Probate investing is one of the most lucrative niches of all. Folks that have inherited a house almost always want just one thing; the CASH that is sitting in the house.
The primary thing most real estate investors get hung up on doesn’t have anything to do with the actual process of working with estates and houses in probate.
It has to do with the mindset of the investor. Most real estate investors are hesitant to jump into the arena of probate investing because of a perceived negativity that goes along with working in that niche.
In reality, nothing could be further from the truth. The executors and heirs have a house they must sell to settle the estate. It just doesn’t get any simpler than that. They need sell the house or buy out the other heirs, and they have a timetable to get that done.
Know that You Are an Integral Part of this Process
The vast majority of people involved in the probate process have to deal with all of this during what is a very emotional time their lives. They are also confused and overwhelmed by the entire probate process most of the time. They are dealing with the legal aspects of settling the estate, and they have house to sell that is most likely crammed full of the owner’s belongings.
When they find someone that is knowledgeable in probate investing that can step in and help navigate this whole process they are grateful. In most cases, by the time they get around to selling the house they just want the whole process over; they want to be done and move on with their lives. Read the rest of this entry →