September 11

Another Hurricane in Los Angeles?

We’ve had our fair share of crazy weather here in L.A. Heck, last month a hurricane and earthquake hit us on the same day!

But today I’m not talking about a real hurricane. I’m talking about how some people live in absolute squalor.

Working probate real estate for over 20 years, I’ve seen some pretty decrepit properties. But the one I went to visit yesterday may have been the worst one I have ever seen.

Paint peeling off the walls and ceiling, literal garbage piled up throughout the house so you could barely walk through. And I will spare you some other “treasures” we found just in case you’re reading this over your lunch break.

It looked like a hurricane went through this house. The house was just about destroyed inside and out.

The truth is it’s not uncommon for us to see houses that look like this almost every day when they go through probate.

It’s absolutely insane that somebody could live like this yet it happens every single day in America!

And this is why there is such a desperate need for trustworthy probate real estate professionals like you and me.

With this property, the personal representative lives in San Francisco and the property is located down south in Los Angeles. The decedent, a.k.a. the person who died, lived in Oregon and the two adult sons live in Pennsylvania. The attorney in charge of this estate also lives in Oregon. I live in Los Angeles and I understand probate.

I am here to help in whatever way the estate needs me to be of service.

In other words, it’s not always all about me! Yes, of course, I am in business to make money, but I am also in business to be a professional and the service provider to this niche.

Believe me, word gets around and soon you will be known in your probate niche as the expert because you will go around helping people with the wealth of knowledge that you will gain in this niche of probate. You know that old saying; “What goes around comes around.”

My students and I have experienced that to be very true in our probate business.

Because I practice what I preach, my students and I often get phone calls from attorneys with referrals to properties. We also get calls from mortgage brokers, financial planners, accountants, CPAs, escrow officers, real estate agents, and the list goes on.

I hope you get the picture…. Remember it’s not all about us, it’s about helping other people; and through that process, we will be rewarded.

Anyways, getting back to this property.

So does this kind of project scare you or excite you?

Personally, these projects really excite me.

When it’s a house that’s been forgotten about like this one I envision the beauty that it will be when I’m done with it!

However, it’s not mine yet because the executor still needs to make up his mind as to what he is going to do. He shared with me that as he sees it, he’s got two options.

One – sell it directly to me at a discount, take his money, and be done with it.

Two – list this house and try to take advantage of the market conditions and maximize his earnings.

If he chooses to list the house with a real estate agent, then I will refer him to the best person for the job.

I’m actually happy to do that because I love rewarding my real estate agents with business just as they are always on the lookout to help me.

Remember, this industry is a people business that requires us to look out for each other – as a family if you will. Some of these opportunities will be for me and some are for you or the next guy or gal.

That’s what I love so much about this niche in probate, there is always enough for everybody.

To your success,
Ernie “Helping Hand” Vargas | The Probate Fox


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