February 19, 2013 in Probates/ Probate Investing
When I am going through the leads looking for those that have property that I might be interested in, I put the information on a special probate sheet that I designed. It makes it much easier to put it into my database later on.
As I said, there are only 4 pieces of information that you need. The name and property address for the deceased, and the name and address of the executor or administrator of the estate. Once every name that is listed in the newspaper has been checked on the tax assessor’s site, then I am ready to enter them into my database. I use an Act database that is from Sage. It is not specific to real estate, but it allows me to do everything easily that I need to do.
The Importance of Having a Database
I cannot overstate the importance of having a database for your leads. Don’t try to manage this process by putting these names into an Excel spreadsheet. It just won’t work. You need a place where you can keep these people; a home for all your leads.
You will talk to sellers over time that may not be so motivated initially. Read the rest of this entry →
February 13, 2013 in Probates/ Probate Investing
I have found probate investing to be one of the most lucrative niches in real estate investing. It is also one that most people assume is difficult to navigate. The truth of the matter is that it is a relatively simple and straightforward process once you have a basic understanding of the probate process.
How Do I Find Out Where I Can Get A List Of Probates?
It’s really easy. Look up the phone number for your local probate court and give them a call. Ask how you can get a list of probates. They will tell you exactly how their system works.
In my city they are published in the newspaper so those leads are free. But be aware, that they have different procedures in different areas. In some areas you can get those leads online, or you may even be able to purchase a list. While purchasing a list may not be your first choice, it sure beats going down to the courthouse to get those records which is the case in some areas.
The important thing is to make the call to the probate court and begin the process.
What information do you need to begin the process?
There are only 4 pieces of information that you need to get started: Read the rest of this entry →
January 10, 2012 in Getting Started, Investing In Real Estate
I have been investing in real estate since 1998 and I still get excited about this business. That is both good and bad especially when you are just starting out. It can be so tempting to jump into the arena in a big way; to let your enthusiasm get the best of you so much that it lands you in hot water.
It’s good to have that enthusiasm because that’s what fuels you when you are tired from working that 9 to 5 job, but you still need to do some marketing for your real estate business that evening. Hanging onto that enthusiasm will allow you to keep going when you feel like throwing in the towel. Read the rest of this entry →