Six-Figure Deals, Handwritten Letter Automation, and The Best Tools For Scaling Your Real Estate Business | Probate Mastermind Podcast #306

Probate Real Estate Live Coaching - Free Each Week - Episode 306

Six-Figure Deals, Handwritten Letter Automation, and The Best Tools For Scaling Your Real Estate Business | Probate Mastermind Podcast #306

Six-Figure Deals, Handwritten Letter Automation, and The Best Tools For Scaling Your Real Estate Business | Probate Mastermind Podcast #306

Probate Mastermind Episode #306 | Recorded Live on December 3rd, 2020.  

Join Us Live Every Thursday | Previous Episodes.

 

Episode Summary: 

In this episode of the Probate Mastermind Podcast:

  • Chad, Bruce, and Jim share their predictions for the 2021 housing market
  • Eddie discusses the A-Z of his recent six figure probate deal
  • The coaches discuss how to offer lock change services to win prospects
  • We cover which real estate CRMs and Virtual Assistant services are the best fit for your business
  • You’ll learn how to automate handwritten letters for follow ups  

***Most importantly, we hear more incredible success stories from rookies and veterans that are turning probate leads into listings, acquisitions, and wholesale deals!

 

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!

 

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Call Re-cap:

 

Donate $100 of Ray Dalio's Money

Donate $100 of Ray Dalio's Money (1:18)

Chad shouts out Ray Dalio and his initiative to donate $100 to the charity of choice for 10,000 people.  Chad posted the link inside All The Leads Mastermind.

 

 

More Reasons To Take The Certified Probate Expert Course

More Reasons To Take The Certified Probate Expert Course (2:28 and 18:24 and 30:16)

Chad is redesigning Probate Mastery to deliver a better experience AND expand alumni benefits to a full fledged community with advanced weekly mastery coaching calls.

 

“But I'm going to try to expose you to a deeper level, to entity structure, asset protection,  and investment strategies that I use personally, and for the families that we serve.”


“I'm going to build a digital marketing component where you'll understand how to take the leads you already have and reach them in a multimedia campaign.”

 

 

Probate Real Estate Coaching With All The Leads summary

Probate Real Estate Coaching (4:20 and 25:09)

Bruce runs through the probate coaching options included with All The Leads Probate Leads as well as private options for coaching.

 

 

Eddie Lands a Probate Deal With A Six-Figure Spread

Eddie Lands a Probate Deal With A Six-Figure Spread (5:58)

Eddie discusses a deal he’s putting together involving a historic home that will net him a six figure spread when all is said and done.  He describes his follow-up and what worked in building rapport, providing options, and getting a procrastinating seller to become a motivated seller.

“I wrote him an appointment card, like you get at the dentist and I mailed it to him and I said, Hey, we're going to meet, I look forward to our appointment at 1130 on this day. He was there.”

“you bought a house with leadership and influence, not pressure”

 

 

I’m Closing A Probate Sale - But The Family Needs Help Outside of Real Estate!

I’m Closing A Probate Sale - But The Family Needs Help Outside of Real Estate! (11:55)

Scott listed and sold a house from his probate leads list - But the family needs help with so many other things. Scott wants to help, but they are outside of his area of expertise and it seems like their attorney hasn’t taken the lead on any of the issues the family needs to handle.  Scott doesn’t want to step on the attorneys toes - What’s the next move? Chad makes an important point about attorneys being trained in the legal profession, not in the business of running their own business. Chad provides some conversational language to build a stronger relationship with the attorney and ensure the family gets the help they need.

“Attorneys are small business owners who were not trained in small business, they were trained in the legal practice.”

“I hear a massive convergence story, for future conversations... By sharing the story of someone else, you get the person that you're talking to self identify as having some of those same potential problems.”

“You're doing the work. You may as well take credit for it. And if you slow down and step out of your comfort zone and capture these things and then repurpose them as a marketing strategy, but very discreetly as valuable content that goes out into your community.”

 

 

 

Real Estate CRMs: Podio, Salesforce, Custom - Which Is Best?

Real Estate CRMs: Podio, Salesforce, Custom - Which Is Best? (21:34)

Caller is interested in finding a CRM that will help him scale his business and accelerate growth.  The budget is there if the ROI is there. Chad discusses some differences between Salesforce, Podio, and custom platforms. Chad also discusses Sierra Interactive, the platform David Pannell customized and used to scale his real estate business.

“But the great thing about Podio is there are certain investors in certain realtors that actually sell everything they've done to customize it as a plugin for a few hundred bucks. And they probably spent, 20 to $50,000 to get it to that level.”

 

 

 

Real Estate Tips: Where To Hire a Virtual Assistant for Real Estate

Where To Hire a Virtual Assistant for Real Estate (26:32)

Caller is ready to hire a real estate assistant to handle administrative tasks while he focuses on dollar-productive activity. Like plenty of others, he wants to know where to look to find and hire real estate virtual assistants. Chad discusses Daniel Ramsey’s My Our Desk or Amy Ramsdale’s REVA Global.

 

 

 

Preview for Real Estate Advice: Handwritten Note Automation - WOW Your Real Estate Prospects

Handwritten Note Automation - WOW Your Real Estate Prospects (35:01)

Fed is evolving his follow-up and mail marketing game by sending out hand written notes to prospects AND real estate attorneys.  He sends direct mail, makes his cold calls, and ideally sends a handwritten letter to follow up after.  However, time is getting short.  He has created vector templates to speed up his follow-up note writing, but it’s still taking too long. What can he do? Can he hire a virtual assistant to handwrite his letters? Chad reminds him All The Leads offers handwritten letter automation - No more time wasted writing probate letters or any other real estate letter.


