All Forum Posts by: Mike N.

Thanks for the info Brian that helps out.

I have a few questions about your probate business. Do probates have a higher response rate when giving offers than you get with regular direct mail sellers? I currently have to give approx 20-25 offers to get one accepted from a basic absentee homeowner. I would think that probates would be more motivated. How many offers would you say I would have to give to get one accepted? It would be very difficult and expensive for me to get 2000 probate leads to send out mailings to.

I have looked in my paper to get probate leads and ended up spending way too much time spinning my wheels. I was trying to find the names of the deceased and PRs in the phonebook so I can then look up them up in the county assessor website, but there were a lot of common names and multiple listings. I had no clue if I was getting the right deceased or PR's name. I have since axed that and thought about moving toward purchasing lists online. Have you had any luck with online list?

Thanks again for your time,

Mike

No one has done this?

Is there anyone who has successfully outsourced the acquisition portion of your wholesaling business? I am looking to fully automate my business. If someone has done it please share commission rates and where you got the people.

Also, should I be recording the attorney contact information to market to for probates in the future?

Thanks again for your help. Is the lawyers addresses OK to send the letters too if you cannot get the PRs address?

Thank you for the quick response and great answer. I have the "Notice to Creditors" listed in the paper as well. Since I have this listed in my paper would this be sufficient to use for data ILO going to the courthouse to get the data? I am not trying to be lazy just trying to work smarter. If I don't have to waste time I don't want to.

I heard that probate mailings are most affective approx 4 months after the filing of probate. Is the "Notice of Creditors" about the same time is the filing for probate?

I heard in the forums that in some areas the probates are advertised in the paper. In my local paper I see, “Notice of Trustee’s Sale†is this it? Listed in the description it says the property is going to be auctioned off. I would imagine it would no longer be able to be sold to a private party unless I wanted to show up to the auction, right?

I am trying to determine the value of a property. It has over all 3212 sqft, approx. 1500 on top and 1500 on bottom. It is a 2 story home. The top floor is finished and livable. The bottom floor is unfinished but partially framed. Do I search for comps for 1500 sqft? Do I also search for comps for a 1 story since I am not going to find too many 2 stories at 1500 sqft.

-Mike

If you get a list of absentee home owners that bought 10-25 years ago will ensure that most have some level of equity. List Source can give you such a list.

Thanks Tom, that was what I was looking for. I may have slightly different results because I am focusing on absentee home owners that have owned the property for 10-25 years.