How to Buy Foreclosed Real Estate: For a Fraction of Its Value Paperback – April 1, 2008

I don't know what the negative reviewers have read to call this book vague or undetailed. It is the MOST step-by-step, complete guide to understanding the foreclosure process and buying foreclosures available. And it doesn't rely on shady, unethical methods that attempt to hoodwink distressed homeowners and fool banks in "subject to" agreements which can put the unsuspecting investing novice into very hot water. The methods in this book are straightforward, legal, and even ethical. If you are looking at buying foreclosures to buy a home to own, to get a great deal and move up in the world, or to invest, BUY THIS BOOK!!

Some of the reviewers didn't like the author's occasional negative views of potential situations. First off, there is no negative theme/undertone throughout the book--just an occasional "here's the worst case scenario of doing it this way". Unfortunately nothing he said was untrue--and to leave these things out would be negligent and might leave the unannointed to believe that there is no risk. There is CONSIDERABLE risk. You play the odds; but he does not leave you playing the odds uneducated about what the bad side is. The book is written so that any person off the street can understand it (although there are one or two instances that someone unfamiliar with real estate will have to re-read a paragraph to get the idea). This being the case, it would be outright irresponsible to NOT give examples of the worst case scenario. I found this book an EXCELLENT primer on what's involved in the process. My family has been in real estate (brokers, construction, mortgages, appraiser, assessors--you name it) for as long as I've been alive and have dealt in foreclosures. Now I've caught the bug and read this book to "fill in the gaps" potentially left when you learn by example. And if you happen to never have problems with a tenant, then you don't live in the northeast! (which is where the author did his business)

Usual info, but more abbreviated.

For any aspiring investor, the opportunities and lenders may change, but the concept of making a deal in real estate remain the same.

VERY NICE PRODUCT, THIS PRODUCT WAS RECOMMENDED BY A FRIEND ..... THE PRICE WAS AWESOME. THIS PRODUCT WAS IN GREAT SHAPE

I thought the book was really down to earth on many topics especially the tenants! It really hit home for me and helped me to make some really big decisions, in my real estate career! I'm pushing on today because of what I learned in this book and I'm serious about that. It really explains in layman's terms how to go about EVERYTHING you want to know in foreclosures.

This book provides a pretty good introduction to buying foreclosed properties. The new edition of this book provides an explanation of the current state of the housing market. Even though it is a bit outdated because the economy is moving so fast and we are also in 2009, it is good to understand what the author is saying so that you can realize why there are opportunities to make good money. I also liked the section where the author explains how to find foreclosed properties on the internet which can most definitely be a time saver before physically going out to see the property.- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market

The author seems to make an effort at being honest. He makes it abundantly clear that buying foreclosures is very risky, something ignored or downplayed by many other books on real estate speculation (specifically I have Tyler Hicks in mind; shame on Prentice Hall!). The book starts with why there are foreclosures, how you can contact banks for safer deals, and, if you do want to go to an auction, what to do before, during and after. There's also a chapter on the dangers of zero-down deals.While I liked the content, I found the material somewhat difficult to follow. For example, in the very first chapter the author tries to explain to you what "mortgage" really is; but after re-reading the two pages three times, I still couldn't fully grasp what he meant. Maybe it's because I'm dumb. But there are many, many other sections which are not easy to comprehend, and they are not helped by fragmented sentences and illogical since-hence conclusions.In short, I think this book is worth reading if you are thinking of doing foreclosures like I was. There are some valuable tips that can help you avoid costly pitfalls; I know first-hand what a nightmare dealing with destructive tenants and former landlords can be, and so should you.