Any experience contacting people who inherited properties?

Question

I know this is a sensitive subject but I am sure there are opportunities to find win-win solutions for both parties.

Have you been successful with these kinds of opportunities and would be open to sharing your experience?

Also, have you had more luck in contacting the owners by letter or meeting them directly in person?

Interested in hearing your stories!

Account Closed · Answer

My mother recently died and I am contacted relentlessly.  I just advise that you pretend that someone you dearly loved just died and how would you want to be approached?  I can tell you that just because you start out your phone call or letter with "I appreciate that this is a difficult time for you" will not get you very far, followed by a hard sell that obviously doesn't care one whit about the fact that someone you loved just died.

If it was me, knowing what I'm going through, I'd just be direct.  "I buy properties at a fair price and will treat you with the utmost respect."  I have not received anything like that.  You would stand out.  Most offers don't show one inkling regarding that this is about someone - a real person - who just died and left loved ones behind.

I have actually filed complaints against agents and lawyers who have skirted the laws regarding how they have approached me.  So, be careful.  Most agents and investors assume that heirs are idiots.  They may just be lawyers.  So, start out by assuming that you are dealing with an heir who loved the person who died and who may also be a lawyer.  Start out with that assumption, with respect and a fair offer, and you may get somewhere.

Joe Homs · Answer

@Axel Lafortune I believe that you are referring to "Probate" deals?  I am running some through my advertising efforts right now.

1.  Get a list from an attorney or other list sources out there.  The list I purchased is complete with all the information you will need.  (Not mine, I just found a link on google.)

2.  I start out by emailing to the petitioner. (Total of 8 over two weeks)

3.  I then send out a text directing them back to my website.

4.  Most people on my list are out of town so I do not door knock.

5.  You can try letters, but it does not work for me.

Wait for a response.

Good Investing...

Mark Johnson · Answer

@Axel Lafortune I am a real estate agent in St. Louis, MO and probate is my main source of business outside of referrals.  It varies by location here in the US and I have no idea about Canada but I am able to pull all the information (name & mailing address of the executor and the address of any properties that are apart of the estate) for free from the court's website.  I use a paid service to locate the phone numbers of the executors.

I usually call them a couple weeks after the estate first appears in probate court.  The calls are not nearly as scary as you might think.  The top 2 responses I get are 1) "we are not sure what we are going to do so call me at a later date" and 2) "we got it all taken care of".  Vary rarely do I get yelled at for reaching out to them.  It has happened and it sucks but it has only been 4~5 times over the last 2 years.

I completely agree with what  Account Closed said.  Do not offer any sympathies or condolences.  Keep it professional.  The better I got at doing that, the more business I picked up.  I will say that I am one of the few realtors prospecting them (and usually the only one calling them) so I tend to stick out more than the investors who are giving low ball offers.

Lastly, AllTheLeads.com offers a good course on prospecting probate leads.  I highly recommend it.

Feel free to reach out if you ever want to talk more about it.

Joe Homs · Answer

@Axel Lafortune there are companies that sell the information you are looking for. I get mine from a local probate attorney here in Orange County.

Good investing...

Axel Lafortune · Answer

Account Closed Thank you for your recommendations, and the detailed explanations. I will be direct and focus on respect when calling people.

AllTheLeads seems to be an amazing resource, but here in Canada I haven't found anything close to that. Right now I am pulling adresses from the Land Register but often there is no phone number.

Account Closed · Answer

I think it's a blessing there is no phone number.  I don't want to print here the language I would have used toward you if you called me.  I actually had a lawyer call me, and I answered - knowing that he wasn't allowed to do so as a lawyer- and I gave him a piece of my mind and also complained about him to the bar association.  Why, even if you had the best of intentions, call someone in their distress?

I highly suggest you write to them and make your written material stand out from the rest.  This gives them time to reflect.  Make yours one that will get put aside and not shredded.  Make it genuine.  Pretend you were the person receiving it, and that you were someone just as smart as you, and just as aware of how there are people like you hoping to profit from their loss.

I think the person able to do the above will be the one most likely to succeed and profit in a fair manner.  It's the ones who hope to unfairly profit from the loss of others who, in my opinion, are the ones most likely to fail.  Just think.  If you could truly help people and not unfairly profit from their loss - and don't kid yourself thinking that you will profit in a huge way in a noble way and that you really mean to "help" people, if they are unaware of your profits - then, you will do well and be able to sleep well at night, as will your wife/husband and children.

In other words, do the right and noble thing first and foremost.  Are you doing that?  Would you treat your own loved ones the same way?  Would you want someone else to treat your loved ones the same way?  Would you want your widow or widower treated the same way?  Yes?  Then, great.  Carry on.

Axel Lafortune · Answer

@Joe Homs That's right, I was referring to Probate but didn't know the english term since it's called a different way here in Quebec.

Thank you for the tips!

What I am aiming at is to find Probate deals where the creditors don't live in the property but I am now evaluating wether I might have more chances finding their address and knocking on their door or trying to advertise.

I find your approach really interesting!

The thing is if I want to try advertising I need to find a way to access the creditors mail and phone based simply on their name (which I have)

Any experience contacting people who inherited properties?

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