he may try to sell you on his courses or coaching, but overall his material is always A+ in my opinion. This book has to do with repositioning apartment complexes. It’s a way to make a boatload of money if you’re willing to take on the challenge of a repositioning. He recommends that not more than 30% of your portfolio be in repositions. Check it out and let me know what you think of it! I think you’ll agree with my assessment!
  • People Are Idiots and I Can Prove It!: The 10 Ways You Are Sabotaging Yourself and How You Can Overcome Them by Larry Winget- This guy is just abrasive, hard core, in your face and to the point. It’s time to start taking personal responsibility for your life and for your screw ups. If you need warm and fuzzy, Larry ain’t your man, but if you can handle the truth, then this is a MUST READ. It’s very effective for you to do the exercises throughout the book as well. You can check out My Plan for My Life list from this book and My Give Up list. Pick this up the next time you’re feeling like life sucks and nothing is going your way 😉 or if you just need a little pick me up. And yes I’m being serious.
  • You’re Broke Because You Want to Be: How to Stop Getting By and Start Getting Ahead by Larry Winget– another in your face book that helps you take personal responsibility. Well I don’t wanna say helps you but throws it in your face that you have to. It ain’t nobody else’s fault but yours so start taking control of your life and start getting ahead. Great exercises to do in this book as well. Not for the people who need sweet and nice. You should have somewhat of a thick skin to read any of Larry’s books.
  • The Art of the Deal by Donald Trump– well if you don’t know who Donald Trump is well you probably live in a hole somewhere (and if that’s truly the case then I’m impressed that your hole has internet access!) Anyway, this is a very interesting read. The thing that I think makes it the most interesting is that Donald Trump does what we do day in and day out but on a LARGER scale. Options, rehabs, you name it. It’s in the book.
  • The 9 Steps to Financial Freedom by Suze Orman– I use to work as a production coordinator backstage at QVC way back in the day and that’s how I got this book. Suze was a guest and I was in charge of her show and we got to talking and she gave me this book. Boy was I glad she did. Most of us don’t want to invest in real estate so we can invest forever and constantly work on deals, right? Well this book will lead you through the steps you need to take to be financially free one day. It’s worth the read.
  • You’ve Earned It Don’t Lose It by Suze Orman– here’s another great read by Suze. So we work for 10, 20, 30, 40 years, etc. to make money to pay the bills and to live and enjoy life but do we really end up “losing” most of our money? Most folks sadly enough do. Learn how to earn your money and not lose it.
  • Unlimited Power by Anthony Robbins– we have so much that we stop ourselves from doing in life. If you don’t know it yet, our mind is a very, very powerful thing……Anthony Robbins book and audio helped me to take action in my life big time. I can’t say enough about this book but I want to tell you that if you have the funds available that I really suggest you get his Personal Power Cd set. I think I had Personal Power II. But it was truly an amazing experience going through all of the steps in the cd set. If funds are limited tho, then you can’t go wrong with this book.
  • The Secret– a simply awesome book about the Laws of Attraction. Must read or see for everyone. I think most of these books should be REQUIRED reading in school but definitely this one should. If you’re not much of a reader than check out the dvd. It’s mind blowing. Hint: DO THE EXERCISES!
  • Think and Grow Rich by Napoleon Hill– here’s a must read classic. What’s the first word of the title? Yep, THINK. Are we seeing a pattern here……your head and mind is soooo powerful. Learn how to use it in your favor. You’ll see what Hill learned when he interviewed many successful people to write this book.
  • The Total Money Makeover by Dave Ramsey– if you got some debts and some money worries than this is the book for you. If you’re like me and you’re not into religious type of stuff, etc. then you’ll just have to ignore those parts of the book. Take what you want and need from the book and you’ll be astounded at how you get your financial plan into shape. Remember tho, ain’t nothing gonna change in your financial life just because you read this book…you MUST take action and implement the concepts you learn. I still use Dave’s concepts to this day in regards to money (I use Dave’s, Suze’s from 9 Steps and T. Harv Eker’s from Secrets of the Millionaire Mind to help with my financial plans.)
  • Heartburn No More by Jeff Martin– ok grant it I know that this isn’t really about real estate or investing but it does have it’s place. Believe me. I, personally, have suffered from acid reflux/gern/heartburn for over 5 years and I’ve been on medicine for it for over 5 years. My G.I. doctor recently told me that he wanted me off of the medication so I had to start taking it every other day. Well that other day was very painful so I decided to look for a holistic approach to getting rid of heartburn and I found this ebook. Desperate with such bad heartburn that it brought tears to my eye I bought the ebook. It was hands down the best 47 bucks I ever spend in my life. I started the program in the beginning of September 2009 and this entire month I’ve been without heartburn. It’s friggin amazing. If you or someone you know has acid reflux, gerd or heartburn might I please recommend you buying this for them for their birthday or as a just because gift.

