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I've got my cup of tea here because I'm about to sit down and read a good book. Actually,
it's not tea. It's coffee. Love my caffeine. But today I wanted to talk about the five
best books on property investment that you should read if you're an Australian and considering
investing in property.
Hi, I'm Ryan McLean from PositiveCashFlowAustralia.com.au, where I teach people like you how to find
and invest in positive cash flow property. And if you want more information and detailed
step-by-step guides on how to find positive cash flow properties, then I've put that all
in my product membership site, which is PositiveCashFlowAcademy.com, so you can head over there and sign up if
you're interested in knowing exactly how to find positive cash flow properties. But today
I'm talking about books, and more specifically the five books that I recommend for Australian
property investors.
Book number one, which I have talked about a myriad of times on this podcast, is Steve
McKnight's book, "From 0 to 130 Properties in 3.5 Years". This is my pinnacle of real
estate investing books, and one of the reasons I love this book so much is that when I was
sixteen and when I was about to get on an aeroplane and go on a family holiday, I picked
up this book and made my Dad buy it for me, and it changed the way I thought about property
forever. And it's partly the reason why this website and this video exist today. "From
0 to 130 Properties in 3.5 Years" is great because it shows Steve and his business partner's
venture on how they actually accomplished this feat, and it also goes into details about
individual properties and it looks through the numbers and how he got to the point where
it was positively cash flowed, and what his cash on cash return is. It's a really great
book because it talks about the property market in Australia, it talks about managing your
finances, it looks at how to analyse the cash flow of properties, and overall it's just
a fantastic read. It also covers things like property wraps, which is when you sell via
owner finance when you already have a loan on the property, and it goes into all these
great details, and I recommend it as the number one buy. If you want to get access to that,
you can purchase it through Fishpond, which is an Australian book store. Go to pca.im/130.
That's an affiliate link. You won't pay any more, but it helps to support Positive Cash
Flow Australia, so thank you very much if you go through that.
Book number two is "How to Create an Income for Life", which is by Margaret Lomas. Margaret
has written many books - I think it's going on ten or more now - about investing in property
in Australia, and more specifically investing in positive cash flow property. I remember
reading one of her books. It was "The Pocket Guide to Positive Cash Flow Property", and
I was reading it as I was driving with my Dad from Sydney to Lithgow when I was about
seventeen years old to go out and look at property out there. So I have read many of
her books, and this one, "How to Create an Income for Life", is my favourite of hers,
and it is a great read to teach you not just about investing in positive cash flow property,
but more about how to think about investing in property so you can obtain financial freedom.
And the link is pca.im/incomeforlife. Spell it out how it sounds. Income f-o-r life.
And that leads me into book number three, which is "From 0 to Financial Freedom", which
again is by Steve McKnight but it's his most recent book. Obviously, since 2001 when he
first released "From 0 to 130 Properties in 3.5 Years", the Australian market has changed
dramatically, and the property market isn't what it used to be. And Steve's strategy of
buying cheap properties that were positively geared and buying 130 of them may not work
for every investor today, so Steve takes a fresh look at the property market and how
he would go about achieving financial freedom again, if he was to start investing in 2013
or 2014 or 2015. So "From 0 to Financial Freedom" is a great read that you should get your hands
on as well. Just go to pca.im/freedom if you're interested in that one.
Number four is an oldie, but it's a goodie, and it's "7 Steps to Accelerated Wealth" by
John Fitzgerald. This was one of the first property books that I read after I read Steve
McKnight's book, and it was given to me by my pastor at the time. I went to him, he was
a successful property investor. And I said, "I want to learn about property. I want to
become a successful investor." And he lent me this book to read. It doesn't talk about
positive cash flow property, per say, but it talks about neutral cash flow property,
it talks about building wealth through growing the equity and growing the capital gains,
and even achieving financial freedom through the growth in equity that you can obtain.
So I do suggest reading that book as well. Just go to pca.im/7steps. That's the number
"7" and then steps.
And book number five is "Rich Dad's Guide to Investing" by Robert Kiyosaki. This is
not specifically a property investing book, but it does talk about property investing
in general, and it also goes into more detail about share tradings and using options and
stuff in shares as well. It's a great overview for anyone who's interested in learning more
about investing. The reason I love this book is it leads on from "Rich Dad, Poor Dad" and
"The Cash Flow Quadrant", which are two books that I recommend as well, but he talks about
how he recommends people invest in property because it's like a mini business, and it
helps us to understand cash flow in, cash flow out, and helps us to learn and to manage
that. And I think one of the best things that we can get as investors is experience, and
Robert Kiyosaki just gives us a great overview of investing in general and investing in property
as well. It's a very easy read. He uses lots of stories. I got the audio book and I went
through it in a day, because it was just so good. And that was the second time that I'd
been through it as well.
So there you have the five best books on property investment that I recommend if you're an Australian
property investor or if you're wanting to get into the property market. Again, it's
"From 0 to 130 Properties in 3.5 Years" by Steve McKnight, "How to Create an Income for
Life" by Margaret Lomas, "From 0 to Financial Freedom" by Steve McKnight, "7 Steps to Accelerated
Wealth" by John Fitzgerald, and "Rich Dad's Guide to Investing" by Robert Kiyosaki. The
number one that I recommend is still "From 0 to 130 Properties", and the link for that
if you're listening to the podcast and you didn’t quite catch it, is pca.im/130, and
that will redirect you to Fishpond. I buy all my books through Fishpond.com.au because
it's kind of like Amazon in Australia. Not quite as good, but it has the biggest range
and I find that if I go to a bookstore... Firstly, where do you find a bookstore these
days? So many of them have closed down. But they never have the book that I want. I always
have to order it in, and I may as well just buy it online. It's cheaper anyway. And so
I always go through Fishpond.
So I hope that this helped you look at some books. If you want to look a full list of
thirty books, go to PositiveCashFlowAustralia.com.au/books, and you can get a full list of thirty books
that I recommend. If you get through the five and you want to keep going, then there's more
for you over there. So until tomorrow, stay positive.
Mmm... Coffee so good. Love my caffeine. I've got an Aldi machine. What's it called? Expressi.
And so they’re really cheap and makes a good coffee as well. You warm up the milk
and it makes it all frothy and yummy. Put chocolate on top. I'm going to be buzzing
in the next video, that’s for sure. You're still here. So, here's a link to go to another
video that I recommend if you want to get educated and you want to invest in property
right. It's a video about assets and liabilities and redefining them and not just necessarily
take what the dictionary says or what our accountant says, but actually redefine assets
and liabilities so that they work for us and so that they help us to achieve financial
freedom. Which is our goal anyway, isn't it? Check out this, click the link. And if you're
listening or if you're watching, please subscribe in iTunes or subscribe below in YouTube, because
it helps the channel and it means that you will never miss another episode.