Cover image for Goldmining in foreclosure properties
Goldmining in foreclosure properties
Achenbach, George, 1928-
Personal Author:
Fifth edition.
Publication Information:
Hoboken, N.J. : J. Wiley, [2003]

Physical Description:
x, 259 pages : illustrations ; 27 cm
General Note:
Includes index.
Format :


Call Number
Material Type
Home Location
Item Holds
HD1382.5 .C3 2003 Adult Non-Fiction Open Shelf

On Order



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

Author Notes

George Achenbach is president of a private venture capital and income property investment company

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
19 Dealing with Bankruptcy Casesp. 219
Glossary of Real Estate Termsp. 233
Appendix Selections from the California Civil Codesp. 243
Indexp. 255