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  4. What To Do With Probate Leads | Probate Mastermind #294

What To Do With Probate Leads | Probate Mastermind #294

Recorded Live on September 03, 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:

How to Cold Call Widows in Probate (0:41)

Eddie is trying to shake his reluctance towards calling surviving spouses.  First, great job being self aware!  Second, you need to start recognizing how you can help people.  Chad discusses how Eddie can deliver his “Why” as part of his unique seller proposition.  Next, Jim points out that filing probate is the first step in getting out of probate quicksand.  Lastly, the Masterminds recall when they got over their own headfog and realized they drastically changed peoples’ lives for the better.

Related: 

  1. Cold Calling Widows/Surviving Spouses in probate.
  2. Probate Quicksand and Pulling Personal Representatives Out Of It

How to Remove Siblings From Inherited Property (10:01)

Shaya is helping a family through probate; the two sisters want to sell the property, but their brother lives there and would need help getting on his feet and moving out.  Chad offers ideas for helping people find better living situations when they need to move out of a probate property. Chad also recommends ProbateCash as a contingency option.

If Probate is Closed, How Long Should I Keep Marketing To Probate Leads? (17:00)

Kathy asks about an older lead she’s been marketing to.  The probate case is closed, but title hasn’t been transferred.  Chad discusses what situations might exist here and suggests marketing with a broader “House Value.”

DNC Regulations and Risks for Probate Real Estate Cold Calling (22:30)

Roy asks about calling numbers on the DNC list.First, Chad clarifies why our ISA call center performs extra diligence. Next, Chad shares advice on general risk mitigation for individual prospectors.

Evictions and Probate Property (24:40)

Justin asks about using the legal eviction process to remove a family member from a probate property.  Chad and Justin discuss.

How To Find Cash Buyers For Different Investment Properties. (28:31)

Jose works in Bergen County, New Jersey.  He is an investor and has always approached pricing from the As-Is pricing.  Jose is interested in whole-tailing and additional price strategy.  Chad describes different options, how to make offers that make sense, and how to guide the seller towards the option that makes the most sense. Chad recommends pricing on an investment-return basis instead of a comparison basis.

Bruce offers advice on using a website like Listsource.com to find buyers for whole-tail deals.  Chad suggests seeking out the top property managers in your market.

Related: FINDING CASH BUYERS:

  • -Chad’s Tips From The Trainer: 3 Ways To Find Cash Buyers
  • -Mastermind Call #252: Segmenting Your Cash Buyers List and bird-dogging from a brokerage standpoint
    • –(6:00) Ryan Gamble just graduated Probate Mastery and is looking for advice on building a cash buyer’s list. He remembered us mentioning something on a previous call, which was Chad’s Buyer’s Premium strategy.  Chad discusses how Ryan can build out his strategy for cash buyers.
    • –(7:25) Chad discusses investment strategies: Segmenting your cash buyers list and bird-dogging from a brokerage standpoint
  • -Mastermind Call #270: REIA Networking through Social Distancing (1:05:33)
    • –(1:05:33) John was going to REIA groups and courthouses to find cash buyers. With social distancing, how can I keep networking? Chad discusses options like Meetup.com, local facebook groups for each REIA groups. Chad discusses conversational language to use when reaching out to cash buyer prospects, and how to read who is ready to do deals RIGHT NOW.
  • -Also, learn how to present investment and brokerage options during a listing appointment: Tips for Going on Face-To-Face Listing Appointments 
  • Why EVERY Investor and Agent should have an Agent/Investor partner

Probate Real Estate Investor and Wholesaler Networking (33:07)

Jim Forsythe is looking to find a buyer for an investment property.  The property is one of the asset types Chad is looking for.  Chad also has other buyers that might be interested.  Never underestimate the power of networking – Get in the All The Leads Mastermind Group!

How To Lead  Family Through A Short Sale on a House In Foreclosure (36:30)

Zach Ruff is working with Pam Sullivan on a short sale.  The property had entered the foreclosure process before Zach was in touch with the probate executor.  The executor keeps receiving foreclosure notices and feels like they are getting sued.  This is a common misconception with short sales.  The bank continues the process regardless of the property owner taking steps to mitigate the situation.  It’s automated and it’s possible they will still receive letters even after they’ve successfully closed the foreclosure.  Jim and Zach discuss how to offer empathy and confidence here.

Probate Marketing Response Rates (42:55)

Matt sent out a letter and did a round of ISA calls for <50 leads.  He didn’t get a response. Is this normal? Chad discusses expected response rates and the window for responses.  People are busier than usual, especially with a Covid 2020 school year starting in the last two weeks.  Chad reminds Matt that marketing frequency is important for this reason. 

How Does Divorce Affect The Probate Process, Wills, and Inheritance? (46:35)

Leo is working with a probate lead that’s complicated by a divorce.  First, Leo discusses the divorce situation and the timing of the death.  Next, Chad responds with advice on guiding the ex-wife through execution of a will where the property was left to the ex-girlfriend.  If the ex-wife executes her fiduciary obligations, this can be a smooth situation.  If she stands in the way of the will being executed, a strong probate attorney or public administrator might be the best option.

Cold Calling as New York Begins to Open For Real Estate (55:04)

Michele is in New York and is looking to ramp back up as New York reopens real estate work.  Michele leads a team and will be jumping back in with several counties.  Where should she start? Chad first recommends getting on a real estate coaching call with Bruce to work on her implementation strategy.  Also, consider getting your team enrolled in Probate Mastery Training

The Best Listing Presentation: Why My Pre-Listing Package Is Ridiculously Small and Works 100x Better (58:34)

Joshua is in Houston and wants to be prepared to go on probate appointments.  What should he bring with him when he meets with probate sellers in person?  Chad gives Joshua advice on what he should bring and what mindset he should be in during the appointment.

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