All Forum Posts by: Alison M.

Sharon Vornholt and other probate investors: Here's the place where I always get hung up. How long after the probate is announced in
the paper do you start mailing? If the decedent passed away within the previous 6 months I am unsure if it's too soon to start mailing. Suggestions?

Hi Deadrick - this is such a huge topic I think it's tough to narrow it down to a few sentences. But the biggest marketing lesson I've learned in 5 years of full-time investing is: JUST DO LOTS OF IT. Don't overthink it! Just do it! Start with one method and then add others as you get more experienced.

Read the posts here from the marketing specialists, make your best educated choice, but then get the marketing out there regularly and on a repeat basis, and do enough to get your phone ringing. Track and see what works in your market, then do more of it. That's pretty much it!

Don't get hung up on devising the one, best, perfect, killer marketing campaign before you get started because there isn't one. You will learn as you go, and read this forum every day. Good luck!

Not to stray from the topic at hand, but I second Sharon's comment. There is no reason why you can't have a contract on the probate deal, pending completion of probate.

I'd recommend keeping your job a while longer and buying the duplex while you're still employed. It will be very very difficult to qualify for a mortgage if you are self-employed.

I'd suggest renting out both sides of your duplex at first, to maximize cash flow, while you live rent-free with your sibling. Then you'll have three streams of income - job, tenant #1, tenant #2. Do that until you have at least a year's salary built up at which point you will have a lot of options and much less stress.

I worked a corporate job for 20 years and understand that they're no picnic, but being self employed with uneven cash flow is even worse. Prepare yourself before you make a change.

Michael Quarles, interesting about the pink post cards. I will test-drive them soon. Thanks!

For those wondering about Click2Mail's color postcards: I have used them for 5 years and always been happy with their service UNTIL I tried color postcards. The ones I saw from those color batches had smudged text and gouges in the background color, kind of like when nail polish gets messed up before it dries. Very disappointing.

Hi Lauren,

I am in the District of Columbia and Northern Virginia, which is a very active and competitive market. If it's any help, here are my numbers for 2013 so far:

8747 pieces mailed
7 contracts
1 closed

I am trying to mail 2000 a month consistently for now and keep nudging that number up until I'm maxed out!

Alison

I will also be interested in hearing about your results Michael Quarles.

I was just reviewing threads here about QR codes last Saturday when I prepared a big mailing. Then our USPS mail came in and my husband did a spot survey of direct mailers, and found no QR codes on any of them.

I decided not to use them this time but the question is still open.

Thanks Sharon Vornholt. I like the ad idea.

I am not anti-lawyer by any means, but my personal experience working with probate attorneys has not been positive and I've seen some actions that didn't look to be in the best interest of the client or the estate. I would much rather have the attorney seek me out via an ad and "interview" them a la Michael Quarles than do a mailing.

On the other hand, my experience mailing directly to PRs and heirs has been overall very good.

Good news Jaamal. Hope you find your buyer fast from that group.
If not and you need a larger audience, you can also consider e-mailing to the membership of your local REIAs in the area. That's how a lot of deals get done in my area. Just be sure to read your club's rules about postings before you blast everyone ;-).