All Forum Posts by: David Torres

Thanks Brandon.

Hey Brandon Just finished watching the the webinar on using the rental calculator. My question was about the variable expenses. I've been taught on income property to calculate about 35% annually. Do you do the same figure on your monthly calculations? Thanks Dave By the way, Great webinar!!

Hey Stephen,

The property that the estate will most likely need to liquidate will be located at the address of the decedent. Also, if the petition for probate has just been filed, the PR  will not yet have permission from the court to sell. More importantly, their motivation at the early stage will be very low. After, they have received letters of administration( about 60-90 days from initial filing) and the creditors start calling, the motivation should increase. I'm on my fifth mailing to my first list of probates.  It's a grind, but I know that if I keep on churning, eventually the cream is going to produce some butter.

Good luck

My recent focus has been on probates. I am slowly building up my list. I've split my list into two markets. The first market I focus on are PR's( to be) who have just petitioned the court to act as the personal representative. At this point, they have no authority to sell any property within the estate. My goal with this market is to become an asset to them as they begin the probate process. After about 60-90 days, hopefully, the court will grant them the "letters of administration," with limited or preferably full authority. The letters are basically their "ticket" or permission to begin the liquidation of property within the estate. Those PR's who have already received the "letters," I identify as my second market. As time passes, new cases will enter market 1, market 1 will transition to market 2 and some market 2 will come off my list.  Acting as a licensed realtor, my goal is to list some, have my investors/buyers list in place and build up reserves to later on approach the PR's not just as a realtor but as the principal buyer. As far as the return rate, it's been sub 1% and 0% conversion rate. But, that being said, I think the #'s jump to something like 83% after the 5th or 6th contact. My plan, (as a probate newbie) and what I'd encourage anyone else delving into probate, is to just keep reaching out to the PR's on a consistent basis with the goal of being a true asset and resource to them and the deals will come. 

Hey Mario,

I had the same question as Winston as far as what the numbers were. If you don't mind me asking what kept you from going out to see the property? Talking to the seller in person might allow you to build rapport and get a better feel for what repairs are needed. That way, in the near or distant future, if circumstances change, they'll come back to you. Great job with the direct mailing.

Dave

I'm in. I received the email with the call info.

Thanks Rick!

sorry. I meant PM. 

Hey Rick. Can you PR me the info on the call. I couldn't find any info on your website.

Congratulations from So. Cal. The podcast is excellent and time we'll spent. Dave Torres

In the podcast a couple of weeks ago, the guest mentioned working exclusively with investor buyers. Also there was the ultimate real estate guideline to working with real estate investors. (which was really good). Are there any BP members who are agents and work exclusively with investors? Can you share with us how you started and some suggestions for those of us who are thinking of going in that direction?

Thanks,

Dave