Book Description
Pre-foreclosure real estate is one of the hottest investment opportunities on the market. The Pre-Foreclosure Property Investors Kit offers step-by-step instruction and no-nonsense advice on how to find great deals, estimate fair market value, negotiate with sellers, sell your property on your own, and win big in real estate. Youll learn how to get the best deals on foreclosure properties before they go to auction and utilize simple ready-made worksheets, checklists, forms, and agreements that make getting started easy. Even people of modest means can get into pre-foreclosure investing—all it takes is a little hard work, persistence, and the tools youll find in this handy guide.
Customer Reviews:
Great Information! The best investment book I have read to date. .......2007-09-28
This book is simple, straight forward, and realistic. The author does a great job. The book is full of excellent strategies and advice.
Very Good Resource .......2007-09-24
This book provides excellent insight for buying pre-foreclosures. It is well-written, easy to understand, and insightful. The only problem is that it does not give relevant economic information to investors to navigate the real estate bubble. However, I do not fault the author for that since they are really two seperate topics. To fill this gap I would also recommend Cashing in on the Real Estate Bubble. This book focuses on the economic aspect of teh bubble and presents a survey of the best methods to make money from the real estate mess.
If you want to buy pre-foreclosures, I would recommend both books - this one for instructions on how to handle foreclosures and the other (Cashing in on the Real Estate Bubble) as an economic resource. Together, I feel they have given me a huge edge.
Ok content, misleading promise.............2007-09-16
The content of the book is solid and practical. However, don't believe the author's statement in the book that he will answer questions sent to him directly via email. I sent repeated emails to Mr. Lucier requesting clarification of a couple scenarios from the book and have had no responses.
Excellant with lots of meat........2007-08-26
This book will not do the job for you rather it will make you think. Granted the author is a little odd but, the information is true to fact. You start to think when you read this book and then the inspiration comes. This book is only a stepping block to great things. I apply this and a lot of other information and I make a great living. I hope people do not like this book so, I can eliminate the competition. LOL
This book is a winner!.......2007-07-16
I am a retired real estate broker in Nevada and an associate broker in Utah. This book is full of details on exactly how to go about purchasing pre-forclosure properties. Author includes websites to research for additional information, form to be used in your quest to find pre-foreclosure properties and his personal email address if you get really stuck. I would recommend this book to anyone who is really interested in improving their income.
Book Description
The Pre-Foreclosure Real Estate Handbook explains everything you need to know to locate and purchase real estate bargains from banks, public auctions, and other sources. Whether you are a first-time homeowner or an experienced property investor, The Pre-Foreclosure Real Estate Handbook is a tremendous guide for buying pre-foreclosed homes in any market. You will learn the simple formula (developed from real-life experience) that can build massive wealth through real estate foreclosures.
The Federal Reserve Bank indicates"....that foreclosed properties average 22% less than typical properties."
Home foreclosures are at their highest peak in years; you can be one of the thousands earning six-figure incomes in this lucrative segment of the real estate marketplace. You can do this part-time or full-time. Learn how to buy directly from property owners whose mortgage loans are in default and stay away from courthouse-bidding feuds. With the help of this new book, property investing can be a very lucrative line of work. You will learn how to identify the most valuable properties and control every step of the procedure.
We spent thousands of hours interviewing, e-mailing, and communicating with hundreds of today's most successful real estate investors. If you are interested in learning hundreds of hints, tricks, and secrets on how to make money (or more money) investing in real estate foreclosures, then this book is for you!
The Pre-Foreclosure Real Estate Handbook is the resource for novices and pros alike; it will guide you through every step of the process including finding properties, negotiating, and closing on your first deal. This new exhaustively researched book will arm you with hundreds of innovative ideas that you can put to use right away. This book gives you the proven strategies, innovative ideas, and case studies from experts to help you get more with less time and effort.
Customer Reviews:
Good Background Information.......2007-09-20
This material is good basic information for anyone wanting to get started in buying potential foreclosure properties. Begins by explaining basic terms and processes - eg. mortgage foreclosures lead to Sheriff's Sales, while Deeds of Trust lead to "Trustee's Sales" and lack a redemption period (owners can buy back their property during this period, leaving you with nothing to show for your effort, though you do get your money back).
