Full Description

Insider Tips, Strategies and Insights to:
- Supplement Your Income
- Seek Out Troubled Properties
- Eliminate Problem Properties

Foreclosed properties are the best opportunity for you to find a great home for yourself, to lease out as rental property or to serve as an investment for years to come. Denise Evans reveals a lifetime of insider tips, strategies and insights critical for anyone with the desire to buy foreclosure properties honorably and fairly.

How to Make Money on Foreclosures provides dozens of proven tools that really work to make you money.

Includes Exclusive Worksheets and Samples, such as:
- Property Evaluators
- Sample Ads and Flyers
- Letters to Potential Sellers
- Inspection Checklists
- Profit vs. Cash Flow Evaluator
- Lender Packets
- Potential Seller Interview Sheet
- Comparable Homes Worksheet
- Repair Expense Calculator
- Referral Letter
- Real Estate Contract Explainer
- And much, much more

Helping others can make you RICH!

Table of Contents

Introduction -

Chapter 1: Choose to Be a Hero -
-Become a Professional
-Help Others
-Your First Steps
-Meet Jim

Chapter 2: Learn to Talk the Talk -
-Instant Credibility
-Income Stream
-Land
-Due Diligence
-Property Types
-Commercial
-Flipping

Chapter 3: Buy a Property for Your Personal Residence -
-Evaluate What You Want
-Screen Your Choices
-Determine if You Can Afford It

Chapter 4: Decide What You Want in Investment Property -
-Do you want to immediately supplement your income?
-Do you want to concentrate on building future income?
-Do you want the equivalent of a savings account?
-Do you want to buy and sell properties fairly rapidly?
-Put the Tools in Practice
-The Bottom Line

Chapter 5: The Inside Scoop on Real Estate Loans -
-Individuals
-Financial Institutions
-Governmental Sources
-Institutional Lenders
-The Paperwork
-Grading the Property Owner

Chapter 6: When Good Loans Go Bad -
-Loans in Securitized Pools
-Work the Workout Department
-The Bank’s Prepwork

Chapter 7: Find Troubled Properties, Early -
-Get to Those Who Need You
-Enlist the Lender
-Sample Letters to Create Name Recognition
-Other Groups of Referrers
-Seminars
-Lead Services and Advertising
-Sample Ads Promoting Your Services
-Other Ways to Find Distressed Properties
-Sample Contact Letter

Chapter 8: Find Borrowers from Public Notices -
-Ask for Help
-Torrens
-Lis Pendens
-Court Actions
-Nonjudicial Foreclosure States
-The Notice

Chapter 9: Eliminate Potential Problems, Quickly -
-Make the Easy Cuts
-Going to Round Two

Chapter 10: Interview the Borrower -
-The Initial Contact
-Before the First Meeting
-The First Meeting
-Make the Meeting a Success
-When You Can’t Help

Chapter 11: Legal and Practical Due Diligence -
-Priority of Liens
-Sample Estoppel Letter
-Buying a Lien Search
-Title Insurance
-Doing a Lien Search Yourself
Chapter 12: Estimate Fair Market Value -
-Calculate a Value
-Profile of Comparable Homes
-Comparable Home Sales Analysis

Chapter 13: Rental Properties and Cash Flow -
-On Paper
-Profit vs. Cash Flow
-NOI and Cash Flow

Chapter 14: Additional Costs to Factor into Your Planning -
-Property Acquisition Expenses
-Closing Costs
-Calculate Closing Costs
-Holding Costs of Investment Property
-The Fixer-Upper
-Repair Calculation Worksheet
-Sales Cost
-Put the Pieces Together

Chapter 15: Structure a Deal with the Borrower -
-California and Consumer Protections
-No-Equity Asset Purchase
-Equity Purchase
-Value of Equity Worksheet
-Equity Repurchase
-Equity Repurchase Worksheet

Chapter 16: Structure a Deal with the Lender -
-Maximize Assets and Income
-Minimize Risk and Expenses
-Protect Themselves

Chapter 17: Go to Foreclosure Sales -
-Practice First
-Go to Sales
-The Anxious Lender
-After the Auction
-Redemption Rights
-Possible Changes
-Deficiencies

Chapter 18: Buy after Foreclosure -
-Local Lenders’ ORE Departments
-Property Magazine
-Following Up on Foreclosure Notices
-Government Foreclosures
-Property Search at Courthouse

Chapter 19: What Happens after the Purchase -
-I won’t have anyplace else to live.
-I can’t afford a security deposit someplace else.
-I can’t afford to move my stuff.
-I have too much stuff and it won’t fit anyplace else.
-I’m sentimentally attached to this place.
-My dog is buried in the back yard.
-I don’t want the neighbors to know I’ve been forced out of
my home.
-I don’t want the children to change schools until the end of
the year.
-Keeping the Owner as a Tenant
-Renting to a Former Owner Worksheet
-Problems at Closing
-Manage the Move

Chapter 20: Tax Considerations -
-Deductions
-Depreciation
-Income Taxes During Ownership
-Income Taxes on Home Sales
-Deferring Taxes

Chapter 21: Go Out and Be a Hero -

Glossary -
Appendix: Understanding the Real Estate Contract -
Index -
About the Author -

Excerpt

Editorial Reviews

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