Unknown Speaker 1:00
Welcome incredible agents and investors from across the country. Today is July 30 2020. And this is mastermind call number 289. We do have four people in the queue. We got plenty room for more guys jump in early so you don't get shut out. Just hit star six and hit one. And let's go ahead and go to our first caller. First up this week is phone number ending in 5464. You're up first.
Unknown Speaker 1:29
Yeah, this is Eddie in Kansas City. I've got a couple different questions.
Unknown Speaker 1:34
I was on the probate mastery class yesterday. And Chad made comment of a like a document I can put on vacant property
Unknown Speaker 1:44
to prevent squatters from sitting in a house and I'm just wondering what that is and how I can find it.
Unknown Speaker 1:52
So what I suggested was to get get no trespassing signs, you can just pick those up at a hardware store.
Unknown Speaker 2:00
Then go to your state, your whatever state website, what you want, what you're looking for is the trespassing statute and your municipality or county or state. And if you can post the actual statute below the side, it just gives you a more solid ground, if you if, if, if anyone were to take possession of the property. So what I suggested is, and just for everybody listening for context, the idea is to provide value to anyone and everyone who has real estate. This also gives you a way to show them that you're proactively already working in their best interest but to it gives you more importantly, it gives you a solid reason to meet face to face and once what we mean what we know is when we get face to face we close like we no one else can compete with us. So it's kind of a neat little trick to get you there. have a really good reason they get you there really early despite their objections of well, we don't
Unknown Speaker 3:00
Now what we're going to do with the property or we we wait to talk to my ex.
Unknown Speaker 3:05
So just go find the state statutes on the statute for trespassing, you can probably and then you know, you might even call call somebody at your local court and ask them if they can help you find the shortcut. But just make a copy of that and you can dress it up and make it you know, put your company name on it. But just tape that below the no trespassing sign that way and then take a picture with a common date stamp and text it to the to the prospect so they can see you know, everybody has a record of when it was posted. So in the event a squatter does get in. He does go in and drag their ass out or the sheriff, you don't have to go through the the judicial eviction process.
Unknown Speaker 3:47
Okay, so just look it up in the county that I'm in. Yeah.
Unknown Speaker 3:53
Okay. You never you know, the law is like you think about it this way like for that for that to be a valid
Unknown Speaker 4:00
argument you need to find the actual law that you would be arguing in a courtroom. if if if someone did squat in the property, so you want to pull the official statute. It just adds some strength to your argument.
Unknown Speaker 4:15
Unknown Speaker 4:18
I want to make a quick comment.
Unknown Speaker 4:21
Chad has talked about Chris Voss, his book never split the difference. He has a mastermind class on masterclass. It's $15 a month if people want to go deeper in that. My main question is, I've been trying to deal with these four properties. There's four properties and three
Unknown Speaker 4:43
lots that this estate, the attorney is saying has to sell for 75% of the value. I was gonna make an offer on that value. And then today, they're like, oh, the 75% value changed. And I'm not exactly sure what it made sense.
Unknown Speaker 5:00
To do see if they would accept the lease option or not Elise has and owner finance
Unknown Speaker 5:07
for the value and then sell each property individually as I pick them up. But the
Unknown Speaker 5:17
I don't know. Like Should I just let this one go or the attorney seems to be like puppeteering this thing and making it so nobody can sell and the numbers changing overnight. You know from be more certain number go up or down. It went up to 189.
Unknown Speaker 5:40
From what so it was a follow until you it was at 137 and now it's 185 nine
Unknown Speaker 5:53
is the appraisal hit the value go up or the percentage you go up
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the percentage of the
Unknown Speaker 6:00
As the the estimated value of the properties went up,
Unknown Speaker 6:05
Unknown Speaker 6:06
Unknown Speaker 6:08
And I'll tell you as an investor, don't ever try to make a square peg fit around the hole like you, you know what it's worth to you and you're in control of your offer. So regardless of what the attorney says, You know what you had you had an idea of what it looked like a good deal to you at 137 with owner financing on these terms,
Unknown Speaker 6:31
write the offer and write it with a cover letter and and put a signature signature box on the cover letter. I've actually had good success with this. I've seen a lot of talk in Facebook groups, it seems like in multiple offer situations other people have caught on to this but what if I had an offer that that where I don't have if the attorney is a third party standing in the way and you can't meet directly with the family to negotiate. I would make a condition of the the purchase agreement. I would make
Unknown Speaker 7:00
The letter an addendum. So it's an official part of my offer and it has to be signed off on so they have to review the attorney. If the attorney throws it out, he's liable. Like he can't throw it out. And this is it's contentious. It pisses some people off, but I don't care if I want to know that the that my justified reason for the offer that I'm giving you, I want to know the seller actually read that. Because I don't want to negotiate through a third party who might not have who's, you know, more who knows what they're trying to do. So my advice to you is, write an offer you're comfortable with, despite what anyone else says I'm present that offer with a cover letter as an addendum that has a signature and even initial boxes like abdom initial the terms or initial part of the letter and sign it and you never know what's going to happen. I've bought deals like that where I'm like, yeah, I'm going in low, but I wrote a letter I pumped up my and the other thing you can do is really pump up your earnest money deposit. It's perceived
Unknown Speaker 8:00
value if you've got the right contingencies in your in your contracts, it doesn't matter the earnest money is not really being risk if you have properly written contracts, but I bought houses for sale 10 or 12% below the competing offer because I put like 40 or 50 grand in earnest money. So that may or may not work on on this particular deal for you but cover letter as an addendum where they have to acknowledge that they read your justification for your offer and a strongest earnest money possible and this either you get it or you don't.
Unknown Speaker 8:34
But don't don't get out of let some Don't let some other attorneys opinion of value sway. You know what you're willing to pay you. You've done your market research, you've underwritten this deal, you know what it's worth, don't play into their games, like you get emotional you lose money.
Unknown Speaker 8:52
Unknown Speaker 8:53
sounds good. I'll report back laying on goes.
Unknown Speaker 8:59
Unknown Speaker 9:00
participating. We appreciate it. Next up is phone number ending in 6248. You're up next.
Unknown Speaker 9:08
Good morning is Joyce arts and Morris. Thank you for this week. Chad. And I just wanted to tell you in the event that you also wondered why I continue to
Unknown Speaker 9:22
take take advantage of your wonderful offer of listening to mastery and working through it every month.
Unknown Speaker 9:30
Yesterday was the first time I had heard you discuss the squatters issue. And so that was a new thing I picked up I think, seems like I do that every single month.
Unknown Speaker 9:44
But I did have a question about that.
Unknown Speaker 9:48
When I have a
Unknown Speaker 9:53
taken proper, what do you call it probate
Unknown Speaker 9:56
and I'm going through looking at they can
Unknown Speaker 10:00
Unknown Speaker 10:02
And so my question is about that.
Unknown Speaker 10:06
If I discovered that there's a vacant property, and I asked the homeowner about insurance, and then if the property is vacant, what do I offer for the vacant property squatters issue?
Unknown Speaker 10:22
So what I was suggesting is you offer two things. One, let's get a vacant, vacant insurance policy bound within the next one hour. Will that be okay with you if I protect the value of your state in the next hour? Okay, great. I'm gonna have a guy named David call you. I'll pull the tax card and he'll have a real quote, if you're comfortable with the premium you'll be protected within the hour. Does that sound good to you?