On average, foreclosure buyers have 90 days + 20 days publication time to work a deal with the homeowners. Buying from onwers prior to foreclosure also eliminates the redemption period. FHA and VA loans are much more likely to be assumable.
Buying at auction means having to contend with competitors, an inability to inspect the property prior to bidding, and all sales being final. After foreclosure one is less likely to get a good price, it is harder to inspect the property (utilities probably turned off).
Finding foreclosure properties is eased by looking in public records for "Lis Pendens" (judicial process) or the "Notice of Default" (non-judicial process); there is also the later Foreclosure Auction notice. Other sources include looking in the newspaper of record and/or the County Recorder database. Still other sources include divorce proceedings (likely problems with the lawyers involved), probate filings, FSBO listings, Internet sites (eg. foreclosure(s).com, street signs, Internet ads.
Author also recommends a full title search ($100-$350), and contracts written "Subject to" eg. inspections.
great book.......2007-03-08
i wanted to learn about investing in foreclosures so i purchased this book. it's full of resources and solid advice. it's obvious that the writer has much experience in this field. the writing is easy to read and humorous at times. highly recommended.
Pre-Foreclosure R.E. Handbook.......2007-03-04
Excellent book, writer F. Orlando give's Great insight to
the whole foreclosure process and the way to approach
this business investment. Book written in Easy to read
style, with good legal issues to consider in this business.
Great Read!
Very good for beginners.......2007-01-22
The book's strategy offers a simple method for identification for properties, including how to approach owners AND lenders. Sending attractive offers such as short sales and how to wait out lender approval. This is a very good read for beginners wanting to enter into the foreclosure market, especially in the current situation of higher interest rates and lower consumer demand for real estate. There will be a spike of foreclosures.
-Matt
Illustrator for The Ultimate Foreclosure Kit
The Pre-Foreclosure Real Estate Handbook: Insider Secrets to Locating and Purchasing Pre-Foreclosed Properties in Any Market.......2006-12-28
The Pre-Foreclosure Real Estate Handbook: Insider Secrets to Locating and Purchasing Pre-Foreclosed Properties in Any Market by Frankie Orlando is an excellent resource for people seeking information in a practical, hands-on approach to purchasing pre-foreclosure real estate. The text is organized in a logical manner with sufficient examples and clear explanations of the concepts presented. Although the text is very easy to follow, it also includes an extensive glossary to assist with the more difficult terminology used throughout. Step-by-step instructions and worksheets that are included are particularly useful. This text is recommended with a 5 star rating out of 5 stars.
Book Description
MAKE MONEY IN SHORT-SALE FORECLOSURES
Foreclosures are the most profitable way to invest in real estate. But most real estate books on foreclosures don't tell you how to invest in short-sale foreclosures—properties with even more profit potential than regular foreclosures. A short-sale foreclosure is a lender accepting a loan payoff for less than the amount owed. This comprehensive new guide from renowned real estate authors Chantal and Bill Carey covers all the ins and outs of short-sale foreclosure investing, from finding properties to negotiating with lenders, to closing the deal and making a bundle. Inside you'll find all the information you need to succeed:
- Finding great short-sale foreclosure deals
- Dealing with owners in financial distress
- When to buy short-sale foreclosures
- Creating equity in foreclosure properties
- Writing successful short-sale offers
- FHA, VA, and private mortgage insurance short-sales
- Purchasing short-sale properties at auction
- Understanding escrow, closing, and title insurance
- Flipping short-sale properties
Customer Reviews:
Slightly helpful - Maybe.......2007-01-27
The book has a couple good points, and is probably benefical to a novice pre-foreclosure investor, but is not worth the time or money of any pre-foreclosure investor thats ever closed a deal before. Most of the examples in the book 'window dressed' profits on deals by not listing all expenses involved.
Solid information.......2007-01-16
I found this book pretty good.... It definitely spelled out all the details of short sales.... I think for property investors trying to understand exactly what is involved with short sale purchases this book is perfect. The book was written at a level that I enjoyed....not overly complicated.
