Tim Randle of REIClub.com here with a very interesting, low competition, real estate niche for your consideration. Take 3 minutes to consider if it’s right for you…
Know anything about probate?
Ever been through one?
Do you know it may be the most lucrative source of real estate deals?
Probate, plain and simple, is the legal process of settling the debts and distributing the assets of a deceased person.
No will – probate required. Will – probate required.
The only way to avoid probate is by putting your assets in Trusts. (And you really, really, really should do that. Saves lots of time and money. Most people don’t though).
Here are some facts you should know:
(Side note: You won’t need to become a lawyer, or even deal with lawyers to work this market)
Homeownership facts:
TAKE AWAY: About 80% of people 65+ years old own real estate and nearly three in four (72%) own it free and clear.
Probate facts:
TAKE AWAY: Probates are increasing significantly because the over 60 population is increasing significantly.
Probate versus Pre-Foreclosure / Short Sale
Market
Probate – 3 – 3.6 million properties a year and rising.
(data from American Association of Retired Persons (AARP) study)
Foreclosure – 2.9 million properties received foreclosure filings in 2010. Foreclosures are now trending down, December, 2010 was the lowest number in 30 months.
(data from RealtyTrac)
Competition:
Probate – Do you know ANYONE working this niche? Is the market flooded with gurus? I just searched “probate real estate course” on Google – 1,210,000 results.
Seller Motivation:
Probate – The seller(s) in a probate case are heirs. They just inherited a vacant house that’s a burden – property taxes, insurance, upkeep, possibly vandalism and maybe a mortgage. Frequently they don’t even live nearby so tending to any on-site issues is a real hassle. They’re very motivated to convert that property to cash, which to them is found money.
Foreclosure – Homeowners are not motivated to leave. They’re often hanging on or at best, not cooperative. They’re attached to the property, they’ve put money it, they may be attached to the location, might have kids in school, and often, they don’t have somewhere as nice to go. There’s also the lender to deal with. Short sales and foreclosures can be antagonistic and drag on.
TAKE AWAY: The Probate niche is a bigger market (and growing), with significantly less competition and much more motivated sellers.
Bottom line:
With probates you have motivated sellers with nothing to lose. They’re willing to sell the property for 30-50% below market value to someone who will take it off their hands.
What can you do with a sharply discounted property? You can…
– Wholesale it
– Retail it
– Buy and hold it in your rental portfolio
The important part is you acquire it at a significant discount.
Are You Interested Now?
This is what I have for you…
… Three interviews with Probate experts. Guys who stumbled onto this market years ago and have been quietly milking it… through the go-go years and the hard times years, they keep humming along. And they never run out of deals in this market.
None of them are lawyers. Average guys who reveal exactly how they work this market.
Grab these three how-to interviews and work this proven (and growing) market in your own back yard and profit…
– Download Sample files “Eric Stevens, Ernie Vargas and Ron Mead – Probate Interviews”
Course Requirement: Eric Stevens, Ernie Vargas and Ron Mead – Probate Interviews
Real Value: $50
One time cost: USD 22
Our support staff is the best by far! please do not hesitate to contact us at email: [email protected] and we’ll be happy to help!
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