Recommended Reading: Investing
In College Town Real Estate

Investing in single-family homes or condos in college towns is an attractive niche for real-estate investors. A lack of on-campus housing and growing university enrollments combine to create "a tremendous increase in demand" for off-campus housing -- especially at public universities, says Michael H. Zaransky, co-CEO of Prime Property Investors Ltd., a real-estate investment firm in North Brook, Ill. We asked Mr. Zaransky, author of "Profit by Investing in Student Housing: Cash In on the Campus Housing Shortage" (Kaplan Publishing, 2006), for books he'd recommend to buyers looking to invest in the college real-estate market. Here are his picks:

"The Warren Buffet Way: Investment Strategies of the World's Greatest Investor"

 by Robert G. Hagstrom

"This is a great book on investing in general. It teaches the reader the investment techniques of one of the world's best investors. The Warren Buffet philosophy of investing is as applicable to real estate as it is to stocks and companies. A real-estate investor should realize they're buying a business when they're purchasing a building. The cash flow of a real-estate investment depends on how efficiently the business is operated."

"The 7 Deadly Sins of Investing: How to Conquer Your Worst Impulses and Save Your Financial Future"

by Maury Fertig

"Fertig identifies seven human impulses that often lead to failure in investing. The book identifies the emotional pulls that so many fall prey to in making imprudent investments. The book stresses always reviewing your real-estate portfolio and not just holding onto it because you have an emotional attachment to it. The lessons learned are especially applicable to the often ego-driven world of real-estate investing."

"Buy It, Fix It, Sell It… PROFIT!"

by Kevin C. Myers

"In my view, this is the best book written on the small property rehab and flipping real-estate market niche. The techniques described are basic, but are an important part of the skill set required by any real-estate investment entrepreneur. It concentrates on single-family homes and small properties, but the principles are relevant to any real-estate investment."

"Maverick Real Estate Investing: The Art of Buying and Selling Properties Like Trump, Zell, Simon and the World's Greatest Land Owners"

 by Steve Bergsman

"Bergsman shares his unique access to some of the greatest real-estate investors of our day. Interviews with real-estate legends including Sam Zell, Paul Reichman and Douglas Shorenstein yield insights into deal-making techniques and inspiration for all investors seeking to create wealth through real estate."

"How to Buy & Sell Apartment Buildings"

 by Eugene E. Vollucci and Stephen Vollucci

"An excellent presentation and primer on the steps to be taken in evaluating an investment in income-producing property. The book also includes excellent discussions on mortgage financing and rehab turnaround opportunities. It covers each stage of investment from identifying the property to closing the transaction."

"Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money -- That the Poor and Middle Class Do Not!"

 by Robert T. Kiyosaki with Sharon L. Lechter

"The book makes the case for the value of real-estate investment and the use of leverage as the primary creator of wealth in the U.S. It's not real specific on how to do it, but does the best job of inspiring the reader to 'get in the game.'"

"Empire: A Tale of Obsession, Betrayal, and the Battle for an American Icon"

by Mitchell Pacelle

"The detailed accounts of the many transactions leading to changes in ownership of the Empire State Building make for intense and knowledge-filled reading. The author brings the maneuverings for control of one of the world's most famous buildings to life and engages the reader in a novel-like fashion. The real-estate investor will learn much from the sophisticated negotiating and financing techniques described within the narratives."

-- Ms. Mattioli is an editorial assistant at RealEstateJournal.com.

Email your comments to dana.mattioli@wsj.com.