The book on Rental Property Investing- Brandon TurnerWhat are a few books you would recommend to learn the basics of real estate? I’ve read a couple and was very intrigued. Most of our net worth is in our 401ks but we do own some farm and timberland which is real easy to manage on a day to day or even yearly basis. I’d like to take on a rental at some point and see how it goes. My goal would be to eventually have half my net worth in real estate. I don’t even know if it would be practical but eventually I’d love to buy a place in a ski town in Montana or Wyoming (couldn’t afford Jackson or big sky) and see if I can rent it out during the high seasons to break even and then Ultimately own it free and clear when it comes time for me to flee this deteriorating state. Has anybody else bought a condo/cabin somewhere like Red Lodge and been able to make it work through rentals?
Buy, Rehab, Rent, Refinance, Repeat- David Green (I use this strategy a lot)
What every real estate Investor needs to know about cash flow- Frank Gallineli
Recession Proof Real Estate Investing- J. Scott
The Real Estate guys Radio (love this for macroeconomics, not a ton of little details though)
Biggerpockets Real Estate Investing Podcast (need to jump around, but specifically shows 200 and 300 to get started buying)
Vacation Rental Success (for short term rentals, used this one a lot lately as I got my cabin underway)
The daily Real Estate Investor (good nuts and bolts podcast)
There are a few different short term rental forums to check out including biggerpockets which I frequent. Also as an FYI I only manage my short term rental, I have property management for the rest of my portfolio and they do a phenomenal job, but if you hire a bad one it can be really really bad.
The numbers can certainly work with short term rentals. I bought my first one this summer on Lake Superior and have it listed now that renovation is complete with proper permitting and have had 5 bookings in the first 4 days it's been online. It can be a bit of a battle getting the necessary reviews, but I think it's going to be a great long-term investment. It's important to make sure your market allows them, some like Duluth MN do not unless your grandfathered in.