Why Probate Investing
Investing in real estate is absolutely the fastest way to go from a position of struggle and scarcity to a position of wealth and abundance. Probate investing even more so. If you don’t believe that, then just take me for example. I can say it because I speak from experience. Being raised in a poor background truly builds the hunger and aspiration to do more and be more in life.
And though I had these desires, I never really had the direction until I took my first probate investing real estate seminar.
Now I sure hope you grew up in a nurturing and positive environment the way all Americans should, but irregardless of whether you did or didn’t, let me tell you that if you bring out your hunger for success you too can find victory in your own probate investing niche.
My First Probate Property
For me everything really took off when I flipped my first property because I took home a nice profit of $157,877.84. From that point, on I was hooked on real estate investing and utilizing real estate as my vehicle to financial freedom.
When I started investing in real estate, I went the traditional way by pursuing notices of default aka foreclosures and that did well for me until… I stumbled upon a property that was in foreclosure and yet it was in probate. The opportunity seemed fantastic. It had a very low mortgage on it and that meant lots of equity!!! Plus the house was vacant and was going to sale at the courthouse steps in less than one month.
Now because I was very diligent about finding owners when properties were left stranded, I found the would-be owner to this property and he happened to be the heir to the decedent who once owned this property. That was my introduction to probate investing.
Since I only had a short period of time until this property either went back to the bank or to a very happy bidder at auction, I asked around as to what I do with a property in probate and I could not get a single straight answer from anybody. Worse yet, this heir wanted nothing to do with this property because he told me he had no money and no interest in having a liability such as a property in his hands. (This is where I must tell you that if you think you don’t know a thing about probate the poor executor or administrator knows much less.) Hmmm. Think about it. You can be your local probate investing niche expert to fulfill that vacancy role and in the process become wealthy.
Okay back to the probate/foreclosure…The property went to sale at the courthouse steps and another investor picked it up and resold it for a nice profit. Good for him and good thing he had all the cash to buy it but as for me… From that discovery on I swore I would learn what probate investing was and how I could participate in it.
Reasons for Probate Investing
Investing in real estate happens for many reasons. Some may invest in real estate to buy their personal residence and take part in a long-term investment while they raise their family. They take part in the appreciation and tax write-offs that they will get over the next thirty years. Others invest in real estate to buy and hold property as rentals, and have the benefit of the tenant eventually paying that loan off. They, too, experience the appreciation and tax write-offs. Still others invest in real estate as a vehicle to capture faster profits through what some consider a high paying job aka flipping real estate property. The art of buying and selling for as big a profit as you can possibly get.
All are fantastic methods to use in Real Estate investing and are especially beautiful to utilize in what the insiders know as the probate investing niche.
When you invest in real estate through probate investing, you deal directly with the decision maker who is ready, willing, able, and motivated to sell today. The only problem is he or she does not know how to go about it and nobody is approaching him unlike foreclosures, REO’s etc… That is where probate investing and you, the probate investor, come into play.
Let me tell you another reason or two why probate investing services are greatly appreciated. When an heir and the estate inherit property; they also inherit burdens called estate taxes, mortgages, property upkeep, and repairs.
When a property is vacant that becomes a bigger burden as it then opens the door for burglary and potential liabilities, plus good luck with property insurance on a vacant home. In addition, when there are multiple heirs it seems like everybody is too busy and the one decision in common between the heirs is usually to sell and to receive their fair share of the inheritance.
In addition, when you deal with an out of town personal representative and he or she must take on the role of administrator or executor and spend hours, days, and weeks managing the estate; the motivation to sell and liquidate to a probate investor almost always is a perfect fit.
If you are, or want to be, in the business of utilizing real estate as a vehicle towards your financial freedom; then you have found it in this underserviced niche that is in need of your probate investing service.
I don’t want to make it seem like there is no work involved in probate investing because any reward in life; is also well earned. Probate investing is no different but you don’t need to quit your day job to get started. Instead, because probate investing is the best kept secret in real estate, your services will be welcomed with open arms by the seller versus an arm wrestle like some other real estate acquisition niches have been known to be. Plus the profits in probate investing are fantastic and the discounts are anywhere from 30 to 50% below market value.
Probate Investing – The Hidden Treasure
An additional profit center in probate investing that must not be forgotten, is buying the entire estate whenever possible. What I mean is; cars, antiques, jewelry, or even home furnishings. You can even host an estate sale, sell through E-bay, or maybe joint venture with an antique dealer or an estate sale liquidator and get a percentage for your newly acquired inventory. One of the many things I love about probate investing is that there are so many niche businesses within the niche of probate.
When a person passes away all of the worldly possessions they once owned are left behind. Probate investors obviously are interested in real estate but I must stress the importance of not overlooking the other treasures that can be found from antiques, to mutual funds, stocks, bonds, and savings accounts. The importance to you regarding this relates to your ability to be able to refer them to a third party for a referral fee if you are not interested in purchasing it yourself.
And finally one additional way to help the estate is by funding a cash advancement. There are times that an estate may need cash to either pay bills or might even have made a decision to keep properties versus liquidating and in this instance your probate investing angle could be to refer this file to your local estate cash advancement lender and in exchange receive a commission for your work.
As I said before…there are multiple opportunities to be a real service provider within the probate investing field and in exchange build for you and yours a life of financial abundance. That’s it, what better way to live than to be appreciated by those you help and come home with the sense of accomplishment and to see the results in your bank account too!
This Is Probate Investing The Easy Way…