When You Can’t Find Real Estate Leads, Look to Probate!

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By Leon McKenzie

The real estate industry is changing. With more and more competition in the marketplace, challenges in getting a loan and cautious homeowners staying put, it can be nearly impossible to find property that you might be interested in purchasing for your real estate portfolio. Is there a solution? Is there a way to combat the real estate lead shortage that has permeated virtually the entire industry and has stalled your efforts at investing?

What new and experienced real estate investors are seeing in the market is a fundamental change that may last for the foreseeable future. Overall, the nation is experiencing a shortage in the amount of properties that are being put on the market, leading to a lack of leads. This is creating increased pricing on homes that are for sale and issues in trying to build and acquire a real estate portfolio.

Why a Shortage in Real Estate?

The shortage in real estate leads that is occurring in most areas of the United States is due to issues in the lending industry that started several years ago and that continue today. With it becoming more and more difficult to qualify for a mortgage, homeowners are holding onto their homes instead of buying and moving because they have no other option. Homeowners that want to expand their homes are simply adding on or remodeling to avoid the issues with lenders and the hassles in moving. This is leading to a painful shortage in the real estate market. The Philadelphia Inquirer agrees, “. . . Some observers believe they are seeing the emerging signs of a housing shortage. . . Predicting how much housing is needed involves a complex calculus that weighs hard statistics (new-home starts, sales of previously owned homes) against a certain amount of demographic tea-leaf reading (household-formation forecasts). Thus, there isn’t complete consensus on what will be enough.”[1]

As mentioned, while the overall interest rate is the lowest it has been in years, there are few people with good enough credit to purchase a home. When someone does decide to sell their home it is usually because they have to move for a job relocation or for another pressing matter, such as medical treatment or because they need to downsize – or they are in the enviable position of having good enough credit that they were able to secure a preapproval on a new loan to purchase a bigger home.

How does this create a shortage? Since lending is tight, fewer people can afford to put their homes on the market. That means that the availability of homes has decreased. To add to the shortfall, the slow economy has led to a construction slowdown, which means that fewer homes are being built to accommodate new communities and homes that are being torn down. Overall, this has led to a painful real estate shortage for much of the nation. The Sacramento Business Journal reported that, “One analysis of the region’s housing market thinks there’s just not enough for sale. Again. A shortage of inventory is driving everything in the residential market from pricing to rental affordability, according to Zillow. One reason for that is a lingering hangover for the building industry from the housing bust of the last decade, said Svenja Gudell, senior director of research with Zillow. Though the economy began to recover three years ago, housing construction is still lagging, she said. In 2012 and 2013, only 159 new home permits were issued for every 1,000 new residents, according to Zillow.”[2]

The overall lack of new homes available and the persistent challenge in getting a loan is creating issues for investors as they try to navigate few options and high prices.

Housing Shortage Equals Inflated Prices

Most economists will tell you that the biggest drivers in the market are supply and demand. As you can imagine, decreased supply in the housing market means that pricing has skyrocketed, something that real estate investors simply cannot afford when they are looking for business opportunities. The Sacramento Business Journal reported that, “For both renters and homeowners, Sacramento is now defined by Zillow as one of the 10 least affordable metro areas in the country. Mortgage payments here take up 26 percent of income, compared to 15.3 percent nationally. Though the percentage is lower than Sacramento’s historic mortgage payment percentage of 29.5 percent, Zillow noted buyers at the moment also tend to have lower median incomes.”[3]

These historically high prices mean that people who are making less money have to spend more of the income that they do have on a home. Realtor Magazine reported on the decreased inventory across the country and the increased prices, saying, “The inventory of existing homes is at its lowest level in seven years, while newly constructed home inventory has hit a 50-year low mark. Falling inventory is causing home prices to shoot up higher and faster than most analysts anticipated. The national median price of transacted homes was up 9.5 percent in August. Other price measures, like Case-Shiller and the Federal Housing Finance Agency price index, which look at price changes in sales of the same properties over time, have been rising as well, at double-digit annualized rates in recent months. Of course, not all markets are this robust. Phoenix is looking to notch a 25 percent gain for the year, while Chicago is just emerging from negative territory.”[4]

Surviving the Shortage as a Real Estate Investor through Probates

If you are interested in continuing to work in real estate, then you know something has to change. Real estate investors have a limited amount of options when facing a market like this. Some investors have simply moved on to other business opportunities, while others have succumbed to the increased prices, which have hurt their business and their balance sheets. But, there is a segment of real estate investors who have found a profitable way to deal with the challenges of the housing shortage by finding a new source of leads.

