Real Estate Investor Research Journal: Probate Reports.

Probate Real Estate Course Secret Interview...

noreply@blogger.com (Stephen Henry) — Sat, 09 Aug 2008 19:27:00 +0000

This is the unedited full interview with Ron Mead, the author of "31 Days To Profits In Probate Real Estate" conducted in June this year. It is an excellent nutshell version of how Probate Real Estate Investing really works.

S: If we can start with the ... the big question, what is ... what is probate as it relates to real estate investing?

R: Well Stephen the probate is merely the process of disseminating the assets of an estate when someone dies to the heir group. Let me give you a very, very simple example and I think it will make it clear to everyone. Let’s just say that when a person died, they had a house that had a value of $100,000 and they had an existing mortgage of $50,000. Well when the person passes on, obviously the mortgage would have to be paid off and that ... that would mean that the heirs would need to come up with the $50,000 so obviously they would be looking to ... to sell that house and if they sold it, let’s say they were able to sell it for $100,000 they would pay off the mortgage of $50,000, there would be a remaining asset of $50,000 and if there were say a son and daughter that were the heir group that would be divided evenly and that would be $25,000 per person. So probate is the legal process of disseminating those assets of an estate after the liabilities have been taken care of.

S: Thank you good, good simple answer. And ... and for people who are listening on this call and might be hearing for the first time about probate real estate investing, why is it that probate real estate investing works as ... as a system? Or perhaps to even backtrack a little, what is probate real estate investing?

R: Well it’s kind of a term that ... that I coined called probate real estate, it ... there really isn’t such an area, probate real estate to me just means going to folks who have inherited properties and asking if they might be interested in selling to you. Now everybody wants to sell the properties that they ... that they have inherited. Very, very few people are going to hang onto them. Once in a while you’ll find maybe one of the son or daughters wishes to retain the property but 99% of the time they wish to get rid of that property. So maybe if I tell you a story as to how this came about it would make it clearer. In the mid ‘90s my parents passed away and I ended up inheriting a property about 250 miles from where I lived, and it was during one of those trips back and forth that the idea came to me that if someone wanted to offer me less than full market value for my parents’ house, I’d be very interested in listening because I like most folks had a very busy life at that point and I really didn’t need another project of that magnitude. Well no one came forth and it took me seven months to sell that property and numerous trips back and forth on the freeway to get there and a lot of time involved. So when I got back to Portland Oregon where I lived, I said to my wife you know Beth, if I went to the court house and spent the time I could figure out how to contact other folks who inherited property, mail them a letter and ask them if they might be interested in selling to me. The reason that probate works is because of the lifestyle we all currently have. We’re all very busy people, often times the kids have moved away from where ... where mum and dad live now and where they were born, and so the house let’s just say in this case my house would be in Portland Oregon and my kids live in Minnesota, New York and in Georgia.

So coming back to Portland to take care of all the things that go along with selling the house becomes a chore and so consequently people will say well geez, you know maybe the house is worth $200,000 but if you’ll give me $150,000 and I don’t have to make those numerous trips back and forth, I’m interested, let’s talk a little bit. So that’s the concept of probate real estate, and the reason that it works, which I think was your original question, is because of what I call distance and lifestyle. The kids live far away, they don’t want to keep coming back and their lifestyle is such that just really a lot of us don’t really have time to take care of the whole process.

S: Thank you. There’s been some exposure to the market place of the idea of real estate investing using the probate concept and ... and it’s been around for a good five years. Why do you think it still works, whereas opposed to say the foreclosure market it’s really reaching some saturation?

