Procuring Properties Through Probates

[Jason Hairston]

Hello Everyone!

I will reintroduce myself as I have been away from BP for almost 2 years now.

My name is Jason and I will be graduating from Morgan State University in May of next year with my degree in Finance, which is one reason why I have not been actively investing (no excuse I know).

The urge to become an investor has never left as I tried numerous times to pick back up where I left off to attempt to complete my first wholesale deal. Whenever I would come across a new road block I would stop for a few months and try again at a later date instead of figuring out ways to bulldoze through them. Even though I haven't been actively investing I am constantly looking for ways to educate myself in this business such as reading books and blog posts, listening to podcasts, watching videos, and attending a few local meet ups.

During my research and preparation, I have found a niche that I would like to really focus on.

Today I visited my county courthouse and interacted with the Register of Wills Clerk who was kind enough to show me how to use the system to check the open probates list. The only issue with that is I will only have access to the system with the full details when I visit the courthouse. I was able to retrieve the following information for about 25 properties before they closed: the Decedent, Personal Representative's name and address (sometimes phone numbers if available) and whether or not the deceased owned real property. I have a white pages subscription where I plan to obtain the remaining phone numbers right after I finish this post. I am also familiar with looking up properties on the Tax Assessors website, Real Property Search and utilizing Maryland's Land Records.

My question to you all is how should I proceed forward with this data?

I have a title company that I will go through when it finally comes down to closings, should I ask them to do a title search for each property? Since I want to base my business around cold calls, should I call the PR's or Attorney's first to ask specific questions regarding the properties ? Should I mail them a postcard with my name and number? Or do both? 

I have always been a peoples person and I'm always looking for ways to assist individuals. My main reason for getting into the financial industry was to help people but after working in banking for a little over a year, I'm starting to see that this industry does not support my core values at all.

All constructive input is welcome.

Thanks to all,

Jason

[Ned Carey]

@Jason Hairston

Contact the personal representative and ask if they estate has property they want to sell.

NO, a title search is not done until you have a property under contract. 

Do both and test which works best.