Description
Book SynopsisMake foreclosure investing work for you with this practical and easy-to-understand guide Looking to kick start your own property management career? Check out Foreclosure Investing For Dummies, which will get you started buying foreclosed properties to turn into your own income property!
In this book, you''ll learn to navigate the complexities of home auctions, deal with emotional former homeowners, and how to handle renovations. You''ll also get a heads-up on the foreclosure laws in all 50 states so you don''t accidentally run afoul of any complicated regulations.
Foreclosure Investing For Dummies shows you how to:
- Locate properties for sale and identify associated opportunities and risks
- Buy properties below market value at auction, from lending institutions, and from government agencies
- Fix up, renovate, and sell or lease your new property for a profit
This hands-on guide can help anyone make foreclosure investing work.
Table of Contents
Introduction 1
Part 1: Prepping Yourself for Foreclosure Success 7
Chapter 1: Wrapping Your Brain around Foreclosure Investing 9
Chapter 2: Getting Up to Speed on the Foreclosure Process 29
Chapter 3: Picking Your Point of Entry in the Foreclosure Process 41
Part 2: Laying the Groundwork for Maximized Profit and Minimized Risk 57
Chapter 4: Building a Powerful Foreclosure Investment Team 59
Chapter 5: Filling Your Foreclosure Tank with Financial Fuel 77
Chapter 6: Networking Your Way to Foreclosure Success 95
Part 3: Creating Win–Win Situations in Pre-Foreclosure (Before Auction) 107
Chapter 7: Discovering Homeowners Facing Foreclosure 109
Chapter 8: Performing Your Due Diligence 125
Chapter 9: Contacting the Homeowners and Lenders 145
Chapter 10: Analyzing the Deal and Presenting Your Offer 173
Part 4: Finding and Buying Foreclosure and Bankruptcy Properties 187
Chapter 11: Bidding for Properties at a Foreclosure Sale 189
Chapter 12: Buying Repos: Bank Foreclosures and REO Properties 207
Chapter 13: Finding and Buying Government Repos 225
Chapter 14: Banking on Bankruptcies 241
Chapter 15: Sampling Some Other Foreclosure Strategies 255
Part 5: Cashing Out Your Profit After the Sale 277
Chapter 16: Assisting the Previous Homeowners Out the Door 279
Chapter 17: Repairing and Renovating Your Investment Property 291
Chapter 18: Cashing Out: Selling or Leasing Your Property 305
Chapter 19: Checking Out Other Cash-Out Strategies 319
Part 6: The Part of Tens 329
Chapter 20: Ten Common Beginner Blunders 331
Chapter 21: Ten Ways to Maximize Future Leads by Acting with Integrity 337
Chapter 22: Ten Tips for Avoiding Common Foreclosure Minefields 345
Appendix: Foreclosure Rules and Regulations for the 50 States 353
Index 367