Unknown Speaker 10:46
And I want the affirmation. Next thing I want to do and I know that this applies to everyone by the way, the next thing I want to do is with your permission, I would like to protect you legally. Now that we've got you financially protected, if
Unknown Speaker 11:00
or one of my team members could could go over to the home and tape a no trespassing sign and the statute, the trespassing statute inside the window. So is there someone a caretaker or family member that could meet me over there with a key to let me inside to do this? And it's a great reason like, I mean, once and you pull that fear to the surface, I'm not sure if you're aware of this. But if somebody does take adverse possession of the property, with a judicial backlogs and the eviction moratorium, right now, it could be months or maybe over a year, before you could have access to your own property. And you don't want to be in that position, do you?
Unknown Speaker 11:37
And how are they going to say yes to that? They might say I'll do it myself, what should I do but you've even if they do that, they might take the reason away from for you to get over there in person. But you've still demonstrated that you're providing unusual value that nobody else has thought about.
Unknown Speaker 11:55
Unknown Speaker 11:58
I have one
Unknown Speaker 12:00
Wouldn't lead in, in the month of April that I'm working. And I talk to the homeowner. And he has said that he is not planning on selling the home that he lives in. But he has five other properties that I found as a result of probate plus. Isn't probate plus amazing. I love it. I I can't believe I didn't have it my whole life.
Unknown Speaker 12:30
I'm wondering, is there something that I should say? That tells him how I know he has five other properties? And that I would like to help him with those two referral or whatever. That will not seem
Unknown Speaker 12:48
invasive? Yeah, I'm glad you brought this up. So we talked about this on master yesterday just for the benefit of everybody. Some of the early predictive analytics companies in the real estate space.
Unknown Speaker 13:00
Got drug into large class action lawsuits. And it was because they were pulling like, you know, high school graduation data on on and these kids were 17 years old. That became a sticking point. But you know, the problem was the real estate agents were calling saying, Hey, I see Jr. Graduated IV, are you guys going to sell 123 Walnut Street, it's likely that you are so I wanted to touch base and see, can I help you get a home value. And they were freaking people out because they were they had a lot of information at their fingertips, but they weren't actually using it and they were making people feel like their privacy was violated. So probate plus is not a tool to have you to give to you to go straight for the juggler like, hey, Jerry, I know you own five houses in this zip code and I'm your guy. You're not going to make it very far if that's your approach. probate plus is for you to target your marketing effort and prioritize your activity. Don't try to go tell them what they own. Still stick with the interview format and
Unknown Speaker 14:00
say, Okay, well, Jerry, listen, I'm glad that you're comfortable in your home. I mean, it's always nice when when your situation doesn't have to change drastically. But one of the things we noticed is a lot of times probate and Joyce, you can use this statistic in testing, what we found is the average probate, according on, you know, the probate plus results, what it shows us. The average estate and testing has 1.82 properties. So you can reference global statistics like that and be like, based on our experience, the average probate and our experiences had, you know, more than one property, the average is closer to two. So, you've told me you're staying in your primary residence and I'm happy that that's, that's good for you. Is there any are there? Is there any other real estate even if it's in trust or an LLC, yes. You know, that that as part of the estate that needs to be settled, and do it in an interview format and think of probate pluses as you know, you should use the conversation to validate the probate plus data, because it is it is an art. It's not a
Unknown Speaker 15:00
The science there's no guarantee because there's mistakes that entry mistakes. So just be careful not to shoot yourself in the foot. I don't think you have any liability with this data like, like the example I gave, they were, they were pulling data on minors that became the sticking point. But the bigger picture is when when you when people don't know how you know so much they distrust you immediately. They feel like their privacy has been violated. So don't try to go straight into it saying, I know you own these things. be tactful in your approach and say, you know, most most families own more than one property. A lot of times that's an entity or trust. Is there any other property in this state that you guys need to deal with?
Unknown Speaker 15:42
Perfect. That's good. I'm so glad you said that. So that I I will have a good
Unknown Speaker 15:49
foray into the conversation. I was just trying to figure that out. And I thank you very much. Yeah, thank you, Joyce. So you always hold Jim just so you don't get to ask
Unknown Speaker 16:00
How many times
Unknown Speaker 16:02
a she's been through mastery 38 times now. So thanks for being there. Joyce. I promise you, I pick up a nugget every time.
Unknown Speaker 16:14
That's awesome. Thank you so much, guys. We got a small queue this week. We only have three in there. We got plenty of time for more jump in. Don't be shy star six. Get one and we're looking for success stories challenges. Anything you need help with. This is an open forum. Next up is phone number ending in 2442. You're up next.
Unknown Speaker 16:36
Hi, guys. Can you hear me? Okay? Yes, sir. Yes. Okay. So I just started, I got my first set of leads in the beginning of July so I'm making my calls. And it's going pretty good. The only thing that I I'm finding with the people that I'm able to speak to is
Unknown Speaker 16:59
you know, they're always
Unknown Speaker 17:00
He's wary about
Unknown Speaker 17:03
cost, like, and I'm trying to do my value proposition quickly, obviously, so I can get some rapport with them right off the bat. And I'm trying to get, you know, I have to convey to them, I feel that there is no cost to them. Unless they use my, you know, unless they use my services. And even part of those spokes on my hub that high up kind of nothing to do with, I think that they're thinking only because of how society is now, there's going to be a cost attached. So I'm trying to come up with a talk track that I can convey to them quickly within my value proposition that says that to them.
Unknown Speaker 17:50
So you can actually use that objection to your advantage, because it's a great
Unknown Speaker 17:56
I feel like we should do this on a roleplay Are you comfortable roleplay
Unknown Speaker 18:00
Instead of me talking at you.
Unknown Speaker 18:03
Yeah, sure to do that. Okay. So out of all the probate USP, I'll just start at the end. So you know, sorry, what was your name?
Unknown Speaker 18:13
My name is rich, rich, so rich listeners out. We reach out to a lot of families early in the process because we know what a big difference it can make. And so far we've never never met a family we couldn't help so what's what's one thing you guys would delegate if you could today and we'll make it make it my responsibility? Not yours?
Unknown Speaker 18:33
Yep, first of all, who am I speaking to win? And how did you get my info?
Unknown Speaker 18:39
Oh, well, I should have started at the beginning because you wouldn't have given me that objection. All right, let's do this the right way. I'm trying to read rich
Unknown Speaker 18:48
Unknown Speaker 18:50
Hey, rich. My name is Chad Corbett, you might have saw a letter from us earlier in the week. I just had a few minutes at my desk and I wanted to follow up. reason why I'm reaching out. We've got a team of folks
Unknown Speaker 19:00
Here in Roanoke could help families going through probate. And as part of that we actually meet with the clerk each month and figure out which families we should be reaching out to. And even at the risk of sometimes giving the wrong impression, we try to reach out really early because we know what a big difference we can make and the amount of money you can save and the amount of stress you don't have to deal with. So what's what's been the toughest thing for you guys so far?
Unknown Speaker 19:23
Well, first of all, what you know can because I don't I'm not really familiar with what you do. Could you just email me like a summary with with some of the rates that would be attached to your services?
Unknown Speaker 19:39
Well, there's there's probably 1400 and 34 things which one should I send you services information on? Otherwise, we could just talk about it?
