Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Christopher Reid

Christopher Reid has started 15 posts and replied 79 times.

Post: preparing to inherit 3-5 debt free homes.. now what?

Christopher Reid
Posted
  • Real Estate Agent
  • Stamford, CT
  • Posts 79
  • Votes 43

@Kay Na Welcome to BP!  There are a million different angles that you could take for solutions here.  I would start by asking yourself if you want to invest the time to educate yourself on the many many options that are available.  BP is a phenomenal place to learn and ask questions, listen to podcasts, read read and read. 

Another options would be to form a "team" of sorts.   Professionals in respective fields of construction, real estate Law, appraisers, etc and treat your situation as a business.

Feel free to message me with any questions, I'd be happy to offer any advice that I can.

Post: Best list to get leads.

Christopher Reid
Posted
  • Real Estate Agent
  • Stamford, CT
  • Posts 79
  • Votes 43

@Cornelius Garland how do you go about finding the amount of equity in a absentee property? Seems like that would be a TON of leg work.

Post: What to do with $15K

Christopher Reid
Posted
  • Real Estate Agent
  • Stamford, CT
  • Posts 79
  • Votes 43

@James Wise i got a chuckle out of this: "Real estate agents are what wholesalers strive to be (even if they don't know it)" so thanks for that

Your other comment scared me though.  Would you really recommend new agents working with you to budget $15k for marketing!?!?!?!  I'm going to have a license in hand here in a few weeks, and have no intention of spending anywhere near that kind of cash for marketing.

@Account Closed how aggressively have you been pursing your mail marketing campaign?  2 years and no results must be extremely frustrating.

Post: How would you do this deal?

Christopher Reid
Posted
  • Real Estate Agent
  • Stamford, CT
  • Posts 79
  • Votes 43

Right now It doesn't matter what either brother wants in this situation.  Uncle Sam comes first and he is owed money here.  That should be your number one concern, I would focus on that issue as Plan A and then go from there.

Post: How to Contract to buy IN Probate

Christopher Reid
Posted
  • Real Estate Agent
  • Stamford, CT
  • Posts 79
  • Votes 43

@Sharon Vornholt - you have posted somewhere that your attorney is the most important part of your team.  @Leah Bonner I would take that advice to the bank!

by "independent or dependent" are you referring to the executor being with or without legal representation?

Post: New Agent/ Real Estate Investor

Christopher Reid
Posted
  • Real Estate Agent
  • Stamford, CT
  • Posts 79
  • Votes 43

Welcome @Jeremy Dec , listen to podcasts, read read read and interact with the forums! Feel free to reach out anytime. 

Post: Wait what?! Filing for probate on a property abandoned 20 years

Christopher Reid
Posted
  • Real Estate Agent
  • Stamford, CT
  • Posts 79
  • Votes 43

By far the best advice here would be to seek legal counsel for inheritance claims in California.  Since it has been over 20 years and inestate, my guess would be that you are bordering on transfer to the state by escheat.  If I've read it correctly, that's how it works in Connecticut.

Post: Looking for a CPA in southwest CT

Christopher Reid
Posted
  • Real Estate Agent
  • Stamford, CT
  • Posts 79
  • Votes 43

@Account Closed- I know it's a very broad question but ballpark rates?

Post: Locking in the Deal Before Probate in DC

Christopher Reid
Posted
  • Real Estate Agent
  • Stamford, CT
  • Posts 79
  • Votes 43

Determine who it is that might be made executor and get them to sign an agreement.. have a lawyer whip up some verbiage like: 'contingent upon them being listed as the executor' that will be null and void if the court denies them. This allows you to start marketing the property asap. You can probably accept offers 'contigent upon...

I pulled this from a youtube comments section about probate

Post: Dodd-Frank and 1st MFH purchase for owner occupied

Christopher Reid
Posted
  • Real Estate Agent
  • Stamford, CT
  • Posts 79
  • Votes 43
Originally posted by @Roman M.:

You  should ask the seller why he wants cash only. A lot of times sellers put that because they don't want to deal with mortgage contingency in the contract where the buyer doesn't get approved last minute and the sale doesn't go thru. Or maybe the propery won't appraise at the negotiated price. 

This is a really good point!