R: Well first of all it ... probate is not as predictable as pre foreclosure, short sale ... the short pre foreclosure short sale market. What I mean by predictable is that the people who are in ... who are in the process of being foreclosed upon, they must do something. They ... they’re not going to have a choice, so they’re required to ... to do something about their situation. Probate doesn’t require that. Often times people inherit houses, they’ll sit on them for four or five or six months. I bought a house actually 13 months after probate began, so there’s no real urgency on the part of the sellers, in this case the heir group. Consequently a lot of folks get involved in probate real estate and they start contacting heirs, and when they’re not able to put together a transaction in two or three or four or five month period, they become discouraged and they leave very quickly. Consequently people don’t stick around and ... and I don’t ... in Portland I haven’t experienced much competition. I’ve had people come into my marketplace, as a matter of fact I’ve even gone out to meet with the heirs and had them present to me my exact letter that they got from someone else. So there are people that have attempted it, to compete, but they don’t stick around long enough. I think part of the challenge is ... is things that I see in real estate investing is many times when you buy a course or go to a seminar, it ... it is so heavily hyped that you’ll be very wealthy tomorrow if you just buy their course, that people come in with a false expectation. They believe that if they implement whatever the strategy is, then in 30 days they’ll have another $50,000 in their pocket. And in probate especially it doesn’t work that way. It can, now I have done deals in 13 days from start to finish so it can go very quickly. But I’ve also like I just mentioned to you Stephen, I’ve also taken 13 months to do a deal. So I think that lack of a consistent result often times discourages people and they will get into probate, kind of tippy toe in a little bit for a ... a month or two, and if they don’t put two or three deals quickly together they say well it may work for Ron in Portland Oregon but it doesn’t work for Jim in Georgia. So I think that’s part of the difference, but we certainly know ... I’ve jokingly said and I hope this is not taken improperly, that as long as people are dying, there’s going to be an opportunity for probate property because continually the ... the heir group does not want the property, they want the money which comes from the sale of the property. So that’s why I think it will be around for a long, long, long, long time. The only thing that could happen is if something happened to regulations and it became ... that the public information which is now available at all of the 3,077 counties of the United States, that for some reason that public information which is the probate information, was no longer available. So that would kill the ... kill the field. But I ... but I can’t imagine that happening.

S: No, and in fact it seems to be going the other way from the research I’ve done suggests that a lot of the counties are putting their records online now?

R: Absolutely, that is the trend. I think in another five years that probably will be the case, which I will point out Stephen is a blessing and a curse. When I first started we went to the courthouse every morning to get our ... to get our information, either my wife or I went down to the courthouse, and it was a bit of an imposition because it was a 4:45 wake up for us, because the only time we could be at the courthouse was from 7:00 until 8:00 in the morning, and since we lived outside of Portland by the time we got up and cleaned up and got showered and got downtown and got a parking place and got over to the courthouse, it had to be a very early wakeup. But the interesting part about that is that the courthouse we were going to at that time permitted us to go behind the counter and actually pull our own files. So as long as we were there from only 7:00 to 8:00 we could pull our own records, do our research and be out the door and be back home by 8:30. So the blessing to that is, as I state there’s a lot of folks who would not be willing to do that. So if you’re willing to do the work you’ll eliminate a lot of your competition. Now as information becomes more available online and it will be, then you’re going to have more competition. So it’s ... it’s a kind of a double edged sword.

S: Look I agree, I agree. And you mentioned 3,077 counties, just for people who are listening throughout the states, is the system applicable to all counties or ... or should they focus on a larger county or a better county if they ... what’s your experience with you and your students?

R: Well the system is ... the system that I have devised is applicable everywhere. Now there will be certain nuances that an individual will have to discover and let me give you an example of right here where I live, when we first started out I was ... I was prospecting in five different courthouses. Now as I mentioned to you one courthouse would permit me to go behind the counter and pull my own files for that period of time, for that one hour period. Another county I would go to they would say ... they got to know me, it was a smaller county and they’d say hi Ron, how many files do you want? Well give me 30. Okay, and they would give me ... they would literally hand me 30 files and they would give me a desk and a place to work at, and I would sit there for an hour or two or three whatever it took going through the files and researching those files. Another county, and these are all adjacent counties, another county I would go to they had a local area network computer and I had to look up each file that I wanted to ... to research on the ... the computer, list the file numbers, fill out a little form and go over to the desk and give it to the clerk, and the clerk would give me the files back. The next county would say well we’ll give you five counties at a time ... we’ll give you five files at a time I beg your pardon, and I would keep a record so that I knew my last file that I worked in was 302515 and now I wanted 520, so that would give me five files to work with. So those are nuances that I talk about that are somewhat different in each individual county. But that’s just something that you need to discover on your own. Obviously I can’t tell you how ... how a county in a New York on the east coast of the United States, I can’t tell you exactly how that’s going to work similar to a county in the west coast. But they’re all pretty similar. I haven’t seen anybody tell me this absolutely does not work here, I can’t imagine why it would not work.