Unknown Speaker 19:49
Unknown Speaker 19:52
we're just the way that the way this, the way we try to work with families, riches if as soon as we can understand your goals, and your
Unknown Speaker 20:00
Your challenges and your situation, then we know exactly what to pull together. So think about it more like
Unknown Speaker 20:06
a customized quote, than a menu. You know, we're not going to give you a menu and say pick the things you need, we're actually going to hear you out, understand your situation, the person, you know, what's present to you options that we believe to be in your best interest. And regardless of whatever that is, I think, I think what I'm hearing from you, you're concerned, we're going to charge you some upfront fee or exorbitant fee. Every single thing that I will talk to you about, there is not one single service or function that I will talk to you about that you don't get delivery on what we promised before anyone gets paid. So does that make you more comfortable knowing that we don't get paid unless we do what we promised? And if we don't, then we don't get paid? So you're not taking the risk? My team is that makes sense.
Unknown Speaker 20:54
Yeah, so so there's no consultation fee. There's no other fees that are associated
Unknown Speaker 21:00
You know, and it's a common, it's a common question that we get. Because when something sounds too good to be true, our cultural reaction is, well, that's gotta be a scam. But what I'm telling you is if you give me the opportunity to prove up, I will do that. And I will do such a good job that you'll be happy to write that check. And if you're not, then I won't get paid. So like I said, I'm willing to take the risk if you're willing to trust me, you don't have any risk.
Unknown Speaker 21:29
Okay, we can break there. Okay. Yeah. So, so I have to just, I guess it's just up to me to do a better job conveying no cost until you actually use the services and I have to do it quickly.
Unknown Speaker 21:45
Just to engage and have them stay on the phone.
Unknown Speaker 21:50
Unknown Speaker 21:52
Yeah, and there's something if you haven't done this, if you if you go to all the leads mastermind, our private Facebook group and then
Unknown Speaker 22:00
On the left hand sidebar put in roleplay. And there's actually Rosie hire who you've heard on the last couple of weeks called, she put together the most recent one that I've seen. But there's unlike some of our most successful people are in that roleplay group. It's four or five people, but like David panella, is doing over a million dollars a year. And he's in their role playing with brand new people. Why do you think he's doing a million dollars a year, because he's always sharpening his axe. So jump in there and jump in one of those little, little miniature roleplay groups that people put together independently, and just go in there and practice. Like, there's people that meet every Wednesday at 8am. Or there's different times find one that works for your schedule. But But I mean, it's, that's why I'm so proud of that, because it's a real community and we have our subscribers are helping each other. So take advantage of that.
Unknown Speaker 22:49
guy. Yeah, definitely do that. For sure. We'll do that.
Unknown Speaker 22:54
Okay, thanks so much for your time. Yeah. Thank you, rich.
Unknown Speaker 23:00
Next up is phone number ending in 2858. You're up next. Oh, hi, everyone. This is Rebecca. And
Unknown Speaker 23:11
this is what I have right now I have a house
Unknown Speaker 23:16
Unknown Speaker 23:18
person who owned it died in 2016.
Unknown Speaker 23:23
So she was having her her nursing home care was paid by Medicaid. The so nobody owns the house except the person that died. There's two daughters and step son involved. The main daughter has been paying the taxes every year. So that's all caught up. So my question
Unknown Speaker 23:46
and I've already gone to two attorneys on this. There is no statute of limitation for Medicaid me.
Unknown Speaker 23:53
The issue is she's saying a lien was never filed. That she got a letter
Unknown Speaker 24:00
dated May 19 2016, with the intent to file a lien Medicaid lien on the house for her mother's care, and then her mother died may 25 2016. So this daughter is saying that she thinks it's possible that the Oklahoma Health Care Authority didn't follow through on filing lien because it was before the 30 days that they allowed to request a hearing. So this is the thing they haven't been through probate yet. And I tried to explain to her it has to go through probate, I thought maybe they could do a determination of errors. But I've spoken to three attorneys in Oklahoma. They don't really do determination of heirs much. once said he could do an expedited take six weeks
Unknown Speaker 24:55
expedited, administrative summary administrative proceeding in Oklahoma.
Unknown Speaker 25:00
That's what it's called. So anyway, I didn't know if anyone had any experience. There there is no lien according to title. So there's no no lien recorded yet. But once that probate is filed,
Unknown Speaker 25:16
has anyone had experience with Medicaid coming back and filing the lien? For the 13 months? This lady was in nursing care, which will probably be certainly around $35,000. It's about 3000 a month for the nursing home.
Unknown Speaker 25:34
How much equity in the home Oh actually, my question, what's the impel thing It would be great if if the link is not there, we're okay. The house is worth
Unknown Speaker 25:47
I've already had my contractor over there. She met him over there putting like the house sitting there it's in really bad condition is worth about. Now this is a noble Oklahoma. Can you
Unknown Speaker 26:00
Stick houses up there for like $3,000. Anyway, we think the house is worth sitting there
Unknown Speaker 26:08
Unknown Speaker 26:12
without the work done on it. Now the contractor, my contractor saying you know about 20,000 and work and this is to make this a rental house. So, anyway, I just
Unknown Speaker 26:27
can't seem to find anyone who can give me an answer on that. If once the probate is opened and filed, you know, they have to give notice and so does Medicaid then
Unknown Speaker 26:42
come along and file a lien even though she's been gone since 2016. They have the right to and let's say it's 5050.
Unknown Speaker 26:53
Unknown Speaker 26:54
the end the intent is to sell the asset correct.
Unknown Speaker 26:59
Unknown Speaker 27:00
Is to Yes. I mean, she's saying, here's what I would do, I would
Unknown Speaker 27:07
I would go ahead and lift it and get it. So get it under contract for five years. Lester, I'm an investor. I'm not licensed. Oh, you're wanting to buy it? Yeah, we're gonna buy it.
Unknown Speaker 27:20
Okay, then make her an offer, you know, she needs to initiate probate before you can actually make an offer. Like she has the authority to sign the purchase agreement. So the only way you're going to know and this I if I were you, as an investor, I would view this like a short sale, maybe I'll get it for my number. Maybe I won't, but it's worth a shot, right. And so have her have her contact the probate clerk, initiate the probate process, like petition for probate, get two letters of testamentary sonica purchase agreement for 40,000 and then just know you've got a four month creditors period. Well, she needs to understand there's a four month creditor period
Unknown Speaker 28:00
If you go ahead and close, that money goes from the escrow into the estate bank account. It's not your problem, you're the investor. So you you can receive title and you have title insurance. So if a lien attaches after the fact, like they're more likely to submit the actual the invoice to the probate court and then they are to attach to the title that's already transferred, but you're protected by your title insurance policy if that lien attaches after the fact your title insurance is the one that's on the hook for it. So it's it's there's there's a 5050 chance that she'll she'll get by with 40,000 in cash instead of 5000 in cash. But either way, it's not really your problem as
Unknown Speaker 28:44
well. I don't know this. Let me let me tell you what this one attorney can appreciate. He did this for free for me.
Unknown Speaker 28:54
He says there's no statutory lien that survives until collected one client he's saying one person
Unknown Speaker 29:00
I bought a property at sheriff's auction that had been vacant and abandoned for over 10 years. Imagine his surprise and he was hit with an immense Medicaid lien government. So pay attention, pay attention. He bought that on a special warranty deed, not a general warranty deed was a lien. That's why the lien got through on him. You're going to have a general warranty deed, you're going to make sure that you have a general warranty deed with a title insurance policy between you and that liability. Okay, I gotcha.
