Probate Investing Approach

[Mytisha Harper]

How are you approaching your probates? What is the best amount of time to go back when researching a probate? 1 year? 2 years? Months? New to investing but I am very determined to learn the probate niche...

[Rick H.]

You do well to complete a course on probate real estate investing after you've studied real estate principals. This is because a number of the concepts will make more sense after you've spent time working non-probate sales.

Depending on the type probate file and your state, a typical formal probate may take from 6-12 months or more, from start to finish. 

An informal probate may take less time, however no interim powers are granted.

Depending on the type probate, you may be able to purchase real estate during the course of administration prior to the final distribution.

You must answer how big of a list you wish to work. If you work your list hard, 50-200 estates is plenty. Depending on your market thus could be many months, or in L.A. only a few weeks. 

Each estate is like a moving bus that starts, stops occasionally, and arrives to its final destination (distribution of assets) at some future date. 

However, you'd do well to consider other lead types as motivated Sellers, too.