How to Get Started in Probate Real Estate
I'm sure the thought has crossed your mind as to how the current economic conditions are affecting the Probate Real Estate market.
More specifically, does the glut of foreclosures mean good Probate deals have gone away? My answer is ...
absolutely not! A depressed real estate market is the perfect time to be investing.
With prices dropping, the estates inheriting the properties are becoming preconditioned.
Because of the lowering of prices, they know they are going to have to accept less.
When you submit an offer at 60%-70% of market value, they are way more likely to accept it.
That makes "right now" an excellent time to be working fast and furious in Probate.
The sun is shining on Probate investors.
Want some proof? Let me tell you a story.
A few months ago, I talked to a gentleman in Texas who was interested in buying real estate out of Probate.
I got him pointed in the right direction and told him exactly what he needed to do and to keep us informed of his progress.
We never heard from our Texas friend again ...
until earlier this year.
Here is an example of what you can do in this niche.
This should be inspiration for all of you who are are still thinking now's not the right time to invest in Probate real estate.
Tommie bought five mobile homes at a very low price of $500.
00 ea.
He cleaned and repaired the floors, had the wiring checked out and did a couple of other minor cosmetic repairs.
He sold them and made $5000.
00 each.
Not bad for six months worth of work.
He took that money and purchased two more Probate homes at $5000.
00 ea.
He sold the both of them for a grand total of $80,000.
He then bought one and a half acres (out of Probate) for $3,000 from a lady who lives in NC (remember, he lives in Texas).
Had it cleaned up, put a mobile home on it and spent about $8,000 on other things and sold that for $65,000.
Tommie was finding these Probate properties following my probate system and working with a title company in his small home town in Texas.
And he did all this on his days off while still working his regular full time job.
Do you see what Tommie has accomplished in just six short months? Do you realize he lives in a small town in East-Central Texas where the opportunities are somewhat limited? Can you see how he has used his probate knowledge and training to work in an adjacent segment of the market? Can you see how he maximized his resources and his resourcefulness? Did you notice he kept his full time job while working his Real Estate investing? So that's my motivation for you for today, folks.
Just shows you the Probate deals are everywhere ...
and the "time right now" is EXACTLY "the right time!"
More specifically, does the glut of foreclosures mean good Probate deals have gone away? My answer is ...
absolutely not! A depressed real estate market is the perfect time to be investing.
With prices dropping, the estates inheriting the properties are becoming preconditioned.
Because of the lowering of prices, they know they are going to have to accept less.
When you submit an offer at 60%-70% of market value, they are way more likely to accept it.
That makes "right now" an excellent time to be working fast and furious in Probate.
The sun is shining on Probate investors.
Want some proof? Let me tell you a story.
A few months ago, I talked to a gentleman in Texas who was interested in buying real estate out of Probate.
I got him pointed in the right direction and told him exactly what he needed to do and to keep us informed of his progress.
We never heard from our Texas friend again ...
until earlier this year.
Here is an example of what you can do in this niche.
This should be inspiration for all of you who are are still thinking now's not the right time to invest in Probate real estate.
Tommie bought five mobile homes at a very low price of $500.
00 ea.
He cleaned and repaired the floors, had the wiring checked out and did a couple of other minor cosmetic repairs.
He sold them and made $5000.
00 each.
Not bad for six months worth of work.
He took that money and purchased two more Probate homes at $5000.
00 ea.
He sold the both of them for a grand total of $80,000.
He then bought one and a half acres (out of Probate) for $3,000 from a lady who lives in NC (remember, he lives in Texas).
Had it cleaned up, put a mobile home on it and spent about $8,000 on other things and sold that for $65,000.
Tommie was finding these Probate properties following my probate system and working with a title company in his small home town in Texas.
And he did all this on his days off while still working his regular full time job.
Do you see what Tommie has accomplished in just six short months? Do you realize he lives in a small town in East-Central Texas where the opportunities are somewhat limited? Can you see how he has used his probate knowledge and training to work in an adjacent segment of the market? Can you see how he maximized his resources and his resourcefulness? Did you notice he kept his full time job while working his Real Estate investing? So that's my motivation for you for today, folks.
Just shows you the Probate deals are everywhere ...
and the "time right now" is EXACTLY "the right time!"
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