When targeting probates, how far out do you go?

9 Replies

I'm working on my first campaign and contemplating how far out of my area do i want to go . I'm in orange county and had some San Diego and far Los Angeles probate leads. I guess i need to know if targeting far cities will require too much driving thus i should concentrate on a smaller circle around me ?

I am in Orange County as well and only do deals here. I would concentrate no farther than 30 minutes away if you are just starting out. If you are going to wholesale the deals I am always looking. Let me know and good luck. 

@Abraham Hodroj

I wouldn't restrict myself to 30 minutes away if all I was marketing to was probate leads. There will be too few leads available. 

You have to ask yourself if you're wholesaling in So Cal how far are you willing to drive to make $5-10k. If all you're willing to drive is 30 minutes in any direction you may be limiting yourself to no more than 1-3 dozen workable probate leads per month. 

Now if you're marketing to absentee owners or vacant houses or foreclosures where you have much higher numbers then by all means restrict yourself to a smaller area.

@Abraham Hodroj You can offer those other leads outside your target area to other investors. Make it worth your time and money, though.

And as @Guy Olds said, open up your target list to include absentee and vacant homes, too. Even foreclosure/pre-foreclosures. Don't limit yourself at first and then hone in as you get to know the market and areas that are moving.

@Joe Homs Thanks Joe. I will save your info 


@Guy Olds Thanks Guy you always have been there to help when i post questions regarding probates.  Good points, i will be targeting absentee and probates. 

Your point "would you be willing to drive out 1+ hour to make $5-$10k?"  is an eye opener however, how solid the lead needs to be for me to drive? i guess by then i have to have qualified the prospect  before driving out correct? 

@Abraham Hodroj   Yes you are correct. You will have qualified the lead before you drive out to see the property. Either they called you or you called them and you decided they are 1) motivated and 2) want to sell and 3) there's a good shot at a discount. Now all you need to do is drive to the property to determine the repairs needed. And then make an offer. There's no guarantee you get the deal. There could be a dozen other investors making offers on that property or just one other. The question I ask myself is how far would I be willing to drive to have a shot at the deal (or how much time do I have). And I market to those areas only. For example, I won't go to Ventura County because of the traffic I would have to fight at all times of the day.

Originally posted by @Abraham Hodroj :

I'm working on my first campaign and contemplating how far out of my area do i want to go . I'm in orange county and had some San Diego and far Los Angeles probate leads. I guess i need to know if targeting far cities will require too much driving thus i should concentrate on a smaller circle around me ?

 What's your system for receiving and qualifying leads? Do you drive out to see the property? Do you do so immediately or take a chance and wait until it's convenient for you or never ever go at all?

I ask these questions because if your system (you do have a system don't you?) requires much time and effort in follow up, you'll want to consider traffic and distance.

I had around 60 probate leads come to me last month alone. Almost all leads are by referral due to my positioning and reputation as a center of influence within my target market.

I never meet clients and have not since 1996! I have very detailed systems for processing inquiries, leads, qualifying, disqualifying, researching, processing and follow up. Therefore, I refuse to meet with prospects who refuse to do business on my terms.

Since you only buy one property at a time, decide in advance how far you are willing to go to close a sale.

Btw, I will be speaking near you (Irvine) September 16th.

@Rick H.

Where in Irvine will you be speaking?  I presume it's about real estate. 

I will be speaking at the Investclub For Women meeting at the Asian Cultural & Heritage facility. You can search their site, great group, high energy women (and guys are welcome, too).

I'll post more info on my newsletter (which I finally got out today after several month's hiatus). Details to follow next week.

@Rick H.

That's great, I've been to their meetings a bunch of times.  I'll try and go. 

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