|During the webinar I presented last week, I mentioned a probate house that I purchased that had thirty grand hidden inside.|
It’s crazy what people leave behind. Some investors use these treasures to fund their flipping business.
Over the years I’ve paid for a lot of lavish family vacations with these funds too (my favorite place to visit is definitely Hawaii!)
So why is probate so lucrative? People just fail to plan. And one of the biggest failures to plan came out of Chicago.
An 87 year old Joseph Stancak lived a modest life in the Chicago suburb of Gage Park. When he passed away a few years back, no one really noticed. He had no wife or children, his siblings had all passed with no children.
But what he did leave behind blew everyone’s mind. It turns out he was worth over 11 million! Since there were no immediate relatives a couple of Chicago lawyers got to work and created a family tree identifying about 60 distant relations across the globe with whom they could split up the estate.
I don’t think I’ll ever find that kind of money stashed in the floorboards of a house I’m flipping, but thirty grand is nothing to scoff at.
Probate will definitely keep you on your toes (and well fed!)
To your success,
Ernie “Q&A” Vargas | The Probate Fox
He Left How Much Behind?