Review.......2006-08-13
I was extemely disappointed in this book. In the title ........How to Bypass Owners and Buy Directly from Lenders....Yet on page 93 you learn that this is NOT possible as you must have the owners permission prior to ever contacting their lender. I found the title misleading as to the content.
One of my top three real estate investing books.......2006-05-21
This book will help you accurately determine the market value of a property. Looking back, I can take Bill and Chantal's way to determine this and realize my mistakes. There were times I had properties in my hand but was too low on my market value comps. Also what I learned from this book was when to know it is a property for a short sale (less than 15% equity) and when it is not. Did you know that 95% of investors out there, according to Bill and Chantal, will walk away and not bother with short sales? This book outlines the steps to follow the process of negotiating a short sale and have it come out in your favor. Very good read!!! It is hot off the press.
Book Description
Find the sound investments among the foreclosures. Covering both bank-owned and government-owned properties, this book focuses on helping buyers distinguish between good foreclosure investments and those plagued with liens and other pitfalls. Readers will learn about the benefits of buying foreclosures; foreclosure timeline and process; the different types of foreclosures; finding pre- foreclosed properties; important pre-purchase pitfalls; buying at an auction; and more.
• The national residential foreclosure rate rose to from 1 to 1.23% (of all mortgages) by the end of 2003—the biggest jump in 30 years
• Foreclosures are expected to increase as interest rates rise and monthly payments on short-term variable rate and interest-only loans begin to follow (Realty Times)
Customer Reviews:
CID Guide to Buying Foreclosures.......2007-05-06
Sunday, May 6, 2007
For a newbie, this is an excellent introduction. It shows you the way to proceed, if you're serious about trying. For the price, it is a bargin and should be kept as a reference. If you're like me, a yellow lighter can be quite helpfull. Well worth the price when you consider the large sums of money that can be involved.
Very Insightful.......2007-03-10
This is a very informative book. It doesn't mess around with a lot of fluff. I highly recomend it!
Provides solid information worthy of the Complete Idiot Guide series.......2007-01-22
I've always enjoyed the Complete Idiot Guide series. Why? Because it delivers the message down to earth. It takes highly complexed legal matters and shows you step by step on how to invest in foreclosures. If you want to make money in foreclosures or have wanted to invest in them, you need to read this book.
Matt
Illustrator for the Ultimate Foreclosure Kit (ISBN 0978834658)
READ ME FIRST - A comical and resourceful guide.......2006-11-13
This is a comical and resourceful guide to foreclosures, offering an easy to read handbook on how to invest in govt or bank foreclosed properties. Other titles that helped me about foreclosures -- Investing With out Losing: The Beginner's Guide to Real Estate Tax Lien and Tax Deed Auctions
Provides good information for getting started.......2006-11-07
Provides a large amount of information in a concise but easy-to-read format. Considering all of the nuances of buying foreclosures, from the legal considerations to the occupation stage, the author does a good job of capturing and conveying the essentials. The author also does a good job of communicating both public and private foreclosure opportunities, which is important in many states.
The author focuses primarily on 'investing in foreclosures' vs. 'buying a foreclosure for your primary residence.' Consider this when comparing to other books.
Could have used more specific information on where to look for foreclosure opportunities, but the book does mention that actively searching and networking is a key to the game.
Overall, a good, easy read with valuable information for anyone wishing to enhance their real estate expertise.
Book Description
Life can be tough for real estate professionals these days. Even with interest rates at historically low levels, the uncertain economy makes homeowners hesitant to relocate or trade up. There just aren't that many clients out there, and the few who exist generate fierce competition. In fact, it seems the single ""hot area"" is foreclosures. But that's not necessarily bad news.
Conti and Finkel's book is a good ""crash course"" for real estate brokers and agents wanting to understand this area and explains the intricacies involved in funding investment deals, using various buying/closing methods and employing exit strategies. Thanks to the book as well as workshops and seminars offered by the two authors, thousands of people each year learn the art of lucrative real estate investing.
