Linda Pliagas , Publisher / Editor , Realty411 : Hello , thanks for taking our questions , we appreciate it . We are seeing the largest transfer of wealth in the history of our nation with the passing of Baby Boomers . How will this affect the probate industry ? And , has it begun to impact it already ?
Kristine Gentry , Ph . D ., Vice President of Innovation , US Probate Leads : The generational transfer of wealth offers a huge opportunity for probate properties . We know that many Baby Boomers own their own homes , and many have either no mortgage or very little left to pay . We also know that most heirs do not want to live in the homes they inherit . They prefer to sell them . Therefore , we expect to see the number of properties in probate continue to increase for the next several decades . We are already seeing an increase in the number of probates we collect every month , and that number will continue to grow . This is a great time for investors and realtors to grow their probate business so that they are prepared as the industry continues to grow .
LP : What ' s the difference between a probate that requires court approval and one that doesn ' t ? Do you feel one is more difficult to acquire for newcomer investors ?
KG : When a probate requires court approval , it means that the court will be more involved with the settling of the estate than one that does not require approval . This means it can take more time to settle the estate , including more time to sell the home if that is the goal . In short , it is more difficult because it is more timeconsuming . This can be more difficult for a newcomer . However , if the investor has time and financial ability to be patient , it can still result in a good deal .
LP : Can you share a success story about one of your clients who used US Probate Leads in their search for discounted probate properties ?
KG : We have many successful clients who regularly purchase our leads and find great deals on property . One of our newer customers is expecting to close a deal that will result in $ 40,000 in profit . She has only worked probates for a couple of months . We always tell our customers that historical leads ( those from previous months ) are good for probates in addition to the most recent leads . We have a customer who has made well over $ 100,000 by simply working with historical leads . He bought six months of past data , and he was so successful that he came back and bought the previous 24 months for the same area . Another longtime customer averages closing two deals per month from his leads .
LP : Do you see more probate deals in certain cities , areas , or parts of the country than others ? If so , why ?
KG : We definitely see more deals in areas with larger populations . We also see more deals in areas with older populations . We see a lot of deals in New York , Georgia , Florida , New Jersey , and Texas .
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