Ralph R. Roberts - Foreclosure Investing For Dummies

9 Part 5: Cashing Out Your Profit … After the Sale Chapter 16: Assisting the Previous Homeowners Out the Door Tying Up the Loose Ends after the Purchase Protecting Your Investment through Redemption Planning Repairs and Renovations Evicting the Residents When Time Runs Out Chapter 17: Repairing and Renovating Your Investment Property Choosing a Renovation Strategy Planning Repairs and Renovations Giving Your Property a Quick Makeover Investing in High-Profile Rooms: Kitchens and Baths Adding Valuable Features Chapter 18: Cashing Out: Selling or Leasing Your Property Selling Through a Qualified Real Estate Agent Staging Your House for a Successful Showing Generating Interest Through Savvy Marketing Negotiating Offers and Counteroffers Closing the Deal Becoming a Landlord Chapter 19: Checking Out Other Cash-Out Strategies Refinancing to Cash Out the Equity Reselling the Property to the Previous Owners or Their Family Leasing the Property to the Foreclosed-on Homeowners Offering a Lease-Option Agreement Assigning Your Position to a Junior Lienholder

10 Part 6: The Part of Tens Chapter 20: Ten Common Beginner Blunders Having Insufficient Funds on Hand Overestimating a Property's Value Underestimating Your Holding Costs Overbidding in the Heat of Battle Failing to Investigate the Title Failing to Inspect the Property with Your Own Eyes Bidding on a Second Mortgage or Junior Lien Renovating a Property before You Own It Trusting What the Homeowners Tell You Getting Greedy Chapter 21: Ten Ways to Maximize Future Leads by Acting with Integrity Stopping the Bleeding: Providing Basic Financial Advice Assisting Homeowners in Their Job Search Suggesting That the Homeowners Seek Help from Family and Friends Encouraging the Homeowners to Contact Their Lenders … and Soon Suggesting Short Sales and Other Debt Negotiations Assisting Homeowners in Assessing Their Refinance Options Suggesting the Option of Selling the House before Foreclosure Bringing Up the Bankruptcy Option Offering a Helping Hand Revealing the Option to Walk Away Chapter 22: Ten Tips for Avoiding Common Foreclosure Minefields Steer Clear of Foreclosure Investment Scams Research the Title Yourself Inspect the Property with Your Own Eyes Know What You're Bidding On Set Realistic Goals Muffle Your Emotions Invest with Integrity Anticipate Delays Foresee Unforeseen Expenses Deal with the Blame and Guilt

11 Appendix: Foreclosure Rules and Regulations for the 50 States

12 Index

13 About the Authors

14 Connect with Dummies

15 End User License Agreement

1 Chapter 4FIGURE 4-1: Sample letter to a mortgage broker.

2 Chapter 8FIGURE 8-1: Collect important details about the foreclosure property from the N...FIGURE 8-2: Record information from the foreclosure notice and public records o...FIGURE 8-3: Personally inspect the neighborhood and the exterior of the propert...

3 Chapter 9FIGURE 9-1: Write a letter of introduction, letting the homeowners know how you...FIGURE 9-2: Write a follow-up letter for the second week.FIGURE 9-3: Write a follow-up letter for the third week.FIGURE 9-4: Write a follow-up letter for the fourth week.FIGURE 9-5: Congratulate the homeowners if they work out a solution with their ...FIGURE 9-6: This phone script can guide you through your first conversation wit...FIGURE 9-7: Gather information from the homeowners.FIGURE 9-8: Ask the homeowners to sign a statement giving you permission to dis...FIGURE 9-9: Inspect the home’s interior if possible.

4 Chapter 10FIGURE 10-1: Complete the deal analysis worksheet.

5 Chapter 11FIGURE 11-1: Inform the homeowners what happened at the sale and where they sta...

6 Chapter 12FIGURE 12-1: Introduce yourself to the bank’s REO manager via a letter.FIGURE 12-2: Send a letter to the REO manager to inquire about a particular pro...

7 Chapter 13FIGURE 13-1: Go online to find HUD home listings in your state.FIGURE 13-2: Visit VRM online to view VA listings.FIGURE 13-3: HomeSteps can assist you in finding Freddie Mac homes in your area...FIGURE 13-4: Fannie Mae homes for sale.FIGURE 13-5: Sample listing for a Fannie Mae home.FIGURE 13-6: Check out the latest properties seized and being auctioned by the ...

8 Chapter 14FIGURE 14-1: Introduce yourself to the attorneys in your area who deal with ban...

9 Chapter 15FIGURE 15-1: Calculate the total payoff amount.FIGURE 15-2: Calculate the total payoff amount.

10 Chapter 17FIGURE 17-1: A renovation planner is a handy tool for estimating costs and sche...

1 Cover

2 Title Page

3 Copyright

4 Table of Contents

5 Begin Reading

6 Appendix: Foreclosure Rules and Regulations for the 50 States

7 Index

8 About the Authors

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