Top 5 reasons to diversify your real estate investing into probate investing.
1. Motivated Sellers Real estate investors are looking for people that need to sell property quickly. Not all Properties that get left to inheritances that want to sell quickly, but those that do will want to dispose of the property very quickly. I picked up a property that was 1 week from going to auction. They were highly motivated. In addition, there are a lot of properties where the new owners live out of state. 2. Buy at Deep Discounts Properties can be picked up at steep discounts. Again, motivated sellers are willing to receive a steep discount for the properties. If the people in the estate have no interest in moving into the property, they are racking up bills, which lowers their inheritance. Keep in mind a lot of these properties will have a mortgage. 3. Open to non-traditional financing On some occasions you will find people open to alternative financing. This is a little more rare but if the property is owned free and clear the new owners may like to get 4%-6% interest on their money. Once you find out if the property is owned free and clear, always lead off with this offer. 4. Little competition That’s right. There are not a lot of competitors for houses in probate. First off, they are not in the MLS. This eliminates a ton of competition for the property. Not only that, but most investors don’t know how to go about finding the right person to contact selling the property. 5. Needs help Sellers often need help taking care of the property. These homes are going to be full of their parent’s belongings. Here’s where you can make a difference. First, find a local probate attorney and start building a relationship with them. In you r marketing letter, you will want to offer services that make it easier for them. Attorney services are a key component to differentiate you from your competitors. In review, adding probate investing to your marketing efforts can pay off tremendously. Like any other activity, what you put in is what you get out. Keep your marketing strategy consistent. Probate leads
need to be dripped on for 12-18 months. We suggest sending out a piece every month for the 18 months. You never know where the estate is in the process of selling the assets. Itâ€™s up to you to make it easy for them to do business with you. If you are looking for motivated sellers that are looking to dump a property quickly start finding properties in Probate.