All Forum Posts by: Derek W.

When I say I can close quickly, it means I have ready funds available so no appraisal, lender, underwriter etc is needed. For me it also implies no home inspections, termite, or request for repairs will be made. If they accept my offer for the price I've offered, it will be an easy, quick and painless experience. It helps to have a relationship with an escrow/title company, but that isn't necessary. 

@Ryan Hobbs In our geographic area Rick is the ONLY authority as far as I'm concerned. I've researched other "gurus" and courses and have wasted valuable time and money. Rick is the guy that probate attorneys go to when they need information. Lol

@k. Marie Poe is also an amazing wealth of knowledge on probate and many other things, but doesn't do education like Rick does. 

@Ryan Hobbs in your initial post you asked about which contract to use. When you said a standard purchase agreement, were you referring to a CAR RPA (residential purchase agreement)?  If so, the answer is no.  You need to use the CAR form PPA (Probate Purchase Agreement) whether or not the seller has full or limited authority. 

Short answer to the wise info given previously; Sometimes a sale requires court confirmation, sometimes not.  It depends on the level of authority the seller is granted. 

I was about to direct you to @Rick H. so we will both wait for the moderator to reply. 

I'm on the same mind set as @Aaron Mazzrillo.  I have a saying "Bunch, Some, Few."

I send out a bunch of letters, I get some calls, I buy a few of them. If I need more houses, I increase the "Bunch". I don't think tracking the success is wrong, I just think it's a personality thing. Some people are more analytical and numbers driven, and some are more abstract and bigger picture focused. For the newer people, remember that it's more important that you do it, than that you do it perfectly with all systems in place. 

What is the house worth if it's totally fixed with no problems? I gut houses to the studs all the time (or buy ones that are already pretty gutted) so I'd be more interested if this is a better flip potential than rental. A five bedroom 2400 sq ft could be pretty desirable if all the problems are solved. 

This has been my favorite thread in a long time. I have thoroughly enjoyed the brainstorming and problem solving going back and forth. I, too, have been annoyed by the attempted hijacking of the thread to turn into a legal debate. PLEASE ignore that element and continue posting the updates. There are some brilliant people who have amazing problem solving that can be extremely helpful, and a lot of people like myself are learning through your experience. Thanks again for posting and please keep them coming. 

I've done dozens of rehabs with slabs that looked like this or worse. For me personally, this wouldn't concern me at all assuming the house feels level, the doors don't "ghost" open or shut and close square to the jambs. Assuming the house isn't built on a hill and is sliding, this type of slab cracking is very common in my area where oil companies have sucked the blood out of the earth for over 100 years. Now, if I need climbing ropes and extension ladders to see the bottom of the slab crack, I may pass..

@k. Marie Poe and @Rick H. have been so instrumental in expanding my reality. My favorite Friday night activity after getting the kids to bed is to read through their posts and marvel at the creative solutions and knowledge. Thank you!

I just received "The smart executors guide for cash poor estates by @Rick H. as well. Just started reading it!!! Excellent!