The court house?

You do NOT want to have a Partition sale forced by the court--that would be very expensive, so if nothing else, address that issue.

We went to the court house, got sheriff sale list, and looked at 60 properties..

Statement: After looking for a foreclosure, looking at the numbers, not able to view the property because owners will not allow you, and the deal is so good (location location location) you go to bid on it at the court house anyway.Question: What if the property has leins i.e property taxes, IRS (which have 120 to redeem), construction, and HOA, and you pay to quite the title do you still have to pay the leins#1?

Use the same principle here; this is a lot more money on the line and now day’s people love to take people to court.

I plan to type up a document with the court house record info and state my purchase of 50% interest in the property and have it notarized.

So the problem with the NCND is that it is probably not legally enforceable in a court of law.

The trust deed system works by the lender agreeing to not take the borrower to court when the loan was put in place.

I really have a hard time understanding why people think they can be in the real estate business and not have a grasp of basic contract law, simple bookkeeping and other business functions.

mwarden,In other words, I won't pay more than 70% of the market value (less repairs) for a property, thereby giving me 30% equity at closing.ctrentalguy,You missed a BUNCH of expenses, such as advertising, management, entity maintenance, legal fees, office supplies, utilities paid by owner (even if tenants pay utilities), evictions, court costs, damage done by tenants (beyond the security deposit), lawsuits, capital expenses, etc, etc, etc.Mike