What Is Probate?

Probate is the legal process whereby a will is “proved” in a court and accepted as a valid public document that is the true last testament of the deceased.

Types of Probate Cases.

  • Estates
  • Small Estates
  • Non-Probated Wills
  • Protective Proceedings
  • Guardian Ship – Adult &Minor
  • Conservatorship – Adult & Minor
  • Trusts

Estates:

There are several types of estate cases. It may be necessary to file an estate depending on the circumstances and the assets of the decedent. The court is not able to determine the need to file an estate and does not provide forms for filling.

Small Estates:

A small estate may be filed if not more than $75,000.00 of the fair market value of the estate is attributable to personal property and not more than $200,000.00 of the fair market value is attributable to real property.

Non-Probated Wills:

The Court will file a non-probated will for safe-keeping.

Protective Proceedings:

A person interested in arranging limited control over an event (for example, the sale of property) or asset may file a request for protective proceeding hearing with the Probate Commissioner.  Requests may be made by letter and should set out the estimated time needed for hearings.

Guardianship – Adult and Minor:

Guardians are persons appointed by the court to promote and protect the health and well-being of a protected person. Guardians are required to file an annual report within 30 days of the anniversary of their appointment. The court provides a report form for guardians of adults and will accept reports from guardians of minors in letter form.

Conservatorship – Adult and Minor:

Conservators are court-appointed persons who administer and protect the estate (assets) of a protected person (a minor or incapacitated person). Unless the assets of the protected person are restricted by court order, the conservator is bonded and must file annual accounts with the court.

Trusts:

A trust is a document that may be created in a last will and testament and is designed to convey money or property from one individual to another. A trustee is a person who administers the trust assets and distributes the assets based on the intentions of the trustor, the individual who leaves property to others through a trust.

For free sample list of probates, inherited, foreclosure, pre-probates, vacant properties, absentee landlord, tax deeds and other motivated real estate seller lists visit us www.realsupermarket.com

 

6 reasons Real Estate Investors should focus on building a good credit rating.

Better credit rating encourages most lenders to offer credit at relatively lower interest rates, a wider choice of lenders, and, the most importantly higher amount offered as credit if required. Mortgage amount borrowed being high; a minor reduction in mortgage interest rate can knock off ‘000 of dollars from interest costs in the long run. This situation is particularly true to Buy to let investors.

  • Lower Interest costs, more Profitability

One of the main costs of the Real Estate Investor is interest/mortgage cost. A prudent investor tries to reduce the cost of capital to make greater cash flow and portfolio more profitable. Better credit rating can potentially encourage lenders to offer credit at lower rates of interest.

  • Quicker access to funds

Most lenders have adopted automated processes to assess the credit worth of the borrower. Credit rating provided by major rating agencies is a key component of the creditworthiness assessment. A good credit rating can significantly enhance the chances of automated approval or reduces the checks required before granting of credit. A poor rating can result in a decline or refer to an underwriter. Decline or referred decision can reduce the chance of obtaining the credit in short notice, limits the amount of credit accessible and increase the interest rate charged due to higher risk associated with credit request applications with poor credit rating.

  • Makes deals attractive

Many a time, investors focus our investing to a particular geography or type of investing strategy due to several non-financial reasons; time constraints, emotional attachments, fear of the unknown, or lack of knowledge. Better credit rating and result lower interest can be handy, providing great financial flexibility to deals. Though picking that deals with wafer thin margins is not recommended.

  • Access to better real estate deals

Real Estate investors with better credit rating have access to funds at relatively low cost and, a higher amount of fund at short notice. Access to funds at short notice empowers a Real estate investor to take advantage of opportunities, which are short lived at times.

  • Better cash flow

Better credit rating encourages lenders to offer capital at relatively lower interest rates contributing to lower monthly costs to the real estate investor. Lower monthly interest cost payments can improve the cash flow from Buy to let properties. More cash in the pocket every month, who would not want it!