But that’s part of the reason that I think my course is ... is more valuable than any of the others because I give you the basic blueprint which you then take and apply to your county. I don’t claim to tell you exactly how your county is going to work down to each of them.

S: Thank you. And I was going to ask you about market saturation, but I guess you touched on that a little bit before. But just to ... to answer that question, what about for those students who would say well look, what will happen in a year or two if this information is out there and everybody’s using it?

R: Well that’s kind of the American way isn’t it? You know we’re all competing in all markets for just about everything. I always say you know I came to the restaurant business ... for 23 years I worked in the restaurant business all the way from a ... a bus boy to ownership, and that’s a very competitive marketplace. I’m always competing for everybody to get ... everybody to get you to come to my restaurant. So it’s just a matter of you doing your job better. You ... you may have to give some thought as to what you can do a little differently or ... or there may be adaptations. That’s what I encourage everybody to do with the blueprint that I have is to take it and think about it and say well how can I improve upon this? How can I do it a little better? So I think it would ... it would make me look pretty foolish if I said competition wasn’t going to be there, there is going to be competition there. But on the other hand here’s what I ask everybody, and the question is look at your financial situation and ask the question if I were to work part time over the next year and I were to add $10,000 of income or $20,000 of income or $30,000 of income, how would that impact me? I can’t answer that question. If you made $300,000 last month and you do one deal for $10,000 over the next 12 months that’s not going to be very important to you, that’s not going to be a very big deal. However, if you made $35,000 last year and you worked part time and added $10,000 of income that probably is going to impact your family considerably. So yes there will be competition, but you have to look at the rewards, that’s the nice thing about the segment we’re working in is the rewards are pretty good. I’ve made as little as $3,700 and I’ve made as much as $31,000 on ... on basically the same amount of work. So it’s just a matter of value and I’m not going to insult people and say you know with our system you’re going to immediately make another $250,000 next year. It’s entirely possible, but it’s ... it’s probably not probable in your first year, I think that’s a pretty lofty goal to go from ground zero to $250,000 in one year.

S: Thank you. And to our next question, and again you’ve touched on this before, but we’ll just ... we’ll run through each question. How does your course vary from the expensive seminars we see advertised?

R: Well I think that’s a great question, I think it’s the best question Stephen because I kind of took it the opp ... the opposite approach. I ... I happen to have gone to a couple of these seminars and looked at them and what I felt was that they were filled with a lot of what I call related material but not relevant material. Now let me give you a specific example, one course that I took ... I actually went to the preview I’m sorry, but they ... they discussed with us that they were going to have a two hour segment on the evolution of probate law. Well I’m not an attorney, and quite frankly I couldn’t care less. But to the uninitiated it might appear that you would need to know something about probate law when in reality you don’t.

But I have actually been sent by some of my students some of the synopses. I actually have the ... the entire course content for one three day seminar that cost $3,000 and the ... the little post-it note the lady put on there, she said well I was held captive for three days for four hours of good material. So she thought within that period of time there were four hours worth of material that really told her what to do. Well when I started to write my book, and understand I’m not a professional author I’m a professional real estate investor, I ... I remembered when I was in the army, and the army has a manual for everything, I mean literally everything. You can’t do anything in the army if there isn’t a manual, and the manuals are all very succinct, they’re always do step one, do step two, do step three, and they’re very effective. They tell you exactly what to do. So I thought to myself when I sat down I said, if I can boil this process down to an essence and ... and ... and I could say okay read this manual and after you finish you will know exactly the step ... the first step you need to take tomorrow morning. Now I’ve been to seminars, I suspect you have Stephen that on the last day you’re so confused ... and I’m not talking about probate but things in general, you’re really confused, you’re not quite sure what you’re going to do when you get back, and generally what you think you’re going to do is review the material. I must have missed something because it’s not clear to me what I need to do on day one.

