Learn to: b
• Evaluatebpotentialblenders
• Maximizeb yourbcashb flow
• Financeb throughb privateb lenders
• Tapbintobgovernmentbprograms
Ralph R. Roberts
b b
Realbestatebprofessionalbandbcoauthorbof
ForeclosurebInvestingbForbDummies
Chip Cummings
b
Realbestatebfinancingbexpertbandbauthor
,
,FinancingRealEstate b b
Investments
FOR
DUMmIES
‰
by Ralph R.Roberts and Chip
b b b b b b
Cummings with Joe Kraynak
b b b
, FinancingbRealbEstatebInvestmentsbForbDummies®
Publishedb by
WileybPublishing,bInc.
111bRiverbSt.
Hoboken,b NJb 07030-5774
www.wiley.com
Copyrightb©b2009bbybWileybPublishing,bInc.,bIndianapolis,bIndian
ab PublishedbbybWileybPublishing,bInc.,bIndianapolis,bIndianab Pu
blishedbsimultaneouslybinbCanada
Nob partb ofb thisb publicationb mayb beb reproduced,b storedb inb ab retrievalb systemb orb transmittedb inb anyb f
ormb orb byb anyb means,b electronic,b mechanical,b photocopying,b recording,b scanningb orb otherwise,b except
b asb permit-
b tedb underb Sectionsb 107b orb 108b ofb theb 1976b Unitedb Statesb Copyrightb Act,b withoutb eitherb theb priorb writ
tenb per-b missionb ofb theb Publisher,b orb authorizationb throughb paymentb ofb theb appropriateb per-
copyb feeb tob theb CopyrightbClearancebCenter,b222bRosewoodbDrive,bDanvers,bMAb01923,b(978)b750-
8400,bfaxb(978)b646-
8600.b Requestsb tob theb Publisherb forb permissionb shouldb beb addressedb tob theb Permissionsb Department,
b Johnb Wileyb &bSons,bInc.,b111bRiverbStreet,bHoboken,bNJb07030,b(201)b748-6011,bfaxb(201)b748-
6008,borbonlinebatb http://www.wiley.com/go/permissions.
Trademarks:bWiley,bthebWileybPublishingblogo,bForbDummies,bthebDummiesbManblogo,bAbReferencebfo
rbtheb RestbofbUs!,bThebDummiesbWay,bDummiesbDaily,bThebFunbandbEasybWay,bDummies.com,bMaking
bEverythingb Easier,bandbrelatedbtradebdressbarebtrademarksborbregistered btrademarksbofbJohnbWileyb&
bSons,bInc.band/orb itsbaffiliatesbinbthebUnitedbStatesbandbotherbcountries,bandbmaybnotbbebusedbwithou
tbwrittenbpermission.bAllb otherbtrademarksbarebthebpropertybofbtheirbrespectivebowners.bWileybPublish
ing,bInc.,bisbnotbassociatedbwithb anybproductborbvendorbmentionedbinbthisbbook.
LIMITbOFbLIABILITY/DISCLAIMERbOFbWARRANTY:bTHEbPUBLISHERbANDbTHEbAUTHORbMAKEbNOb
REP-
b RESENTATIONSbORbWARRANTIES bWITHbRESPECTbTObTHEbACCURACYbORbCOMPLETENESSbOFb
THEb CONTENTSbOFbTHISbWORKbANDbSPECIFICALLYbDISCLAIMbALLbWARRANTIES,bINCLUDINGb
WITHOUTb LIMITATION bWARRANTIESbOFbFITNESSbFORbAbPARTICULARbPURPOSE.bNObWARRAN
TYbMAYbBEbCRE-
b ATEDbOR bEXTENDED bBYbSALESbORbPROMOTIONALbMATERIALS.bTHE bADVICEbANDbSTRATEGIE
SbCON-
b TAINEDbHEREINbMAYbNOTbBEbSUITABLEbFORbEVERYbSITUATION.bTHISbWORKbISbSOLDbWITHb
THEb UNDERSTANDINGbTHATbTHEbPUBLISHERbISbNOTbENGAGEDbINbRENDERINGbLEGAL,bACCOU
NTING,bORb OTHERbPROFESSIONAL bSERVICES.bIFbPROFESSIONALbASSISTANCEbISbREQUIRED,bTH
EbSERVICESbOFbAb COMPETENTbPROFESSIONALbPERSONbSHOULDbBEbSOUGHT.bNEITHERbTHEbP
UBLISHERbNORbTHEb AUTHORbSHALLbBEbLIABLEbFORbDAMAGESbARISINGbHEREFROM.bTHEbFACT
bTHATbANbORGANIZATIONb ORbWEBSITEbISbREFERREDbTObINbTHISbWORKbASbAbCITATIONbAND/
ORbAbPOTENTIALbSOURCEbOFbFUR-
b THERbINFORMATIONbDOESbNOTbMEANbTHATbTHEbAUTHORbORbTHEbPUBLISHERbENDORSESbT
HEb INFORMATIONbTHEbORGANIZATIONbORbWEBSITEbMAYbPROVIDEbORbRECOMMENDATIONSbI
TbbMAY
For b MAKE.
