- Paperback: 240 pages
- Publisher: John Wiley & Sons; 3rd Edition edition (11 July 1994)
- Language English
- ISBN-10: 0471034517
- ISBN-13: 978-0471034513
- Product Dimensions: 27.2 x 21.6 x 3 cm
- Average Customer Review: 3.3 out of 5 stars See all reviews (3 customer reviews)
- Amazon Bestsellers Rank: 5,198,493 in Books (See Top 100 in Books)
- See Complete Table of Contents
Goldmining in Foreclosure Properties
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More About the Author
Product Description
Product Description
"Using your Goldmining system, there seems to be no end to the deals I’m making. You’re making me a very rich man. Thanks." —H. Marcus, Costa Mesa, California "I followed your advice to the letter and made over $12,000 on my first deal and over $15,000 on my next. Your forms and checklists are worth a fortune to me." —N. Dooley, Los Angeles, California "We bought our first home with only option money (that was refunded by our mortgage) using your ideas." —E. M. Strand, Chicago, Illinois As these telling excerpts from letters to George Achenbach confirm, "there’s gold in them thar" distress properties when you follow the practical advice in his bestselling Goldmining in Foreclosure Properties, now in an updated Third Edition. Drawing on his quarter century of experience in foreclosure transactions, Achenbach offers you the proven strategies and techniques that can help you consistently profit from today’s massive foreclosure market while assisting troubled owners at the same time. With the aid of many new and classic case studies and a treasury of utterly unique forms, worksheets, and checklists, you’ll learn how to act decisively during each stage of the distress property cycle—from the stage before legal action commences, through the filing of legal papers and auction time, to the REO (real estate owned) phase when lenders take over the property. Whether you’re an experienced investor or a first–time buyer, Achenbach’s complete money–making system will help you to:
- Focus on a specific territory and learn every relevant aspect of it
- Set comfortable goals so you don’t overextend yourself
- Pick the right foreclosure opportunities and avoid potential trouble
- Bid more successfully at auctions
- Deal effectively with lenders when property goes REO
- Create rental income and tax savings through the leasing of properties
- Resell property quickly when the time is exactly right
- Cut legal, realty, and bank costs associated with transactions—and more
From the Back Cover
"Using your Goldmining system, there seems to be no end to the deals I’m making. You’re making me a very rich man. Thanks." —H. Marcus, Costa Mesa, California "I followed your advice to the letter and made over $12,000 on my first deal and over $15,000 on my next. Your forms and checklists are worth a fortune to me." —N. Dooley, Los Angeles, California "We bought our first home with only option money (that was refunded by our mortgage) using your ideas." —E. M. Strand, Chicago, Illinois As these telling excerpts from letters to George Achenbach confirm, "there’s gold in them thar" distress properties when you follow the practical advice in his bestselling Goldmining in Foreclosure Properties, now in an updated Third Edition. Drawing on his quarter century of experience in foreclosure transactions, Achenbach offers you the proven strategies and techniques that can help you consistently profit from today’s massive foreclosure market while assisting troubled owners at the same time. With the aid of many new and classic case studies and a treasury of utterly unique forms, worksheets, and checklists, you’ll learn how to act decisively during each stage of the distress property cycle—from the stage before legal action commences, through the filing of legal papers and auction time, to the REO (real estate owned) phase when lenders take over the property. Whether you’re an experienced investor or a first–time buyer, Achenbach’s complete money–making system will help you to:
- Focus on a specific territory and learn every relevant aspect of it
- Set comfortable goals so you don’t overextend yourself
- Pick the right foreclosure opportunities and avoid potential trouble
- Bid more successfully at auctions
- Deal effectively with lenders when property goes REO
- Create rental income and tax savings through the leasing of properties
- Resell property quickly when the time is exactly right
- Cut legal, realty, and bank costs associated with transactions—and more
Inside This Book
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First Sentence
Goldmining in Foreclosure Properties deals with homes, condos, and smaller rental units that have fallen into the "distress" category, meaning that the owners are in a hurry to sell. Read the first page
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
Goldmining in Foreclosure Properties deals with homes, condos, and smaller rental units that have fallen into the "distress" category, meaning that the owners are in a hurry to sell. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews
Most Helpful Customer Reviews
5 of 5 people found the following review helpful
Format:Paperback
What you WON'T find in Goldmining in Foreclosure Properties is any untrue hype or other type of "get rich" schemes. You won't learn how to buy properties for $1.00, nor will you find any clever plans for using OPM or anything else like that.
What you WILL get is a book that:
1) Is brutally honest with respect to the fact that it takes money to make money: "...I'd get one certified check for $90,000.00 and four $10,000.00 checks..."
2) Has embarassingly dated information: "...by the middle of the 1990's, we may have an avalanche of foreclosure and defaults..."
3) Is filled with numerous examples of the form "I bought the house, took out a 2nd mortgage, rented it to my grandmother, painted the gutters, gave a buy option to my brother-in-law, installed indoor plumbing, yada, yada, then made $1000.00 net profit a year later". Yawn.
4) Paints the investor as some sort of white knight who saves defaulters and banks. Then, in almost the same breath, says things like "immeditaely evict the tenant".
5) Does not give you any specific information. Want to know how to navigate a deed room? No dice.
The quote on the front of the book, in a very clever way, totally sums up the book: "An excellent overview of the benefits of buying foreclosures". Read that close, especially the "overview" and "benefits". What it DOESN'T say is "An excellent information source for buying foreclosures".
Don't waste your money on the book.
Format:Paperback
This book help me get staarted in Real Estate. I bought my first house as a Pre Foreclosure and made a $ 20,000.00 dollar profit. A great place to start.
Format:Paperback
Of the several foreclosure manuals I've read, this is definitely the best. The author gives several examples of his own purchases making it more believable. This one is not quite as hyped-up as the usual get-rich-easy real-estate book. The 3 phases of foreclosure, along with lots of good technical how-to details are covered. I highly recommend it!
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