Have you ever asked yourself, “should I get started investing in commercial real estate?” CRE investing is not just a great way to take your residential real estate career to the next level, but also a way to set yourself up for future financial freedom. However, making the move will mean taking your self-education efforts to the next level. Luckily, today’s best commercial real estate books are ready to help you do just that.
While the technicalities of commercial real estate investing differ greatly from residential, the basic buying and selling concepts are similar. Whether you’re already involved in the real estate industry or you’re completely new to the field, learning more about the benefits of commercial investing will only help you succeed.
Expanding and building upon your education is the key to success for any real estate entrepreneur. I started my career knowing nothing about real estate whatsoever, but I took it upon myself to listen to podcasts, read books, attend seminars, and network relentlessly so that I could stay up to date with the latest trends and technologies, and I recommend you do the same. So if you’re willing to take the challenge, these commercial real estate investing books are a great place to start.
Why Every Investor Should Read Commercial Real Estate Books
Every investor needs to at least consider reading commercial real books—if for no other reason than to gain more insight on an already fascinating industry. At the very lease, learning about a subsequent niche in the real estate investing world will give you an idea of the direction you do or do not want to take your business; at most, it’ll open up your eyes to a completely new way of doing things.
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Best Commercial Real Estate Books Of The Year
Whether you spend an hour or two reading first-thing in the morning or have 30 minutes to kill on the treadmill, these commercial real estate investing books should be at the top of your list:
1. ”The Commercial Real Estate Investor’s Handbook: A Step-by-Step Roadmap To Financial Wealth”
Learn how to make money investing in several types of commercial buildings: warehouses, apartments, mobile home parks, shopping centers, hotels, and more.
Discover everything you need to know about commercial property investing: how to identify opportunities, determine property value, acquire, finance, and manage commercial real estate.
This book translates to every level of experience, from beginner to expert.
Do you need step-by-step instructions taught by a pro? If so, The Commercial Real Estate Investor’s Handbook should be your next read. Presented in an easy to follow layout, Fisher makes his content relevant for both newbie and seasoned investors, alike. The book jumps right into talking about different types of commercial real estate (i.e. apartments, office building, retail stores, shopping centers, strip malls, industrials sites, etc.), and goes on to explain different career and financing options within the sector. Fisher is concise and straight to the point. He defines exactly what you need to know and makes sure to highlight key concepts along the way.
One of the most helpful aspects of this book (located right in the third chapter) is Fisher’s map for setting SMART real estate goals. If you are unfamiliar with the theory for this method of goal setting, know that SMART is an acronym for Specific, Measurable, Action-oriented, Realistic, and Timely. Fisher explains that investors who set goals using the aforementioned criteria, will be far more likely to achieve those goals.
After completing this publication, you will have a better understanding of budgeting, be more financially literate, and, best of all, be capable of handling whatever commercial real estate issue arises during your first deal. If you’re deciding whether or not commercial real estate investing is right for you and your business, Fisher’s anecdotes will lead you towards the best choice.
2. ”How To Succeed In Commercial Real Estate”
This book is a practical resource for anyone looking to break into the commercial industry.
“How To Succeed In Commercial Real Estate” is also designed to help veteran investors strengthen their approach.
Learn about the four main areas of commercial real estate: retail, office, industrial, and investment—as
Avoid falling into another “get rich quick” scam by reading John Bowman’s How To Succeed In Commercial Real Estate. The book provides a straightforward overview of what it takes to pursue a lucrative career in buying and selling commercial real estate, but Bowman wants people to know that this line of work is not for the faint of heart. While beginner investors are welcome to indulge in this read, the content does get technical. After skimming over the basics, Bowman delves deeper into more intricate strategies for financing, sales, negotiations and contracts. In doing so, he leaves no questions left unanswered.
The heftiest chunks of the book cover both technical and practical knowledge (think laws, regulations, construction, technology, appraisals, environmental issues, leasing vs. selling, etc.), along with a step-by-step guide to running a winning marketing campaign (think cold call strategies, creating a buyers list, building relationships, generating leads, etc.). In my opinion, however, the most valuable portion of the book lies within the chapters that detail the importance of ethics and integrity. Bowman does a superb job defining professionalism and how every entrepreneur should hold themselves in any investment transaction. He discusses the basics of salesmanship and teaches “the fact that salesmanship is not a dirty word—in all aspects of life it helps us succeed.”
