Probate Investing Questions

[Tyler Gauthier]

I've got a few questions about probate investing and I figured I'd ask some seasoned investors before scouring the forums for previous guides (I'd like to spark conversation with other investors as well.)

I've recently learned about probate wholesaling and I'm very interested in focusing on this type of lead. It seems they'd be the most motivated of sellers to work with. All moral stand points aside, and the fact that these sellers have recently lost a loved one, what's inheritently different when it comes to closing one of these deals?

If the property is going through probate court, do you have to wait for the case to be settled before the administrator can sell the property? Or when I go to my County office and get a list of probate cases, have they already been settled if an administrator has been appointed?

At what point in the probate process can the property be sold is my question, in short.

That being said, have any of you had much success in probate wholesaling? I'd love to hear some success stories, and even failure stories.

I'm interested in wholesaling as a means to start making some form of higher income without wasting years of my life climbing the corporate ladder and saving every penny with my current job. After reading Brandon's book, I really want to get that ball rolling, but I'll need the capital to do so, and I find that this would be the best way to find leads and wholesale them to more seasoned investors.

Note: I have every intention of doing my due diligence when it comes to marketing the deals I find to cash buyers. I by no means want to put a bad deal under contract or give a buyer a bad lead either. That's a topic for another discussion.

Thanks BP!

Tyler Gauthier

[Jerry W.]

Land can be sold out of probate before probate ends.  It does take court approval to do so.  You can often buy probate properties if you can close fast.  It is especially true for people who live out of state.  Problem properties are easy to buy also.  Folks cannot come to another state and deal with problems forever.  They don't have time to take all the clothes out of the drawers or clean it up or haul away the junk cars, or even deal withsemi hoarder issues.  Offer to buy as is and you will haul stuff to the dump or take clothes to good will.