Newbie Invester in Georgia with Probate & Wholesaler Question

Newbie Invester in Georgia with Probate & Wholesaler Question

Macon, GA · Member since 2016 · 7 posts · 0 votes

Hello everyone! I'm new to REI and have been trying to learn what is available in REI other than landlording since I grew up working with my dad on properties he was renting and I know all the headaches that go with that. I decided for a number of reasons to start with wholesaling. I am in a unique position where I see a lot of vacant houses in a year so I see opportunity.

Here is my question: I asked about a vacant house and found out it belonged to someone who is deceased and owners are out of state (possibly motivated sellers) so this is Probate. I have been looking at Priority Probate System by Rob Swanson and it looks like I should have been studying this, learning probate lingo, laws, etc. and building my success team of Probate Attorney, Real Estate Agent, and Title Company already before opening my mouth about being an investor. Since this SEEMS like it could be time consuming and with passing time I could lose a possible deal so I thought ... is it possible to wholesale a probate deal to someone who is already in position to do a probate deal? Can anyone advise me on can I get the property under contract and assign the contract to another investor as I would on other deals that aren't probate deals? 

Thank you!

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New to Real Estate · Nampa, ID · Member since 2015 · 66 posts · 49 votes
9y
Randy Sutton Sometimes a phone call is a bit direct you could feel the waters with a letter leaving your number. Just a thought. Whatever you do just take action.
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  • New to Real Estate · Nampa, ID · Member since 2015 · 66 posts · 49 votes
    9y
    I don't know anything about probate but what I do know is this. "If your driving in fog and can only see 10' it is smarter to drive into the fog 10' so you can see the next step" Try not to focus on getting all that stuff in order and just jump in! If you have the phone number of the new owners call them. --- Drive 10'
  • Macon, GA · Member since 2016 · 7 posts · 0 votes
    9y

    @Nate Hawkins

    I like your way of seeing things. I am working on getting the name and number of the new owners. They are textbook out of staters.

  • New to Real Estate · Nampa, ID · Member since 2015 · 66 posts · 49 votes
    9y
    Randy Sutton Sometimes a phone call is a bit direct you could feel the waters with a letter leaving your number. Just a thought. Whatever you do just take action.
  • Yucaipa, CA · Member since 2010 · 137 posts · 96 votes
    9y

    @Randy Sutton Just because the owner died doesn't mean the property is in probate. The heirs have to pay money to open probate and they may not want the vacant house. But if the house is in probate (or you talk the heirs into opening probate) and the executor or administrator has the power to sell the house without court confirmation you can buy that house and wholesale it just like any other wholesale transaction. All you need to know about are the laws pertaining to probated real estate in your state.

    As for "The Priority Probate System" by Rob Swanson don't buy it. It's a waste of time. It is oversimplfied and may not apply to your state. Remember, every state is different and Rob applies a every state is the same approach. I thought I might learn a few nuggets but I just wasted my money. 

  • Macon, GA · Member since 2016 · 7 posts · 0 votes
    9y

    @Guy Olds thank you for responding to my request for help in this matter. I'm currently in process of finding out who the current owners are and then I'm moving forward with the wholesaling  process. This will be my first so I'm anxious to see how I can help these people. Thank you again for your help.

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