“when you're prospecting, you're going to use the shortcode function in the CRM. And when you, when one of those happen, you're going to put in the short code, send note card…..You can do it in under a minute.”

 

 

 

Preview for Real Estate Mastermind Segment: Changing Locks On Behalf Of Clients: Proof Of Permission

Changing Locks On Behalf Of Clients: Proof Of Permission (44:22)

Richard, Chad, and Bruce discuss some good storiesand not so good stories of changing locks on behalf of clients and prospects. Chad describes how to write letters that ensure a locksmith has permission and will be paid for their service.  Changing locks is an awesome way to win a visit to the property and get a foot in the door with prospects - Just make sure you have proof of the seller’s permission!

 

 

 

Preview for Real Estate Advice: 2021 Housing Market Projections

2021 Housing Market Projections (48:32)

The coaches discuss the state of the market, predictions, and where to find opportunities for great deals. Chad gives a brief projection on how inflation, false inventory reads, consumer behavior, and appointments like Janet Yelin will impact the real estate industry.


See More: Chad’s SHIFT HAPPENS Live Webinar Series: Finding Opportunities In The Coronavirus Landscape

 

 

Looking to hear prospecting tips in action? Check out our live role play series.

 

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Episode Transcript

Probate Mastermind Real Estate Podcast Episode #306

 

A.I. Voice Narration: [00:00:00] Welcome to the Probate Mastermind Podcast. These episodes are recorded live once a week and are hosted by the AllTheLeads.com coaches. Agents, investors, and wholesalers join the coaches each week for everything from marketing tips, sales, psychology, live deal analysis, transaction engineering, advanced real estate strategy and personal development.

You will learn to get more listings, more deals and find financial freedom by listening to these episodes. Be sure to catch show notes at AllTheLeads.com/podcast and join our free Facebook mastermind community: https://facebook.com/groups/AllTheLeadsMastermind

 

 

Jim Sullivan (Host/Coach): [00:00:33] Welcome phenomenal agents and investors nationwide today is Thursday, December 3rd 2020  and this is mastermind podcast, number 306. Hope y'all had a great Thanksgiving and, hope you're looking forward to the holidays. And you're also staying productive at this time when a lot of other agents and investors aren't working,  it occurred to us recently that.

A lot more of you are taking advantage of the podcast online format. And, many of you may not be coming to our calls. before we get started, I wanted to give, our two coaches an opportunity. Chad, would you share with everybody? I know there's changes coming to mastery. Would you let everybody know when mastery is and the changes and how they can get signed up for it?

Donate $100 of Ray Dalio's Money [00:01:18]Chad Corbett (Coach): [00:01:18] Sure. And I've got one of the things I'll lead with. I just posted. So Ray Dalio is someone that I look up to as a mentor. And I really, I learned a lot and drawing a lot of power and knowledge. He's only one of the most interesting campaigns that I've seen where he's donating a hundred dollars gift card to anyone who volunteers.

The first 10,000 people. And it's a really brilliant way for him to build his marketing lists of like-minded people, but also spread a million dollar donation around all over the world, by letting someone else choose the charity of choice up to three. So I extended that to you. Yeah. As I posted it in our Facebook group, all the leads mastermind.

There's really no strings attached. It's just a philanthropy campaign. If you go drop your name, email address, then you'll get an email with a code as long as you're one of the first 10,000. And I just vetted it out and shared it with you guys. So if you feel like if you're in the spirit of giving, and if you're not familiar with who Ray Dalio is, he's a great guy to follow for economic and social

research and he's one of the most successful hedge fund managers ever, but also a philanthropist.  so that's my spiel,  check out all the leads mastermind on Facebook, and you can find that link.  More Reasons To Take The Certified Probate Expert Course [00:02:28]Probate mastery is finally evolving into a masterclass, so I'd chosen to teach it live, because it's more fun for me that way I get to interact with you guys, but it's turned into.

Something bigger than me and people waiting around sometimes for weeks for me to actually teach the live class. So to be able to get you guys the full form of everything I can teach and to have instant delivery and to still have access to me, it's going to transition to a digital course. That's going to be much longer.

I, it's somewhere between 20 and 24 hours of content because I'm adding in a lot of the more advanced things that we. Sometimes talk about in the Q and a and sometimes comes up on these calls. So you'll have immediate access to the full course, the full curriculum. And then every week you'll have a, you'll have access to me in a live Q and a, mastery coaching call.

So it's a way for me to deliver more value faster to you.  It will be going up in price. we introduced it at 250 and I've just left it there, but,  I've got big visions for this and I'm going to give it everything I've got. the final pricing isn't decided, but, it will not be 250. So if you have been waiting to take mastery, this is the last class that we'll have at two 50.

And for all alumni. Joyce, if you're listening, I know you've been 40. This is month 41 for you consecutively.  you'll still have access. Anyone who's already had the course will have access to the course once it's open and you'll have access to the group coaching call. We start on Monday 3:00 PM and Tuesday and Wednesday at the same time.

