All Forum Posts by: Sharlisa Elzy

Hi, I recently was contacted by a lawyer representing a client who owns a property they received after the death of their mom. I was able to speak with the client personally and we arranged to meet at the property yesterday so I could calculate any repairs that needs to be done. Well, once we met there, the executor was unaware that the city boarded up the property and it's now in receivership due to violations on the property which we briefly spoke about before. He gave me the number of the person to contact. The property from the outside looks like it may be a total gut rehab however there isn't a mortgage on it. I was looking to wholesale this property but I do not know if I should move forward. I don't understand how the executor owns the property but it's in receivership by someone else! Can I make this work?

@Paul Sorgi

@Paul Sorgi thanx so much!

Hey @Rick H. I just spoke with the executor and he sounds extremely motivated. He said that he can't afford the property and it's currently under control by the city because of several violations! The property has been vacant for a yr and there is no mortgage! I'm going to take a look at the place tomorrow with someone who's going to estimate repair cost and I asked him to bring the list of violations! I was able to view a few of them during my research via the recorders site and the ones I saw were minor like two $300 violations and a $600 but again he's bringing the complete list! After tomorrow, what should I do next? Also I asked him for a ball park fig and he said 185,000. I asked where'd he get the # and he doesn't know! Lol Advice would be greatly appreciated!

Just great @Wendell De Guzman ! I'm working with a lead on a Southside mf property! I'm planning to exit via wholesaling. You have just gave me inspiration plus I was a little skeptical about bandit signs but I may give them a try now! Thanx!

@Ibrahim Hughes Wholesale!

I like that idea! Thanx ;)

I appreciate your feedback! The lawyer actually called today and gave me the administrators number,before doing so he confirmed that I was aware that this was not a sf unit lol. He also said good luck to me after giving me the number so I have a good feeling but your information is useful considering I haven't given the owner a call yet, hopefully I can pull this off!

Hi, I am in the process of doing a probate wholesale deal for a multi-family unit. There are six units, all one bedroom! I have only been in contact with the lawyer and not the actual executors of the property so I wasn't able to really gage motivation! I really want to get a good deal and close this thing as it would be my first deal! Do you all have any advice? Should I ask the questions I had lined up at the actual walk through of the property or ask the lawyer to put me in touch with the owners prior to. Btw this property is on the Southside of Chicago. Could be a great rental property for interested investors.

Ok thanks!