Some Books About Money That I Like And Why I Like Them
• The Automatic Millionaire and Smart Women Finish Rich
both by David Bach, published by Broadway books.
     Counselors tell us that one of the biggest problem areas in marriage is effective communication about money matters. In both these books, Bach reminds us that our attitudes toward money, and our habits about the use of money will be reflected in everything we do. Developing skill in handling money and practicing new ways to think about money may be the most effective ways to increase our satisfaction with the ways our lives work.
      In both books, Bach leads readers gently along the path to rethinking financial attitudes and to practicing new skills that promise to enhance their lives.

• Rich Dad, Poor Dad,  and other Rich Dad, Poor Dad books
by Robert Kiyosaki, published by Warner Books
     Kiyosaki takes the lessons a step further and encourages readers to learn more about money and the way it flows through society. By comparing two extremes in money attitudes, the rich dad and the poor dad, Kiyosaki illustrates the ways our faulty education about money leaves us ill equipped to prosper in the twenty-first century.

• Your Money or Your Life
by Joe Dominguez and Vicki Robin, published by Penguin
     Dominguez and Robin help readers convert dollars to time. Then the ask the question, “How much time is that trophy car or trophy house worth in the hours of your life?” Again, a different way to compare values of, say, a new car, versus time with your family. As they say, few people come to the end of their lives and say, “I wish I had spent more time with my convertible.”

• Streetwise Investing in Rental Housing 
by H. Roger Neal,  published by Panoply Press
     Neal’s strengths are details—checklists, rules of thumb, and step-by-step schedules. He focuses on small rentals and low entry costs. This 1994 book is somewhat dated for the areas of the country that have experienced booming real estate markets since he encourages new investors to look for fixers, and the fixer market is not as easy to make money in as it was ten years ago.
     However, especially if you want a guide to finding and fixing, Neal is a good place to start.

• The New No-Nonsense Landlord
by Richard H. Jorgensen,  published by McGraw Hill
     Despite the title, this is a good book about buying, fixing, maintaining, and renting small properties. The Landlording referred to in the title doesn’t show up until the last 20% of the book. But when it does, Jorgensen reflects a lot of my own values e.g. the chapter title—Tenants, the Life-blood of the Real Estate Industry.  Well written and easy to read the book is a good guide to most of the facets of the business.

• Investing in Real Estate
by Andrew McLean and Gary Eldred
     This is a college text-book level book on real estate investing. At well over 300 pages is covers every aspect of the topic, including managing rentals and selling through tax-deferred exchanges.
     I use my copy mostly as a reference since any calculation I’ve forgotten how to do will be in this book.

• Profitable Real Estate Investing
by Roger Woodson
     The book covers some decisions new investors need to make in more detail than most books. With full chapters on single-family homes, condos and co-ops, duplexes, triplexes and quads, and five-to-ten unit complexes, the author describes the pros and cons—from his perspective on each of these categories.

• How to Make it When You’re Cash Poor: The New Strategy for Buying Real Estate With Little or No Cash 
by Hollis Norton
     It makes up in enthusiasm what it lacks in details. If you need a cheerleader or a nudge toward investing, this book will do it.

• What’s Your Net Worth? 
by Jennifer Openshaw  
     Openshaw founded the Women’s Financial Network. In her book she relies on the enormous amount of help and information available a mouse-click away to encourage readers to get their financial houses in order. Though she does not focus on real estate alone, Openshaw provides readers with a clear route to financial health. This would be a good book to keep on the shelf for help with the financial decisions that come along in everyone’s life, from what to do about life insurance, to how to finance a new car.

copyright © 2003-2004 Mabel Armstrong. All rights reserved.