All Forum Posts by: Corey Hassan

@Dave Metsker 

Great point, so just to clarify are you saying I should try to connect with the real estate agent and heir since this could potentially help the heir?

@MICHAEL YBARRA 

I like your train of thought, my only question is what would be the best way to approach the realtor in trying to establish a solid relationship that could benefit both parties further down the road.

@Joseph Ball 

I'm assuming it all depends on the heirs train of thought.  If he/she is looking to rid of the property as soon as possible to continue with daily tasks in their lives than this could be an easy solution.  However if the heir has no problem with waiting and trying to get top dollar for the home than this obviously wouldn't be the best solution. (not sure if I completely understood what you were saying).

I would love it if I could get some insight on a question I have from some Probate experts on this forum.  I have followed Sharon Vornholt and Rick Harmon as they seem to be experts in this field.  I reached out to some probated recently and an agent called me responding on behalf of the executor.  I did read a similar thread before and it seemed like people suggested straying away from dealing with the real estate agent but was wondering if I should pursue this.  They had to have just received the letter today and she called me first thing this morning which makes me believe perhaps there is some motivation.  The real estate agent left me a vm saying that it has not been listed yet and asked if I would like to come take a look at it before she puts it on the market.

I would like to reach out to gauge the motivation level, but definitely would appreciate any feedback from those with success with probates.

Thanks!

I've been cross referencing the properties on my listsource list and have found a few so far that are currently listed on the MLS. Seems like it would be a waste to mail to these people since it is currently listed on the MLS but was curious to see what others peoples thoughts were if it would be worth it to still reach out.

In one instance I saw the property listed multiple times before and the price dropping significantly, however, I am sure that MANY other investors are noticing this as well since it is on the MLS. Wanted to see from perhaps some more seasoned wholesalers if they would still pursue this.

Thanks!

@Derek Carroll 

Thanks for getting back to me.  All seem like good options.  A quick questions though.  I am still a bit new, would you mind going a little more in depth about how I could make this approach work

"maybe you can get it tied up with a long term option and find a buyer to pay more. Finding a buyer could take a while."

Thanks Derek!

Hi BP,

Any advice on my current situation would be greatly appreciated.  I sent out a letter to absentee owners last week and was contacted today by someone who owns 20+rental properties and inherited a smaller commercial building previously used for offices/small businesses and is roughly 4000 sq feet. 

The investor told me he initially began to convert it into multiple condos but with his age and other properties it is something that has been on the back burner for some years now.  He began work some time back but never got to finishing it and is "interested" in selling it etc.  He said he would be open to owner financing options, carrying the mortgage if someone were interested in purchasing it etc.  My worry is that I am not all that experience in commercial type properties and don't know how I would handle the owner financing type option from a wholesale stand point.  He mentioned how he likes to be creative in how he does things and with me not being too experienced I want to make sure I get this right, but don't want to let this opportunity pass if it presents itself as this is a sought after town and not much has been available as of late.

Any advice on how I should proceed would be greatly appreciated.  Should I only explore options for cash buyers and tell him I am not interested in owner financing.  How would the owner financing portion go and would that scare away some investors, or would some investors like that?

Thanks!

@Rick H. 

Thank you all for the help!  I kept digging and found the online tax assessor site for each of the towns I was looking for online.  I had to do a lot of digging once on the sites to decipher who actually owned the property.  I was able to weed out a lot of people on my list and have qualified contacts on my list as well.

Thanks for all your help!

@Rick H. I've been following your post recently as I am looking to target probates and it seems like you have been extremely successful targeting probates.  A question I have is I have a list of recent fiduciaries and for one of them the fiduciary is listed as well as a real estate agent and a law office.  After researching the daughter of the deceased who is on the list of fiduciaries works for that specific law office.  Do you think it would be worth it to reach out to her and send her a letter or do you think that would get put in the trash.  The house was in her fathers name and both her parents are deceased.  

Any insight would be great.

Thanks!

I have been doing some research on the BP forums trying to find some answers for this.  I did some digging and was able to find a list of probates and Fiduciaries from the past year for my target market which I am looking to reach out to.  

Questions being it has the name of the deceased and the Fiduciary (typically the son/daughter/spouse of the deceased), and I have been doing a reverse lookup of the deceased to see where they were living.  I am now about to send out letters to the Fiduciaries inquiring about the property.  My only concern is that if they haven't lived there for awhile or the information is inaccurate I will come off as unprofessional.  I have no problem sending the letters anyway because I want to try to uncover any opportunity that may be out there but I wanted to see from some users with more experience on what your thoughts were.  Should I mail out to the fiduciary inquiring about the last place of residence of the deceased?  Any help would be great.

Thanks!

@Travis Lauchman just seeing this post now and it has been very informative and helpful.  First off, I think your letter is fantastic.  It is not very pushy and you portray the message well which I believe may make the potential seller more comfortable with you.  

A few questions though.  I see this thread is a bit older now so I am curious to hear what your success rate was with this letter.  I am assuming this was a typed white letter?  Also do you put your full name in these letters?

Thanks Travis, and great feedback from everyone else as well!

thanks @Curt Davis appreciate it.  I found that house when I was driving for dollars and looked it up and that's when I found out it went into foreclosure a year and a half ago.  I'll keep plugging away!

Thanks again!