Customer Reviews:
Powerful evidence .......2007-05-25
Making Big Money Investing in Foreclosures without cash or credit is a morally courageous examination of real estate investing!! Peter Conti gives powerful evidence of new ways of investing. In this successful oriented book the author minimizes risk taking and explores objective ways towards successful investing. Must read!!
Excellent overview of Foreclosure purchasing.......2006-12-22
I had run across my first pre-forclosure deal and needed to get a basic understanding of the steps and processes. Peter and David's book provided that wonderfully. I was able to use the steps and scripts to sign up a deal, provide help to a stressed-out seller and reach the proper department at the lender. The suggestions of how to talk to both the seller and the lender have been very helpful with dealing with the human side of things. I felt very comfortable with the style and the seller has been very appreciative. I didn't feel manipulative at all.
Making Big Money Investing in Foreclosures: Without Cash or Credit by Peter Conti.......2006-11-09
An official Library Weekly book review.
REVIEW:
This book generically highlights a few ideas on how to invest in
foreclosures and how to finance it without using cash or credit.
Part of the formula is the use of "double closings" which allows
you to simply invest with a minimal amount and use the sell price
as the payment during the title closing. The difficult aspect of
this is it doesn't truly describe certain foreclosure techniques
available in each state (generically applied). Additionally,
you may need to read this with a grain of salt with the current
real estate market conditions.
OTHER RECOMMENDATIONS ON FORECLOSURES:
1. The Beginner's Guide to Real Estate Tax Lien and Tax Deed Auctions [ISBN 0978834607]
EXCERPT:
"There's never a better time to invest in real estate."
RATING:
3 of 5
Another Finkel disaster.......2006-06-28
How to get the most money for your property. This topic, worthy of a book, gets a couple of pages which are platitudes. This is the second book of his I've read recently in which he talks about determining the market price. The approach he advocates will result in a variance with the market of 40%, if not more. And, he lumps apartment buildings in with houses as if they were valued the same way. Of course, they are not.
On the plus side, in this book he recognizes that people do tend to get legal advice before signing a contract. He tells you how to diffuse the lawyer's criticism before it happens.
During my years as an apartment broker, I dealt with more than a few lawyers, including clients. Maybe his approach will work, but I'd think not.
This is another feel-good, cheerleading book. Rich Dad, Poor Dad does a better job of cheerleading, but has even less substance than this lightweight work.
Once again, the author has silly sales techniques that don't work. Once again, let me point you to the best writer in sales: Neil Rackham.
Spare yourself time, money and effort. Pass on everything David Finkel writes or promotes (as I shall hereafter).
Wish they would hire a prof'l editor for all their books........2006-03-27
I own and/or have read their other books and regretfully have to say that their books aren't professionally edited. Their works seem to project an "aw shucks" tone but I find them to contain too much hyperbole.
I don't bother with their new books anymore since the writing is tiresome and predictable. They may have new information to share but that fact is lost because of the book's poor editorial presentation.
Book Description
"... want to buy a house or other real estate below market value? If so, read this book."--Robert J. Bruss, syndicated real estate columnist
Home foreclosures are at a ten-year high, and this new edition of Melissa Kollen-Rice's bestselling guide fills readers in on everything they need to know to find and finance real estate bargains from banks, S&Ls, public auctions, government agencies, and other sources. Packed with worksheets, checklists, and contact directories, Buying Real Estate Foreclosures is the resource for novices and pros alike. This fully revised and updated edition features:
- Guidance on pitfalls, hidden costs, sources of foreclosure lists, and creative financing strategies
- Valuable sample forms and documents
- A new chapter--"What the banks don't want you to know: why are they so motivated to sell?"