Unknown Speaker 29:31
So I don't see any risk for you here other than wasting a little bit of time. But But even even then, I think you're gonna get this deal because there's enough equity to cover cover the debt.
Unknown Speaker 29:44
Yeah, so I would move I would move in for whether it sounds like a good deal.
Unknown Speaker 29:49
It is a big deal. I mean, truly, the after repaired value on it is about 95,000.
Unknown Speaker 29:57
So I do this whole thing.
Unknown Speaker 30:00
Maybe 100 but I do this whole thing where I have a private lender financed it and then I go back into the bank, as long as I have 75 excuse me 25% equity after I've done the rehab, and I show that I have a tenant instead assigned a lease and I'm good to go think on it.
Unknown Speaker 30:19
Okay, I appreciate it. strategy.
Unknown Speaker 30:23
All right. Good. Good questions in case Come. Come back and let us know when you get bought and sold. Sure the shirt is a winning. Okay.
Unknown Speaker 30:32
Next, next job is Mr. Smith. 474361. You're up next, sir.
Unknown Speaker 30:39
The dummy of the week. Oh, yeah.
Unknown Speaker 30:45
No, I definitely. I think he was talking about
Unknown Speaker 30:49
oh, I broke. Alright, I'll take it. I know timber. I felt that I've known this guy for about 40 years so we can each other like go ahead Tim
Unknown Speaker 30:59
Unknown Speaker 31:00
Separate trading. Yes.
Unknown Speaker 31:04
The I got very excited about this probate plus thing.
Unknown Speaker 31:11
I watched the video. I think it could have been smoother, but I watched it. And then I went and ordered last Thursday. And I had the expectation of the month I ordered it for I would go in and see it.
Unknown Speaker 31:27
But that hasn't happened. I opened up I did make a ticket, you know, you get
Unknown Speaker 31:37
paid case number ticket number, whatever. And I wrote in on the on the internet, but I haven't heard anything from anybody and I'm not sure I might. I must have done something wrong. I'm pretty sure I am.
Unknown Speaker 31:51
I know Darcy tried to call you back twice yesterday. So I don't know. If you know it would have come from a three to one number because I'm aware of it.
Unknown Speaker 32:00
I asked her to reach out to you. And I know she tried. But Chad, would you, Tim, did you order it online? Or did you just send an email ordering it? Now I ordered it online. In other words, okay, have a thing there and order probate plus and I did.
Unknown Speaker 32:17
Unknown Speaker 32:19
So in it if that's the case, and it was done properly then if the results Chad should have come back within an hour or two, right? Yes, I'm looking. We'll track it down for you, Tim on one or the other. We'll get it. Yeah. We'll figure it out. Sorry. Sorry to take group time, but I was on a triggered by that.
Unknown Speaker 32:39
No problem. The good word like your Tim, I think you're ordered and actually submit because it's not in your subscriber record, but so we'll get you taken care of today. Someone will call you right after this. Okay, thanks. All right. Thank you, Tim. Next up is phone number ending in eight to one three, you're up next.
Unknown Speaker 33:00
Hey guys, thanks for thanks for the call.
Unknown Speaker 33:04
Quick, before I ask my question, Chad, you were talking about a group
Unknown Speaker 33:11
that we can jump on. I think it's every Wednesday, I came right as you were talking about, I think it's a roleplay call or something like that. Where do I find that?
Unknown Speaker 33:20
It was just one of the independent groups that I was, I was just using it as an example, if you go to all the leads mastermind, our private Facebook group, and use this, use the search bar, put in roleplay. And you'll see you'll see several posts, but the one I was referencing Rosie higher is one of our new subscribers. She's been with us about a month and she's she's running at full speed already. And she has a roleplay group that she put together a couple of weeks ago, but that's the one I was was. I'm not sure if it's on Wednesdays But anyway, search search roleplay and you'll see our archive, our our group roleplay calls, but you also see the little independent groups that our customers are put together.
Unknown Speaker 34:01
Okay, yeah. And then we then we have our monthly Wednesday roleplay call.
Unknown Speaker 34:07
Yes, yes, I attend that one. I actually actually scheduled a call with you tomorrow because I'm like, Yeah, I need to take flight. So it's not okay. Anyway, because we I noticed there's a lot of investors here on the call can sorry if it's an ignorant it sounds like an ignorant question at the beginning. When we talk about ARV right, I sometimes have investors come to me and say, hey, I want for example 75%. After
Unknown Speaker 34:36
that, what does that mean exactly? Let's say a property will sell ask the repairs for a million dollars when they say 75% ARV. would that mean that they want they would want to purchase it for 750?
Unknown Speaker 34:49
Or they would want that. Is that correct?
Unknown Speaker 34:53
Unknown Speaker 34:55
Okay, all right. So your ARV after repair value, just retail value.
Unknown Speaker 35:00
Got it. Okay. Okay, that makes sense because I was just so confused. I'm like, wait, what I need to figure out and I know you guys deal with a lot of this. So
Unknown Speaker 35:09
okay, I will try. My goal is to come back on the call and have a probate listing next week so you can all awesome
Unknown Speaker 35:20
All right, you got 180 people to hold you accountable. Give me your phone number they'll call and beat you up if you don't do it. How's that?
Unknown Speaker 35:30
I like strict accountability. Good job. We we know where to find you. So thanks for thanks for volunteering that. That's great.
Unknown Speaker 35:37
All right, guys. We have three more in the queue. We do have room for more hit star six and then hit one. Next up is phone number ending in 2517 Europe next.
Unknown Speaker 35:50
Hi, this is Sue and I have run my leads through the
Unknown Speaker 36:00
I forgot the thing that you had that kind of checks out if they had real estate or not. And my question is, I have a few that have real estate that they're like in another state.
Unknown Speaker 36:13
They have nothing. I'm in Arizona. And, you know, they don't have any real estate in Arizona, but they have it in another part of the country. And I was wondering how you handle stuff like that.
Unknown Speaker 36:25
referrals, referrals, referrals. So we have the data. So the system is kind of in version one right now. But what you can do as part of your workflow, just sort way we added a column in there. So if you sort by out of market properties, usually there will be a couple of dozen in any given County. And the first thing that you can you can call the family and make a connection, and then make it a warm referral to an agent and another market. Or you can just start to fight like just, you know, you don't have to do the
Unknown Speaker 37:00
prospecting work, you can just find an agent and the other market and say, Hey, try, you know, call this one for me, please,
Unknown Speaker 37:06
you're more likely to get conversions and referral commissions. If you warm it up and build, you know, do a handoff. But if you don't have the bandwidth to do that, just just refer them out. version two, like one of the feature requests that I know we're going to build, we're actually going to put a button on each of the leads, where you can actually just click a button and it will spit out a PDF referral agreement with all the information on it. So you'll be able to very efficiently generate referral agreements that you can send to those agents and we just didn't have time to get that done before we rolled it out. But the idea is to show you every opportunity to save money and to generate revenue, that's what probate plus is all about. It's about a higher quality data that will target your effort and maximize your revenue. So right now you can manually you know, send you can download the spreadsheet and send those to another agent, the agent and the other market or
Unknown Speaker 38:00
You can call them or you can handwrite it on your own referral agreement. But absolutely you know there's there's multiple opportunities every month for you to refer to out of market agents the best place to do that right now we really haven't built a specific referral community yet but all the leads mastermind there's over 10,000 carefully curated real estate professionals in our group now and we pretty much have representation and pretty much every major city or town in the United States. So you can usually jump in there and find someone who who has bought into this culture in this methodology that would provide a consistent standard a service to yours and you know, then that's your they're far more likely to close that lead and then just someone you choose out of a general real estate database
Unknown Speaker 38:47
right so I'm sorry where would I find that information of other people anything all these just go to all the leads mastermind and say guys, I have I have this month I have probate plus referrals from these things.
