How To Earn Cash In Real Estate Investing With 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. ost probate properties are either in needs of repairs or they have outstanding mortgages, making them problematic to the beneficiaries. These people are motivated sellers especially if they have to make mortgage payments to keep them. If there is no mortgage, chances are repairs needed cannot allow them to sell it on the open market. This makes these sellers quite 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 area, I can access this information 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 properties might still be recorded under the name of the deceased, or in the name of the estate, such as John Doe Estate. The trustee administers the probate on behalf of the beneficiaries. The beneficiaries are the inheritors and may be looking to sell the inherited property. Always verify if they own real estate from the county records. 2)  Send letters People are emotionally delicate after losing loved ones. 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. Since the probate process can be lengthy, I send them a series of letters for 6 months. If they have not contacted me within this time I stop sending them. Of course, I make sure my real estate investor website is prominent in my letters. I also give them a phone number to call. 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. There is a good real estate investor website recommended 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 knows the closing process with 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. If you wholesale property, then this might be a good time to get a wholesale buyer to flip your property to. This process is covered in other articles from the same author. Simon Macharia is a real estate investor who buys and sells houses in Texas. Learn how you can run your real estate investing business and automate it from an interactive real estate investor website from http://www.RealEstateInvestorsWebsites.net