    Btw, I don’t know if you know this but stress is a big factor in heartburn. If you have any type of heartburn symptoms and if you’re anything like me and you get stressed out by your real estate deals “will I find a wholesale buyer quick enough” “will my rehab be done in time” “will my simultaneous close go smoothly” etc. etc. then this is a MUST HAVE E-BOOK. No questions asked. It will save you from much pain. If you’d like any more details of my experience with the book and it’s entire program then please feel free to contact me here.

  • Well I have many more books that I’ll think about putting on here but this is a good start for now. If you guys and girls can think of anymore, let us hear about ’em!

    Did you like this? Share it:
    Categories
    Real Estate Investing Real Estate Marketing Short Sale Investing

    Real Estate Investing Marketing Schedule

    Ok so I’m one of those people that need a schedule. Not only do I need one but I find that I’m wayyy more productive when I write stuff down even if I have to do it everyday. I think I learned that writing the stuff down each day worked best for me after reading The 4-Hour Workweek by Timothy Ferris. Awesome book which I highly, highly recommend.

    Now through the years of investing (10 to be exact) I’ve figured out which methods work for me and actually got me deals and made me money and which methods didn’t do squat. So, of course, I’m only concentrating on the methods that have made me money in the past.

    Also, please keep in mind that this is a general schedule and I may change the days around as I have other things that may come up (cause I’m not only involved in investing but I have other things going on.) Oh and also….I am on this cleanse/juice fasting thing for the next week so I’m not sure how my body will react and some of the things that involve leaving my house may have to wait until the following week. (I’m taking a holistic approach to getting rid of my acid reflux/heartburn/gerd…hence the cleanse/juice fast. I may post about that in the future just in case any of you suffer from that. It’s going awesome…haven’t had to take my heartburn medicine this entire month!) Anyway….enough of that….on to the schedule:

    Mondays- Put out 10 Bandit Signs.
    9am – 10:15am: Get probate listings from courthouse (I haven’t gotten a deal this way yet, but I get my phone ringing and have made offers.)

    11:15am – 1:15pm: Go visit cash-only solds from the MLS to add to my buyers list. (I kinda searched for them before like that but after watching Steph’s video about it I really think I’ll take it more seriously and make it a part of my weekly/monthly routine.)

    2:15pm – 4:30pm: Search MLS for reo’s to make offers on and owner-occupant fixer uppers/motivated to send mailings to.

    4:30pm – 5:30pm: Send out probate letters.

    Tuesdays- Put out 10 Bandit Signs.
    11:15am – 1:15pm: Visit the MLS reo’s from yesterday, if necessary.

    2:15pm – 3:15pm: Make offers on every property visited.

    Wednesdays- Put out 10 Bandit Signs.

    Thursdays- Put out 10 Bandit Signs.

    Anything that I may not have gotten accomplished on Monday, I will take care of on Thursday. Plus,

    9am – 11:15am: I may go to the courthouse to check out pre-foreclosures. I refuse to send postcards to these people because over 10 yrs. it’s been the biggest waste of money for ME, personally. I am seriously contemplating coming at them from a real estate agent point of view to see if that can get me in the door and that way I can throw 2 options at them: I can either buy your house from you or list it for you. This will mostly be door-knocking though. If I get no answers then I will send a nice letter, which I got from my father. I’ll revise it a wee bit, but overall I like it. (My father is a Realtor and has a lot of success with getting listings from pre-foreclosures.) Keep in mind, I’m not in this for listings, I want the deals, of course, but I’m not going throw away any easy money that’s for sure.

    1:15pm – 3:15pm: Door knock the leads that I get from the courthouse that day.

    4:15pm – 5:15pm: Send out letters to the folks on my lead list that weren’t home when I door knocked.

    Fridays- Put out 10 Bandit Signs.

    Saturdays- Put out 10 Bandit Signs.

    Sundays- Put out 10 Bandit Signs.

    Notice that I’m leaving the evenings open for potential appointments with folks or they can be stuck in slots on days that I have open, including weekends.