So if you're, if you've been waiting to get in mastery, jump in and it's likely we'll out sell it. if we oversell it, just check your email that comes out here in a few minutes. I have a plan. If we do oversell the a hundred spots, I'll take care of you.

Jim Sullivan (Host/Coach): [00:04:12] Thank you, Chad and Bruce, you want to share real quick, give an overview of what you offer to our subscribers and to everyone out there.

Probate Real Estate Coaching [00:04:20]Bruce Hill (Coach): [00:04:20] Yep. Okay. basically we have two different coaching platforms that are available that are private coaching platforms. first off for any of our subscribers that have not taken advantage of a free coaching call, you can get that once a month, a 15 minute call. Basically we cover either strategy or accountability, give you an overview of your business and kinda drill in on some of those adjustments that you'd need to make to be successful. if you have been taking advantage of that, you'll probably notice that my calendar is starting to fill up. I do still have some openings available for private coaching.

So if you want more than 15 minutes a month,  what we have available is, anywhere from an hour. Of extra private coaching a month where we really dig deep, all the way up to, you could get, four hours a month of private coaching. We go really deep. It's much more granular than the 30,000 foot view that we give on the 15 minute call.

And, should really propel and push your businesses forward. So if you guys want to have a private conversation about what that would look like, what kind of costs there would be associated with, just jump on my calendar,  grab a 15 minute call. We'll go over that. And if we need to talk a little bit more, I'll give you another private link for that.

Perfect. And you don't offer a 24 hour program like they can just come live with you for the day. Chad does. No, sir.

Chad Corbett (Coach): [00:05:41] I'm picking up my new toy hauler, my new fifth wheel home tomorrow. So if anybody really wants it, I'll come to you.

Jim Sullivan (Host/Coach): [00:05:48] All right. Sounds good. All right. we got a full, cute guys. We got an eight in the queue. let's get started. First up this week is phone number ending in five, four 64. You're up first

Eddie Shares a Probate Deal With A Six-Figure Spread [00:05:58]Eddie V: [00:05:58] in Kansas city. How are you guys doing great Eddie? What's up.  just giving you an update on the, I've been talking with Bruce about this one for I think a month, but, I think the ink is still drying on this contract.

Chad has told me to send him the contract, in the mail.  I didn't do that. I was close to, sending in the mail and her price thing. Give me a call.  but we met over the house this morning and. He was like, I was like, Hey, I had texted him earlier. I was like, Hey, I still want to get together.

you want to get this house sold before the end of the year, let's get a purchase agreement signed. And he was like, yeah, but we still got to talk about price. So I was like, perfect. So we planned on today going by. And I had actually bought the house three doors down last year for 40,000.

So he said you bought that house for 40,000. We'll do this house for 40,000 too. Which works perfectly. I was prepared to go to 45 and, we sold the one, three doors down for two 10. Holy smoke though. That's incredible. How much did they put into it? We put one 10 in it.  but the one that we're buying is a nicer shape.

it has better, it's a historic home. It has better historic features like the Cedar shake siding and the stones in great shape and, the detail on the exteriors really fantastic.  so there's a lot of really cool things that the other house didn't have. So we're thinking this one will sell for around two 40, so pretty excited about it.

Any way you look at it, you have a six figure spread in this deal, right?  yeah, so yeah, it's a good deal. Congratulations

Jim Sullivan (Host/Coach): [00:07:29] Anybody to beat that for the, for the winner of the week. That's awesome.  so job, I've literally been working on it for a year. I'm telling people I'm not sure that's what I want to dig it.

Chad Corbett (Coach): [00:07:37] That's what I want to dig into. How many other investors do you think, or has he told you he's met with.  I don't think he's met with any,  he's probably been contacted by a lot because it looks like a vacant house, but I don't think he's contacted any of them. It was. So your first impression and your follow-up was that impactful that he's only been speaking to you about this for a year?

Eddie V: [00:07:57] Yeah, I went to his house. I just kept going to his house and knocking on the door because he lived, he lives like a block and a half away from this particular house. And he owns the rental across the street.  the neighbors knew who he was and told me where he lived. So I just went and knocked on his door.

Chad Corbett (Coach): [00:08:12] What else? service,  other than the convenience of a fast closing before the end of the year, when he procrastinated until the end of the year, other than that, what else did you have to do for them?

Eddie V: [00:08:22] We, there was a ton of like his brother lived there and there was a ton of stuff in the house.

So I called, I was like, Hey Ken, can you even tell what's going on in here? He was like, not really. So I was like, how about we just have a, the city does bulk item pickup. I was like, how can we do a bulk item pickup and haul all this big stuff that you don't, that just clouding what's going on out to the curb.

So I had a guy that works for me come over and haul out, old Michael has, his brother was like a tinkerer. He had a bunch of old microwaves and old stove and old refrigerator, a filing cabinet, a couch, an old TV, some old speakers and it just cleared out the house. So he was able to get a better view at what he wanted to eat.

And,  then he, I think that was just a big help for him. And. I think the service that I provided was just that I got the ball started. He's been, I think, grieving over his brother's loss for, three years. And the first time I went and saw him and he was like, I've got to get some stuff out of there.

Let's talk later. So then I went back a year. I went back multiple times, but I only got him a year later, nine months a year later. And. He was like, Oh, there's some stuff in there. I got to get it out. and I was like, so I didn't let that go. I was like, okay, how can I help you?

