What I would do is to order (have the seller order), a pay off from the note/s holder/s, showing what is owed on the property to include taxes and legal fees.

So you two have to find each other, make a legal agreement and also agree on where and what you want to buy.

That's why I buy them at that price and they just talk about it.Either way if your agent, friend or not, went around you like that, then they are being extremely unethical not to mention breaking their legal fiduciary duties to you.

Sorry, but if you really check, the previous poster is correct- this will not pass the fraud sniff test.If you put someone on an account for the express purpose of reporting on a credit report, report them as an AU, and they are not (under the old scenaio, if you added your brother, even if he didn't have a card, he was legally authorized to use the account) you are walking a thin line.The FCRA (Fair Credit Reporting Act) specifies what can and cannot be listed in a consumer credit report.

Opening title merely means that the title company will begin to search the title to make sure it is clear and can be legally transferred.

Hello everyone my name is Will and I would like to say that I really like this forum and thank you for helping people who are just starting out or are thinking about starting like me.Well, not long ago I was in a dilemma between taking Animation or Real Estate, well that is no more for I have decided to go for REI, I am a full-time legal clerk I work for my parents managing their immigration business here in LA despite the love* I get from older employees/co-workers I manage and everything is under control.Now what I was wondering is how can you get started in REI since I work full-time and I can’t leave my job cause if I do there will be no one to watch out for the business, thing is I want to see how much you would need to start investing after learning the process that is, if say I had $5,000 or even $10,000 in hard cash which I know is not much, but is there any way and I mean any way one could start investing with that kind of money off the bat?

Check with any of the big apartment associations and you'll find that these numbers are right on the money.What happens when you hear people claim inflated cash flows is that they are ignoring real world expenses, such as evictions, legal fees, lawsuits, captial expenses (not really an operating expense), advertising, office supplies, exterminations, etc.

Namely due diligence, using the right forms and other legalities.

Now, if there are other legal ways for me to improve my tax situation, of course that would be nice but with only 2 properties at this point, it hasn't been worth my effort to really investigate.Obviously I'm not even close to a CPA or a Lawyer but would gladly take free advice on how to save myself a few bucks...

A second lien that forecloses takes the legal rights of possession from whoever owns the property but the second lienholder's position is still subject to the first lien.