- New strategies to help investors cut through the red tape
- In-depth discussions of the benefits and risks of all types of financing
- A completely updated pre-bid checklist
Download Description
"""... want to buy a house or other real estate below market value? If so, read this book.""--Robert J. Bruss, syndicated real estate columnist Home foreclosures are at a ten-year high, and this new edition of Melissa Kollen-Rice's bestselling guide fills readers in on everything they need to know to find and finance real estate bargains from banks, S&Ls, public auctions, government agencies, and other sources. Packed with worksheets, checklists, and contact directories, Buying Real Estate Foreclosures is the resource for novices and pros alike. This fully revised and updated edition features: Guidance on pitfalls, hidden costs, sources of foreclosure lists, and creative financing strategies Valuable sample forms and documents A new chapter--""What the banks don't want you to know: why are they so motivated to sell?"" New strategies to help investors cut through the red tape In-depth discussions of the benefits and risks of all types of financing A completely updated pre-bid checklist
Customer Reviews:
I don't know what I don't know yet........2007-08-13
Although I have my Florida Real Estate License (which needs to be updated), I've never bought or sold investment properties or any other type of Real Estate. My original plan was to sale Time Share, but 911 through a wrench in my plans. Since I've never bought an investment property, I confess that I don't know what I don't know, so read this review with a caution. While a lot of reviews warned against it, I bought this book and read it anyway and I thought it was a pretty good read. Granted it's the first book I've ever read concerning the subject of foreclosures. With that said, I thought the information related to the choosing, vetting and paying of contractors was informative and the sections on financing were enlightening. I'm not saying this book is the bible of foreclosures, but I think it's a good place to start your research. I gave it four stars because it's a fast and easy, to the point read, that's chalked full of information.
Ok f or a place to start.......2007-06-19
Was very basic and general, but a good overall summary of the process. If your looking for more info than that I would suggest finding a more extensive book. Ended up w/ idiot's guide and now have much more of the info I needed.
Really Good Read.......2007-05-03
Excellent book! I book is full of very useful information. Everyone can can find several useful items in this book, no matter how much knowledge you have.
Good financing chapter.......2007-02-05
This book has excellent chapters on how to finance your investments in foreclosures or bank-owned properties. Other information is relatively okay, but the finance information is important and gives people the hope that you don't really need to have the capital immediately to purchase something at a discount.
With the current real estate cycle, foreclosures are truly increasing tenfold and if you are just starting out in real estate, this is one of those opportunities that you simply cannot ignore. Invest now to make your move, an investment in this book and other foreclosure books can not only help you be smarter, but may make you richer.
-Matt
Illustrator for the Ultimate Foreclosure Kit
(ISBN 0978834658)
A Decent Read .......2007-01-13
This book was a decent read. I found other books to be better, but I was not unhappy that I bought it.
Book Description
The Complete Guide to Investing in Foreclosures offers practical, proactive strategies for buying and selling foreclosed properties at a huge profit -- without taking undue risks that can quickly turn a promising real estate portfolio into a mess. The book shows readers how to find properties in all stages of foreclosure -- often before they become public knowledge -- and how to focus on real value, not just price. Investors will learn how to take advantage of little-known alternatives not thoroughly covered by most competitive books, including HUD, VA, SBA and IRS properties, Fannie Mae and Freddie Mac foreclosures, pre- and post-foreclosure opportunities, and much, much more. The Complete Guide to Investing in Foreclosures doesn't just offer the best strategies for individual foreclosures, it also presents a workable plan for developing a full-fledged investment program -- all in the reader's spare time. Packed with value assessment tools, lead generation strategies, step-by-step processes, and the all-important 7 Caveats of Investing in Foreclosures, this is a must-have resource for first-time and veteran real estate investors alike.
Customer Reviews:
Garbage.......2007-04-17
I was a sucker for buying it. You don't have to be.
The negative reviews are on target.
Please Do Not Waste Time With This Horrible Book.......2007-01-10
This book was simply horrible. It was not one bit practical. All it does is teach its readers how foreclosures work. Furthermore, it does a horrible job explaining how they work. Berges, your ripped me off. I want my money back you crook.
The Complete Guide to Investing in Foreclosures by Steve Berges.......2006-11-08
An official Library Weekly book review.
EXCERPT:
The primary key to success in the process of buying and selling foreclosed properties is not only to
understand the process, but also to act on the information...
RATING:
5 of 5
REVIEW:
Steve Berges delivers an interesting look into the world of foreclosures, finding investment
properties through court records and also through specific external web sites that provide
info on properties about to foreclose. We know that foreclosure is an ugly reality on the real
estate market, but it is happening daily and many investors simply don't know the steps on how
to start. This book not only an introduction but it also guides you through your baby steps.
