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All Forum Posts by: Tristan McGowan

Tristan McGowan has started 6 posts and replied 15 times.

Post: Investing in an inherited property

Tristan McGowanPosted
  • Montreal, Quebec
  • Posts 16
  • Votes 4
Bonjour compatriotes d'investisment Immobilier! A potential(ly great) opportunity just presented itself to me through a friend. Her neighbour unfortunately passed away from a long battle with cancer today. Death is obviously difficult for any family, as is the following estate proceedings and such. He has 2 surviving kin, one of which is institutionalized, and I'm fairly certain his (middle aged) daughter will want to sell. What makes this a possibly great opportunity is the fact that he was the first owner of the home, built in the late 50s early 60s, and owns the property free and clear! It is located in an area I am very familiar with, in a high income neighbourhood on a quiet street near parks, schools and all other amenities. The house is most likely dated, as I presume he has not modernized it in recent years! I'm guessing we're dealing with a C home in an A neighbourhood in the west Island of Montreal! There is an obvious potential to add value, as well as a motivated seller. I would look to do a few cosmetic repairs and flip or a lease option (rent-to-own), with the possibility of a refi and rent as a third exit strategy. This would be my first real estate deal. I have been consuming knowledge for over a year, and it's time to finally pull the trigger! The question is: how should I proceed? Death is obviously a touchy subject and cannot just be brought up in conversation casually! When should I approach the next of kin? How should I approach the family? Should I attend the funeral (to pay my respects, obviously, not to talk business)? How do I initiate business proceedings? Also, what would my next logical step be? I assume pull comps and begin to look for a lender? I'm sorry if these are basic questions; you think you're well prepared and ready to dive in until it's time to dive in! Lol. Thanks in advance for your help Quebec family!!

Post: URGENT! PROBATE HELP

Tristan McGowanPosted
  • Montreal, Quebec
  • Posts 16
  • Votes 4
Sharon Vornholt I'll ask you the same question I asked Rick! Presuming this deal was in your local market, how would you proceed?

Post: URGENT! PROBATE HELP

Tristan McGowanPosted
  • Montreal, Quebec
  • Posts 16
  • Votes 4
Sharon Vornholt I'll ask you the same question I asked Rick! Presuming this deal was in your local market, how would you proceed?

Post: URGENT! PROBATE HELP

Tristan McGowanPosted
  • Montreal, Quebec
  • Posts 16
  • Votes 4
Thank you all for the replies. Harry Gamble I appreciate the advice and will look into what a title company can or cannot do for me in this situation! Rick H. assuming this situation was in California, how would you proceed? I can iron out the details and regional differences with a local attorney.

Post: URGENT! PROBATE HELP

Tristan McGowanPosted
  • Montreal, Quebec
  • Posts 16
  • Votes 4
Hello BP community! A potential(ly great) opportunity just presented itself to me through a friend. Her neighbour unfortunately passed away from a long battle with cancer today. Death is obviously difficult for any family, as is the following estate proceedings and such. He has 2 surviving kin, one of which is institutionalized, and I'm fairly certain his (middle aged) daughter will want to sell. What makes this a possibly great opportunity is the fact that he was the first owner of the home, built in the late 50s early 60s, and owns the property free and clear! It is located in an area I am very familiar with, in a high income neighbourhood on a quiet street near parks, schools and all other amenities. The house is most likely dated, as I presume he has not modernized it in recent years! I'm guessing we're dealing with a C home in an A neighbourhood! There is an obvious potential to add value, as well as a motivated seller. I would look to do a few cosmetic repairs and flip or a lease option (rent-to-own), with the possibility of a refi and rent as a third exit strategy. This would be my first real estate deal. I have been consuming knowledge for over a year, and it's time to finally pull the trigger! The question is: how should I proceed? Death is obviously a touchy subject and cannot just be brought up in conversation casually! When should I approach the next of kin? How should I approach the family? Should I attend the funeral (to pay my respects, obviously, not to talk business)? How do I initiate business proceedings? Also, what would my next logical step be? I assume pull comps and begin to look for a lender? I'm sorry if these are basic questions; you think you're well prepared and ready to dive in until it's time to dive in! Lol. Thanks in advance for your help BP family!!

