Top 3 Books for Learning Multifamily Investing
Like anything else, Multifamily investing also requires education. I am one of the people who likes to learn by reading (or listing to) books. In this article I have mentioned the 3 Multifamily Investing books I benefitted the most from.
Financial Freedom with Real Estate Investing: The Blueprint To Quitting Your Job With Real Estate — Even Without Experience Or Cash — Michael Blank (257 pages)
This book is an excellent book for those who haven’t gotten their first multifamily property yet. Michael Blank really focuses on how to get started. He gives very actionable steps such as creating a sample deal and showing it to potential investors. This trick is pretty good if you don’t have a deal in hand. Otherwise a first time syndicator is always stuck in the dilemma — should they raise the money first and if yes, what are they raising the money for without having a deal at hand. The book also talks about The Law of the First Deal which in my opinion is actually a thing!
Michael Blank also has the most comprehensive program to teach multifamily syndications. For those who can afford thousands of dollars, there is a mentoring program and for those who can afford $50 per month, there is the Deal Make Mastermind program which is nothing but a Slack channel — but an extremely useful one if you know how to engage people on forums or Slack. You can learn more about these programs at https://themichaelblank.com.
Multi-Family Millions — How Anyone Can Reposition Apartments for Big Profits — David Lindahl (272 pages)
I read this book before reading other books. Even though the book talks a lot about a specific strategy in multifamily syndications — Repositioning, it does a very good job of selling multifamily syndication and it’s benefits to you also. This book certainly convinced me to get into Multifamily and I have also heard about a couple of big multifamily investors saying on the BiggerPockets podcast that this book is responsible for them getting into multifamily. It really explains the repositioning part in detail and proves it to you that it’s not that hard. It explains what should be done first in a repositioning exercise (such as updating exterior first) vs what should be done later (interior updates). It also talks about how to build a community. It also has a whole chapter on the biggest mistakes Repositioners make and how to avoid them. The organization of this book is really well done and feels very natural to me. You can look at the Table of contents on Amazon’s website before deciding to buy the book.
David Lindhal is native of Boston and he also has his own coaching program. You can learn more about his program at https://rementor.com.
Best Ever Apartment Syndication Book, Joe Fairless and Theo Hicks (458 pages)
I think Joe Fairless might be the most successful out of the three successful people mentioned in this article. He is really well known in the multifamily syndication world. He started his career in the Advertising industry in New York City and realized that in order to go big, he will have to do something different. His Best Ever Real Estate Investing Advice Show Podcast is very well known. He is a champion marketer and hence you will see that all his creations — his podcast, his books etc start with the two words ‘Best Ever’. I think he has certainly tried to make this book as a ‘Best Ever’ book as well. This book is the most detailed of the three books mentioned here. It really contains a bunch of checklists to act upon. I would even call it a reference book. After listening to the audiobook I was thinking of buying either a physical copy or a kindle copy to use it as a reference book. It’s also the biggest book (458 pages) of the three books mentioned in the post. It is also the most comprehensive book on syndications. He covers everything — from starting with a syndication, raising money, getting a deal and the execution — or executing the business plan. This book also contains very actionable steps that you can start working on immediately. You do not need to have any syndication experience prior for reading this book. The book is a bit expensive. It could be $47 or more, but the audiobook is cheaper, especially if you buy it with Audible credits. A Credit from audible only costs around $11.
Needless to say that Joe also has his own coaching and mentoring program where you can learn apartment syndication. You can find out more about it at https://joefairless.com/work-with-joe/