S: So you leave there on that last day, you’re exhausted, you’re overwhelmed?

R: (laughs) Right. Well I said if ... I think I can do the other part. I think I can just boil the whole process down to its essence. As a matter of fact I list the four steps that you need to take in my book. They’re very simple, they’re right there. There’s the four steps you take and the ... and the fourth step is the letter that I give you so that’s not a very complex step. But ... so I ... I try to take the opposite mainly because that’s how I work best. I like things that are simple, I like things that are very direct. You don’t need this to pump me up with a lot of rah-rah that I’m going to be wealthy in another two months, I don’t need that stuff. Just tell me what I want to ... what you want me to do. So that’s the ... that’s the reason my book is so inexpensive, and that’s the reason that I took the approach that I did was to try to ... try to boil it down rather than have the three day seminars that as you and I have talked about Stephen you know there are some now that are costing ... they’re charging $10,000 for these seminars to go to learn about probate and I just ... I just don’t think it’s necessary let’s just put it that way.

S: That’s true, look I like the comments from one of your students. She said that ... she said Ron, I almost didn’t buy your course because I thought how good can it be it’s so cheap? And then after ... after she reviewed it again some of the more expensive courses, she came back with a glowing recommendation so I think it’s funny, it might actually be too cheap, you might have to look at raising the price.

R: (laughs) Well I’m comfortable with that, I ... you know I thought at the very beginning Stephen I said I ... I hope that I can ... what I’d like to have is a balance. A balance that rewards me for the work that I’ve put into it and the 12 years that I’ve been doing it. But it also ... I want the price to be low enough that it really doesn’t prohibit anybody who’s serious from getting in. A lot of people could be serious about getting into real estate investing but if they’re going to have to go to a seminar that’s going to cost $3,000 and they’ve got to pay another $1,500 for airfare and another $1,500 for a hotel and then food and everything else, you know they really don’t have the six or seven thousand dollars that it takes. So I really feel that ... that our price is a good balance between rewarding me and being fair to the customer who buys it.

S: Good. Ron after someone buys your course, what ... what costs are involved in them ... in actually running a ... we’ll call it a probate real estate investing business, because that’s what it essentially is, it’s a business.

R: Well what I suggest to everybody is first of all you approach it as a business. I really think that if ... if you just kind of dabble your toe in it you’re probably not going to be that successful at it. So initially what you need to do is you need to have a computer, I’m assuming that most people that buy my book as I only sell it online, have a computer and a printer. I suggest that you have a separate business phone line to come into your office. That ... your office could be a corner of your bedroom, it needn’t ... nobody knows, you can’t tell that when you’re online. You need to have some mailing materials, you need to have some envelopes because you’re going to need to mail letters. I suggest you mail about 25 letters a week, so let’s just say each letter were to cost you 50c, that would be $12.50 per week you’ve got to allocate, or a little bit more now postage just went up a little bit. So maybe say 60c so you’ve got to have $15, $16 dollars a week and you start mailing letters, and that really is the basis of it. Now one of the things that I found as I progressed was instead of going to the courthouse in my research I found a local newspaper, not my daily newspaper but a local business newspaper had my probate listings in it and so I subscribed to that paper and I think that was about $1 a day that I ... that I paid for that. So there really isn’t any ... there’s not a lot of barriers for entry.

The biggest challenge that most folks have is they ... they just don’t stick with it. Money’s not an issue I don’t ... I think anybody would agree you know if you had a total commitment of $100 to get my book, to get the stationary you need, to get a phone line put in etc. that’s certainly not prohibitive. But there ... there are not a lot of expenses involved in the process because remember Stephen really what I’m describing is a prospecting system. Maybe I could go into that for a second because I want to make that very clear because a lot of people get confused and they think well since probate is covered ... is governed by the judicial system it must be a legal process. It’s not at all, it’s not at all. It’s a prospecting system. I send letters to people that have inherited houses because I know they want to sell those houses and I believe that a percentage of them will give me a discount. I’ve said before if I thought people who owned blue houses were a better place to prospect because people who own blue houses had a greater propensity to give you a discount because they wanted to sell quickly, I would prospect with people who owned blue houses. But that isn’t the case, I know people who have inherited probate houses want to sell them quickly because they’ve inherited it, it’s not their house, it’s more or less free money, they don’t have time to take care of the process necessarily. So there’s not a lot of expense involved in ... in getting up and getting started.

