can not only be a hassle, but also can cost a lot of money. Quick closings that generate cash for their estate is some- thing that executors are looking to do. Executors also understand that the property they are selling may need work. Given the fact that many homes that end up in a probate need updat- ing, most executors are willing to take a lower price for the property if the buyer or investor is willing to purchase it in as-is condition. KNOWWHO CANMAKEADEAL With a probate, there is only one indi- vidual who can make a deal with you to purchase property, and that is the executor. The executor—typically a family member, attorney or accountant—is the person charged by the court system to sign on be- half of the individual who has passed away. That means he or she can negotiate deals and can work with you to create a deal. There are many ways to find leads when you start your probate business. Typically, you can find all the listings that you will need at your local courthouse. Given the fact that probate filings are public record, you can go to the court and look up the listings in your area. That said, it can be a time-consuming process, and you will have to spend precious time searching through documents rather than actually looking at properties. There are also lead services. These ser- vices have trained personnel who go out to the courthouses in the area and gather the leads that have come in. They format these and provide them as a paid service that will deliver them to your inbox. How you choose to get your leads de- pends on how much extra time you have. Going to the courthouse can provide you leads for free, except for the cost of your time and gas money to travel there regu- larly. Most professional probate investors take the time to invest in a lead service that will deliver information right to their email on a regular basis. HOWDO I FIND PROBATE LEADS?
IT CAN BE DIFFICULT TO GET CONTACT INFORMATION FROM EXECUTORS, SO WHEN THEY DO CALL, TEXT OR EMAIL YOU, MAKE SURE TO ANSWER YOUR PHONE IN PERSON AND MAKE EVERY EFFORT TO GET IN TOUCH WITH THEM AS SOON AS POSSIBLE.
COMMUNICATIONS Staying in contact with executors on a regular basis is the No. 1 task that will take your business to the next level. Planning a mailing campaign that goes out every 30 days means that even if executors aren’t ready to sell at the moment, when they are, they will have your information at the ready. While you can send letters detailing your interest in the property, using other forms of mailers may be a better fit. Postcards are inexpensive and are easily readable by an executor. Instead of having your letter sit unopened, a postcard that broadcasts your contact information and your inter- est in the property might be a better fit. No matter what communications tool you choose, make sure to get those mail- ings out to every estate executor with the clear message that you have an interest in working with him or her to “cash out” the property. Every probate is different, so you could get an immediate call, or it may take time for executors to get back to you. In any case, you will know they have your information handy. WHENAN EXECUTORMAKES CONTACT It can be difficult to get contact informa- tion from executors, so when they do call, text or email you, make sure to answer your phone in person and make every effort to get in touch with them as soon as possible. You can set up a time to learn about their property and let them know a little bit about what you do and how you can help them.
Perhaps you can pay cash, buy quickly or buy “as is.” Regardless of your particular “value proposition,” this is your opportunity to let them know how the two of you— working together—can get them the money they need to help settle their estate. VISIT IN PERSON Once you get in touch with the execu- tor and determine which properties are of interest, take the time to drive out and look at the property in person. Just as with traditional real estate, good buys in probate real estate are based on location, location, location. While you may only be able to do a brief exterior inspection, you will be able to see quickly whether the house needs a new roof, new exterior paint or work to improve the condition of the landscaping. The status of these items will give you a good idea of how the interior may look, though that will require an interior visit to know for sure. Note the location of the property. Is it near shopping, schools or new construc- tion? Is it in a neighborhood where many homes have been renovated recently? You can check approximate home values
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Leon McKenzie is chief operating officer of US Probate Leads, which he co-founded 12 years ago. The company has grown to become a leading provider of probate
leads for virtually every county in the United States, using a national network of researchers who collect data directly from individual probate courts each month. Contact him at info@usprobateleads.com or 877-470-9751.
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