Is Anyone Having Any Luck Doing PROBATE? HOW?

Question

Is anyone actually doing any good going after probate properties?

I've been going to the courthouse and getting the probate files for the past few months. I'm sending letters to the executor or independent administrators and the heirs.  I'm offering to discuss the sale of any property they may be dealing with in the estate. I'm sending to estates that list RE of any value.

Does this work for anyone? Is there a better stategy?  I'm trying to find my first deal.

Nick J. · Answer

there is a Probate group here on BP. Its not very active as Probates isn't a sexy topic among many investors.

I never got into it more than marketing and selling leads to realtors. Now that I am licensed, I'll be doing some as an agent hopefully and as an investor. Now, I just gotta find someone to sell me fresh leads :)

Donovan R. · Answer

Anybody have any updates?  I Read the "Probate Profit Machine" by Scott Riser and am starting a campaign this week, sending out about 100 letters to the recent probate cases.  I was thinking I might see a better response if I wen to the courthouse and started with the deals 3 months into probate already.

Dick Green · Answer

Sounds like you have a workable system in place.  My only successful probate deal  just fell into my lap.   Someone called me and wanted to purchase a property going thru probate.  Fortunatly she knew the heirs and it was easy obtained heirship affidavits and getting everyone to settle on price and concessions.

I have had some probate nightmares where heirs literally wanted to fight.  Yet, I still contend that if you work your system...your system should work.  You might want to look into forclosures where the taxing authority or lien holders are seeking remedies from the XYZ or the heirs of XYZ.

Personally, when I first went into the business I needed money yesterday and couldn't fray the cost of long range experimentation.  Hence I orignally and still do....look for transactions that can close in several weeks tops.

Still I agree with the previous post, "that the race is not given to the swift, but to the one that endures to the end".  (taken from my favorite book)
If you will to try and contact someone twice you will excell 65% of the individuals in the industry.  If you try to contact someone three or more times you'll surpase 75 to 90% of you competion.

Hooolaaaa! Burp! :beer:

Bryan Casteel · Answer

Hi fireman,

I have had some very good deals from estates, but they didn't come to me from a "death mailing" - morbid marketing angle for sure.  The deals I got are from mailings that I made to people who owned property in my county but lived out of state.  It is a bit of a back door into the estate world.

I am going to start with the death mailings soon to see what I get.  One thing to watch out for is the amount of time from the origination of the estate to when you send the letter.  Most people aren't worried about the real estate for awhile and the probate courts might hold things up as well.  You might try to send a series of letters/postcards over a 1 years period.  If you don't get them at the right time with the first mailing, you might hit them at a better time with the 3rd or 4th mailing.  Plus, your tenacity will pay off because you competition won't send repeat mailings, they will just give up.

Larry Karp · Answer

I guess there is no one having any luck with probate? Is it that bad a route that there is no good advice?
Larry

Is Anyone Having Any Luck Doing PROBATE? HOW?

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