All Forum Posts by: Atchut Neelam

Hi Rick

I am not an investor but offer all types of real estate leads/lists and support services. My investor customers closed several deals. my company is celebrating 5 yrs next month. Happy to answer any questions one may have and share knowledge I have. 

Hi All

Quite a few people asked me to explain the differences between four category of leads - probates, probates with real estate, obituaries with real estate and inheritance. Summary is based on five years of extensive research. Happy to hear from more knowledgeable and experienced on the Bigger Pockets, I am still learning!

Probate Leads

1. Majority of instances property of the deceased person has to go through the process to transfer the title to the legal heirs.
2. It usually takes 3-24 months to complete the process; vary from state to state, and value of the property
3. Probates records are filed at county clerk office or county family court
4. Probate records may or may not have real estate associated. 20-50% of these records have real estate associated
5. Not the best lead type for real estate investor, high marketing costs and follow up time. Marketing costs incurred on ones without property is a waste
6. Not all property transfers go through probates process due to trusts, gift deeds and other tax optimisation techniques. Some opportunities may be missed
7. These leads are popular with investors

Probates with Real Estate

1. Above probates leads are processed to look up for property associated. Probate leads with Real estate are considered as leads
2. Better lead type for real estate investor, lower marketing costs and less lead but quality leads for follow up
3. Not all property transfers go through probates process due to trusts, gift deeds and other tax optimisations techniques. . Some properties may be missed
4. These leads are Very popular with investors

Obituaries with Real Estate

1. Obituaries records scrubbed to find if the deceased owns real estate. Records with Real estate are considered as Obituaries with Real Estate leads
2. Very early in the probates (or may not) process. Some investors like to get in touch with family early. Others think it too early.
3. Good opportunity to tap properties which do not go through probate process because of trust and other tax optimisations techniques
4. These leads are popular with wholesalers, who run massive campaigns and bond insurance companies

Inheritance Leads

1. Property transferred to heirs after the completing the probate process or other methods
2. Title of the property owned by heirs
3. Better lead type for investor; Heir may not live in the inherited property
4. Most popular with investors

Feel free to contact me if you need any further information.

Thanks for your suggestion @Roy 

@Roy N. undefined

Thanks for your suggestions.

I got only commercial real estate, but I need residential properties.

Is any source for property appraiser for Canada.

Thanks,

Neelam

HI BG,

Is there any source for Canada property search.

Please advice me

Thanks,

Neelam

Cash flow. Cash flow for sustained. Appreciation is a bonus for being patience.

Great feature. BP getting better day by day. Continuos improvement

It's all depends on three thing getting right One narrowing on good markets, two finding great deals, and third finding good a property manager who is high on integrity. Not many many property manager meet this criteria.

Welcome Matt. Best time to start is when one is in early twenty. Make most of your early start.

Originally posted by @Sean OToole:

List services, and property data providers, calculate (estimate) equity using two computer models - value and debt.

First you need an estimate of the property value, commonly known as an automated valuation model, or AVM. The most well known of these is the Zillow Zestimate, but they've been used by banks and others for years. This is also your first point at which some degree of error can be introduced, as AVM's are typically based on public record sales, and public records don't include attributes like view, curb appeal, and other less tangible items that can effect price. AVM's therefore tend to be very good in large subdivisions of homogenous homes with regular sales activity, and get increasingly bad as surrounding homes get more diverse, or there are fewer sales on which to base the estimate.

On the debt side, each loan made against a property is public record, including the loan amount, and often, the basic terms of the loan are available as well. The trick then becomes figuring out which loans are still open and outstanding (using either a model or by sorting through reconveyances, or both), and what the balance on those loans is (not public record at all, can only guess). Where the models have the most trouble is with home equity lines of credit (HELOCs), as that loan could be open and have a zero balance, or the borrower could have used the entire line.

Overall estimated equity is a great tool for narrowing the field to properties that are likely underwater, owned free and clear, fully encumbered, etc, around which many real estate investing strategies, including most creative financing strategies are based.

 Sean

tools you have on your website are very useful in analyzing the value, equity etc.