Mastermind Call #244
September 12th, 2019
Today’s big takeaways: Probate Leads Season Well – Call your old leads and if you’re new, ask if we have historical data in your market!!! Can an investor or wholesaler provide retail pricing? Getting ahead of iBuyers.
- Probate Mastery is Open! September 23rd, 24th, and 25th. If you register now, you can get a head start with the recordings from the last session.
- Michael Bischoff is our Win of the Week! He outbid other investors and now has the property under contract for 40k more than his purchase price. Awesome!!
This Week’s Training Highlights:
Relevant Resources In This Call:
- Never Split the Difference Audiobook.
- Winning the Deal/Listing in Person: Playing Good Cop, Bad Cop as an investor/realtor pair: https://youtu.be/2-TAMplMjgk
- Three Things NOT to Do When Getting Started With Probate Leads (including scrubbing your list!): https://youtu.be/l71nR8vlubY
- Why You Shouldn’t Scrub Your Lead Lists: http://alltheleads.com/not-scrub-probate-leads-ever/
- Offering vendor services risk-free while you’re still building your vendor network: http://alltheleads.com/can-protect-risking-capital-motivated-seller-needs-additional-services-cleanouts-repairs-rehabs-etc/
- Competing with iBuyers and winning: https://youtu.be/FbUSGROALVE
- Q&A for Telemarketing and DNC Regulations https://www.ftc.gov/tips-advice/business-center/guidance/qa-telemarketers-sellers-about-dnc-provisions-tsr
•Jim shares a case story of an agent in Florida who sent out a ringless voicemail message (just watch your TCPA compliance!!!) out to his 1-3 year old leads and has already gotten 48 responses, already acquisitioned a condo at a 40% discount..
•2:16 Joyce Arnston from SoCal is working with a family. The father passed away, the mother is incapacitated. The beneficiaries all agree that they want to sell the assets. Joyce found out she is distant cousins with a few of the beneficiaries, and the others are worried this could be an issue. Chad gives some advice.
•12:30 Jason from Texas has some advice. He was driving for dollars before he got into probate, and the vacant home he found, the owner was deceased. He was only able to find information on a reverse mortgage through the city as part of a home rehab loan. The deadline for paying it off is December of the year. Chad’s first advice is to learn more about that financial product. Chad and Jim discuss some options.
•18:25 Jason asks about providing cash, as-is, and retail value price while doing a seller net sheet. Is it okay for he to provide a retail price? Sure.
•23:15 Jim asks if it’s worth it to call a lead that doesn’t have a property listed in probate. Chad describes.
•30:41 Clark from New Jersey typically focuses on properties that are listed as trust. Some of the properties are vacant and the mail has been undeliverable. How can he proceed? Chad advises.
•35:00 Clark asks how to get started with a vendor network without already having one established.
•37:46 Michael from Utah just got a deal from a lead – he beat out another offer to acquisition at $260k, and has got it under contract with a buyer for 40k more. His market is competitive. What can he do to get ahead of his competition? Chad and Tim discuss ideas for framing their approach, and adding new touches earlier in their marketing efforts.
•48:26 Kathy asks about a couple who has split a life estate, 70% to the wife and 30% to the husband. The husband passed away. The title attorneys are saying she needs a new deed – But this seems like the attorney didn’t do something correctly? Where did her 70% ownership go? Kathy is representing the buyer. Chad suggests presenting an amendment to the contract that includes a right for the buyer to withdraw.
Where To Find More All The Leads Mastermind Calls:
Listen/Download this Call:
Download Mastermind Call #244 Audio from Dropbox
In our weekly Probate Mastermind calls, real estate agents, investors, wholesalers and related professionals join All The Leads partners to ask questions and seek advice about different chokepoints they come across while nurturing their probate leads. Today’s call focused on how to approach probate leads as an investor, strategies for how to succeed in competitive markets AND maximize in smaller markets where only a few probate cases are opened each month, creative ideas for establishing relationships with bondsmen and attorneys, and information on both our self-print mailing templates and done-for-you direct mail marketing service.
Our goal is to provide real estate training for agents, investors, and the vendors they work with so they can offer a more valuable service by focusing on the needs of Personal Representatives and provide solutions others may not be able to.