Advice for a bourgeoning flipper

[Samuel H. Bolton]

Hello all,

So I am trying to learn the art of flipping homes, or wholesaling to be more contemporary. It looks like probate estates may be an interesting niche to pursue. I have come across a 4 bed/ 2 bath home that is for sale by owner. It has been listed since October of last year and is being sold to settle the estate of a decedent. Here is the description from the listing:

"Upstairs has living room, kitchen with breakfast area, 3 bedrooms and a full bath. Down stairs has a living room/dining room, kitchen/den combination, one bedroom, a full bath with washer/dyer connections. Patio downstairs and balcony upstairs Plenty of room for a large family or a mother-in-law apartment. New carpets and new paint inside and outside. Ready to move in. Owner died and the Executor is selling to settle the estate. No owner financing."

It is in a nice neighborhood in a mid range area of town. They have it listed at $149,500. There are very similar homes in that neighborhood that have recently sold for 130 and 140k respectively. It seems like it could be something worth pursuing and I wanted to know how some of the more experienced investors on here would move forward with this one.