And then he put up another objection. I was like, all right, we can figure out an option. Do you want to, if you want to sell it on the market, but we need to go over there and take a look at it together and talk about it. And he really knew that I wasn't going to let him go by just blowing me off.

And so then we set up a time to meet. I wrote him an appointment card, like you get at the dentist and I mailed it to him and I said, Hey, we're going to meet, I look forward to our appointment at 1130 on this day. He was there. We met, we talked through it all. That's when we scheduled the bulk items thing, he gave me his phone number, so I didn't have to go to his house anymore.

Chad Corbett (Coach): [00:10:09] Cool. Here's what I hear, man. you bought a house with leadership and influence, not pressure.  You help them through the probate clicks and you ushered him through his, whatever emotional breakthrough that it took. Like you, you were persistent and knowing what was in his best interest and he gave you a price even lower than what you were willing to pay.

And I know I'm stating the obvious to you, but there's a lot of people listening that haven't done this yet. They haven't made six figures in a year, much less on a single deal. And I think what you've done is it's worth capturing. So thanks for elaborating on all that. And Eddie, I'm going to, I'm going to ask, how long do you think he would've let this go on if you'd not taken leadership a decade?

Eddie V: [00:10:51] yeah. I don't think  until he couldn't mow the lawn anymore. And the city got after him that much because the lawn was like the other thing I'm going to,

Bruce Hill (Coach): [00:11:00] the other thing I'm going to point out is, he named the price. Okay. And a lot of times we as investors and agents, people try to pin us down on things like price and get information from us on the phone before we've proven value and been able to meet with someone.

And, that's a mistake. So I think that you did a great job on getting him to naming the price, which was clearly inside of your budget. So that's a great job.

Eddie V: [00:11:26] Yeah. what I was going to do before he was going to throw it out, Chris Voss does give a range and I was going to give him a range and see if he could go in there.

And he, he just did that without me having to, but,  it, it worked out well. I'm pretty excited, that I got this again, so

Chad Corbett (Coach): [00:11:43] that's awesome, man. Thanks for sharing the story. You're welcome. Great story. Appreciate it. All right. we have four, four more in the queue. next up is phone number ending in two, four or five, zero.

You're up next I’m Closing A Probate Sale - But The Family Needs Help Outside of Real Estate! [00:11:55]

SLC Scott: [00:11:55] Hi how are you doing? Doing great. How about you? Great. This is Scott I'm in salt Lake city. I'm calling, I've got a couple of questions on the new probate mastery. Is there something that both I could go through as well as my assistant, while only paying for a once? Or do I need to pay for that twice to, in order to do that?

Chad Corbett (Coach): [00:12:11] It just depends on if you want her to be or the him or her to be certified as well. So the price is for the class and certification. Okay. Yeah, I think I would be the one that would be certified, but I want them involved in the content to learn as well, if that's okay. Okay. Yeah. you can share with your team.

SLC Scott: [00:12:28] The other question I had last question is I'm in the middle of a transaction. It was one of the leads that I got from you guys,  listed the house as a real estate agent sold the property. It's under contract in the settlement deadlines popping up. And I'm finding that these people have so many more problems than what I even knew, and they just don't have a clue how to navigate it.

They've got life insurance they haven't even pursued. They've got lawsuits that they need to file and go after other money. They've got so many things happening and I had a really good relationship of trust with them and it's just it's opening my eyes. what do I need to do to help them more?

But as a real estate agent, isn't you can only, I can only do so many things. And like question is, I feel like going and talking to the attorney, if at all possible. And I want to find out why an attorney wouldn't recommend they do certain things and where that attorney leaves off. How can we help people and serve people better?

Maybe you can give me a little insight as to what the attorney, a probate attorney specifically does.

Chad Corbett (Coach): [00:13:26] So you're a small business owner, right? Correct. You ever gotten in a slump, drop the ball. Couldn't keep up with all the inbound, everything that had to be done made a bad hire. You felt that she had to go right.

Everybody on this call has. And what most people fail to forget as attorneys are small business owners who were not trained in small business, they were trained in the legal practice. Law school is not designed to turn out good entrepreneurial attorneys. It's designed to turn out legal professionals. So understanding like B, just like with the person, the family is you need to be empathetic to that attorney's position and why they might not be providing the level of service that you or the family expect.

Now, I don't go in there with a negative judgmental mindset, go in there and say, how can I help you provide this higher level of service? Or can you push this off on the me and trust that I'm the right person to connect them with a registered investment advisors that will help them transition and, like trigger the transfer on best cause and receive the life insurance funds.

Okay. Get them to a litigation attorney who can follow the lawsuit that you referenced. If he's a probate attorney and he's already dropped on balls, you don't, he doesn't mean to be the litigation attorney. If this matter, you need it. You need a bulldog. So go get them that registered investment advisor, go get them a bulldog litigation attorney.

But I think you're absolutely right. You do need to go look at that attorney face to face and sit down and say, man, listen, I consider you a member of my team. I didn't know how much help these people needed. So I haven't called for this appointment, but I've learned some things lately. Like I'm going to help them close the real estate.

Then they need help with moving life insurance. then they need help with, with pursuing this litigation. So are you, I just wanted to make sure that I have your endorsement, that. That you're okay with me helping your clients connect with the right professionals that can get those jobs done for them as fast as possible.

And he's going to respect the hell out of that.

