Cover image for Goldmining in foreclosure properties
Goldmining in foreclosure properties
Achenbach, George, 1928-
Personal Author:
Fourth edition.
Publication Information:
New York : Wiley, [1999]

Physical Description:
x, 244 pages : illustrations ; 28 cm
General Note:
Includes index.
Format :


Call Number
Material Type
Home Location
Item Holds
HD1382.5 .C3 1999 Adult Non-Fiction Central Closed Stacks-Oversize

On Order



"Your 'Between Two Houses' ideas for finding deals is one of the best ideas in any real estate book I've ever read."--Sarah Lopez, Houston, Texas.

"My brother and I are doing this part time and so far we've made over $100,000 apiece in a little over two years."--Edgar Cole, Hartford, Connecticut.

"We made money on our first Goldmining deal to take care of all the costs on our second Goldmining home (which we are living in). Thanks."--Stan Londski, Colton, Connecticut

People all across the country are raving about George Achenbach's bestselling Goldmining in Foreclosure Properties series. Isn't it time you found out why? With this expanded Fourth Edition, the expert in foreclosure properties reveals how you can use a few simple techniques to profit from distress properties, while at the same time help troubled owners save their credit rating.

Combining proven strategies with twenty-five years' experience, 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 profit-making property. Everything you need to become a specialist in the field of 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 gives advice on adding a second floor after buying at auction.

Whether you're a first-time buyer or a seasoned investor, this comprehensive, money-making guide will show you everything you need to succeed at any stage of the distress property cycle, including:

Procedures for locating distress properties. Financial analysis techniques on 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.

Author Notes

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

Table of Contents

Introductionp. vii
1 Your Place in the Distress Property Cyclep. 1
2 Where's the Gold?p. 11
3 Some Commonly Asked Questionsp. 21
4 The Rules and the Playersp. 29
5 Overall Strategies and Proceduresp. 35
6 Between Two Housesp. 49
7 Stage I: Before Legal Action Beginsp. 61
8 Stage II: After Legal Action Beginsp. 71
9 Negotiating with Troubled Ownersp. 81
10 Negotiating with Lendersp. 99
11 Inspecting the Propertyp. 109
12 Closing the Deal with Troubled Ownersp. 121
13 Stage III: Auction Timep. 145
14 Stage IV: REOs and Reposp. 159
15 Selling for Maximum Profitsp. 169
16 Upgrading with Major Improvementsp. 183
17 Being a Real Estate Investorp. 201
18 The Time of Your Lifep. 215
Glossary of Real Estate Termsp. 219
Appendix: Selections from the California Civil Codesp. 229
Indexp. 241