I’ll be straight with you guys: Most real estate books suck. We get a lot of free books here at Y&T from people looking to get at the money in you all’s pockets. It’s not a bad strategy (one we shamelessly used to get plugs for our books), and it’s a nice perk if you’re us, but the vast majority of the books we get are mediocre at best, and glorified sales pitches/infomercials at worst. This goes double for anything in the real estate niche.
Ho Hum, Another Real Estate Book That Wants to Make Me Rich?
The vast majority of real estate books usually centre around either selling you on a specific strategy or process that only the authors have mastered (and that you need to pay thousands of dollars to really put to use yourself) or are merely a big picture discussion about how real estate can be a great asset class. It’s nice to know that some people make money with real estate and that mortgages are a decent way to use leverage most of the time, but it doesn’t really tell me the nuts and bolts of how I’m supposed to do anything like that.
This book is the exception to the prejudices and stereotypes that I had about the niche – and it is written with the Canadian market in mind! Julie Broad is the author, and if you’re not sure about her financial chops you’re free to look her up and see that she has an MBA as well as some pretty good experience within the industry. The interesting thing about how this book got into my hands is that Mrs. Broad didn’t just send me a copy and paste generic email asking for some very juice, she actually took the time to read and comment on a recent article I’d written about investing in building new townhouses to rent in Saskatoon. I’m fairly certain she’s up for answering more questions if you ask her on the comment thread.
So anyway, what makes this book different? Well the first thing you realize is that this woman isn’t just selling you the dream. She is right up front with of the biggest headaches she has encountered in her time dealing with real estate. I’m not talking about having to install a new toilet, I mean stuff like being stolen from by a crooked property manager, ending up in criminal news headlines through no fault of her own, and dealing with insane knife-wielding clients (it was a butter knife – but still!). I think this is commendable and it gives the book a huge degree of credibility in my eyes. Continue Reading