Cashing in on Pre-foreclosures and Short Sales: A Real Estate Investor's Guide to Making a Fortune Even in a Down Market
by: Chip Cummings
Cashing in on Pre-foreclosures and Short Sales: A Real Estate Investor's Guide to Making a Fortune Even in a Down Market
By Chip Cummings
Publisher: Wiley
Number Of Pages: 320
Publication Date: 2009-02-09
ISBN-10 / ASIN: 0470419814
ISBN-13 / EAN: 9780470419816
Product Description:
Cashing in on Pre-foreclosures and Short Sales shows investors exactly how to take advantage of what many are calling the best upcoming investment real estate market we have experienced in decades! Chip distinguishes the difference between good deals and bad deals, reveals just how easy it is to find, evaluate, and obtain foreclosure properties, tells how to negotiate a profitable transaction, and unveils the power of using short sales and other strategies to create a win-win situation for the investor, the seller, and the bank. Even first-time buyers looking to score a bargain on purchasing their own home will be armed with all the tools they need to confidently evaluate and pursue a profitable deal - and save thousands in the process. Cashing In on Pre-foreclosures and Short Sales incorporates quotes and advice from top industry professionals, as well as a healthy appendix packed with state and national foreclosure guidelines, including valuable contacts and websites, sample forms, checklists, and all the necessary tools you need to find, evaluate, secure and profit from foreclosure properties.
Summary: Wish I had found this earlier!
Rating: 5
I picked this up on a recommendation from an investor friend - and I wasn't disappointed!
The book has lots of practical advice and actual steps for going through the pre-foreclosure process with a homeowner - far BEFORE the lenders and other foreclosure investors get involved. I wish there had been a little more info about the short sale process (from the bank's point of view), but as the author notes - there is no standardized process in most cases.
Compared to many books I've seen, this one cuts right to the chase and lays out the strategies with very little "filler" or "fluff" that you get in many books. The author does a good job presenting examples and actual letters, and I like the option of downloading them as well.
While it won't make you a millionaire overnight, this book is a step in the right direction for me and anyone starting out investing in properties. Just wish I had found it about two years ago when I started!
Summary: Author delivers on promises
Rating: 5
I bought this book after browsing it and realizing it wasn't promising the universe. It's a straightforward, practical guide for buying foreclosures and shorts. It doesn't try to fool you into thinking it's easy, but it gives you all the necessary steps (and helpful supplemental materials) to do it.
I really liked the theme that Mr. Cummings weaves throughout the chapters: that in getting your hands a little dirty, you still need to do it with honesty and "forthrightedness". There's an underlying message that there's a right way and a wrong way to doing business, and he teaches the high-road approach. Even the password you need to enter to access the supplemental material emphasizes this theme.
The most impressive aspect of this book was the author's standing by his word. He offers his email address and encourages the reader to contact him with questions. I took him up on that and was a bit surprised to receive a timely, personalized reply, and not a pitch for more products. In fact, he followed up with me to ensure I got what I needed. For my $20, I'd say he more than delivered.
Summary: Hands-on approach
Rating: 4
A bundle of very useful information linked with the proper forms/letters that can be downloaded. I recommend this book to any serious investor interested in this market. It gives you all the necessary insights to succeed.
Summary: No gimmicks, but no pizzazz either
Rating: 3
This is a very thorough book on real estate investing, with an emphasis on buying, specifically on buying distressed houses at a discount of their actual value. When I began reading I was expecting an outline of the author's "secret" for making money on these homes in these very bad times. I got to page 145 before I realized there was no secret. After your due diligence and calculations you make an offer, and if the seller signs on the dotted line you own the home. It's yours. No arbitrage, no behind-the-scenes bank deals, no magic wand. You can then either rent it or sell it, just as you would any other piece of real estate.
|
|
|