When I talk with folks who want to transition into a career in real estate, I often get asked for book recommendations. Here is a list of the seven books that I most regularly recommend. This is not a comprehensive list, but I cover a broad range of topics from finance to development to zoning to parking. So, in no particular order, here are the seven books, I recommend most:
The first book that I recommend is also the first book that was ever recommended to me when I was exploring studying real estate in graduate school. The Real Estate Game by William Poorvu. This is probably my most recommended book to read for folks who are interested in development, as it covers all the basics in a detailed but easy to follow manner. Poorvu also gives you case studies and real-world examples of how to create value through real estate development.
The next book is The Color of Law by Richard Rothstein. This is one of two books that I recommend that delve into the topic of land use regulation and race. They are both very difficult and gut-wrenching reads, but I think they are very important topics for everybody to understand, if you are at all involved in the built environment. The Color of Law covers a range of topics at the intersection of race and zoning and planning and how the color of someone’s skin has affected their lives through the lens of real estate. The subtitle of the book is The Forgotten History of How Our Government Segregated America. What struck me as I read the book was that the “Forgotten History” referenced in the subtitle was not that long ago. I ignorantly assumed that that history was long ago and as you read the book you find that many of these segregation policies and practices were in effect through the 70s and 80s, and in some cases 90s. Well past when I would have thought segregation ended.
The next book on race is called Race for Profit by Keeanga-Yamahtta Taylor. This is a much more academic and in-depth study on how the federal government and federal agencies, and the banking and lending industry specifically impacted the built environment for the different races in the United States. Again, a difficult read, but I think a very important topic.
On a lighter note, The High Cost of Free Parking by Donald Shoup is the end-all-be-all tome of parking and its impact on our cities and our daily life. Parking is not something a lot of people think about very often (unless you cannot find a spot), but parking in America has a huge impact on how our cities are shaped and how people interact with the built environment daily. This book is probably the book I have flagged and highlighted the most of any book I have read.
Next, and in a similar “city shaping” vein is Walkable City by Jeff speck. This book is a primer on the pedestrian aspect of the built environment and how we can make our cities more walkable. The book covers theory as well as implementation and Jeff does a great job of explaining how different portions of the pedestrian environment interact with the built environment and how we as planners and real estate professionals can improve our cities through walkability.
My last two recommendations are not exactly real estate specific books, but they are books that I think are fun and easy to read and have great ideas on how to think differently. I think real estate is an industry that is ripe for change and disruption, and I think these two books put you in the mindset of how to think about doing things differently from the way they have always been done. Let My People Go Surfing by Patagonia CEO and founder Yvon Chouinard and Anything You Want by Derek Sivers, are classics. Both books are easy reads that will get the juices flowing on how to think about the industry differently, and how to think about creating the industry and outcomes that we want to see in the future.
Now it is your turn, what books do you recommend? If you have read these books and are looking for additional recommendations, or have suggestions for me, please hit me up on twitter, @OakCityCRE.
