The Fast, Easy, Simple and Profitable Way to Wealth
Do you want a ready-made market of motivated sellers who often sell at a deep discount — a market where you’ll have little to no competition at all? Probate real estate investing is the easiest and fastest way to find deals and a get check. I think it’s an ideal way for the beginning investor to make money when you combine this with the concept of “quick turning.”
WHAT IS PROBATE?
Probate: is the official proving of a will authentic or valid in a probate court
When a person dies, their estate – all their worldly belongings – often goes into probate court, where a judge appoints a Personal Representative (a.k.a PR ( Executor)) to oversee its administration. It is the PR’s job to make sure that the belongings are divided fairly and according to the decedent’s wishes. Depending on the state, the judge may also give the PR different levels of power.
Probate is the process of distributing the assets of an estate after the creditors have been satisfied. One of the primary functions of probate is to transfer the title of the decedent’s property to its proper heirs. Of course, the government wants the estate to pay any taxes that the deceased still owes first.
After the expenses are paid once all the decedent’s property is sold, the people who have inherited anything from the person who died, divide up the remaining money.
However, what often happens is attorneys get involved and then the process becomes complicated and expensive.
Why Are The Owners Of Probate Property So Motivated?
In many cases, when an heir inherits property, they inherit a burden. There are estate taxes to be paid, repairs that must be made, in some cases, a mortgage or second mortgage must be kept up to date. Add in the fact that there are often multiple ‘owners’, and many of them may live far away, and you have a situation where selling the house is the best, and sometimes the only option to make sure that everyone gets their fair share of the estate. Ready cash may be more important to them than any other factor. People who inherit the estate want the money and not the house, they will often take a quick sale at a discounted price.
There are some other reasons why I love probate investing…
It’s one of the easiest ways to find properties at less than 70% of market value, do a little fix-up and sell at market value; you will make lots of money.
The other reasons:
Little Seller Resistance Very Easy and Simple High Response Rate
Are you starting to see why probate properties are so attractive?