A good buy!
OTHER RECOMMENDATIONS:
1. The Beginner's Guide to Real Estate Tax Lien and Tax Deed Auctions [ISBN 0978834607 at other online bookstores]
2. The Beginner's Guide to Real Estate Investing [ISBN 047164711X]
not even enough information to be dangerous.......2006-08-21
This is a basic beginnger's guide, and has more tangential information than relevant content. In fact, many chapters read like extended glossaries.
I have no idea why there is a full religious chapter about faith, family, and friends. Christian parables can make good reading but do not fit here.
Very helpful info ... but there is one little problem........2006-07-25
And that little problem is the physical construction of the book. The publisher has choosen to cram what seems like twice the normal text onto each and every page, which makes for very difficult reading. I was tempted to OCR scan the book and produce more reader-friendly pages from my computer, but eventually adapted to the problem.
And the book is a bit wordy, I thought, spending more time than necessary on many topics ... we all suffer from info overload and authors who scrimp on the prose and cut right to the chase are much appreciated.
But aside from these personal complaints, the book does offer much valuable info for anyone interested in foreclosure investing. For example, the author clearly points out the especially fertile opportunities in properties that are in the redemption phase, after the foreclosure sale.
All in all, I recommend the book, and the author's other books as well, with the suggestion that he might seek out a good copy editor before writing that next book ... :)
Customer Reviews:
Good Starting Info.......2007-03-25
The current state of the real estate market and looming foreclosures promises the foreclosure market will be booming in the near future. Now is a great time to start learning about this investment opportunity, and Dallow's book is a good place to begin. Dallow discusses the foreclosure process and provides in-depth info on these important subjects, among others:
Figuring out where to find properties for sale.
Assessing closing costs.
The need for a lawyer.
Calculating a good bid.
Estimating repair costs.
This is a good read. For more information on achieving financial success, you may want to read "The 17 Principles of Creating Wealth," by Phillip Collinsworth.
Confusing but studded with gems here and there..........2004-12-04
The review stating this book is confusing in places is right on the money. I'm a second year medical student and still had to draw out diagrams and read some pages several times. The author is in Real Estate, not writing. That being said, there is a good deal to be learned here. I've read several "High Energy" Real Estate books that gloss over the potential difficulties to investing, but this book HIGHLIGHTS them and steers you clear. The recommendations about "Deed In Lieu of Foreclosure" and REOs are terrific. I would recommend this book simply on the merit of a realistic outlook to Real Estate investing.
One caveat, I own no Real Estate myself and still am in the education phase of investing, so I cannot comment on real world applicability. If you are interested in other books that have more conservative view of Real Estate, try Investing In Real Estate, 4th Edition and How to Succeed and Make Money with Your First Rental House by Douglas A. Keipper. These are very good and provide many details.
Much better than more popular books.......2004-10-02
I don't know what the negative reviewers have read to call this book vague or undetailed. It is the MOST step-by-step, complete guide to understanding the foreclosure process and buying foreclosures available. And it doesn't rely on shady, unethical methods that attempt to hoodwink distressed homeowners and fool banks in "subject to" agreements which can put the unsuspecting investing novice into very hot water. The methods in this book are straightforward, legal, and even ethical. If you are looking at buying foreclosures to buy a home to own, to get a great deal and move up in the world, or to invest, BUY THIS BOOK!!
How to Buy Foreclosed Real Estate by Darrow.......2004-08-23
The author explains classic reasons for foreclosures.
i.e. marital discord He indicates that deeding a property
to the new owner can be simpler than going through the many
details of the foreclosure process. Tax sales provide a
perspective owner with the right to acquire a property when the
1-2 year statutory period for redemption has tolled. HUD homes
can be purchased for the title cost and recording the deed.
The author cautions us to inspect the property thoroughly and
do a title search. In addition, it is critical to isolate
critical repairs which can add significant value to a property.
The book is worth the price charged if you are patient and
willing to implement the techniques explained by the author.