Unknown Speaker 39:00
Cities who wants them, and then let people respond to your message and say, Hey, I'll take the one in Minneapolis, hey, I've got I've got Kansas.
Unknown Speaker 39:09
And then you know, just post all of that you could just make a list of each of the cities where you have referrals for the month, and post that in all the leads mastermind. And then and then we have 10,000 people looking at it, and they can jump in and say, Hey, I'm in I'm in Nashville, send me that one. And then you can fire them off, you know, one of the time.
Unknown Speaker 39:31
Okay, and shall I just, just to add to add to that, I've had a couple referrals myself, my wife had a commercial hotel referral, and I checked, we'd never had a subscriber in that market. It was just a very, very rural area in Oklahoma. I just went in the group and said, Hey, who knows an agent in that market? And I got three or four recommendations. We had somebody step up and take the listing and I think she's got a contract on it. So yeah, with that many people, I've never put a response in there that I wasn't. We either didn't
Unknown Speaker 40:00
Have somebody or they knew somebody. So it's a great resource. Take advantage of it for sure.
Unknown Speaker 40:05
Because I have one that has vacant land commercial vacant land in Tacoma, Washington.
Unknown Speaker 40:13
There you go. That's a good one.
Unknown Speaker 40:15
Yeah. So what I would recommend on that is looking at, look at the CCI m database.
Unknown Speaker 40:23
CCI M is like pretty much the highest level commercial brokerage designation so you get a much higher, much better skill set. So find the CCI CCI on broker and Tacoma. That's a hot market for development. Seattle has spilled over into Tacoma, you that should be a really good one.
Unknown Speaker 40:44
But then when I've made the call to the person and said a word on that one
Unknown Speaker 40:50
because that's probably a multimillion dollar parcel.
Unknown Speaker 40:54
Yeah, it shows like it's really
Unknown Speaker 40:57
Unknown Speaker 40:59
Unknown Speaker 41:00
And that's that's the other beauty of probate plus, like we're not just talking about mom and dad's house anymore. We find everything they own rental portfolios, hotels, commercial outparcels Farms, even swamp lands. I was in testing, I was surprised how many how many deeds are recorded with land type swamp land in Florida. I mean, you can you can find a lot of interesting stuff with probate plus.
Unknown Speaker 41:27
Okay, now, you might also you might also reach out to Roger Lacey. He's part of a nationwide commercial group and that place the place I was referring to an Oklahoma, he actually referred me to another commercial agent that he knows in Oklahoma. So he's a he's a subscriber, they may have a resource for you, you know, between that and the CCM you know, you should be able to find somebody.
Unknown Speaker 41:51
Okay, no, great, thank you.
Unknown Speaker 41:54
And I interrupted you to start to ask another question.
Unknown Speaker 41:59
I just wanted to
Unknown Speaker 42:00
comment that I liked that little code seal because I,
Unknown Speaker 42:04
I this way I have a real quick easy reference to you know, I have a couple of codes I use so like I could go down to the ones and because I've coded them that they're out of state and I didn't know what to do with them, so I didn't send them a letter with this first batch because I was I didn't know if it would make sense.
Unknown Speaker 42:23
Hey, I've been trying I've been like racking my brain trying to think of the right name. We have a really good there's a really good probate agent right there and Tacoma, Julianne Gibson is her name and I believe she's a Keller Williams agent. She's not a Keller Williams commercial, but she has a lot of experience with probate and I'm sure she came from the nursing home industry so she's she thinks of this a much higher level than most most realtor like residential realtors. She has commercial real estate experience in the eldercare industry, but you may call Julian Gibson
Unknown Speaker 43:00
with Keller Williams and I think she's in Tacoma.
Unknown Speaker 43:04
Okay, great. Thank you.
Unknown Speaker 43:08
All right, thank you. We have two more in the queue. We probably can squeeze a couple more in guys. Don't be shy it star six and hit one. Next up is phone number ending in 1909. You're up next.
Unknown Speaker 43:25
I hear you. Are you there? 1909
Unknown Speaker 43:32
unmute yourself, please. do that work. That works. Good. Sorry about that. This is Sherry. I am new to the whole program. So I'm really excited to get started. I just got my leads earlier this week. And I'm I'm tempted to take advantage of the discount that's offered.
Unknown Speaker 43:56
Through the I just took the mastermind class
Unknown Speaker 44:00
The probate mastery class. I've just finished it last night. So I, but I, my question is, since I don't have any thing to gauge this by, what would you recommend? I mean, I could ask for a county around me on which is probably smaller numbers of population or I could go toward a bigger city, but then I'm going to have less familiarity with the area. So what would your advice be if I would started checking into another county to on to get leads from?
Unknown Speaker 44:36
Well, you definitely have to be confident in order to be a leader, like so if you're, it sounds like you have some apprehension. So if, from what I hear in your voice, if you're going to go toward the city and the secondary market, you need to make a commitment to build your market knowledge. So you're confident when you meet with these people that you're giving them good advice and you know, like, so there's a bit of a learning curve there.
Unknown Speaker 45:00
As long as you commit to that learning curve, that's fine. There's more opportunity and the bigger markets right and more numbers, you have more opportunity. But it's up It sounds like you don't have a learning curve and the smaller county what you'll find is in smaller County, sometimes, because wealth levels are so low, like
Unknown Speaker 45:20
most of the people who pass away, are exempt from probate because of the smallest state exemption. So sometimes you'll but but we have kind of a fixed cost and getting a researcher out there. So you have to find a balance. If it's you know, if it has two leads for 250 bucks, it might not make sense for you, it may make more sense to beat the learning curve and go into the bigger market. But if there's 20, or 30 leads for 300 bucks, that's pretty good. And those markets do really well. Some of our top subscribers only get 20 or 30 leads a month, but they get 567 deals out of them. So figure out your pricing and lead counts and really what you have to determine is it
Unknown Speaker 46:00
If you think only you can really answer this question, but I would say if you go to the bigger city, you know, the bigger town, there's more opportunity. You just need to make sure your mindset is right. And you make a commitment to getting yourself confident, because I don't hear that right now. Right? It's all very new to me. So I'm a little
Unknown Speaker 46:23
on the lacking a little confidence right at this moment. So you're probably right about that. As far as getting to know the, I'm sure you're right about that. But I was trying to make a decision as to what I might ask for. I just got 28 leads on boards for my first month. So you know, I haven't sent letters or anything. So I'm kind of excited to get started but I'm also a little hesitant to make the wrong move for an extra step.
Unknown Speaker 46:51
Yeah, sure. Your intuition. Yep. Trust your entire sale. Have we?
