Make Money in Short-Sale Foreclosures: How to Bypass Owners and Buy Directly from Lenders [Hardcover]

Chantal Howell Carey (Author), Bill Carey (Author)

Book Description

Publication Date: April 7, 2006

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

Editorial Reviews

From the Inside Flap

Everyone knows real estate investing is a great moneymaking opportunity. But many investors don't know that short-sale foreclosures are an even better way to get into the real estate game. Rather than getting stuck with non-performing mortgages, lenders are making deals with investors to substantially discount these loans below the amount of the loan itself! Buying properties at this discounted price can be highly lucrative and extremely affordable. And the opportunities will continue to grow! The market for short-sale foreclosure properties is expected to double over the next few years, so now is the time to get into the game.

Make Money in Short-Sale Foreclosures shows novice investors how to find and purchase these bargains for the biggest possible profit. Renowned real estate authors Chantal and Bill Carey show you how to find these great deals, negotiate for the best price and terms, and employ a moneymaking strategy focused on either long- or short-term profits. This handy guide provides all the strategies savvy investors like you need and reveals all the inside secrets of short-sale investing.

Most foreclosure books will show you how to buy the equity of an owner in foreclosure. But when an owner has no equity to buy, most books will tell you to walk away from these little- or no-equity deals. Make Money in Short-Sale Foreclosures is one of the very few real estate books available that offers comprehensive coverage of short-sale foreclosure investing—including how to create equity with these low- or no-equity deals. From buying properties directly from lenders to winning at foreclosure auctions, this handy guide reveals all the inside secrets you need to know to take advantage of these unbeatable moneymaking opportunities.

From the Back Cover

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

See all Editorial Reviews

Product Details

• Hardcover: 288 pages
• Publisher: Wiley; 4 edition (April 7, 2006)
• Language: English
• ISBN-10: 0471760846
• ISBN-13: 978-0471760849
• Product Dimensions: 9.3 x 6.3 x 1 inches
• Shipping Weight: 8 ounces (View shipping rates and policies)
• Average Customer Review: 2.9 out of 5 stars  See all reviews (7 customer reviews)
• Amazon Best Sellers Rank: #488,364 in Books (See Top 100 in Books)

More About the Author

Discover books, learn about writers, read author blogs, and more.

Customer Reviews

Most Helpful Customer Reviews

17 of 18 people found the following review helpful:

2.0 out of 5 stars Slightly helpful - Maybe, January 26, 2007

By 

M. Spota "Real Estate Investor" (Rome, GA USA) - See all my reviews
(REAL NAME)   

This review is from: Make Money in Short-Sale Foreclosures: How to Bypass Owners and Buy Directly from Lenders (Hardcover)

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.

12 of 13 people found the following review helpful:

2.0 out of 5 stars Boy one, get them all at the same time, November 14, 2007

By 

David Roberts "Marketing Guy" (Pacific Northwest USA) - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: Make Money in Short-Sale Foreclosures: How to Bypass Owners and Buy Directly from Lenders (Hardcover)

I have bought a ton of books on foreclosures, and top be honest, there are all pretty much the same - vith variations. Short sales are not as easy as they say they are. I would put my money into a book that encompassed all facets of property foreclosure. Probably be better value.

28 of 35 people found the following review helpful:

5.0 out of 5 stars One of my top three real estate investing books, May 20, 2006

By 

R. Schirle "Rhonda Schirle" (Orlando, FL) - See all my reviews
(REAL NAME)   

This review is from: Make Money in Short-Sale Foreclosures: How to Bypass Owners and Buy Directly from Lenders (Hardcover)

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.