While many investors are only looking at the traditional segments of the market – single family, residential homes that are for sale by families who want to upgrade that are listed on the traditional MLS-style forums – there are other homes on the market that can be purchased at a significant discount. Properties owned as part of a probate are widely available and can be purchased for well less than comparable homes in the area. In fact, there are an estimated 100,000 probates entering the market each and every month throughout the United States.

Probate properties are those homes, apartments, multi-family homes and commercial sites that were previously owned by an individual who has passed. The local court then appoints an Executor to ensure that these homes and other properties are sold to take care of paying medical bills, funeral fees and other obligations.

Probates Provide Motivated Sellers

Once you start working in probates you will understand why Executors are motivated to sell their properties quickly and for a substantial – 30 percent to 50 percent off – of current market values. Each Executor is responsible to the court to ensure that the assets of the individual who has passed have been liquidated in order to meet financial obligations and provide an inheritance to the individuals left in the family.

Executors not only feel the pressure to sell because of the court, but they want to sell because of their own convenience. While some Executors can be a family attorney or an accountant, many times the Executor is a family member who has responsibilities of their own. They may even live out of state, and making repeated trips to show a home or apartment building can be nothing short of challenging. Executors also understand that, in addition to time constraints, the home their family member owned may not be fully updated. All of these conditions provide the opportunity for homes and other properties to be purchased for a fraction of the current market value.

Finding Probate Leads

Now that you understand the value of having access to probate properties in this challenging economy, you may be wondering how to get access to them. Many individuals who are starting a probate business decide that going to the local courthouse is the best way to look for opportunities in their area. This can take time, as you need to allow for travel to and from the courthouse as well as time evaluating filings to see if there are holdings within the probate appropriate for your business. As you can imagine, this can take away valuable time from your growing investment business, your family and the job you currently hold.

There is a better way. By using a professional probate lead service you can have up-to-date information and leads delivered right to your inbox on a weekly basis. With no more trips to the courthouse, no time wasted looking at complex filings that are hard to understand, you will have more time to go out and evaluate properties and opportunities. Unlike traditional leads in the current real estate market which can be nearly impossible to find and create the environment for high pricing, there are literally thousands of options for probate purchases each and every day.

Build a Vibrant Real Estate Investment Business with Probates

Having access to leads on a regular basis means that you will be able to find success in probate real estate investing. With time, patience and a carefully thought out business plan, you can be sure that having these leads will make an enormous difference in your ability to purchase homes and other properties as well as acquire them at a favorable price.

Probates are not limited to residential real estate, either. What you will find is that you can expand your investments to include apartment buildings, multi-family units, businesses, vacation homes and even purchase and resell personal property, including antiques, artwork and vehicles. The variety and opportunity with probates is endless because there is always a supply of leads available.

The Most Reliable Source

Are you looking for a reliable lead source for all of your probate investment needs? The experts at US Probate Leads offer the highest quality leads available on the market today. Our certified lead specialists visit every courthouse in the United States, constantly evaluating new probate filings and making those available to our investors. In addition to our premium lead service, we also offer services that can keep you informed on the newest trends in the market. Contact our office today to learn more about our lead service, monthly newsletter, e-books, seminars, webinars and even our individualized mentoring program. Contact us today to speak to one of our friendly, knowledgeable customer service representatives.

