Letter to families of deceased homeowners....

General Real Estate Investing
1

Has anyone had success in going after fixer-uppers where it turns out grandma or grandpa passed away and the house is just sitting there rotting?

I’ve compiled a lengthy list of homes that I’m interested in. They are all vacant. They are all still listed in the tax records under the original owner’s name, but with an address of the heirs. They are all obviously neglected. In most all cases g’ma/g’pa has been dead for 2-10 years. (Googled the names and found obits.)

What’s my best approach? A letter, then a call? Just go ahead and call? I have phone numbers for most of them. It boggles my mind that someone would just let a house sit there and waste away. I want these houses!

Oh, and would you admit that you’re an investor, or act like you just love the house and want to fix it up presumably for yourself. (I guess there could be an emotional attachment that would explain why they’re not selling or doing something with it.)

Anyone?

2

I would send them a letter first, then about a week later call the ones you have numbers to.

Keep in mind some people have no idea what to do with a vacant house, investors like oursleves do.

Tell them the truth, tell them you are an investor who helps people in their type of situation.

It is good to remind them the cost they are enduring while they have the property.

Emtionally and Financial costs

Give it shot because if you know about it I’m pretty sure some other investor knows about it two.

Whats the worst that can happen?

They might say yes!!!

3

Thanks for your reply. I’ll post my results…if I get any.

I’ve got the letters ready to go…
Karla

4

I agree for you to contact them, but you might not want to tell them that you’re an investor, the stereotype is you buy it cheap and sell it for more!

Let them know individually that you are very interested in their house that’s sitting vacant, and that you are wanting to buy it, and fix it up. Is this true?

Now once you’ve purchased it, what you do with it is up to you… You don’t need to discuss you future intention for the property, even if you knocked it down, and built a car wash, that’s up to you.

If there are probate issues that they’ve not been able to resolve, can you offer assistance in anyway, refer them to a lawyer? That costs money too! Can you help with that?

Try to rehearse what you want to say to them, along with the answers to their questions, and the counters to their objections. You can see how much they pay in taxes, insurance? other expenses? If you have the right answers, you just get yourself a deal.

Now, if you insist on considering yourself a business person, instead of an individual who’s looking to buy fixer uppers, a business is required to ensure that these people are not registered on the “DO NOT CALL LIST”. To keep solicitors from calling them, that would be investors too. Now, that doesn’t apply to an individual who looked them up and wants to buy their house.

All you want to do is buy their house… It’s easy to do, but do it legally.

Good Luck!

Kirk

5

Thanks for your input. I agree with everything you said. I had pretty much decided that I would just present myself as an individual interested in the property…and leave it at that.

I’ve enjoyed reading your posts on here! You have a lot of knowledge and experience, and I think it’s very generous of you to take the time to share it.

Karla in Amarillo