Last time, I revealed tips for maximizing your profit on preforeclosure homes. Once you know the techniques for finding them, you’re on your way to making astonishing profits – in just a few hours a week and with almost no cash outlay of your own.
Today, I want to tell you about an additional way you can make tens of thousands of dollars in profits per deal. When you use this approach together with my method for pre foreclosure investing, you can easily make double the money – and still in just a few hours a week!
I’m talking about probate homes. They offer an exciting opportunity for those who are new to real estate investing, as well as to those who are more experienced and would like to supplement their pre foreclosure earnings.
Don’t be put off by the legal-sounding term, “probate.” A probate home is simply a home that is part of an inheritance. Many people who inherit a house don’t want or need it, and want to sell it as quickly as possible so that they can get their inheritance money. AND – they are often willing to sell the probate home at a huge discount just to get rid of it.
You may be thinking, “But Lance, don’t probate homes involve a lot of red tape?” The truth is, probate investing is much easier than you might think. Keep reading.
Probate home investing is as simple as preforeclosure investing. It gives you the same opportunities to buy at a deep discount, or to flip with almost zero cash outlay.
Why else are probate homes a good way to start making easy profits?
You’ll have less competition with other investors. Many investors avoid probate properties because they misunderstand what a probate house actually is. Because of the red tape that is mistakenly associated with probate homes, some people tend to shy away from this marvelous investment opportunity. This just means more opportunities for you.
What’s more, probate homes are often paid off, or have a lot of equity. This means that the sellers are not concerned with paying off a large mortgage when they sell. They often tend to be very willing to sell their probate home at well below market.
With eager sellers, the opportunity for deep discounts, and the relatively low level of competition, probate homes are a great way to get started in the lucrative world of real estate investing. And, if you don’t have muchcash, you can flip probate homes and still make satisfying profits.