By Chris Cobb | Associate
Welcome back to the Big3 with CC, your weekly real estate investment source. Football is officially over for the year. However, college basketball is ramping up. Who is your Big3 (or final four) in college basketball? I’m going with Duke, Purdue, and Auburn. Today we turn inward and focus on professional development. Reading is one thing that all successful people share. Thus, I would like to share my Big3 reading list for investment and real estate:
The Total Money Makeover by Dave Ramsey
The champion of reducing debt and financial wellness offers extremely helpful tips on how to properly manage your money and avoid treacherous pitfalls we hear about every day such as cash advances. In Dave’s eyes, kicking the debt can down the road is a dangerous proposition that has claimed many a person’s financial control. When it comes to investing in real estate, this strategy is crucial.
What Every Real Estate Investor Needs to Know About Cash Flow by Frank Gallinelli
According to Frank, the numbers don’t lie, so keep your primary focus there. It is vital to not let your gut or ego drive important investing decisions. You can find both Marco views of investing strategies and minute details utilized by top professionals and accompanying formulas, which I love because of my background as a math major. Finally, it teaches the reader how to properly uncover certain aspects of a property that could sneak up and cause financial heartache.
Predictably Irrational by Dan Ariely
Curveball alert! This book has more to do with the psychology of decision making, but it draws useful parallels to the world of real estate investing. Pay attention to the example of The Economist and how they attempt to sell their online and print versions to the public. Dan Ariely is a master at pointing out how and why we make certain decisions and how anchoring from prior experiences can adversely affect our future choices in an irrational way.
Take at least 30 minutes a day, immerse yourself in some good, old-fashioned knowledge. Become the next investment guru.
When it concerns real estate, invest yourself.