Techniques For Finding Wholesale Deals
I have been using several methods for locating some good deals such as; classified ads, fsbo's, agents, and even calling people before their houses go up for taxes. But I am curious about one method, The Obituaries. Can you really locate some good deals by looking through the obits. What do you say to a person who's spouse just died, "Do you want to sell your home." Has anyone used this method for locating deals, if so, I could use some insight on how to go about it.
Thanks
As far as the obits, I just cannot do it. It makes me feel I am taking advantage of a person at their lowest point. I guess i do have a heart, and money gotten that way, is not worth it to me. Just my 2 cents....
Prosperous investing,
td
go to the probate office, and get the PR's number and call, most of the time they don't know what to do and really appreciate the help, Just ask them if they are interested in selling.....
You may want to try sending them a postcard with your condolences and let them know that you can help them sell their house fast if they need to. Just word it better than I did
iglooman
iglooman,
If you don't have a real estate license, you really don't want to make offers to help people sell their homes. You can find a buyer for them, but you have to establish "equitable interest" in the property if you expect to make money doing this. You can control the property with a lease/option, or if they will give you an option for $X, and give you some time you might find someone to purchase for more, and you can keep the difference after you excercise your option. It's ok for you to sell your own home. But you need a license to sell someone elses.
Good Luck,
Jeff
Jeff,
Perhaps you misunderstood what I was trying to say. I meant that you could help them by BUYING their house from them (at a discount). When I buy a house, I have helped the seller to sell their house.
iglooman
[addsig]
To me this seems to be the same as lawyers chasing ambulances. In comparison, I think chasing hearses is a even lower form of finding business. It's a lot of work finding investment property's sometimes, but finding them them ethicly dosen't make you feel like a predator, vulture, hyena, cannibal etc...
Instead of the obits, go down to the courthouse and look for new probate filings. If there is property listed, check it out. If you are interested, I wouldn't call the PR. I'm going to second those that felt a little squimish about it. If they have filed a probate and there is property involved, odds are they have an attorney. Contact her and see if the property is for sale. This will not always kill your discount because even the PR can't sell for too much of a discount or risk being sued by heirs for breach of fiduciary obligation. It has some potential and I think the method could be employed tastefully, I just wouldn't contact the family.
Hey why don't you just go to their house one night kill a member and then wait a few weeks call and ask if they want to sell. I dont think I would search the obits to find a deal they prob could win in court for being taken advantage of, if you make a huge profit. Maybe because they just lost a love one and arn't in the right state of mind. the process of grieving can take months. might think that one through a little bit. There is a ton of other deals out there.
I was 20 when my dad passed away and I was then responsible for my family and the very messy estate--bills, no credit life on new truck and no will. I had no idea where to turn but got every under control and moving foward. I learned so much and wouldn't be and know what I know today if it wan't for this. However all this took over two years of my life away from me. It worked out for me, but lots of others can't handle that kind of pressure and still be optomistic like I did. I wish I had guidence from the start and get some of those years back. In this business, if you have a genuine passion for helping people, I see this as an excellent opportunity to provide above and beyond service. Thats why I'm here and on this web site. If you care about helping people first and commission second it will show and any family in need of honest help will appreciate you and worry about the loss of their loved one, not the bills, credit, insurance, estate restructuring, etc. Thats what where here for and our job, we do the work and guide them where ever they want to go.
Amen you said it. What people would do for money. The love of money is the root of all kinds of evil. 1Timothy 6:10. There's nothing wrong with making or having money it's just the things you do to get it. Take it ez keep your hearts right before God and good things will come to you.
Dave
Quote:
On 2003-09-11 16:27, agent01 wrote:
In this business, if you have a genuine passion for helping people, I see this as an excellent opportunity to provide above and beyond service. Thats why I'm here and on this web site. If you care about helping people first and commission second it will show and any family in need of honest help will appreciate you and worry about the loss of their loved one, not the bills, credit, insurance, estate restructuring, etc. Thats what where here for and our job, we do the work and guide them where ever they want to go. <IMG SRC="images/forum/smilies/icon_smile.gif">
I agree with Keoki.
Go to your local County Courthouse. Ask where the Probate Office is located.
I mainly bid on Probate where there are no known heirs and the property becomes state assigned.
Hope This Helps,
Mrs. Meltzer
I've purchased many properties from heirs. I don't use obits. I use birddogs. When I visit, I tell them "John" (or whoever) told me about your situation. If I can help, let me know. Maybe its because I'm a woman and I truly care about people and it gets through to them that folks call me back. I dunno.... But a lot of times these heirs have issues and no money. I bought a property 2 months ago that had gone to tax sale for $8,000. I redeemed it for the heir as the right of redemption was expiring -- he still didn't have the money and had never cleaned out the house since his parent died -- and paid him $48,000. He loved me. (I sold it for $136,000). I've had many cases where the people really needed to sell but didn't want to deal with pushy realtors or greedy investors. Yes, you are an investor and this is what you do, but how you do it makes all the difference in the world.
I personally don't....
and I don't chase ambulances either...
I think It's a poor choice...
but who I am to say how you are going to make money...
Do what you believe is right!
Housingopportunity,
do you have any additional advise on how to go about finding properties via the obits?
I don't use Obits but I have had great success in finding and looking up abandon houses in the probate office. find the owner and send a hand written
letter on a really hot deal. Try to find about 20 abandon adresses and look them up. send letter. good luck 8-)
Is the probate office at the courthouse? If it is not its own separate office, what office would it be in, like in a small town?
Jar