Best book for a 19 year old interested in property?

One of my girls has developed an interest in property - and has a bank account with $16K in it for a future purchase. She always was an unusual kid.
I want to buy her a book on property investing. Yes, she will read a physical book.
Does Rich Dad Poor Dad still have relevance?
What about a Margaret Lomas book? They're an easy read.
I'm just looking for something to give her some general direction - she's years off being able to do anything.
Scott

 

I thought over dinners you would have plenty to provide all the ins outs and tips

None of my kids are interested in properties or finance I wish they do

 

@Depreciator Scott if she wants to read about Property and Taxes can refer her across to the book I have written . It's an ebook but no cost Book | Property Tax Solutions

 

I'll tell her about that ebook, Mike.
I never really talk about property at home, so I'm not sure what planted the seed in her head. Though my kids do know I earn money from rent.
Her 18 year old sister said to me the other day, 'Dad, what's a currency exchange?' I asked her why she wanted to know and she said, 'Oscar at school always has plenty of money and he said he does something or other on the currency exchange.'
I told her after her exams are finished we'll have a chat about the share market. I'll start her on equities and match her initial stake and we'll see what happens.
Maybe I will have one into property and one into shares.
I have told both of them that if they started thinking about investing very early they wouldn't be working when they're my age.

 

Hi Depreciator,

I'd say Rich Dad Poor Dad is still a good start - at least in terms of setting them off to think about accumulation of passive income.

I had been listening to this podcast, about how our education system does not teach kids practical financial education.

I am non monogamous when it comes to investing - both stocks and property. I have used the resources in LIC/LIT forum here in PC, a material on dividend investing. I also talk to friends and family about it - those who ask!

Additionally - my 2 favourite podcasts on basic of stock market
Episode 644: How Much Does This Cow Weigh?
Episode 688: Brilliant Vs. Boring

Cheers.

 

Second Jan Somers books. They are an easy read for a young person. Margaret Lomas books are also very good.

 

Ah, yes, Jan's books. I just went to the closest city bookstore. They had a Lomas book, but no Jan Somers - too old. I bought Rich Dad Poor Dad - some good general principles.

 

Yes and so does a good divorce lawyer

 

Hi Depreciator - try '20 Must Ask Questions For Every Property Investor' by Margarat Lomas.
Also 'From 0 to 130 properties in 3.5 years' by Steve McKnight is good, which focuses on positive cashflow investing.

 

An eye opener for me was, "Building Wealth, Story by Story", Jan Sommers.

Books

A series of short stories about various ways people invest. Easy to read and gets you thinking.

 

I ended up getting Rich Dad Poor Dad - good grounding material. She's some years off being able to think seriously about a property purchase.

 

Peter Spann books (he presents a lot of the "why" not just the "how to"):
Wealth Magic
From Broke to Multi-millionaire in Just 7 Years
How You Could Build a $10 Million Property Portfolio in Just 10 Years

 

I used to own this but it has disappeared now. I recall I thought it was one of the best ones around back then

 

Amazon probably has them (or even sometimes second-hand ones)

 

I seem to recall reading on his blog a year or so ago that @petewargent has written a book specifically tailored to younger people.

 

i concur, i always thought the Jan Somers books were excellent, particularly for someone starting out in property investing.

 

I'd suggest getting a bundle of 5 or 6 books at least to start. Op shops are good source of investment books and $20 will buy the start of an investment library. As a rough generalisation the more 'right wing' religious charities probably have more business / investment oriented books due to the outlook of their donors though individual shops vary a lot.