 

Sources:

[1] http://www.matrixrealestate.com/about-matrix/market-news/slowing-construction-could-lead-housing-shortage-experts-say

[2] http://www.bizjournals.com/sacramento/news/2015/03/30/inventory-shortage-is-hurting-sacramentos.html

[3] http://www.bizjournals.com/sacramento/news/2015/03/30/inventory-shortage-is-hurting-sacramentos.html

[4] http://realtormag.realtor.org/news-and-commentary/economy/article/2012/11/seeds-housing-shortage

 

Social Media Marketing Statistics and What They Mean For Real Estate Businesses

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By Leon McKenzie, CEO, US Probate Leads

Did you know that there are a total of 2.789 billion social media users in the world? Did you also know that 81% of all Americans have a social media profile currently?

Impressive, isn’t it?

It is precisely because of the popularity of social media that you should incorporate this platform within your marketing campaign.

If you don’t, you are going to lose a lot of potential customers and home sellers who would otherwise have helped boost your business.

But before you make a foray into social media, here are some social media statistics and their implications that you would do well to pay attention to:

  1. 21% of For Sale by Owner Homes (FSBO) Will Be Marketed Via Friends, Relatives, and Neighbors

According to the National Association of REALTORS™, FSBOs accounted for at least 8% of all home sales by 2015. What is significant is the fact that many of these homeowners looking to sell will use their friends, relatives, and neighbors as mouthpieces to market their properties.

What These Numbers Imply:

Many of the people who will help a homeowner sell a home not only have offline relationships, but online ones as well. That means that they will talk about the homes that are available for sale with people in their social networks.

Considering the fact that 51% of home buyers find their homes via the internet, you cannot afford to underestimate the value of social media in your business. Where do you think they will go to ask for recommendations from when they decide to purchase a home? And who do you think will be in a good position to let them know about an available property?

To put it simply, if you do not have social media accounts, you face losing up to 51% of your potential client base. And that means you will struggle to sell any homes you invested in when the time is right.

Without social media platforms, you also stand to lose real estate leads that would otherwise have helped you get that property that you have always wanted.

  1. 88% of First Time Buyers Will Purchase A Home through an Agent, and Yet Only 9% of Realtors Use Social Media to Market Their Listings

Most first time home buyers are not willing to search for a home on their own. And yet despite the high demand for agency services, many realtors do not even bother to market their listings via social media.

What These Numbers Imply:

You would do well to offer your services as a real estate agent to first time home buyers. You can do this by placing ads on social media platforms like Facebook.

However, unlike most realtors, do not fear to market your listings via social media. You can choose to promote your listings once a week. During this time, you should ensure that you list all the homes that you have available for purchase and write a short description of each of them. If you do not promote your business in this manner every day, it is highly doubtful that your audience will get tired of it. Just politely ask people to share and then sit back and watch the power of referral marketing in play.

If you have invested time providing value to your audience in other ways, the results of marketing your listings on social media will be positive within a short time.

  1. 72% of Online Users are Facebook Users

It is not surprising to see such a high number of users online make use of Facebook in their daily lives. This is by far the biggest social media platform available today. Statistics show that Facebook has at least 1.968 billion users worldwide!

What These Numbers Imply:

It does not matter whether you are in the business of buying homes or selling them. If you want to reach the widest target market available anywhere online, you cannot afford to ignore Facebook.

You could promote your business by marketing your listings on a regular basis. But before you do that, ensure that you provide value to your audience. This can be done through:

  • Short but informative social media posts
  • Regular Q & A sessions that allow you to educate your audience on various real estate issues like renovations, real estate business operations, staging, what to look for when buying a home etc.
  • Live and on-demand webinars that allow people to learn more about the real estate industry.

The beauty of it all is that Facebook will enable you to do all these things on one platform.

  1. Visual Content Is 4000% More Likely To Be Shared On Social Media Compared To Any Other Type of Content

No matter which way you look at it, social media posts are more likely to be shared far and wide if you incorporate visual content within them.

What These Numbers Imply:

If you have a social media account, and your marketing efforts are not bearing fruit, it is time to analyze whether you have taken the time to include images.

Consider using high-quality detailed images of any listings you choose to market on social media. Incorporate infographics to not only increase the chances of your content being shared, but to also improve your online visibility and reputation.

