Title companies
Will some please explain to me the use of a title company? What are they good for?
I am trying to build my network, but everytime I go speak to a title company they will take the time to talk to me. What information should I be asking them for?
I know someone has posted this information here before, but I cannot find it. I know they have some type of list or someting. Help!!!! 
Title companies are helpful to real estate investors in several ways. The most useful of these is the service they provide of performing preliminary title searches on any of your potential investment properties so you can know what condition the title is in.
This is EXTREMELY important because if a property has a number of liens on it and you don't factor whatever the cost is to clear those liens into your offer, you could wind up buying a property with little or no profit margin!!
The preliminary title search is probably by far the best use of a title company but title companies can also: help you structure and create a private mortgage note if you ever want to owner finance a property, assist in drafting a strong option contract, advise you on how to fix a bad title, and some title companies can save you a ton of $$$$ on title insurance if you do a lot of business with them.
When picking a title company, be sure to find one that is experienced with double (simultaneous) closings, owner financing, and creative real estate investment strategies in general.
Title companies can also educate investors on how net sheets are computed (good for short sale use), how the closing and escrow processes work, and in some cases can even be a source of lien-ridden distressed properties (that would be after you've established a good working relationship with them of course).
That's my two cents...
Best of success,
Tim Harris
furiousinc,
Title companies also write title insurance to insure you against problems arising, after the sale, with the title.
You may want to ask them about "bindings". Here in Colorado, the title company I went to visit on Tuesday called it a "110% hold open rate". In his manual from his underwriter, it was referred to as "sale with the right of resale".
With it, you can purchase your title insurance for 110% of normal and if you resell the property within a specified period (he had two underwriters; one that had a 12 month hold open period, and one that had a 36 month hold open period), then they will write the title insurance for the resell at no cost. In that environment, you could have your buyer pay you for the title insurance, at the normal rate. This allows you to get title insurance, but to not have to pay but 10% for it.
Jom