Synopsis "Probate for Real Estate Investors: 3 Ways to Financial Success (in English)"
Probate For Real Estate Investors unlocks the secrets behind this profitable yet little understood area of investing. Simply stated, probate is the legal process by which assets are transferred from a deceased individual to his or her heirs. Although the probate process can be avoided by the establishment of a trust or other legal vehicle, many people do not do so prior to their demise. With millions of people dying throughout the US each year, there are thousands and thousands of probate cases annually. The author has been actively involved in this area for nearly a quarter-century. Paul provides a thorough backdrop as to why successful investors need to understand probate, and then provides the tools and knowledge necessary to accomplish this. He highlights the significant events, participants, and court procedures during this process, accentuating the key pieces of information and timing necessary to achieve success. Several case studies demonstrate how these elements fit together, resulting in profitable transactions. In addition to this basic information, Paul also provides numerous situations and opportunities for further probate profits. A key concept developed in the book concerns obtaining financing from the person inheriting the real property, thus completely avoiding the necessity of conventional financing, credit checks, and larger down payments typical of normal real estate purchases. Finally, another financing source during probate is identified, which may relieve the investor of the obligation of using his own money for repairs, mortgage payments, and "cash for keys". In all, there are several nuggets throughout the book to guide and assist all serious real estate investors.
