Attorneys handle estates, conservatorships and divorces, and those often include a mortgage someone wants to sell. Dale Ketcham, an active mortgage investor in Shawnee Mission, Kansas, mailed letters like these to every attorney in his area and shared them so you can use them too.
Why attorneys
Networking with professionals who regularly have notes cross their desks is the best way to keep a steady supply of notes coming to you. Attorneys are near the top of that list, and the same letters work just as well for accountants, title company officials, bank trust officers and others who come into contact with notes.
The letter: when you have a referral story
If you’ve already closed a deal that came from an attorney, tell that story. Use your own transaction, and get permission from the attorney before you use their name.
Dear [Attorney Name]:
[Referring Attorney], an attorney in [City], recently called us for information so he could arrive at a price for an owner-held deed of trust. His client was entering a nursing home, and the son was conservator of the estate.
The amount we paid for the deed of trust was satisfactory for all parties.
We would be happy to visit with you at any time if you have a similar circumstance.
Enclosed is our brochure, which may be of help to your clients.
Sincerely,
[Your Name]
[Your Company]
[Your Phone] · [Your Email]
The letter: when you’re just starting
If you haven’t done a transaction with an attorney yet, use this shorter version. Change “mortgage” to “trust deed” or “contract for deed,” whichever term fits your state or province.
Dear [Attorney Name]:
In your practice, you may occasionally have a client who, for one reason or another, wishes to sell a mortgage.
I purchase mortgages, and would be happy to consider those that come to your attention. Please feel free to call me at any time.
Sincerely,
[Your Name]
[Your Company]
[Your Phone] · [Your Email]
Where to find attorneys
Your local business directory is a good place to start. You can also use the Martindale-Hubbell directory of lawyers, which law libraries, many university and public libraries, and most attorneys have.
