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Reviews (2)
08 December 2008
There's a Downside To Buying Foreclosed Property
I bought this book because I was curious to read what this experienced buyer of forclosed property had to say about the subject.
I got involved about three years ago in purchasing foreclosed property, but after a couple months of running after property and standing on court house steps ready to bid and finding out the owners came up with the money owed, I became very disallusioned. Moreover, I'd also talked with several people who had purchased foreclowsed property and the horror stories of getting the people out cooled me on the process.
This author does go through the steps of purchasing foreclosed property, and does an excellent job, but very little was mentioned abount the downside, and there are two very distinct downsides in my opinion. First, you cannot have an inspection before bidding on the property. And second, you have to deal with getting the former owners out. However, the author did mention that sometimes when he took over a house, he found many parts of the house destroyed.
Perhaps I was hoping that this author found a way to avoid the above pitfalls, but no such luck. It's just the nature of the beast. Not every real estate investor finds this method of investing to their liking.
08 December 2008
New Thoughts, Ideas About Real Estate Investing
I invest in rentals. This author gave me some new thoughts and ideas about real estate investments. It is important to read as much as one has time for on real estate to be successful. This is one of the reasons I purchased the book.