Probate Investing

Probate is absolutely the easiest and most profitable niche market for real estate investing today. With limited competition, highly motivated sellers, and great exit flexibility, probate offers tremendous opportunities to investors who take advantage. It is a market worth every investor’s time.

Although probate is a very sensitive matter, you should by no means be at all timid in putting your foot in the door. Many inheritors need an investor’s assistance to bail them out of receiving an unmanageable property. So take the initiative to go to the courthouse and find out who needs your help today by collecting the most recently opened probate listings. Only the most successful probate investors take the time to do so and avoid newspaper lists.

Once you collect your probate leads, use an effective direct mail marketing strategy that includes personalization, heartfelt letters, and a consistent follow-up procedure. In your letters, you should state both the PR and the deceased by their full name, as well as express condolences and ways to help, such as fast cash, fast closing, and fast relief. As with all other marketing campaigns, use unique handwritten envelopes, post office stamps, and conspicuous contact material such as a business card. Most importantly, always, always, always, follow up, follow up, follow up.

When you make first contact with the personal representative, collect as much information as you can from him/her. In addition to an After-repaired Value and repair estimate, learn about the executor’s involvement with the property to gain a perspective on his motivation to sell. Then factor in an appropriate investor profit according to the property’s market and make an immediate offer. Upon acceptance, put the property under contract with specific clauses that allow you to exit however you choose.