There are a lot of different real estate deals to buy REO,Bank Owned,Freddie Mac,Fannie Mae,Hud etc. Their are also tapes,wholesale and owner owned deals. With any real estate deal their is a way to do them all safely.
When you have any deal make sure that the property is going through escrow and has a clean title. This means that there are no leans, and they have a full history on the property. They also act as a dis interested third party to help close your deal. They are also a licenced company and have are regulated by banking rules.
Their are also people who sell multiple properties called tapes. These are very dangerous to buy if you don't know what your doing. They usually do not want to run these type of properties Thur escrow. They may seem like a great deal but buyer beware. I had one pass Thur my desk that had a 100 homes at $1000 per door(which seemed like a great deal). I had a title company run a pre-lim title search and their were over $1,000,000 in combined tax liens.
Sometimes when you do a lot of business title companies will do these services for you for free. If not you need to do this before you buy investment property this way.
There are a lot of different ways to get real estate but no matter what make sure you have title insurance on your property. Building wealth and having great investments require that you do do certain things to insure that you are making a safe and secure buy.
Always keep in mind that however good the deal is make sure that you follow these guide lines. Having clean title insures that you have a safe deal the rest is up to you.
Brett Young
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