Foreclosures can be a smart way to invest in real estate — not to mention save money in the process. In fact, according to ATTOM Data Solutions, the average foreclosure property sold for a mere $130,150 in the third quarter of this year. Compared to the typical price of an existing home ($313,000, according to the National Association of Realtors), that’s some serious savings. Another nice benefit? Foreclosures may soon be on the rise. And with inventory elsewhere in the housing market limited, it could mean access to even more deals a few months down the line.
Are you interested in dipping your toes in the foreclosure investing waters? Just want to be prepared for the changing market? These seven books on foreclosure investing can help.
If you’re new to the world of buying foreclosures, this one’s for you. The insightful book breaks down the foreclosure process into easily digestible steps, from finding the right property and doing due diligence to bidding and financing. It’s all there in black and white. Here’s what one reader had to say about it: “This book was great, especially for beginners … It’s well-written and like a cookbook, giving step-by-step directions on what and how to do it!”
This book covers it all: how to find properties before they’ve gone public, how to buy at all stages of the foreclosure process, little-known resources for distressed homes, how to price your offers, and much more. If you’re planning to flip or rent out your properties, you can try Berges’ other books, too, including The Complete Guide to Flipping Properties and The Complete Guide to Investing in Rental Properties.
Written by long-time real estate brokers, lenders, and attorneys, this book hits all the major facets of buying and investing in foreclosures. You’ll learn about property research, financing, limiting repair and remodeling costs, and more. As one reviewer put it, “It is the most step-by-step, complete guide to understanding the foreclosure process and buying foreclosures available.”
If you’re interested in investing in foreclosure deeds, Sausa’s book can help. You’ll also learn about tax lien investments — all in seven days or less (or so says the book!). The tome currently has four out of five stars on Amazon. Readers say it’s great for beginners, especially those looking to utilize online auctions.
Want some major hand-holding? Try this book, which offers up 40-plus foreclosure listings sites you can mine for potential properties. It also delves into market analysis, determining your offer price, minimizing risk, and structuring your exit strategy.
This one delves into buying pre-foreclosures — homes still in the process of foreclosure and not yet publicly available. The book was met with largely glowing reviews (4.1 out of 5 stars on Amazon). One reader even says, “I am blown away by the amount of useful information provided in this book.”
Want to learn from someone who’s succeeded in foreclosure investing? Give this book a read. Over the course of seven years, writer Joe Neilson invested in 62 houses, eventually making $22,000 per month and building $3 million in equity. Learn about his methods and get access to his personal spreadsheets and calculations in this 146-page guidebook.
Need more reading material?
Want to study up on other areas of real estate investing? Try our guides to the best books on the following topics:
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