Every market has a trend, especially when it comes to real estate investments, and one of many that are accumulating the most popularity at present is multifamily apartment investing.
As opposed to a single-family property, multi-family properties are a form of multifamily real estate with a conglomeration of individual units under one building such as apartments, flats, condos, and any accommodations that are not freestanding.
There are many tips and pieces of advice when it comes to investing in multifamily properties as you will see later on, and it is important to keep an open mind and some basic tips on hand such as:
- After you have conducted research, choose your location wisely.
- Set a predetermined budget for yourself.
- Don’t strike out the first hand—start small and work your way up.
- Make sure you have the right professionals to work with.
- Plan your future by working out what projected rentals you need versus what the market has available.
- Always prepare for the unexpected and you will never be disappointed.
It is easy to go online, research the statistics and copy them here; so instead, we have put together a list of the best books that will not only show you exactly what multi-apartment investing entails but also how you can succeed in your endeavors as well.
Multifamily Apartment Investing: The Books You Need
Multi-Family Millions: How Anyone Can Reposition Apartments for Big Profits by David Lindahl
David Lindahl is a successful real estate investor who created a guide on multifamily investing that has proven to be a success. He includes the step-by-step program in his book, but the basic overview is that it teaches you how to spot the diamond in the rough of properties that will be quick to beautify or restore and generate maximum profit with their sale. If you are a real estate investor looking to convert from single-family property investments to multifamily investments, then you really need to read this.
The Complete Guide to Buying and Selling Apartment Buildings: Second Edition by Steve Berges
As the founder of Berges Investment Group, Steve Berges specializes in various real estate mechanisms that focus on creating value. As he has been one of the most successful entrepreneurs in the industry as well as an active investor with more than 30 years of experience, his book explains that anyone can profit from investing in real estate if they have a well-defined plan, a little capital, and the proper guidance. What makes this one of our favorites is the amount of detail and thought that went into the writing of this book—you’ll be able to refer to the glossary included for a better understanding of the lingo, as well as real estate forecasts, advice on tax planning, and more.
Best Ever Apartment Syndication Book: A Four-Part System for raising money and buying apartments by Joe Fairless and Theo Hicks
Having started his career at an advertising firm with no experience or knowledge of real estate investing and earning $30,000 a year, Joe Fairless now controls over $400 million in apartment communities and this book shows us how. Serving as a guide that provides a step-by-step plan for completing your first apartment syndication deal and how to build a multimillion- and multibillion-dollar apartment investing empire, this is the only book so far that explains how to raise the finances that will allow you to buy your first apartment block.
Crushing It in Apartments and Commercial Real Estate: How a Small Investor Can Make It Big by Brian H. Murray
If you have always wanted to invest in real estate but have been staving off because you have no experience in it, then this is the book for you. Beginning his career as a teacher looking to earn some additional income on the side and transitioning to an award-winning CEO of Washington Street Properties, Brian H. Murray has taken his journey and transformed it into an investing handbook for those who sit in the same position as he did. Using his real-life experiences and lessons learned, Murray explains how you can find a commercial property, finance it with what you have, grow your portfolio, and keep costs to a minimum while providing you with all of the tools you will need to crush it in apartments and commercial real estate.
How To Create Wealth Investing In Real Estate: How to Build Wealth with Multi-Family Real Estate by Grant Cardone
Not only is he the author of 8 business books and 13 best-selling business programs, but Grant Cardone has also been listed as one of the top social media business influencers in the world. Taking a different approach to real estate investment, this book provides the exact formula that Cardone used to create wealth through long-term investments rather than wholesale and the flipping of properties.
How To Make Big Money In Small Apartments: How To Finally Earn The Money You Deserve In Real Estate Investing by Lance A. Edwards and Ron Legrand
For those considering investing in multifamily housing, this book details opportunities, strategies, myths, barriers, and secrets to success by providing various step-by-step methods and approaches. Along with using case studies of over 40 successful investors, Edwards provides a comprehensive guide for all beginner and professional investors on how to succeed in buying, wholesaling, and/or rehabilitating property without using any personal finances. The fantastic aspect about this book is that although Edwards discusses the skills you will need, he also emphasizes a lot more on ensuring that you have the right mindset, which is something not many of the other authors do.
Investing in Apartment Buildings: Create a Reliable Stream of Income and Build Long-Term Wealth by Matthew A. Martinez
This book serves as a guide to both novice and experienced investors by providing methods on a variety of aspects such as the benefits of being the owner of apartment buildings and how to produce them as well as ways to generate and maintain a stable cash flow for your investments to be self-sustaining. Instead of a set in stone guide, Martinez’s book takes you through the journey at a slower pace and in more detail in order to emphasize the nurturing process before continuing onto your future investments. This helps you avoid making the most common mistakes made in the industry that usually lead toward failure.
Wheelbarrow Profits: How to Create Passive Income, Build Wealth, and Take Control of Your Destiny Through Multifamily Real Estate Investing by Jake Stenziano and Gino Barbaro
Having a firm belief that multifamily property investments are by far the most underappreciated source of wealth in the United States, Jake and Gino created and developed the wheelbarrow profits—their very own tried and tested strategy that they have used to multiply their one and only multifamily investment at the time to almost a dozen fruitful and wealthy properties. Catering to experienced real estate investors—or even new ones looking to create their portfolio—this system will educate you on the ways to study your market, obtain the means to expand your portfolio, and manage everything successfully so that you receive your desired return.
The Science Of The Deal: The DNA of Multifamily and Commercial Real Estate Investing by Shravan Parsi
Taking a unique approach to investment using his background in pharmaceutical research and real estate investments, Shravan Parsi takes you on his journey from pharmaceutical scientist to CEO and founder of his real estate investment firm American Ventures. His book explains investments from a technological (albeit relatable) viewpoint of knowing when to grab an investment opportunity and also how to discern that it will not prove fruitful and walk away.
How To Create Lifetime Cashflow Through Multifamily Properties: The New Rules of Real Estate Investing by Rod Khleif
Being a real estate investor as well as a host of the top-ranked real estate podcasts on iTunes is a pretty big deal; add entrepreneur, author, mentor, community philanthropist, and multiple business owners to that and you have someone whose journey is one that you really want to hear. Khleif explains his stories of success as well as his considerable failures that led him to the realization that real estate and its investing rules have changed forever. This book provides a detailed step-by-step technique that reflects his passion for life, business success, and philanthropy that will challenge anything you know about multifamily real estate investing.
In Summary
Although it may be considered one of the more undervalued investments, multifamily investing (when done right) offers a world of wealth and knowledge in comparison to single-family investments—but as the two are polar opposites both in quantity and approach, there is no telling which of the two would be more lucrative. I had to learn all of these lessons too, and that’s why all of these books have passed by my bedside table (also in my Audible and Kindle nowadays lol).
Whether your approach favors a technological strategy or the words of wisdom, we can certainly say that real estate investing—and particularly multifamily apartment investing—is gathering popularity by the day.
Who knows, maybe this is your niche and we will be reading your stories of fame and fortune in the near future?
Before you go, check out my other list sharing the 10 Best Books for New Real Estate Agents