How to buy Probate properties?

Question

Hey guys im still new at this and i was wondering whats the best way to buy a probate property if i have little money? And what are things i should worry about? Thanks guys .

Greg Dickerson · Answer

Probates will be tough to get financing on as the heirs and estate want to liquidate for cash. If the property has no equity they usually let the lender foreclose. You need to learn the business including deal structure, creative financing, raising private money and how to find properties. You can contact the city or county to find out where the keep a list or keep track of probate filings. You can also network with probate attorneys for leads but you will need to coney you are and expert in the space and have funding in place before they will send you any leads.

Mark Pedroza · Answer

@Joe Be

Yes, you can purchase a probate property through the regular MLS purchase that includes not only using the regular purchase agreement but also the probate purchase agreement.

If you do send marketing material to attorney's remember that the probate attorney represents the PR (Personal Representative) and the PR represents the estate..

Denise Rowe · Answer

Bill what exactly is house hacking?

Bill Gross · Answer

Just saw this message, not on BP a lot these days. That said, of course you can house hack a probate. I see it done, just like any other purchase

Bill Gross · Answer

If you are interested in probates in Los Angeles County, I can help. When the court is open, I am there daily, and I help investors purchase properties there. In March I helped 2 buy properties, and there will be some great opportunities when the court reopens. Contact me if interested in details. Bill Gross

Joe Be · Answer

@Bill Gross Hey bill i was actually looking around los angeles area, but i was also wondering if i would i also be able ti house hack a probate home?

How to buy Probate properties?

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