Rental Property Investor · Baltimore, MD · Member since 2009 · 624 posts · 559 votes
17y
As I mentioned in another post on probate... this is a great way to find motivated sellers.
The challenge of course is consistency and follow-up.
Let me explain...
By consistency I mean that you have send out a fair number of letters every week. These letters have to be focused on the issues the heirs may be facing... and the less you talk about yourself, in my opinion, the better.
Continuing with the consistency theme... you should plan on sending a follow-up letter 6 -8 weeks after the first one was sent.
Now for follow-up. I have seen on many occasions where an investor will speak with the executor/heir and at that time the investor could not get the price they needed... and moved on to other deals... only to find out a month later someone else got the property.
Always... always... always... follow-up. This is as true with probates as any other seller. Situations and circumstances change.. so you want to follow-up to make sure that when they do... you are there to capture the deal.
One other thing about dealing with estates... remember that your number one job in this negotiation is to solve the estate's problem. In many cases this can be as simple as taking the property will all of the contents and disposing of them for the seller (remember many heirs are from out of town/state) and the last thing they want to have to do is clean out a house that has 30 years of accumulated stuff.
Real Estate Investor · Austin, TX · Member since 2009 · 75 posts · 38 votes
17y
Hey Mike, where did you buy a probate list for $3? That's pretty good, I haven't found any companies who supply probate leads nationwide in the form of a list yet. I'd imagine because it is so time consuming to do so....
Also, what made you switch to mobile homes and mobile home lots? I've heard you can do well buying the land under the mobile homes...Never done it though. Thanks for any advice.
Rental Property Investor · Baltimore, MD · Member since 2009 · 624 posts · 559 votes
17y
As I mentioned in another post on probate... this is a great way to find motivated sellers.
The challenge of course is consistency and follow-up.
Let me explain...
By consistency I mean that you have send out a fair number of letters every week. These letters have to be focused on the issues the heirs may be facing... and the less you talk about yourself, in my opinion, the better.
Continuing with the consistency theme... you should plan on sending a follow-up letter 6 -8 weeks after the first one was sent.
Now for follow-up. I have seen on many occasions where an investor will speak with the executor/heir and at that time the investor could not get the price they needed... and moved on to other deals... only to find out a month later someone else got the property.
Always... always... always... follow-up. This is as true with probates as any other seller. Situations and circumstances change.. so you want to follow-up to make sure that when they do... you are there to capture the deal.
One other thing about dealing with estates... remember that your number one job in this negotiation is to solve the estate's problem. In many cases this can be as simple as taking the property will all of the contents and disposing of them for the seller (remember many heirs are from out of town/state) and the last thing they want to have to do is clean out a house that has 30 years of accumulated stuff.
Commercial Lender · Ocala, FL · Member since 2008 · 60 posts · 4 votes
17y
the most comprehensive Course on buying Probate Properties, was supposed to be from: J. G. Banks....
He used to charge 6K for his training.
I was able to buy it thru them for about $300., @ $50. a month for 6 months.....it made it easy to buy.
It is very comprehensive.
You are taught how to go to the County Courthouse & search through the records & find the potential Properties, & how to contact the Heirs, who are to be the new Owners, & make an offer.
Quick Notes: Stacy Kellams' "Probate Power Profits" is a newcomer to the field. Stacy has a good name in the industry and is getting good reviews.We are currently negotiating to get a course
discount for you. We will post here as soon as we have one available.
Cost: $1997
Full Report: Click here for free full report and all users feedback.
Real Estate Investor · Fremont, CA · Member since 2010 · 68 posts · 19 votes
16y
Rating: This is a notification service, not a course.
Quick Notes: Probates Daily is not a course but rather a service to investors looking for probate properties in Florida and North Carolina.For if you are wanting someone to do the legwork for you. A simple and quick way to get all the leads you want. Should be available soon in all states.
Cost: $29
Quick Notes: Ron Mead's "31 Days To Profits In Probate Real Estate" is the most popular course on how to quickly and easily get started in Probate Investing and the best value for money. Read the full report on why this is the most popular for the third year running.
Cost: $59
Investor · Houston, TX · Member since 2013 · 85 posts · 18 votes
12y
There are a couple of people that sell those Leads in a list source for the whole Harris County, monthly for under a dollar per lead but you would have to spend about 500 to get that deal. Which is still a great investment that will save you a lot of legwork!
San Antonio, TX · Member since 2009 · 3k+ posts · 1k+ votes
10y
If you're interested in probates, you may want to connect with @Sharon Vornholt. She's been pretty successful with them and has written about this topic extensively on the BP blog. Hope that helps!
Contractor · Skippack, PA · Member since 2014 · 228 posts · 39 votes
10y
here is a topic back from the dead. Most counties make it easy enough to check public record for probate. From there market in your favorite way. A white professional letter is typically preferred for probate.