Post: URGENT! PROBATE HELP

Tristan McGowanPosted
  • Montreal, Quebec
  • Posts 16
  • Votes 4
I appreciate for the quick reply Seth! I presume the executor of the estate would be his daughter, however, I have no idea who she is or what her name is. I have seen her around the house once or twice, but never actually met her. What do you suggest would be the best way to try to track her down?

Post: URGENT! PROBATE HELP

Tristan McGowanPosted
  • Montreal, Quebec
  • Posts 16
  • Votes 4
Hello BP community! A potential(ly great) opportunity just presented itself to me through a friend. Her neighbour unfortunately passed away from a long battle with cancer today. Death is obviously difficult for any family, as is the following estate proceedings and such. He has 2 surviving kin, one of which is institutionalized, and I'm fairly certain his (middle aged) daughter will want to sell. What makes this a possibly great opportunity is the fact that he was the first owner of the home, built in the late 50s early 60s, and owns the property free and clear! It is located in an area I am very familiar with, in a high income neighbourhood on a quiet street near parks, schools and all other amenities. The house is most likely dated, as I presume he has not modernized it in recent years! I'm guessing we're dealing with a C home in an A neighbourhood! There is an obvious potential to add value, as well as a motivated seller. I would look to do a few cosmetic repairs and flip or a lease option (rent-to-own), with the possibility of a refi and rent as a third exit strategy. This would be my first real estate deal. I have been consuming knowledge for over a year, and it's time to finally pull the trigger! The question is: how should I proceed? Death is obviously a touchy subject and cannot just be brought up in conversation casually! When should I approach the next of kin? How should I approach the family? Should I attend the funeral (to pay my respects, obviously, not to talk business)? How do I initiate business proceedings? Also, what would my next logical step be? I assume pull comps and begin to look for a lender? I'm sorry if these are basic questions; you think you're well prepared and ready to dive in until it's time to dive in! Lol. Thanks in advance for your help BP family!!

Post: URGENT! Investing in Probate property!!

Tristan McGowanPosted
  • Montreal, Quebec
  • Posts 16
  • Votes 4
Hello BP community! A potential(ly great) opportunity just presented itself to me through a friend. Her neighbour unfortunately passed away from a long battle with cancer today. Death is obviously difficult for any family, as is the following estate proceedings and such. He has 2 surviving kin, one of which is institutionalized, and I'm fairly certain his (middle aged) daughter will want to sell. What makes this a possibly great opportunity is the fact that he was the first owner of the home, built in the late 50s early 60s, and owns the property free and clear! It is located in an area I am very familiar with, in a high income neighbourhood on a quiet street near parks, schools and all other amenities. The house is most likely dated, as I presume he has not modernized it in recent years! I'm guessing we're dealing with a C home in an A neighbourhood! There is an obvious potential to add value, as well as a motivated seller. I would look to do a few cosmetic repairs and flip or a lease option (rent-to-own), with the possibility of a refi and rent as a third exit strategy. This would be my first real estate deal. I have been consuming knowledge for over a year, and it's time to finally pull the trigger! The question is: how should I proceed? Death is obviously a touchy subject and cannot just be brought up in conversation casually! When should I approach the next of kin? How should I approach the family? Should I attend the funeral (to pay my respects, obviously, not to talk business)? How do I initiate business proceedings? Also, what would my next logical step be? I assume pull comps and begin to look for a lender? I'm sorry if these are basic questions; you think you're well prepared and ready to dive in until it's time to dive in! Lol. Thanks in advance for your help BP family!!

Post: Montreal Meet Ups

Tristan McGowanPosted
  • Montreal, Quebec
  • Posts 16
  • Votes 4
I know of the Club d'Investisseurs Immobillier du Quebec. Check them out on Facebook. I discovered them recently but haven't yet been. Seems to be all in french but I'm certain english investors network there as well!! If you find any others let me know! Good luck :)

Post: How did you find your team?

Tristan McGowanPosted
  • Montreal, Quebec
  • Posts 16
  • Votes 4
Thanks for the reply Ben Wendt ! I think you raised some good points. I'm still a college student and I agree with you that gauging how seriously they take me and how quickly they return my calls should play an important factor. Do you have any tips on how to find these people or should I just open up the phonebook and start calling everyone I see and ask those questions?
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