    Everyday I’d like to put out bandit signs as they have been my biggest money maker for deals (along with the vinyl lettering on the back of my car and the MLS.)

    There ya have it. That’s my tentative schedule for now. I may have to tweak it, but we’ll see how it goes. This week may be a bit hairy because of the cleanse I’m doing, I should know more tomorrow. Honestly tho, I may just do only home type stuff this week because I have this whole schedule going on with what I’m suppose to do with this cleanse each day (it ends on Friday.)

    Flippin’ Carey

    Did you like this? Share it:
    Categories
    Real Estate Agents Real Estate Investing Short Sale Investing

    Short sale going on…

    Ok so when I was a lil slow on the trigger with getting deals because I didn’t want to disappoint anymore sellers I decided to go with the OPTION side of life. So what I did was I got this nice 4 bedroom, 2.5 bath newer home in Parkesburg, PA. tied up with an option contract. Wasn’t all too much wrong with it so I decided I’d try to flip my option to someone in 30 days and if I couldn’t do it than I was at least upfront and honest with the folks and I could always list it if they wanted me too (for those that are just learning about me now, I’m also a licensed Pennsylvania real estate agent.)

    Well 30 days goes by and I couldn’t whoelsale it to an investor, which I knew I wasn’t going to anyway, this was totally an owner-occupant type deal. I also, unfortunately, couldn’t flip my option contact to an owner-occupant. So, I advised the sellers what was up and that I, personally, did not want their house and that I could list it if they’d like. They did.

    The house as been on the market foreverrrrr but we finally got an offer yesterday on it. We’re countering, but regardless, it’ll be a short sale. I’m sure buyer and seller will agree on price and then we’ll have to go through the process to get the bank to agree to it 🙂 (Wanna learn how to do short sales? Check this out short sale course out!)

    The first is with Wells Fargo and the 2nd is with Wells Fargo’s Home Equity division. So, I’m on my way to drop the agreement of sale off to the sellers so they can initial the changes they want to make and sign the contract. The reason these folks are actually going into foreclosure in the first place is because the wife was in a major car accident and is on permanent disability (with no benefits) and there ya have it. The husband called me today and said he’d have to pick up the contract and then get her to sign it later because he’s taking her to the emergency room for some problems she’s having (he took her late last nite as well.) This one was very emotional and is a TRUE hardship situation.

    Oh and in the meantime, I get a call from a guy who saw that this house was for sale. We start chatting and it turns out that he’s an investor. We had a pretty decent conversation and I added him to my wholesalers list hehehe Funny how things happen, ain’t it? That Law of Attraction stuff really does work………..

    Already, off to take care of this. Later I’ll post my new schedule and plan for coming up with deals. I already gave myself a 10/31/09 deadline for my first newly “not m.i.a. anymore” deal.

    Flippin’ Carey

    Did you like this? Share it:
    Categories
    Real Estate Investing

    Hello Everyone!! Missed me? I’ve missed you!

    Anyone who knows me or who has read my other blog before knows that I’ve been M.I.A. for some time now. I’ll get to why in a second but for now just know that I’m baaaaaaaaaaaaaaaaaack. 🙂

    So I’ve been out of the real estate investing scene for a while…gosh it may have been a year?? Not too sure. Anyway, I’d like to share with you why and I hope that someone can take from it and learn from it and not let the same thing happen to them. For those that don’t know me, I’ve been investing in real estate since 1999. Not exactly a newbie, we’ll say.

    I got all of my knowledge from forums like Creative Real Estate Online and Flipping Homes. I bought courses, spent time with folks in the biz (I spent a few days in Baltimore with Steve Cook back in the day…remember that Steve?) But the key finally with it all was that I TOOK action (eventually lol)

    In 1999 I started investing in Mobile Homes via Lonnie Deals. In 2001 after an amazing talk from my step-father I started investing in single family homes. Then I think it was in 2007?? that I decided to do my first wholesale deal. Why it took me so long to do one is beyond me because it is by far the EASIEST way to make money in real estate, imho. (Plus, I had Steve Cook’s very first edition of his Wholesaling course foreverrrr and just never implemented it until 2007.)

