All Forum Posts by: Cara Smith

Thank you Bill, What if it's a company quit claim deed?

Hi, I'm using Trulia to find prices on what properties sold for and then using Property Shark to see the tax assessment roll to try to find cash buyers as a way of building a buyers list.

First of all I want to say that a realtor did give me access to the MLS but I do not see any way on here to search for sold properties. So I don't know if I just have limited access. And that's why I am using trulia and property shark as well as the town tax assessment website.

So, on property shark I keep finding a lot of properties that have a quit claim deed and then a mortgage on top of that. These are all owner occupied houses. I'm very confused as to why I am finding so many quit claim deeds and why they are being used in this way?

I found one quit claim deed for 80,000 and then under mortgages it said $550,000. Does that mean the deed cost $80,000 plus the 550,000 mortgage?

I would love if someone was willing to look at an example. I just don't understand the story I'm being told by the quit claim deeds.

@Jonathan E. I was told on another forum post that I shouldn't bother doing anything yet. I guess my ultimate question is , do I need to start a business before doing my first deals?

Here's the link http://www.biggerpockets.com/forums/93/topics/79907-new-to-investing

Thank you! That was very helpful!

I have little money, my money pretty much all goes out. I am not unemployed, but I do work part time.

Is the buyer's list just names you've collected. I know there's a list on here on how to build a seller's list in the forums. I forget who posted it. Is the buyer's list just investors you've met at investor's clubs? Or is it anyone?

Hello!

New Here. I am just starting to learn about real estate investing. I read that I should only pick one specific kind and master that first. So, I am learning what is financially possible for me to do so that I can get into it. I am in Massachusetts Greater Boston, and am reading the forums on wholesaling and articles on beginning investing here.

Questions:
1. Do you have to start a business before you start actually wholesaling? My understanding is yes.
2. What kind of business have you set up for yourself and why?
3. What questions do you ask lawyers, cpa's and real estate agents to make sure they are a good fit for you?
4. Did a lawyer set up your business? Did you use a site, if you set up an LLC?

I ask these questions because I am not in any financial situation to put up any money. I do not know what I would need for a lawyer or cpa, rates wise. This is why I think wholesaling is a good place to start though I would love to expand on that and do fix n flips or rental properties when I am ready.

5. How many wholesaling deals do you do in a 30 day period and how many are plausible for a beginner?

I probably have more questions, but that's what I have currently.

Thanks!

Cara

A Few questions:

1. Do you set up an LLC or corporation before any investing is done?
2. Do you spend any money in wholesaling besides marketing?
3. Corollary to number 2: Can you get stuck in a wholesale?
4. What do you want in a wholesale property for it to be a viable investment? i.e. Do you really want that vacant beatup house out in the middle of nowhere?