Infographics can be based on reputable statistics about what is going on in your little corner of the real estate industry. For example, if you are a probate real estate investor, consider finding links that prove the benefits of probate properties for home buyers. Considering that over half of home buyers will find homes to buy online, an infographic showing the benefits of buying certain types of homes may be the ultimate determinant on what home they end up purchasing. And all those people on social media may help drive a huge amount of traffic to your site.

  1. 51% of Home Shoppers Read General Home Information on Mobile Devices

Social media is great for interaction with potential and existing clients. It is also wonderful for referral marketing. And eventually, many of the people who see the links you share on your social media page will show up on your business website – assuming that you have one.

What These Numbers Imply:

When you have half of home shoppers reading general home information via their mobile devices, it makes the nature of your website even more important.

Perhaps the first question should be: do you have a website? If not, what are you waiting for?

The second question is: is your site optimized for mobile users? If the answer is no, then you need to get moving to rectify the matter. According to We Are Social 2017 Global Overview Report on social media, there are 2.547 billion mobile social media users. It is for this reason that you need to move quickly to optimize your website for mobile device users.

If you don’t rectify the issue of mobile site optimization, expect Google penalties to apply. This means that you will experience lower online visibility and ultimately, a lower amount of traffic.

And if you want to boost your real estate business, then not having a good website is counterproductive even if you spend time promoting your brand on social media. You are going to lose a lot of potential customers who would have wanted to learn more about your properties. Is that what you want?

  1. 84% of CEOs and VPs Say They Use Social Media When Making Purchasing Decisions

The number of company decision makers that make use of social media in order to come to a decision regarding what to purchase or how to proceed is quite significant.

What These Numbers Imply:

You cannot ignore the role of social media marketing when it comes to influencing decision makers. Suppose you have commercial properties that you would like to sell?

In order to appeal to the people at the top, you need to set yourself as an authority that VPs and CEOs can trust. And yet despite how effective social platforms can be for this purpose, only 27% of top companies say that their C-Level Executives are actively involved in social media.

If you want to stay ahead of the game, do what your competitors are not doing: use social media to elevate your real estate brand. Post long-form content on social media sites like LinkedIn and share your expertise on platforms like Facebook. Make sure that images of your properties appear on Instagram and Pinterest.

The more people you attract with your content, the higher the likelihood that you will attract the attention of decision makers as well. So when it is time for you to sell that commercial property to bring in the money, you are going to find a large audience that is willing to recommend your property to as many people as possible. In addition, you may just find the right buyer without much effort.

It takes work to market your real estate business on social media. But you know what? This type of internet marketing platform is free at the basic level, offers you the chance to appeal to a larger audience, and enables you to cultivate a good relationship with your potential and existing customers. All these things make it much cheaper and much easier for you to find and good properties that have a higher chance of getting sold easily when the time is right. It is therefore in your best interest to use social media to make a difference in your real estate business. What are you waiting for? Get started today!

Want to Build Your Probate Business? You Need a Great Lead Source!

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By Leon McKenzie

Today’s real estate investors face the uncertainty that a changing market brings. From issues with lending to interest rates and disclosures, building a real estate business can be a daily challenge – though one that can be met with hard work and a dedication to the industry. If you are building a real estate business, then you need to have access to all of the information that will help you to build your portfolio.

One of the key pieces of information that you need in order to create a real estate business is to have accurate information as to which properties are currently on the market. Having access to good leads is the single best way to ensure that you are finding the options that you need in order to beat other investors to the negotiating table and get a great deal.

Understanding that leads are a key component to building a real estate business is one thing. Being able to access them in a historically tight market is another thing completely. Current market conditions are making it nearly impossible to purchase a home using a traditional manner without completely overpaying for the property or having to compete with a long list of other potential buyers. This is simply not a model for success for a real estate investor.

Leads are the Way to Build a Profitable Real Estate Business

Not having leads can cause your business to stall in a way that can be truly detrimental over the long term. Karen Rittenhouse, an expert in buying and selling real estate said, “As an investor, the key fundamental element in the first level of your real estate investing business is creating systematic and consistent lead generation. If you are not focused on lead generation, you do not have a business, you have a hobby or a dream.”

