STRATEGY
LOOK TO PROBATE
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When You Can’t Find Real Estate Leads, Look to Probate!
by Kristine Gentry, Ph.D
T
he real estate industry is changing. With more and more
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 in- vestors 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 prop- erties that were previously owned
by an individual who has passed away. The local court then appoints an Executor or Personal Represen- tative to ensure that the deceased’s property is properly distributed among debtors and heirs.
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 purchas- ing 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?
PROBATES PROVIDE MOTIVATED SELLERS
Once you start working in pro- bates 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
A NEWLEAD SOURCE: PROBATES
Real estate investors have limited options when facing a market like
70 | think realty magazine :: may / june 2019
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