If you can't provide any proof that work was done, it's quite possible the appraiser and/or the underwriter will refuse to allow you to sell for anything more than a trivial profit.

It's true, there are quite a few investors who use land trusts to do deals.

$135 dollars a month is quit a bit of cash after 30 years.

If you are wholesaling an reo of mls and it has deed restrictions can you still get away with doing a quit claim deed?

I think it's a great niche and they're usually quite a bit cheaper (although it varies by the market, so it's hard to give any exact numbers).

(Mary gave John a Quit claim deed, but it was never filed by John) John is killed in a car wreck, but never updated his will.Then you come up and buy the property from Bob and Mary, close and you have the same exclusions on your title policy as to issues not shown of public record.Three years later Mary passes away and her son inherits all.

I've recently started looking again and have quite some interest in this one particular property.

Thank you Michael, Brian, Kathy and James for the warm welcome :)After doing quite a bit of research, taking courses on all the different types of strategies, legal advice on the vast pitfalls of real estate investing, negotiating, etc.

Therefore, I'd have to conclude we'll be in Iraq for quite awhile.PG

Properties that are uninsured generally need quite a bit of work, but you will find some that don't and are listed as such because the inspector found a weak spot in the floor (which they classify as a structural problem) which is usually a pretty cheap fix.