S: Thank you. I’ve had a lot of questions from clients or from people interested in ... in real estate investing generally and a touch more specific for probate real estate investing, saying that can they purchase probate properties or how can they purchase probate properties using the system if they don’t have any money, or if their credit could use some help?

R: Well that was the number one question that I also got. The first book that I wrote was called Thirty One Days to Profits in Probate Real Estate and immediately I started getting emails from folks saying well Ron how can I do this if I’ve got poor credit or if I don’t have a lot of cash? And I had solved that problem very quickly on. Now when I first started out I ... my wife and I did have some equity in our home so we took out an equity line of credit and we were able to do small deals one at a time because the line ... the amount of money we had was not big enough to be doing two deals at a time. But very quickly on I came up with some ideas of how to do deals even if you don’t have any money and even if you don’t have any credit.

So I wrote a second book called Make a Flippin’ Fortune, and I offered that to folks which was purely what I call the gorilla financing book and that’s also ... we offer that in combination with the ... with the first book. Matter of fact we even give everybody a discount if they want to buy the two together. But very quickly let me ... just so I’m not terribly oblique I’ll give your listeners a very easy example. I ... I say see the people tell the story and here’s what I mean by that. If I were to go to a soccer match tomorrow, they have a kids soccer match up at my local high school here, and I’m standing on the sidelines watching my ... my youngster play soccer, it would be very easy to strike up a conversation with the person standing next to me. Now I’m an outgoing person, I readily admit that, it’s easy for me to talk to anybody. I can get a conversation going while I’m ... while I’m getting my gas tank filled up. So that’s easy for me. What I ... I could say to people standing next to me hi how are you? How is your kid doing? Yada, yada, what do you do? The next thing I know I say can I ask you a quick question? And 99 times out a 100 the person will say sure what ... what are you thinking? I say, you know I do a little real estate investing and I’m wondering do you know of anybody that might be interested in buying houses if I can get it to them at less than full market value? Well if you ask that question 10 times at a soccer match I guarantee you’ll come away with two or three people that will say you know what? My brother in law, my brother in law’s buying houses, maybe he might be interested. Could you get me his phone number? Well sure I can. That’s one idea. I ... I say anywhere you go and there’s people all you’ve got to do is see the people tell the story.

What about Stephen if you picked up your local phone directory or went online and got a phone directory and looked under CPA, and you jotted down 20 numbers of phone ... of CPAs and jotted their phone numbers down, you picked up the telephone and you ... you got Sally Smith CPA on the phone, you say hi Ms Smith, this is Ron Mead calling, I don’t want to take much of your time today but I just ... I just wondered do you have any clients who might be interested in buying real estate at less than full market value? You do really? Could I have their number? You can’t give me their numbers? How about if I give you my phone number could you have them give me a call? So you can see Stephen in a matter of gosh three or four days, you could probably build yourself a list of people who would be interested in buying your property, and all you have to do is partner up with them. At the beginning if you don’t have any money, you form a relationship with them and the two of you do it together. So you don’t have any credit, you don’t have any money.

S: Thank you.

R: Easy to do huh?

S: Yes it is.

R: And there’s many more, I’ve got many more ideas in there but I ... I ... what I try to do is stimulate people thinking saying oh okay, I see what Ron’s talking about I can do this and this. So that ... that’s not a barrier at all. I quite frankly say getting the money is the easiest part, and I also know almost with 100% certainty that people who don’t have the money scoff at that statement and say yeah he can say that but he doesn’t know my situation, but I do, I really do.

S: Actually one of our magazines here, the subscribers are fairly you know mid range to large business people, it actually has a ... a club where people can ... and this is a ... and this isn’t some crazy, this is a real, mainstream middle of the road magazine, it has a club that if you have a good idea, you can basically write into them and they’ll present that idea to their club, and their ... their business guys will ... yeah well they’ll obviously take it through a screening process and they’ll ... they’ll fund it for you. So for people who ... who doubt this, business people out there, the one thing they really value is ... is good ideas and enthusiasm and ... and of course integrity of idea. But if you’ve got a good idea and it’s something that people in business will be prepared to take a bit of a punt on because that’s what they do, it’s very easy to get funding for projects.