SLC Scott: [00:15:12] That's a great approach. I, my approach was going to be from a giving perspective. I want to give these people something and maybe find out how I can do that with him, knowing that he's the probate attorney and not having to step on his toes. So you're not, you're just helping him.

Okay. Okay. That sounds like a really good approach then I, and obviously that's the type of thing that would build a good relationship with that attorney and nobody else has Brene Brown. I'll bet you. Yeah. Yeah.

Chad Corbett (Coach): [00:15:36] And when he knows you're not trying to monetize that service, you get even more social credit.

Bruce Hill (Coach): [00:15:42] I think  that I hear when I hear that story is I hear a massive convergence story, for future conversations that you have with PRS is you get into a conversation and you say, do you mind if I, do you mind if I share a story with you? yeah, sure. Yeah. this is what I experienced with some other clients, Bob and Jane, true story.

They were working with such and such an attorney. And, we just weren't because of the attorney relationship and because they expected the attorney to handle everything, they ran into this and this problem that they didn't even know about. That's where I came in and helps them out.

And so by, and all of a sudden, by sharing the story of someone else, you get the person that you're talking to self identify as having some of those same potential problems. And it really builds massive credibility. So I'm going to encourage you to use this experience in your conversations from here on, and were you on the call yesterday?

SLC Scott: [00:16:35] I missed it. I was in a training, a class and I couldn't make it yesterday. No.

Chad Corbett (Coach): [00:16:40] Okay. So we talked about a completely different idea, but the idea was how to turn that into a turn those stories into content strategies. So how to use that story to create a one big piece of content and then little articles that kind of branch off of that to get your name out there.

And you can get years of mileage out of that story, if you document it. So you want written testimonials, you want video testimonials, you want to do a zoom interview with the attorney. You want to do a zoom interview with the litigation attorney. You're getting involved with the registered investment advisor.

Each of the family members, their kids, like any other kids that are over 18 years old and what the difference that equity and the life insurance and the asset equity like. Milk it for all it's worth like show that to the world. You're doing the work. You may as well take credit for it. And if you slow down and step out of your comfort zone and capture these things and then repurpose them as a marketing strategy, but very discreetly as valuable content that goes out into your community.

You'll put a flag in the sand that nobody will ever be able to take from you. And you will create a sellable asset, not some short-term revenue stream.

SLC Scott: [00:17:50] Cool. I like that. I like that a lot.

Jim Sullivan (Host/Coach): [00:17:52] All right work. That helps Scott. Anything else?

SLC Scott: [00:17:54] Yeah. Great job. Is that super helpful? I really appreciate it. I literally just walked out of their house before hopping on this call.

My next call is to the attorney and try to go and meet with them and get things going. So I appreciate it. Thank you guys.

Jim Sullivan (Host/Coach): [00:18:06] Thank you. reminds me of last week. I think we had, eight participants and six of them had great success stories. So these are my favorite calls. You guys tell me that, you know what you're doing and what we're teaching is working.

That's awesome. All right. next up is a hug. Thank you. Next up is so number ending in six, two, three, one. You're up next.

Marker [00:18:24]

Caller 1: [00:18:24] Hey, how are you guys, got a question for you when you switched to the new format and mastery, do we lose any of the archive mastery training? No, I'm going to put up a, I think the best class I ever taught was the October class.

Chad Corbett (Coach): [00:18:39] And I'm going to put that into a, kind of a memorialized last format where it'll remain as like the, unless I do a better job this month, we just had a really big crowd and we got into a lot more advanced topics in the Q and a was almost eight hours in that course.  Whether it's the course that I'm going to teach next week or that one I'll have that version available to you.

Forever all the recordings that you've gotten in the past will remain there on go to webinar server. So they'll you'll have access to those, but then there'll be that one version that's always available. So you can see what it used to be and how it got to where it is. Great.

and some of the new. Training 24 hours worth. That's a lot of training. Are you going to go into some of the subtleties of,  your sales mastery, how how I dig a lot more into psychology and really, even some neurology. But the bigger addition to it will be on how you structure your business, how to PR, how to structure assets, protect assets, build your own estate plans, contain liability.

Like I'm basically going to show you how I've built, what I've built and, minimize taxes, maximize value. And. Really protect everything. You've worked so hard for, because that's what I find myself. When people hit a certain level of success. That's where I feel like everyone has blind spots and then they come back to me and as we build our relationship and they scale this, I feel like I've left that out.

And from how to properly.  put firewalls in place. If you're doing brokerage and investing and private money lending and capital raising, and it, at a certain point, if you keep pushing it growing, you'll be doing all those things. And you'll just be one person. You don't have to be four different brands.

And then you choose which strategy and which entity, fits this person's situation best. So it's going to be some of the more advanced things that you wouldn't expect to get from just a probate course. Because as I've done this long enough, I realize like it's just something that nobody else, people don't seem to be learning that elsewhere.

So I'm going to give you advice and, ultimately it'll be you and your attorney or your CPA that chooses a structure for you, but I'm going to try to expose you to at a deeper level, to entity structure, asset protection,  and investment strategies that I use personally, and for the families that we serve.

and then. more psychology and neurology. and why I say more specifically why I say some of the things I do and how I say them. So that's some of the stuff that's being added in and best I can figure in my outlines. it's probably gonna be pushing 24 hours of total course content.

