Posted on: 16th Jan, 2009 11:13 am
I just started bidding on houses online in kansas, ohio, michigan, and so on ,I intend to use these properties for rental properties/owner fin,most of the houses i have bid on are foreclosed and the banks has issuied a quit-claim deed,is this different than just a regular deed?will it give others right to my properties or just me?what should I watch for if anything?should i pay more in some case and get a warranty deed?
A few thoughts...
1. dont pay market price.
2. Hire an attorney to review each deal.
3. Be prepared with at least 25% down payment on an investment property.
4. If you plan to own rental properties that are not near your home, then find a management company that can handle the day to day issues including the rent collection. They may take 10% of the total rent but it would be well worth it.
1. dont pay market price.
2. Hire an attorney to review each deal.
3. Be prepared with at least 25% down payment on an investment property.
4. If you plan to own rental properties that are not near your home, then find a management company that can handle the day to day issues including the rent collection. They may take 10% of the total rent but it would be well worth it.