I’d rank this one right up there:
http://www.reiclub.com/forums/index.php/topic,37869.0.html
You all will probably think I’m referring to the kitchen rehab…(not really)…note it’s a 6 page post.
Great insights from fdjake…I swear…this guy is brilliant…
-Mike
Personally, ide rank one of my posts at the top, but thats just me 
Im brilliant!
This is one of my favorite. I’m in the process of selling off my rentals. This post states the problems and solutions perfectly.
Hi John,
Great…
Will read that one over.
Hope you clear out that inventory…s o o n.
-Mike
Obit mailing to address listed in paper, house needed complete interior updating (1970’s time capsule)
Owner passed (obviously) Son was from out of state, (says so right in the OBITS folks…Leaves a son from “pick a state” Again… Are you LOOKING at what’s right in front of you???) The son just wanted out! Offered to buy it AS IS, close in 5 days, all he had to do was pick up a check.
I handled everything including the clean out. He left the entire contents (all junk) except a few minor things which he took.
Made my offer based on approx. 50% of the after rehabbed value and he took it.
Rehab took exactly 4 weeks from start of cleanout till ready for showing.
Hi fdjake,
Great Articles!!! Regarding this post, you stated that you found this in an obit and mailed to the listed address. When doing probate properties, do you research them first before contacting next of kin (out of state son in this case) or do you wait until you get a bite before doing research? I guess I’m trying to gauge which is more costly: researching properties before contacting the family, or finding out the deceased may have refinanced the property 100% after you’ve already spent time talking to family?
The obit is just the beginning of the process. I ALWAYS stop by City Hall to see if there is any equity in the property before I contact anyone. A LOT of properties got refi’d to death and have NO EQUITY. It takes more time but it limits the number of properties that aren’t worth the effort.