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Description
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Foreclosed properties can offer you a great investment opportunity. The Make Money on Foreclosures Answer Book reveals insider tips, strategies, and insights that are critical for anyone with the desire to purchase foreclosure properties and make money from them.
This book offers straightforward, easy-to-follow information about:
--Finding foreclosure properties
--How to fund foreclosed properties
--How to determine your costs
--How to buy (pre-foreclosures, auctions, bank, government)
--What to do after you have bought a foreclosed property
--Legal issues to consider
--Tax issues
The Make Money on Foreclosures Answer Book is a quick, authoritative reference for consumers who want immediate answers to their most pressing questions. Written in an easy-to-read Q&A format, The Make Money on Foreclosures Answer Book addresses common questions about making money on foreclosed property.
This book offers straightforward, easy-to-follow information about:
--Finding foreclosure properties
--How to fund foreclosed properties
--How to determine your costs
--How to buy (pre-foreclosures, auctions, bank, government)
--What to do after you have bought a foreclosed property
--Legal issues to consider
--Tax issues
The Make Money on Foreclosures Answer Book is a quick, authoritative reference for consumers who want immediate answers to their most pressing questions. Written in an easy-to-read Q&A format, The Make Money on Foreclosures Answer Book addresses common questions about making money on foreclosed property.
Table of Contents
Foreword
Chapter 1: Foreclosure Basics
Chapter 2: Deciding to Invest in Foreclosures
Chapter 3: Establish Your Goals
Chapter 4: Finding Appropriate Properties
Chapter 5: Understanding the Parties and Their Motivations
Chapter 6: Ready, Set, Buy!
Chapter 7: Financing Your Purchase
Chapter 8: What You Should Know About Taxes
Chapter 9: Bankruptcy and Foreclosure
Chapter 10: The Former Owner
Conclusion
Glossary
Appendix A: Sample Business Plan
Appendix B: HUD Good Neighbor Next Door
Appendix C: State-Specific Information
Appendix D: Understanding the Real Estate Contract
Appendix E: Spreadsheets You Can Use
Chapter 1: Foreclosure Basics
Chapter 2: Deciding to Invest in Foreclosures
Chapter 3: Establish Your Goals
Chapter 4: Finding Appropriate Properties
Chapter 5: Understanding the Parties and Their Motivations
Chapter 6: Ready, Set, Buy!
Chapter 7: Financing Your Purchase
Chapter 8: What You Should Know About Taxes
Chapter 9: Bankruptcy and Foreclosure
Chapter 10: The Former Owner
Conclusion
Glossary
Appendix A: Sample Business Plan
Appendix B: HUD Good Neighbor Next Door
Appendix C: State-Specific Information
Appendix D: Understanding the Real Estate Contract
Appendix E: Spreadsheets You Can Use
Reviews
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So, recently I was given the opportunity to read a new book which I thought was appropriate for the current real estate market climate. The book, called The Make Money On Foreclosures Answer Book was written by one Denise L Evans, Attorney-at-law.
Ms. Evans goes into quite a lot of necessary detail regarding the purchase of properties at various stages of foreclosure. She is clear and to-the-point about many misconceptions the general public has about buying properties in foreclosure.
One point that bears repeating, is that properties advertised for sale as “foreclosures” are typically listed at or very near market prices. This is due to the fact that the bank holding the mortgage lists the property for the appraised value or a value based on a broker price opinion (BPO).
Another good point imparted by this book is that buying foreclosures, whether by investors or individuals intending to occupy the property, is not to be entered into without preparation….or a strong stomach. It seems that there are a great many things that could go wrong with the sale and there is so much work involved that, from an investor’s (my) perspective, the payoff had BETTER be worth it.
According to this book, the work involved coupled with the problems that can arise make investing in foreclosed properties not worth it in my personal opinion.
In general though, this book does a great job of explaining the complexities involved in purchasing properties in pre and post foreclosure and the one big take away is that, if you’re not experienced in this area of real estate, retain a good attorney who is.
Ms. Evans goes into quite a lot of necessary detail regarding the purchase of properties at various stages of foreclosure. She is clear and to-the-point about many misconceptions the general public has about buying properties in foreclosure.
One point that bears repeating, is that properties advertised for sale as “foreclosures” are typically listed at or very near market prices. This is due to the fact that the bank holding the mortgage lists the property for the appraised value or a value based on a broker price opinion (BPO).
Another good point imparted by this book is that buying foreclosures, whether by investors or individuals intending to occupy the property, is not to be entered into without preparation….or a strong stomach. It seems that there are a great many things that could go wrong with the sale and there is so much work involved that, from an investor’s (my) perspective, the payoff had BETTER be worth it.
According to this book, the work involved coupled with the problems that can arise make investing in foreclosed properties not worth it in my personal opinion.
In general though, this book does a great job of explaining the complexities involved in purchasing properties in pre and post foreclosure and the one big take away is that, if you’re not experienced in this area of real estate, retain a good attorney who is.
Specs
Format: Paperback
Dimensions
Length: 8 in
Width: 6 in
Weight: 13.00 oz
Page Count: 256 pages
Dimensions
Length: 8 in
Width: 6 in
Weight: 13.00 oz
Page Count: 256 pages
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