R: And especially if it’s secured by real estate.

S: Especially if there’s security involved.

R: That’s ... that’s the problem, in my company you would say you know I’ve got the ... the latest invention of a new plastic bottle, you know you might have a little trouble getting that ... that idea off the ground. But if you come to someone and say geez, I’ve got a $250,000 house that I can buy for $190,000, would you be interested in putting up some cash and I’ll guarantee you they’ll be lining up around the block.

S: That’s very, very true.

S: Ron, thank you. For our last question, what about for those listeners who are old enough to realise that the real estate market sort of moves in cycles along with the stock market and ... and at the moment there’s a ... a lot of heat’s gone out of the market and it’s a little bit slow. Is now a good time to get into probate real estate investing, or is there a better time or a worse time?

R: Well actually I think now is a little bit better than it was even two or three years ago. When the market was appreciating, when I was contacting folks a lot of them were thinking you know I’ve looked at the house and I think it was worth 250 and of course they’ve been reading the local newspapers and hearing about how market values were going up $10,000 a month or whatever, so they would somewhat scoff at my offer. However, because of the ... the market today in the United States, you know the market is certainly soft at best so people are pretty set up. They’re already set up, they already know they’re going to have to take a hit on their property and quite frankly they’re just excited about the fact that you’re interested. So you know I ... I’ve heard this said before and sometimes I even have ... listen to it with a jaundiced ear when people say well now is the absolute best time, so I’m not going to ... I’m not going to go that far, but it certainly has the table set for you because everybody knows that the real estate market has taken a big hit in the last 12 months. So when you come and you make a discounted offer on ... on the property that you’re attempting to buy, they’re already preconditioned. They’re already thinking well we’re not going to get what we would have got a year ago so ... and ... and the other thinking is you know gosh Ron’s here with an offer, maybe you won’t even get another one. So I ... I would say your answer Stephen is I ... I just couldn’t encourage people strongly enough to ... to get busy right now and ... and ... and develop a business. If say it takes 12 months and you make only $20 or $25,000 in the next 12 months, that can set you up very nicely. We just got a call as I think I told you Stephen, our whole business is just my wife and myself, we have a two person business, and she got a call the other day from a person we had never heard of, just wanted to call and thank me for the book and he’s a fireman in Chicago and has completed 16 probate deals in the last 12 months. That’s highly unusual, but I throw that out as what can be done. He’s very motivated because as I recall he’s about 50 years old, he’s been a fireman all of his life, he said I can’t be a fireman much longer. He said my body is starting to deteriorate and I’ve got to find another way to make a living and so he started ... he bought my probate book and ... and there’s a couple of points in that story, one the number of deals that he did was ... was pretty amazing, and number two I’d never heard of the guy. Now ... because I often times get some questions about support, what kind of support do you offer?

S: Yes.

R: And I ... and I do offer email support for the first two months but that’s it you know, for the low cost of the book I can’t give personal consulting, I have to be very honest. I may add that because I’ve had so many requests for it, but it ... it’s not going to be cheap to get to talk to me personally and take advantage of all my experience, I’ve got to make it worthwhile on my time, but my point is that with the fireman in Chicago, we had never heard from him. He grabbed the book, he read it, he said I can figure it out, he made a certain couple of changes that he needed to make that were particular to the Chicago market and he ended up buying 16 houses in 12 months. I think I told you about my friend Tommy that I’ve become friends with down here?

S: Yes.

R: Now he bought the book as a matter of fact five months ago, we know exactly the day he bought it because I looked it up and I was so impressed with what he had done but he ... he’s had four or five transactions roll pretty quickly and at the same time he’s a full time ... I think he said he’s a ward clerk at a VA hospital in a very small town in ... in eastern ... central eastern Texas, you wouldn’t think there would be a lot of opportunity there but he’s been able to get himself completely debt free in five months. He made enough money on his real estate transactions to pay off all of his debt and ... and he’s very excited. So those are the possibilities. I don’t want to oversell that, but it’s certainly ... what you ... everything you need to know to get running is in that book. But I do provide email support as of today. We are getting more and more subscribers to our book and ... and that may not be something I can continue forever, but certainly I don’t have any plans to discontinue in the next 30 to 60 days.

