Lawyer – Legal – Attorney

PROBATE INVESTMENT – A DIFFERENT KIND OF REAL ESTATE INVESTMENTS

 

When someone passes away and their heirs inherit their personal property, which includes their house or any real estate, this is what probate deals with.  Many times, in order to settle an estate, these heirs are highly motivated to sell the property fast and sometimes at a huge discount because they themselves already have a home and do not want another house payment.

The term probate is derived from the Latin word “Probatum” which means “prove.”  So the word probate is a legal process to which the will is proven valid.

 

If you want to earn huge returns on your money in a short period of time, then working in probate investing will help you do just that.

 

It is human nature that when a loved one dies, and their inheritance goes into probate, they want to sell it fast and they would not be concerned about getting the most money for the property and sometimes the contents inside.  That is where a probate investor can make their money.  They can offer the persons who inherited the property a lump sum amount of money for both the property and everything in it.  This lump sum of money is a fair value.  Then you as a probate investor can turn around and sell everything in the house at a flea market or garage or estate sale; and sell the house itself for more than you paid for it, making a profit of at least 30 to 40 percent sometimes more depending on the area and the house itself.

  

Finding probate estate properties can sometimes be hard to find but if you know where to look it becomes easier.  The first place to look is with the real estate agents.  Contact a real estate agent or several and let them know you are in the market for probate estates.  Let them know exactly how much and what type of houses you are looking at.

 

Another great place to look is the newspaper.  It may seem morbid but look in the obituary section and then check the local property records to determine if the deceased owned any properties.  Matching the deceased with the property is really only common sense and cuts out the real estate agent commission.

 

Yet another place to look is the estate executor.  As a matter of public record, wills in probate can be checked by anyone at the local courthouse or other government agencies.

 

The great prices are the number one benefit of buying and investing in probate properties.  Prices for some of these properties can be as low as 30 to 40 percent below market value.  Another benefit would be the big inventory, the bad news is that we all die, and the good news is that there will always be plenty of probate housing for investments.

  

And of course it’s a buyers market, many beneficiaries don’t really want to inherit property they simply want cash from the sale of the property, even if it’s below market value.  They do not want the responsibility of a mortgage payment, estate taxes, repairs, maintenance, and so forth that comes along with owning an extra property.

Sometimes, if you are not working with a real estate agent, you can find probate housing on your own by looking in the newspapers and the public records and using a simple letter to the heirs of the property stating your wishes to take it off their hands for them.  You must work this letter carefully so that they want to sell and as not to offend them in their time of sorrow.

 

It’s best to approach the family who inherited the piece of property directly rather than go through a lawyer because a lawyer, just as a real estate agent, adds fees which takes out of your profit when you go to resell the investment property.

 

Many people who inherit a loved one’s piece of property with all its contents do not want to deal with having to separate out all the contents and then sell the contents along with selling the house itself.  Let’s face it, while some things may have sentimental value, most would agree that it is not practical or desirable to keep everything.  Additionally, money can be made by selling the content.  You can hold an estate sale.  Depending on how good the contents are inside, you may end up with a garage sale.  If the contents are desirable, another investor may come by and want to purchase the entire lot — the contents and the house — for a price that would net a healthy profit.  Probate investment is all about finding a probate home, purchasing it for the bare minimum, then turning around and selling it at 30 to 40 percent higher than the market value…or more.

  www.probatepower.com

SBe sure to check out this Youtube VIDEO!!…..

http://www.youtube.com/watch?v=ASjEDkxlX88

 

I am a Successful Probate Investor from Lancaster, Pa. and I am currently selling a Probate Investing Course

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