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Have you ever sat quietly in a room and said to yourself, it's time for some long term thinking and planning? Most of us spend our days running from "have-to-do" to "have-to-do," never giving (or making) time to think any further ahead than tomorrow, the next day or maybe even the next week. The best we can do is make sure the car has enough gas and we have our schedule in the palm of our hand…either written or electronic…depending upon our age. Most of my time usually is spent thinking about Probate Real Estate. However, this past week was different and a perfect example of what I am talking about. The "Darling Bride" Sharon has a birthday the first part of June every year just like clockwork. Since it was also Father's day weekend, and we just finished staining our deck, we decided Saturday would be "party time." I had to get the invitations designed and printed (on the computer of course), get them mailed out, fire up the BBQ after its winter rest (should that read rust?), get the blender out for the Ole' Ole' margaritas, bake a huge birthday cake, make salads by the dozens (when did vegan become so popular?), get the ribs ready for us non-vegan party goers, try to remember where in the garage all the party stuff is stored, make endless trips to the store to buy the stuff you know you already have in the garage but can't find, plus make sure there's room for everyone who is spending the weekend. WOW! All the details! Fun, but definitely short term thinking. Right? What if you spent an hour or two…maybe three…thinking about a year or two down the road? What about five years down the road? What about maybe even ten years? Yikes, that's scary talk Mr. Mead! Well, here's where I'm going. I've had a few questions recently from my subscribers wondering what the market is for Probate houses once they buy them. Have you thought that yourself? Well my standard answer always has been and always will be, "If you buy them right, you can always sell them." That's 100% true. It was true yesterday, it is true today and it will be true tomorrow. However, let's stop for moment and look at this a little differently. What if you decided that rather than sell your Probate purchase, you were going to hold onto it while the current real estate market corrects itself? As a sidelight, I hope you all realize this is probably the best buyers' market in a long time, which makes Probate purchases even more attractive. This is why you are seeing so many "experts" jumping on the Probate bandwagon and offering to sell you expensive Probate courses. Anyway, back to my idea of buying a Probate property and holding it for a year or two or three...or maybe even ten years. Now that's long term, right? Do you realize that if you were to make one small Probate purchase for let's say $175,000; and it appreciated only 5% each year for the next ten years, you would make over $90,000? How about if you were able to only do ONE of those a year for the next ten years – that's only ONE Probate deal per year! Can you get some idea how well off you would be in ten years? With little work and some small market appreciation, you could have a million dollar portfolio. All from one little Probate purchase per year. I hope you can see I am using very conservative numbers for my examples because I don't want to blow you out of the water with gigantic numbers you can't get your brain around. You can use any numbers you want that apply to your area. So, can you see what a little long term thinking can do? It can make you lots and lots of money is what it can do. So drop your hot dogs and start mailing your letters. You have to be doing some long term thinking. Unfortunately, I'm still on the short term thinking program. You know what happens when you have a bunch of people over for somewhere between 4 hours and four days? You immediately get in the garbage business. We've got these huge black plastic bags stacked everywhere. I'd better check to make sure we don't have anybody napping in one. You'd think we had a Yankee-Red Sox game in our back yard! I need some of those flashing yellow lights for the top of my SUV/Garbage truck. Better get out my owners manual and check my weight limits. In the meantime, if you still are waiting to start your Probate real estate business...now's the time to take some action! © Mead Financial Group, 2008
Article Source: http://www.realworldtactics.com/articledirectory
Ron Mead has been a Real Estate Investor for the past 29 years. He has specialized in Probate for the last 12 yrs. For a free report titled; "Probate Real Estate: The Untapped Market," please visit BuyProbateProperty.com For more guerilla financing tips, please visit MakeAFlippinFortune.com
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