BiggerPockets Real Estate Podcast 537: 10 Best Books for Real Estate, Health, and Wealth
Nov 28, 2021
The hosts dive into their top ten influential books that shape paths in real estate, health, and wealth. They discuss how these reads can shift perspectives on life and investing, emphasizing personal growth and effective communication. Exploring the importance of collaboration over solo efforts, they illustrate how teamwork enhances success. Additionally, they highlight the impact of taking ownership in leadership and relationships. The conversation is packed with personal anecdotes and a treasure trove of book recommendations for every investor.
01:00:07
Communicating Effectively
- Speak to the "croc brain" first by addressing fear and risk.
- Then, present logic and rationale to the "neocortex" for better communication.
Overcoming Fear in Investing
- David Greene overcame his fear of a large mortgage payment by rationally analyzing the deal.
- He considered the bank's risk assessment, which helped quiet his "croc brain."
Life Goals and Wealth Building
- The goals of the game dictate how the game is played.
- Reassess your life goals to determine the "rules" of your wealth-building game.
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Intro
00:00 • 2min
Influential Books for Wealth Building in Real Estate
01:32 • 4min
Navigating Real Estate Insights
05:29 • 19min
Transformative Lessons on Life and Masculinity through Literature
24:00 • 4min
Shifting Mindsets: From Solo to Team Approaches in Business
28:01 • 4min
Balancing Collaboration and DIY in Success
32:30 • 6min
Embracing Ownership for Growth
38:13 • 22min
Lifeonaire
An Uncommon Approach to Wealth, Success, and Prosperity
Steve Cook
Shaun McCloskey
Lifeonaire by Steve Cook and Shaun McCloskey offers a fresh perspective on wealth and success, encouraging readers to prioritize life experiences and personal fulfillment over financial accumulation.
The book provides a framework for achieving financial freedom while living a rich and meaningful life.
It emphasizes the importance of defining personal success and avoiding the pitfalls of excessive debt and overcommitment.
The Ruthless Elimination of Hurry
John Mark Comer
In 'The Ruthless Elimination of Hurry', John Mark Comer argues that hurry and busyness are significant enemies of spiritual life.
The book offers a roadmap for staying emotionally healthy and spiritually alive by adopting a slower, simpler way of life.
Comer draws from his personal experiences and spiritual disciplines to provide practical advice on how to slow down and cultivate a deeper intimacy with God. He emphasizes the importance of practices such as prayer, fasting, and sabbath rest to overcome the challenges of modern life and find true fulfillment.
Who Not How
Dan Sullivan
Benjamin Hardy
In 'Who Not How', Dan Sullivan and Dr. Benjamin Hardy introduce the 'Who Not How' framework, which challenges the traditional 'how' mindset by encouraging readers to ask 'who' can help achieve their goals.
This book teaches how to delegate tasks effectively, find experts who can handle specific challenges, and create transformational relationships.
By adopting this mindset, readers can free up time, build supportive teams, and achieve their biggest goals while maintaining personal freedom and reducing burnout.
The Total Money Makeover
Dave Ramsey
The Total Money Makeover provides a comprehensive plan for financial fitness, focusing on seven 'baby steps' to help individuals get out of debt and build wealth.
The steps include saving a $1,000 emergency fund, using the debt-snowball method to pay off debts, saving a 3-6 month emergency fund, investing for retirement, saving for children's college, paying off the home mortgage, and building wealth.
The book also corrects common money myths and offers practical advice based on real-life success stories.
Extreme ownership
How U.S. Navy SEALs Lead and Win
Leif Babin
Jocko Willink
This book by Jocko Willink and Leif Babin focuses on the principle of 'Extreme Ownership,' where leaders take full responsibility for their actions and decisions.
The authors use their experiences in the U.S.
Navy SEALs to illustrate how this mindset can lead to success in any organization.
The book covers various principles such as believing in the mission, checking ego, and leading by example.
It emphasizes that leaders must own all failures, develop plans to overcome them, and ensure their teams are well-conditioned and aligned with the mission.
The authors also stress the importance of humility, discipline, and effective communication in leadership.
Wild at Heart
Mary Ling
In 'Wild at Heart,' John Eldredge argues that men have been conditioned away from their natural instincts and desires for adventure, battle, and exploration.
He posits that men need to reclaim their hearts and live from a place of deep passion and purpose.
The book critiques modern societal expectations and offers a vision of masculinity that is rooted in biblical principles but also acknowledges the need for men to engage in meaningful struggles and adventures.
However, the book has faced criticism for its handling of Scripture and its portrayal of biblical themes.
