Probate Properties Are the Best Real Estate Deals – But How Do You Find Them?08.01.2019
If you are like other real estate investors, you are constantly searching for more ways to grow your business. You search to buy houses in foreclosure or a short sale. You’ve probably purchased REO property that has fallen short of getting any bids. And you may have purchased houses from a wholesaler.
But have you looked at probate leads? Probate leads are an excellent source of potential clients that have inherited properties they don’t need or want. And they are often eager to make a quick sale after the legality is completed so they can liquidate the assets and move on. It isn’t unusual for an heir to live in another city, state, or even in another country and they don’t care to have ties to the area where the house is located.
On many levels, for a real estate investor, a great marketing funnel comes by way of Probate Leads. The savvy investor knows how and when to secure the best deal for the highest profit margin with these properties.
How Do You Get Started in Probate Leads?
We have found a few steps that make it simple to get started investing in Probate Lead properties to share with you—and it is easier than you may think:
- Purchase Probate Leads
Always work with a trusted source and Always work with a trusted source and confirm that all the data you receive from the seller is accurate and upfront.
- Create A Mailer
Or find a reputable company to work with that can develop a mailer for you. Keep it simple, straightforward and open it by offering your condolences for the loss of their loved one.
- Mail A Handwritten Letter or Postcard
Send one directly to each executor of the will and then send a follow up every 60 days for 18 months. Not all probate properties are listed right away; it may take the executors and family some time to decide what they need or want to do with the property.
- Always List Your Phone Number
And always monitor those callbacks. Be able to talk when you answer those calls so that the executor or heir knows they can count on you to be there.
- Offer Your Assistance
Remember the executor and heirs may be struggling with the loss and are uncertain how to settle the deceased’s property. This can be an overwhelming time for them, so by showing you are there for them to help in any way possible will keep your face, name, and phone number at the forefront of their minds.
- Be Honest with Your Role
And be upfront with what you have to offer them. When an executor or heir makes that phone call, this is an indication they are ready for the property settlement to be done. If you let them know you’re there to make it as easy and painless as possible for them, they will often sell at below-market price just to be done with it.
- Never Quit Working Those Leads
Not all leads amount to a big sale, but when you do find one where the current owners are ready to be done with it, your investment of financial and physical means will pay off.
These are only a few steps toward a successful strategy with probate leads, but they will get you started. And always remember to ask questions! The opportunities out there are endless and waiting for you to grab them.