Some real estate investors have found a profitable way to deal with the challenges of the housing shortage by finding a new source of leads.
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The real estate industry is changing. With more and more competition in the marketplace, challenges in getting a loan, and cautious homeowners staying put, it can be difficult to find property that you might be interested in purchasing for your real estate portfolio. Is there a solution? Is there a way to combat the real estate lead shortage that has permeated the industry and has stalled your efforts at investing?
A New Lead Source: Probates
Real estate investors have limited options when facing a market like this. Some investors have moved on to other business opportunities, while others are struggling to find success with their same business model. But, some real estate investors have found a profitable way to deal with the challenges of the housing shortage by finding a new source of leads.
Properties owned as part of a probate are widely available and can often be purchased for well less than comparable homes in the area. In fact, there are an estimated 60,000 probates entering the market each month throughout the United States.
Probate properties are any properties that were previously owned by an individual who has passed away. The local court then appoints an Executor or Personal Representative to ensure that the deceased’s property is properly distributed among debtors and heirs.
Probates Provide Motivated Sellers
Once you start working in probates you will understand why Executors are often motivated to sell their properties quickly and for substantially less than current market values. Each Executor is responsible to the court to ensure that the deceased’s assets are first used to meet financial obligations, then to provide an inheritance to the individual’s heirs.
Executors not only feel the pressure to sell because of the court, but they often want to sell for their own convenience. Most often, the Executor is a family member who has no experience settling an estate. They may even live out of state and feel that preparing a home for market is impossible. Executors typically have nothing invested in the home, so any money they make is considered a bonus. All of these conditions provide the opportunity for homes and other properties to be purchased for a fraction of the current market value.
Finding Probate Leads
Now that you understand the value of having access to probate properties in this challenging economy, you may be wondering how to get access to them. Many individuals who are starting a probate business decide that going to the local courthouse is the best way to look for opportunities in their area, but soon realize that this can be too time consuming.
There is a better way. By using a professional probate-lead service, you can have up-to-date information and leads delivered right to your email inbox. With no more trips to the courthouse, no time wasted looking at complex filings, you will have more time to go out and evaluate properties and opportunities. Unlike traditional leads in the current real estate market, there are thousands of options for probate purchases every day.
Build a Vibrant Real Estate Investment Business with Probates
Having access to leads on a regular basis means that you will be able to find success in probate real estate investing. With time, patience, and a carefully thought out business plan, you can be sure that having these leads will make an enormous difference in your ability to purchase homes and other properties at a favorable price. The variety and opportunity with probates is endless because there is always a supply of leads available.