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Updated almost 2 years ago, 01/26/2023
Probate
O.k. I finally got down to the courthouse and looked at my very first batch of probate files. It was interesting and confusing at the same time. I know who passed away, their address, etc. But how do I chose the files that I want to market to. The addresses were all over the place. I was thinking I should chose addresses that were in my farm area. What do I do if the deceased has a spouse or children living at that same address. I just would like some clarity on how other investors chose their probate leads when going to the courthouse. What criteria do I follow besides know the deceased, their address, etc.
@davidbattle
Decedent
Decedent Address (Property to buy)
Executor
Executor Address (Mail to)
That is it if you're doing a direct mail campaign.
Originally posted by @David Battle:
What info do you need to market for probate leads?
Below is the info that I thought might be valuable but I'd like an opinion from someone who's doing it currently.
1. Case Type (e.g. Probate with Letters, Letter of Administration, Trust, etc)
2. Decedent Name (Full)
3. Decedent Address (Full)
4. Decedent Date of Death
5. Main Party (Executor/Executrix/Administrator/Claimant/Petitioner/Heir/etc.) Name
6. Main Party (Executor/Executrix/Administrator/Claimant/Petitioner/Heir/etc.) Address
7. Other Party (e.g. Attorney) Name
8. Other Party (e.g. Attorney) Address
9. Other Party (e.g. Attorney) Telephone Number
I'm currently speaking with someone from my area to obtain a probate list. I just need to make sure I'm getting what I need if I'm going to be paying for it.
Thank You
I've backed way off probate filings as a lead source. Too much competition and too many lawyers. Death of a decedent with real property is the real lead IMO.
@Account Closed I thought it would be a good place for me to start as a beginner investor. What would you recommend?
Originally posted by @David Battle:
@Account Closed I thought it would be a good place for me to start as a beginner investor. What would you recommend?
Man, I just told you my best lead source. What more do you want? :)
Go ahead and contact estate attorneys. It's a great learning experience and any marketing is better than none. If you can, think like an heir. What would you do? Who would contact if you inherited a property, and why?
@Account Closed I'm a newb bare with me please lol. Would that still be considered probates and I could still get them through probate records?
Originally posted by @David Battle:
@Account Closed I'm a newb bare with me please lol. Would that still be considered probates and I could still get them through probate records?
No, I'm talking about tracking deaths back to property ownership records, to find out if someone who died owns property. Then contacting the other owners or heirs.
I suggest you stay the course on the probates for now. Like I said, you'll learn a ton about property and what motivates heirs and sellers.
@Account Closed Thank you for your help. I think I'll stick with probates for now as you recommended. I just need to get a list first to start my marketing. I really need to get the ball rolling
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Originally posted by @David Battle:
@Account Closed Thank you for your help. I think I'll stick with probates for now as you recommended. I just need to get a list first to start my marketing. I really need to get the ball rolling
She's suggesting that you think this through. You are responding by NOT doing your own thinking. KPM thinks smart and uses her time and resources well. She focuses on the target with certain history patterns not the fact that a probate is open.
If you aren't ready to think for yourself yet, at least take action. There are plenty of people who consistently take action and make a decent living.
Originally posted by @Rick H.:
Originally posted by @David Battle:
@Account Closed Thank you for your help. I think I'll stick with probates for now as you recommended. I just need to get a list first to start my marketing. I really need to get the ball rolling
She's suggesting that you think this through. You are responding by NOT doing your own thinking. KPM thinks smart and uses her time and resources well. She focuses on the target with certain history patterns not the fact that a probate is open.
If you aren't ready to think for yourself yet, at least take action. There are plenty of people who consistently take action and make a decent living.
I understand KPM's intentions just didn't understand the terminology and process enough to know she was dropping jewels. Taking action is not an issue for me once I know the direction I need to head in. If you're marketing to the wrong people it's wasted money and time. I can't afford to waste any of those right now so I need to plan wisely. I also just subscribed to your newsletter to see what I can learn from there.
I was contacted by the owner of a piece of prime land that've I've always wanted. This person claims he is the sole heir. He doesn't want to deal with the whole probate and I told him I'd check into it for him if we can agree on a price, which we did.
How much does a probate cost and asking that question and knowing it depends....however, anyone in Georgia have a general rule of thumb?
