Are probate leads worth it?

[Sean Dezoysa]

Recently a wholesaler told me he doesn't like probates because they often come with liens. He says he prefers to wait until the liens are paid off instead of inheriting the mess.

I know probates also have issues arising from tracking down the Executor, and getting all family interests to be happy with the offer you present to him (though he has final authority). 

Does anyone think probate leads are worth it? If they are motivated I'd still think they're worth dealing with these types of issues. But I wanted to hear what active wholesalers thought.

[Ellis San Jose]

Originally posted by @Sean Dezoysa:

Originally posted by @Ellis San Jose:

"Probate leads" aren't worth it unless you have a more refined strategy & skill set to work those leads.  Not a good place to start or to be your primary source if you are a beginner.

What additional concerns are there, Ellis? I've thought of starting with them despite the additional work to get the Executor on board, because I hear it can be quite a productive list.

I am mainly speaking of my experience in my state of California over the last 20+ years. Your state may have a completely different procedures that may make my opinion invalid.  However, I've watched newbies fumble with probate leads they bought from a list broker spinning tales about what a lucrative niche it is.  Spending marketing money & sending mail to heirs & probate attorneys requires a more refined strategy & skill set that frankly most wholesalers don't have. They won't close any deals because they lack the refined skills of understanding title, working with the legal community, & competing against more seasoned professionals working that niche.  Just don't make it your primary source of deals at first, because you may starve before you close a deal, take your time to develop the necessary relationships & skills. I have many investor friends who are probate specialist & I know many probate attorneys as well & it took many years before the investors could work that niche effectively.