If you want to make money investing in real estate you might want to start off by investing in probate houses. If you invest in homes that are in probate you can make a lot of money because the people who own these homes typically want to sell them quickly so they don’t have to deal with them anymore. Houses that are in probate are not going to be the primary house of the person and they are often not going to want to deal with a second home. This means they are going to be more motivated to sell and you can often get the home for a great price.
Benefits of Investing In Probate Houses
One of the hardest parts of investing in a probate property is finding the right property to invest in. These properties can be hard to find and you have to find out who is in probate and find the Foreclosures Daily to contact. The best idea is to buy a list of people who are going through probate as this is going to save you time and you won’t have to do all of the research yourself. You can save time and money this way and the process is going to be a lot easier.
You can also do the research yourself by reading newspaper announcements and looking through court records. Once you have a list of people who are in probate you are going to want to wait a while before you start to contact the new owners because you don’t want to be to forward with people when they are grieving. You need to wait at least a month before you approach anyone who has just lost a loved one.
You can reach out with a letter and then send another follow up letter after a week. You can also go ahead and call, but don’t be pushy. If the person is interested in selling the house they will let you know right away and give you an opportunity to make an offer. Many times the people do not want to have to spend a lot of money to make repairs and other fixes on the home and they just want to sell it right away.
The seller might also be feeling overwhelmed and stressed out so you should make it easy for them to sell the house. You could also offer to help them clean it out or you could offer to dispose of all of the old furniture for them. It is important to make the process as easy as possible so the potential seller has to do the least work as possible.
When you make it easy for them they are going to be more likely to want to sell the home and you can get the sale and start to gain experience. Probate properties are often easier to sell because the owner doesn’t want to have to deal with two different properties. You are going to have an easier time buying a probate property.