  • Provides more leeway during hard times

When the going gets tough due to economic cycles, lenders make it difficult to borrow. The overall probability of successful approval of credit request is lower, real estate investor with better credit rating shall be preferred. Having to access unlimited credit in all economic cycles is a boon for a real estate investor. In a recession, one with access to low-cost long-term funds can make a fortune, more opportunities with limited competition. One of the key success factors in real estate investing is access to low-cost capital, available at will.

For free sample list of probates, inherited, foreclosure, pre-probates, vacant properties, absentee landlord, tax deeds and other motivated real estate seller lists visit us www.realsupermarket.com

 Happy investing.

Tips for Using the Absentee Landlord Data List.

  1. Mail a well-constructed marketing message to the mailing address of the absentee landlord
  2. Create a direct mail campaign which sends new marketing pieces at regular intervals
  3. Develop new content for each mailing with different approaches
  4. Adjust the mailer based on any feedback received
  5. Follow up quickly on any response received
  6. Provide your contact information on each mail piece
  7. Consider a Client Relationship Management program to document the campaign, response, and results
  8. If possible, use a hand-written note and addressed envelope for best results

For free sample list of probates, inherited, foreclosure, pre-probates, vacant properties, absentee landlord, tax deeds and other motivated real estate seller lists visit us www.realsupermarket.com

What’s The Best Way to Contact These Landlords?

Direct Mailers:

Direct mailers are a great way to reach out to these absentee landlords. The data will include not only the subject property but the landlord’s mailing address as well. There are many direct marketing companies who can assist you with the message and handle the mailing itself. Offer the landlord something unique in service or information to grab and keep their attention.

Social Media:

Social media is a great way to connect with an absentee landlord. Facebook, Twitter, and LinkedIn provide the ability to search by name, location, and zip code. Spending a little time on their profiles can provide you valuable information to help you make a more personal connection.

Phone Calls:

Phone numbers are easier to find than in the past. There are websites which can provide cell and landline numbers with just basic information. Many of these are free. If you are going to make a phone call, remember to offer something of value right away. Unsolicited phone calls can be unwelcomed, so get to the point quickly and have something of substance to tell them.

For free sample list of probates, inherited, foreclosure, pre-probates, vacant properties, absentee landlord, tax deeds and other motivated real estate seller lists visit us www.realsupermarket.com

What is an Absentee Landlord Data List?

  • An absentee landlord is an owner who does not live in the property they own. The property could be either rented or vacant. These are not only investment properties, but includes owners who might have inherited the home but have no intention of occupying it.
  • An absentee landlord data list provides information about these properties and the owners themselves. Landlords who do not live on-site provide good opportunities for new listings. Even if they are not ready to sell, things can change quickly and they could be in a position to sell in the future.

Who can benefit from this absentee landlord data list?

  • Real estate investors
  • Wholesalers
  • Landlord insurance companies and agents
  • Realtors
  • Property management companies
  • Leasing agents
  • Home care companies
  • Others

For free sample list of probates, inherited, foreclosure, pre-probates, vacant properties, absentee landlord, tax deeds and other motivated real estate seller lists visit us www.realsupermarket.com

The Importance of Cash Buyers.

Cash Buyers are the life blood for the Real Estate Industry. One thing a Cash Buyer constantly aims for is to secure a good deal, typically priced below market value. For properties which need to sell and close quickly, Cash Buyers offer the solution.

