Making Money in Foreclosures

Product Details

The bestselling coauthor of Investing in Real Estate reveals the secrets behind one of the hottest investment strategies available-foreclosed real estate.

REO (or bank-owned) foreclosures offer incredible profits-but you might be fearful of buying bad properties, or getting into bidding wars with other prospective buyers. This insider's guide to buying and selling foreclosed property shows how to reduce the risk, find top properties, and rake in the profits. It's an all-in-one handbook packed with professional secrets, such as where to find the best deals, when to make the smartest offer, and how to resell at the maximum price. Even in a fluctuating market, it's one investment that really pays off.

You'll also discover

• Which kinds of properties make the best investments.
• Appraisal tips to make sure you get your money's worth.
• Eleven proven after-purchase investment strategies.
• Four distinct techniques for holding properties.
• The latest tax data and liability information on foreclosures.
• Renovations that add value to your properties.
• How to pyramid your investments for greater profit.

Biographical Note

Andrew McLean is an active investor and licensed realtor in three states, and the co-author of the bestselling real estate classic, Investing in Real Estate, now in its fifth edition. He teaches real estate investing at the University of Nevada and Mississippi Gulf Coast Community College.

Table of Contents

• Preface.
• Introduction.
• 1. Learning the Terminology and Understanding the Foreclosure Process.
• 2. Guidelines to Acquiring Foreclosures Prior to the Sale.
• 3. Guidelines to Buying at the Foreclosure Sale.
• 4. Guidelines to Buying Foreclosures After the Auction.
• 5. Key Ingredients to Making a Superior Real Estate Investment.
• 6. Inspection and Appraisal of Foreclosed Real Estate.
• 7. Financing Foreclosed Real Estate.
• 8. Making Improvements to the Fixer-Upper.
• 9. Profitable Holding Strategies After the Acquisition.
• 10. How to Profitably Manage Your Holdings.
• 11. How to Retire "On the House".
• Appendix of Useful Forms.
• Index.