How to Find Hidden Real Estate Bargains (Paperback)

~ Robert Irwin (Author)

Editorial Reviews

Product Description

Tight financing and high prices notwithstanding, real estate remains one of the best areas for investors to find unexpectedly lucrative bargains. Now you can tap into Robert Irwin's ever-reliable expertise to learn exactly where to find genuine bargains and obtain them at rock-bottom prices. Irwin provides tips and strategies found nowhere else. Whether your objective is to buy a bargain home for a personal residence or to realize a quick resale profit, you will be able to quickly decide if a property's potential payoff outweighs its risks.

Inside you'll also learn: *
The ins and outs of bank-owned foreclosures and discounted mortgages *
How to buy at auction, and where to find hidden gems in financing *
Leveraged commercial buildings *
Leasing and subletting *
Conversions *
And more!

Armed with this insider's guide, you will be able to uncover investment opportunities in today's real estate market, and purchase property at the kinds of prices most people only dream about.

From the Back Cover

Think there are no more bargains left in today's real estate market? Think again!

Can you imagine paying 50% less than the market value of a property even in today's market? Absolutely! Robert Irwin, America's best-selling real estate expert, shows buyers and investors where to look for great deals in real estate.

• Learn how to get in on the ground floor of a foreclosure by working directly with the seller.
• Navigate your way through the maze of Repos: HUD, Fannie Mae, FDIC, and more!
• Uncover the ins and outs of buying at auctions.
• Discover the multitude of financing options available to you.
• Get critical tips and helpful guidelines for inspecting property.
• Understand the latest tax laws, and learn how to work with brokers.

How to Find Hidden Real Estate Bargains is fully revised and updated for today's sizzling marketplace and savvy real estate buyer. There are still hidden real estate treasures out there. Robert Irwin will show you where to find them. --This text refers to an alternate Paperback edition.

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Product Details

• Paperback: 176 pages
• Publisher: McGraw-Hill Trade; Revised edition (June 1, 1991)
• Language: English
• ISBN-10: 0070323046
• ISBN-13: 978-0070323049
• Product Dimensions: 8.8 x 5.9 x 0.5 inches
• Shipping Weight: 8.8 ounces (View shipping rates and policies)
• Average Customer Review: 4.1 out of 5 stars  See all reviews (9 customer reviews)
• Amazon.com Sales Rank: #1,389,563 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

40 of 40 people found the following review helpful:

3.0 out of 5 stars Good introduction, but very general, September 30, 2002

By	Erol M. Irez "eirez" (North Quincy, MA USA) - See all my reviews (REAL NAME)

Instead of explaining the details of "How" you will find bargains, Mr.Irwin mostly gives you a general overview of different bargain opportunities. This is not a step by step guide on how and where to find the bargains.

But the book does a good service in explaining the possible risks involved with each bargain property.

To the unitiated, this book may help you decide which bargain avenue to specialize in and investigate further (REO, distressed property, foreclosure, etc...) Otherwise, it is quite useless.

The chapters on financing, starting with a shoestring, and purchasing property in a falling market are dated (Resolution Trust Corporation - isn't it disolved???) or mostly motivational ("... if you really need to raise cash for a terrific deal, then in most cases you'll find the money.").

I liked this book and would recommend it as an introduction to investing, a book to give you an idea of different methods to investing. But if you need a "how-to" book, keep researching other books and attending investor meetings.

16 of 16 people found the following review helpful:

5.0 out of 5 stars From San Francisco Chronicle, December 10, 2002

By A Customer

This review is from: How to Find Hidden Real Estate Bargains 2/e (Paperback)

#10 of year's 10 top real estate books. This survey book explains how to profit from virtually all bargain properties, such as foreclosures, probates, government property sales, REO (real estate owned by lenders) and other distressed-property situations. Emphasis is on low-cash purchase methods, along with methods for discovering these often-obscure realty bargains. by Robert J. Bruss

13 of 13 people found the following review helpful:

5.0 out of 5 stars not a lot of hype, January 1, 2004

By	nancy lapidus "nanlapidus" (Tobyhanna, PA USA) - See all my reviews

This review is from: How to Find Hidden Real Estate Bargains 2/e (Paperback)

Robert Irwin seems to generate a wellspring of books filled with good advice about buying and investing in residential real estate. He has an urbane way of cutting out the hype that can fascinate but obscure realities for buyers and sellers. Like a good uncle, he doesn't tell you not to do it - he points out some strategies for protecting yourself from the abyss. He paints a picture of the effort you'll need, and lets you make the right choice. For example, he points out that some sheriffs' foreclosures allow the defaulters 60 days to pay up and reclaim the property even after you win the auction, and that you shouldn't begin your repairs until then. He reveals that For Sale by Owner properties are most often overpriced, so you may need to make too many inquiries before you succeed.

Irwin's investment practice is in California. Therefore, some of his advice doesn't hold up in other areas. Trust deeds, in which the seller holds the deed until the buyer's payments are complete, are not allowed in Pennsylvania, for example. Sellers would sometimes disappear after the buyer had invested many payments, leaving the buyer difficult recourse to the deed.

His updated chapter on government foreclosures is informative, although he states there is no chance for inspection. This is not quite accurate. You may not have a chance before you bid, especially in a hot market, but the contracts of HUD and Freddie Mac provide for an inspection contingency. Although you can't bargain on the "as-is" sales, you can withdraw entirely if the fixups are overwhelming. It's not much different from our private residential experiences in New York, New Jersey, Pennsylvania, Washington, D.C. and Florida, with the exception that in ordinary practice in these areas you may be able to renegotiate the price when the inspection reveals unfavorable conditions.

I especially enjoyed his explosion of the old saw that location is most important. As he pointed out, it may be true if you are buying a house to live in, but if you're investing, price and market would come first. A poor or unsuitable location can sometimes have its advantages.

A unique aspect is the coverage of ethics, done gently, in the form of honesty is the best policy. Taking all the short-term advantages while hurting others will lead to lack of trust and a bad name, which will diminish your opportunities in the long run.

We will soon be reading his new book, "Tips and Traps When Renovating Your Home." We think we can learn something useful about reducing our remodeling costs.

Nancy & Arnold Lapidus