  • Quicker Closing Most Cash Buyers are seasoned investors with many transactions to their credit. This means they are adept at the process and typically can close faster than traditional buyers. They often know how to determine the value of an opportunity and do not need to rely on external parties for valuations, estimates or opinions to make a decision.The likelihood of a transaction falling through with a Cash Buyer is lower as well. Not only do they not need to wait for lender financing, but they also are not subject to lender qualifications, appraisals or decisions. Lenders are the most common reason why property transactions do not close.
  • Smoother Transactions A property sales transaction involves many people, not just buyers, and sellers. Cash Buyers often have their own team assembled who can navigate the process faster and smoother than traditional transactions.
  • Certain Closing A Cash Buyer offers a seller a lower chance that a transaction will fall through. By removing many of the common pitfalls and dependency on third parties, Cash Buyers rarely cancel the transaction.
  • Non-Mortgage Friendly Properties Not all properties can be financed. Lenders will only lend on properties in suitable condition, a Cash Buyer makes their own guidelines about the condition. Properties that have major structural damage, mold, missing amenities or other conditions that make the property inhabitable, can still be sold to a Cash Buyer.
  • Flexible and Tailored Solutions Cash Buyers make their own rules. They can offer creative and flexible terms to the seller. A Cash Buyer might offer the seller a lease to stay in the home. They could be interested in seller financing and offer a higher sales price in exchange. A Cash Buyer could offer the seller a Reverse Mortgage option or Structured Finance Option.

For free sample list of probates, inherited, foreclosure, pre-probates, vacant properties, absentee landlord, tax deeds and other motivated real estate seller lists visit us www.realsupermarket.com

How do we define cash buyers?

  • A Cash Buyer is someone who does not need to borrow money or sell an asset in order to buy property.
  • Occasionally first time buyers believe they are “cash buyers” but this is incorrect if they need someone else’s funds, i.e. a mortgage.
  • Some properties are offered for sale to “Cash Buyers Only.” This is normally due to property condition.
  • Lenders will not fund on properties that are not in suitable condition.
  • Common cash-only purchases would include properties with subsidence (and no insurance) or properties with no inside bathroom.

For free sample list of probates, inherited, foreclosure, pre-probates, vacant properties, absentee landlord, tax deeds and other motivated real estate seller lists visit us www.realsupermarket.com

Why you need an investment-savvy agent on your team

And how to recognize one when you see them

Key Takeaways

  • An open communication and collaborative spirit create a team atmosphere.
  • Investment-savvy agents know what kind of investment will offer the highest value and return.
  • Investment-savvy agents are your eyes and ears within the real estate community.

Real estate investors often overlook the role a partnership with a real estate agent can do for them in their quest for investment property transactions. These investors will do their own research, seek out opportunities and then find a real estate agent to help them, never creating a solid working relationship with one person.

But this should not be the case. An investment-savvy real estate agent can be a valuable member of your investment team, who brings industry knowledge and market insight unavailable to the average investor.

So how can you spot a truly investment-Savvy real estate agent when they come along? Every agent’s website talks about how much they love to work with investors. Most do not!

Not only do they complain about wasted time spent writing lowball offers, but they also lack the experience necessary to identify solid investment opportunities. Who are these investment-savvy agents? What makes them different from the average agent? And most importantly — how can they add value to your investment team?

The opportunity

Investment-savvy agents know how to look at properties in an unconventional manner. They search for motivated sellers. Although part of the package does need to include the value of the property to the traditional buyer, the right opportunity for an investor is certainly not going to be priced at retail value.

Investment-savvy agents know how to look at properties in an unconventional manner.

The relationship

Building a long-term relationship with an investment-savvy agent means having an honest understanding of the investor’s long- and short-term goals. An open communication and collaborative spirit create a team atmosphere wherein each property can be analyzed and decisions made.

An open communication and collaborative spirit create a team atmosphere.

The strategy

Investment-savvy agents learn the strategies that their clients utilize in their investments. Does the investor search for buy-and-flip opportunities, or do they buy and hold? Some investors are comfortable working with both types of investments some prefer one or the other.

Investment-savvy agents develop their strategies based on the clients’ needs, goals and portfolio.

The market

Of course, all agents must know their market, but the market is different for investment properties.

For instance, the same house could sell for thousands of dollars higher if marketed as an established vacation rental with history versus a single-family home. Investment-savvy agents know this and can help their client position properties properly.

By reading the market and its trends properly with an eye toward investing, investment-savvy agents know what kind of investment will offer the highest value and return.

