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
#384: Welcome back to the third episode in our special series, Afford Anything Presents: Invest Anywhere.
Invest Anywhere is a new monthly series that runs on the First Friday of each month. It lays out the information you need to invest in real estate at a distance.
Many of you want to invest in real estate, but you live in a high-cost-of-living area. (Ahem, California and New York). The homes in your city are prohibitively expensive, and they offer lackluster returns.
You could invest in a lower-cost area like Cincinnati, Indianapolis, Omaha or Wichita … but HOW? That sounds terrifying.
We’re here to dismantle that fear, piece by piece, by sharing our knowledge and experience.
The Invest Anywhere series is dedicated to giving you the guidance you need to make smart, confident choices about investing out-of-state.
It’s co-hosted between myself (Paula) and esteemed real estate investor Suni Rao, who’s experienced everything ranging from buy-and-hold rental investing to (accidentally) wholesaling. She’s managed short-term and long-term rentals. She’s owned houses, multi-units, and even a mobile home park.
She joins me in this episode to talk about a variety of strategies that will help you make money in real estate.
For more information, visit the show notes at https://affordanything.com/episode384
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