Ok...Probates...A trillion dollar market and how it can explode your real estate business...A Thread💎💎 #30DaysofThreads
First, what is “probate”...it simply the legal term to describe the process of gathering the assets of a deceased person to pay debts...
Important Terms...🧐
✳️ Estate- property/assets of individual
✳️ Decedent- person who died
✳️Executor- person named in will to manage the Estate
✳️Personal Rep- person representing estate before official appointment
✳️Beneficiary- person who receives assets from will
Each state has their own specific probate laws, but the process is generally the same.
If you die intestate, your estate has to be settled via the courts (probate)
Ok so yesterday I talked about finding properties 🔍🏡by Driving 4 Dollars and using Deal Machine to find property owners (go back and watch if you missed it....
Now let's consider another option...
Go to bit.ly/RELists and buy a list of motivated sellers...
For $50 you get a list of 500
For $100 you get a list of 1500
(This is the better deal and you get to mix and match lead types plus you get the contracts you need😯💪🏾)
If you don't understand the diff lead types...
Absentee: people who own prop but dont live there🌎
Upside Down: people who owe more than property is worth😔🏡⬇️
Free & Clear: people who own w/o mortgage🚫🏦
Vacant: people who own properties that are vacant🏚