Most real estate investors are used to chasing the same leads as everyone else, competing tirelessly over properties listed on the MLS or platforms like Zillow. However, there’s a lucrative avenue that often goes unnoticed: off-market inherited property deals.
In a recent episode of Raising Private Money, host Jay Conner sat down with Micah Nicholes, owner and CEO of US Lead List, to reveal why pre-probate and inheritance leads offer unparalleled opportunities for savvy investors.
Micah isn’t a typical data broker—his hands-on experience since 2014 includes buying, holding, wholesaling, and selling properties himself, using the very data his company provides. Through US Lead List, he’s helped investors all over the country find motivated sellers and close deals that most competitors don’t even know exist.
What makes these leads so potent is that many inherited properties aren’t yet being marketed, and their owners haven’t fully decided on selling. This creates a window for investors to step in early and position themselves as trusted problem solvers.
Inherited property deals differ from traditional motivated seller leads in several crucial ways. First, inherited homes are often paid off, which means sellers aren’t wrestling with mortgage pressure. The families involved face logistical and emotional challenges after the loss of a loved one, and the property is just one aspect of their complex situation. The pain points for these sellers aren’t always strictly financial—they’re searching for simple, respectful solutions, and they value the guidance of investors who approach with empathy.
Building rapport is paramount in these deals, as Micah Nicholes has learned both professionally and personally. In recent months, he navigated probate following his father’s passing, feeling the whirlwind of emotions and logistics that heirs regularly face. He stresses the importance of being a listener first, putting aside the investor’s immediate objectives to understand what the seller is going through. Creating trust opens the door to strong relationships—and often, sellers will choose the investor they trust over higher offers from others.
Another benefit of working with inherited property lists is the lack of direct competition. These leads are fresh, often provided monthly, and have not yet been inundated by calls or offers from other investors. This gives acquisition teams a chance to engage sellers before they think of listing, negotiating, or entertaining competing bids. Jay Conner, who’s used Micah’s service for years, values being able to reach sellers ahead of the competition, making the process less about battling for offers and more about establishing a genuine connection.
Direct mail marketing plays an essential role in this strategy. Letters sent to inherited property owners are generic and sensitive, never mentioning the recent passing in the initial outreach. The aim is to invite conversation without poking at fresh emotional wounds—most sellers volunteer information about their inherited status naturally during early discussions. By approaching with subtlety and respect, investors can build the goodwill that’s essential for closing such deals.
US Lead List stands out for the depth and segmentation of its data. Investors receive not just names and addresses, but detailed property information, tax delinquency status, vacancy data, and more. These datasets are divided into critical subgroups, including pre-probate, surviving spouse, trusts, and inter-family transfers, each with its unique implications for timing and negotiation. Micah’s favorite niche is marketing to those inheriting portfolios of multiple properties; helping heirs navigate this headache offers relief for them and great opportunities for investors.
Success in this niche isn’t only about having great lists. Consistency in marketing, empathetic acquisition teams, and persistent outreach make all the difference. Deals come over time as investors repeatedly follow up, and those who give up after a single contact miss out on profitable opportunities.
Inherited property deals aren’t limited by geography; aside from certain state-specific laws, such as California’s public sale requirements, this strategy works in urban and rural markets alike. Each inherited property presents a chance for investors to offer help, earn trust, and structure deals—often with creative financing. While most sellers prefer cash at closing, about twenty to thirty percent are open to options like seller financing or subject-to arrangements.
For investors ready to get off the beaten path and find less competitive, higher margin deals, verified probate and inheritance lists are the secret weapon. The relationships built through compassionate engagement not only close deals but also provide real value to families in transition. As highlighted by Jay Conner and Micah Nicholes, the greatest real estate deals are often found where nobody else is looking—at the intersection of timing, empathy, and strategic data.
10 Discussion Questions from this Episode:
- Jay Conner highlights that the best real estate deals often aren’t on the MLS or Zillow. Why do you think off-market inherited properties present such unique opportunities for real estate investors?
- Micah Nicholes mentions the importance of empathy when communicating with sellers of inherited properties. In what ways can empathy build trust and result in more successful deals?
- The episode discusses the difference between inherited property lists and traditional motivated seller lists. What advantages do inherited lists offer, based on Micah Nicholes’ experience?
- Jay Conner and Micah Nicholes stress keeping the initial direct mail generic and not mentioning the inheritance. Why is this strategy recommended, and how might it impact the seller’s response?
- Micah Nicholes shares that handling inherited property deals often requires acting as a “Sherpa” for sellers. What are some examples of challenges these sellers face, and how can investors effectively support them?
- What are some common misconceptions real estate investors have about working with inherited properties, and how does Micah Nicholes debunk them in the episode?
- The podcast touches on market dependency. Are inherited property opportunities valid in all markets, or are there exceptions? What factors may influence this availability, such as specific state laws?
- Jay Conner asks about creative financing options when purchasing inherited properties. Based on the conversation, how common are creative deals compared to all-cash purchases, and what strategies work best?
- Discuss the importance of consistent and persistent marketing to inherited property leads, as emphasized by Micah Nicholes. What marketing strategies tend to yield the best results with these sellers?
- Throughout the episode, Jay Conner and Micah Nicholes mention the value of focusing on “done-for-you” services and maximizing an investor’s time. How can outsourcing lead generation and marketing improve an investor’s bottom line and efficiency?
Fun facts that were revealed in the episode:
- Micah Nicholes specializes in finding “off-market” real estate deals—properties that aren’t listed on the MLS, Zillow, or even being actively marketed. He connects investors with motivated sellers before anyone else even knows about the opportunity!
- At US Lead List, Micah Nicholes provides not just basic contact data, but rich, segmented property information—including whether the property is tax delinquent, vacant, in probate, in a trust, or part of a larger inherited portfolio.
- According to Micah Nicholes, building empathy and trust with sellers is so important that some will even take a lower offer simply because they feel more comfortable and understood by the buyer—a testament to the power of relationship-based investing!
Timestamps:
00:01 Uncovering Off-Market Real Estate Deals
04:53 Leveraging Exclusive Real Estate Lists
10:07 Navigating Probate and Emotional Overwhelm
12:52 Lessons from Probate Experience
14:29 Innovative Real Estate Data Solutions
18:43 Connect with Micah Nicholes
https://www.JayConner.com/Inherited
19:42 Boosting Deals: Acquisition & Marketing
23:13 Persistence Unlocks Opportunities Everywhere
26:51 Maximizing ROI and Efficiency
29:24 Finding the Right Fit
31:18 Raising Private Money Tips
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