The Foreclosure Process

Trustee's Deed

Note and Mortgage

Security Deed

Lien versus Title

Power of Sale

Various Methods of Foreclosure Nationwide

Mortgage versus Trust Deed Foreclosure

The Judicial Process

* First Stage / Lis Pendens

The Second Stage

* Order of Judgment

* Redemption Period

The Third Stage

* The Auction

- Sheriff's Sale

- Commissioner's Sale

- Private Entities

The Trustee Sale Process (as in California)

Home Equity Sales Law

The Default Notice

Chapter Three 47

Research

Lead Gathering

* Legal Notices

* County Court House

- Complaint of Foreclosure

- The Summons

* Private Entities

* Banks or Lending Institutions

* HUD or VA

* Realtors

Pinpoint the Numbers

* Acquisition Cost

* Holding Cost

* Remodeling and Maintenance

* Selling Cost

Preparing To Bid

Properties Not Bid On

Chapter Four 57

Approaching the Owner

Contacting the Owner

* Appearance

The Introduction

When Vacant

* Death

* Jail

* Fear

* Transfer

* Bad Memories

Locating the Owner

* Writing Letters

* Questions to Ask

Chapter Five 65

Making Deals / Money with Owners

Profit Centers

* Management Technique

* Purchase

* Selling

* Sale / Lease Back with Option

* Referral

Chapter Six 75

Approaching the Lender

Contact Sources

* Yellow Pages

* Homeowner / Foreclosure Legal Notice

* Calling the attorney

* Lender Directories

* Walk Right in the Bank

Chapter Seven 81

Making Deals / Money with Lenders

Purchasing / Discounting the Mortgage

Buying Before the Auction

Buying at the Auction

Buying after the Auction

Working with Realtors

Chapter Eight 87

Creative Financing

A little Personal History

No Money Down

Creativity Is the Key

* Credit Cards

* Secure Card

* Finance Companies

* Banks

Sources for Active Investors

* Partners

* Family Or Friends

* Paper Money

- Seasonal Adjusting Payment

- Balloon Payments

- Blanket Mortgage

- Interest Rate

First Right of Refusal

Financial Resume Profile

Mortgage Hunting Tips

* Cash Back - Tax Free

* Time Ownership Limitation

* Portfolio Lender

* Loan to Value Ratio

* Terms

* Amortization

* Walk Away Power

Chapter Nine 103

Successful Tenant Management

Tenant / Landlord Relations

Determining Rent Amount

Finding a Tenant

Screening Tenants

* Section 8 Tenants

* Disabled Tenants

* Questions to Ask

* Playing Detective

In-Home Inspection

Security Deposit

The Rental Agreement

Move-In Inspection

Resident Policy and Regulation

When Tenants Go Bad

Insurance

Property Taxes

* Market Value

* Assessed Value

* Equalization Factor

* Tax Rate

* Are you Over-Assessed?

* Valuation and Tax Rate Protest

Bookkeeping

Smoke Detector Agreement

Rent Credit Program

Chapter Ten 133

Contractors

Types of Contractors

* Rip-off Artist

* Jack-of-all-Trades

* General and Sub-Contractors

* The Handyman

Locating Contractors

Best Sources to Pursue

Questions to Ask a Contractor

Inspecting the Contractor's Work

Some Things to look for

The Contractor Agreement

* Itemized Bid

* Paying the Contractor

* Labor Money

* Useful Clauses

Obtain Knowledge

Do Not Relinquish Control

Chapter Eleven 147

Remodeling and Maintenance

Lower Priced Homes

Patching vs. Replacing

Middle Priced Homes

Upper Priced Homes

General Tips

Maintenance

Routine Maintenance

Chapter Twelve 159

Contracts and Clauses

Attorney Right to Review

Minimum Essentials

Clauses to Consider

* Contingency Clause

* Earnest Money Clause

License Tip

Tax Tip

Chapter Thirteen 167

Marketing Strategies

Preparing to Sell

Pricing Your Home

Comparative Market Analysis

Marketing Activities

*Advertising

* Writing Ads

* Open Houses

* Tips for Planning a Open House

* Neighborhood Canvassing

* Bulletin Boards

* For Sale Sign

* Corporate Relocation Departments

* Local Churches

Qualified Buyers

* Show Only to Qualified Buyers

* Questions to Ask

* When a Buyer Has Home to Sell

Your Financial Specialist

To Hire an Attorney