Whether you’re considering going into real estate investment for the first time or looking to invest money and you don’t know how, real estate accounting books are a strong place to start. As a complex and varied area, there are many unique residential and commercial real estate accounting books out there to build your skills, enhance your knowledge and develop a better understanding of the financial side of real estate.
We’ve covered five of the top widely available books to start off your 2023 strong, covering a range of topics for beginners to get you started on your journey. Here are some of the books you may want to pick up:
Commercial Property Investing Explained Simply
Listed as a finalist in Best Personal Finance & Investment Book of the Year at the 2021 Business Book Awards, Commercial Property Investing Explained Simply is an ideal starting point to learn about investing in commercial real estate. Topics included within this book include the various types of commercial property, insight into cash flow and capital growth, and the necessary due diligence when investing in this particular property area.
Steve Palise is widely considered an expert in his field, with more than 1,500 property acquisitions under his belt and a lifetime of knowledge in the accounting required to acquire property for himself and for his clients. As such, this catch-all book includes plenty of the little details you may not know about real estate accounting for commercial premises, such as a guide to the finances in the acquisition process, when selling a property, and when managing loans.
Positively Geared is a relatively short and simple read that provides the building blocks to sustainably build wealth through effective investments, proper management and practical strategies. As an anecdotal story, this finance-focused book offers insight into how to take a powerful approach to property investment, making money both on the purchase of the property as well as following its sale, to build $40,000 up to a multi-million-dollar property portfolio.
Author Lloyd Edge started his career as a teacher and grew his own multi-million-dollar portfolio from a small $30k investment, leading to an early retirement at the age of 40. His expertise in strategy and the finances related to property investment are invaluable to making good choices and proactively working towards success. If you want to know the financial strategy behind property investment in general, for faster growth and with better cash flow, this is one of the real estate accounting books worth picking up.
Bookkeeping for Rentals
If you plan to invest in properties to rent them out in the long term, understanding how to manage your bookkeeping is key. This guide provides insight into the practical, time-saving approaches real estate specialists can take to reduce wastage, improve reporting and maximise loans using the BRRRR method. Each different bookkeeping need at each stage is covered for in-depth step-by-step insight to establish new practices in your own business.
Benjamin Day is the owner of Lionshare Bookkeeping, a specialist company working exclusively with real estate investors to achieve their goals, meet their tax obligations and improve their strategies for less tax and more profit. This genre of real estate accounting books covers in detail the steps you can take in bookkeeping to improve internal practices, reduce wastage and ensure you’re successful. Information on the best tools and software are included for you to explore and investigate.
Property Finance Made Simple
Property Finance Made Simple provides a practical, functional overview of how the finance industry works and what you should consider when applying for finance. This up-to-date book covers the challenges in the finance industry and the effect this has on buyers and sellers in the market regarding access to loans, information about living expenses and more. While not strictly for real estate specialists, this book holds plenty of value for a deeper understanding of industry finances.
Andrew Crossley is a Melbourne-based author with 20 years of experience in private wealth management, alongside specialisation in mortgages and the property industry. His book provides invaluable information about the other side of real estate finances – for the people that may purchase your properties – allowing you in-depth knowledge about how the current market may affect your profit and the finances surrounding investing in properties.
Getting Started in Property Investing For Dummies
As another book in the long-running Dummies series, Getting Started in Property Investing For Dummies, breaks down everything you need to know about starting a new career in property investment if you’re yet to make the leap. This guide covers Australia, with key contents including financing purchases, operating properties and acting as a landlord covered to help you learn all the basics of property investment from the ground up.
Co-authors Bruce Brammall, Eric Tyson and Robert S. Griswold all have unique experience as successful investors, with Brammall operating as a personal finance journalist and advisor in addition. This quick-start guide covers many of the basics you’ll need to know for property investment, with a particular focus on the ongoing costs of real estate and how to operate as a landlord, both of which require specialist accounting knowledge and skills.
Would You Prefer Experts Handle the Accounting?
Property investment can be complicated alone without the need to manage all the ins and out of challenging accounting. Not getting what you want from real estate accounting books? If you’d prefer to leave your finances in the hands of specialists, or you want some specialist advice to get you started, Pherrus can help. Our friendly and knowledgeable accountants have extensive experience in managing accounts within real estate and property investment.
Get in touch with us directly to learn more or learn more about our real estate accounting services online now.