You can find some of the most profitable real estate investing deals in probate real estate. They are especially attractive due to several factors. This article walks you through how to make money in probate real estate.



Probate properties are properties titled to a person who is deceased. Once a person dies, their estate is inherited by heirs or beneficiaries.



The probate process involves clearing the outstanding debts and releasing the remaining to the heirs. For example, the a probate property will be sold to settle outstanding mortgage balance and the rest distributed to the beneficiaries.



During the probate process, the beneficiaries are responsible for expenses associated with real estate, such as making mortgage payments, maintenance such as cleaning the yard, etc. Probate property can therefore be a source of distress.



An administrator (executor) is appointed to settle the estate. In most cases, this is usually an attorney. In some estates, you may find one of the heirs has been appointed as the administrator. This is done to reduce legal expenses.



Beneficiaries therefore need to sell the properties fast to reduce expenses.



If they sell through a real estate agent, the estate will be responsible for all real estate commissions. These expenses can be minimized if they sell to a real estate investor.



Sometimes the property might need repairs before they can sell it. If they cannot afford to fix it up, selling to a real estate investor may be their best choice.



How to locate probate real estate



County court records record all probates. There are 3 sets of important information: The deceased, the administrator and the beneficiaries.



When investing in probate real estate, you must periodically check court records for new filings.



You must then verify if they owned real estate from county recordings. Start with the name of the deceased. It could also be recorded in the name of the estate, e.g. John Doe.



Next you may find the outstanding debts or mortgages on the real estate. If this is not possible, I usually get this information from the beneficiaries or administrator.



Then you need to contact the administrator AND the beneficiaries. This is because the administrator can change from an attorney to one of the beneficiaries appointed by the court. This is very common.



Also, if you do not have the correct addresses, any letters to the beneficiaries will find their way to the administrator of the estate.



You do not send postcards. I usually send a series of nice, sympathetic letters every 30 days for 6 months. I offer my sympathy for their loss and express to buy any probate properties they may have.



They will contact me when the time comes to sell. Then I will make the deal happen.



Follow the same steps to make a lot of profits in probate real estate.



Simon Macharia is a real estate investor who buys and sells houses in Texas. Learn how you can run your real estate investing business and automate it from an interactive real estate investor website from http://www.RealEstateInvestorsWebsites.net