One afternoon about three months ago, my phone rang and the guy on the other end said, "Are you Ron Mead?"

"I am," I replied.

"OK, then tell me ... what the heck is Probate Real Estate?"

Since I have received this question in some form or fashion about a gazillion times over the last twelve years, it wasn't too hard for me to answer.

Probate Real Estate, very simply, is real estate that becomes available when someone dies. The reason it becomes available is that most of the time the heirs who inherit the property really don't want the house and they are often willing to trade some of your hard earned dollars (or maybe someone else's hard earned dollars) for it.

Now, are you seeing an opportunity here?

If you have ever read a book, attended a seminar or listened to a CD on real estate investing, you will have heard this one statement over and over;

"You've got to find motivated sellers!" they shout.

Sound familiar?

Well, guess what?

People who have inherited homes are motivated sellers, especially if the house is in Michigan and they live in Texas. Distance apart is a super motivating factor, especially if they have already made a couple of trips and they are dreading the thought of making more.

Most of us today lead very busy lives and the thought of having to travel hundreds or thousands of miles to dispose of Mom and Dad's old house is not very exciting to say the least.

Do you think if you contacted some of these folks, you might be able to find a couple that would be willing to sell to you if you could take this project off their hands?

Do you think if you could do this quickly so they would not have to take any more time out of their already hectic lives, they might be willing to give you a discount from the full market value?

Do you think if you could buy a $200,000 house for $150,000, you might be able to squeeze a dollar or two profit out of it?

If there's any doubt in your mind, let me assure you,

YOU ABSOLUTELY CAN!

People in real estate markets all around the country, Phoenix, Dallas, San Francisco, Atlanta, Boston . . . are buying Probate properties at 10%, 20%, 30% discounts and in some cases even more.

Can you see why people who are working Probate Real Estate are reluctant to let the cat out of the bag?

Who wants competition when there isn't any?

Their position is ...

"Let'm keep banging their heads against the wall, getting totally stressed out, trying to work foreclosures, pre-foreclosures, FSBO's, REO's, tax liens, etc. etc., and finally figuring out that it's not as easy as the guy on television made it sound. In the meantime, we'll keep the Probate Real Estate Market to ourselves."

And besides that, everybody and his brother are already doing all the other strategies.

So the guy on the phone says, "It's really that easy?"

And I replied, "It is ... if you know how!"

© Mead Financial Group, 2008

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