All Forum Posts by: Erin Elam

As a newbie trying to enter the wholesale market and establish a good reputation this thread brings up a question for me: the repair prices. When I watch flip shows on tv the flipper(s) go through the home and decide "I want to open this wall up, I want to gut this bathroom but only replace the floor in that one; I will need to install wrought iron on here and we should put carpet only upstairs", etc,  etc.  My question is how in the world would a wholesaler know what all the rehabber would do in the house, in order to provide good estimates of repair costs? 

And if somehow the wholesaler is able to take the rehabber inside the home to get that buyer's repair costs, what would stop that rehabber from taking the property right from under the wholesaler? Im assuming if the wholesaler can show it, its most likely under contract, so does the wholesaler just make sure there is a kick-out clause so no one else can come in and undersale?

Answers will be greatly appreciated, 

Erin

@Malita R. cool! Did you use one of the pay-for-listing sites? Since you are new, do you already have a few buyers up?

Erin

@Elizabeth Colegrove good point, just need to lower my expectations a bit lol.

@Kirk R. im from KS but never really fooled with CL anywhere. With the number of times I've run across the use of CL in REI, I just made a wrong assumption about what types of listings might be on there.

@Malita R. congrats!! Did you use direct mail to get this lead? Or how did you get wind of those properties? 

Erin

@Rick H. thanks for the info!  Were you saying 'door knock' the PR? The probate publishings I have seen only have an address, do you pay some site for phone numbers?

Thanks,

Erin

@Daniel Harris and @David Brown must have been the 'it wouldn't be on here if it wasn't for real' part of me. Thanks for bringing me back to my senses!!!

Hello BP family,

I have read a few articles and blogs regarding probate but I am still questioning the timing. I read an article by @Sharon Vornholt that the seasonal timing is important and that's definitely understandable. I understand the heirs can't sell the property until the title has been transferred into their name. How long after the newspaper publish of probate administration should I actually think about contacting the executor? I read that the heirs can have the property removed from the estate but let's say the estate info is published Jan 2015, do you contact the executor then? Or do you wait 90 days and then contact them? I've read probate can take years at times. Do you have to consistently keep going back to read the file in order view the current status?

Thanks for any insight,

Erin

Hello BP,

I've been going through CL listings to opportunities but I am noticing that there usually is not an address. Do you just reply to the ad and ask for it? I'm wondering how comps are gathered for CL listings?

Thanks for any insight,

Erin

 Thanks for the info!