    Fast forward…..I was doing some wholesale deals here and there loving life and loving real estate then it happened. I got a house under contract that I couldn’t wholesale. I felt kinda obligated to help the sellers out of their bad situation because after all I told them I would help them, right? (And I think being a girl doesn’t help….we get more involved than we should at times.) Anyway, after talking to a few friends I finally REALLY looked at the numbers of the house and realized it wouldn’t make sense for even me to purchase it so I walked away from the house. After that I just spiraled downwards where real estate is concerned. I couldn’t deal with the failure of myself but more importantly of disappointing someone that I told I could help. I’m one of those people where I value my words and I mean what I say so to have it happen where I didn’t follow through on a promise really was a tough pill for me to swallow. I stopped the whole real estate thang completely (well I still had a rental tho) but as far as actively seeking out deals. I mean I’d talk to a seller here or there and look at the MLS every so often but I didn’t really ever commit to doing anything.

    I talked to a few folks to try to get myself over this hump, if you will, and they all made sense. Thanks Steph and Sandy and we all knew the reason I stopped investing and we all knew that not being able to wholesale a deal has happened before to investors so it’s not that big of a deal but I just couldn’t get passed it. The mind is an amazingly powerful thing, ya know?

    Now, I’m ready to rock and roll again. I’ve been involved in a lot lately, including some passive income streams, and I’ve has a lot of wonderful things happen over the past year but I miss real estate and I think I’ve got a handle on my mind. I think that’s enough for now, don’t you? You guys and gals know how I can ramble….I could go on for a million more words lol

    Finally, I just wanted to welcome everyone back into my life….I’ve been keeping an eye on a couple of you throughout this whole time tho and I just want to give a HUGE shout out to Steph (TampaSteph) and tell her that I think she’s been doing a fantabulous job with her blog and I think it looks amazing. You go girl! Speaking of her….make sure you buy her ebook about flipping Reo’s…I’ve learned many a things from Steph and you’ll love the knowledge that she can share with you……check it out here:
    flip this reo ebook

    Talk to ya’s soon,

    Flippin’ Carey

    P.S. Bare with me while I get this lil blog here cleaned up a bit. 😉

    Did you like this? Share it:
    Categories
    Random Ramblings Real Estate Investing

    Kidney stones, deals and marketing

    Ok so can things get any more crazy for me? Just as I promise myself that I’m going to start sticking to my real estate guns so to speak because I’ve been totally out of the loop for like 3 months now guess what happens? I’ll give ya a minute to think…….

    Times up. Friday afternoon evening, Kathy, Brandon (her 15 yr. old,) Joe (her 7 yr. old,) and I were out shopping and going to see Santa and all of that stuff. Well from 3pm on I had this horrible pain in my lower back and my side. I, honestly thought it was gas. It was pretty uncomfortable…..I mean I wasn’t much company for anyone to be honest with you. Later in the night after the kids are in bed Kathy tells me she thinks it’s kidney stones and that we should go to the hospital. I’m like nahhhh, it hurts but I think it would hurt even MORE if it was that. So, all night I’m in pain, nothing helped…standing, no, sitting, no, laying down, no. heating pad, no. Nothing. Midnight she suggests the hospital again and I say no way…it’s probably just really painful gas and I’ll be embarrassed. Finally, Saturday morning at 3am Kathy wakes up to find me curled up on the couch in pain, crying like a lil baby. She says “that’s it, I’m getting Joe and we are going to the hospital NOW!” (Brandon didn’t want to go…lol he was smart and kept sleeping….the 7 yr. old doesn’t have a choice but to go with mom tho lol)

    Anyway…as it turned out yep….I had kidney stones. They first said it looked like 2 that needed to pass and 1 just hanging out in my kidney. But after reading my preliminary radiology report to my family doctor and my new urologist….it turns out only 1 needed to pass and the other one is hanging out in my kidney. (I passed it Saturday afternoon, btw.) But I’ve been taking my pain meds ever since cuz I was told there were 2 that needed to pass…..and I’ve gotten NOTHING down. I’ve just slept. I’m a light weight and just about any kind of drug makes me sleepy…so every 6 hrs. I was taking pain meds and sleeppppppppppppping. Now I’ve stopped the meds and on to real estate again (urology appointment is Jan. 3rd to find out about the stone, etc.)

    Sooo real estate wise, what is up with me? Well still gotta get in touch with a supervisor for that deal whose sheriffs sale was postponed 30 days. I think I’ll get on the phone with them tomorrow and STAY on the phone until I get someone.

    And the guy from Oxford returned my call today so I’m meeting his wife 1:15pm Thursday to get our paperwork notarized. Friday or the weekend I’ll probably head over and take pics, etc.

