Does anybody have experience buying reale estate from heirs?
Hi,
I am new to real estate investing and need some advice. I have been driving around and taking notes of houses that are vacant/distressed. One house I found, I looked up the owner information and it was an elderly couple that passed a few years ago (they had taken a reverse mortgage and the house is starting to go into the foreclosure process) then after doing lots and lots of research I was able to find one of the children in another state, he had known about the property but doesnt really care about it, said "he is willing to work with me if he will get some money or can sell it to me" then he told me "i have been gettting lots of calls from real estate people, I want you to know I have 2 siblings and I have not spoken to one in 10 years or so, and the other in 4 years, and none of us have any contact information of eachother"
My question is, can I do a deal with just this one hier, or do I need to find all three? How does this work? Any advice is greatly appreciated, this house needs a lot of work, but this might be my first "real estate deal"
Thank you!