If you use an attorney, expect approximately $1,500 to file for probate. Also beware the guy simply asserting that he is the sole heir. While he may be completely truthful, you don't want to find yourself in a situation where there are dead siblings with living children of their own, or out of town heirs who need notice, etc... It's a great opportunity for a deal, but it's also a great opportunity to get scammed.
Originally posted by @Sam Bagwell:
If you use an attorney, expect approximately $1,500 to file for probate. Also beware the guy simply asserting that he is the sole heir. While he may be completely truthful, you don't want to find yourself in a situation where there are dead siblings with living children of their own, or out of town heirs who need notice, etc... It's a great opportunity for a deal, but it's also a great opportunity to get scammed.
Hello, I wanted to connect with a probate professional (possibly in Atlanta) about a property that may be of interest.
1) I'm not attempting to market/sell this deal. At this point, I think the property has potential, but I'm not fully equipped or educated to handle it.
2) I would be interested in observing how this property goes from a problem to a profit, if it is actually profitable.
3) Please message me if you would like details. I have built a report with the heir, so I'd prefer to introduce whomever is more qualified to help this person.
Iris
In terms of contacting the attorney, I think that it is worthwhile to reach out to attorneys in the mix, with managed expectations.
You may not get the deal at hand, but if you are in it for the long haul, a sustained campaign can yield a reservoir of referral leads. In terms of differentiation, how about offering, with the attorney's permission, to take a photo of the estate home and share the photos with the attorney? Remind them that the estate does not want to get mired in code violations or deferred property maintenance issues.
In terms of singling out properties, diligent court research should bear out where the Personal Representative resides and their relationship to the deceased, and you can flag those PR's that live out of state, as there is more urgency to sell - they likely don't want to travel on their own dime to maintain a vacant home or play landlord.
From my experience, I would pay more careful attention to whether the PR is a spouse that lives under the same roof. The spouse seems to have more emotional attachment to the estate home than the children.
@Kevin Raye probate is kinda easy..just follow the steps.. It's like 123👍🏿
I want to share my thoughts on this topic since I am now on both sides of it. My Dad passed away not even a year ago and I am his PR. I have been receiving letters since he died and I find it appalling. I cry every single time! I owned the home already due to a right of survivor-ship in our deed. The letters started not even two weeks after he died, before the case was even listed in probate. Now I am also getting into REI and some of the tactics I see being used to coerce people into selling properties for less than they can get turn my stomach. I find it opportunistic and heartless. Maybe this isn't going to be the career for me after all. Oh and I just went on FB and reviewed the latest one person who did this to me so the public can see what he is all about. Most people I know would NOT like this done to them at all.
@Jenet Christiansen I am sorry to hear about your loss. As with any profession, dishonest people give a bad name to those of us making an honest living. Some situations are just not appropriate for Realtors, and the MLS. These are the people the experienced people are looking for. They provide solutions to those who desperately need them. An investor will not pay full market value, as they need to make a profit, so if it is a marketable property, and there is no urgency to unload the property, the MLS is the best solution.
My question to you is this:
Knowing that some people need the assistance of an investor, is there any marketing you received that was not offensive? What could one have done to be more appropriate?
@MICHAEL YBARRA how often do you hit the same probate list even if you call and email the attorney and p r
Quote from @Rick H.:
As my attorney list is nearly 8,000 and have been working this referral method for 25+ years, I have some experience marketing in the legal niche.
One is that I go out of my way to communicate with all persons in a professional manner. That includes how I address them in all written and verbal media or directly, in person.
I don't ever recall addressing any attorney (or other human being) as "Brotha" as I did not grow up in the hood and don't wish to be thought of as someone who is dependent on street language jargon and affectations to do business.
If you want to attract money, my experience has been to use the language of business. If you want to be successful working in the legal community, use the language of the law and the courts.
I leave the "yo's" and such to hip hop rappers and online marketers. Not trying to tell anybody how to talk; just my opinion.
Hi Rick, are you still in the business and would you be willing to have a brief discussion with me about this topic?
Yes, I am new to this but I am extremely hungry to be successful with it and I am very determined to make this work.
I will not waste your time, I can assure you of that.
Thank you!
Tyler