All Forum Posts by: Account Closed

@Ashish Acharya   I am not sure what makes you think the person you are dealing with has any right to transfer the title to you.  I do understand that the person you are dealing with has their name recorded at the court house.  But you are admitting in your original post that you know they are not the owner.

Is there an unrecorded deed between the owner and the person you are dealing with?

If I was going to get one of my relatives to do this, I would "have subject" to documents drawn up, signed and notarized.

I completely agree with @Tom Gimer .   You know about the unrecorded defect.  This would be like calling to get property insurance after the roof blew off.  You are even admitting there has been a discount because the person you are dealing with might not own the house.

So... to answer the question from the original post.  Keys have nothing to do with it.  Your post shows you have been put on some kind of notice that someone else is the owner.  You are assuming they cannot prove it.  They may or may not have proof that they own it.  I would guess anyone that is using this method to get around the restriction on the number of mortgages might know how to make this legally binding and not record it.

PS...   Before everyone claims the deed has to be recorded or it is void...  I have read the Georgia statute.  It is only void if the new buyer is not noticed.  A good lawyer would use this thread as evidence of notice.

@Kyle J.  The article is outdated.  It does not take into consideration the latest Disparate Impact decision that came out about 6 months after the article was written.

I completely agree with Jay.  Just don't go crazy with it.

@Thomas S.   Because of where I live, I find this to be very low risk.  If you compare it to something like the property being advertised in the link below I find it VERY low risk.

https://www.biggerpockets.com/forums/548/topics/55...

@William George spear  I would really suggest reading the thread other people have mentioned.  There was a huge amount of detail given there.

@Thomas 

@Thomas S.   Being a landlord is always fairly risky.

As I have mentioned before I like some parts of Mexico as an investment.  Other parts are getting a huge amount of bad publicity and are BAD investments.

I wish people would stop saying "N. Dallas" or "North Dallas" when they do not mean it.  North Dallas does not mean anything in Collin County.  It does not mean Frisco.  It does not mean Wylie.  It certainly does not mean McKinney.

As a general rule, people in North Dallas consider themselves of a higher socio-economic group than people in Far North Dallas.  The people in Far North Dallas consider themselves in a higher socio-economic group than any other people North of 635.

This is a good way to think about it.  If you ask someone from Frisco what they do, they will say where they and their spouse work.  If you ask the same question in North Dallas, they might say philanthropy or that they own professional sports teams, or that they are a former President of the United States. 

@Alpesh Parmar  I do not know what you are talking about.  I use the Baillie-PSW primality test everyday in real estate.  I also do not see how anyone can get by without understanding the differences in neurexin encoding genes among the primates.

LOL

@Stephen Spradley   Pick a broker that provides a good amount of training.  They will take more of your money but it sounds like it would be the best fit for you.

@Liz C.   It does not seem crazy high.  What type and class of property do they manage?