All Forum Posts by: Barry M.

@James Wise

I don't have any MLS worthy comparables for the subject property but for the recently sold properties on Zillow, Trulia, Redfin, and Realtor.com, I calculated an understated ARV of $150,000. When the agent gave me the Truth in Sale Report, I almost didn't want to call back. I'm no expert when it comes to evaluating repairs, but things needed to be fixed from the basement all the way to the upstairs unit. Not to mention other repairs that may arise while fixing the listed repairs. I'm just gonna throw it out there and see what happens. lol.

@Barima Opong-Owusu

@Barima Opong-Owusu

From my minimal experience with working probates, I don't know if there is a for sure way to know if there is real estate available. This is where Sharon could help the both of us. All you can do is skip trace the Decedent and the Personal Representative (Executor or Executrix or whatever this person is called in your system). If there is a physical address for the Decedent that is different than that of the PR, then this might be the Decedents real estate. You might also find Apartments for the Decedent which you probably don't want. lol. Keep in mind that YellowPages and AnyWho may not be the most accurate while skip tracing. Get the PRs info and either mail and/or call to inquire. There could be other unidentified properties that the Decedent left behind. But be graceful. Sometimes these people are steal healing from their loss.

@Paul Timmins

Thanks for your advice too. I wanna just practice calling people just to get the hang of it. This would be the perfect way to start.

@Brandon Turner

Thanks for the advice. I'm originally from Wisconsin, but came here to go to the U of M. The weather here is way worse than Wisconsin. lol.

LOL. Please someone help us!! lol.

James Wise and Chris K. Thanks fellas for this info. I prefer to be professional and even if the agent doesn't accept my counter, which is why I was considering contacting the family lol, it makes me feel good as a newbie to stand behind my offers.

So I sent out my direct mail campaigns and have already receive a couple hits. One call back was from the inheritors Agent. The agent sent me an extensive list of "surface repairs" that need to be done to a multi-family duplex. The list of damages include cracks in pretty much all the floors, rust and damage with the plumbing, and something's even wrong with the electrical wiring; not to mention many others. The problem with this is that the family wants to list the property for pretty much full retail @ $199,900. Anyone in their right mind would not want to accept this. I haven't called back but I'm thinking of countering at $50,000. The duplex is located in a college town. Should I contact the family directly or "play" with the agent?

Don't purchase just yet. Go through you county probate system. All free leads for people who've inherited properties. Barry

@Mehran K.

@Ned Carey

@Ned Carey

@Ned Carey