This is an email I got over the Thanksgiving weekend. I thought you could benefit from the answer.
——– Original Message ——–
Subject: RE: Happy Thanksgiving
Wow! Long time, no hear. I know it is a blast to your database and I am one of many, but I am grateful for your email wishes and wish you much success beyond what you have already accomplished. 2015 may be the year I excel In probate! Do you have any updates on how probate has changed in the past 5 years? Did the recession affect it? Has competition become more intense for the probate properties since the auctions, REOs and short sales have diminished for the house flippers?
Greg
Hi Greg,
Opportunities in probate are still steady even as the reo and short sales have decreased.
Many have come to realize that the market of opportunity can be found in probate which, ironically, has been here all along even in the REO and short sale days. What’s different today is that many people have jumped into probate without knowing what they are doing and then jump out almost as quickly as they came in.
But truth be told, I’ve seen that happen throughout my entire investing career. People jump in, they think they can figure it out on their own, get frustrated, jump out, and move on to something else.
The big difference I would highlight is that there are more people in this niche that don’t know what they are doing, than those that do. Sometimes that means they are over-paying for these probate properties and other times they end up frustrating these poor executors and administrators.
Your angle should be to stand out from those individuals.
Get informed and educated and connect with the right network that understands this niche.
To your success,
Ernie
