European Parliament Library

Foreclosure investing, Joseph Kraynak, Kyle Roberts, Ralph R. Roberts

Foreclosure investing, Joseph Kraynak, Kyle Roberts, Ralph R. Roberts
index present
Literary Form
non fiction
Main title
Foreclosure investingForeclosure Investing For Dummies
Nature of contents
Oclc number
Responsibility statement
Joseph Kraynak, Kyle Roberts, Ralph R. Roberts
Series statement
--For dummies
Table Of Contents
Intro -- Title Page -- Copyright Page -- Table of Contents -- Introduction -- About This Book -- Foolish Assumptions -- Icons Used in This Book -- Beyond the Book -- Where to Go from Here -- Part 1 Prepping Yourself for Foreclosure Success -- Chapter 1 Wrapping Your Brain around Foreclosure Investing -- Investigating the Foreclosure Process from Start to Finish -- Picking Your Point of Entry -- Scooping other investors during the pre-auction stage -- Bidding on properties at foreclosure auctions -- Buying properties after the sale -- Assembling a Team of Experts and Advisers -- Getting Your Financial Ducks in a Row -- Finding Foreclosures and Seized Properties -- Performing Your Due Diligence -- Investigating the property's title and other documentation -- Inspecting the property with your own eyes -- Guesstimating a property's true value -- Investigating the situation and the homeowners -- Setting and Sticking To Your Maximum Bid -- Taking Possession of the Property -- Completing the essential paperwork -- Paying property taxes and insurance -- Persuading the current residents to move on -- Cashing Out: Realizing Your Profit -- Repairing and renovating the property to maximize its value -- Marketing and selling to get top dollar -- Cashing out equity by refinancing -- Profiting in other ways -- Chapter 2 Getting Up to Speed on the Foreclosure Process -- Identifying the Foreclosure Process in Your Area -- Foreclosure by trustee sale -- Foreclosure by judicial sale -- Exploring the Missed-Payment Notice Stage -- Getting Serious: The Notice of Default -- Proceeding to the Foreclosure Sale -- Halting the Foreclosure Process -- Reinstating the mortgage -- Requesting and receiving a forbearance -- Mortgage modification or repayment plan -- Filing for bankruptcy -- Agreeing to a deed in lieu of foreclosureGetting one last chance during the redemption period -- Finalizing the Foreclosure: Ushering the Previous Owners Out the Door -- Chapter 3 Picking Your Point of Entry in the Foreclosure Process -- Dipping In at the Pre-Auction Stage -- Exploring the pros and cons of pre-auction foreclosures -- Guiding homeowners to good decisions -- Dealing with anger and angst -- Assessing your ability to deal with pre-auction scenarios -- Pursuing Foreclosure Notices -- Knowing the benefits of waiting for the foreclosure notice -- Weighing the drawbacks of waiting for the foreclosure notice -- Wrapping up your deal before the sale -- Bidding for a Property at a Foreclosure Auction -- Weighing the pros and cons of buying at auctions -- Setting a maximum bid well in advance -- Putting on your poker face -- Acquiring Properties after the Auction -- Scoping out REO properties -- Finding and buying government properties -- Buying properties from other investors -- Waiting Out the Redemption Period - If Necessary -- Part 2 Laying the Groundwork for Maximized Profit and Minimized Risk -- Chapter 4 Building a Powerful Foreclosure Investment Team -- Lawyering Up with a Real Estate Attorney -- Teaming Up with a Good Moneyman or Woman -- Consulting a Title Company to Cover Your Back -- Hiring a Tax-Savvy Accountant -- Lining Up a Home Inspector -- Contacting Contractors and Subcontractors -- Hiring a general contractor - or not -- Tracking down top-notch contractors and subcontractors -- Contracting with contractors and subcontractors -- Finding skilled and unskilled help -- Insuring your helping hands -- Selling Your Property for Top Dollar through a Seller's Agent -- Recognizing the value of a seller's agent -- Picking an agent with the right stuff -- Assessing the Pros and Cons of Partnerships -- Chapter 5 Filling Your Foreclosure Tank with Financial FuelEstimating Your Cash Needs -- Finding a Cash Stash: Knowing Your Financing Options -- Financing with Hard-Money and Gap Loans -- Weighing the pros and cons of hard money -- Making up the difference with a gap loan -- Finding private lenders -- Partnering with Investors -- Shaking Your Piggy Bank: Tapping Your Own Resources -- Examining the pros and cons of using your own money -- Totaling your sources of investment capital -- Planning for contingencies -- Financing Your Venture with Conventional Loans -- Exploring conventional loan types -- Making yourself look good on paper -- Gathering the paperwork and records you need -- Comparison Shopping for Low-Cost Loans -- Chapter 6 Networking Your Way to Foreclosure Success -- Grasping the Power