And it's probably should take you three to six months to actually implement if you hit it hard. And it would take three to six months to implement what I'm going to pack into the course, but it's all going to be one step built on top of another. So that doesn't matter if you pass the information part and you get your certification, then you can dig into the business structure and all the other stuff.

Real Estate CRMs: Podio, Salesforce, Custom - Which Is Best? [00:21:34]Caller 1: [00:21:34] Sounds great. I'm thank you for having our backs with that. Not a lot of people think of that night. I definitely am excited about that. That's for sure. As well as the, you're helping us with the psychology and the neurology and the bits and pieces and subtleties of sales mastery, which you really are a pro at my question is if you're.

If you're doing other things other than just the probate, and your CRM. Do you have any CRMs you recommend. Whether that's freedom, soft, real flow or REI Blackbook that, if someone wanted to have a bigger, more robust CRM and scale their business,  any suggestions,

Chad Corbett (Coach): [00:22:10] a really difficult question to I'll answer. I'll answer with a question. What is your level of tech savviness?

Caller 1: [00:22:15] Yeah, so throw out, the, the Podio, cause I that's two ways. That's too much that's I knew you have to be like a programmer almost. It seems. And if you think that's no, you don't. If you're really, and tech savvy,  it seems to me like you have to know a lot about different things or spend a lot of money just to hand it over to somebody to build that.

So yeah. My next question is what is your budget? It in my answer is just like anything in real estate, it's all a return on investment. if I'm going to spend five or $10,000 on marketing, but I'm going to get a giant ROI, we'll find the money to make that happen. Just as much as, a different street buying a single family home or a 300 unit complex.

If the numbers are there, one must find a way it's just a great deal.

Chad Corbett (Coach): [00:23:02] so there's a ton of there's obviously.  and there's a lot of consolidation happening in that space right now. Salesforce just announced their disposition or their acquisition and acquisition yesterday.  so there are literally dozens upon dozens that you can choose from.

It ultimately will come down to what are your business strategy? How fast will you outgrow?  a box solution.  Salesforce is super powerful, super expensive, and set up Is costly and takes time.  Podio is one of the simpler ones, not to disappoint you, but it is simpler. But the great thing about Podio is there are certain investors in certain realtors that actually sell everything they've done to customize it as a plugin for a few hundred bucks. And they probably spent, 20 to $50,000 to get it to that level. So there's Podio is probably the fastest because someone else has already done the work. You just need to find the version that best fits your strategy.

the most, one of the most powerful that's like the, that you could build on your own. That's simple and backed by really good support team. I really liked the tools that HubSpot is making.  if you're, stretching outside, if you've outgrown our CRM and you want to bring other strategies in HubSpot can be turned into a really cool marketing machine.

And it's very affordable at the beginning. And as you scale, you move up. The price scale, kind of like the MailChimp price model.  so I would encourage you to pick up the phone and talk to those guys. look for the people in your, in the other industries that you're working in or the other strategies you're using.

look for Podio plugins that I've already, someone else has already paid to build and perfect.  but as far as probate goes, all that said I've yet to see one that will handle the data we provide and manage your lists anywhere, close to what ours will without spending 25 to $30,000.  and Sierra interactive as the one that I've seen that took what we've done and built on it.

David Pannell is one of our subscribers and, very successful in this niche, but he's invested a considerable amount of money and time working with the, with their development team. So I wouldn't suggest it for almost anyone. he's just running at a much faster pace than most of us.

Caller 1: [00:25:09] Great. And the private coaching. I'm just new to this and I just signed up for the training next week. And I'm really excited about that, but I never, I knew it. I never knew about that free coaching call for 15 minutes. And w how do you get on that? And also one wanted to do the hour or four hours a month or whatever it is, what does that cost and how has that work?

Bruce Hill (Coach): [00:25:30] So first you want to tell them how to get started. So if you, if you're going to take the private coaching or the 15 minute free call, log into your portal.  when you click on the training dropdown, and then I believe that the link under training in the menu, so right in the menu training, and I believe the link says schedule a free coaching call and those are, 15 minute blocks.

And, to go into you more details on what you need out of kind of the private coaching, anywhere from an hour to four,  More or less,  essentially after that call you and I would probably just schedule or any of the other subscribers on this call that once that after the 15 minute call we'd schedule, another short call to just really dig into the needs of your business and, go over pricing and things there, because it's almost impossible to price that.

And so I really understand the needs of what someone, what someone truly needs. Sometimes it might just be a mastermind group with a couple of other people. Sometimes it might be a couple hours every other week just depends.

Where To Hire a Virtual Assistant for Real Estate [00:26:32] Caller 1: [00:26:32] All right. Cool. And do you guys presently recommend any VA services if you wanted to get some help,  just implementing all this stuff so that you're not totally, all on your own and overwhelmed, are you looking for full time?

full-time,  eventually, but probably don't have enough, unless you'd say to me a mic after you take this master, you're going to see you. You got more than enough than 40 hours, or you may say, 10 hours or 20 hours, I'm thinking I have a need for 10 to 20 hours. Right now,  okay.

That's perfect. I'll tell you this, if you're serious about what you learn in mastery, it'll take you 10 years to implement  at the highest level you can, all of the ideas that we talk about. So if you're committed to delegating, the one I would suggest is, my out desk and my friend Daniel Ramsey owns that.

we're not affiliated. It's just one of the companies that we like to support because we believe in what they're doing.  they pour their souls and other people,  they're Philippine based, but they have literally built schools and office buildings and created, an amazing culture around, remote work.

