PROBATE PROFITS ARE ALIVE AND WELL !

You have a lot of good information. Thanks for taking the time to keep this post going.

Steve

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Sherri,

I would be more than happy to accept this assignment since I am definitely interested in pursuing probates, but I haven't the foggiest idea of how to start and what to do after I start?????

Can you give me some direction please?

Karen

I KNOW I can't be the only one that caught a little humorous line in your last "serious" post.

Maybe I am and maybe I'm weird (like I've never been called THAT before) but something struck me as quite funny even in THAT post!

Just caught up with this thread. Probates are an awesome area to tap into. Its funny - without even knowing what they are my first two deals (flips) were probates. One off the MLS and one FSBO. Its true that there is alot more bargaining room due to the fact the families just want to be rid of them. In most cases they are stuck paying taxes and other costs for a home they dont want or need. Sherri - thanks for the heads up on this thread btw - how is the probate finder program working? Its automated, right?

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Thanks Sherri for the welcome, I'm looking forward to Probates being a profitable and adventurous REI...and your welcome for the "greenpreneur" term(though, I'm pretty sure I'm not the creator of it).

That is a fantastic approach to generate leads for Probate properties, your post on "Probate Leads From Funeral Homes, Cemeteries, Churches...." Like Karen I think I'll make this a homework assignment, as well. I'm with you, I think I'll focus my attention more specifally on Probate properties and solutions, it offers an excellent opportunity to be of service, in addition to being profitable. I like that as a primary objective, while bird dogging for short sales, as a secondary, and so on. I'm curious how are you determining the fee, is it a flat fee you are offering, or a variable?

I look forward to Dean's and Matt's ongoing input and inspiration, as well as other seasoned Probate REI's.

To this day I have never done a probate deal from direct mail (mailing letters to the people in charge of the estate).

My best probate deals came from?????????????????????

I Buy Houses ads in the newspaper, Bandit Signs and word of mouth.

I still mail letters twice a month to cover all my bases but the results speak for themselves.

Bandit signs flat out work, they have always worked, and they always will work. And they work in every city in the United States.

If you are not getting calls from your Bandit Signs you don't have them in the right area, you don't have them written correctly, or you don't have enough of them up.

Get it Done!

Matt Larson

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This must be the great info that Laura J was referring to in her journal - THANKS for sharing!! And I have to add that you have the best sense of humor! Good one about painting on a smiley face - you manage to do this often.

Lea

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when you paint your face yellow.

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LOL! I wouldn't be surprised at all if Laura comes back with a riveting testimonial along with a new property

Thanks again for sharing your knowledge and the chuckles

Lea

How funny to read you guys talking about me hahaha....I hope to get to the courthouse while here...but my Mom requires a lot more care than I realized at this point...so I may drag her and her walker down there with me for an "outing" lol....but anyway....here is the great info that Sherri so generously sent me on probate searches! So if anyone has any questions or comments about this fabulous new info please use this forum instead of pms so that everyone can read and benefit from the interactions!!!

Probate 101 by Sherri

Call first ... and ask where the REGISTRAR OF WILLS office is within the courthouse.

While on the phone, double-check if their database is automated online now (many are) !!!

Go there, and ask to browse the public records that deal with estates in probates.

They will want to know if you have a specific case number you're checking for (get a handful, in advance, if you can ... from the LEGAL NOTICES IN THE LOCAL NEWSPAPER)

Look them up - and just get familiar with the vast amount of information that is not private!!! Yikes!!!

In particular, I have learned to "cut to the chase" and go straight to find the form called SCHEDULE A
(but it might be called something different in each state)...

Here -- the "SCHEDULE A" tells you the dollar value of the real property at stake in the probate. (I have the AUDACITY to smirk at some of them !!! LOL)

But -- the truth is that there are just SO MANY that investors can pick and choose -- so why choose the least expensive ones? (There, I justified that rather nicely, didn't I?)

You can also learn what other debt the deceased had (that the court wants paid off) ... and in three of the ones I found today, the total was ZERO !!!

Houses owned free and clear. (This is not unusual since many folks who die are elderly, and their debts have not been exorbitant or foolishly ignored.)

MOST excellent info - thank you again Sherri! Run with this everyone!!!!

Hello Sherri,It seems like Probate is the in thing right now.Can you please tell me what it is, and how you go about it.Your help would be greatly appreciated.. Cecelia

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Thankyou(Mahalo) for the advice I will go through the forum. I appreciate that you have taken the time to start this thread on Probates and Profile.We all can glee and learn from others contributing on this forum.May You Have Great Success On Your Jouney!!!! Cecelia

After I posted my comment I read it I mention Probates and Profile dah it's Probate Profits.Excuse for the mistake.. Cecelia

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Aug. isn't over yet, less posting & more deal making action ! (lol)

New opportunities are awaiting you, Sherri!

Let the adventure begin!

Kim

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Sherri you've already helped me by leaps and bounds just from me reading the replys you've sent out to others in our beautiful DG family. I've read each and every one at one time or another and I've learned so much. Thanks so much.

Max

I would like to know if there are any probate investors currently in the Las Vegas area,and if so you are more welcomed to PM me.

To God Be The Glory From Whom All Blessings Flow,

Max

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Had 2 probate deals fall apart. The first one we had on contract for $6k and tried to renegotiate it lower, due to asbestos in basement. Sellers didn't want to take a lower selling price so we let it go.

2nd deal was a really nice house. Contract price was $17k, we had it ready to wholesale for $25k then lowered the price to $21k for an even faster sale. Many people didn't like the neighborhood even though the price was right for that particular house. Plus we found out that the electric was not updated upstairs, so that scared other serious investors away as well.

So we cancelled this contract too. Oh well on to the next.

The one thing good that came out from of this is that I found a way for myself (wholesalers) to market their deals on the MLS. A legal way that is. Its so ingenious. Now all my deals can be advertised to thousands there as well as my VIP buyers list. Without having to own the property.

To the new people out there, its not always about the deals and money, but what you learn from them. Remember that.

Jason B