Posted by leslie on May 08, 2000 at 14:50:14:
hi erich
what state are you in. are you moving to calif or doing it here already. there are some good (expensive) courses and books on probate, but i think 30 min with a probate attorney will tell you most of what you need to know. newspaper legal notices are a good start, but all the probate files for each county are avaiable at that county records office. real property is listed in the assets list in each probate file.
there are appraisers who do a lot of probate work as well as a circle of attorneys in any one area. a good relationship with one of those will bring you a lot of deals. they want to sell and you want to buy. don’t insult (get too ceative) with the attorney on the first deal, it will get better when he sees you are a capable player, but he is there to protect his client from loosing money, ie $0 down and a note gone bad for instance… so build a relationship first then get creative. you won’t be the first wanna be investor he has met. yes you can “go around” the attorney to some degree. at some point later you will know the ropes, and convincing the “estate” to ignore their attorney won’t be easy until you have some experience.
leslie
Millions To Be Made In Probate Sales??? - Posted by Erich
Posted by Erich on May 08, 2000 at 11:23:53:
Can anyone recomend a good source of information on probate sales? I’ve been following the obituaries, waiting two weeks, then run the diseased persons name on my tax assessors service. Armed with name and address, I nock on the door of the diseased person. Occaisionally, the house is now vacant. But, often the wife or someone answers. I ask for the diseased person and am always informed that they have just passed away. Pretending ignorance I tell the person I often pass the house and have always wondered if it would be for sale? I tell them that I am interested in buying the house. You would be suprised how often the house is for sale. Sometimes out of state owners etc. Sometimes I am able to buy the house under market value. If I can do this, I buy the house and flip it. If the person wants full market price, I arrange a meeting with my broker who lists the house for top dollar and gives me part of his commission as a finders fee.
My problem is that it is hard to find information on California Probates. How the process works, special tricks etc… On line there is a book offered “Inside a Probate” does anyone know if this is a good book? Can anyone sugest a better book or course?