Investment-savvy agents know which investment will offer the highest value and ROI.

The numbers

The biggest difference between traditional real estate agents and investment-savvy agents is the numbers. The agents need to understand how to calculate the cap rate, the pro forma and much more. They must recognize how these numbers affect the viability of an opportunity and how to explain that in terms of the market itself to their clients.

Working with trusted investment-savvy agents can add value to your real estate investing team. Having a resource for the market, the numbers and the opportunity that you can trust will save you time and money.

As your investment-savvy agents learn more about you and your goals, they will be able to research and present opportunities you could never find on your own. They can bring you profitable options that enhance your business.

They are your eyes and ears within the real estate community. The best investment teams include an Investment-Savvy real estate agent who is involved at every stage of the investment process.

For free sample list of probates, inherited, foreclosure, pre-probates, vacant properties, absentee landlord, tax deeds and other motivated real estate seller lists visit us www.realsupermarket.com

Investment-savvy agents are your eyes and ears within the real estate community.

How to find and target motivated sellers?

Use traditional real estate methods in addition to digital marketing

Key Takeaways

  • Traditional marketing practices are still valuable ways to reach potential clients.
  • Purchasing key target lists is a great way to find these potential clients.
  • Create a campaign using the data you obtain to supplement other marketing activities.

The internet has changed the way real estate agents market themselves. Every agent now realizes that he or she needs an online presence in to attract potential clients.

But digital promotion should not replace the more traditional systems of lead generation. The most successful agents combine internet tools with direct mail, phone blitzes and email campaigns — the bread and butter of prospecting — to find and target motivated sellers.

Traditional marketing practices

Traditional marketing involves getting down to the ground level, people-to-people interaction. It’s about meeting with potential clients at the right moment, when they are open to entertaining what you can offer them.

Often, property owners begin to think about selling long before they take any concrete steps toward listing. By offering advice and ideas to these property owners in the beginning stages, you can help guide them through the decision-making process, and eventually, the sale.

Offer advice to property owners when they first think about selling.

Creating the kind of advisory relationship involves communicating with prospects on a personal basis. You must talk with them, and perhaps meet with them. Traditional methods of marketing remove the veil of the internet and allow you to do just this. Direct mail and phone calls are personal ways to reach out to the person who might be interested in your help.

How to create a targeted list

Finding motivated seller lists can be done in a variety of ways. You can search through the public records yourself, or you can purchase prepared lists from a list source. The value of the list will be based on the credibility of the data. Accuracy should be documented so that you do not spend time and money mailing to inaccurate addresses.

What’s included on the list

A motivated seller list should include the owner’s name, property address, mailing address and as many contact options as possible, including phone number and email addresses, if possible.

You should look for a list that offers basic information about the property, square footage, number of bedrooms and bathrooms, estimated value, years of ownership and any mortgage information available.

Types of lists

  • Absentee landlords: Lists of properties that do not have landlords living on site
  • Vacant properties: Lists of vacant properties
    Pre-foreclosures: Also known as distressed properties; these could have a notice of default or liens filed
  • Foreclosure properties: Properties that have already been foreclosed and are now available for sale or auction
  • Divorce: Lists of recently filed divorce cases within the county
  • Inherited: Properties involved in probate cases or recently transferred between family members
  • Referrals: Sellers who have been referred to you

How to use a motivated seller list

How to use the information included in the list is really up to you. You can make phone calls or create a mailing campaign. Whatever you do, be consistent.

Whatever methods you choose to contact motivated sellers, be consistent.

Create a system for contacting these owners that offer something unusual and valuable to them. Then continue to reach out with additional information from time to time.

Traditional marketing, such as direct mail, might not produce immediate results; but added to other media, online marketing and interactions, it can supplement your current plans and provide a steady stream of prospects.

For free sample list of probates, inherited, foreclosure, pre-probates, vacant properties, absentee landlord, tax deeds and other motivated real estate seller lists visit us www.realsupermarket.com