How to Buy Foreclosed Real Estate: For a Fraction of Its Value [Paperback]

Theodore J. Dallow (Author)

Book Description

Publication Date: January 1992

In recent years, the real estate industry has undergone one of the most significant upheavals in its history. The editor of the popular professional newsletter Foreclosures covers every relevant topic and warns against the most common pitfalls--all in a way that's easy for the layperson to understand.

Editorial Reviews

About the Author

Theodore J. Dallow was the owner of three Century 21 real estate offices inn Nassau Country, New York. He was the managing broker for HU Foreclosed Properties in southern Nassau County.

Don Ayer has been a real estate broker for more than twenty-five years. He lives in Waukesha, WI.

Dick Pas is an attorney, licensed real estate broker, and co-owner and president of Heartland Home Mortgage. He has previously represented the Small Business Administration in bankruptcy and foreclosure matters. He lives in Hales Corners, WI. --This text refers to an alternate Paperback edition.

Product Details

• Paperback: 152 pages
• Publisher: Adams Media Corp (January 1992)
• Language: English
• ISBN-10: 155850026X
• ISBN-13: 978-1558500266
• Product Dimensions: 8.2 x 5.5 x 0.5 inches
• Shipping Weight: 7.2 ounces
• Average Customer Review: 3.6 out of 5 stars  See all reviews (20 customer reviews)
• Amazon Best Sellers Rank: #3,105,416 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

42 of 42 people found the following review helpful:

4.0 out of 5 stars Very good coverage, a great introduction to foreclosures., February 16, 1999

By A Customer

This review is from: How to Buy Foreclosed Real Estate: For a Fraction of Its Value (Paperback)

I was very happy with this book. I had little knowledge of foreclosures and Mr. Dallow covered the numerous aspects very well, without using technical terms. However, when he did include them, he explained their usage and how you would encounter them in the real world so you wouldn't appear uninformed (novice). I have a much better grasp of the process now, and feel more confident when I discuss foreclosures with experienced people. Although there is more you need to know to handle foreclosures, this book is a good starting point.

31 of 32 people found the following review helpful:

3.0 out of 5 stars Seems honest, but a bit confusing, August 8, 2003

By 

Gadgester "No Time, No Money" (Mother Earth) - See all my reviews
(HALL OF FAME REVIEWER)   

This review is from: How To Buy Foreclosed Real Estate (Paperback)

The author seems to make an effort at being honest. He makes it abundantly clear that buying foreclosures is very risky, something ignored or downplayed by many other books on real estate speculation (specifically I have Tyler Hicks in mind; shame on Prentice Hall!). The book starts with why there are foreclosures, how you can contact banks for safer deals, and, if you do want to go to an auction, what to do before, during and after. There's also a chapter on the dangers of zero-down deals.

While I liked the content, I found the material somewhat difficult to follow. For example, in the very first chapter the author tries to explain to you what "mortgage" really is; but after re-reading the two pages three times, I still couldn't fully grasp what he meant. Maybe it's because I'm dumb. But there are many, many other sections which are not easy to comprehend, and they are not helped by fragmented sentences and illogical since-hence conclusions.

In short, I think this book is worth reading if you are thinking of doing foreclosures like I was. There are some valuable tips that can help you avoid costly pitfalls; I know first-hand what a nightmare dealing with destructive tenants and former landlords can be, and so should you.

23 of 24 people found the following review helpful:

3.0 out of 5 stars Don't Read this one First, January 28, 2002

By 

Jon Wipf (Loveland, Co USA) - See all my reviews

This review is from: How To Buy Foreclosed Real Estate (Paperback)

This book explores most of the issues involved in buying real estate. It also covers areas most people don't think of, like debt management, how to get loans, is no-down such a good idea, and how to compete against people who do this for a living, etc.
On the negative side, he's had extremely bad luck with tenants, is pretty negative about amateurs trying this, and has a pretty low opinion of people for a real estate guy. I wouldn't let this be your first book on the subject. The author thinks only "pro's" should be investors and the "nesters" (amateurs) should stay away.