It’s really odd how several people will ask me the same question over the period of a week or two. This past week I had no less than half a dozen real estate investors ask me the same thing; whether you should call probate leads as your initial contact.
Specifically they all wanted to know if they can pick up the phone and just call these folks as soon as they get the lead. My answer is always the same.
My reader question today comes from an investor that has really found himself in a situation he could have never imagined. He bought a great property that was part of an estate, and now the deceased's relatives won't move out of the house. Read the rest of this entry →
Yes it can be. If you are looking for a really easy way to make millions in real estate let me just tell you that just doesn’t exist.
I’ve said it many times; each area is different. There are 3300+ counties in the US and each one of them has a different procedure for getting leads. There is also a big difference in the procedures from state to state. It’s a pretty simple process here in Kentucky, but that’s not the case in some states like California. Does that mean you shouldn’t try to work with probates in those areas? Not at all. It just means you will have to “learn the rules of the game” in your area.
Going through all those leads is really tedious. Isn’t there an easier way; a shortcut?
Most of the time when I write about probate investing it is to show you ways to make money working with these folks that have the responsibility of settling the estate. Probate investing is a very lucrative niche. These folks are often some of the most motivated sellers on the planet, because they have just inherited a property they don’t want. They just want the cash that’s sitting in the house. More often than not, the property needs a lot of updating. It may also need a lot of costly repairs which is something they just don’t want to spend their time or hard earned cash on.
Did you ever wonder why not everyone’s estate ends up in probate? It’s because those folks took steps to avoid the probate process.
The vast majority of folks will have their estates end up probate at the end of their life. But it doesn’t have to be that way. You just have to follow some simple and effective strategies so that all or at least some of your property and cash goes directly to your heirs.
A few weeks ago I was asked to do a guest podcast with Michael Quarles over at Buy Sell Fix Flip.
You might remember that Michael is also the owner of YellowLetters.comwhich happens to be the direct mail company that I use in my business.
I like talking real estate, and I especially like the niche of probate investing. In this podcast you will learn why these are some of the most motivated sellers on the planet. Listen in as we talk about how you too can profit by becoming a probate expert.
Probate Investing Tips and Tools
Here are just some of the things we talked about in this podcast:
The only four pieces of information that you need
The specifics of a direct mail campaign for probates
Getting the leads
What is the BIGGEST stumbling block with probates?
How to make sure you have enough time in your contract if problems crop up
Dealing with heirs
The pros cons of assignments
Where to find buyers your deals
How to do a double closing
Can you really do a double closing with no money?
Do female probate investors have an edge?
Why Real Estate Investing is perfect for women and so much more…