Sencbcc.org - Loans, Finance, Real Estate and Small Business

Decent overview of foreclosure process   December 10, 2003

Seems honest, but a bit confusing   August 8, 2003

In short, I think this book is worth reading if you are thinking of doing foreclosures like I was. There are some valuable tips that can help you avoid costly pitfalls; I know first-hand what a nightmare dealing with destructive tenants and former landlords can be, and so should you.


More detail would have helped.   July 23, 2003
  6 out of 6 found this review helpful

This book provides information on buying foreclosed properties and properties that are going to be foreclosed. Dallow attempts to explain the big picture of how the process works rather than simply giving you instructions. I am certain that you need the big picture to be successful in buying foreclosed properties.

Unfortunately, although he tries to explain, Dallow fails to make it clear me the details of the foreclosure process. It seems like he has so much experience (50 years, he says) that he real estate seems natural to him. He no longer remembers which things are common sense for an educated reader and which things are only common sense for someone who has spent his life doing real estate. As a result he tends to spend much time reviewing pitfalls he learned through experience. These parts were useful. The sections where he sets out to explain the basics confused me. The details of how a foreclosure works just aren't there. I still don't understand how all the lien holders gets paid, who pays them, and when. I wouldn't even *think* about buying a foreclosed property without knowing these things by heart.

I appreciated the cautionary tone of the book. Readers have criticized it for not displaying entrepreneurial spirit about extraordinary gains possible in real estate. People, IMHO, don't need help getting excited about the possible rewards of an investment. They do need warnings about the potential pitfalls.


To see pros AND cons is to see reality   October 22, 2002
  18 out of 18 found this review helpful

Some of the reviewers didn't like the author's occasional negative views of potential situations. First off, there is no negative theme/undertone throughout the book--just an occasional "here's the worst case scenario of doing it this way". Unfortunately nothing he said was untrue--and to leave these things out would be negligent and might leave the unannointed to believe that there is no risk. There is CONSIDERABLE risk. You play the odds; but he does not leave you playing the odds uneducated about what the bad side is. The book is written so that any person off the street can understand it (although there are one or two instances that someone unfamiliar with real estate will have to re-read a paragraph to get the idea). This being the case, it would be outright irresponsible to NOT give examples of the worst case scenario. I found this book an EXCELLENT primer on what's involved in the process. My family has been in real estate (brokers, construction, mortgages, appraiser, assessors--you name it) for as long as I've been alive and have dealt in foreclosures. Now I've caught the bug and read this book to "fill in the gaps" potentially left when you learn by example. And if you happen to never have problems with a tenant, then you don't live in the northeast! (which is where the author did his business)


Ossified Conservatism   May 11, 2002
  26 out of 29 found this review helpful

I don't doubt the author's experience but couldn't help but sense that he spends a lot of time on presenting the negative aspects or real estate investing. I don't recommend this book as the only one nor the first one that prospective investors should read. I sense a high degree of conservatism that might squash the entrepreneurial spirit in some and believe his presentation is unbalanced. Read some other books on real estate investing before settling in your mind what's right for you. I am a CPA, an investor and a student of real estate for nearly thirty years and could have spent my money more wisely than purchasing this book.