So you can schedule a free call. if you want ask for ask, if you could do it with Daniel Ramsey, there's a, we did a tips from the train or ask the expert series. If you go to the learning center on all the leads.com actually go to the search bar and just type in my Outdesk or Daniel Ramsey.

And it'll bring that up. But yeah, Daniel and I did an interview, I don't know, maybe a year ago where we talked about how that can work in your business and what their model is, but that's who I would suggest if you want the least. Growing pain.  because they came up in the real estate industry.

they know they are like, Daniel was a real estate investor. And like he knows the business we work in and he trains the people. So they know the business we work in. So that would be the path of least resistance. there's lots of other companies out there Riva,  another friend of mine, Amy Ramsdale.

owns a company called REVA R E V a and I think they're, they're Atlanta-based but they're going real estate investor, virtual assistance, and that's a good company backed by really good people so you can consider them. those are the two that just people that I personally know and trust that are there do-rus, not gurus.

So they've been in the trenches learned and then built those companies. Great. Do either of those, have VA's that are good with, the websites and the fit in, and whether it's pay-per-click or Facebook marketing ads or that's something I have to train them from scratch.  I think probably my Outdesk is going to be your best bet there.

they, they certainly do a lot more training and development of their employees. And what you'll find with my desk is you're not going to get you. Won't get assigned a VA, like you will an Uber driver. You're going to get, they will hand select and train and mentor a person based on your values and your business model.

Bruce Hill (Coach): [00:29:24] And that will be your full-time employee, or at least part-time employee. I think they start throughout. I think they start at 20 hours. Okay. Chad, I'll throw in. I've had five. my Outdesk VA's and, you also have, have input into who they assigned to you. So you get to interview them with my Outdesk before you actually hire them.

And then they go into a training program. So it's really good. And just in case any of them don't have. Do not have expertise in, let's say web development or social media or Google advertising, anything that you need just in case when you schedule that free call, I can go over a couple of the other options.

I would agree with Chad that my Outdesk is probably the best one that's out there.  so I'd lean toward them first, but if you can't find the specialty you're looking for, there are other offshore based VA programs.

Caller 1: [00:30:16] Awesome. And last question, Do you guys ever use the strategy where I hear some people are doing this where, with Facebook, advertising where you can get a list, whether it's the list from the probate, the probates from you guys or list of.

Probate attorneys or what have you, and somehow upload it to Facebook and went over those executors. All those probate attorneys are on Facebook. They're your, there's your ad popping in front of them. You know what you know, with, the property solutions, probate property solutions company, where we buy houses thing or whatever it is.

That's popping up there, especially if, you want to go that extra mile,

Chad Corbett (Coach): [00:30:57] I'll make your day. That's actually going to be part of the new mastery course. I'm going to build an, a digital marketing component where you'll understand how to take the lead you already have and reach them in a multimedia campaign.

So we've talked about it on these calls. If you use the search bar on the top, Of all the leads.com you can put in Facebook or custom audience, and you'll be able to hear two or three different calls where we've gone long form and explained how to do it. What I've found is very few people ever can get that implemented.

So that's going to be part of the marketing, how to modules, in the new version of mastery.

Caller 1: [00:31:32] That's great. And of course, in a perfect world with right trained VA's we already know a little bit about social media. You wouldn't, if someone were to not be able to themselves implement it, that's where you would say, Hey, here's some general stuff, but what I'm trying to do.

go do it or figure it out. Cause that's there, they can do that and they can make it happen. That's one of the reasons why, you know, I was bringing up the age cause I know that there's those strategies out there that I may not have the patience or I might have just too much add to get in front of the computer and just,  drive myself crazy and take the time to do it.

But I'd like to hire an outsource that's stuff. And yeah, I think that's great that you're, that you're going to it. You're going to teach that because I heard that's a pretty, a nice thing. And it's only mind you, if you're skip tracing the call or you're emailing them and they're not responding, but you really do want to know.

Be more effective and just throw one more thing into the mix to increase your you're. You're making that person recognize, Hey, maybe they might want to consider you do your service and get some more information.

Chad Corbett (Coach): [00:32:39] we talked about earlier, like the multimedia campaign and that's part of the marketing training that I feel like I've missed.

And it will include obviously the direct mail and phone calls that we always talk about that I think will always be important. But adding in. proper email marketing. how do you write proper subject lines? What is good copy versus bad copy. What's a standard to set for yourself and beat.

And then what you do on Facebook, on Google, on these different digital platforms. And how do you tie that all back together in the organic stuff that you're doing with attorneys and with nursing homes. And so it'll take them all of the marketing avenues and show you how it all ties together with what we were already teaching.

And most of us are already doing. But that's not going to happen. this coming up one that's somewhere down. Yeah. If I can drink enough coffee, I hope by January or sometime in January. It will be long.

Caller 1: [00:33:31] Very good. Thanks. Thanks so much. I appreciate it. God bless you guys.

Jim. You still there? Yeah, this is next up. I am here.

Navigating All The Leads' Probate Prospecting CRM. [00:33:37] Jim Sullivan (Host/Coach): [00:33:37] Next up is, nine two nine six.

