All Forum Posts by: Derek W.

@Aaron Mazzrillohad the best reply I've ever heard to respond to angry callers. After chewing him out he politely said "ma'm, May I ask you a quick question?. Do you call dominoes pizza and yell at them when they send you mail? Because they are actually trying to take your cash. I'm trying to give you my cash."

I'm glad to hear your results are declining. Hopefully y'all will quit putting them up. There is no single other element that gives investors a worse reputation that illegal, obnoxious, trespassing, litter, graffiti bandit signs! In southern California there are 3 different signs to every pole, on every freeway off ramp, and even twist tied to stop signs. I'm embarrassed by my own profession. 

I always change locks. Seems like a big liability not to. I put old locks and key in freezer size zip lock bags and save. After awhile, you never buy new locks, you just rotate from property to property. 

Not totally sure, but listening to the awesome pod casts (thank you boys) I think the real reason they are down on Detroit is because there are lots of cute guys there and it triggers jealousy that makes the show awkward. Correct me if I'm wrong?

It's always fun, and a challenge, for me to decifer @Rick H.speaks Rick language and is usually great at breaking his code. Biggest concern on buying heir's equity this early in the game, as Rick mentioned, is the unknown creditors. There may not be any equity by the time medical, nursing home, bail bonds agent etc is done. So Rick is suggesting a way to tie up the property now, and pay the heir in a safer manner later. Now, I just need to figure out what it is he said...

If you contract for her interest in the estate, assignment of beneficial interest, heir is done and out. It will be you, not her, that is now in charge of settling the estate. But what happens if you pay for the remaining "equity" and during probate, four other heirs step forward that you have not contracted for beneficial interest? And knew nothing about. I wonder if she, working closely with you and attorney, can open probate, file for Petition for letters of special administration, and get the authorization to put a small second on the property, which would be you, of course. This could pay the attorney, bring the first current and save foreclosure, and secure you as a party to the transaction without playing the equity game?

of what? I believe you have not received a reply because none of us know what you are asking. 

it's based on whether or not you're a bad#ss. Since I'm not, I get the chump pricing of $1.00 per search. Curious what the super stars are paying. 

I'm trying to interpret what the question is. Am I correct that you are involved in some capacity with a house that has significant water or mold problems? And you are asking if it's better to do the renovation work to fix the problems or sell as is to a developer? Rehabbers or developers can do the remediation much cheaper than a remediation company. They would prefer to buy it as is and fix the problems themselves. They will expect a discount for this. If you did the renovation work, could you sell retail to an end buyer? Or is the house really dated and in need of many other fixes?

In California it's called "letters of testamentary"

But the point of my "question" was to suggest getting the PR to sign your purchase agreement, get it to escrow and let them do the rest. You don't have to know all the details. You just need to get it to the experts. 

@Rick H.how would he get it under contract? Would he have the PR sign a purchase agreement, open escrow, then let escrow tell him what they will need to perfect title in order to close?