Synopses & Reviews
Earn fast profits on foreclosureswith little or no money down!
Foreclosure properties are one of todays hottest investmentsand one of the quickest, easiest ways to turn a profit in real estate. But with so many investors in the game, competition is driving auction prices through the roof. This book introduces both novice and experienced real estate investors to a better way to invest in foreclosures. This step-by-step guide shows you how to find great foreclosure properties, purchase the sellers equity for pennies on the dollar, and then sell the contract to another investor for quick cash.
If it sounds simple, it is! Quick Cash in Foreclosures shows you how to profit from foreclosures without risking your savings. You dont have to qualify for a loan, battle the hordes at foreclosure auctions, or pay exorbitant repair and resale costs. All you have to do is apply the authors proven system and you too can earn fast profits in the foreclosure market. With this straightforward guide, youll learn how to:
- Find owners in distress
- Purchase an owners equity, not their property
- Negotiate with the lender before foreclosure
- Purchase FHA and VA government foreclosures
- Profit in the secondary mortgage marketFannie Mae, Freddie Mac, and FDIC foreclosures
- Get the lowest purchase price at foreclosure auctions
- Flip, assign, or option your foreclosure contracts
- Use easy paperwork and clauses for maximum protection
Synopsis
Overview: According to the Mortgage Bankers Association, (12-09-03), the seasonally adjusted rate of foreclosures for FHA loans in second quarter of 2003 was the highest ever recorded in the MBA National Delinquency Survey. This bodes well for real estate investors who seek to take advantage of low interest rates and quick appreciation.
Subject Category: Foreclosure is a hot area as evidenced by recent books such as Making Big Money in Foreclosures, Dearborn, 27,098 sold '03/04, and Goldmining in Foreclosures, Fifth Edition, Wiley, 9,500 sold since 10/03.
Author History: The authors have a proven track record with their book, How To Sell Your House Without a Broker, which has sold 55,000 copies in three editions.
Publishers Track Record: John Wiley is one of the leading real estate publishers of such books as Goldmining in Foreclosures, Fourth Edition, over 90,000 in all editions, and Big Money in Foreclosures, 26,593 sold.
Synopsis
A basic guide to profiting from foreclosed properties
Quick Cash in Foreclosures covers all the basic steps in the foreclosure process from finding bargains to buying and selling foreclosed properties and every step in between. It offers step-by-step guidance on negotiating with sellers at the pre-foreclosure stage and then flipping or assigning the property to another investor for quick profit. For first-time investors and experienced investors alike, this book offers all the tools and tips the everyday investor needs to profit from foreclosure properties.
Bill Carey (Bedford, TX) has been a Realtor in both California and Texas, as well as a public speaker. Chantal Howell Carey (Bedford, TX) is a Texas real estate broker. Both authors also wrote How to Sell Your Home Without a Broker (0-471-66854-0) and The New Path to Real Estate Wealth (0-471-46791-X).
Synopsis
Foreclosure properties are one of today’s hottest investments—and one of the quickest, easiest ways to turn a profit in real estate. Quick Cash in Foreclosures shows you how to profit from foreclosures—without having to qualify for a loan, battle the hordes at foreclosure auctions, pay exorbitant repair and resale costs, and, most importantly, without risking your savings! All you have to do is apply the authors’ proven system, a step-by-step approach to finding great foreclosure properties, purchasing the seller’s equity for pennies on the dollar, and then selling the contract to another investor for quick cash. With this straightforward, practical guide, you too can profit quickly and handsomely from a foreclosed property.
About the Author
CHANTAL HOWELL CAREY, a member of ZONTA International, has handled millions in real estate sales and management as a broker, consultant, and trustee.
BILL CAREY began selling real estate in 1977, and is a former director of the San Diego Association of Realtors and the California Association of Realtors. Chantal and Bill are also seminar speakers and international real estate and trust consultants. Bill is a tax consultant as well. Together, they are also the authors of several other books, including The New Path to Real Estate Wealth and the bestselling How to Sell Your Home Without a Broker, both from Wiley.
Table of Contents
Preface.
Introduction.
1. Quick Cash in Foreclosures.
2. What is a Foreclosure?
3. Why Buy Foreclosures?
4. How to Buy Foreclosures.
5. When to Buy Foreclosures.
6. How to Find Foreclosures.
7. Negotiating with the Owner.
8. Buying the Equity.
9. Negotiating with the Lender Pre-Foreclosure.
10. FHA & VA Foreclosures.
11. Fannie Mae, Freddie Mac & FDIC Foreclosures.
12. IRS Foreclosures.
13. Buying on the Courthouse Steps.
14. Flipping Foreclosures.
15. Assigning Foreclosures.
16. Optioning Foreclosures.
17. Buying from the Lender.
18. Paperwork, Escrow, and Title Insurance.
Appendix A: Deeds Chart.
Appendix B: Loans Chart.
Appendix C: Contracts.
Glossary.
Index.