I recently purchased a list of distressed absentee owners. (tax delinquent list) While examining the results I noticed that a good portion of the these properties were owned by Trusts who have been in control of the homes for less than 3 years. My thinking is that I should market to them similar to probates. (more professional no yellow letters) I have two questions: 1. Am I correct with my proposed marketing approach? 2. Should I address the envelope directly to the Trust since they are listed as owner 1? Thanks in advance for any advice offered.
I lied, actually one more question comes to mind. 3. Is working a wholesale contract any different when dealing with these entities, as opposed to working with individual sellers? Thanks again guys.
Unless someone here has some specific experience the way to now is to test. Send 1/2 yellow letters and 1/2 more professional letters and compare the results. However I suspect you don't have enough trusts for a large enough sample.
I think you are assuming that the trust must be someone who is more sophisticated because they are a trust. I don't think that is necessarily true. There are a lot of Gurus telling newbies to put properties into trusts.
Ned Carey, Crab Properties LLC | http://baltimorerealestateinvestingblog.com/
Thank you for your insight Ned. I will be starting my first DM campaign in the beginning of October. I will try marketing to them and monitor the results. From my research, if there are multiple trustees all must be in agreement prior to signing a sales agreement. This will be a hurdle to jump once I get there. Thanks again!
We have a five year delinquent period in California so I wouldn't market to anyone under 5 years delinquent.
As to YLs or proltrs You should cluster your marketing so you'll send both anyway.
As for trusts.
We market to the "Most likely" and trusts do not fit.
Thank you Mr. Quarles! I continue to learn about this business from your years of experience and nuggets of knowledge. I certainly didn't know about delinquent period here. I've already pre-addressed over 60 envelopes so I'll send those out and see what happens. I once caught a fish with no bait, so it's time to cast my rod again. In all seriousness, I will definitely keep your advice in mind for the near future.
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