The anthology concludes by shedding light on what to do if (and when) you inevitably strike out. Bowman advocates a can-do attitude and finishes saying, “Our successes in commercial real estate, and life for that matter, often are consequences of our beliefs and attitudes. Eliminate self-defeating attitudes and beliefs because they will only hurt you.”
3. ”How To Win Friends And Influence People”
Learn how to utilize your most valuable asset: relationships.
Skills can be applied to both personal and professional lives.
With the right “people skills,” investing in commercial real estate will be made easier.
Not directly related to commercial real estate (and nearly a century old), Dale Carnegie’s How To Win Friends And Influence People still remains at the top of our recommendation list for CRE investors – and any other entrepreneur for that matter. If you’re looking for a read that is both entertaining and educational, look no further. Carnegie manages to capture an audience with his informal tone and anecdotal storytelling style all the while teaching readers legitimately useful life and business lessons. You may have to tear yourself away from the business textbook shelves and walk down the “self-help” aisle to find this book, but once you do, you’ll be glad you did.
To let you in on some back story, know that Carnegie started his career not as an author, but as a teacher of public speaking. He lectured at local colleges and YMCAs and eventually gained enough popularity to sell out hotel conference rooms across the world for his renowned public speaking events. After conducting his first 14-week lecture, where he handed out weekly class syllabi, he was immediately approached by a publisher and thus was reborn as an author. So know that when reading Carnegie’s book, you are in the hands of a critically acclaimed professional.
Carnegie’s opening chapter begins bluntly by announcing to readers the 12 specific things they will learn from reading his novel. From increasing your influence, prestige, and ability to get things done to enabling you to win new clients to making you a better speaker and a more entertaining conversationalist, Carnegie covers it all. If you’re looking for a little sneak peak, read on to discover Carnegie’s fundamental techniques for handling (even the worst) people:
Don’t criticize, condemn or complain: Carnegie explains that it is human nature to dislike fault. Therefore, if you want to build a relationship with a potential client, business partner (and even friend) it is of utmost importance to avoid criticism. When we attack an opponent, he or she will become defensive and resent his critic, resulting in a lose-lose scenario for both parties.
Give honest, sincere appreciation: Honest appreciation brings the best out in people, according to Carnegie. More than flattery, meaningful gratitude is a powerful tool that should not go underutilized.
Arouse in the other person an eager want: The goal of any business transaction is for both parties to mutually achieve their objectives, right? This means, we must often surrender our own perspectives in order to adopt those of our competitor (for a brief time, at least.) You can of course clandestinely combine your wants with an opponent’s desires so that he or she is eager to work with you both now and in the future.
4. “Crushing It In Apartments And Commercial Real Estate: How A Small Investor Can Make It Big”
One of the best commercial real estate books of 2019 was actually written a couple of years ago. The latest edition of this book, written in 2017, awards inquisitive investors with many of the tools they will need to navigate the commercial real estate sector. In particular, this book shows how someone with no experience can build a foundation in the real estate industry that can translate into success on an entirely new level. The author seeks to reward his readers with “a simple yet highly effective approach to investing.” This book is a testament to the entire industry, as it is proof that someone with no experience can go from nothing to everything. In this book, readers will learn many valuable lessons, not the least of which include:
How to find and finance commercial real estate
How to build a passive income portfolio with commercial real estate
How to use the status of a small investor to your advantage
How to identify simple, practical ways to increase profit
5. “Mastering The Art Of Commercial Real Estate”
As its name suggests, “Mastering The Art Of Commercial Real Estate” has attempted to make sense of a complex industry. This comprehensive guide is only slightly over a year old, and boasts some of today’s most valuable information. Truly one of the best commercial real estate books on the market, “Mastering The Art Of Commercial Real Estate” will provide investors with everything they need to start investing, and stay investing in commercial real estate.
Don’t waste another moment doing anything other than reading these commercial real estate investing books if you want to achieve success in the industry. If for nothing else, educating one’s self is the surest way to remain a force in this industry. Those who are constantly seeking knowledge will find themselves with an advantage over the competition. Whether it’s reading the best books on commercial real estate investing or listening to a podcast, any attempt to educate yourself will be well worth your while.
Have any other book recommendations? Share your favorites in the comments below:
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