How Do You Find Those Probate Properties?04.10.2020
What real estate investor doesn’t want to grow their business? To do this, it is a constant search to find better and new ways with as little risk as possible. There is always the tried and true way of buying foreclosures and short sales, and then buying REO properties is out there too. For real estate investors, real estate wholesalers can be a great source of good property too.
What about probate leads though? They have proven to be a source that has only slightly been tapped into but has proven to be a great source of potential clients. Every day, somebody passes away and leaves properties to their family and other beneficiaries that absolutely do not need or want those properties. Those are the people that are eager to liquidate inherited real estate, so you can be pretty certain a quick sale and transaction will be what they’re after.
Why do they want to sell this inherited real estate property so quick? There are many reasons, such as they live out of town, out of state, maybe even out of the country. There isn’t anyone or anything that the beneficiary is connected to or nostalgic about. Or perhaps they need the money to settle up the estate of the deceased. Knowing how to secure the best deal at the highest margin and when to strike is what makes a savvy investor, and probate leads are the ones to hit.
How Can you Get Started with Probate Leads?
Believe it or not, there are just a few simple steps to get started with Probate Lead investing:
A Trusted Source
Find a source you can trust to purchase Probate Leads from and only work with that source. This source should be somebody you can confirm the data is accurate and upfront.
You can do it yourself or lighten your schedule and hire a reputable company to create your handwritten mailer. It should be simple and straightforward about your purpose while offering your condolences.
Make It Handwritten
Send a handwritten letter or postcard directly to each executor of the will. After 60 days, send another and again in 18 months. Often, probate real estate properties aren’t listed immediately as the executors and family members decide what they should do with the property.
Have your phone number visible on your handwritten letter or postcard and make yourself available for every callback that comes is. The executor and heirs need to know you’re there for them.
Extend Your Assistance
The executor and heirs are likely still struggling with their loss. Knowing how to go about settling the deceased’s property can be overwhelming. By showing them that you are there for them and have answers to their real estate questions will be comforting for them. They’ll have your face and name memorized.
Always be honest and upfront with what you’re offering. The phone call you get from the executor or an heir is the sign that tells you they are ready and want to settle the real estate part of the deceased’s property. By confirming you’re there for them and will make the process as easy and painless as you can, will mean everything to them.
Every lead will not get you that big sale, but never quit working those leads. That next phone call could be the one that brings you the big payoff you’ve dreamed about.
These aren’t the only steps toward probate lead success, but they will get you started. Find your source and don’t be afraid to ask questions. Probate leads are opportunities out there waiting for your handwritten letter or postcard!
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Photo by Melinda Gimpel