Think about it this way. . . if you don’t have any way of knowing what is on the market, or get that information when it is too late and the price has been driven too high, then you will miss out on opportunities that could change your financial future. Timely, viable leads have to be an integral part of your real estate business if you expect it to grow. Otherwise, you will simply have a “hit or miss” strategy hoping that you find something that you can afford and that is available when you need it.

The experts at Realtor Magazine say it this way, “The sea change in real estate these past few years has made leads more valuable than ever before. . . Whether your overall strategy employs cutting-edge technology solutions, tried and true methods, or a blending of those, the end result should be to turn leads into business.” The value in real estate leads is that it opens doors of opportunity for you to purchase homes on a consistent basis, giving you a way to fuel your business.

Where Can You Find Great Leads?

If you have worked in real estate for any length of time, then you know that finding viable leads can be one of the hardest parts of the business and one that can cause a whole host of problems in taking your enterprise to the next level. The experienced professionals at Realtor Magazine said, “But most [investors] encounter problems somewhere in the process of moving from lead capture to lead conversion . . . In particular, lead conversion — that is, turning a received lead into a face-to-face presentation — is a frequently a source of frustration.”

While some real estate professionals can’t seem to meet with sellers, others find it difficult to find leads in the first place. There are opportunities to locate real estate leads by networking with others in the community, using social media, buying ad space or even using SEO tactics, but all of these require that the leads come and find you. You are putting information out that will help people to find a place they can sell their home. That doesn’t help you to move the process forward on your own end, though.

Finding Leads You Can Pursue

When you discover that advertising and networking simply won’t help you to move your business forward, you need a new plan, one that involves being able to act on your own leads. Getting those leads is the only stumbling block. Once you have them, you can move forward with communication campaigns that will provide you with a non-stop stream of opportunities to build a thriving real estate business.

Luckily, with the advent of technology, new lead sources have been developed that can help you to get information that can give you an edge. These lead sources, such as the one developed by the experts at US Probate Leads, give you instant access to lists of homes that may be available for sale due to probate. Delivered to your inbox on a regular basis, each of these leads has been tested to ensure that it is viable and timely.

Why Choose Probate Leads?

There are many reasons to pursue probate leads instead of traditional real estate market leads. With the aging baby boomer population, more and more homes are coming available that can be purchased for a significant discount. Why is this the new trend real estate investors are experiencing? When a loved one passes away, someone needs to take responsibility for dealing with all of the personal items, investments and property that the individual owned prior to their death. To deal with this issue, the court assigns an Executor, who has the right and responsibility to close out the individual’s financial dealings. The Executor is charged with the decision making ability to sell homes, personal property and close accounts in order to pay funeral bills, medical charges, close credit cards and distribute money to the heirs. This responsibility comes with the ability to sell property, which is the point at which they become a lead for a real estate investor.

The Baby Boomer Generation Will Provide Extraordinary Leads

The aging of the largest generation in the history of the United States will mean that there are more leads than ever for real estate investors. What characterizes an actual “lead?” According to writers at Realtor Magazine, they state:

“I believe a ‘real lead’ is someone who will take action in the next 30 days and has a defined need or void that can be clearly identified and filled by my service. Either they have a high level of exclusive commitment to me or I can get them to that level by meeting with me (and they’re willing to meet with me). Eventually, I learned to tighten my definition to anyone who would buy or sell within a year. Then I tightened even more to anyone who would buy or sell within six months, then 60 days, and finally down to my current demarcation. If I had done this from the beginning, I would have saved myself from a lot of mistakes, anguish, and lost income. Now, I’m not saying to throw the long-term leads away. Actually, let me put it as clearly as possible: Do not throw the long-term ones away! Today, we’re finding people in the search process much earlier than before because they’re out looking and shopping. We need to engage and connect with them.”

