Foreclosure Myths: 77 Secrets to Making Money on Distressed Properties [Paperback]

Ralph R. Roberts (Author), Chip Cummings (Author)

Editorial Reviews

Product Description

Learn the whole truth about foreclosures and discover some real bargains with the myth-busting information in Foreclosure Myths: 77 Secrets to Saving Thousands on Distressed Properties!. Find out the truth about seventy-seven persistent myths that prevent would-be homeowners and real estate investors from taking advantage of tremendous profit potential. Understand how to find, evaluate, and buy foreclosure properties at a discount, including how you can use other people's money to finance your investments through firsthand stories from top industry professionals and handy resources like government foreclosure guidelines.

From the Back Cover

Learn the whole truth about foreclosures—and discover some real bargains too!

In Foreclosure Myths, Ralph Roberts and Certified Mortgage Consultant Chip Cummings debunk seventy-seven persistent myths that prevent would-be homeowners and real estate investors from taking advantage of the tremendous profit to be had in foreclosures. Through the process of revealing the truth about the most persistent foreclosure myths, Roberts and Cummings show you how to find, evaluate, and buy foreclosure properties at a discount—including how you can use other people's money to finance your investments. In addition, the book features quotes and firsthand stories from top industry professionals and handy resources like national and state foreclosure guidelines, sample forms, checklists, and all the other tools everyday investors need to earn a profit buying, fixing up, and selling or renting out foreclosure properties—or simply making the property their new home.

Learn why these and other myths aren't true at all:

• There's nothing an investor can do to assist distressed homeowners

• Only insiders can find good foreclosure properties

• You need a lot of money to start investing

• Only experts can understand the foreclosure process

• Every foreclosure property is a moneymaking deal

• Real estate agents always get the good deals at auction

• Foreclosed properties are always in terrible shape

• You can only sell a foreclosure home after extensive renovations

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Product Details

• Paperback: 224 pages
• Publisher: Wiley (August 18, 2008)
• Language: English
• ISBN-10: 0470289589
• ISBN-13: 978-0470289587
• Product Dimensions: 8.9 x 5.9 x 0.7 inches
• Shipping Weight: 9.6 ounces (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (5 customer reviews)
• Amazon Bestsellers Rank: #365,566 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

3 of 3 people found the following review helpful:

5.0 out of 5 stars Good timely information, February 12, 2009

By	R. Wilson "Roger" (San Francisco, CA) - See all my reviews

This review is from: Foreclosure Myths: 77 Secrets to Making Money on Distressed Properties (Paperback)

Due to the current state of the economy, I purchased this while looking at several foreclosures in my neighborhood. Great find!

I really like the way the book is laid out with the "myths" that explain the concepts. I am not a beginner, but this book would good for anyone just starting out in the world of foreclosures, or mid-level investors.

Easy to read, and a lot of good insights.

3 of 3 people found the following review helpful:

5.0 out of 5 stars Chip Cummings is a Real Estate Top Gun, January 22, 2009

By	J. J. Senay ""(www.condo-condominium.com)... (Ohio) - See all my reviews (REAL NAME)

This review is from: Foreclosure Myths: 77 Secrets to Making Money on Distressed Properties (Paperback)

Put this book on the top of your list. If you think you know about foreclosures as I did, think again. Chip's book Foreclosure Myths: 77 Secrets to Saving Thousands on Distressed Properties is filled with very useful information that I have not seen elseware. Do not go into real estate investing without reading this book first. Useful, up-to-date and authoritative.

1 of 1 people found the following review helpful:

5.0 out of 5 stars A simple primer on the field of foreclosures, March 7, 2010

By	Eagle Vision (Southeastern United States) - See all my reviews (VINE VOICE)    (TOP 500 REVIEWER)

This review is from: Foreclosure Myths: 77 Secrets to Making Money on Distressed Properties (Paperback)

Organized by every step of the process of the system, selecting property, financing property, securing it and then selling it, many myths are dispelled in a Myth/Fact Format. This book is a quick read with high yield facts that help the reader make a good and informed decision. The sections are highlighted by tips and showstoppers throughout the book. Not purporting itself as an 'end all' resource, this book gives a overview of what steps are necessary along the way. You will still need to consult with the key players in your efforts to make your own successful purchase/sale.

The book is a quick read with a lot of important information that gives a lot of great guidance.