US Probate Leads Q&A

Introduction by Stephanie Mojica

In her job as the Vice President of Innovation for US Probate Leads, Kristine Gentry, Ph.D., deals with a part of real estate few want to touch let alone understand. The sad reality is that probate by its nature involves death, which requires Gentry and others who work in this segment of real estate investing to take extra caution when dealing with clients. In addition, probate law is notoriously complicated.

However, while death is an inevitable part of life, losing money through the probate process is not. In addition, many real estate investors have made significant amounts of money by buying and selling probate properties.
Gentry, who is based in the Dallas/Fort Worth area but works with leads throughout the United States, started with US Probate Leads two years ago. She frequently speaks on podcasts such as “Think Realty” and writes informative articles for her LinkedIn profile as well as the US Probate Leads website.

Before entering the real estate and probate investment world, Gentry earned a Ph.D. in Cultural Anthropology from American University in Washington D.C. and a Master’s of Science in Environmental Studies from Baylor University in Waco, Tex. She held many leadership positions inside and outside of academia and also spent four years as a Visiting Assistant Professor at Auburn University in Alabama.

Her education and varied professional experiences inside and outside of real estate and probate investing came together recently to create an interesting interview with Linda Pliagas, Publisher/Editor of Realty411. We appreciate Dr. Gentry taking time out of her busy schedule to help educate our readers.

Linda Pliagas, Publisher/Editor, Realty411: Hello, thanks for taking our questions, we appreciate it. We are seeing the largest transfer of wealth in the history of our nation with the passing of Baby Boomers. How will this affect the probate industry? And, has it begun to impact it already?

Kristine Gentry, Ph.D., Vice President of Innovation, US Probate Leads: The generational transfer of wealth offers a huge opportunity for probate properties. We know that many Baby Boomers own their own homes, and many have either no mortgage or very little left to pay. We also know that most heirs do not want to live in the homes they inherit. They prefer to sell them. Therefore, we expect to see the number of properties in probate continue to increase for the next several decades. We are already seeing an increase in the number of probates we collect every month, and that number will continue to grow. This is a great time for investors and realtors to grow their probate business so that they are prepared as the industry continues to grow.

LP: What’s the difference between a probate that requires court approval and one that doesn’t? Do you feel one is more difficult to acquire for newcomer investors?

KG: When a probate requires court approval, it means that the court will be more involved with the settling of the estate than one that does not require approval. This mean it can take more time to settle the estate, including more time to sell the home if that is the goal. In short, it is more difficult because it is more time-consuming. This can be more difficult for a newcomer. However, if the investor has time and financial ability to be patient, it can still result in a good deal.

LP: Can you share a success story about one of your clients who used US Probate Leads in their search for discounted probate properties?

KG: We have many successful clients who regularly purchase our leads and find great deals on property. One of our newer customers is expecting to close a deal that will result in $40,000 in profit. She has only worked probates for a couple of months. We always tell our customers that historical leads (those from previous months) are good for probates in addition to the most recent leads. We have a customer who has made well over $100,000 by simply working with historical leads. He bought six months of past data, and he was so successful that he came back and bought the previous 24 months for the same area. Another long-time customer averages closing two deals per month from his leads.

LP: Do you see more probate deals in certain cities, areas, or parts of the country than others? If so, why?

KG: We definitely see more deals in areas with larger populations. We also see more deals in areas with older populations. We see a lot of deals in New York, Georgia, Florida, New Jersey, and Texas.

LP: How does US Probate Leads directly assist investors in their deal flow?

KG: We offer a variety of services for our customers from coaching to help them grow their businesses to books/blog posts/webinars to teach them about the business to handling their mail program. We want to ensure our customers are successful, and we work to help them learn how to use their leads effectively.

LP: Can you share some tips for investors who want to start pursuing probate deals as a new investment niche?

KG: We recommend learning about probate leads and the probate process. Investors interested in this niche should be interested in helping the executor and/or heirs because they are going through a tough time. They may need a shoulder to cry on or more hand holding than others. This is a niche that allows the right person the opportunity to help others while performing a service. If pitched properly, the investor can explain how they can help the heir by buying the property as fast and painlessly as possible. Offering extra services like taking care of the yard can be very helpful. Probate is not for everyone, but it is a great opportunity for those who want to help others. Therefore, it is important to learn about it and know what you are getting in to before you start working probates.

Second, once you decide to purchase leads, it is important to think through your follow-up strategy. We recommend implementing a mail and phone call follow up program. Investors have to put in some work to be successful with these leads. When they do the work, they typically have great success stories to share.

LP: Is there anything you wish to add?

KG: We are a family owned business. We have been around for over 15 years. We are the only company in the United States that offers leads to most counties in the country.