All Forum Posts by: Derek W.

@Sam M. I'm in the I.E. Send me a pm. 

I believe what 

@Rick H. is subtly trying to say is, would you know what to do with the deal if you found one? Just based on the fact that you plan to "flip the estate" tells me you are probably very new to real estate. Probate isn't as much as a lead source as  it is a convergence of multiple lists or situations.  It is one of the more complicated and intricate ways to make money in real estate. A certain amount of basic and advancedvknowledge is needed in order to adequately provide a service to the PR. 

If this is really a deal and I were in your shoes, I would partner with a local probate expert. You'll get to watch and learn, and still make some money from it. It could be that making a loan to the estate to stall the foreclosure is the best path. (Probably not in reverse mortgage) Maybe it's buying the heirs interest? I don't know, because I don't have all the facts and details. But an expert can often make a sweet glass of lemonade from sour lemons. 

That's not what I'd do. I would follow Ricks PETIO he provided. If there is equity and an opportunity, you can make a sweet deal before an attorney gets their claws on it. If you find there is not a deal here , you are still that much further down the road with learning how to analyse a deal and figure out due diligence.

I don't have definitive advice. But I can tell you that I recently did a claim on one of my dad's rental properties. I initiated the claim, I did everything. They never once spoke to my dad. But the check did get made out to him at the end. So you can certainly initiate a claim, just not sure who they will pay out to. Can you be added on the policy as co-insured? After probate the title will be in your name, so you will be able to insure it yourself. 

@Rick H.   may have better knowledge. 

@Derrick Ogerti'm afraid you won't last long on here if you got your panties in a bunch over that correction. I've been slammed way harder for much less. Take the advice of our elder and wiser, your advice was misguided, you got called out on it. Who cares? Move on. 

@Raden MantuanoI'm curious of their need for the quick sale. Can you elaborate on that?

That's a great service. If I was in your area, I'd certainly pay you for the data. 

I'm not trying to discourage you, but Southern California probate mailings from the court probate filing is a very over saturated list. You will be one of 20ish letters to be sent to the petitioner. 

Sure. 

it could be that what the attorney actually did was put the property in a trust, which would not require probate to transfer estate. Ask what documents our process  this attorney did.