Not Very Detailed.......2004-01-31
This is very average book. It will help you a little bit but it doesn't give you all the info you need to make such a risky decision. It skims through, not giving much detail on process, nor explaining how to make a profit. The set up of the book is pretty confusing. Doesn't seem to flow, it jus jumps around & will make you confused. The one good thing about the book is that it does do a very good job on giving you the pit-falls of investing in a foreclosed property. That's the biggest asset of this book, I think!
Book Description
Barron's Business Keys have gained deserved reputations as easy-to-read books of sound advice for consumers and non-experts. These brief, fact-filled volumes cut through business and financial jargon and speak to consumers in plain English. They offer information and advice on saving, investing, protecting one's assets, coping with taxes, and prudent management of personal finances. Updated to reflect the current real estate market, this book presents an informed view of the advantages and potential pitfalls connected with buying foreclosed and bargain properties. Various sources are described including lending institutions, the FHA, the Farmer's Home Administration, and others. There are valuable tips for buying at auction and for taking advantages of special programs such as urban homesteading.
Customer Reviews:
Very General.......2005-06-28
This book is so general that you will not learn how to do anything. You will learn the lingo and basic description of auctions and forclosures but it does not go into depth about anything specific. If you have any specific questions and/or research topics this is not the book. If you are completely clueless and never owned a house this is your book.
Keys to Buying Foreclosed & Bargain Homes.......2003-09-16
This book was extremely disappointing. It is too high level and superficial to provide any actionable information. It provides the same level of detail I'd expect from a magazine article, not a book.
Over simplified and short.......2002-10-02
I've read about 6 books on real estate bought from Amazon, and I have to say that this one is the most oversimplified. It is like reading one of those "pocket MBA" books, which just tells you terms and procedures. Don't expect to read this book and be able to transact "foreclosed and bargain homes". It is far from that! For instance, the chapters on how to identify and find a "bargain" home comes down to this: look it up at a bank, MLS, or internet. Heck! I could have told you that for free! Given that that is the most important step, I was really disappointed with this book. Don't waste your money...
If you want to buy an overview or basics book on home buying I sugget the "Unofficial Guide to Buying a Home" which is much more detailed and straightforward about buying a home. And it covers in better details what are the pitfalls of buying a bargain home.
A good read for those searching for discounted real estate........2002-01-15
I got this book because I became disenchanted with attempting to purchase real estate through tax liens and was searching for a better way. What I have found by reading this book is that it is possible to purchase real estate at a discount if one is willing to do the leg work.
The authors do a good job defining bargain homes, dicussing strategies on getting the best price and locating repossessed homes. Also the book has a useful glossary, helpful checklist and locations of Hud and VA offices around the country.
Concise and easy to read.......2001-12-02
This book is wonderful for the novice trying to learn about the business of investing in real estate. There is not a wasted word in this book and each chapter is only 2-3 pages long so it can be read inbetween commericals during a movie. I read over half the book during one movie.
There are helpful checklists and nuggets of suggestions that should help anyone wanting to buy a house or an investment such as Exhibit 1 showing how prices tend to change according to the season and the General Checklist to apply to any property you are considering buying. There are addresses for all the Hud offices in the US. There are tables to calculate mortgage payments based on the interest rate and there is an excellent explaination of the foreclosure process.
This a nugget of a book written in an extrememly readable and digestable manner. It may be a little too basic for experienced real estate investors but it is perfect for those just starting to learn the subject. I wish I had this book when I bought my first house and anyone facing foreclosure could benefit from reading it as well to understand the process.
Book Description
Start Building Wealth Today by Investing in Distressed Properties!
Combining proven strategies with nearly thirty years’ experience in real estate, author George Achenbach takes you step by step through the entire foreclosure process–from the first notice of default to the foreclosure sale or auction to the final disposition of the property. Everything you need to know to purchase and profit from distress properties is here, including sample forms, worksheets, checklists, and real-life examples, as well as procedures to follow, evaluation techniques, and negotiating tips. There are even suggestions on leasing homes, creating rental income, saving on taxes, and avoiding pitfalls. Additionally, a new chapter covers the pros and cons of bankruptcy and highlights the latest proposed changes in the law such as the homestead exemptions and needs-based rules.
