Welcome to the first installment of Probate Monday. I am currently reading Ron Mead’s 31 days to Profits in Real Estate Probate. Every Monday until I have succeeded in finding a deal I will be posting a step I will be accomplishing that week.
I know Ingrid is working her way through the course as well and I’m sure we both wouldn’t mind some company to help each other along. If you choose to take this challenge I’d love for you to post comments about your progress or asking any questions or tips you might have.
disclaimer: I won’t be printing the exact details of the course, but what I’ve understood to be the steps that Ron Mead has laid out.
As the week goes on I will be posting my progress for each step and also give my techniques for accomplishing them. They will be small easy steps as to make sure we all progress and not get stuck or overwhelmed.
So lets get started…
Step #1: Finding the Name of the Deceased
Part #1: Identify the Area You Want to Search In
This may sound like an easy step but if you are like me you are wondering the following…
- What makes a good area for probate investing?
- How large of an area should I focus on?
- Can I concentrate on an area where I live?
The answer to those questions is people die everywhere and there are beneficiaries who are looking to sell an inherited property everywhere. Pick an area that is manageable because we are beginners and it’s just easier to start off small. I like to segregate my areas into counties because I know at some point we are going to have to go to the courthouse and in New Jersey probate records are separated into the county the deceased died in. Ron recommends an area that has a population of 300,000 or greater, but going smaller is fine.
I am going to first focus on Morris County and determine if the population will support an investor. I like to stick close to home because I don’t want to travel to other counties where the court house might be 90 minutes away. I also live about 10 minutes from Morris County courthouse so I’m a bit lucky there.
Probate Monday Notes
This should be fairly easy for everyone but I wanted to start out simple just to get the ball rolling. Next Monday will require some detective work so stay tuned.
P.S. – When you figure out which area you are going to invest in place it in the comments.
P.P.S. – If you are interested in buying Ron’s Course 31 days to Profit in Probate Real Estate go here
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