This week I got more questions asking if alternative financing can be used when purchasing Probate Real Estate.

My answer a couple of years ago was most PR’s want all cash so things like owner contracts didn’t work so well.

But in the last year or two, the landscape has changed a bit hasn’t it?

So now we are seeing more and more sellers willing to consider other financing methods like owner financing.

This reminded me that about 6 months ago, I did an interview with one of my students named Gayle.

She had just completed her first Probate deal and she had obtained owner financing.

I found the recording of that interview and I am going to include the link so you can listen if you did not hear it back in Nov of last year.

Everything still pretty much applies except for one link I mention in the recording.

If you want information about the “Seminar-In-A-Box” series, use this link. It takes you directly to the video.

http://BuyProbateProperty.com/specail-dvd

Here’s the link for the interview I did with Gayle. It lasts about 35 minutes.

http://www.audioacrobat.com/play/WkVBZ0Ds

There is one very important question that one of the listeners, Celeste, brings up at the very end so you don’t want to miss that.

This should give you an idea for another method to finance Probate purchases.

Enjoy your week!

”

Late yesterday afternoon, I was talking on the phone with one of my students who was redeeming his fr ee 30 minute consultation certificate that is part of the Probate Real Estate “Seminar-In-A-Box” package.

http://BuyProbateProperty.com/special-dvd

He brought up a question that I thought all of you might benefit from.

He asked if he needed to use the same sales contract that his real estate agent had given to him.

If any of you have ever seen this contract, you know it is quite lengthy and contains lots of legal language.

The reason it is so lengthy is the agent is representing another party, generally the seller, and must include language that makes very clear what both parties can and cannot do. It also needs to include language as to what the agent is responsible for so that they cannot be sued at a later date. All of this is very, very important when you are working as an agent.

However, since we are not working as an agent, I recommend you use a just a simple standard agreement.

Now, most cities have what I call the “For Sale by Owner” store. This is a business that has been set up to assist owners who wish to sell their homes without the assistance of a real estate agent. They sell all kinds of marketing materials; yard signs, flyers, generally publish a monthly newsletter with owner listings in it etc. etc.

They also will have what they call their “forms packet” that will contain a standard sales agreement. This is the agreement I recommend you use for a couple of reasons.

One, it is much, much simpler and easy to use and two, by using the one that is appropriate for your region of the country, you will keep in compliance with all of your local and state regulations.

Don’t want you to get busted by the real estate police now, do we?

The guy I was talking with yesterday also mentioned that he is amazed at the response he is getting from his first batch of letters.

He mailed out 37 in his first go round and got 6 return calls. That’s a 17% response which is truly amazing.

I’ve been saying for the last year that right now is a once in a lifetime opportunity for RE investors and his first few weeks in the business is proving my words.

One of the 6 responses looks the most promising as the heir lives 1500 miles away and just wants the house sold…….NOW! She knows the housing market is in a slump and has said to bring any and all offers. She wants to just get on with her life.

The money doesn’t seem to matter.

On yeah, one more thing, the house needs some repair. In one corner of the living room, a small section of the wall paper has come loose. Should take all of ten minutes to glue back up.

Even two-left-hands Ron (I’m not ambidextrous) could do that!

My guy seems to think he’ll make between $5,000-$25,000 depending upon what she accepts. He already has his list of investors interested in buying from him so he’s moving quickly before anyone else snaps up the deal.

Pretty sweet for your first deal, don’t you think?

And one last thing. The house is in Florida, probably the hardest hit state when it comes to a flooded housing market.

So anyway Kim, I wish you all the best with your very first deal.

Need to find out more Probate Real estate and my “Seminar-In-A-Box” package? Here’s where you can,

http://BuyProbateProperty.com

If you just want to go directly to the “Seminar-In-A-Box” package, use this link,

http://BuyProbateProperty.com/special-dvd

Last week I watched a TV show on the Discovery channel called “Deadliest Catch”.

Have you ever seen that show?

Simply amazing! It shows these fishermen who fish for crab on the Bering Sea in the dead of winter.

These guys are nuts!

I quickly decided that kind of job is not for me. (The Darling Bride Sharon laughingly agreed)

As a matter of fact, here are the top ten reasons I will NEVER be a crab fisherman.

1. I don’t look good in rubber
2. I like quiche
3. My favorite “F” word is food
4. I don’t respond well to yelling
5. No take out
6. The crab smell better than my co-worker
7. My cigarette bill would be bigger than my paycheck
8. I like afternoon naps
9. No seat belts
10. The pay’s not that good

But there’s one thing that did impress me about these guys.

They are COMMITTED!

I mean REALLY committed.

They are focused, focused, focused!

Remember the old joke about the chicken and the pig’s role in the bacon and egg breakfast; the chicken participates but the pig is committed!

Can you imagine how well anyone of these guys would do if they applied this same effort to real estate investing?

More specifically Probate real estate investing.

Just think if they were willing to work 30 straight hours several times a month how much work could they get done.

Heck they could do 3, 4, 5 deals each and every month.

They’d be putting $50,000 to $100,000 in their pocket every 30 days…..and sleeping in their own comfy, warm little beds.

Now I know these guys think the $10,000 to $35,000 they make for each fishing trip is a lot of money but look at what they risk to get it………and the season is really, really short, 4-7 days so they only get to do it once per year.

You can work Probate real estate 12 months per year….every year.

So I know the TV show makes this work look very exciting and it is.

But what would happen if you decided on a less dramatic job.

Let’s say you wanted to become successful at anything other than being a crab fisherman…..and you decided you were willing to put in their same effort.

WOW!

Now I know my argument here has some holes in it (like how about a little balance in your life) but I think you get my point.

Give some thought this.

Have you ever gone “all in” to changing your financial well being?

Have you ever fully committed to making your Real Estate investing career work no matter what?

Have you ever “burned the life boats” so success was your only option?

Fantasize of what you and your family would “BE, DO, HAVE” if you became the “crab fisherman” of your own life.

Something to ponder on this bright shiny second day of summer.

Need more information on Probate Real Estate?

http://BuyProbateProperty.com/special-dvd

Can you imagine biting off and eating a raw fish head?

Not me! I always like my fish heads medium rare!