| PROBATE INVESTMENT - A DIFFERENT KIND OF | | | | checked by anyone at the local courthouse or other |
| REAL ESTATE INVESTMENTS | | | | government agencies. |
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| When someone passes away and their heirs inherit | | | | The great prices are the number one benefit of buying |
| their personal property, which includes their house or | | | | and investing in probate properties. Prices for some |
| any real estate, this is what probate deals with. Many | | | | of these properties can be as low as 30 to 40 |
| times, in order to settle an estate, these heirs are highly | | | | percent below market value. Another benefit would |
| motivated to sell the property fast and sometimes at a | | | | be the big inventory, the bad news is that we all die, |
| huge discount because they themselves already have | | | | and the good news is that there will always be plenty |
| a home and do not want another house payment. | | | | of probate housing for investments. |
| The term probate is derived from the Latin word | | | | |
| "Probatum" which means "prove." So the word | | | | And of course it's a buyers market, many beneficiaries |
| probate is a legal process to which the will is proven | | | | don't really want to inherit property they simply want |
| valid. | | | | cash from the sale of the property, even if it's below |
| | | | | market value. They do not want the responsibility of |
| If you want to earn huge returns on your money in a | | | | a mortgage payment, estate taxes, repairs, |
| short period of time, then working in probate investing | | | | maintenance, and so forth that comes along with |
| will help you do just that. | | | | owning an extra property. |
| | | | | Sometimes, if you are not working with a real estate |
| It is human nature that when a loved one dies, and | | | | agent, you can find probate housing on your own by |
| their inheritance goes into probate, they want to sell it | | | | looking in the newspapers and the public records and |
| fast and they would not be concerned about getting | | | | using a simple letter to the heirs of the property stating |
| the most money for the property and sometimes the | | | | your wishes to take it off their hands for them. You |
| contents inside. That is where a probate investor can | | | | must work this letter carefully so that they want to sell |
| make their money. They can offer the persons who | | | | and as not to offend them in their time of sorrow. |
| inherited the property a lump sum amount of money | | | | |
| for both the property and everything in it. This lump | | | | It's best to approach the family who inherited the piece |
| sum of money is a fair value. Then you as a probate | | | | of property directly rather than go through a lawyer |
| investor can turn around and sell everything in the | | | | because a lawyer, just as a real estate agent, adds |
| house at a flea market or garage or estate sale; and | | | | fees which takes out of your profit when you go to |
| sell the house itself for more than you paid for it, | | | | resell the investment property. |
| making a profit of at least 30 to 40 percent | | | | |
| sometimes more depending on the area and the | | | | Many people who inherit a loved one's piece of |
| house itself. | | | | property with all its contents do not want to deal with |
| | | | | having to separate out all the contents and then sell |
| Finding probate estate properties can sometimes be | | | | the contents along with selling the house itself. Let's |
| hard to find but if you know where to look it becomes | | | | face it, while some things may have sentimental value, |
| easier. The first place to look is with the real estate | | | | most would agree that it is not practical or desirable to |
| agents. Contact a real estate agent or several and | | | | keep everything. Additionally, money can be made by |
| let them know you are in the market for probate | | | | selling the content. You can hold an estate sale. |
| estates. Let them know exactly how much and | | | | Depending on how good the contents are inside, you |
| what type of houses you are looking at. | | | | may end up with a garage sale. If the contents are |
| | | | | desirable, another investor may come by and want to |
| Another great place to look is the newspaper. It may | | | | purchase the entire lot -- the contents and the house -- |
| seem morbid but look in the obituary section and then | | | | for a price that would net a healthy profit. Probate |
| check the local property records to determine if the | | | | investment is all about finding a probate home, |
| deceased owned any properties. Matching the | | | | purchasing it for the bare minimum, then turning around |
| deceased with the property is really only common | | | | and selling it at 30 to 40 percent higher than the |
| sense and cuts out the real estate agent commission. | | | | market value…or more. |
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| Yet another place to look is the estate executor. As | | | | SBe sure to check out this Youtube VIDEO!!..... |
| a matter of public record, wills in probate can be | | | | |