Real Estate Investing Course: Comprehensive Guide to Finding Probate Leads in Your Area
For real estate investors, probate leads can help you market your property in an effective manner. In a nutshell, probate leads give savvy investors the potential to score attractive profit margins on deals. Investors who can find probate deals have a huge advantage over those who don’t. It’s what every real estate investing course should teach future investors.
So what are probate deals and how do they work? We explain it all.
Probate Real Estate Leads
First, we got to understand what the term probate means. It is a legal process that is commonly employed to find out whether a will is authentic and valid, or not. Sounds simple enough right?
Now, when we use the definition of probate in terms of real estate, the meaning becomes slightly different. In the real estate industry, probate refers to the legal process where all the liabilities of a deceased person who owns a property are settled, before the title of the said property is formally passed to the rightful heirs.
It should be mentioned that most heirs that find themselves in such a situation are willing to sell their property rather than keep it with them. This, essentially, is how probate leads work – with heirs wanting to sell the house that was bequeathed to them as part of a will rather than keep it.
How Probate Leads Work
For good real estate agents, probate leads are not that hard coming by. It is only folks who may be new to the world of real estate investing, who will face issues in encountering probate leads.
As your real estate investing course may have taught you, the probate process can be broken down into these steps:
- Learn to familiarize yourself with how the probate process works. Also, make sure you check individual state laws.
- Find a list of properties whose owners serve as probate leads.
- Build and develop a comprehensive marketing campaign that will target the list of probate leads you acquired.
- Invest in automating this process so that you can make use of it again in the future.
For the first step mentioned above, here’s how you can find probate leads. First, ensure that you are fairly educated with the probate lead process. The more knowledge you have, the better. Your research can help raise your chances of success. In order to do that, study the laws pertaining to the state you will be procuring the property from. Learn how probates are filed, and how long can they take in the execution stage. These things give you a better idea during the acquisition phase.
For the next step, you will be paying a visit to your local courthouse. This is probably the best place for you to get probate leads. Since these leads are part of the public record, you need to find information pertaining to them at the courthouse in the neighborhood where you are looking to invest in a property. Now, if you followed the first step, you will know what to look for and how to convert it into a working probate lead. Make sure you ask a clerk around to find you the information you need.
You can also get information about available probate leads by buying a list. These lists can be found via a Google search. In fact, trusted list suppliers are easy enough to find online. However, keep in mind that these lists may run the risk of hosting outdated information. Plus your competition may also have access to the same information you do.
By now you may have all the information you need to chase down probate leads. This is probably the time where you will have to design a marketing campaign that ensures that you get in touch with the owners of the property. Many a real estate investing course states that you can direct mail campaigns can help you get connected with the heirs of properties. A good rule of thumb is to be empathic in your communication. After all, they recently came into a piece of property that they’d rather dispose off without any hassles. In fact, you should consider engaging with them by mentioning that you can solve their issue and help them get rid of a problem that they’d rather not get into. This can be anything from impending tax implications, to taking it off their hands.
Consider checking out real estate probate leads. They can make all the difference between a good real estate agent and a better one.