S: Ron, let me just say thank you for all your information here today.

End of recording

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Is This The Perfect Time For Probate Real Estate Investing?

noreply@blogger.com (Stephen Henry) — Mon, 04 Aug 2008 02:46:00 +0000

Why Probate Real Estate Investing Is Like Owning Your Own Time Machine.

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Don't Buy Any Real Estate Course Until You Read This.

noreply@blogger.com (Stephen Henry) — Wed, 25 Jun 2008 00:26:00 +0000

With all the hype from real estate courses feeling the wolf at the door and screaming to get people through the door now that the stock market is having its time in the sun,

Thought you might be interested in a little story about how you can get expensive information on real estate investing for 1/400 of the price.

We all have a certain amount of time here in our life.

When we buy from the hype we buy on fear and greed, and usually lose money and time.

Your time is (or should be) valuable.

Anything you take on as a project will cost you time and effort.

What usually happens is you get all revved up on excitement, fear and greed, pay the big bucks, go to the course seminar or whatever. Get overwhelmed with information and come home with no idea where to start, feeling depressed and small and stupid. Then lie low to lick your wounds till the next thing comes along and you rush to get that.

If you are desperate you need to take a few deep breaths and do whatever, pray for an answer if you like it is a pretty good solution, but don't fall into the trap of paying a lot for information.

If you must pay a lot, pay for service or coaching, but know what you are getting up front and make sure it has a solid guarantee.

Information alone will not help you.

You must get out there and take action.

That is why so few people get any results.

As a publisher I have seen statistics that suggest that more than 97% of people never even finish reading information books, let alone put any of it in to practice

Seriously, don't pay too much for information!

Let me give you an example.

There is an excellent book written in 1959 called "How I Turned $1,000 into $5 Million in Real Estate in My Spare Time" by William Nickerson.

But because it is out of print and people have read that it is some sort of magic bullet it is selling for $400 or more at the moment.

You can see for yourself at abebooks and other used book sites.

Now with a little research you will find that Nickerson later on was in partnership with a guy called Al Lowry who wrote a book called "How To Become Financially Independent by Investing in Real Estate" which is also excellent and is actually a restatement of Nickerson’s book (and was a bestseller itself in 1977).

And guess what, It sells for $1 at lots of used book sites.

Sure the title isn't as catchy but the content is excellent.

Remember, there is nothing new under the sun.

This is your life, take a deep breath and decide what you want.

Take the time to find someone who is successfully doing what you want to learn and approach them about some sort of coaching or help.

This has worked for centuries and still works now.

P.S. For The Insider Guide to The Best Real Estate Courses Plus Your Free Special Report On How To Get Secret Course Discount Coupons Click Below Now To Go Direct To http://www.ProbateRealEstateCourseReviews.com

Utube Real Estate Real Reviews

noreply@blogger.com (Stephen Henry) — Wed, 18 Jun 2008 06:50:00 +0000

Probate Secrets: Part Two

noreply@blogger.com (Stephen Henry) — Tue, 17 Jun 2008 06:57:00 +0000

Welcome To Part Two Of Our Series In Explaining How Probate Real estate Investing Really Works.

Here is part of an in depth interview we did with Probate Real Estate Investing Expert, Ron Mead.

"For people who might be hearing for the first time about probate real estate investing, why is it that probate real estate investing works as a system?

Well it’s kind of a term that I coined called probate real estate, there really isn’t such an area.

Probate real estate to me just means going to folks who have inherited properties and asking if they might be interested in selling to you.

Now everybody wants to sell the properties that they have inherited.

Very, very few people are going to hang onto them.

Once in a while you’ll find maybe one of the son or daughters wishes to retain the property but 99% of the time they wish to get rid of that property.

So maybe if I tell you a story as to how this came about it would make it clearer.

