Owner passed away 2 weeks ago

[Garrett Jacks]

Howdy,

I just ran across a property (4BR/2Ba) in which the owner passed away a little over a month ago. The owners "friends" still live there, but are no longer paying rent. It is not yet a Pre Forclosure. The title is still in the original owners name.

Is there a way forward with this property?

Thanks for your help.

[Rick H.]

No, the first step is understanding what you're trying to buy?

Are you trying to buy equity or cash flow (at a discount)? You really need to know the numbers before spending much time chasing owners down. Once you have a sense of the encumbrance(s) and property ARV, you'll better know if there's anything worth talking to the family about.

Once I was running (jogging) behind another runner, who was pacing about the same as me, but for over a half mile. Long blond hair, nice legs, etc. all I could see was from the back. Well, you know where this story is going. I picked up the pace and as I passed, looked over to say hi to her, but she was a guy. Damn. Now I had to keep up the faster pace or look like someone who had an interest, which I did not.

The point is, know what you're running behind before you take chase.