Probate Monday #3 – Update
With the help of Jon Zorrer from REITvShow.com, who pointed me to a good friend of his, I was able to get my probate leads. His friend mines all of New Jersey for probate leads and sells the in counties that he doesn’t invest in. As luck would have it, he did not invest in Morris County and was happy to sell the leads to me for $97 a month. A $3 savings from USProbateLeads.com.
This should be a valuable lesson for everyone reading my blog and who has yet to start a blog of their own. I would never have met Jon if it was not for my blog. Put yourself out there people, get on Facebook, get on twitter and participate in other’s blogs. Real estate investing is much easier if you can network and make friends with other people in the business. You can start by leaving a comment on my blog 🙂
Probate Monday #4 – Is Real Estate Involved?
Now that I have my list of probate leads (will actually come in 10 to 14 days) it’s time to figure out if they have Real Estate Involved. Not all probate cases will have Real Estate and unless your intentions are to purchase other assets (cars, electronic equipment, jewelry,etc), then there is no need to mail to the estates that don’t have real property.
* as a side note for those who don’t quite understand the difference between real property and personal property. Real property is real estate (houses, condos, land) while personal property is everything else. Simple, but thought I’d explain that anyway.
How to find if the decedent owned real estate?
To determine if the deceased owned any property we are going to have to look up the person’s name in the county’s tax assessor’s role. There are 3 places that I know of were one can locate the tax role…
- Online. If you are lucky, like myself, you’ll be able to do a quick search on your county’s tax boards website. A great place to find the website if it exists is NetrOnline.com (http://www.netronline.com/town_finder.asp)
- Title Company. They will have access to all the tax records of which they might allow you to look at in exchange for you doing all your closings with them. Ron Mead does it this way.
- Court House. Trusty old courthouse has everything you’ll need.
Tax Role Lookup Example
One of my probate leads has the following information..
- Deceased Name: Glen Smith
- County died in: Morris County
On my County’s Tax Assessor’s page I can choose to search by Property Address, Owner Name, Block Lot or Prior Block Lot.
I will choose Search By Owner, then I search All Municipalities for a “Smith, Glen”
and I get the results
Only problem I see right now is, there are multiple Glen Smiths. Hopefully the probate lead, you have, has a middle name or initial that you can use to help narrow down the list. Outside of that I’m not sure how else to select the right one.
If I can’t determine which Glen Smith is the deceased, then I’m just going to mail out the letter. It can’t hurt right? We are sending it to the Personal Representative’s address anyhow.
Mailing the Letter
If you already have a letter set to send, use that one. Later in the week I will outline the letter I’m going to be sending so anyone who wants can quickly write up comparable one.
Just remember we are sending the letters to the Personal Representative, not the deceased property. Although if you did send the mailer to the deceased, it would most likely be forwarded to the PR anyhow.
Probate Work Sheet Requests..
If you are interested in a copy of my Probate Work Sheet, fill out the two fields below and I will send it to you as soon as i can.
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