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Updated almost 9 years ago,
How to get the most out of Quit Claim Deeds
New investor here. Would very much appreciate any advice on how to go about getting the most out of quit claim deeds. My mother currently has two properties. Her own and a rental. She doesn't want anything in her name any more and is looking to move away and rent. We are thinking about doing a quit claim deed on both to my holding company. I will be forming LLCs for both. There's about 25K left on each individual loan with around 50k in equity in each property as well. Each property could use about 10k to get them where they need to be to get max rent for their respective areas.
I've never dealt with quit claim deeds before, so I'm just trying to get any tid bits of knowledge, advice, strategies or warnings that this community may offer. Ideally I would like to use these two properties the most efficient way possible to begin maximizing my portfolio growth.
Thank you all for taking the time to read.