The Pre-Foreclosure Property Investor's Kit: How to Make Money Buying Distressed Real Estate -- Before the Public Auction

by Thomas Lucier

Book Overview

Pre-foreclosure real estate is one of the hottest investment opportunities on the market. The Pre-Foreclosure Property Investor's Kit offers step-by-step instruction and no-nonsense advice on how to find great deals, estimate fair market value, negotiate with sellers, sell your property on your own, and win big in real estate. You'll learn how to get the best deals on foreclosure properties before they go to auction and utilize simple ready-made worksheets,...

• Format: Paperback
• Language: English
• ISBN: 0471692794
• ISBN13: 9780471692799
• Release Date: December 2004
• Publisher: Wiley
• Length: 258 Pages
• Weight: 1.09 lbs.
• Dimensions: 0.6" x 7.6" x 9.3"

Customer Reviews

Don't listen to the naysayers

Someone from another country once said, this book is no good for another country and gave it low ratings... Well, duh! U.S. law only applies to U.S. stuff. This book is by far one of the best guides on pre-foreclosures and should be considered as the beginner's guide for bank foreclosures. Also, when the title says 'distressed' real estate, it's not talking about bad properties but rather properties with their mortgages no longer being paid. The difference is important because distressed properties suggest run down stuff. When actually, a lot of preforeclosures are great houses and for one reason or another the owner no longer chose to pay for it. Overall a good guide. Also on another note, I only buy books BY investors not marketing gurus or writers. Lucier is a REAL investor, with personal experience. Those are the type of authors you want to read from. Here are other books by REAL investors: Profit by Investing in Real Estate Tax Liens: Earn Safe, Secured, and Fixed Returns Every Time by Loftis Complete Guide to Real Estate Tax Liens and Foreclosure Deeds: Learn in 7 Days-Investing Without Losing Series by Sausa FLIP: How to Find, Fix, and Sell Houses for Profit by Villani

Wealth of information

Foreclosure investing is all the rage nowadays, but Thomas Lucier tells you why you must get in during the PRE-FORECLOSURE phase to really make the big bucks. There's just too much competition for properties once they reach foreclosure. The author suggests that you get to the properties before they reach foreclosure by doing your homework and locating the properties early. A letter writing campaign is his preferred method of contacting the foreclosees (is that a word???) and will follow up with subsequent letters should he not hear back from the homeowner. In addition to step by step instructions for locating properties and acquiring them, Lucier gives a treasure trove of information which you can use along the way to help make your job easier. He includes literally hundreds of websites and even provides his email address to provide help to those who need it. The book covers all the bases, however, it didn't leave me motivated. The author mentions all of the pitfalls and hard work required in this business and clearly doesn't try to mislead the reader into thinking it will be easy money. I appreciate the honesty, but must admit I won't be pursuing pre-foreclosures at this time. However, I haven't ruled it out for the future, and should I choose to do so, the book will serve as a great instructional manual in my quest.

This book is a MUST HAVE for investors!!!!!!

I have bought at least 4 programs from so called "real estate gurus". I spent less than $20 and on Thomas Lucier's book and I got more out of his book then I did out of all 4 programs. His book is easy to read. He tells you exactly what to do, what not to do and why. He educates you about foreclosures and gives you several resources so you can do your own research. I'll be going to my first foreclosure appointment tomorrow evening. I'll go over the book again and plan on using all of the forms and checklists (the book is full of forms). He also answers his emails personally. I feel confident about my appointment I'm excited but not in the least bit nervous because I've read the Foreclosure Property Investor's Kit, and I know what to do step by step.

Page After Page of Useful Facts

This is an extremely informative book focusing on buying property "pre-foreclosure". There are several helpful techniques and even more web site addresses to help the reader do the research required in making wise decisions. There is an entire page of foreclosure reporting services which inform subscribers when properties first enter the foreclosure process. Thomas also lists all sorts of public record sites, sites to locate people, demographic information sites and comparable sales data sites. There is zero hype or motivational-make a fortune type rah-rah, it's simply page after page of facts. I love facts, and will jot down and even blog a bunch of the sites mentioned, to remember them and for easy access, but a little bit of pep talk would have been a good addition. Meaning a story mixed in about how the author or so-and-so made a great deal of money doing this may have given some the push needed. By Kevin Kingston, author of: A 20,000% Gain in Real Estate: A True Story About the Ups and Downs From Wall Street to Real Estate Leading to Phenomenal Returns And my blog is: The Real Estate Investors Blog

Pre-Foreclosure Investor Kit

A realistic guide to investing in the Pre-Foreclosure real estate market. For those who are looking for advice from a long time successful and honest investor without the "become a millionaire overnight" approach. Thomas Lucier walks a beginner through every conceivable step of purchasing and reselling a Pre-Foreclosure property, providing every last detail. This book is a wealth of information, strait to the point citing many internet sources, real life examples, sample letters, check lists, and even what to say while negotiating the terms of the purchase. It becomes clear to the reader from the beginning that the author has a vast knowledge of the topic and conducts a profitable business in an honest and ethical manner. Thomas outlines all that beginners must know to succeed, while highlighting the stumbling blocks that often cause them to fail. He is very systematic in his work and advises on how to take extra precaution to be absolutely certain that you have covered all your bases and do not get ripped off. Best of all he provides his personal email and phone number for you to contact him with questions. I sent him an email asking for his advice and he got back to me within a couple of hours on a Sunday afternoon.