    The numbers for this are really confusing. I mean this market is just all over the place. It’s kinda driving me nuts.

    ARV: somewhere between $160k and $200k (seriously….but I’m leaning more towards the $160k mark for NOW.)

    Repairs: 10k to 20k (mostly updating, etc.)

    My offer: I think it was $95k lol I forget. I don’t have the paperwork in front of me.

    They owe about $160k but that’s a first AND a second. The thing that confuses me about this short stuff amount and the percentages they say they’ll generally take of the bpo, etc. Is this: it’s the percentage WHO will take? Sure if it’s a first that’s a no brainer…but how does all of that 82% of bpo etc. work out when there is a first and a 2nd??

    Then Friday afternoon I’ll be meeting a husband and wife who have a beautiful house in Berks County (Shillington.) It hasn’t sold for like 3 to 4 months now (on MLS) and they get nothing but positive feedback. Again, prices all over the place but the house was priced at what others have sold for…so I’m confused.

    ARV: $199k I guess…..I mean it’s not selling over 200k now anyway…..

    Repairs: $0

    First of $117k

    2nd of $59k

    Bankruptcy of $20k

    He told me everything has to go by his bk attorney first so it gets approved. And the bk attorney said as long as the price pays off the bk and all of the liens on the house it’ll be fine. However, ain’t no way that is happening.

    I was thinking along the lines of like $145k to $147k. Pay off the first, pay off the bk and give the 2nd like 10k. If anyone is reading this, what do you think? Will that even fly? I have no idea.

    The seller worked out an arrangement, temporary, with Countrywide, they have the 1st, but they are 1 month behind on the 2nd….and well Countrywide wants them to start paying $2300 a month jsut for the first! Plus a $500 2nd, plus $750 a month to the bk. So needless to say, they can’t do that……I don’t know how this one is gonna pan out, but I’ll see. Any thoughts would be GREATLY appreciated As I need to make a buck…slacking off for 3 months does NOT pay the bills. Ok I was only half slacking and the other half I had “LIFE” things to tend to but still…it don’t pay the bills.

    On another good note, I sent out 8 postcards lol last thursday, 6 postcards yesterday, and 14 today. I have a headache now..putting things into perspective makes my head hurt.

    But this lil guy can always make me feel better:

    andrew in bathtub

    Did you like this? Share it:
    Categories
    Random Ramblings Real Estate Investing Short Sale Deals Short Sale Investing

    Starting a real estate investing blog

    Well I decided to start a blog after checkin out the WI girls blogs and Stephs….and Patricks. I figured this would be good for me to help get things on paper errrr computer for me to see. Ya know? Maybe some lightbulbs will go off when I do some re-reading and also I can keep myself accountable. That’s the plan anyway.

    Since I’m sittin at the hospital while Brandon (significant others son) is sleepin and I have nothing else to do so I’m gonna do this for a bit. I may get sleepy shortly cuz it is 1:40am. Btw, I hope I’m doing this right…..can anyone see this?

    I’m a lil frustrated by that ss that I posted*. I’ve invested a lot of time and energy in it since August. Grrrrr and now the 2nd won’t even counter cause they are going to the auction! The numbers don’t make sense to me so I don’t see why they are going that route…but what do I know?

    Here the numbers:

    1st $130k
    2nd $ 40k
    Back Taxes $14,400

    Repairs Needed $10,000 to $15,000
    ARV $185k to $199k (it’s been fluctuating with the market, but mid 190’s is probably accurate.)

    I only offered 2nd $1k but could do as much as 10k and I have an investor that would pay $160k to 165k…..

    The bank didn’t even do an interior bpo! I have no idea what they are thinking. The interior would have come in I’m sure at around $170k to $180k and honestly that’s too much, imo.

    Well I’m gonna follow Cory and Shauns advice from the forum and see how that pans out.

    I got another deal brewing but I forget the numbers right now cuz well it’s 2:15am and I am sleepyyyyyyyyyy. But boy does it suck sleepin on this uncomfy couch in the hospital.

    Oh and for those that inquire: Brandon will be getting out of the hospital on Dec. 5th. Then he’ll have to go to outpatient therapy daily for a month, then he MAY be able to go to outpatient therapy 3 days a week and school 2 days a week. We shall see.

    I’ll report back soon and give ya the numbers on the new ss I signed up (half way.) And I gotta talk about my sub2 deal more……….that thing is freaking me out!

    *This is referencing a post I made on flippinghomes.com

    Did you like this? Share it: