All Forum Posts by: Matt Foster

Here you go....sorry about any formatting issues it looks better on my letter.  

Dear (Name of Representative),

It is my understanding that you have been appointed by the probate court as the personal representative of an estate. I'm very sorry for your loss, and I understand that this is a difficult time for everyone.

I also know that it is easy to be overwhelmed by the long list of things that the personal representative must do to settle the estate. I am a well-connected Realtor and Investor that can assist you with all phases of selling real estate.

Here’s how I can help….

1. List the house for sale

• These are normally houses that are in good shape and you want to get the highest sales price possible. I specialize in selling homes during the probate process.

2) Buy the house

• These are normally houses that are in poor condition, are burdensome and for one reason or another you just don’t want to list with a Realtor.

• I pay cash and I close quickly so that that the executor and heirs don’t have to spend more money for the probate attorney, mortgage payments and commissions.

• I buy property in its current condition so you don’t have to worry about making costly repairs and waiting a long time for contractors and handymen to get the work done. You also won't have the cost of utilities, up-keep and taxes while you wait to find a buyer who is getting a mortgage.

3) Find another investor willing to pay cash

• Not every house is something I will be able to buy. In these scenarios we will decide on a sales price and I will go out and find a cash buyer through my network that I’ve built over the years.

Not ready to make these decisions yet but need help getting started? Call me if you need any of the following…

• Referrals for contractors, estate sale companies, clean up/junking companies, dumpster rentals, etc.
• Free Consultation at the property

Call or text me direct at.......

Question for my Southeast Michigan members or anyone else with similar circumstances.  I've been direct mailing probates for a few months now and it's been going relatively well.  But as my list grows it's making me more and more uncomfortable with the nasty phone calls and social media posts I'm getting.  And to be honest I feel terrible about it because 95% of the negative feedback is coming from widows who just lost their partner and have no desire to sell their house.  I don't want to mail to them obviously but the problem I'm having is that I don't know how to accurately remove these people from my list.  

Here's what I get.  Detroit Legal News publishes the list of new probates which I put onto an excel file.  I get the name of the decedent, the attorney and the personal rep's name & address.  I don't know if these estates have real estate or what relationship the PR has with the decedent.  Since I don't have the address of the decedent I can't cross reference with the PR name.  So I'm at a loss.  

Going to the courthouse and pulling individual files is just not feasible.  Are there any other tricks that you use to get a better list?  The only thing I can think of is to eliminate all entries that have the same last name of the PR and decedent realizing that I'm getting rid of potential siblings, children, cousins, etc.  Solves my problem but eliminates so many that I would otherwise mail to.  

Thoughts? 

@Mark Pedroza @Ray Lai @Ryan Dossey thank you very much!  This is great information that I'll implement next mailing.  

I started a direct mail campaign for Probates about 5 months ago and haven't received one call back.  I have a Virtual Assistant who pulls Executor/PR name & address from our local Legal newspaper and puts into an excel to create a prospecting list.  I've been mailing the PR's on a monthly basis (I'm just about to mail for the 6th consecutive month).  Every month I add about 160-200 new names.  My letter is simple.  I offer condolences, let them know I'm an investor who pays cash and that I can close quickly hassle-free.  Most of the material in the letter was generated from people who post in this forum with a lot of probate experience, so I'm confident the letter is at least adequate enough for SOME results! 

I know this niche is all about consistency and time, but to not get a single call is frustrating.  I'm also marketing to other niches with much more success but for one reason or another haven't been able to produce anything from Probates.  

Anyone else with this experience?  

@Brian Pulaski Replacement windows.  The ones in there currently are wood, beaten down and about 75% of them don't close properly.  I don't think they were installed very well in 1998 to begin with is my guess.  Appreciate the numbers. 

@Michael Hayworth thanks for the advice.  It definitely doesn't have to be vinyl and doing a quick google search on the siding you recommended seems more appropriate for this home.  Really appreciate the tip.  This will be the first house I had re-sided so learning on the go here! 

Trying to get rough numbers on a rehab. I have under contract a 2,200 sq ft colonial that needs all new vinyl siding, trim and windows. Would be tearing off old wood siding. Curious what your budget numbers would look like on this type of project. I know it varies just curious how you guys/gals budget this?  19 various sized windows (nothing custom) and 2 sliders.  Any help would be appreciated. 

 Ahhh, so you don't have to post up a rate?  Just post the job and let them make me an offer?  

Looking for some feedback/advice on hiring a VA. What is a fair wage per hour to pay a VA for tasks such as mail merging (excel) onto envelopes, stuffing envelopes and taking them to the post office?

Thank you in advance. 

House is in pretty good shape all in all except the roof is totally shot and needs to be replaced.  If replaced it's worth $175,000.  Market rent = $1,500 conservatively.  Cost to replace roof = $8,000. $120,000 mortgage owed.  $1,000 a month mortgage payment. 

How would you structure a sandwich lease option on this deal provided the owners aren't in a financial position to replace the roof? 

Definitely shouldn't be labeled "up and coming."  It's already one of the highest price per square foot in the Metro area.  Very popular city to live in because of its great downtown.  A lot of tear down/rebuilds currently going on with the older homes on large lots.  I suppose I would consider Ferndale/Berkley more "up and coming" when compared to Royal Oak.