Does anyone market to Probate?

Question

Dev Horn · Answer

You discovered one of the challenges with probates - often, we do not know from the filing is any real property is included in the estate.  The inventory of the estate is often completed after the initial filing.

We've found this group to be productive, but you have to farm this group carefully, nurturing them over time, in a very professional and respectful way.  It's not a quick hit so don't do the one mailing and then quit when you don't get a deal - you'd be better off not to market to this group if you cannot touch them on a consistent basis for 6 months to a year after the probate filing.

Rick H. · Answer

I don't think a single day goes by that someone doesn't post a question about how to find probate deals.

Given how much is generated in this topic, you should have no problem using the search function and finding other posts, along with Sharon's Podcast, and perhaps some other gems.

There are a number of marketing strategies to acquire probates. The fastest is to pull courthouse records and use direct mail to reach the decision makers. You either need to pull the info yourself, pay someone, or find a reliable service. It's actually better if the info is not easily available since that is a barrier to competition so don't complain about the inconvenience and expense.

Don't waste your time with attorneys as I can give you at least five reasons they don't want to hear from you, as I have decades of successfully marketing to them.

Also, understand that estates are where the money is made but it may not be how you think it's made. There's a lot more to know than just finding the property. Happy hunting!

David Torres · Answer

Hey Stephen,

The property that the estate will most likely need to liquidate will be located at the address of the decedent. Also, if the petition for probate has just been filed, the PR  will not yet have permission from the court to sell. More importantly, their motivation at the early stage will be very low. After, they have received letters of administration( about 60-90 days from initial filing) and the creditors start calling, the motivation should increase. I'm on my fifth mailing to my first list of probates.  It's a grind, but I know that if I keep on churning, eventually the cream is going to produce some butter.

Good luck

Stephen Barton · Answer

@David Torres thank you for that piece. I am digging in and learning as much as I can from various resources and nobody has said that yet. I really appreciate your insight. Thanks!

Stephen Barton · Answer

Thank you @Dev Horn @Rick Harmon @Thomas Weir all great advice. I plan to market to them for at least 6 months or until they say stop or I actually am able to purchase their property. This trouble in my county is the names are listed including the executor(rix) but there is not one address for the property. Is there any service that you guys would recommend to determine equity as well as the addresses of both subject property and the address to the interest holder of the estate? I know it is not going to be easy but this is an area where I feel comfortable. Thanks again you guys!

Thomas Weir · Answer

@Stephen Barton  The probate  I got was from word of mouth, but have you reached out to probate attorney's? Let them know what you do and they may send some your way.  To determine if there is equity in the deal, you would probably need to get that information by speaking with the executor of the estate.

Does anyone market to Probate?

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