Jumping All In

[Andrew Terry]

So here’s my first purchase experience so far. 
On the house.

PP: 40K

Rehab Estimated:40k

ARV: 135k

FMR:1200

Wrote up a contract and got it signed with 30 day closing. Started working with lender and title company getting everything ready for closing. 2 weeks after signing the seller passes away. This has left me to work with the sellers only daughter who is just a real peach! 

I’m confident I’ll prevail without any major added expenses but just a fun way to jump right into real estate 

[Jaron Walling]

Quote from @Stephen Blake:

Quote from @Andrew Terry:

My Saga continues…. I figured I would update. Not much has changed. We have gone to court twice now. 

 The first was probate to have her appointed to the estate and so we could file our intent to honor the contract.

 The second got turned into a hearing to set a hearing date (ridiculous I know).
 So currently we are set for May 29th where we should have a hearing and an answer.

Trying to step back into the real estate game has not been everything I hoped it would be yet. I had a rental about 10 years ago that I eventually sold because I didn’t understand the game. Lessons learned education on going I decided to get back into it with a business mind set. So here we are with this on my first. I keep going over how many other potential properties I could have purchased  and had actively bringing cash flow at this point if I’d have let this one go and moved on. Really makes me a bit sick. 
The numbers continue to make sense on this it’s just now a matter of how long do I allow the litigation to draw out (still acquiring those attorney fees) before just moving on. 
     I’ll be over here in LIMBO until May 29th if anybody wants input on contracts that end up in probate before closing

 Man sounds like a fun deal! We bought a home via probate a few months ago, be prepared to get scrutinized on the price by the judge. In our case we had to pay approximately 90% of what the appraised value was. So you may have to raise your price a bit depending on how things go. May be different in your situation but that's what we dealt with. Good Luck! 

 Ouch. If that was a distressed deal no way I'd agree to that. Hopefully the OP doesn't experience that scenario. 

@Andrew Terry I would cut-bait after the 29th if it doesn't go your way.