Probate Mastermind #264

Recorded Live on February 06, 2020

Call Re-cap

How to Find Investors and Wholesalers (3:35)

John Randolph from Columbia, TN is waiting on his first mailings to go out.  He’s looking for advice on how to find investors and wholesalers to build a cash buyers list.

How Aline Scaled Her Workload Back and Took More Listings (5:10)

Aline Smolanoff has taken two listings this week.  She is having great luck with old leads as well. She gets about 90 leads a month, calls 25 leads a day with about a 25% contact rate when they come in.  She does her diligence in following up.

Why Relationships With Probate Leads Feel So Much More Rewarding (9:50)

Aline and Chad discuss the other facets of Aline’s business and how she made Probate a focus. Chad asks what the difference between working with FSBO and Expired clients compared to Probate clients has been for Aline.  Aline describes how the relationships she’s made through probate have felt so much more rewarding.

Can You Make Cold-Calling Work With a Busy Lifestyle? (13:50)

Jim asks Aline: “You’re in a very competitive market… Your contact rate is well above average for such a competitive market. Do you have any insights there?”  Aline notes that she is calling during the day, with most of her calls being blocked off in the morning.  She plans to begin varying her call schedule more and take note of any differences.

Getting a Personal Representative to STOP PROCRASTINATING (15:08)

Angela Perry from Atlanta is working a probate case that fell in her lap that involves 5 properties.  It’s been a sort of drawn out process.  The administrator is one of the deceased’s sons, but he hasn’t made any moves with the property.  The decision-maker is stuck in Probate Quicksand and the other two siblings who are heirs are looking to move the process forward.  How can Angela navigate this?

Winning Deals With Earnest Money Offers (20:30)

Chad describes his strategy for offering up earnest money in an offer to show he is serious, shake an administrator’s apprehension, and motivate a decision.  He goes through his verbiage, process, and contingencies included as he writes his offer.

NEW TREND? Alabama Now Requires All Probate Cases to Send Notice to State Medicaid Agency (24:55)

Richard has a closing coming up, but the probate attorney reached out and advised Richard that the state has passed a new law to help Medicaid recoup money from estates. Before any probate case or probate property is closed, a notice of receiving must be sent to the Alabama Medicaid agency, regardless of whether the deceased was on Medicaid.  This increased aggressiveness might become a trend for other states as well, so please let us know if you hear of anything new in your state!

Also: Unexpected Places to Find More Listings and Deals – Probate Referrals from Medicaid and Social Workers

DNC, TCPA, and the State of Cold Calling (29:12)

Caller asks for some insights and advice on calling in spite of DNC, TCPA regulations. Jim and Chad discuss.

Creating Facebook Audiences from Probate Lead Lists (32:35)

Rick Melville is looking for advice on marketing to probate leads on Facebook.  Chad describes the process for taking your probate leads list, importing it to Facebook ads manager, and creating a custom audience.

Facebook Ads for Probate Leads (34:40)

Chad describes very simple tips for writing effective Facebook ads for Probate Leads.

How to Find a Real Estate Opportunities Through The Local Probate Court (39:34)

Jocelyn from Jacksonville describes a probate case she’s looking at and asks the coaches for advice on extracting an opportunity.  Chad describes how she can learn a whole lot in a short trip to the Probate Court; what the probate process involves, how to pull the records, and how to navigate the website if records are available there.

Establishing Just Cause To Fight a Tax Lien (44:55)

Ted just received a tax letter in the mail regarding his father’s passing 6 years ago.  His new wife had falsely administered the estate to herself. The estate involved 3 properties, and this tax letter is about the house he grew up in and was claiming the house for in taxes owed.  What are his options? Chad describes how he can go in front of the judge, ask for an injunction, and demonstrate how the harm to him is greater than the harm to the county.  Chad also gives some advice on finding a bulldog litigation attorney to help navigate the civil suit against the wife.

Golden Opportunities: The Personal Rep is a Third-Party Administrator?! (52:54)

Giusella is seeing leads where the personal representative is named as various agencies.  This usually means the judge has appointed a third party as an administrator or fiduciary.  Chad discusses that these are great opportunities to build referral relationships.  These administrators have duties but ALSO their regular day job. They also have less emotional investment.

Prospecting Probate Attorneys By Email (55:17)

Alena from Orlando is looking to start some attorney prospecting.  Do you have any advice for email copy? Chad describes his advice for taking the email route, and also encourages dropping in to the office. More on Working With A Probate Attorney to Grow Your Real Estate Business.

How Do I Turn a Call-Back from a Voicemail into An Appointment? (58:05)

Alena is using Voice Logic and is looking for advice on continuing the conversation. Chadd outlines the single objective for any call, inbound or outbound.

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