Probate duplex

[Eldar M.]

Hi BP members, I am running the number of my first potential RE investment, a duplex which was converted to fourplex at Vernon area, Los Angeles 90011 (not the best area...). The issue for me begins here, it's a private property, which I am not super families with as far as the main thing that need to get my attention when going forward with the deal. The court auction will take place on 9/11 so the clock is ticking. I would greatly appreciate some tips from more experienced investors. Thank you

[Rick H.]

"Private property"?  Aren't most all of them private?

Your headline stated "probate". Is this your concern?  

Since you also refer to an auction, if this is a public administrator's auction (Los Angeles County) then there will likely be plenty of cash bidders. That's important to know.

What's also important to know is that you will not likely be able to count on the type contingencies that are afforded other buyers to perform extensive due diligence. This could bite you if there are zoning or other issues that restrict your modified duplex from being used as a four-plex. 

Hopefully, you've anticipated those related potential issues and have a plan in place. Hope it all goes well for you.