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  4. May How to Prospect Older Probates | Probate Mastermind #328

May How to Prospect Older Probates | Probate Mastermind #328

Recorded Live on May 20, 2021

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:

00:00 General Updates

Jim and Bruce share general updates.

3:46 Diligence Leads to Deals!

Eddie has been investing for a while, and he’s about to take his real estate licensing exam on Monday. He recently sent out marketing to his 2019 leads and got an appointment from one of them.  The prospect hasn’t even been able to get into her mother’s house for the last year.  Eddie emphasizes that working historical probate leads is a great strategy now.
Eddie also just closed on a deal he’s been working on for a year – he and his partner made just shy of $100k profit! He’s also working a deal he had to trace down because the property was in an LLC, and involved several other obstacles.  Eddie describes his methodology.

11:05 Getting Heirs On The Same Page

Eddie is working out a deal with a personal representative, but the heirs are unhappy with their split.  Holding is costing them, and an increase in sale price won’t impact their individual splits much. How should Eddie approach this?

19:27 Unclaimed Funds As A Value Add – It’s Real!

Rick Wilson is getting started in Probate and comments on the “Unclaimed Finds” value-add strategy.  He actually checked in Florida where he previously lived and found money owed to him! Thanks, Jennifer! And this is proof that there could be money there.

22:54 Does All The Leads Offer Social Media Ads?

Chris asks if All The Leads offers anything to jumpstart social media marketing.  Bruce describes a strategy for building a custom campaign with your probate lead lists.

26:52 Fiduciary Responsibilities, Heirship Agreements, and Opportunities For Value-Adds

Can there be any side agreements? When and when not? If everyone has to know about it, what is the point of the side agreement? Caller also shares creative options of his own for getting heirs on the same page.

35:07 How to Contact Older Leads

What should you say when you reach back out to old leads? Since it’s less emotional after time has passed, should you use SMS marketing and Ringless Voicemail? Bruce shares his insight.

43:00 Calling Surviving Relatives That Share an Address With The Decedent.

Nancy is calling surviving relatives that share an address with the deceased’s last known. Should she change her approach? Why or why not? What about when you’re calling relatives of a young decedent?

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