Profits from PreForeclosures
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Distress occurs in many ways. Sometimes it is caused by purely financial situations. Other times a spouse gets fed up with real estate and wants to convert everything to cash. In yet others, by the fact that a property has been transferred by will to someone at too great a distance for them to manage it.
Sometimes distress is created by relocation caused by a career move, or because of illness. Other times, it is because people want to retire but don’t have the money, or have management responsibilities for large portfolios of houses that they can only escape by selling at discount. At one time or another over half a century of building, buying, financing, leasing, etc. I have sold houses at deed discounts for all of the above reasons because I had no other alternative.
From the standpoint of someone who is willing to spend a little more money to save time, and who wants to avoid the competition that surrounds sellers who either advertise houses in For Sale By Owner advertisements or on signs; or whose houses are listed in legal notices, I’ve found that blind mailing has been worth the effort.
When you know of a foreclosure situation, personal contact prior to the foreclosure sale is the most effective buying technique. This book will teach you how to find preforeclosure opportunities LONG before your competition then how to close the deal with maximum profits!
TABLE OF CONTENTS
1 Finding Distress Market Opportunities
3 Dy-No-Mite Deals for Go-Getters
5 Plan Your Work, Then Work Your Plan
9 Starting With Limited Cash and Limited Risk
13 Finding People to Put Up The Money
16 Using Brokers and Title Companies to Help
19 Building Wealth by Controlling Equity and Income 21 Bankruptcy Caveats
25 Different Strokes Fit Different Folks
31 Avoiding Legal Problems With Distressed Lease/Options
42 Pre-foreclosure Auctions
43 Exploiting Due-On-Sale Loans
46 Making Cash King in Distress Markets
49 Motivating Pre-Foreclosure Sellers With Cash
52 Forced Lender Liquidations
57 Squeezing Distressed Lenders
63 Second-Stage Distress Concepts
65 Buying Defaulted Notes to Stop Foreclosures
67 Pre-Foreclosure Divorce Techniques
69 Mobile Home Foreclosures
71 California Caveats
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