Goldmining in Foreclosure Properties shows investors and first-time buyers how to take advantage of one of the most profitable investment opportunities in the world with expert guidance on:
- Procedures for locating distressed properties
- Financial analysis techniques for evaluating property and making the right offer
- Bidding successfully at auctions
- Effectively dealing with lenders when the property goes REO
- How you can benefit from reselling property quickly
- Negotiating tips for dealing with new purchasers and profitably transferring titles
- Generating rental income, capital appreciation, and tax savings through property leasing
Download Description
The bestselling classic updated and expanded for today's booming real estate market
This latest edition of George Achenbach's bestselling guide shows investors and first-time buyers how to reap the benefits of the foreclosure process. Readers get a proven system for locating and acquiring potential properties, along with valuable forms and checklists that help guide investors through every phase of the foreclosure investment cycle. The author also delineates expert techniques and strategies that enable buyers to pay off loans, save the homeowner's credit, and acquire properties at a bargain price to live in, lease, or resell. New to this edition are an Introduction featuring the latest statistics on foreclosures and the state of the economy; a chapter on bankruptcy; and extensive coverage of the homestead exemption, the "needs-based" rules, and additional recent changes in the real estate laws.
George Achenbach (Laguna Hill, CA) is president of a private venture capital and income property investment company. He has started ten successful businesses, and he has built over seven thousand homes and apartments and many commercial and industrial projects.
Customer Reviews:
Not relevant -not worth your money.......2006-01-11
Frankly put, the information and examples contained in this book were probably relevant in 1999 when the book was published, but after 2000 many of the examples and principles became irrelevant in our changing economic world. Real estate became the sexy investment of choice, new types of mortgage products became available and owners and renters alike became much more sophisticated. The author talks about buying houses for $36,000!!! Perhaps in the early 1980's, but not anymore--especially not in California which is where most of his real estate dealmaking took place.
Save your money and purchase another real estate book on pre-foreclosure prospecting, or the financials of property ownership. It will be money well spent.
Don't waste your money .......2004-12-10
The material is out-of-date. This book only talked about a little bit about everything on foreclosure. don't waste your money.
Foreclosure is not an easy subject, but this is a keeper..........2003-01-17
George Achenbach, has written other real estate books under the names Val Cabot and Lee Crown. He has been a builder of 7,000 houses and a buyer of foreclosed properties. He tells of his sucesses as well as his unsucessful ventures into the foreclosure world. His book has pictures of and descriptions of the various foreclosure cases with which he has been involved. His book is written from the prespective of somebody who actually worked foreclosures for many years. This is not the easiest area of real estate investment to work, but through deligence and perserverance the rewards can be extremely lucrative. There are other books on foreclosure, but I can't think of any that are as good. Over 50,000 copies of this book have been sold and with good reason. There are a lot of PRETENDERS in the foreclosure field with books and course that have high promises and little substance. George Auchenbach is the REAL Deal. He's done foreclosure investing for many years and has written an easy to read layman book on foreclosure.
My only criticism is that some aspects are dated. The cases in the book stretch back over the 30+ year career of the author and therefore some of the dollar amounts and the years of the transactions are old. However the principles and lessons learned from the author's experiences are timeless. This is best book on foreclosure that I've read, but I'm still looking for something better, that perfect book. If I could I would have rated it 4.5 stars. I recommend this book to anyone interested in buying foreclosure real estate.
Vague, outdated info.......2002-08-25
This book reminds me of the joke "How to Make a Million Dollars and Never Pay Taxes". Step 1: First you get a million dollars.
All the info was about that useful.
This Book is a Goldmine of Information!.......2001-08-29
Very informative and well written, great resource for foreclosure knowledge.
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How to Make Money With Real Estate Options: Low-Cost, Low-Risk, High-Profit Strategies for Controlling Undervalued Property....Without the Burdens of Ownership!
Find It, Fix It, Flip It!: Make Millions in Real Estate--One House at a Time
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The Pre-Foreclosure Real Estate Handbook: Insider Secrets to Locating and Purchasing Pre-Foreclosed Properties in Any Market
Profit by Investing in Real Estate Tax Liens: Earn Safe, Secured, and Fixed Returns Every Time
