How To Make Money Investing In Probate Real Estate

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One of the most profitable deals in real estate investing is buying and selling probate leads, or buying houses from people that have inherited property.

This article will help you target your leads better and make more money from probate properties. Buying and selling inherited properties, or probate leads is one of the most profitable ways of making money in real estate investing.



This article guides you how to target your marketing and investing better to make money with inherited properties.



Most inherited properties have outstanding problems such as mortgage payments or repairs. These people are looking to sell the house fast especially if it has an outstanding mortgage.



If there is no mortgage, chances are repairs needed cannot allow them to sell it on the open market. These sellers are therefore very motivated.



Probate properties are most likely to make you more money than other deals.



How to target probate sellers.



1) Check county records for probates

The easiest way is to go to your local courthouse periodically and take notes or copy details of all probate filings. In my local market, this information is available online. But the information is still available to the public from the local county courthouses.



You will need to note down the deceased, the executor (trustee or administrator)of the probate.



The deceased might still have property listed in their names in the county records, or in the estate name, such as John Doe Estate.



The trustee is the one who will be handling the probate on behalf of the beneficiaries. The beneficiaries are the inheritors and may be looking to sell the inherited property.



I always check the county court records to make sure they own real estate before sending them letters.



2) Send letters

People who have lost loved ones are delicate emotionally. I usually express my sympathy in my letters and mention when the time comes when they are ready to sell real estate, I would be a willing buyer.



I send them a series of letters for 6 months because the probate process can take long. I stop sending them follow-ups if they have not responded within 6 months.



Of course as always, I give them prominent link to my website and a phone number. The idea is to have them submit this information on the website instead of a phone call so I get it pre-screened and pre-negotiated.



Check for a source of a good website at the end of this article.



They are most likely to contact you through the website or call you when they are ready to sell. The rest is easy.



3) Sign a purchase contract

Sign a regular purchase and sale agreement when they are ready to sell. Get this contract to your title company so they can prepare for closing and title work.



The title company is familiar with closing probate properties. They will prepare and execute all the necessary affidavits and paperwork for you with the beneficiaries and executor so you will just need to go to closing.



You can then flip this property to another real estate investor if you want to wholesale the deal. This subject has been covered by the same author in other articles.


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