Goldmining in Foreclosure Properties

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9780471034513: Goldmining in Foreclosure Properties

"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

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From the Back Cover:

Start Building Wealth Today by Investing in Distressed Properties!

Combining proven strategies with nearly thirty years’ experience in real estate, author George Achenbach takes you step by step through the entire foreclosure process–from the first notice of default to the foreclosure sale or auction to the final disposition of the property. Everything you need to know to purchase and profit from distress properties is here, including sample forms, worksheets, checklists, and real-life examples, as well as procedures to follow, evaluation techniques, and negotiating tips. There are even suggestions on leasing homes, creating rental income, saving on taxes, and avoiding pitfalls. Additionally, a new chapter covers the pros and cons of bankruptcy and highlights the latest proposed changes in the law such as the homestead exemptions and needs-based rules.

Goldmining in Foreclosure Properties shows investors and first-time buyers how to take advantage of one of the most profitable investment opportunities in the world with expert guidance on:

  • Procedures for locating distressed properties
  • Financial analysis techniques for evaluating property and making the right offer
  • Bidding successfully at auctions
  • Effectively dealing with lenders when the property goes REO
  • How you can benefit from reselling property quickly
  • Negotiating tips for dealing with new purchasers and profitably transferring titles
  • Generating rental income, capital appreciation, and tax savings through property leasing

About the Author:

GEORGE ACHENBACH is president of a private venture capital and income property investment company. As a graduate engineer, he started 10 businesses and built more than 7,000 homes and apartments, as well as many commercial and industrial projects. He has spent more than 25 years buying and selling properties using the techniques presented in Goldmining in Foreclosure Properties, which has sold more than 50,000 copies.

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Achenbach, George
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George Achenbach
Published by Wiley (1994)
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