Steve Berges - The Complete Guide to Investing in Foreclosures

T he real estate market continues to be one of the hottest asset classes in the investment arena. The imbalance created by the tight supply-and-demand ratio has made it more difficult than ever for investors to find nonforeclosure properties available at bargain prices. Although buying foreclosed properties has typically been left to the pros, the record number of foreclosures in recent years has made it easier than ever for even the beginning investor to purchase them. Although other books are currently in print by other authors that deal with the topic of foreclosures, few if any address the many opportunities available through buying and selling government foreclosures. The topic of buying foreclosed properties ripe for the picking from government sources has been a well-kept secret by real estate investment insidersuntil now, that is. The Complete Guide to Investing in Foreclosures includes an entire section on the often overlooked opportunities in the government foreclosure market. Topics contained within that section include buying HUD, Fannie Mae, Freddie Mac, and VA properties. It also explores Fannie Mae and Freddie Mac foreclosure opportunities. This book also examines the advantages of purchasing houses in the post-foreclosure stage, which is much less problematic than buying in the pre-foreclosure stage, which is recommended by most authors. An additional topic that is certain to be of value to you focuses on the ability to develop an investment program starting in your spare time and gradually building into a full-time program if desired. Finally, the book contains a comprehensive section on how to locate, purchase, finance, and sell foreclosed properties.

The primary key to success in the process of buying and selling foreclosed properties is not only to understand the process, but also to act on the information once it is obtained. Although it has been said by many that knowledge is power, it is the proper application of that knowledge that is far more powerful. This book is intended to provide you with the information necessary to take advantage of the many lucrative opportunities available through investing in foreclosed properties. Once you have completed reading the book, you will have a comprehensive understanding of the exciting and dynamic world of foreclosures. It is then up to you to act on the information contained herein. Without action on your part, this book represents nothing more than words on a page. Having said that, I am confident that because you have taken the time to pick up this book and read this far, you are well ahead of the millions of people who are content to maintain the status quo. In order to unlock the door of opportunity, you must first insert the key of knowledge!

Just today, while in line at a fast-food restaurant, I overheard the young man standing next to me talking to his friend about getting a part-time job in the evening to supplement the income he was earning from his full-time day job. The young man was wearing a uniform that suggested he worked as a laborer for a landscaping company. The second job he was talking about getting was as a driver delivering goods and merchandise for another company. Although both of these jobs represent important functions that must be performed by someone, they certainly do not represent opportunities in which to build lasting and sustaining wealth. One could easily argue, in fact, that these jobs are barely sufficient to sustain this man and his family. If it were not so, I am certain he wouldnt feel the need to take on a second job. While eating my lunch at the restaurant, I reflected on this young mans desire to earn more money by working at another job. Theres a good chance that he, like millions of other people, will go through his entire life working extra part-time jobs just to make ends meet. Rather than spend an extra three or four hours working every evening for the rest of his life, he could spend that same amount of time attending college to learn a trade or profession, or perhaps reading books such as this one, and be done in 3 or 4 years instead of 30 or 40 years. The extra time required to develop new skills today is minimal when compared to the lifetime of hours spent working at part-time jobs. The short-term sacrifice required now will certainly result in long-term benefits that will bear fruit for many years to come!

For those of you who feel that you may be too busy to seek learning and knowledge, I suggest you seek ways to find a spare moment here and there to fill your mind with bits and pieces of knowledge that when aggregated may open wide the doors of opportunity. For those of you who may be contemplating attending college, but have not yet made up your minds, I pray with all the sincerity of my heart that the words of my mother may resonate within your ears as she so often told me, Stephen, honey, you are a bright young boy and have been blessed with many talents. It is time for you to begin thinking about college so that you can use them as God intended. I dont mean to imply that you must have a college education to be successful in buying and selling foreclosures, because that is certainly not the case. A college education will, however, arm you with a broad base of knowledge, allow you to sharpen your communication skills, and also enable you to learn new skills and talents within a specific and concentrated body of knowledge. Many employers today require a college degree just to get in the door for an interview. A formal education can unlock doors that would otherwise remain closed. Regardless of your decision to pursue higher education, each of you has been blessed with your own unique set of gifts and talents. Each of you possesses tremendous potential just waiting to be unlocked. You must be willing, however, to insert the key of knowledge in order to open the door of opportunity. As you pursue your own dreams and goals in life, I encourage you to set aside time each and every day to enlighten your mind with truth and light contained in the many good works written by both men and women. Remember,