All Forum Posts by: Dora Peacock

I have a lead on a property in Rockford, if that's not too far for you. PM me for details.

My next question is if an investor buys the property and the current ownership is contested, who gets paid? Does it just go to the estate to get sorted out in probate? If that's the case, it really wouldn't help the sellers in this case. Their biggest problem right now is wading through the process of who is entitled to what.

@Guy Gimenez That doesn't make for a marketable title for the investor to resell it at a later date, does it? I would venture to guess that the buyer would have to be willing to put the money and effort into clearing title.

I have a lead on a property that is currently in probate. Heirship is being contested by an alleged child of the deceased whose paternity was never established. The rightful heir is doing everything he can to set things right, but is in need of legal assistance at this point. Obviously, I can't list the property while it's in probate, but I'm of the understanding that an investor can still possibly buy the property. I also realize that many investors have real estate attorneys on their team just for this type of situation. Any suggestions on how I can possibly find an investor interested in buying the property and willing to assist with the legalities of such a transaction? 

I've taken both online classes and in person classes. If you can manage the in person classes, I highly recommend you go that route. Yes, the information is the same, but the insights you can glean from the instructor's experience is invaluable! Also, having someone separate the wheat from the shaft, so to speak, is very helpful! There is so much information that it's difficult to determine what is important to remember and what is not. Emailing to ask questions or get clarification is tedious and time consuming whereas, in class, you can just raise your hand. I definitely recommend Champions School of RE for their live classes and I recommend against Real Estate Express for online classes. 

As for whether you really need a license or not, that's a personal call. I was already in the process of getting my license when I decided I also wanted to invest. I plan to be a Realtor who happens to also be an investor. If you intend to be an investor who also happens to be a Realtor, there's a different set of questions to ask yourself. Getting your license is an investment itself, and not a cheap one. If you have a "day job" and will be investing part time, I think your time and resources would be better put to use in marketing and finding deals while having a Realtor on your team. If and when you plan to invest full time, that would be a good situation in which to have your own license bearing in mind that you have to do things a bit differently as a licensed agent. For example, you must disclose your Realtor status when buying and selling your investments. Also, all your advertising must include your broker's information. 

I disagree with Sabrina that Realtors are going the way of the CD, but that's a different topic. :-)

I hope this helps! Good vibes and good luck to you! 

@Mark Nolan and @Omer Husain, thanks for the welcome! I've already found this site to be an invaluable resource! I could get lost for hours reading everything!

@Jeffrey Gill I may take you up on that offer. I'm still waiting to take my boards, but I'm wondering what to do next and how to get started since I don't have a lot of experience. 

Thank you all for helping me fell welcome here. I look forward to interacting with others here and learning as much as I can!

@Neda Navidnia

Thank you kindly for your warm welcome!

Welcome! I'm new and in Houston, too! This site is amazing! Good luck!

Hello, BP! I'm Dora Peacock from Houston, TX. I'm in the process of getting my real estate license and look forward to being an investor-friendly agent. I'm also excited to learn about real estate investing for myself. I'm hoping to connect with Realtors, investors, and other professionals in the area.