U.S. Home Foreclosures Jumped 90 Percent in May: Prime Time to Invest in Foreclosures

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The bursting housing bubble and rising default rates on mortgage loans have sparked an upsurge in the number of foreclosures across the country. Current market conditions may be ushering in a once in a lifetime opportunity to invest in real estate. But when it comes to investing in foreclosure properties, both savvy real estate investors and average folks want to know how to make smart and informed choices. If you're looking for expert advice and tips on how to become a more successful investor, the newly-published, first edition of Foreclosure Investing For Dummies (Wiley; May 2007; 363 pages) by Ralph R. Roberts and Joe Kraynak (authors of the highly successful Flipping Houses For Dummies) is for you.

According to a recent Reuters report, "U.S. home foreclosures in May jumped 90 percent from a year earlier, reflecting a poor spring housing market and foreshadowing even higher levels later in 2007." The bursting housing bubble and rising default rates on mortgage loans have sparked an upsurge in the number of foreclosures across the country. Current market conditions may be ushering in a once in a lifetime opportunity to invest in real estate. But when it comes to investing in foreclosure properties, both savvy real estate investors and average folks want to know how to make smart and informed choices. If you're looking for expert advice and tips on how to become a more successful investor, the newly-published, first edition of Foreclosure Investing For Dummies (Wiley; May 2007; 363 pages) by Ralph R. Roberts and Joe Kraynak (authors of the highly successful Flipping Houses For Dummies) is for you.

Foreclosure Investing For Dummies covers all aspects of investing in foreclosure properties -- from working with distressed homeowners in pre-foreclosure, identifying and bidding on potential properties, assessing value, and working with lending institutions, to financing options, teaming up with real estate agents, and networking in your neighborhood to discover the best deals. In short, this book is for everyone looking to make smart choices, minimize risk, and maximize profits when investing in foreclosure properties.

This no-nonsense guide gives readers the start-to-finish scoop on:

  •     Jumping in early during the pre-foreclosure stage
  •     Researching property titles, mortgages and deeds
  •     Inspecting the property inside and out
  •     Building a strong investment team
  •     Obtaining financing
  •     Networking your way to success
  •     Avoiding common pitfalls
  •     Investing with integrity

Like all For Dummies® books, Foreclosure Investing For Dummies concludes with the "Part of Tens," including "Ten Common Beginner Blunders," like overestimating a property's value, overbidding in the heat of the battle, and trusting what the homeowners tell you; and "Ten Tips for Avoiding Common Foreclosure Minefields," such as anticipating delays and inspecting the property with your own eyes. The always helpful "Cheat Sheet" provides a preflight checklist and lists of how to invest in pre-foreclosures and buy properties at foreclosure auctions, and the appendix brings you up to speed on foreclosure rules and regulations in all 50 states.

About the Authors
Ralph R. Roberts's success in real estate sales is legendary. He has been profiled by the Associated Press, CNN, and Time magazine and has done hundreds of radio interviews. He's a seasoned professional in all areas of house flipping, including buying homes, rehabbing, and reselling them quickly and at a handsome profit. After losing one of his first homes in foreclosure, he decided to specialize in foreclosures, assisting homeowners facing foreclosure and often purchasing their homes directly from them or at auction, and frequently helping them retain possession of their homes. He has penned several successful titles, including Flipping Houses For Dummies, Sell It Yourself: Sell Your Home Faster and for More Money Without Using a Broker (Adams Media Corporation), Walk Like a Giant, Sell Like a Madman: America's #1 Salesman Shows You How To Sell Anything (Collins), 52 Weeks of Sales Success: America's #1 Salesman Shows You How To Close Every Deal! (Collins), and REAL WEALTH by Investing in REAL ESTATE (Prentice Hall).

Joe Kraynak is a freelance author who has written and coauthored dozens of books on topics ranging from slam poetry to computer basics. Joe teamed up with Dr. Candida Fink to produce his first book in the For Dummies series, Bipolar Disorder For Dummies. He then teamed up with Ralph to write the acclaimed Flipping Houses For Dummies, after which he returned to the doctor's office with Robert A. Wood MD to write Food Allergies For Dummies. In Foreclosure Investing For Dummies, Joe and Ralph hook up again to deliver the ultimate guide to buying and selling pre-foreclosure, foreclosure, and bank-owned properties.

For Dummies®
With near universal name recognition, more than 150 million books in print, and over 1,000 topics, For Dummies is the world's bestselling reference series. With loyal customers around the globe, For Dummies enriches people's lives by making knowledge accessible in a fun and easy way. Described by the N.Y. Times as "more than a publishing phenomenon, but a sign of the times," For Dummies span every section of the bookstore, covering everything from health to history, music to math, sports to self-help, technology to travel, and more. The Dummies brand has expanded into new products and categories with an extensive licensed product line, including fitness and hobby DVDs, grilling kits, business software, cleaning products, automotive kits, craft kits, and apparel. For more information, visit Dummies.com. For Dummies is a branded imprint of Wiley.

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