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Besides lender issues, I would also look into insurance issues. I've heard of people transferring title by quit claim (instead of warranty deed) into an LLC and losing the protection of their title insurance. I don't know the details or how legitimate a concern it is, but I would look into it if I were planning an after-purchase title transfer. I've also heard of problems with the fire/etc. insurance types of policies, too. Remember also that corporations and LLCs are governed by state laws, so what's true in one state may not be true in anther.

I wouldn't worry too much about what you are saying. The truth is that the deals the real estate agent brings you will almost all be MLS-listed properties. While there are some very good deals out there on the MLS, most of the deals aren't the great, write-home-about-it kinds of deals that full-time investors make a living off of, anyway. Only a small percent of the MLS-listed properties would even be considered "deals" at all. If you do find a real estate agent you like and who is "in tune with what is and isn't a good deal for an investor" you are already way ahead of the curve.

Note also that it may be good to make contact with some agents who do the typical, "bread-and-butter" types of home sales and don't typically work with investors. These agents may encounter home owners who want to sell their house but are in such a bad financial situation that they won't be able to list and sell realistically on the MLS. You may find some great deals if the agent, unable to help the homeowner, suggests they contact someone like you who may be able to offer a more creative deal.

You might find this thread helpful:

http://forums.biggerpockets.com/viewtopic.php?t=6235

Good luck getting rid of that thing.

I don't understand why you have all the links about investing if this is a site for people who are looking to sell their home quickly. It honestly looks like one of those sites you get after a Google search and you think it's what you are looking for, but when you open the page it's nothing but a bunch of spam links to trick the search engine. I can't imagine someone looking at that page and thinking this is going to lead to a resolution of his/her major need to sell that house.

Real Estate Riches is probably his best-known book.

I haven't read that, but I have heard some audio tapes of his that he did with Kiyosaki. He's along the same lines as Kiyosaki. If you like him, you'll probably like de Roos. I'm not sure I'd spend money on him, but if you can find any of his stuff in your library or at your investors club, it would be worth the time to read it.

Here's a search that gives some of his other books:

de Roos

and if you're looking to spend a little more: DVDs

Originally posted by "watapolice":

I have not seen anything on Pinnacle but will do some research this week - but after reading all of these responses my initial impression is that this is a business designed on a PARAMID SCHEME.

A pyramid scheme is not the same as a Ponzi scheme. Pinnacle was shut down for being a Ponzi scheme, not a pyramid scheme. The difference is quite important to those who invested money, because in pyramid schemes the investors themselves may be committing crimes (even if they do not realize it), while in a Ponzi scheme this would usually not be the case.

It will also show up on the automated emails Realtors send out. I get an automated email every day at 3am from one of my agents with any new properties that meet my criteria. Apparently, price changes appear as "new properties" and show up in my emails, too. I see a couple of them re-appearing every couple of weeks because of a minor price change. These emails do list the original price, so only dropping $500 will look pretty silly and it will be obvious what is going on. On the other hand, it does stick that property into the face of potentially interested buyers.

I guess I don't fully understand whose rights had been quit-claimed to you. I thought it was the owner's. He's not going to pay the mortgage if he doesn't own the house. Does anyone else besides you and the original lien holder have any claim to this property?

This may not be exactly what you are looking for, but you should search for information about "triple net" or "net net net" or "NNN" commercial property. You can buy these as a single investor or in a partnership. Basically, you buy a property and the tenant (something like a Burger King, Dollar General, etc.) pays everything (including taxes, insurance, all building/maintenance costs/etc) and you just collect rent on a long-term lease.

Originally posted by "drdank":

So if there was a mortgage on the property and the county issued me a quit claim deed for the prevoius owners rights would the county be issuing a worthless quit claim?

It seems to me that it would be worth the difference between the value of the house and the balance of the mortgage(s).

Originally posted by "Ohio Realtor":

By the way I would be willing to give a quit claim deed to the capitol building if anyone would like to buy it cheap.

But if the person who bought it could show (or at least convince a jury whether it be true or not) that you represented that you did have some property rights to that building, you might be looking at fraud charges.