Making Big Money Investing in Foreclosures Without Cash or Credit, 2nd Ed doc

[...]... Making Big Money Investing in Real Estate Without Tenants, Banks, or Rehab Projects as well as the first edition of Making Big Money Investing in Foreclosures such a huge xv foreclose_00_fm_final.indd xv 4/3/07 12:56:26 PM xvi Acknowledgments success but who put in much effort to make this book a useful tool to foreclosure investors Barbara McNichol—you are a wonderful editor Thanks for working with... Sarah? During her first 12 months of investing, she completed 10 deals and earned more than $150,000 net profit Today, she specializes 1 foreclose_01_3R.indd 1 4/2/07 11:00:52 AM 2 Making Big Money Investing in Foreclosures in buying preforeclosures and foreclosure properties in her hometown and earns a lot more money than when she first started investing I’m not going to tell you she had it easy—just... did take money to make money (which it doesn’t), no one said it takes your own money to make money One of the advantages of investing in foreclosures is that it’s easy to use other people’s money to make money You can potentially foreclose_01_3R.indd 9 4/2/07 11:00:56 AM 10 Making Big Money Investing in Foreclosures tap into thousands of dollars in profits created through buying properties using other... money investing in foreclosures foreclose_01_3R.indd 13 4/2/07 11:00:58 AM foreclose_01_3R.indd 14 4/2/07 11:00:58 AM C h a p t e r 2 THE BIG PICTURE OF INVESTING IN FORECLOSURES I nvesting in foreclosures and preforeclosures has proven to be a rewarding and profitable niche for investors who know what they’re doing Anyone with the right attitude, the specialized knowledge, and the willingness to practice... your financial destiny and get out of the rat race All across the United States, foreclosure rates are climbing like rockets and bursting onto investors’ radar screens Now is the time to cash in on these unprecedented bargains for yourself and help other people at the same time Don’t miss out on big opportunities to make money investing in foreclosures The following indicators have helped drive the foreclosure... commit to never settling ■ for less again When I started investing in real estate, I had just graduated from college I was looking for a way to succeed in life without having to work for a big corporation for 40 years I was scrimping by on my small savings because I wanted to prove to my parents that I really could make it on my own That’s when I first got started with my investing Over the next two... massive increase in opportunities for foreclosure investors HOW TO INVEST IN TODAY’S CHANGING MARKET CONDITIONS Prudent investors have always known that you can make a lot of money investing in real estate in any market And if you stick with your investing for long enough, most likely you’ll get the chance to invest in every kind of market—from depreciating markets where home values are dropping to flat... debt is at an historic high, while savings foreclose_01_3R.indd 3 4/2/07 11:00:54 AM 4 Making Big Money Investing in Foreclosures rates are at historic lows For the past 30 years, the number of people not covered by health insurance has climbed above 50 percent (Source: Federal Deposit Insurance Corporation Division of Research and Statistics) According to the Mortgage Bankers Association of America,... job or corporation for her income She decided to start investing in real estate A few months after she made this decision, she came to a workshop we hosted in San Diego She sat right in the front row and took page after page of notes Hungry to learn how to build wealth by starting up a real estate investing business, she asked probing questions at every break How did things turn out for Sarah? During... situations and finding a win-win way to solve a problem they’re embarrassed and scared to admit they even have Investing in foreclosures is like holding the core of your being up to a mirror If you are a good person, what reflects back is that you help people and get paid well for doing it Isn’t that what business is all about—providing value and getting paid handsomely for it? ‘‘ foreclose_01_3R.indd 11 ■ . Estate Without Tenants, Banks, or Rehab Projects as well as the  rst edition of Making Big Money Investing in Foreclosures such a huge foreclose_00_fm_final.indd xvforeclose_00_fm_final.indd. Peter’s book on investing in foreclosures. I attended the Ultimate Investors Bootcamp train- ing with The Success Team in Denver in May 2006. I started mailing letters and calling foreclosures. THE FIRST EDITION OF Making Big Money Investing in Foreclosures Without Cash or Credit: Michael King I knew that there was more to life than a job and I could achieve it if I was willing to make