Cashing in on Pre-foreclosures and Short Sales: A Real Estate Investors Guide to Making a Fortune Even in a Down Market

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(5 stars) - Solid advice
I think that with the economy in crisis, there are more opportunities to profit than ever before. The number of foreclosures in the market is higher than ever before. The author educates readers on the differences between foreclosures, pre-foreclosures, and short sales, and how to use them to profit from them. I really appreciate that the author tells readers the techniques shown in this book take work because other books or infomercials promise riches with little or no work. It's not going to happen. Get realistic. There are risks involved in real estate investing. The best thing a person can do to minimize them is by getting educated on the subject.

In addition the forms, letters, and worksheets alone are worth more than this book. They can be downloaded from the author's website in Microsoft Word format. Some of them include marketing letters to real estate agents, letters to homeowners, foreclosure tracking worksheets, and borrower authorization forms.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market

(5 stars) - Wish I had found this earlier!
I picked this up on a recommendation from an investor friend - and I wasn't disappointed!

The book has lots of practical advice and actual steps for going through the pre-foreclosure process with a homeowner - far BEFORE the lenders and other foreclosure investors get involved. I wish there had been a little more info about the short sale process (from the bank's point of view), but as the author notes - there is no standardized process in most cases.

Compared to many books I've seen, this one cuts right to the chase and lays out the strategies with very little "filler" or "fluff" that you get in many books. The author does a good job presenting examples and actual letters, and I like the option of downloading them as well.

While it won't make you a millionaire overnight, this book is a step in the right direction for me and anyone starting out investing in properties. Just wish I had found it about two years ago when I started!

(5 stars) - Author delivers on promises
I bought this book after browsing it and realizing it wasn't promising the universe. It's a straightforward, practical guide for buying foreclosures and shorts. It doesn't try to fool you into thinking it's easy, but it gives you all the necessary steps (and helpful supplemental materials) to do it.

I really liked the theme that Mr. Cummings weaves throughout the chapters: that in getting your hands a little dirty, you still need to do it with honesty and "forthrightedness". There's an underlying message that there's a right way and a wrong way to doing business, and he teaches the high-road approach. Even the password you need to enter to access the supplemental material emphasizes this theme.

The most impressive aspect of this book was the author's standing by his word. He offers his email address and encourages the reader to contact him with questions. I took him up on that and was a bit surprised to receive a timely, personalized reply, and not a pitch for more products. In fact, he followed up with me to ensure I got what I needed. For my $20, I'd say he more than delivered.

(4 stars) - Hands-on approach
A bundle of very useful information linked with the proper forms/letters that can be downloaded. I recommend this book to any serious investor interested in this market. It gives you all the necessary insights to succeed.

(3 stars) - No gimmicks, but no pizzazz either
This is a very thorough book on real estate investing, with an emphasis on buying, specifically on buying distressed houses at a discount of their actual value. When I began reading I was expecting an outline of the author's "secret" for making money on these homes in these very bad times. I got to page 145 before I realized there was no secret. After your due diligence and calculations you make an offer, and if the seller signs on the dotted line you own the home. It's yours. No arbitrage, no behind-the-scenes bank deals, no magic wand. You can then either rent it or sell it, just as you would any other piece of real estate.

This book is worth the money because the author gives excellent advice on valuing a "near-foreclosure," and in fact any home. All of which is quite useful in any market. The only problem is that to follow all his recommendations you pretty much have to quit your job (if you still have one) and have enough $$ to survive until your resell your first property. And that could be a very long time indeed. People aren't buying, banks supposedly aren't lending, and due to the job situation fewer people are moving.

As the author points out the average home is on the market for 11 months. How many investors, at this juncture, can pay taxes and maintenance on an empty investment property for 11 months? And what does this investor do when, 11 months (or 24 months) down the road, the home's price has fallen by 25, 40, or 50%?

If you think that can't happen, you haven't been watching this economy very closely.

This book would get five stars during a "normal" recession, where you expect things to pick up in six to twelve months. During a meltdown it's sheer madness to commit your time and capital to assets that probably, sadly, still have a long way down to go.

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