I am a fix and flip investor out of Chicago Illinois. I am currently fix n flipping 1 to 2 deals per month. They are all little deals, all with profit however I am looking for that homerun.
I am seeking advice on finding probate deals. How do I get the leads? Am I wasting my time going to the court house, searching public records? I really am not sure how/where to start. Any advise is much appreciated.
I think it depends on your area. For me, I find my listings every Monday in the legals in the classifieds of my local paper. Another city an hour north of here posts them 2-3 times a week. I have yet to discover what the pattern is as I just started with them. Its a slow process because its manually transcibing the information into your database. On the other hand, I've had good luck receiving feedback on these leads whether good or bad. My other campaigns I've done have had very low response rate (good or bad) and probate is much better. Its frustrating because I only have 6-10 leads per week, but its building a steady list and remarketing over and over. I'll need to listen to @Sharon Vornholt s podcast again and read some of her articles on probate marketing.
Rehabbers make their money rehabbing property, not searching court records.
@Joseph Dimaria I'm not trying admonish, merely putting light on something you already know and which may have prompted your post.
There are professional researchers in addition to commercial list providers.
How are you finding deals right now? To me, 1-2 deals per months is pretty good.
Steven Johnson, thanks for sharing. I am going to dig into this more and get my hands dirty. I want at minimum learn the process.
Rick Harmon, do you have any companies you can recommend? Also, what type of fees to charge to do this type of work?
Scot Howat, most of my deals I get from sheriff sales or REO's. Our ROI for these deals range between 30-35%. I am always looking to network, raise capital and other ways to get good deals. Let me know if you see an opportunity to work together.
Thanks! All of your input is much appreciated.
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