Invest Anywhere: Six Strategies to Make Money in Real Estate
Afford Anything
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Deed in Lieu of Foreclosure
To mitigate the risk of everything getting clogged up by the court system, the deed in lieuof foreclosure fast forwards the process and you can take ownership of the property right away. The drawback to this specific document is that if you execute on a deed in lieu of foreclosure, all debts that are on that property will follow the person holding the deed. So let's say you worked with the real estate investor who didn't pay property taxes, or who inadvertently placed leans on the property. There's a chance that those debts could then become your responsibility,. At which point you would want to lean on that personal guarantee so that you could then go after your non performing partner for any debts that were transferred
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