Unknown Speaker 46:58
Go ahead to chat. Sorry.
Unknown Speaker 47:01
My best Your turn is trust your trust your intuition. If you if you think you're going to be overwhelmed, then just this weekend, I mean, I'll say this I'll extend an offer to you. If you feel like it's going to be overwhelming but you're afraid of missing out on a 20% discount then you when you then don't do it right now, but it chances are you have the bandwidth was 28 leads your call to go all the way through that list is only like two and a half hours, two hours and 15 minutes. So you have quite a bit more more bandwidth. So you're probably ready.
Unknown Speaker 47:38
But But if you feel overwhelmed, trust your intuition because we see people get they bite off too much too soon and they get overwhelmed and quit but they're typically only in counties with 234 hundred leads. I think you've got this and I think you've got the time to manage two counties around that size.
Unknown Speaker 47:57
Right Jerry what I was going to say is Darcy is yours.
Unknown Speaker 48:00
salesperson, I'll have her reach out to you with some options, you could always take advantage of the discount and do a, you know, delay the start date on the next county until you're ready. You know, delay it a month or two.
Unknown Speaker 48:12
Yeah. Okay. And that's, that's right, Jim. And, and also, if you if you've already had your onboarding call with Tom and haven't set up an implementation call with me, this is Bruce by the way. Definitely do that because we can talk through some of some of the best strategy and make sure that you're set up properly. Okay. And you can do that by in the subscriber portal, look under education or training, and then schedule my next coaching call and you can get right into Bruce's calendar.
Unknown Speaker 48:42
Unknown Speaker 48:44
I'm glad to do that. Thanks so much. All right. Now, of course, we have five in the queue. I'm going to close the queue and we're going to try to get to all of you, Chad, you have to leave right at three to today correct? No to this thing.
Unknown Speaker 48:57
Okay, good. So we got some time. Next up
Unknown Speaker 49:00
His phone number ending in 8624. You're up next.
Unknown Speaker 49:06
Yeah, Hey guys, this is Tom and the North Atlanta, Georgia area. And we're just we're realtors and investors and just get started with the program and we have a few opportunities that we're working on and have a couple questions. So the first first one that we have is
Unknown Speaker 49:23
it's a test bait case in which a temporary admin has been assigned. And the letter that the gentleman had actually received from the courts said that he had the ability to collect and preserve the assets until a Permanent Representative had been appointed. So we met with this guy, I'm not really quite sure if we can do something and move forward with some kind of an offer or even a listing agreement with them,
Unknown Speaker 49:54
with him being just a temporary representative until a permanent Of course
Unknown Speaker 50:00
With everything going on in the courts and the delays, the attorney saying it's going to probably be six to eight weeks before a permanent is actually found. So I just wanted to get your input on what, what, what can what can we do at this point to help this gentleman out and possibly capture an opportunity there.
Unknown Speaker 50:17
As the as the interim administrator been issued two letters of testamentary. So they have authority.
Unknown Speaker 50:23
He has received that temporary letter of administration. That's all that's been received.
Unknown Speaker 50:30
Okay. So this is a great opportunity for you to, if you don't know, a probate attorney and get to know one,
Unknown Speaker 50:37
you just call and say listen, you know, we're we're helping a family and and the temporary administrator. I mean, there's an attorney on this case, right?
Unknown Speaker 50:46
Correct. Yeah. Yeah. So I would call that that attorney and say, Listen, you know, we're trying to help the family. We did speak to the the interim administrator, but he's not sure if he has the authority. I just want to verify you know,
Unknown Speaker 51:00
Letters testamentary valid under his his
Unknown Speaker 51:04
administration? And If yes, then you can go to a purchase agreement if no, go to a letter of intent.
Unknown Speaker 51:11
Okay, then we just do a letter of intent. Okay. That's what was one of my thoughts is I was like, I think we can do a letter of intent intent on this, but be quite sure. And of course, you know, you can, you can always do an Li, it's just what you're getting is the mental commitment. It's not a valid, enforceable contract, but it's in their mind they made a commitment to you so they're unlikely to do the same with somebody else without talking to you.
Unknown Speaker 51:34
Alright, so the other thing that I really weigh in on that is his his his letter say that he has the authority to collect and preserve assets. I would offer as much help on the preservation of those assets as possible. Loop the attorney in every time you've done something to help with the preservation. So email the attorney, call the attorney, let them know what you've done to help and when a permanent administrator isn't
Unknown Speaker 52:00
Find that attorney is going to be your biggest advocate.
Unknown Speaker 52:04
Perfect. Perfect. Okay, great. That's why we pay Bruce the big bucks. Good advice. Yeah, baby.
Unknown Speaker 52:11
No, that's great advice. We'll definitely do that. The second one is the other one that we're working on is a test date situation where
Unknown Speaker 52:22
mom has assigned what there's two sons. One of the sons is the executor. He just filed for probate so no notices have been received from anybody. Son number two is inheriting the actual real estate property.
Unknown Speaker 52:38
Now we're going to go they want to sell the property, they want to get as much money out of it as they possibly can. We went ahead and signed a listing agreement, having both sons sign it kind of moving forward. So I wasn't really quite sure what else we needed to do.
Unknown Speaker 52:53
If that was appropriate, not having a letter from the courts, yet identifying who the executor is.
Unknown Speaker 53:00
And the second one being the beneficiary of the real estate. So I wanted to get your vote on that. Yeah, go ahead. I'm sorry. You just need to be aware your listing agreement is not a valid, enforceable contract, as long as everything's going fine. That's probably not a problem. It shows their intent, but you will not be able to chant to close the chain of title. So you want to make sure that you you set proper expectations with the buyer's agent, and that you address that with a contingency in the purchase agreement. So when you wanted them title, you can you can see that.
Unknown Speaker 53:37
Okay, well, we I wasn't even planning on actively listing this property until that notice was received. So are you saying that we might be able to go ahead and list this property
Unknown Speaker 53:49
without having official notice back from the courts on who the example is? I would, I would put an effective date of today on the listing agreement. And then a TBD
Unknown Speaker 54:00
Like I would in the in the listing, listing bait, I would put asterisks the additional terms. And then the additional terms I would write, you know, to be determined, like listing shortlisting shall be uploaded on local MLS within 24 hours of administrator receiving letters of testamentary. That way you have no no liability with the state or your broker
Unknown Speaker 54:25
and just follow the rules.
Unknown Speaker 54:27
Okay, all right, good. That's actually what we did. So I thought I might have heard you say something different. So I'm glad we got that one. Right. And then there's the other part of that is the son who's inheriting this real estate. He does not have the funds available to keep the property up. Taxes are going to be due here in a little bit. He's getting a little bit nervous. I listened to your
Unknown Speaker 54:51
podcast with probate cash folks. I was going to plug them in, bring that in as a possible resource for these these guys but I also wanted to get your
Unknown Speaker 55:00
Put on any other opportunities or options that we might have to be able to capitalize on that on that situation and bring value to them. Besides bringing
Unknown Speaker 55:11
do you guys do fix and flip?
Unknown Speaker 55:13
Unknown Speaker 55:16
So, do you have your own capital?
