The Pre-Foreclosure Real Estate
Handbook: Insider Secrets to
Locating and Purchasing Pre-
Foreclosed Properties in Any Market
by Frankie Orlando
Good Background Information
The Pre-Foreclosure Real Estate Handbook explains everything you need
to know to locate and purchase real estate bargains from banks, public
auctions, and other sources. Whether you are a first-time homeowner or
an experienced property investor, The Pre-Foreclosure Real Estate
Handbook is a tremendous guide for buying pre-foreclosed homes in any
market. You will learn the simple formula (developed from real-life
experience) that can build massive wealth through real estate foreclosures.
The Federal Reserve Bank indicates....that foreclosed properties average
22% less than typical properties. Home foreclosures are at their highest

peak in years; you can be one of the thousands earning six-figure incomes
in this lucrative segment of the real estate marketplace. You can do this
part-time or full-time. Learn how to buy directly from property owners
whose mortgage loans are in default and stay away from courthouse-
bidding feuds. With the help of this new book, property investing can be a
very lucrative line of work. You will learn how to identify the most valuable
properties and control every step of the procedure. We spent thousands
of hours interviewing, e-mailing, and communicating with hundreds of
today’s most successful real estate investors. If you are interested in
learning hundreds of hints, tricks, and secrets on how to make money (or
more money) investing in real estate foreclosures, then this book is for
you! The Pre-Foreclosure Real Estate Handbook is the resource for
novices and pros alike; it will guide you through every step of the process
including finding properties, negotiating, and closing on your first deal. This
new exhaustively researched book will arm you with hundreds of
innovative ideas that you can put to use right away. This book gives you
the proven strategies, innovative ideas, and case studies from experts to
help you get more with less time and effort.
Personal Review: The Pre-Foreclosure Real Estate Handbook:
Insider Secrets to Locating and Purchasing Pre-Foreclosed
Properties in Any Market by Frankie Orlando
This material is good basic information for anyone wanting to get started in
buying potential foreclosure properties. Begins by explaining basic terms
and processes - eg. mortgage foreclosures lead to Sheriff's Sales, while
Deeds of Trust lead to "Trustee's Sales" and lack a redemption period
(owners can buy back their property during this period, leaving you with
nothing to show for your effort, though you do get your money back).
On average, foreclosure buyers have 90 days + 20 days publication time to
work a deal with the homeowners. Buying from onwers prior to foreclosure
also eliminates the redemption period. FHA and VA loans are much more
likely to be assumable.
Buying at auction means having to contend with competitors, an inability to
inspect the property prior to bidding, and all sales being final. After
foreclosure one is less likely to get a good price, it is harder to inspect the
property (utilities probably turned off).
Finding foreclosure properties is eased by looking in public records for "Lis
Pendens" (judicial process) or the "Notice of Default" (non-judicial
process); there is also the later Foreclosure Auction notice. Other sources
include looking in the newspaper of record and/or the County Recorder
database. Still other sources include divorce proceedings (likely problems
with the lawyers involved), probate filings, FSBO listings, Internet sites (eg.
foreclosure(s).com, street signs, Internet ads.
Author also recommends a full title search ($100-$350), and contracts
written "Subject to" eg. inspections.

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