Yes and No. If your goal is to buy the property and immediately sell it, DO NOT buy the property on a quit claim deed.
If your goal is to buy and hold for long-term rents, then DEPENDING on the price, condition and occupancy of any tenants in the property, sometimes it's worth it to purchase a property on quit claim deed.
Remember, each investment property must always be evaluated on key factors such as:
3. Sales/Rents in the immediate area
4. Title (clear or not)
If one or two of these factors are excellent, sometimes, it's worth purchasing on a quit claim. However, remember ALL real estate is unique and must be evaluated individually. There are a myriad of factors that make up a great investment or a stinker of a deal.
Contact us to find out what works and what doesn't in our market:
Letitia N. Patterson
MI Elite Realty
Certified Investor Agent Specialist
Certified Short Sale and Foreclosure Resource
Cell: 248 506-9426
Fax: 248 504-5656