Probate Listings in Coastal Areas

[Phil Powell]

Hi everyone.  Returning to Bigger Pockets several years later after I first became a member, so it's like starting all over again.  Very often investors will say they want "off market" properties only.  For anyone working the higher-end coastal market, off-market listings are often hard to come by.  Recently, I'm noticing a trend of more and more probate and trust listings hitting the market.  There are some terrific deals out there, but you need deeper pockets at these price points.  These aren't the properties for replacing worn carpet and flooring, adding new kitchen appliances, and painting only to get them back on the market in record time.  Often, floor plans need tweaking, square footage needs to be added, and even that rooftop deck with a view can do wonders.  It takes more money to make bigger returns sometimes.  That being said, 20%+ returns are still possible with the right properties. Move-up buyers and upwardly mobile buyers are still out there looking, while first-time buyers are being locked out and give up looking at the lowest price points.  There are several hidden gems being overlooked.