Unknown Speaker 55:19
Unknown Speaker 55:21
you can partner with them. So you establish a basis value. You establish a basis value for the asset right now as is where is
Unknown Speaker 55:32
and you write that into your you can use a trust, you can use a fresh LLC joint partnership or joint venture Limited Partnership Agreement, let your attorney tell you what vehicle to use. But just make sure that the
Unknown Speaker 55:44
the operating agreement or the trust agreement, explicitly spelled out the basis value. The the give you control of sale, and and you know then a 5050 split on net
Unknown Speaker 56:00
profit, not not on not on the gross sale price but on net. Because you're going to be taking the capital risk, you also get the listing commission. And what's leftover on the bottom line on the settlement statement shall be split 50 proceeds shall be split 5050 to the whether it's the members of the LLC are the beneficiaries of the trust. But it's a great way to get a free house to flip and everybody wins the neighborhood gets a nicer house, the family gets more equity and generational wealth, you get a higher listing commission and you get a nice bonus you get a profit share, and your contractor gets to work.
Unknown Speaker 56:38
Okay, so can I can we we have to wait until that notice of the executor has been received before we can actually move forward to that though, is that correct? Me safely Yes. Because they don't have the authority to sign anything right now. So if you were to go start putting putting work in there, and then something would change then you could
Unknown Speaker 57:00
Lose whatever equity you've put into the asset. Okay? However, we could go in with a letter of intent and actually take care of it upfront. Now, yeah, you could go in and negotiate all the pertinent points right now. You can even you could even establish the LLC or trust, the trust won't technically exist until the asset closes into it, but you can still do the front end legal work on that. So there's other stuff you can be doing now. You know, getting quotes from your contractor getting over there cleaning it out, getting a scope of work, like there's a lot of stuff that can be done that's non legal in the next two weeks, while you're waiting on on them to get the authority and then you'll have your strategy ready. I mean, literally the day they get the letters, you can have guys in their demo.
Unknown Speaker 57:46
Okay. So the other question is, what they're concerned is based on what the courts were telling this, these two gentlemen, because of the delays in our court system here locally, and and the COVID thing
Unknown Speaker 58:00
Could be four to six weeks before they actually get there notice.
Unknown Speaker 58:06
One fortunately, there's another there's not much we can do. We're at the mercy of court and COVID. Yeah, I was trying to figure out that piece. I'm like, I don't know what I can do. In the meantime, I really don't
Unknown Speaker 58:17
know. Well, I mean, use of four weeks to get your design plan in place. Get your contractor bids, don't buy anything, in case something would happen. But you can you can get your scope of work and your bid and line up your subs, you know, get get, I just outlined the entire strategy and put it in a letter of intent. Get them to sign it and say, here's what we'll do. The day this happens will trigger this plan. So that way, it'll shorten your cycle. I mean, you if you've done all that work on the front, you should be able to do a full flip key to key and like 60 to 75 days.
Unknown Speaker 58:54
All in because you had the plan already up front.
Unknown Speaker 58:58
All right. Awesome. Awesome.
Unknown Speaker 59:00
All right. All right. Thank you sir. Three more in the queue guys. We are going to go just a bit over today. Next up is somebody I just spoke about Roger Lacey. How are you sir? My ears were burning so I figured I better give you a shout. Yes, please. Thank you for the conference for the lady. I think you guys gave the lady in Oklahoma. Great advice, say with small wins. There's all kinds of opportunities that don't come off as the leads but are fruit of what you what you do in those counties right there to augment what you're also doing in that market in Oklahoma is there's always going to be the SRS senior real estate specialist stuff that you can, you can latch on to with the attorneys that are doing estate planning and, and, and a life you can make a good living in small markets like that, where there's little or no competition going into going into
Unknown Speaker 1:00:00
To the bigger markets you're going to be beat up with. We buy ugly houses, and wholesalers and, and having to break through all of that noise to provide the value that you have with all the leads is going to be, it's gonna be tough you're gonna get a lot of notes out of the, the bigger markets on that. So I think that what you have to do is take like Mikey, like I said, stay in, stay in your comfort zone, stay in those areas where you can learn the confidence, you'll get into a conversation and learn how to rescue yourself from the conversation and find a way to provide value to those folks in your community. You also if you're from that area, you'll have a leg up because you've lived in the area for a long time and maybe you bumped into somebody in the conversation that you graduated from high school that they knew about.
Unknown Speaker 1:01:00
So there's a whole lot of talent things that you can do and learn through the process of being told no, with the black guys the bloody bruises in the in the conversations. But once you start getting the yeses, once you start getting the yeses in that small market, then you can see you can consider going into a bigger market Personally, I get about 25 to 35 leads a month in Washington County, Arkansas. And
Unknown Speaker 1:01:26
it's not all the business that I get out of here. But I get a lot of secondary secondary sales, secondary relationships, stay with your sphere of influence within those communities and make a good living with with what you're doing in small markets. So it be the be the one in the market rather than being competing with everybody else that's trying to grab those houses over there in a bigger market. That's that would be my suggestion.
Unknown Speaker 1:01:59
Unknown Speaker 1:02:00
Roger, so yeah, good out of your 360 leads last year roughly how many? How many? How many closings Can you attribute to sourcing back to this and I realize they might not be. They might not all be directly from your lead list but from those conversations, how many closings Can you attribute to last only about
Unknown Speaker 1:02:24
probably about 10. But then I've also got
Unknown Speaker 1:02:29
it I probably got about
Unknown Speaker 1:02:31
I probably got about 10 referrals working my way up my referral network in my sphere of influence and, and on my target, I might target a
Unknown Speaker 1:02:45
what's your home worth in a subdivision and do that but you can make good money with with what they're doing. I haven't signed up for the probate plus, hear good things about it. I may be giving you guys a call to call back over here in Michigan.
Unknown Speaker 1:03:01
I've got a good I've got a good database with with an MLS, you give me the all of the all the properties that they have. And I don't know that that might be something that I want to consider also. So bottom line is that you make good living in small markets. And you can stay the small time small town specialist in those markets. But you got to make the calls. You got to make it you got to make the visits.
Unknown Speaker 1:03:29
Roger, we always great to hear from you, my friend. Thank you. I think you probably over the last five years you have the highest per lead production of anybody we've ever dealt was so you get the most out of that. We always appreciate your you chime in and let other people learn from your experience. Thank you. All right, guys, real quickly. We have two more in the queue. Next up is 66226. You're up next.
Unknown Speaker 1:03:54
Hi there. How are you?
Unknown Speaker 1:03:58
Can you hear me
Unknown Speaker 1:04:01
We can hear you. I'm clear. We got you. Okay. Sorry. I'm Patti. I'm in Virginia. And I have a question. So when I signed up, I went ahead and purchase some historical leads. So I've been working those, and they are from January in February. So I may just need to sign up for a coaching call. But most of those out of 100 Plus, I've made contact with about 75. And I've pretty much experienced everything that you've trained
Unknown Speaker 1:04:37
in, except for everybody's pretty much has everything completed. If they were interested in selling the property they've already listed or sold.
