This is a great intro book for pre-foreclosures. I knew next to NOTHING about the foreclosure and pre-foreclosure process, now I believe I have a good grasp. I am only 20 years old and am already an investor in stocks and was looking for other investments. After reading this book you will know if you want to get into the pre-foreclosure business. The only thing I think is "wrong" about this book is that is does not give you everything you need to know...well it doesn't even give you a fraction. Read this book first if your interested in pre-foreclosures, it is a very easy read that makes common sense. Also the author obviously knows what he is talking about. The thing that you will find out when you read this book is that you will need many more books and much more information before you get started with your first pre-foreclosure deal. For example making sure you know the laws in your state about foreclosures and everything that goes with them would be a taxing job that would take allot of effort and even in some situations a lawyer's advice (you know how much they cost). So read this book for an INTRO but don't think that after your finished reading it, you will be able to jump out into your real estate market and make big bucks!

This book provides a very general overview of the foreclosure process, but it provides very little specific information that you would actually need. This book might be a good resource to the novice (like myself), but it does not get you all the way there. Try checking out a real estate investors blog.

This material is good basic information for anyone wanting to get started in buying potential foreclosure properties. Begins by explaining basic terms and processes - eg. mortgage foreclosures lead to Sheriff's Sales, while Deeds of Trust lead to "Trustee's Sales" and lack a redemption period (owners can buy back their property during this period, leaving you with nothing to show for your effort, though you do get your money back).

On average, foreclosure buyers have 90 days + 20 days publication time to work a deal with the homeowners. Buying from onwers prior to foreclosure also eliminates the redemption period. FHA and VA loans are much more likely to be assumable.

Buying at auction means having to contend with competitors, an inability to inspect the property prior to bidding, and all sales being final. After foreclosure one is less likely to get a good price, it is harder to inspect the property (utilities probably turned off).

Finding foreclosure properties is eased by looking in public records for "Lis Pendens" (judicial process) or the "Notice of Default" (non-judicial process); there is also the later Foreclosure Auction notice. Other sources include looking in the newspaper of record and/or the County Recorder database. Still other sources include divorce proceedings (likely problems with the lawyers involved), probate filings, FSBO listings, Internet sites (eg. foreclosure(s).com, street signs, Internet ads.

Author also recommends a full title search ($100-$350), and contracts written "Subject to" eg. inspections.

i wanted to learn about investing in foreclosures so i purchased this book. it's full of resources and solid advice. it's obvious that the writer has much experience in this field. the writing is easy to read and humorous at times. highly recommended.

Excellent book, writer F. Orlando give's Great insight to
the whole foreclosure process and the way to approach
this business investment. Book written in Easy to read
style, with good legal issues to consider in this business.
Great Read!