general bFURTHER,
binformation bonbb READERS
our bSHOULD
bother bproducts bBEbbservices,
band AWAREbbplease
THATbcontact
INTERNETbourbbWEBSITES bLISTED
CustomerbCare bIN
bDepart
bTHIS
ment bWORK
b within b MAY
bthe HAVE
bU.S.bbat bCHANGEDbboutside
b877-762-2974, ORbDISAPPEARED bBETWEEN bWHEN
bthebU.S.batb317-572-3993,borbfax THIS
bb bWORKbWASbWRI
317-572-4002.
TTENbANDbWHENbITb ISbREAD.
Forb technicalb support,b pleaseb visitb www.wiley.com/techsupport.
Wileybalsobpublishesbitsbbooksbinbabvarietybofbelectronicbformats.bSomebcontentbthatbappearsbinbprint
bmayb notbbebavailablebinbelectronicbbooks.
LibrarybofbCongressbControlbNumber:b200992103
0b ISBN:b978-0-470-42233-5
ManufacturedbinbthebUnitedbStatesbofbAmerica
10b 9b 8b 7b 6b 5b 4b 3b 2b 1
• Evaluatebpotentialblenders
• Maximizeb yourbcashb flow
• Financeb throughb privateb lenders
• Tapbintobgovernmentbprograms
Ralph R. Roberts
b b
Realbestatebprofessionalbandbcoauthorbof
ForeclosurebInvestingbForbDummies
Chip Cummings
b
Realbestatebfinancingbexpertbandbauthor
,
,FinancingRealEstate b b
Investments
FOR
DUMmIES
‰
by Ralph R.Roberts and Chip
b b b b b b
Cummings with Joe Kraynak
b b b
, FinancingbRealbEstatebInvestmentsbForbDummies®
Publishedb by
WileybPublishing,bInc.
111bRiverbSt.
Hoboken,b NJb 07030-5774
www.wiley.com
Copyrightb©b2009bbybWileybPublishing,bInc.,bIndianapolis,bIndian
ab PublishedbbybWileybPublishing,bInc.,bIndianapolis,bIndianab Pu
blishedbsimultaneouslybinbCanada
Nob partb ofb thisb publicationb mayb beb reproduced,b storedb inb ab retrievalb systemb orb transmittedb inb anyb f
ormb orb byb anyb means,b electronic,b mechanical,b photocopying,b recording,b scanningb orb otherwise,b except
b asb permit-
b tedb underb Sectionsb 107b orb 108b ofb theb 1976b Unitedb Statesb Copyrightb Act,b withoutb eitherb theb priorb writ
tenb per-b missionb ofb theb Publisher,b orb authorizationb throughb paymentb ofb theb appropriateb per-
copyb feeb tob theb CopyrightbClearancebCenter,b222bRosewoodbDrive,bDanvers,bMAb01923,b(978)b750-
8400,bfaxb(978)b646-
8600.b Requestsb tob theb Publisherb forb permissionb shouldb beb addressedb tob theb Permissionsb Department,
b Johnb Wileyb &bSons,bInc.,b111bRiverbStreet,bHoboken,bNJb07030,b(201)b748-6011,bfaxb(201)b748-
6008,borbonlinebatb http://www.wiley.com/go/permissions.
