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Updated about 9 years ago on . Most recent reply

User Stats

32
Posts
3
Votes
Ryan Redmond
  • RCS Transport
  • Louisville, KY
3
Votes |
32
Posts

Neighbor passed away. House is vacant. Potential flip/wholesale?

Ryan Redmond
  • RCS Transport
  • Louisville, KY
Posted

Hey, everyone. About a month ago the sweet old lady next door passed away. Her nephew mentioned that they'll probably end up renting the place out but the house would need a LOT of work- paint, carpets, landscaping, new driveway, and whole kitchen and bathroom would probably need to be ripped out. And that's just the things I'm aware of. 

All the garbage from inside the house is piled up in bags in the front yard too and I haven't seen anybody over there doing anything with the place for weeks now. I'm beginning to wonder if I might have a potential fix and flip on my hands if I can get him to sell for cheap enough and if I can find financing for it. Even if I'm unable to fix it up, if i could get it under contract for the right price I wonder if I'd be able to wholesale it to someone in the BP community.

This is in the Louisville, KY Camp Taylor area, btw. I know you're operating with limited information here, but what do you guys think?

Most Popular Reply

User Stats

494
Posts
261
Votes
Derek W.
  • Investor
  • Kern county Riverside County, CA
261
Votes |
494
Posts
Derek W.
  • Investor
  • Kern county Riverside County, CA
Replied

@David Dey I like the first half of your post, but Do you think that the second part is good advice to a newbie? He is not sure yet how to pull comps, and you think that buying out fractional interest in the estate is a good idea? My advice would be he finds a local expert in probate investing and partner the deal with them. That way he can learn and earn.

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