Prospecting Cash Buyers, Structuring Investment Deals, and Estate Advance Funding | Probate Mastermind #288

Recorded Live on July 23, 2020

These episodes are recorded as a live Question and Answer Mastermind with participation from agents and investors across the country. Thanks for tuning in, and don’t forget to subscribe for future episodes!

Call Re-cap:

Marketing To Your Sphere of Influence (3:00)

Rosie updates us on her progress. She has set video calls with three probate attorneys, and also got a client ready to list using Muniment of Title.  Her next goal is to reach out to her existing sphere of influence and let them know about the work she does in the probate field. Chad and Rosie come up with a one-liner and discuss the psychology behind it works.  Bruce also describes how you can use this as an additional opt-in in your marketing.

Branding vs. Marketing: Facebook Ads for Real Estate (7:30)

From an operational standpoint, where would a probate video like that discussed above fit? Chad and Bruce discuss how to use this for low-cost, long-term branding instead of high-cost direct marketing.  

The Ultimate Sphere of Influence Campaign Right Now (11:15)

Chad offers a strategy Rosie can use to reach out to her database and generate referrals for attorney relationships right now.  Rosie also shares some awesome advice: Reach out to your title company and ask to be bridged in with the attorney(s) they use.  Rosie also underscores how powerful Chad’s estate planning offer is.

What To Do When A Family Member WANTS to Keep but CAN’T Buy The Property (14:35)

Michael is in Atlanta and his mother left him and two siblings a property in Pennsylvania.  The sister still lives in the house.  Michael is a new investor and interested in understanding probate better.  What is the process for moving title into the sister’s name, and then getting himself and his brother their shares as the sister continues to live at the property?  Chad asks a few qualifying questions and describes the relevant approaches for each.  What should you do if this isn’t an option? What can you say if you’re prospecting on the phone to offer leadership instead of a high-pressure sales pitch?

Navigating Unresponsive Attorney Situations (22:24)

Cameron is in Fresno.  He has a deal in Escrow and the Title Company is asking for a notice of proposed action.  Is this standard? What if the probate attorney isn’t responding in a timely manner?

How To Get a Relative/Secondary Contact Interested In YOUR Help [ROLE PLAY] (27:24)

Travis is hitting a roadblock when he reaches siblings and family members of the personal representative. Chad throws Travis in a role play and demonstrates how to run head-first into the obstacle.

Using Property Plus+ To Find Short Sale Opportunities (34:05)

Timmothy notes Property Plus+ makes it very easy to spot a Short Sale opportunity, but how do you introduce this conversation when reaching out to prospect? In other words, how can you make a Short Sale seem like a good option to the personal representative? Jim describes.

Common Law Marriage, No Will. What Happens? (42:48)

Becky knows someone who had a sudden decline of health. There are siblings and inlaws involved and no will in place.  How can Becky help?

Tip: Use this situation as a life lesson – Get an estate plan in place.

Diversifying Your Cash Buyers List (48:15)

Joe Lehman is looking to work out a deal involving 4 investment properties.  How can he structure this? 

Segmenting Cash Buyer Lists: Using Property Plus+ For Prospecting Investors (51:17)

Joe and Chad discuss how Property Plus+ can be used as a tool to send investor partners a list to “window shop” each month, so you can target your lead list much more efficiently.

Tax Liability and Estates (56:19)

Katherine is interested in understanding taxes on inherited assets in terms of basis value and gains.  Chad discusses how this works generally.

Estate Advance Funding (57:32)

One of the first things a personal representative should do is open a bank account for the estate.  What if the personal representative needs funds before the final distribution of estate funds?

  1. Estate Advance Option:  Ask The Expert with ProbateCash.com on Estate Advance Funding.

Lease-Option vs. Contract For Deed (59:12)

Chad and Katherine discuss when either option should or shouldn’t be used.  For greater detail, check out Shift Happens Webinar #4 on Creative Finance Strategy.

Get Paid To Represent Your Seller and Bring Your Investor To The Table (1:01:35)

Belle and Chad work through options for getting paid on your license and/or for bringing an investor on the buy side, without getting stuck in dual agency.

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