As you can see, a viable “lead” is one where the Executor is willing to sell their property in the short term. The reason that so many Executors are quick to sell is that they need cash to deal with the estate’s bills. These can include more than just the cost of the funeral, but also credit card bills, income tax, real estate taxes, estate taxes, medical bills, home maintenance fees and much more. In reality, Executors need investors who are willing to purchase their home quickly. That said, short term leads are not the only ones that are viable. While you may want an Executor to sell quickly, having leads that you can pursue over the long term will give you a constant stream of homes to evaluate to add to your portfolio.

Due to the need for cash, probates tend to sell not only quickly, but for a reduced rate. The reduced rates you can find as a result of good leads can save you from thirty to fifty percent on assets owned by the estate. With some careful research, you can find many opportunities within each probate to profit.

More than Just Homes with Probate Leads

While you may think that probate leads will only give you information about residential property that is simply not true. With probate leads, you can learn about many investment opportunities that are available in any given estate. These can include commercial property, such as warehouses, office buildings and restaurants; vacation homes that can be rented out for a profit and enjoyed by your family; and apartments and condos. Additionally, you can find businesses that are for sale that are currently running that will quickly add a stream of income to your family.

With probate leads it is also possible to create more than just a real estate investment business. There are many associated services that can lead to profits. Thinking creatively about how you use your leads may include starting an estate sale service and helping Executors to sell the personal items that have been left behind by their loved one. Using a lead service can also help you to offer rehabilitation services to commercial property owners. If you have experience in antiques, collector cars, boats, art, ATVs, RVs, model trains or personal watercraft, you can specialize in buying and selling these valuable items by using leads to locate them.

The Best Source of Leads

If you are serious about building your business, then the best way to do so is to get your leads from the nation’s best source. At US Probate Leads, we offer the highest quality leads in the United States. Our trained team visits courthouses in every county across the country accessing the most up-to-date and viable probate leads. This data is sent to you directly to your inbox each week, saving you the time, expense and hassle of going to the local courthouse and sifting through filing after filing.

In addition to our leads, we offer a wide range of supportive services that can help you to build your business. From software to books, e-books, webinars, seminars and even individualized mentoring services, we can ensure that your business grows and develops to meet your vision. Call us today to speak to one of our friendly, knowledgeable team members about leads in your community or other resources. Call now!

 

Sources:

http://www.karensperspective.com/100-ways-to-create-real-estate-leads/

http://realtormag.realtor.org/sales-and-marketing/feature/article/2011/08/what-lead-you

Probate Investing: Getting Inside the Mind of the Executor

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By Sharon Vornholt

Today I want to talk about getting inside the mind of the executor. Most people know that probate investing is my favorite real estate niche of all. This group of sellers is very motivated to sell any property in the estate. Once you can understand the seller’s viewpoint, it’s easy to see that investors provide a much needed service to anyone settling an estate.

Who Is In Charge?

The terms executor and administrator are interchangeable. The term personal representative refers to either of the above. So what’s the difference?

The executor is named in the will by the deceased. In this case the deceased has specified who they want to be in charge of their estate. In the absence of a will the court will appoint an administrator. Both the executor and the administrator (also referred to as the PR or personal representative0 have the same duties and legal responsibilities. That person is the decision maker, so that is the person you ideally want to be in contact with regarding the sale of the property.

There are times however when one of the heirs will be the one to show you the property. This is generally because the personal representative isn’t available. Maybe they live out of town or they can’t be there for some other reason. This isn’t unusual, but you need to be aware that they cannot legally sell the property unless the heir is also the executor or administrator.

Get in the habit of asking the person contacting you if they are the executor. If they say no, ask what their relationship is (family member, heir etc.), and ask who the executor is and get their contact information.

The Typical Investor’s Mindset

If you ask the bulk of the investors out there why they aren’t working in probates, they will tell you that they feel uncomfortable since the property is being sold due to a death. Many will say they don’t know how to talk to those sellers; they don’t know what to say. Sometimes they will say probate investing is just plain “creepy”.

