All Forum Posts by: Tyler Mullen

Hi Ben, if you're just looking for properties then send offers to the administrator/executor/personal representative for the estate, as Andre said, whomever appears on the letters of administration.  I would send a complete offer though not a letter.  I get those letters all the time I rarely read it usually don't keep it.

Another way to approach it is to use MLS or public records to find out the highest volume sellers by seller name. Then develop a relationship with those sellers, firms like mine but for your area. Or if you have good title company contacts maybe they will tell you who he fiduciary sellers are in your market.

Tyler Mullen, CFE

keep in mind your worst case scenario: retirement accounts are protected funds... but once the funds are removed, no.

Tyler Mullen, CFE

Agreed, if they aren't ready they just aren't ready. 

The best thing you can do is be an outstanding source of information for them.  Sometimes to do that you have to speak plainly to break through thinking that is circular and driven by a fear.  Ask questions to find out how they feel, why they feel that.  Then address those issues.  

One thing I tell people is, "You know what friend, whether you buy or you rent, a mortgage is being paid."  That's just a fact. It sometimes changes people's perspective.

Tyler Mullen, CFE

Hey @Chris Reid,

How I became a professional fiduciary, I began working ten years ago for a firm where we do court appointed services; guardianship, probates and trusts.  We also do DPOA and private contract work as well. 

It's a chicken and egg thing because to get into the business you need adequate experience but you can't become an expert without doing it.  Same thing to become a GAL.  Reputation is critical also, so beyond experience, a firm would never hire anyone risky, a court won't appoint anyone risky in any way.   I caught my break because of my prior experience in real estate as an agent, as a NASD Registered Representative  (predates FINRA) and insurance rep, anti-fraud background as a manager at UPS and a landscape contractor.  

As a guardian one "stands in the shoes of the client", so we are them basically.  Under a full guardianship that means we are untimately responsible for everything, income, expenses, housing and medical decisions, taxes, debts, mortgages, wills and estate planning, suing or being sued, investments, real property, unique asset liquidations like oil/gas leases, coins, fine art, notes, cars, foreign real estate, boats, wine, financial exploitation investigations including forensic accounting, criminal and civil trial testimony and recovery of funds when we are lucky, budgeting for liquidation of assets in order to fund medical and care expenses, (I could go on for hours); basically everything you can think of in your life... imagine someone else having to do that for you because you're incapacitated.

In my work I'd estimate I've been involved in the sale of 300-400 properties, maybe 100 probate cases and many hundreds of guardianship and DPOA cases. In the State of Washington a court appointed guardian qualifies as a Fiduciary Seller which exempts us from providing a seller disclosure statement, like REO.

Never a dull moment as every case is completely unique!  Let me know if you have any questions I'm happy to help any time.

Tyler Mullen, CFE

Hi Brandon,

This scenario is likely more straight forward than you might think.  I've been a professional fiduciary selling property and completing probates for 10 years, you should PM me so I can clarify with a few questions and then I think I can help you.

Tyler Mullen, CFE