The Pre-Foreclosure Real Estate Handbook: Insider Secrets to Locating And Purchasing Pre-Foreclosed Properties in Any Market [Paperback]

Frankie Orlando (Author)

Book Description

Publication Date: September 5, 2006

The Pre-Foreclosure Real Estate Handbook explains 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, The Pre-Foreclosure Real Estate Handbook 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. The Federal Reserve Bank indicates .... that foreclosed properties average 22% less than typical properties. Home foreclosures are at their highest peak in years; you can be one of the thousands earning six-figure incomes in this lucrative segment of the real estate marketplace. You can do this part-time or full-time. Learn how to buy directly from property owners whose mortgage loans are in default and stay away from courthouse-bidding feuds. With the help of this new book, property investing can be a very lucrative line of work. You will learn how to identify the most valuable properties and control every step of the procedure. We spent thousands of hours interviewing, e-mailing, and communicating with hundreds of todays most successful real estate investors. If you are interested in learning hundreds of hints, tricks, and secrets on how to make money (or more money) investing in real estate foreclosures, then this book is for you! The Pre-Foreclosure Real Estate Handbook 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.

Editorial Reviews

Review

...Do not get into the pre-foreclosure real estate investment market until you have read this cover-to-cover. --Anthony Marotta, President; Allied Property Management Group, Inc.; Palm Beach, FL Florida Publishers Association President's Book Winner - 2007 --Book Award

Florida Publishers Association President's Book Winner - 2007 --Book Award

About the Author

Frankie Orlando is a freelance writer living in Fairfax, Virginia. She lives there with her husband, two daughters, and three cats. Frankie has watched real estate prices double in the ten years that she has lived in the Northern Virginia area. Frankie and her family enjoy visiting the museums in Washington, D.C. and study Tae Kwon Do together (currently at the green belt level). In her free time, Frankie tries catching up with her photo albums.

Product Details

• Paperback: 346 pages
• Publisher: Atlantic Publishing Company (FL) (September 5, 2006)
• Language: English
• ISBN-10: 0910627665
• ISBN-13: 978-0910627665
• Product Dimensions: 9 x 6.1 x 0.8 inches
• Shipping Weight: 14.4 ounces (View shipping rates and policies)
• Average Customer Review: 4.6 out of 5 stars  See all reviews (15 customer reviews)
• Amazon Best Sellers Rank: #262,716 in Books (See Top 100 in Books)
  • #73 in Books > Business & Investing > Industries & Professions > Purchasing & Buying

• Due to this item's unusual size or weight, it requires special handling and will ship separately from other items in your order. Read More

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Customer Reviews

Most Helpful Customer Reviews

21 of 23 people found the following review helpful:

5.0 out of 5 stars Very good for beginners, January 21, 2007

By 

Matt Bresee "Contributor for the book, The Ul... (OH, USA) - See all my reviews
(REAL NAME)   

This review is from: The Pre-Foreclosure Real Estate Handbook: Insider Secrets to Locating And Purchasing Pre-Foreclosed Properties in Any Market (Paperback)

The book's strategy offers a simple method for identification for properties, including how to approach owners AND lenders. Sending attractive offers such as short sales and how to wait out lender approval. This is a very good read for beginners wanting to enter into the foreclosure market, especially in the current situation of higher interest rates and lower consumer demand for real estate. There will be a spike of foreclosures.

-Matt
Illustrator for The Ultimate Foreclosure Kit

12 of 12 people found the following review helpful:

5.0 out of 5 stars Good Background Information, September 20, 2007

By 

Loyd E. Eskildson "Pragmatist" (Phoenix, AZ.) - See all my reviews
(HALL OF FAME REVIEWER)    (REAL NAME)   

This review is from: The Pre-Foreclosure Real Estate Handbook: Insider Secrets to Locating And Purchasing Pre-Foreclosed Properties in Any Market (Paperback)

This material is good basic information for anyone wanting to get started in buying potential foreclosure properties. Begins by explaining basic terms and processes - eg. mortgage foreclosures lead to Sheriff's Sales, while Deeds of Trust lead to "Trustee's Sales" and lack a redemption period (owners can buy back their property during this period, leaving you with nothing to show for your effort, though you do get your money back).

On average, foreclosure buyers have 90 days + 20 days publication time to work a deal with the homeowners. Buying from onwers prior to foreclosure also eliminates the redemption period. FHA and VA loans are much more likely to be assumable.

Buying at auction means having to contend with competitors, an inability to inspect the property prior to bidding, and all sales being final. After foreclosure one is less likely to get a good price, it is harder to inspect the property (utilities probably turned off).

Finding foreclosure properties is eased by looking in public records for "Lis Pendens" (judicial process) or the "Notice of Default" (non-judicial process); there is also the later Foreclosure Auction notice. Other sources include looking in the newspaper of record and/or the County Recorder database. Still other sources include divorce proceedings (likely problems with the lawyers involved), probate filings, FSBO listings, Internet sites (eg. foreclosure(s).com, street signs, Internet ads.

Author also recommends a full title search ($100-$350), and contracts written "Subject to" eg. inspections.

19 of 21 people found the following review helpful:

5.0 out of 5 stars Complete, Concise and Clear., October 11, 2006

By 

L. Salazar - See all my reviews
(REAL NAME)   

This review is from: The Pre-Foreclosure Real Estate Handbook: Insider Secrets to Locating And Purchasing Pre-Foreclosed Properties in Any Market (Paperback)

I had never really thought that investing in foreclosure properties was something that I, a normal working middle-class person could do. Sure, I'd watch the infomercials and wish that I had the income and nest egg to allow me to invest in real estate, but I never gave it serious thought. I didn't think it was possible. After reading this book I know it's not a matter of "if only I could" but more a case of "when I find the right property."

One thing that struck me as extremely useful was the detailed amount of background and information the book provides. The process of foreclosure can be intimidating to someone who is not familiar with the banking industry. It becomes even more difficult to understand when you consider that each state has the potential of having their own set of rules and laws. This book covers all the bases in accessible language, graphs and even screen shots of web pages. The financial jargon is explained clearly and easy to understand examples are provided. Each step including: identifying possible pre-foreclosure properties through advertising or public records searches, contacting homeowners, negotiating, and financing options are laid out and discussed. Networking and the processes surrounding reselling of a purchased house are also described.

Finally, the book contains a great deal of additional information in the form of a comprehensive glossary and a bibliography of on-line sites where you can do additional research on the various topics of the book. Needless to say, this book was a great springboard of motivation and information for me to get started in the pre-foreclosure housing market.