All Forum Posts by: Saim Chaudhry

Mark,

Thanks for the reply. The properties I am looking at are not listed on the MLS and have not been touched yet. Perhaps they just have not gotten around to them yet. Should I call the PA's office to inquire about the properties? Is MLS the only way they will go to sell or can they sell directly, or allow me to put the property under contract?

Your method of buying out interests is quite creative and will require some research, but I will look into it. If the PA is adamant on listing the property on the market and not selling directly, then I may decide to go this route.

Thanks Mark, always good info from you

I have come across this a few times, it lists "public administrator" as the executor in probate records. I am interested in a few properties, but am not sure what it means that the public administrator is the executor. On the MLS, the title of the property is still under the decedent. Does the public administrator have the authority to sell? What does it mean if public admin is listed as the executor, no heirs or family? Where does the money go for the property after it is sold?

Thanks!

Welcome to BP! Feel free to contact me with anything you may have in Sacramento, always looking to connect with others in my area.

I got started a few months back and by no means am I experienced, but I can tell you networking has made the biggest impact as far as my success. Taking the time out to network and connect with other investors that are already doing what you are trying to do goes a very long way. The relationships you form will help educate and carry you to where you want to be. Put yourself out there, show your face, arrive at meetups, talk to everyone.

I started a few months ago and have built some solid connections with people in my area who are investors and doing it on big scales. What surprised me the most was how willing these people were to take me, some random dude under their wings. I was blessed to meet some who have mentored me along the way, and in return they know that by teaching someone who is willing to learn and has a drive to be successful will be an investment for them in the future. Whether it's by bringing them deals, or just good karma. I did not have a major amount of capital to start off with, but I rolled up my sleeves and got to work! You just have to jump right in and never stop learning, keep educating yourself, both book smarts and street smarts. You will learn the most by doing. Good luck!

Whoever has the letters issued to them will be the one with authority to sell you the house. You should speak directly with him and express your interest in buying the house, if the ex widow is mentally ill to a point where she is not competent enough to make decisions then obviously you will be dealing with the attorney anyways.

The attorney will probably end up selling the property anyhow on the market, so it's best to reach out to him as soon as possible before it hits the MLS.

Hey BP,

I was looking into marketing to commercial property owners, specifically self storage. I wanted to know if anyone had any experience with this? My objective is to possibly wholesale them, perhaps even acquire one if the deal is good enough. Would Listsource be a good way to pull a list for self storage facilities. I would need to market to ones that aren't franchises and are privately owned. What are some of the criteria that may make these owners motivated to sell and give deep discounts. High equity? Negative equity (cutting your losses)?

Thanks

@Zaid R. Thank you for explaining this. Makes sense now.

@Brad T. I will refilter and reevaluate. Thanks for sharing!

Hey Mark,

Sent you a PM!

I am Saim (pronounced Sime) and I am completely new to real estate investing. I have been researching, reading, listening for the past 6 months now and have rolled up my sleeves and decided to get to work. The more I learn the deeper I fall in love with real estate. I am currently working on obtaining my RE License as well. I am 23, a full time student at Sac State studying Biology to go to medical school one day (something to check off my bucketlist), and I am also a paramedic. I have lived in the Sacramento area my entire life and currently reside in Elk Grove.

My goal is to become a full time investor and work on the side not because I have to, but to satisfy my love for my job/field. I am looking to fix/flip houses and have a portfolio of hands off SFH rentals and maybe 1 or 2 bigger multifamily built over the next few years. This will be my very first biggerpockets meetup and I am very excited. See you all there!

Hey Dennis,

I was just reading about the meetup when you wrote this! I will definitely be attending and hope to see you there.

As far as negative equity, would someone be able to explain why I should avoid these altogether? Same thing with pre-foreclosures? And I am hoping filtering out everyone but owners with 70-100% equity have owned the property for a while.