No More Probate List…Wait, Say What?

Scott Costello All, Blog, Probate Investing 5 Comments

Probate Investing MondayReal estate investing is full of road blocks for sure and I just ran into one that sort of blindsided me.   Yesterday afternoon I got an email from my probate list supplier informing me that he will no longer be able to give me the probate list I’ve been getting.  Ah CRAP!!  (actually what I said was &@%#^@&$!, and that is a direct quote.)

I asked if it was just my county that he was not going to be able to supply thinking that I would just purchase another county.  Unfortunately he is just halting his lead business because he got tired of having his employees flake out on him and then having to retrain a new person over and over again.  I can’t say I blame him.

Where does this leave me?

Well for starters it gives me $97 more to pump into sending out mailers.  And because of my mastermind group and coaching I know exactly where I’m going to be spending that money.  Here is the plan…

  1. Concentrate my efforts on Out-Of-State owners.  I can build these lists myself using the tax records
  2. Exhaust the probate lists I still do have
  3. Work on ways to build Evictions
  4. Build my own probate lists

If this were to happen a couple months ago I would have been dead in the water.  But now I have a plan in place and I think this is actually going to make me re-examine my business and make better use of my funds.   With the additional money I can spend on sending out mailings, I’ll be able to send out twice as much.

Last but certainly not least, Lance and I have decided to work together.  He recently lost his job, so he has time to do the things that I’ve had trouble doing because of my JOB.  He has no money however, so I’ll be supplying much of our monthly marketing expenses.   Lance also lives about an hour south of me which means we can cover a larger area of New Jersey.

We met tonight and laid out a plan and divided up the tasks as best we could.  This may be the turning point for both of us, or it may fail miserably.  I think this “partnership” is going to work great and I’m really excited about putting our plan into affect.  I wouldn’t be surprised when we look back over this year, this day will be viewed as the key to both of our success.

Enjoy your weekend everyone!

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Scott Costello

Scott is a part time wholesaler, but full time real estate investing addict! As his family grows and his free time shrinks,He has been slowing building his wholesaling business over the past 7 years in between life events.Drive, dedication and never giving up are his strengths.
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Comments 5

  1. Scott – That information is published in our local newspaper once a month. Call your local probate court and see what their procedure is. I get the information for the price of a newspaper.

    1. Post
      Author

      In NJ they are not required to post the “Notice to the creditors” in the local paper and most don’t. The reason is that, in NJ, creditors now have up to 9 months (or maybe it was 12 months) to claim any debts instead of the usual 6.

      So no love for me, The only way to get the lists in NJ is going to the courthouse.

  2. Pingback: Backup Plan – Why Every Real Estate Investor Should Have It | Real Estate Investing News Watch Blog Aggregator

  3. Scott, sorry to hear you lost your Lead Specialist. Same thing happened to me last August. I dont know what courts you are seeking, but Wolfgang Research was able to help me in a bind 🙂 Check out their website for an email address 🙂

  4. i myself am also a realestate investor. In the last 1yr 1/2 i have masterminded numerous probate deals. Ive researched and researched and found that what works best for me is to go to the court and get the leads myself. It works better for me when i do that cause i gather all the necessary information needed to make direct contact with sellers. I have plenty of tricks when it comes to getting a deal done.

    Sincerely

    Mr.5millproperties

    Email: james@scarboughcrtgllc.com

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