Trademarks:bWiley,bthebWileybPublishingblogo,bForbDummies,bthebDummiesbManblogo,bAbReferencebfo
rbtheb RestbofbUs!,bThebDummiesbWay,bDummiesbDaily,bThebFunbandbEasybWay,bDummies.com,bMaking
bEverythingb Easier,bandbrelatedbtradebdressbarebtrademarksborbregistered btrademarksbofbJohnbWileyb&
bSons,bInc.band/orb itsbaffiliatesbinbthebUnitedbStatesbandbotherbcountries,bandbmaybnotbbebusedbwithou
tbwrittenbpermission.bAllb otherbtrademarksbarebthebpropertybofbtheirbrespectivebowners.bWileybPublish
ing,bInc.,bisbnotbassociatedbwithb anybproductborbvendorbmentionedbinbthisbbook.
LIMITbOFbLIABILITY/DISCLAIMERbOFbWARRANTY:bTHEbPUBLISHERbANDbTHEbAUTHORbMAKEbNOb
REP-
b RESENTATIONSbORbWARRANTIES bWITHbRESPECTbTObTHEbACCURACYbORbCOMPLETENESSbOFb
THEb CONTENTSbOFbTHISbWORKbANDbSPECIFICALLYbDISCLAIMbALLbWARRANTIES,bINCLUDINGb
WITHOUTb LIMITATION bWARRANTIESbOFbFITNESSbFORbAbPARTICULARbPURPOSE.bNObWARRAN
TYbMAYbBEbCRE-
b ATEDbOR bEXTENDED bBYbSALESbORbPROMOTIONALbMATERIALS.bTHE bADVICEbANDbSTRATEGIE
SbCON-
b TAINEDbHEREINbMAYbNOTbBEbSUITABLEbFORbEVERYbSITUATION.bTHISbWORKbISbSOLDbWITHb
THEb UNDERSTANDINGbTHATbTHEbPUBLISHERbISbNOTbENGAGEDbINbRENDERINGbLEGAL,bACCOU
NTING,bORb OTHERbPROFESSIONAL bSERVICES.bIFbPROFESSIONALbASSISTANCEbISbREQUIRED,bTH
EbSERVICESbOFbAb COMPETENTbPROFESSIONALbPERSONbSHOULDbBEbSOUGHT.bNEITHERbTHEbP
UBLISHERbNORbTHEb AUTHORbSHALLbBEbLIABLEbFORbDAMAGESbARISINGbHEREFROM.bTHEbFACT
bTHATbANbORGANIZATIONb ORbWEBSITEbISbREFERREDbTObINbTHISbWORKbASbAbCITATIONbAND/
ORbAbPOTENTIALbSOURCEbOFbFUR-
b THERbINFORMATIONbDOESbNOTbMEANbTHATbTHEbAUTHORbORbTHEbPUBLISHERbENDORSESbT
HEb INFORMATIONbTHEbORGANIZATIONbORbWEBSITEbMAYbPROVIDEbORbRECOMMENDATIONSbI
TbbMAY
For b MAKE.
general bFURTHER,
binformation bonbb READERS
our bSHOULD
bother bproducts bBEbbservices,
band AWAREbbplease
THATbcontact
INTERNETbourbbWEBSITES bLISTED
CustomerbCare bIN
bDepart
bTHIS
ment bWORK
b within b MAY
bthe HAVE
bU.S.bbat bCHANGEDbboutside
b877-762-2974, ORbDISAPPEARED bBETWEEN bWHEN
bthebU.S.batb317-572-3993,borbfax THIS
bb bWORKbWASbWRI
317-572-4002.
TTENbANDbWHENbITb ISbREAD.
Forb technicalb support,b pleaseb visitb www.wiley.com/techsupport.
Wileybalsobpublishesbitsbbooksbinbabvarietybofbelectronicbformats.bSomebcontentbthatbappearsbinbprint
bmayb notbbebavailablebinbelectronicbbooks.
LibrarybofbCongressbControlbNumber:b200992103
0b ISBN:b978-0-470-42233-5
ManufacturedbinbthebUnitedbStatesbofbAmerica
10b 9b 8b 7b 6b 5b 4b 3b 2b 1
