Assets & Liabilities Concept
1. Rich Dad Poor Dad
This book is an eye opener for me as it made me understand the difference between assets and liabilities. It teaches us to increase our financial literacy. A lot of adults make wrong financial decision due to lack of financial knowledge and never been taught at school on personal finance.
This book triggered me to read other books on investment.
Manage Effectively Own Personal Finance Before Investing
Rich Dad Poor Dad made me wants to invest in real estate and stocks. However, I didn’t start investing directly as I think I need to manage well first my personal finance and to have the right behaviour to become financially free.
1. The Millionaire Next Door – Thomas J Stanley
The Millionaire Next Door is based on real survey on millionaire. It concludes most millionaire doesn’t spend their money extravagantly. They are frugal! I adopts few of behavior of millionaire into my lifestyle. Example, before reading this I was driving expensive car, now I just drive small non expensive but reliable that is no loan on it!.
2. Total Money Make Over – Dave Ramsey
Total Money Make Over, push me further on handling my personal finance. No debt and have emergency fund for rainy days. Only then start investing aggressively.
Investing In Real Estates
After I have my monthly budget, settle off certain of my debts. I started to invest in real estate. I scout around a lot of properties, evaluate based on given tips, add my on way of evaluation. Do the ROI calculation etc. I do that based on below books.
1. The Weekend Millionaire’s Secrets To Investing in Real Estate – Mike Summey & Roger Dawson
It taught me how to invest in real estate, how to come out with a deal and at same time how to negotiate. The steps mentioned are clear, pragmatic and realistic but of course not all can be applied in Malaysia. I read lots of property investment books this is one of my top choices.
2. How You Can Become A Multi Millionaire Real Estate Investor!
I read this book to understand what is the cost of legal fee on Sales & Purchase agreement, loan agreement and others where it is applicable in Malaysian properties investment. It taught me how to understand the process as well.