First Post - Investment Advice and QCD Info

[Aaron Foye]

Hello everyone,

For starters, I have been trolling the forums for a while, but this is my first thread!  I have a couple questions I would like to address but I wasn't entirely sure where to post them, so I will leave them here and have it double as my introductory post. 

A little background: I am 28 years old and currently owner occupy a duplex. I have no debt other than my duplex mortgage, a stable job, and pretty healthy savings for investment. I would like to start an LLC in the near future and purchase a 4 unit or larger. So first off, I would love to hear any recommendations you might have for my next move based on this description.

I have been eyeing an investment property that has a quit claim deed, likely due to an inheritance or divorce.  If I were to finance this deal and a title search is done and finds no liens and resolves whatever circumstance(s) that transferred this deed to a QC, can it be converted to a warrantee deed in my name?  Has anyone purchased a QC deeded property and if so, what happened in your situation?  Should I have extra leverage in negotiating a purchase price based on it being a QC deed?  The property seems to be a really good deal but has been on the market for about 6 months and I can only imagine the QC deed has something to do with this.

 Thanks in advance for the information!

Aaron