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After listening to the insightful guidance of Jackie and the others on the New Years call a question came to mind:
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, What reading materials, maybe favorite books or market publications would each of the experts recommend? I imagine there are tons of options so just the top 2-3 would be helpful.
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, I am always reading and learning and looking for good information sources. Cashflowdepot is a favorite! as well as the wsj, and Florida Trend magazine and a few other business and market news sources. So what are the top 2-3 books or media sources the experts or any members read or have read to improve their skills and knowledge?
,So, what do the speakers who were on the State of the Union call recommend reading?
Dyches said
I regularly read John Mauldin (the economist) articles and find him to be insightful. Also, the Federal Reserve Banks put out a lot of good information, not of forecasts (they are notoriously bad at forecasting), but for current trends and historical information. Of course, talking to actual boots-on-the-ground investors in different parts of the country gives me the best indication of how different real estate markets are doing.
Prentiss Yates said
Drudge Report, Any Real Estate fraud cases ( to learn what NOT to do), Courthouse sales in my farm area
I have not heard from the others yet. I will post their advice as soon as I get it.
My 2 cents…
Though real estate investing in a local sport, you need to know how the economy nationwide, actually worldwide, could change your local market conditions. So it is good to be tapped in to several economic type newsletters. They all predicted the crash in 2008 a year before it happened. With that knowledge, and Jack Miller’s advice starting in 2007 to sell sell sell, many investors weathered the storm. But of those who were not listening, or didn’t want to believe it could happen, or not paying attention to nationwide economic news lost their houses.That’s why we have a News and Economic section here at CashFlowDepot. Dee is our eyes and ears on the ground to scour the world for news that could impact your business. (and he does a EXCELLENT job!) READ what he posts because it could certainly cause a disruption in your local real estate market. ASK questions after each of those posts about what it means for your market or you personally if you don’t understand the big picture. And there is a big picture. What happens in California could certainly change things in Florida or visa versa. What happens in this next Presidential election could change the course of the United States for the rest of your life.
The stock market crash in China is changing markets in the US already. Chinese are getting their money out of China and spending it on real estate worldside. A guy from China just spent $10 million on real estate in my little town in Panama. I sold a house in 24 hours in Texas to a group of Chinese who were fighting over who would give me the most money. Knowing that Chinese are buying in the US, you need to discover where and what and then tap in to those buyers with Options and Highest Bidder Sales if you don’t own any real estate to sell to them.
Instead of worrying about the competition, it is better to follow the economic news reports then be 2 to 3 step ahead of the competition who is probably not paying attention to global economic news.
David Tilney just sent in his reading list
I am currently reading Getting More: How You Can Negotiate to Succeed in Work and Life by Stuart Diamond. I also really like Good to Great by Jim Collins which I read several years ago. I screen my tenants in the same manner that Jim Collins talks about hiring employees.
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