Unknown Speaker 1:04:46
They're not selling it, that kind of thing. So now I've received my list for July and it is also leads from February. So is there a different tactic that I need to use because I'm just
Unknown Speaker 1:05:00
Using the scripts that we've learned and kind of making them my own, and
Unknown Speaker 1:05:05
I'm just afraid I'm going with this necklace, I just sent out a letter. So I'm, I'm afraid I'm going to have the same. Same situation with so what I would say is getting getting clear on every single little value piece that you can provide to the family. Like, for example, if somebody has already sold the home, then you congratulate them and say, something along the lines of Oh, well, I'm actually glad to hear that because that's where we see most families struggle. I'm glad you guys found the right help. That's one of the things we do. It's usually the first thing because it's the biggest stress for the family. But now that you've got that handled, you guys have a plan for how you're going. What are you going to do you plan to spend the inheritance or would you rather invest it? The reason I ask we show a lot of families how they can actually double the inheritance in as little as four to six years. Just
Unknown Speaker 1:06:00
By participating right here in the local real estate perfect with with our real estate professionals, is that something you guys would like to learn more about? So that is turning them into a private lender. The other. The other thing you can offer is, you know, having gone through this by now you realize that probate costs between four and 7% of the total estate value. Can you think of any reasons why you should have the liability and the court oversight of probate in your own estate? Yeah, that's a thought. So we try to make sure every family who's been through this while they you know, while it's quite a, you know, it's recent,
Unknown Speaker 1:06:37
haven't just had an opportunity to sit down with our legal team and at least see what their options are. Sometimes it's a will sometimes it's a living trust. Sometimes they just disengage and they're like, No, no, thanks. We'll go through probate. My kids are assholes anyways, but it really it's your choice. I'm just giving you the option to sit down with our legal team. And then one last thing. I'm also on the phone
Unknown Speaker 1:07:00
financial side, you know, we work with registered investment advisors. And the reason we choose them is because they actually have they, they slow down, they take more time they have a fiduciary responsibility, but rather than try to get you to invest in some hot stock pick what they're going to get a big Commission on. They actually sit down with the family, they look at your overall picture. They talk to you about life insurance, long term care insurance, five to nine college savings plans, different investment vehicles and retirement vehicles and elder care planning things because you know now, but that not having a plan is not the best plan would you agree?
Unknown Speaker 1:07:39
So, those are three meetings that I could set up for you if you if you would like I can set up one with an attorney who will help you understand how our private money program works, so you can make a really big gains with really secure investments, too. I can have a registered investment advisor reach out to help the family understand what an elder care plan
Unknown Speaker 1:08:00
College plan or even just a retirement plan might look like for you now that you have this, you're going to get the distribution. And three,
Unknown Speaker 1:08:08
we can help you, you know that I lost track. But anyways, it's that's just one example of if they've already sold the real estate, if they say we've got it handled, usually they don't they they've just they've built a behavioral pattern that will run you off. And there's lots of things like the no trespassing sign, they can insurance, the, you know, what to do with what's the inheritance. So there's there's it's just a matter of getting really understanding all of the things that you can possibly do to help the family. And the way to start there is you know, if you haven't been through this yourself, I'm somebody who has talked to a probate attorney or just sit down and think about it. You know, what could possibly go wrong? There's human dynamics, there's economic dynamics, there's a million variables that create challenges and problems for people in this situation. What is your solution for
Unknown Speaker 1:09:00
Each of those variables, and when you when you're clear on that you'll be you'll be really nimble, you'll think on your feet and there's literally no objection that that you can't handle. And that's, that's a really big part of what we do in probate mastery. I mean, the the the day number three, like, session three has it grown to be yesterday it was five hours. And it's just about the initial conversation, what you do in each of these scenarios, we roleplay objections and then we go through the appointment. So if you if you want to beat the learning curve, that that's probably the quickest way to pick this up and here, you know, 15 hours of this.
Unknown Speaker 1:09:38
But it's, it's all it all comes down to just getting really clear on what the potential is for problems for them and what your solution is for each of those problems. And just just building out that knowledge so and and, you know, it takes a few phone calls. I mean, you you're gonna fall on your face like I tell everybody in mastery. I was terrible at this when I started
Unknown Speaker 1:10:00
fell on my face the first 10 appointments or 10 phone calls were downright embarrassing, but that's the only thing that was that was the path to success, I just kept getting up and going. So show yourself some grace, you're not going to know it all today, but there, you know, you've got lots of you haven't listened to our roleplay calls, a lot of the things that are going to help you will come out in cycles. So I think we have 63 hours worth of roleplay now or maybe more than that, you know, start going backwards in time through those and just listening to that and being exposed to it will really help you kind of build that, like understand some of the options that we we do. And people ask me often, like, is there just a list you can send me with all this stuff, you know, and, and it's really hard. Like if I jump into a roleplay with you like I can go the no trespassing route or I can, you know, there's so many different things that I've learned and that I use, it's hard to just put a list out there. But if you listen to us in the roleplay, like the the organized all the leads are over
Unknown Speaker 1:11:00
Play calls on the first Wednesday of every month. There's, it's there's never been two that were even near the same. And that's what's shocking. Like in seven years of doing this, I expected it to become redundant and boring. I have a damn blast on this kid. It's always something new. There's always something to learn or a different angle, or different objection. So that's one of the best resources we have to really help you get that that you know, a good clear understanding of all the different things you can do, and then build your own language around those.
Unknown Speaker 1:11:31
Okay, all right.
Unknown Speaker 1:11:34
Go ahead. No, I just was gonna say just from listening to the answer, I think my sticking point is because they're, they're older leads and probate was filed back in February that I think I was letting the timeline kind of undermine my confidence because I have listened to a lot and done mastery twice now. I signed up and then I got to listen to to Mays, and then to June's with you and I that I definitely need to go back and listen to the role play that I think
Unknown Speaker 1:12:00
My, my biggest fears just send it so long ago now that they they truly have handled it that I like the idea. Just create some referrals. I appreciate it. And yeah, what I was gonna add like, like we just got off with, with Roger, you know, it's if nothing else that they truly have handled it, it's 100 opportunities to add somebody or serve influence, you know, help them help them in the future or ask them for referrals in the future. So it's never a wasted conversation when you're talking to somebody in your market. So All right, great question, guys. Everyone has something like just so everybody understands why I'm so firm on this. There's like usually call every single lead even if you have probate Plus, the average inheritance in the United States is 177,000 bucks. So they're either going to spend it or they're going to invest it. And if you show them how to invest money versus spending money that will come back to you in the future, and somehow your registered investment advisor will throw you a real estate lead
Unknown Speaker 1:13:00
Or they'll grow their money and come back and buy a rental property from you. I just take the take the 30 seconds to a minute and do what's in their best interest. And you'll be covered up an opportunity. That's why Roger Lisi has such consistency with so few leaves. He just he'll go out he'll like if you get on the phone with him. Get ready because he's gonna find a way to help you. And that's how you really maximize the results from us.
Unknown Speaker 1:13:26
All right, great way to end the call today. I want to thank everybody who showed up today. I want to thank you for your help your patients, virtually everyone stayed on till the end.
Unknown Speaker 1:13:37
I want to end this call like I always do. First of all, a reminder next Wednesday, at two o'clock eastern is our monthly roleplay call. Make sure you show up for that it's a great opportunity to to test your skills and challenge Chad and Bruce and I. And I want to thank each of you for being here. I want to particularly thank those who participated and I challenge each of you take one idea
Unknown Speaker 1:14:00
One thought one thing that inspired you on this call, go out and put it into practice. And come back next Wednesday and Thursday and share your results with the group. Stay healthy, stay productive guys. Thank you for being here and we will talk to you same time next week.
Transcribed by https://otter.ai