The Complete Guide to Locating, Negotiating, and Buying Real Estate Foreclosures: What Smart Investors Need to Know - Explained Simply (Paperback)

by Frankie Orlando (Author)
Key Phrases: foreclosure schedule, defaulted homeowners, foreclosure listings, The Complete Guide, Buying Real Estate Foreclosures, Freddie Mac (more...)

Editorial Reviews

Product Description
In every hour of each day, savvy real estate investors are accumulating vast fortunes buying foreclosed homes at bank foreclosures, pre-foreclosures, and foreclosure auctions. Recent research indicates that more than 1 percent of ALL residential property in the United States today is already in; or facing foreclosure soon.. In April 2006 RealtyTracTM , the leading online marketplace for foreclosure properties, released its 2006 Q1 U.S. Foreclosure Market Report, which showed that 323,102 properties nationwide entered some stage of foreclosure in the first quarter of 2006, a 38 percent increase from the previous quarter and a 72 percent year-over-year increase from the first quarter of 2005. The nation s quarterly foreclosure rate of one new foreclosure for every 358 U.S. households was higher than in any quarter of last year. There is an estimated 1 million plus homes being foreclosed on. Armed with the right knowledge and tactics, opportunities for buying low-cost real estate foreclosures are plentiful. There are a lot of things you need to know before you get started. You need to understand how the foreclosure process works, what the borrower is going through, and the lenders role. You will be taught 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, this 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. You will learn how to: negotiate with homeowners in distress, prepare contracts and paperwork, determine the true market value of the property, creative techniques to finance properties, learn how to flip the property, locate one-of-a-kind properties, negotiate with sellers, research, auctions, estimate repair costs, eliminate, obtain REO, use online resources, look up owners contact information, communicate with property owners, write ads, how to receive pre-foreclosure information, options, and more. This brand new book 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.

Product Details

• Paperback: 288 pages
• Publisher: Atlantic Publishing Company (FL) (January 1, 2008)
• Language: English
• ISBN-10: 0910627037
• ISBN-13: 978-0910627030
• Product Dimensions: 8.9 x 6 x 0.7 inches
• Shipping Weight: 1 pounds (View shipping rates and policies)
• Average Customer Review: 4.7 out of 5 stars See all reviews (14 customer reviews)
• Amazon.com Sales Rank: #26,822 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

12 of 13 people found the following review helpful:

5.0 out of 5 stars Insider information for the novice real estate investor, January 30, 2008

By	J. South "SouthScribe" (State College, PA) - See all my reviews (REAL NAME)

This book is a comprehensive guide to using foreclosures for real estate investing. It is written for the novice, someone with no previous experience dealing with foreclosures (including a complete glossary of terms at the end of the book). The authors describe foreclosures in full detail, outlining the benefits, ways to avoid pitfalls, and many avenues to locating property. The books explains why sellers are motivated to unload property, and how you as the investor, can take advantage of that situation. It describes the foreclosure timeline, and indicates where you can invest at each step. It takes you through every aspect of the process, including the preparation for your investment, evaluating the property, ensuring funds for the purchase, and maintaining the property once you have acquired it. It also helps the investor to make the most of the property, in terms of profit, once it has been acquired.

This book is unique in that the authors try to prepare the reader for the psychological aspects of this type of endeavor. There is in-depth discussion of the person-to-person aspects of becoming involved in foreclosures. First, evaluating yourself as an investor, helping you to determine whether you have the time and people skills necessary to make the commitment. The authors emphasize that the investor must be comfortable talking to strangers, being persistent, and being prepared to talk with homeowners who might be in a state of mind that is not conducive to negotiation. They give the reader unwritten rules about talking with banks, and other sellers; what you should expect and things to consider. Reader-friendly tables are included to highlight the key points in each chapter, and offer "next steps" and many useful links to websites for more information. The book includes an extensive list of resources and is a must-read for anyone interested in real estate investment.

7 of 8 people found the following review helpful:

5.0 out of 5 stars Easy to Read, Easy to Understand - A Great Place to Start!, February 8, 2008

By	Katie-Anne "Mom to Jake and Connor" (Sweden) - See all my reviews

If you've ever thought about the possibility of purchasing a property that falls under the foreclosure category, whether to live in yourself, or as a investment property, but thought that it might be too complicated, this is a great book to read. It takes you right from the beginning of what foreclosure is, to how you can make a lot of money from this kind of property deal.

The book states "Reading one book will not turn you into a foreclosure investment specialist." However this book will tell you what you need to know in order to explore the possibility further. It will help you identify if you have the right skills and aptitude to weave a path through the real estate foreclosure waters, and explains in very plain terms what it all means - whether it's how to contact the property sellers, or what to do with the property once you've purchased it.

Apart from the easy to follow general foreclosure investment information that the book contains, there are two strengths to this particular book. The first is in the very easy to understand glossary that gives easy to understand definitions of the various terminology terms that anyone just starting out as a property investor may find off-putting. This makes the official documentation associated with real estate much less complicated to understand. The second strength in this book is in the list of additional resources that would-be investors can explore in order to ensure that this is the best way for them to invest their money. This list includes resources on where foreclosures can be found, where to network with other property investors as well as nuts and bolts such as legal and marketing information.

Overall "The Complete Guide to Locating, Negotiating and Buying Real Estate Foreclosures" may not be the only guide you need in order to make your investment capital grow through the foreclosure market, but it is certainly a comprehensive guide that will answer many of your questions, as well as point you in the direction of where to go next for further information.

6 of 7 people found the following review helpful:

5.0 out of 5 stars Great Book For Real Estate Investors, February 13, 2008

By	K. Kelly (Fort Wayne, IN USA) - See all my reviews (REAL NAME)

Frankie and Marsha have truly put together a user friendly guide that examines the foreclosure process. For anyone looking to purchase a home or invest in the foreclosure market, this book is truly a gem. The book aims at helping investors take advantage of the foreclosure market. They point out the potential pitfalls and abundant gain that a foreclosure can bring investors.
Homeowners would also benefit from reading this book. The book provides an insiders look at how the foreclosure process works and the way that investors can potentially save them before a foreclosure occurs. The best defense against foreclosure is knowing the tricks of the trade.
The book is user friendly and well organized. Not to mention part of the proceeds are donated to a worthy charity.