This article is about the five property development books that you need to read.
Actually, I think I’ll throw in a sixth for good measure so make sure you read right through until the end.
No one gets into this business because they want to struggle to get by.
Successfully developing property is about making a substantial profit on a project, and then either walking away or then rolling those funds over into your next one.
We have worked with clients who have settled for one success, but we believe in continual progress and continual profits.
Now knowledge can be gained by pure experience – even as a young property developer.
In this context, that means managing a project from end-to-end, knowing all the working parts and having your contingencies planned.
But knowledge can also be acquired from other sources, like educational videos, websites and – how old school is this – books.
In this article, we’re going to list five different books that you should put on your “to read” list.
Not all of them are directly related to property development, but the others will focus on the growth and profit mindset that you need to have in this game.
So if you’re ready, read on to discover what you should be reading in your spare time. Listed in no particular order.
1. Rich Dad Poor Dad
Rich Dad Poor Dad is the number one selling personal finance book of all time.
And for a topic that has had many books written about it, that’s a significant achievement.
Robert T. Kiyosaki wrote it in 2001.
The book is targeted at parents who want to set their kids up for a wealthy future, but it also contains some stellar personal finance, investment and other advice that you need to know.
In the book, you’ll see how the myth that you need a high income to become rich can be busted, and it also challenges ideas such as your principal place of residence is an asset.
It also details how the main reason many people struggle with financial security and stability throughout their lives is that it isn’t taught in the education system.
We agree – this is something you need to learn for yourself.
Rich Dad Poor Dad clearly explains the difference between an asset and a liability, and how you should focus on acquiring assets that generate a steady income.
As well as some advice on curbing your spending and avoiding debt.
We list it here because it is definitely worth a read, and in property development, your assets are homes that are sold for profit.
Which you can funnel into future developments to generate more wealth.
2. Australian Residential Property Development for Investors
It functions as both a guide for brand new and experienced investor/developers.
The book informs you of every step of the process, with significant stress on being careful, considered and detached – all the things we advise here at Little Fish.
Australian Residential Property Development for Investors also dives into the economics of development, the importance of digital media, cutting-edge cost-saving construction techniques and has a focus on outcomes.
This is another must-read for any aspiring property developer.
3. Rich Habits Poor Habits
Next on our list of property development books is Rich Habits Poor Habits.
Michael Yardney and Tom Corley wrote this book in 2016.
The exciting thing about this book is that it is based on five years of experiential research and interviews of both wealthy people and not wealthy people.
Based on this research, it dives into the different daily habits between the rich and poor.
Now this book isn’t directly related to developing residential real estate, but it does contain some serious gold nuggets that will put you in a wealth mindset.
In this game, your state of mind is as important as the practical aspects of property development.
You need to have a positive, proactive and wealth/growth mindset to succeed.
So if you want to learn which habits to practice each day to become rich, add this book to your “to read” pile.
4. Secrets of the Millionaire Mind
Next up on our list of five property development books that you need to read is Secrets of the Millionaire Mind.
Again, this book is more about mindset than developing land but remember – attitude is super important.
Harv Eker penned this book in 2005. The book has a point like Rich Dad Poor Dad.
It delves into how the kids of wealthy parents pick up behavioural and thinking patterns that can lead them to amass wealth.
Secrets of the Millionaire mind stresses that the values we learn as kids, taught to us by our role models, will chart our financial course in adult life.
The book suggests that if you have inherited the not-so-good aspects of your parent’s relationship with money, you can break away from these norms.
Then you can develop better financial habits.
Also, the book encourages the growth mindset we practice here at Little Fish.
We believe that you need to think big to achieve big, and this book teaches that too.
5. An Intelligent Guide to Australian Property Development
Last, but by no means least, is another Ron Forlee book. He published this one in 2011.
This book is partly mindset tips and partly practical development resources. We like that it’s a healthy balance between the two – as this is the key to success in this game.
Forlee describes the attributes that successful developers share and believe us; these are attributes that you want to develop along the way.
The book also suggests some tips for feasibility studies and profit projections, which are ultra-essential aspects of any project.
A lender won’t cough up the funds if you’re feasibilities aren’t rock solid.
Speaking of finance, the book has some great pointers on how to select the best lender.
As well as how to pick the relevant players that you’ll need to pull off a project.
This book is another must-read for your list of property development books.
6. Positively Geared: How to Build a Multi-million Dollar Property Portfolio from a $40K Deposit
Finally, we’ve included an extra book as a bonus “must-read” for your list.
Lloyd Edge wrote this amazing book just this year, in 2020.
It looks at developing a sustainable angle to acquiring a property portfolio, with clever tips and hacks.
The author began his career as a teacher and begun to grow his own property portfolio with just a $30, 000 deposit.
By the time he was 40, he retired from his teaching job.
He is now a brilliant property investment strategist, and in this book, he divulges his personal story and his strategies.
Positively Geared explores several proven investment strategies, pulls data from real case studies and examples and explains the importance of cash flow, instant equity and growth in this game.
The book also will teach you a strategy to grow a property portfolio and steer you towards financial freedom through investment in real estate.
We thought we’d add this book as a bonus to our list, as it’s practically brand new and is making waves in the sector.
Here we’ve listed five property development books to help you on your way to becoming a successful property developer. We’ve also listed a bonus book.
Three are practical guides to property development/investment, and the other three are more focused on wealth mindset and “thinking” rich.
You’ll need both down pat to get ahead in this game.
As property development consultants we’re always up for a chat if you have questions about property development.
Or we can chat if you’d like to try it on for size. Give our friendly team a call at 1300 799 277 for a no-obligation discussion.