Rich Dad Poor Dad
What the Rich Teach Their Kids about Money - That the Poor and the Middle Class Do Not
C.P.A. Sharon L. Lechter
Robert Kiyosaki
The book tells the story of Robert Kiyosaki's two fathers: his 'poor dad,' a highly educated but fiscally poor man, and his 'rich dad,' the father of his best friend who was a successful entrepreneur.
It emphasizes the importance of financial education, distinguishing between assets and liabilities, and building wealth through investing in assets such as real estate and businesses.
Kiyosaki argues that a good education and a secure job are not guarantees for financial success and provides practical lessons on how to make money work for you rather than working for money.
The 4 Disciplines of Execution
Achieving Your Wildly Important Goals
Sean Covey
Chris McChesney
Jim Huling
In 'The 4 Disciplines of Execution', authors Chris McChesney, Sean Covey, and Jim Huling provide a framework for organizations to achieve their most important goals.
The book outlines four disciplines: focusing on the wildly important, acting on the lead measures, keeping a compelling scoreboard, and creating a cadence of accountability.
These disciplines help teams and individuals stay focused and motivated to execute their strategies effectively.
Who Moved My Cheese?
Spencer Johnson
The book tells the story of four characters—two mice named Sniff and Scurry, and two 'Littlepeople' named Hem and Haw—living in a maze and searching for their favorite cheese.
When the cheese at their usual spot, Cheese Station C, disappears, the mice adapt quickly and find new cheese at Cheese Station N. However, the Littlepeople struggle with change, with Hem refusing to move and Haw eventually embracing the need to adapt.
The story serves as a cautionary tale about the dangers of complacency and the importance of embracing change to succeed in both personal and professional life.
Traction
Get a Grip on Your Business
Gino Wickman
In Traction, Gino Wickman provides a systematic approach to achieving business success through the Entrepreneurial Operating System (EOS).
The book focuses on six key components: Vision, People, Data, Issues, Process, and Traction.
It helps business leaders clarify their vision, align their leadership team, solve common business problems, and foster healthy communication and discipline within the organization.
The EOS system is designed to help businesses overcome frustrations such as lack of control, people issues, insufficient profit, hitting the ceiling, and feeling stuck.
The book offers practical tools, real-world examples, and actionable strategies to drive sustainable growth and improve business operations.
The Richest Man in Babylon
George Clason
This book, written by George S. Clason, uses a series of parables to convey fundamental principles of personal finance and wealth accumulation.
Published in 1926, it remains highly relevant today, offering practical advice on saving, investing, budgeting, and financial discipline.
The parables are engaging and easy to understand, making complex financial concepts accessible to readers of all backgrounds.
Key principles include paying yourself first, living within your means, and making money work for you through wise investments.
Despite its historical setting, the book's core lessons are adaptable to modern financial practices and have had a profound impact on countless readers worldwide.
Pitch anything
An Innovative Method for Presenting, Persuading, and Winning the Deal
Oren Klaff
In 'Pitch Anything,' Oren Klaff introduces a unique approach to presenting and negotiating, emphasizing the importance of understanding the psychological dynamics involved in sales and negotiation.
The book provides practical strategies for gaining control of the presentation process, creating tension to capture the audience's attention, and securing better deals.
Klaff's method is designed to help individuals present their ideas more effectively and persuasively, without relying on conventional sales techniques.
Sometimes the best real estate books aren’t about real estate at all. Or at least, that’s what Brandon and David found out. After rummaging through their bookshelves, Brandon and David decided to give listeners their top ten books that allowed them to reach financial, spiritual, and personal success. Some of these books include classics you’ve heard mentioned on the show before, while others are centered more on human happiness, problem solving, or relationships.
What’s important to know is that these books can help anyone, no matter what stage of the investing journey they’re in. Whether you’re a veteran or rookie, reading a simple concept, sentence, or quote can fundamentally shift how you think about life and investing. Brandon also runs through a dozen more book recommendations at the end of this episode, so if you’ve already read through the top ten, hang around for that!
In This Episode We Cover:
Brandon and David’s top ten book list (for any type of investor!)
Understanding the different parts of the brain and using it to build better arguments and strengthen relationships
Tweaking the “rules of the game” you’re playing in relation to wealth and happiness
Taking on extreme ownership and using it to become a better leader
Developing confidence and how to do so when you’re feeling lost
Communicating more effectively and allowing others to see through your perspective
And So Much More!
Links from the Show
BiggerPockets Podcast 500: Robert Kiyosaki: America’s ‘Rich Dad’ Sees a Real Estate Crash Coming
https://www.biggerpockets.com/show537
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