This Issue: Discover Secret and Untapped Income Streams with Probate

Check out Probate Deals for a Virtually Untapped Source of Investment Leads

Probate is the term for the legal process of disposing of the estate of a deceased person (or decedent). After paying the debts and taxes incurred by the decedent in his or her lifetime, probate distributes the remaining property among people as the will directs--or among surviving members of the family (heirs) and other claimants according to the judgment of the court.

Probate can be a lengthy process. Because of the enormous volume of cases--almost 2 million each year--and the enormous backlog handled by the judicial system, probate cases can take years to settle. That's a long time for loving, but eager heirs. And it seems even longer when you consider that probate assets are not something heirs are usually eager to hang onto. And because it's like "found money" that they didn’t ask for--the holders of the assets are usually desperate to rid themselves of these items.

Less Competition
One benefit of probate deals is that there is less competition for you. People who invest in probate assets find that they are in good, but select company. In fact, very few investors focus on--or are even aware of--this virtually untapped lead source! While most other real estate investors are chasing foreclosures, FSBOs, and newspaper ads, probate investors are at the county assessor’s office looking through their choice of deals that no one else is focusing on.

This means savvy probate investors have virtually no competition. They are able to find and buy property out of probate--only to turn around and sell it for an enormous profit.

Not Just Real Estate
Probate assets are not just comprised of just real property. They often contain personal property as well. Real property can be houses, commercial property, raw land, and apartments. Personal property includes automobiles, boats, furniture, jewelry, clothing, and collectibles. And it is in this personal property that surprise treasures lie waiting to be discovered.

You've seen it before. From time to time a probate "treasure trove" story hits the newspapers. You've probably seen a few of these "diamond in the rough" stories without realizing how they came about. An unsuspecting art lover buys a watercolor painting for $10 because she likes the frame, only to later discover a priceless masterpiece hiding underneath. A home purchaser climbing through the attic of his newly-acquired property opens a chest and finds a sheaf of letters from Abraham Lincoln. The news article probably uses the term "estate sale," rather than "probate," but rest assured estate sales are part of the probate process.

Finding and buying personal property will bring out the treasure-hunter and detective in you. And while probate real estate can be incredibly profitable, personal property can net you a tidy sum as well. While not every probate file will contain a "giant pearl" or a copy of the Declaration of Independence hiding in the attic, you can often find worthwhile items beyond the cobwebs and dust.

The bottom line? Probate investing offers great deals on real estate and personal property. And all this potential makes probate a fun adventure that pays profitably. So if you’re looking to eliminate your real estate competition, check out probate deals for a virtually untapped source of investment leads.

Related Links
Probate Home Study Program
Wealth Builder's Network Premium

Provide a Valuable Service to Heirs while Earning a Nice Profit for Yourself

As you've learned, probate is the process of distributing a person's estate after the person has died. After a person passes away, ownership of that person's (the decedent) real property and personal property is usually inherited by his or her heirs.

But for heirs, the probate process can be costly, complex, and confusing. If a will is uncontested, meaning no one disputes the will, the probate process may run smoothly. If the will is contested, probate can be much more complicated and can take a lot longer. Other factors that may affect the length and complexity of probate include the size of the estate, the number of heirs, and the amount of debt. Only after all these things are finally taken care of, can the assets finally be distributed to the heirs.

In the meantime, many heirs get antsy. They usually know they will receive an inheritance--and often even know how much--but they get frustrated when their portion remains stuck in the probate process.

If you are one of the savvy investors who focuses on probate, you already know about how profitable the real and personal property can be. But what you probably don't know is how you can provide an invaluable service to the heirs of the estate while collecting a nice paycheck for yourself.

Great for Probate Investors
Since you will already be dealing with a member of the estate (as a probate investor), brokering an inheritance funding deal can almost become like an "accidental" business for you. And all you have to do is provide a referral.

Here's how it works: There are inheritance funding companies that provide cash advances to heirs (beneficiaries) of estates. This is not a loan. There is no interest on the cash advance and the heir never directly makes, nor is responsible for, any payments to the inheritance funding company.

When heirs receive a probate advance, they assign a portion of their future inheritance to the funding company. The funding company then works directly with the court, probate attorney and Personal Representatives of the estate to collect their funds. Upon distribution of the estate, the funding company receives a fixed amount of money from the heir's share of the estate.

So how does the company make money? Simple. The inheritance funding company offers these cash advances to heirs in exchange for a discounted price. As a rule of thumb, inheritance funding companies typically pay anywhere from 60 to 80 cents on the dollar. In other words, if an heir is scheduled to eventually receive $100,000 from their share of the estate, the company might offer them $70,000 now. When the estate is finally settled in a few months or years, the inheritance funding company will receive the entire $100,000 from the estate.

Be the Matchmaker: The beauty of inheritance funding is that very few people know this option exists for them. But now you do. And by putting together an heir who wants cash now with an inheritance funding company, the company will usually pay you a fee.

To find a list of companies that offer this service, simply do a search on the Internet for "inheritance funding." From there, you can select a company. Most will not advertise the fact that they pay referral fees. But once you start finding probate deals, contact a couple to see what they offer. By serving as the "matchmaker," you will be providing a valuable service to heirs while earning a nice profit for yourself. It's the best "accidental" business you could ask for--and just another reason to love the process of probate!

Related Links
Probate Home Study Program
Wealth Builder's Network Premium