New to this forum and like the disscussions.I have been to Northern Virginia for 7 years, bought 10, sold 2, and made quite a bit.

On many occasions the tax payer sign a Quit Claim deed just to make the problem go away or accept a token cash settlement.Finally, PLEASE, PLEASE BEWARE OF THOSE LAND AUCTIONS.

As far as what "is the LAW," different people may interpret it differently, which is something that keeps the courts quite busy.

It's an interesting bit of wisdom that fits his conservative investing methods quite well.

Many of us know that land is quite sound safe and very less hassle compared to other real estate investments.

I just joined this forum as google pulled it up quite frequently.I am about to purchase my first investment property and would like to know the formula to find out the ROI.

If you sell them for their market value, how much will you lose vs letting them eat into your pocket month after month for the next few years?

I'm doing it with the intention of rehabbing a property however, not as a rental.The scary thing is, I've found quite a few in my area that listed for the exact amount they bought it for 1 to 1.5 years ago.Like you, there is no REI club here.

As for me, I was fortunate enough to buy a condo (to live in) well under market value when I moved to Atlanta a little over two years ago and after about $6,000 in improvements, I've already seen quite a return on my investment.If I end up staying in Atlanta, I'm planning to sell or refi the condo I'm currently living in to purchase additional real estate and become an active investor.

Once the Trustee sale goes, if it doesn't sell, then the bank owns it.I'm sure if this isn't quite accurate, others will correct.