All Forum Posts by: Billie Forrester

Hello and welcome @DeVante Hill. BP has great info and networking with other professionals.

I am wanting to expand my investments in to the Probate arena. I have a few attorney's that I have worked with in the past on regular real estate deals and I was wondering what is the best way to approach a probate attorney and how to get them to work with you on probate deals they have. 

Hi Debra. Welcome to BP! This is a great place to be to start your journey into investing. There are great people that will help you and give you a lot of information

Thanks @Matt Overbee and @Ben Huisman

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I need to add new buyers to my buyer's list. Do you purchase in Lake County Illinois? If so, let me know. I would love to add you to my list.

First off, it sounds like you are looking in a "hot" area because you have been up against multiple offer every time and never win the bid. Stay in those "hot" areas. That is where the money will be made but you will have to make your offer more appealing to the seller as many have stated before.I am not sure of how you are coming up with your offer price but it is extremely important to know the area, know what your rehab budget is going to be for each property and know the ARV value as well. Knowing the ARV - rehab budget - holding costs - realtor fees - your profit will give you your asking price. Also keep in mind it is good to have a cushion in the case you have to drop the price. Once you have those numbers figured out then you go to step 2. Have your realtor do a CMA with a .5 to 1 mile radius. Have your realtor look at all the recent rehabs and have him/her look to see what those investors purchased those homes for before rehab. This will tell you more about what investors are willing to pay for fix and flips in those areas. Compare your offers to those of the "before rehab sales". Compare your offer to those prior sales and assess where you stand.

Things that make your offer stand out are:

1. Cash offers 2.Higher Earnest Money offers  3. Quick closings under 30 days. These things will make you look like a serious investor and you want the seller to take your offer seriously. 

If you cannot get your realtor to do that work for you then get a different realtor. I am a Realtor and they need to do the work for you. Remind your realtor that you will be a multiple buyer of properties and will keep using them to buy and then re-list. If they want that business then they will get to work for you. If not, then get a different realtor as I stated or go directly to the listing agent on these deals.

Another great point that other BP members mentioned is that you need to be making at minimum 10 offers a month if not more, once you get a property then you can slow down your offers to accommodate your means. 

I'd bail in a hearbeat or re-negotiate sales price to account for what you will put into it for you having to exterminate. If the seller won't come down, have your realtor and attorney file a contract cancellation and request for EM back

Can anyone advise how you handle deals that are off market when you are negotiating a non owner but occupied residence? I had a seller tell me that they will sell to me but they didn't want the responsibility of giving tenant notice and that it would be my responsibility. I don't really like committing myself to a deal that is hard for me to market myself and not vacant. How would you handle that objection while negotiating a deal? Tenants are good tenants and always pay on time but I do not want to buy and hold. I want to either wholesale or fix and flip. 

@Catherine Moran Welcome to BP!!