In my Probate Real Estate system as I mentioned in the last blog I always approach the estate as a buyer or representing a buyer (investor). As a Probate Agent I can earn from the wholesale purchase and flip and this will get you in front of the executor who is looking to sell because you offer a quick (30 day), As Is (no work) and easy sale process (Cash). Cash doesn't mean you are bringing All Cash to the table just that the estate is not being asked to carry and notes. You can use hard money loans where some companies will place the entire purchase price up for some fee's and a piece of the profit. This means you can do this yourself without any of your own money in the transaction. I can even arrange for the fix up money from the hard money lender.
With the probate home process I have been working for the last 23 years, once I make the pitch for a wholesale purchase and the estate is thinking about it I also started looking for a end user (retail) buyer. This is for two reasons. If the estate takes my offer I will have a buyer lined up before I close to purchase and we will limit our holding time and save money. The 2nd reason is if the estate won't take my wholesale offer I will place this buyer as the primary buyer and work a higher net sale to the estate acting as the agent between the buyer and seller. I double end this sale and earn from 4-6% depending on the deal. This is called my Level 2 Probate Income opportunity and will happen more times then the flips. Over the past several years (2007 to present) I have looked for this scenario more as the flipping process was risky with the price downturn. This Level 2 has kept my probates flowing and income up.
It's a very simple process working the 5 levels of income opportunity with Probate Homes as we just flow from Level 1 thru 5 until we earn. Once we are on a estate who wants to sell we are most likely going to earn. We don't care if it's a flip or just a listing or sale at the over bid process we just want to earn. We make everything Win Win for both buyer and seller. On my wholesale estate deals the estate knows the retail value verse selling wholesale (I explain) and the choice is theirs.
Probates have been a great niche for me over the last 23 years as both an Probate Investor an Probate Agent and I'm sharing the system now. Many of you have taken advantage this year with great results. Call me now to discuss how you can add Probates to your 2011 business plan and be up and running in 2 weeks...
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