The Complete Idiot's Guide to Buying Foreclosures, 2nd Edition [Mass Market Paperback]

Bobbi Dempsey (Author), Todd Beitler (Author)

Book Description

Series: The Complete Idiot's Guide | Publication Date: February 5, 2008

One person's loss is another person's gain.

This invaluable guide explains everything readers need to know about finding and financing foreclosed and soon-to-be foreclosed residential properties with the highest potential return. Completely updated, this new edition reflects recent changes in the way banks and the government dispose of foreclosed properties, covers new laws, and advises how to steer clear of scams.
? First edition sold more than 30,000 copies in a year and a half
? The national residential foreclosure rate rose to from .75% to 1.16% (of all mortgages) by the end of 2006-the biggest jump in 30 years
? Foreclosures are expected to continue to increase as interest rates rise and monthly payments on short-term variable rate and interest-only loans make homes unaffordable

Editorial Reviews

About the Author

Bobbi Dempsey is an author and freelance writer for major publications, including Family Circle, Redbook, Good Housekeeping, Ladies’ Home Journal, and more. Her article on how home inspections can prevent carbon monoxide poisoning appears in Family Circle’s December 2003 issue.

Product Details

• Reading level: Ages 18 and up
  
• Mass Market Paperback: 352 pages
• Publisher: Alpha; 2 edition (February 5, 2008)
• Language: English
• ISBN-10: 1592577210
• ISBN-13: 978-1592577217
• Product Dimensions: 9.1 x 7.3 x 0.9 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 4.8 out of 5 stars  See all reviews (12 customer reviews)
• Amazon Best Sellers Rank: #34,207 in Books (See Top 100 in Books)
  • #12 in Books > Business & Investing > Real Estate > Buying & Selling Homes
  • #31 in Books > Business & Investing > Real Estate > Investments

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Customer Reviews

Most Helpful Customer Reviews

30 of 30 people found the following review helpful:

4.0 out of 5 stars Provides good information for getting started, November 6, 2006

By 

M. C. OCONNOR (Fremont, CA USA) - See all my reviews
(REAL NAME)   

This review is from: The Complete Idiot's Guide to Buying Foreclosures (Paperback)

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.

24 of 25 people found the following review helpful:

5.0 out of 5 stars A Great Resource!, February 5, 2006

By 

P Oldham "Pam" (Aldie, Virginia) - See all my reviews

This review is from: The Complete Idiot's Guide to Buying Foreclosures (Paperback)

Thoroughly researched and easy-to-understand, this educational reference guide is a great resource for anyone who's interested in foreclosures -- or residential real estate, in general. I especially liked the section on cautions for potential investors. Novice-level and experienced investors will appreciate all the helpful tips and advice. This book is packed with information. Highly recommended!

30 of 34 people found the following review helpful:

5.0 out of 5 stars Very complete and educational, January 24, 2006

By 

Kirk (NY) - See all my reviews

This review is from: The Complete Idiot's Guide to Buying Foreclosures (Paperback)

I found this book to be full of good information. It contains everything from the absolute basics to a more advanced explanation of different types of deals that can be done on foreclosures. It has a great definition of the foreclosure process and everything you need to know.

Not sure what the last reviewer's problem is with the references cited. In specific regards to Matt Bowman, I have used what this guy has taught for years. It has helped me pick up multiple properties with no money down and not having to get a mortgage. What he teaches works. The book includes a lot of information from him on lease options and "subject to" deals, which are creative deals that can be done with no money down and not having to qualify for a mortgage, so even someone with bad credit can do them! I have also seen Jackie Lange's (another author quoted) materials and have seen her do business for years. She is very knowledgable and actually pratices what she preaches.

There are many good authors quoted in this book with very good information. I especially liked Mr. Bowman's description of a creative "subject to" real estate deal and how it should work near the end of the book. The authors of this book (and even one of the authors quoted-Jackie Lange) even took the time to write a section of what to watch out for from internet "gurus" who claim to teach real estate investing. Some of these people are just salespeople without real experience as investors. The book provides good tips on what to look for, and I'm sure the investors quoted were probably researched beforehand to make sure they were not the "liars and con artists".

Overall, the book is a great resource for anyone wanting to learn about investing in foreclosures, or even just for general real estate investing knowledge. It is written for a complete beginner, but expands into more advanced details. Very complete and an easy read. I highly recommend it.