The truth of the matter is, these are just regular people that have a problem. They have an estate to settle that involves selling property. This whole process can be very confusing to the executor or administrator. They aren’t familiar with the terminology or the timelines. In addition to settling the estate, they have their own lives to get on with. They have jobs, families and other responsibilities. The last thing most of these people need is an unwanted property they have to sell. When you can show up as the expert, they will be so thankful for your help.

Once you understand your role and how you can help those folks selling the property, it’s easy to get inside the mind of the executor and understand how they feel and think.

Why do they put off Selling the Property?

There are two main reasons.

One is being overwhelmed. The executor is being pulled in a lot of different directions. Often times they just don’t know where to start. The other reason is all the “stuff” in the house. They have to decide how to dispose of all the personal belongings. I can tell you from experience that this is a gut wrenching experience.

Those were the deceased’s treasures. They were things they loved in many cases, but they have little if any value to the family. Family members will choose keepsakes, pictures and heirlooms and then there is … the rest of it. The family has to decide what to keep and what to dispose of. There can be a lot of guilt in the mind of the executor and the family members when it comes to disposing of personal belongings.

When you can step in and offer to finish this job for them you have just solved a huge problem for the executor and the heirs.

That is what investors bring to the table where estates are concerned. A solution to a problem that allows these folks to get on with their life.

Remember that in most cases they don’t want the property. They just want to sell it, settle the estate and move on. When you can help them do that, it changes everything for the seller. That’s why having a clear understanding of their viewpoint makes your job as an investor so much easier.

Finding Deals Through Probate & Eliminate Your Competition!

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By Jimmy V. Reed

No matter who and where I have taught, the Million Dollars question has always been “how do you find a Deal”? Cause folks, without a deal, its just real estate. It doesn’t matter what area of investing you are in whether its buying, selling, or holding, it will always comes down to the numbers and do they work. So my goal is to show you what I believe is one of my top five ways to get a deal, and that is probate.

Probate is a guaranteed source of real and personal assets. We don’t always like to talk about it but there are two certainties in life, death & taxes and both are involved in probate. Our objective is the real assets i.e. real estate property that usually through a death ends up in a situation where taxes are due. It has always amazed me that 70% of Americans do not even have a will. While the other 30% do they may still own it in their name which means it is still going to go to probate.

I always encourage other investors to hold real estate in some sort of entity to avoid the probate process. This is why my partner and I decided to create a how-to training book on finding deals through probate. Our program is “The Hidden Treasures and Profits of Probate” In this book we teach 7 ways to buy probates.

The basic process to them all is getting to the Executor before anyone else can. The Executor is the person in charge of probating the will. They actually are now the seller who must satisfy not only the will but also the taxes owed on the estate or on the property. Most people with a will usually make a big mistake by making a relative or a friend their Executor. This is where we come in as Problem Solvers.

We help them by buying the property at a cash discount. In doing so we solve the tax situation and take the property as is solving the problem of having to repair it so it can sell. I can only give you the basics here, but in our manual we go in step by step details for all 7 methods of buying probates.

Remember the basic process is getting in and tracking down the Executor, and then the inventory lists, then we get the contact info. Then it’s off to the tax office for the assets to be tracked down. From there we use our tracking form and pre written letters to start the initial process of making contact. Once contact is made we use our conversation form to ask the right questions. Once we have all our info its time to make an offer. Understand the main goal of the offer is to offer just enough cash out of pocket to satisfy the courts and any debts. We can get very creative on the purchase price, what matters to the Executor is getting the money owed for taxes and removing the problem from them to you.

I hope this can open your eyes to the possibilities of doing what others won’t, yet it is a very simple and easy process to do in the Probate arena. And most of all, out of the 4 million probates in the courts right now, you would be approximately one of only 5% of investors out there who are working them.

jimmy

Jimmy V. Reed

Jimmy V. Reed of Fort Worth, Texas has been investing in real estate since 1987. In 1991, he started conducting full-day training sessions on Wholesaling. He then began teaching and mentoring others throughout the country. He is currently the founder of the Fort Worth Real Estate Club www.1REclub.com and has his own real estate training company that includes Wholesale, Probate, Mentoring & a Biblically based Debt Free training course and more!

More info available at www.JimmyReed.net