I'm sure the thought has crossed your mind as to how the current economic conditions are affecting the Probate Real Estate market. More specifically, does the glut of foreclosures mean good Probate deals have gone away?
My answer is ... absolutely not! As a matter of fact, it definitely helps.
With prices dropping, the estates inheriting the properties are becoming preconditioned. Because of the lowering of prices, they know they are going to have to accept less. When you submit an offer at 60%-70% of market value, they are way more likely to accept it.
That makes "right now" an excellent time to be working fast and furious in Probate. The sun is shining on Probate investors.
Want some proof? Let me tell you a story.
A few months ago, the "Darling Bride Sharon" received a call from a gentleman in Texas who was interested in probate real estate. I got him pointed in the right direction and told him exactly what he needed to do and to keep us informed of his progress. We never heard from our Texas friend again ... until earlier this year.
Then we got an email from our Texas buddy, Tommie, and he outlined what he had been doing in the past six months. My jaw dropped open. I couldn't believe what I was reading. The boy is a house-a-fire! He is rollin'.
Tommie's activity level and accomplishments were so impressive, I called him that same day and asked if I could retell his story. He said, "boy howdy, that was OK with him. Why did I want to use it?"
I told him I was going to use it for inspiration for all of you who have not started your probate real estate career or who are are still thinking now's not the right time to invest in Probate real estate.
Tommie relayed the following to me:
"I thought that I would let you know how I was doing so far with my Probate deals. I have enjoyed reading the two books plus listening to the CD that came with it.
Well, I have purchased five mobile homes at a very low price at $500.00 ea. Cleaned and repaired the floors, had the wiring checked out. I have made $5000.00 each. Not bad for six months worth of work. Also I have taken that money and purchased two probate homes at $5000.00 ea. Sold them for a grand total $80,000 together for the market area here is at a low.
I have bought one and a half acres for $3,000 from a lady who lives in NC. Had it cleaned up, put a mobile home on it and spent about $8,000 on other things and sold that for $65,000. The way I found this was the title companies here in Marlin, Texas. They where so nice in helping me getting this property.
I enjoy reading your emails they help pass the time at work. I'm really happy buying and selling these properties. My brother thought I was crazy that I started doing this type of work which I'm doing part time and on my days off. I work evenings from 3:30pm to midnight Saturday to Wednesday, off Thursday Friday. I'm a ward clerk for the VA Hospital.
Well I got work here to do better go now, have fun please keep sending the emails. Thanks Tommie"
Do you see what Tommie has accomplished in just six short months? Do you realize he lives in a small town in East-Central Texas where the opportunities are somewhat limited? Can you see how he has used his probate knowledge and training to work in an adjacent segment of the market? Can you see how he maximized his resources and his resourcefulness? Did you notice he kept his full time job while working his Real Estate investing?
And he did it all without ever emailing me one question! This gentleman is the perfect template on how to get started in real estate investing. Tommie B ... I salute you! You are my hero! You are the exact reason I write my books. I am honored to have played a small part in your success. Keep up the good work, buddy!
So that's my motivation for you for today, folks. Just shows you the Probate deals are everywhere ... and the "time right now" is EXACTLY "the right time!"
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Ron Mead, The Probate Guy, has been specializing in Probate Real Estate for the past 13 years. His #1 rated Probate Real Estate course, "31 Days to Profit in Probate Real Estate," shows you how to tap into this lucrative and little known real estate market filled with "motivated sellers." Subscribe to Ron's free report, "Probate Real Estate: The Untapped Market" at =>
http://www.BuyProbateProperty.com