of Networking -- Generating leads on profitable pre-auction properties -- Securing your financing -- Tracking down reliable, affordable professionals -- Selling your house for more money in less time -- Realizing the Importance of Being Good -- Acting with integrity - always -- Investing in quality craftsmanship -- Building thriving communities -- Marketing Yourself -- Gathering your marketing tools -- Starting with your inner circle -- Keeping in touch: A daily chore -- Managing Contact Information -- Rewarding Good Deeds and Good Leads -- Part 3 Creating Win-Win Situations in Pre-Foreclosure (Before Auction) -- Chapter 7 Discovering Homeowners Facing Foreclosure -- Networking Your Way to Promising Properties -- Identifying your personal lead generators -- Getting the word out on the streets -- Scoping Out the Neighborhood for Dontwanners -- Searching for FSBO Properties -- Finding Foreclosure Notices -- Tracking down local publications -- Getting on the mailing list -- Subscribing to commercial foreclosure information services . . . or not -- Deciphering a foreclosure noticeTeaming Up with Attorneys to Help Distressed Clients Sell Their Homes -- Acquiring properties in probate -- Adopting homes orphaned by divorce -- Teaming up with bankruptcy attorneys -- Chapter 8 Performing Your Due Diligence -- Collecting Essential Information about the Property -- Honing your title acquisition and reading skills -- Picking up details from the foreclosure notice -- Digging up details at the Register of Deeds office -- Gathering tax information at the assessor's office -- Getting your hands on the property worksheet -- Gathering additional information -- Doing Your Fieldwork: Inspecting the Property -- Doing a drive-by, walk-around inspection -- Snapping some photos -- Assembling Your Property Dossier: A Checklist -- Recognizing the Most Common and Serious Red Flags and Big Mistakes -- Chapter 9 Contacting the Homeowners and Lenders -- Scheduling Your Foreclosure Activities -- Contacting the Homeowners Directly -- Tracking down the homeowners -- Kicking off your mail campaign -- Getting in touch over the phone -- Adding the Homeowners' Profile to Your Property Dossier -- Presenting All Available Options -- Reinstating the loan -- Negotiating with the lenders for a forbearance -- Refinancing the mortgage -- Listing the property -- Selling short -- Accepting your cash offer -- Refinancing through you -- Selling the home and leasing it with an option to buy it back later -- Selling the home and leasing it without an option to buy -- Giving a deed in lieu of foreclosure -- Filing for bankruptcy -- Waiting (and saving) during redemption -- Doing nothing -- Getting Inside to Take a Look Around -- Contacting the Lenders -- Contacting the senior lienholder -- Contacting the junior lienholders -- Chapter 10 Analyzing the Deal and Presenting Your Offer -- Completing the Deal Analysis WorksheetCalculating the homeowners' equity in the property -- Guesstimating the "as is" market value -- Calculating the amount owed on the property -- Calculating your top cash offer -- Logging the loan status -- Determining options based on LTV -- Assessing the homeowners' credit health -- Gauging the homeowners' wants -- Determining the homeowners' gross monthly income -- Assessing the Homeowners' Options -- Presenting Your Offer: The Purchase Agreement -- Closing Time -- Part 4 Finding and Buying Foreclosure and Bankruptcy Properties -- Chapter 11 Bidding for Properties at a Foreclosure Sale -- Tracking Down Auction Dates, Times, and Places -- Preparing Your Maximum Bid -- Guesstimating the property's improved value -- Estimating repair and renovation costs -- Figuring in holding costs -- Subtracting agent commissions and closing costs -- Arriving at your maximum bid amount -- Bidding at a Foreclosure Auction -- Packing for an auction -- Sitting in on a few auctions -- Crafting a winning bidding strategy -- Submitting sealed bids -- Playing the Role of Backup Buyer -- Following Up After the Auction -- Chapter 12 Buying Repos: Bank Foreclosures and REO Properties -- Acknowledging the Drawbacks of REO Opportunities -- Getting Up to Speed on the REO Process -- Shaking the Bushes for REO Properties -- Positioning yourself as an attractive investor -- Connecting with REO brokers -- Getting connected with REO A-listers -- Tracking the property through the REO stage -- Working your way to the better deals -- Following up with homeowners during redemption -- Inspecting the Property -- Timing Your Offer for Optimum Results -- Acting quickly after the auction -- Timing your move with the redemption period -- Tuning in to the lender's fiscal calendar -- Waiting for the broker to list the house -- Pitching an Attractive Offer -- Sizing up the lender's needsReevaluating your needs
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