For those of you who have read “Make a Flippin’ Fortune!”
http://MakeAFlippinFortune.com,
you know that many of my Probate deals have been done using a technique known as a simultaneous or concurrent closing.
In simple terms, this just means the money your buyer brings in to purchase the Probate property from you is used to pay the Personal Representative for your purchase from the estate. The difference is your profit.
Here’s a very simple example.
You agree to buy a Probate property for $200,000 and you write up your contract.
You then immediately find a buyer for the property for $225,000 and you write the contract for that also.
Both contracts are delivered to your escrow company and you arrange to close both on the same day.
On the day of closing, you show up and sign for the purchase at say 1:00PM and at 2:00PM you sign for the sale.
So the escrow company uses the $225,000 brought in by your buyer to pay your seller the $200,000 you agreed upon and you get to keep the $25,000 difference for your profit.
Pretty slick huh?
But even though this technique has been used thousands of times, like all good things it has been abused by some folks with less than good intentions.
Consequently, in some areas of the country, escrow companies are not letting you use this strategy any longer.
But as the old saying goes, “Necessity is the Mother of invention”.
Companies have now sprung up who will loan you short term money for your purchase.
Now before some of you old time investors fire me off an email telling me I forgotten the seasoning issue, let me tell you there are ways to make it work but this is not the place to go into that.
My intent today is just to let you know of a company I have discovered that is in the business of short term money and can be another alternative to help you with your financing issues.
I still believe the strategy I did the workshop on this past summer on Private Money lending is the best solution but this is another alternative.
I still have the Private Money package available for those of you who might have missed it.
http://BuyProbateProperty.com/PrivateMoney
But back to the short term money, here’s a site you can check out
http://shortsaletransactionfunding.com/
Most of their information is pointed toward short sale buyers buy it works just the same for Probate.
I have never personally used this company so be sure you carefully check them out. I am only providing the web-site as another resource for you.
So there are two solutions for those of you who think you need some assistance in the financing area.
By the way, for those of you wanting to get into Probate Real Estate, I offer my “31 Days to Profits in Probate Real Estate” and “Make a Flippin’ Fortune” in a combination package and I give you a $20 discount as an incentive to purchase them together.
Just go to
http://BuyProbateProperty.com
and when you click on the “Add to Cart” button for the Probate book, you will get the offer for the “Flippin’” book.
28
“It Starts This Saturday!”
Every financially successful person I know has a prosperity consciousness.
For some it came from their childhood upbringing. They were raised in prosperity thinking and it comes naturally.
For others, they had to learn the practice.
However, each and every one of them has a conditioned mind that keeps them in the prosperity moment.
Now does that mean they never experience money issues and they just sail through life with everything they want?
Absolutely not.
The most obvious example of this is Donald Trump.
Whether you like the boy or not, you have to agree The Donald has a prosperity consciousness.
He flat knows how to make money and he isn’t shy about telling all of us about it, is he?
But about 12 years ago his empire came crumbling down, he lost much of what he had built and he was hugely in debt.
But look at him today.
He’s back…..and that’s an understatement.
He’s everywhere.
He’s even lent himself to other products and is now doing TV commercials.
So even though he had financial problems most of us could never imagine, he KNEW he would recover and be back on top.
He has a prosperity consciousness of the highest magnitude.
Since I know this mindset is so important for all of us, I offered to each of you a 4 part tele-seminar course on the book “The Science of Getting Rich”.
I even offered to through in a copy of the book for no charge for those of you who don’t already have it.
Well, our first segment is coming up this Saturday, Oct 3.
For those of you who have already registered, I’ll be sending out the call in info in a couple of days.
However, this past week I did get some questions asking if it is too late to register and of course I said it is not.
I want everybody to learn this stuff.
So if you would still like to register, here are two links you can use to do so. The first link includes the download version of the book,
www.BuyProbateProperty.com/sogr.
This second link is for those of you who would rather I mail you a hard copy of the book.
www.BuyProbateProperty.com/sogr/hardcopy/
So for those of you who have not yet achieved the financial well being you would like, this is a course that will help you.
You don’t want to miss it.
Register now before the opportunity passes you by and you find yourself one year older and in the same situation you’re in today.
Oh by the way, you don’t have to adopt the Trump hairdo or persona to be wealthy. Just take a look at Warren Buffet. No fancy suits, no special hair “styling”, eats at McDonalds, drives his own old car and still has more money than almost anyone, anywhere. Mr. Buffet is also doing enormous good in the world with what he’s made by giving much of it away to worthy causes.
Mr. Buffet not Mr. Trump would certainly be my role model.
25
“Don’t Use Obituaries!”
I received an email asking about using the obituary notice instead of the Probate Notice to contact families who have inherited properties.
The fellow who wrote me said he had just listened to a Webinar by another guy who teaches Probate and he said to use the obituary.
Well, let me tell you a little secret.
If I wanted to sell more Probate courses I would tell you the same thing.
Why’s that?
Because obituaries are very easy to find and there are hundreds each week in almost every major newspaper.
So you, the unknowing potential customer, would say in your head, “Boy those notices are everywhere!”
Consequently, you would probably be much more inclined to make a purchase from me.
I’d be lining my own pockets by selling more courses but I wouldn’t be doing you a service if I told you that and here’s the reason why.
As you know, the obituary is a notice of a funeral service which generally will be held in a few days.
It does not give you any information other than the deceased’s name and the time and place of the service.
So while not giving you any information about who the Personal Representative of the estate is, that really isn’t the biggest issue.
Granted, you will be contacting the estate sooner but at a cost.
The real problem is if you act off the obituary you have all the potential of offending the estate by contacting them too quickly after the death.
For any of you who have experienced the death of a very close loved one, you know it takes time to work through the grieving.
For some it happens very quickly, for others it can take months.
So if you contact the estate just few days or even just a couple of weeks after the death, you are probably going to get a phone call you are not going to like.
It will come from the PR and there is a very good chance this person will be highly emotionally charged and irate.
You’ll probably hear lot’s of language you’ll not like.
Words like “bottom feeder” and “ambulance chaser” with expletives attached will come spewing out at a high volume.
It won’t be pretty.
However, if you work with the Probate Notices, you’ll avoid this most of the time.
The reason is the estate is the one who files this notice. So that means they have decided to move ahead and finish liquidating the property.
They have decided it’s the right time.
So if you want to be the one who contacts the estate first, use the obituary and prepare yourself.
If you want to be respectful of the other folks feelings, then use the Probate Notice that I instruct you to use and send out the letter I give to you.
By the way, my buddy Ray Contee sent me a note earlier this week…short but sweet!
Here it is,
“made another 8k today thanks to you and probate, thanks Ron”
I get one of these from him every so often. Ray bought my course a couple of years ago and I am sure he’s way over a couple of hundred thousand dollars in profits by now.
Let me ask you a question. Have you been getting my emails now for a couple of years now and are still wondering it you should get into Probate investing?
If so, look at what you have missed out on.
I was just talking to a RE investor back east and he told me Probate is the absolute hottest segment of the market right now.
There are folks making a killing in Probate while most of the investors are banging away trying to make foreclosures work.
For every person working in Probate, you will have 100 working foreclosures.
And get this, I saw an article stating that while foreclosures are getting all the publicity there are still more Probate cases available than foreclosures.
Why not pick the low hanging fruit?
Need more information on how to get started in Probate investing?
How about getting it from the number one rated Probate course on the Internet?
Here’s where you can find out more.
http://BuyProbateProperty.com
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