Probate Mastermind #239

Recorded Live on August 08, 2019

Today’s big takeaways: Opportunities When Probate Property Has Already Been Sold. What’s the state of the market and what opportunity does the Probate Niche have? How can I determine As-Is and Wholesale prices?

This Week’s Training Highlights:

Resources mentioned in this call:

  1. Our Ask The Expert Video with Probate Attorney and Real Estate Agent John Erik Fraker, JD https://www.alltheleads.com/ask-the-expert-deals-and-listings-from-probate-attorneys/
  2. More resources and advice on working with Attorneys: https://www.alltheleads.com/?s=attorney
  3. “Does This Cost Anything Up Front??? I can’t pay for all of these services!” How to Offer Motivated Sellers Vertically-Integrated Solutions WITHOUT Spending Your Money: https://www.alltheleads.com/can-protect-risking-capital-motivated-seller-needs-additional-services-cleanouts-repairs-rehabs-etc/
  4. How you can win attorney business through your marketing reach: https://www.youtube.com/watch?v=XONaNvF65yE&t=2192s

Call Re-cap

  • 2:36 Chris is calling in with a question about a cash offer vs. an as-is offer.  Chad describes how to use a retail outlet to wholesale a property – or “Wholetail” it. It’s a great avenue to find landlords and First Time Homebuyers.
  • 4:27 Anthony is calling in looking for some insight on the state of the business (probate real estate niche). The partners dive into problems facing the housing market right now and how that actually makes Probate a prime channel for listings and deals.
  • 12:29 Soji asks Chad for his best advice on working with Probate Attorneys (Chad gives his insight, but check all our resources here! https://www.alltheleads.com/?s=attorney)
  • 21:28 Thurmon is calling his first list and is looking for advice on voicemails. Should I leave them? What Should I say? How often?
  • 24:00 Thurmon also asks for advice on how to handle a conversation with a surviving spouse, even if they are already handling property. Chad gives great advice for offering help or value so this person can become part of their sphere of influence.  There are also opportunities if you help this type of client re-invest their inheritance or equity, as well as win reciprocal business by referring the client to an attorney partner for estate planning.
  • 28:01 Thurmon also asks for advice on deciding prices for wholesaling, to make sure he isn’t pricing himself out.
  • 30:45 Kevin shares his story of how he won business from a client who was ready to accept someone else’s cash offer. He and his partner Alice helped them net $30,000k MORE! He shares his plan for using this story to win new business. Chad offers a great strategy to incorporate this in his mailers.
  • 39:08 Randall asks how he can vet the investors who want to purchase properties – They found him by calling him about listings they did.  Chad describes his process for networking.
  • 44:10 Randall also asks how to start building and vetting his vendor network. Chad covers this in-depth in Probate Mastery, but here are some light tips for getting started without putting your own money on the line: https://youtu.be/J5Q0DAB0IVY
  • 47:50 Scott in Orlando took a listing, referred a client to a trust attorney, and got a referral back in return!  The client he referred out has a sticky situation!!! What should you do if you come across someone who might be scamming or misleading elderly people in terms of their property?
  • 51:46 Edwena calls in from the North Fort Worth area.  She’s been visiting attorney offices and keeps running into the legal assistant and receptionist.  She is leaving brochures and trying to get through.  What else can she do? Bring them REFERRALS. Sit down and create a co-branded checklist that you can market for them, since most attorneys can’t market the same way realtors can (see more here: https://www.youtube.com/watch?v=XONaNvF65yE&t=2192s)
  • 59:01 Susan calls in from NoCal.  She ran into a record where the PR called her back (from Chad’s suggested voicemail!).  She is wondering what to do with a petition for return of property? What’s your best advice for handling family members who are infighting?
  • 01:07:11 Rodger shares his tips for saying “Funding The Estate,” since billable hours can come out of it.  This has worked so well for him with clients AND attorneys he works with.
  • 01:11:20 Gary is a wholesaler and a colleague recommended pocket listings for him. What are your thoughts on that? Chad says any off-market inventory is great! Get on their buyers’ lists as quickly as possible.

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