Mega Profits In Probates
Probate Real Estate Secrets Revealed
Mega Profits In Probates appears to be a cost-effective digital resource aimed at real estate investors interested in capitalizing on probate properties. Given its placement alongside other wallet-friendly offerings like Build A Massive Buyers List and 3x To 12x Your Income, it's likely priced affordably and designed to share practical strategies for generating profits from probate real estate deals.
Frequently Asked Question
A probate is the legal process by which a deceased person’s assets are adjudicated for distribution by a probate court. Probates offer investors a unique opportunity to get properties at below market value, predominantly because most heirs want rapid access to the cash the estate generates. Typically, the decedent’s main asset is his residence and the bulk of his estate. The probates come in the form of pre-probate, probate in process, and post-probate. The distinctions are important because only two of these are the most profitable.
If the decedent has a will, the heirs will present to the probate court for settlement of the estate. If there is no will, the court will appoint an individual to administer the distribution of assets. The appointed Trustee or Executor has the legal authority to sell the assets of the estate and can sign real estate contracts. The judge in the probate case has the final authority to reject or agree to any sale, so he is in final control of the assets being sold or distributed.
Following is a summary chart taken from our eBook:
| Probate Assets | Non-Probate Assets |
| Any Asset held in the Decedent’s Individual Name | Life Insurance, IRA, 401K, CD, Bank Accounts, or any Asset held with a Beneficiary Designation |
| Any Assets owned solely by the Decedent | Any Bank or Brokerage Account with a TOD (Transfer on Death), POD (Paid on Death), or ITF (In Trust For) Designation |
| Any Life Insurance Policy or Brokerage Account that lists either the Decedent or the Estate as Beneficiary | Real Property held Jointly as Tenants by the Entirety or Joint Tenants with Rights of Survivorship (JT/WROS) |
| Retirement Accounts that name a Beneficiary other than the Decedent’s Estate | Assets titled in a Revocable Trust, including real property, bank accounts, brokerage accounts, etc. |
| Exempt Homestead (real property passing to a Surviving Spouse or Heirs) |
If there were a typical time for the resolution and distribution of an estate, it would be six months. Besides the time required for creditor notification and petitions to the court from heirs, the time to contact heirs mentioned in the will, the most challenging period is when the will is contested. In some famous cases, the resolution and distribution of assets has taken over 10 years. We had a case where there were eighteen beneficiaries located in five countries, but it was resolved in one year.
The answer is ‘Yes’, but it will take extended legal action and the probate court to do an intestate action. If one beneficiary will not sell his interest, a common occurrence, a partition action will resolve this problem, which is detailed in our eBook.
The only person who is allowed to sign a real estate contract on behalf of the estate is a court-appointed Personal Representative or Executor. Suppose a surviving spouse signs a contract without being appointed as a Joint Tenant with Rights of Survivorship. In that case, the contract is invalid unless a death certificate has been filed and recorded in the public record. Your contract is often not valid because of inaction, but the spouse or the court appoints a Personal Representative or Executor.
The probate judge has the right to delay or stop any proposed sale if he so chooses. Typically, this is rare and usually happens if the judge suspects the property is worth more money, it is being sold to another heir or relative of an heir. The more common issues are a challenge to the will and the objection of another heir, which will have to be resolved before the sale.
My eBook walks the reader through multiple sourcing techniques and includes ‘best practices’ for list building of pre-probate, probates in the court system, and post-probate leads. Skip tracing relatives of the deceased can be challenging, and social media exploration is often an easier way to contact missing heirs.
Immediately build credibility by explaining in writing and in conversation that your profession is to help heirs through the challenging probate process, from maintaining the property, cleaning out the property, introducing them to specialized probate attorneys, and marketing and selling the property. Some students start ‘clean out’ and estate sale companies to contact heirs early in their probate process and work into making an offer on the property in addition to getting paid for their services. We have sample scripts in our eBook that help you open conversations with compassion and clarity, making you stand out from aggressive investors.
Realtors® and licensed sales agents can earn income for a probate by listing the property on the MLS® for the seller (3%), finding a buyer from their investor buyer list (3% to 5+%), helping an heir find another home to purchase (3%) if applicable, or purchasing the property using transactional funding and wholesaling it to an investor rehabber (10% to 20% of the sale price). The key to doing the last one is full disclosure in writing to the seller of what the agent is doing (disclosure, disclosure, disclosure).
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Meet some students and see what they have to say.
Dave Dinkel is simply the best Mentor I have encountered. He always comes through, his body of knowledge is unmatched in the real estate industry. Every time I come across a difficult situation I consult with him.
Ivone Rosales
Dave is the Best!! He is the most knowledgeable Real Estate Investing teacher out there. He’s been investing since Jimmy Carter (or was it Ford-LOL) was in office and has more experience in the real world than 99% of all others. Dave is a very caring and patient teacher and is interested in your success.
Bill King
My wife and I started Dave’s mentoring program last July 2015. For anyone serious about real estate investing this is the only program I recommend. Dave is always there if you have any questions and if he doesn’t answer right away, he will call you back as soon as he can!
Godfrey Bethel
I’m in the South Florida market and I’m one of Dave’s mentors and I absolutely vouch for the program. Information is accurate but more importantly in my opinion is Implementation. That’s where the real value lies. On my first deal, Dave offered to conference in on the phone with me and the seller. I can go by the office any time and the program has helped to sell each one of my 6 deals. It’s an excellent program.
Calvin Thurston
