it is possible to use personal contacts to find deals.

You’re probably thinking, I don’t know this person so why should I get involved… just remember that we’d both be in the same boat, we both have to trust and respect one another, but read to the end, and learn more about me.I was born and raised in San Jose, California by my beautiful, wickedly smart and fiercely independent single mother.

Hopefully this question is not too personal, but you put it in your post.

The IRS also allows deductions from interest paid on student loans, business interest, and personal interest, and qualified residence indebtedness.

This is a vital advantage of this ownership type.Withholding taxes: A foreign person’s U.S. real property interest disposition is subject to income tax withholding under FIRPTA.

The person with a chatbox is a new srtudent.

I personally wouldn't do this with the current state of the market unless you are doing value-add.

@Mike Hern Hi Mike thank you for getting back to me. i did ask the person (a realtor who was at the auction who told me about that stuff after i had placed my bid) who ran the title search but they just wanted to make money it seemed cus when i went to ask them they said they dont know how to read it lol or tell me if i bid on a 1st loan or 2nd loan which was i even asked for it from her. how else can i know or should i run a title again thru a lawyer or title insurance company ?

They have to have a great personality and be willing to completely let go of any control of the project.

I do like to do it that way for a couple of reasons, your name appears as an Insured and the true owner is not the primary insured.As far as the cost difference, in our area I have found that, for the good properties, the personal policies (dwelling fire) can be cheaper.