Probate Mastermind #249

Recorded Live on October 17, 2019

Today’s Top Probate Real Estate Tips:

  • Calling Surviving Spouses
  • Working With Public Administrators
  • Probate Opportunity in Smaller Markets

Call Re-cap

  • 3:40 Randall from McKinney asks about customizing letters.  Our templates are for guidance, but you can customize them however you’d like.  If certain things work particularly well in your market, you should definitely highlight that in the letters when making your orders!
  • 9:35 Janelle is brand new and looking for language to use when marketing to surviving spouses still occupying the home.  Chad discusses how much surviving spouses can benefit from your help, and how to craft an offer that will be of value to them.  You can also see a video Chad made on this subject here: https://www.alltheleads.com/probate-leads-for-real-estate/
  • 17:17 Marjie from Los Angeles is finding that a few administrators are listed as the Los Angeles County Public Administrator office. How should you deal with those?  Typically, this means there was no next of kin to administer the estate, or there was infighting and the judge appointed a third party.  These can be a bit easier since you’ll be working with a professional who is trying to get the most equity for the family.  Chad gives advice on how to approach them.
  • 21:02 Joe Lehmann ran into two situations where the real estate in the state is upside down.  He asks for information and advice on short-sales in situations where there isn’t much equity.  Jim discusses.
  • 26:10 Renee is in a highly competitive market and looking for insight on getting in the door faster.  Chad and Renee discuss.  Keep in mind, the All The Leads Mastermind Group on Facebook is a great place to bounce ideas off of others who might be working in similar markets!
  • 42:00 James Previtti got a call from someone he sent a probate letter to weeks ago; there was no property in the estate but she has her own needs! James will be helping her with a property survey.  Great example of why offering value is such a great strategy.  James also asks about sending different letters with each touch – Yep! You can do that right from the ATL CRM.
  • 44:08 Bill from Kansas City asks for 3 things to know when getting started. Chad discusses.  You can also check out three things NOT to do here: https://www.alltheleads.com/3-things-not-to-do-when-getting-started-with-probate-leads/
  • 47:06 Tim from Dallas asks about opportunity in smaller markets and approaching multiple markets at once.
  • 51:13 Tim and Chad discuss scripts/intros to cold-calls that work with probate leads. Since Tim already has the skillset to offer creative solutions, incorporating this into his script will bring great results.
  • 56:25 Jim and Tim discuss working historical leads to fit a budget. Another point Chad makes is that probate deals have huge spreads, making it a really lucrative list for investors to pursue.  Tim adds that the value of having a team can spread some of the upfront work out so the big ROI doesn’t seem so far away! Most motivated, least competitive category of leads you’ll find.

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