How To Invest In Probate Real Estate

Probate real estate investing is probably the most profitable throughout the whole business simply because a majority of the people you’re contacting are extremely motivated to sell. They have no emotional ties to the home and most live out of state which greatly increases their motivation to sell.

Best thing about it is it’s not as hard as many may think. This is what investing in Probate real estate consists of.

1. Find out where in your area they keep all the counties court records. This is usually the court house.
2. Once you find that out, you go there and find the probate division. This is where they will have all the probate records for the whole county.
3. These are public records so you’re entitled to see them. Just ask the clerk to see the most recent probate court records for about the last week or two. If there aren’t that many, go back a month or two
4. You now go through these records and get the deceased person’s name, last known address, their beneficiaries and their lawyers name and office address just in case you can’t contact the family members.
5. Next you send the beneficiaries the special probate letter.
6. After this, you should get some calls in. Sometimes you have to send a follow up a month later but I wouldn’t hassle probate leads as it is dealing with a death in the family
7. Go to view the property and negotiate a price depending on the repairs needed and what homes are selling for cash in the area.
8. Once you all can come to an agreement, market the property to your cash buyers and hopefully you can find one because if so, this is a done deal

Sometimes doing probates, you may run into leans and back taxes but it states in the contract that all leans and back taxes have to be taken care of by the seller. Since they have signed this agreement, this shouldn’t even be up for debate.

Probate real estate is one of the most profitable ways to invest simply because there’s usually extreme motivation to sell. Don’t worry if you don’t get any calls as soon as you send letter off. It sometimes takes a while.

I and my partner have had people call months after receiving a letter.

Best to send some then get some more leads as soon as possible. Learn most of what I know from my buddy who has the one of the most talked about probate real estate courses in the country.

If you would like to know more on probate real estate, check out my 4 part eCourse, “Super Probate Profits” ($47 value). I’ll be willing to trade it with you for only your name and email.

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Tagged As: probate investing, probate profits, probate real estate, probates by preston, ron mead probate