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My New Blog!

Hi Everyone,

I’m in the process of converting the posts from this blog to my new blog: http://www.thestealthreinvestor.com.  Talk you there soon!

Happy Investing!

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There are so many ways to get real estate deals.  As an investor, the most popular ways to get leads are to post bandit signs or seek out foreclosures (easy to find these days).

One of the ways I’ve been trying to find deals is through probate leads.  That’s basically when a person passes away, the estate goes through probate, and if there is real estate, contacting the heirs to see if they’d  like to sell the house. 

I found a series of articles from Scott Costello’s blog which are quite interesting and explain the process well.  He’s following the Ron Mead probate course.  I purchased a couple of probate courses on eBay (including JG Banks) and they provided lots of helpful information.

It’s harder to find these deals (in my area, you need to go to the courthouse), but it’s usually worth the effort.

Do you invest in probate real estate?  If so, what is your success rate?

Happy Investing!

 

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I just heard about this contest which starts on Monday, 10/26/09.  I can’t wait to for it to start.  Many of the bloggers there are some of my favorites (such as TampaSteph), so it should be a lot of fun.  Check it out – I will be!

Happy Investing!

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We’ve been looking for some properties in the area – some to buy and hold and some to possibly wholesale.  There are some great deals out there, but where are they hiding?  There are tons and tons of properties out on the MLS, but most of them don’t meet our criteria to buy.

Some of the best deals, by price, have been some REOs we’ve been looking at.  However, sometimes when you take a look at them, they are a sight for sore eyes and there’s usually a reason they’ve been on the market as long as they have.  Even the most seasoned investor/rehabber doesn’t want to touch them.  I think a lot has to do with a lot of people (investors and regular home buyers) not being able to get financing, which is unfortunately a sign of these economic times.  I think if home prices hit the bottom of the barrel, like they have in Detroit, then you will see more people picking up properties.

We looked at a property in RI a short time ago which was a nice two family, one floor rented by a couple who wanted to stay and one floor was vacant (and I think we had a possible tenant).  The property didn’t need too much work and had been rehabbed by the current owner.  The property had been marketed as a short sale, since the current owner had been behind in payments and I think he probably remortgaged the property for more than what it’s currently worth.  Anyway, after weeks and weeks of waiting to hear if one bid on the property had been accepted, I was told the property was off the market.  I don’t know, but I assume the owner must have been able to get the money to save his home, which even if that doesn’t mean a deal for us, is always a good thing.

I think I will just  need to hit the ground running and start a mailing campaign, since that’s a great way to find motivated sellers and properties not on the MLS.  I am also building a lead generation website for sellers to contact us, so that should also help get some internet leads.

Happy Investing!

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Thanks for visiting. This blog will have articles, stories and information regarding the ups and downs of investing in real estate in South Eastern Massachusetts (MA) and nearby Rhode Island (RI).

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