In the mid ‘90s my parents passed away and I ended up inheriting a property about 250 miles from where I lived, and it was during one of those trips back and forth that the idea came to me that if someone wanted to offer me less than full market value for my parents’ house, I’d be very interested in listening because I, like most folks, had a very busy life at that point and I really didn’t need another project of that magnitude.

Well no one came forth and it took me seven months to sell that property and numerous trips back and forth on the freeway to get there and a lot of time involved.

So when I got back to where I lived, I said to my wife you know, if I went to the court house and spent the time, I could figure out how to contact other folks who inherited property, mail them a letter and ask them if they might be interested in selling to me.

The reason that probate works is because of the lifestyle we all currently have.

We’re all very busy people, often times the kids have moved away from where mum and dad live now and where they were born.

So coming back to take care of all the things that go along with selling the house becomes a chore and so consequently people will say well geez, you know maybe the house is worth $300,000 but if you’ll give me $250,000 and I don’t have to make those numerous trips back and forth, I’m interested, let’s talk a little bit. So that’s the concept of probate real estate, and the reason that it works, which I think was your original question, is because of what I call distance and lifestyle.

The kids live far away, they don’t want to keep coming back and their lifestyle is such that just really a lot of us don’t really have time to take care of the whole process.

Now This is quite simple to understand but what few people do properly is the important part, which we cover in full in our next lesson."

To read more in this series explaining in step by step detail how probate real investing really works stay tuned for part three in this series or visit ProbateRealEstateCourseReviews.com

P.S. For Your Insider Guide to Which Real Estate Courses Actually Work And To Get Industry Secret Course Discount Coupons Click Below Now
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Heard The Whispers About How Probate Real Estate Investing Is Like Foreclosure Used To Be? Part One

noreply@blogger.com (Stephen Henry) — Mon, 16 Jun 2008 01:59:00 +0000

Heard The Whispers That Probate Real Estate Investing Is Like Traveling Back In Time To When You Could Make Money In Real Estate With No Competition?

Are you looking for an alternative to the same old tired Real Estate Investing Strategies that only seem to make money for the seminar circus gurus?

Maybe you have heard that Probate Real Estate Investing is still a largely overlooked and untapped market.

Perhaps because there is a (mistaken) perception that it is too hard, but as you will find out this is good for you... and compared to the foreclosure market these days, it is a walk in the park.

Starting out in Real Estate Investing or even for those with some experience, it can be very hard these days as everyone and their dog is chasing the same foreclosures (have you tried this? Pretty hard isn't it?) so the smart people are looking to learn all they can about the overlooked area of Probate Real Estate Investing and get in before it too gets crowded.

Essentially probate is merely the process of disseminating the assets of an estate when someone dies, to the heir group.

Let me give you a very, very simple example and I think it will make it clear to everyone.

Let’s just say that when a person died, they had a house that had a value of $300,000 and they had an existing mortgage of $100,000. Well when the person passes on, obviously the mortgage would have to be paid off and that would mean that the heirs would need to come up with the $100,000 so obviously they would be looking to sell that house and if they sold it, let’s say they were able to sell it for $300,000 they would pay off the mortgage of $100,000.

There would be a remaining asset of $200,000 and if there were say a son and daughter that were the heir group, that would be divided evenly and that would be $100,000 per person.

So probate is the legal process of disseminating those assets of an estate after the liabilities have been taken care of.

But where it becomes of interest to us as property investors is the little known fact that makes Probate Investing such and attractive deal, which we cover in full in our next lesson.

To read more in this series explaining in step by step detail how probate real investing really works stay tuned for part two in this series or visit ProbateRealEstateCourseReviews.com

Source:
ProbateRealEstateCourseReviews.com is the ultimate resource for reviews of Probate Real Estate Courses as part of the trusted Stephen Henry Consulting Publishing Research Group.

They specialise in researching and publishing for their members the very best information in the world and as well have been able to secure a 10% discount rebate if you register with them so you can get industry discount rates on real estate investing courses. Registration is Free.

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Click Below Now To Go Direct To
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noreply@blogger.com (Stephen Henry) — Mon, 16 Jun 2008 01:57:00 +0000

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