Then you qualify to hire an investment attorney. Why should I hire an investment attorney, you ask? Good question. The simple answer is that they are best qualified to find and analyze real estate deals and unusual investments.
As you know, goal of any investment is to buy low and sell high. However, for various reasons many people don’t follow this simple plan. If this describes you, then all you have to do to change is to make a commitment today, and start again.
REAL ESTATE – more people have become millionaires through investing in real estate than through any other investment. Real estate can be bought normal way, or through probate (two ways to do this), and through tax liens or tax certificates. Everyone is familiar with first way to buy real estate so I won’t discuss it any further.
Real estate can be bought from probate estates in two ways. One is at auction and other is before it goes to auction. Any and all kinds of real estate are sold every year in probate. Homes, commercial and industrial properties, as well as vacant land. Generally speaking, properties sold at auction tend to be sold at or above market price. Which means this is not kind of deal you want to invest in.
So goal is to buy properties in probate before they go up to auction. However, that is hard part. Every state has their own rules of procedure and laws that govern such sales. Plus, general real estate laws are different in every state. Further, there is no such thing as a Multiple Listing Service (MLS) for probate properties. Which means that attorney spends a good amount of time to locate properties for his client.
It is common for investors to make a 25 to 40 percent return on their investment using this method. However, past performance is no guarantee of future performance.
Tax liens and tax certificates are two ways that various states may sell real estate if their local, county, and or state taxes are not paid. Again, every state’s rules are going to be different on how such sales are conducted. For example, amount of time that owner has to redeem (buy back) his property will vary. As well as amount of interest each state pays investor for his money that went towards paying back taxes.
So while a client can indeed place an “order” with his investment attorney for a property that he would like to buy, it does take time to locate properties, attend auctions, work through any legal issues affecting title, and ejecting any tenants that have no right to be in home any longer.