Rich: [00:33:39] Yeah, this is Rich. Quick question. I'm new to ATL. I downloaded the CSV file and I was noticing from trying to distinguish between the deceased's name and the PR representative. I've got to go multiple fields and I've tried to use freeze frame, but, it freeze.

and, and I, either I'm not proficient, so whatever I've been going on YouTube, but they've got older models of Excel on there.

Chad Corbett (Coach): [00:34:02] Can you tell us what the purpose of doing it in a CSV versus a CRM? Why are you doing it that way? Oh, in other words,

Rich: [00:34:09] I just downloaded it because that's what I thought you was supposed to do.

it says now you want to download,

Chad Corbett (Coach): [00:34:13] when you log in, log into subscriber portal, you'll click on my probate leads and where you downloaded that it was showing up below that in the list view and, the CRM view. And you'll click on it, click on the PR name and then that will open the lead detail view.

So everything's right there in a easily usable format.

Rich: [00:34:32] Okay, so you can see the PRS name next to the deceased member's name. So you don't have to slide back and forth.

Chad Corbett (Coach): [00:34:38] Yes. And you can also customize your view. If you look, when you go into my probate leads, there's appeal button, a little square teal button.

If you click that, it'll allow you to hide or reveal additional columns and you can reorganize those to suit your needs. Okay.

Rich: [00:34:53] Thank you. I didn't know that. Thank you. All right. Excellent. Next up is phone number ending in eight, two one three. You're up next.

Handwritten Note Automation - WOW Your Real Estate Prospects [00:35:01] Fed: [00:35:01] Hey guys. How you doing?

Jim Sullivan (Host/Coach): [00:35:02] Good. Excellent, sir. How about you hall as well?

Fed: [00:35:05] Thank you. I have a question about attorneys then one that may actually, you guys may go back to my Outdesk, but I'm not sure. often when I cold call or lead generate whatever we wanna call it.  if I don't get a hold of a person, I usually leave them a voicemail.  but in addition to that, I try to, quote unquote, touch them,  in another way as well.

So I usually try to do a handwritten card,  so that then, I left him a voicemail plus handwritten card. Then I do the follow-up call that way. I'm constantly staying in front of them. What I did to become more efficient is. I hand wrote two versions of a card and had my digital guy put them in a vector form and fit it to a size where on an eight by 11 sheet, you can fit four cards.

So I put on nice paper stock, and then essentially yesterday I got a hundred. Version a hundred of each card,  printed for $30. So it saves a lot of times I'm not constantly handwriting unless it needs to be accustomed cart. however, I'm finding that when I do make my calls and then I want to send out the card by the time I'm done.

Doing the calls I'm so mentally tired and then just, drained with all the other stuff that we got going on, that when it comes time to actually have to prepare the envelope, have to put the address and all that stuff, I just don't really have the energy or desire to do it. Is that something that maybe my out desk could do as, or is that too little of a task?

I usually try to send out the ball every day.

Chad Corbett (Coach): [00:36:45] Wherever Brian Buffini might be in the world today. He has cold chills and he's not sure why.  if you haven't followed bluefin, you would, if you didn't get the joke, go look up Brian Buffini.  one of the best public speakers I've ever watched actually, but he's huge on the handwritten notes and the power of that.

so say so such a big thing and he built a career around it and a following. Yeah. So I commend you for what you're doing. It's a great idea. I want you to commit to stop doing it that way today. you've already done the work you've written the notes. you've got a system, somewhat systematized.

You're going to send an email to support@alltheleads.com. And you're going to say, guys, listen, I need to talk to someone about getting this into your system and uploading custom lists. Then when you're prospecting, you're going to use the shortcode function in the CRM. And when you, when one of those happen, you're going to put in the short code, send note card.

At the end of that prospecting session, or when you get all the way through that list, you're going to export that list, delete all of the ones that don't have that short code. And then you're going to upload that as a custom list. We're going to print the mom, got them, mail them, and you're never going to do this again.

Fed: [00:37:53] Oh, my God. It's life saver. All right, good. Thank you. I appreciate that a lot. A lot. A lot. Yeah. It may. It makes it much easier now. Cause I was just saying, all right, I have all these sheets of paper where I'm highlighting who it goes to, who it doesn't go to all that stuff, but then, but when it comes time to do it's just, it doesn't happen.

So then I'm like, why did I do all that for,  okay. You can do it in under a minute. The way I just told you. Yeah, I love it. I love it. I'm ops that starts two days. So thank you for that a hundred percent. the other question has to do with attorney, When, some of the leads that I'm calling the PR phone number under the PR happens to be the attorney's phone number.

And there's only that number at that point. Do you suggest still calling and perhaps going with the approach that you suggested to? I believe it was Scott where you're just asking the attorney for permission to give his or her client the right context to complete. the non legal aspects of the probate.

Cause I haven't been calling cause I just didn't know what approach that is. Usually it's usually a sign that person is a public administrator. So there either is no family to serve or the family as a strange than fighting. and the judge said, you guys take a sideline, we're going to appoint somebody else.

So that's usually the case. So the attorney, excuse me.  and in most cases, the attorney is the PR and that situation. And for them, it creates even more of a challenge because now they have all of the responsibility, not just 25% legal responsibility. So I will give you the same answer that I gave before you need to approach that person, small business owner to small business owner and yeah.

With empathy and understanding how much time it takes and how little money they make for doing that. Or even as they have to go build a team and, referral this out, like you already have the team built. They can literally just hand it to you. You're not asking for kickbacks. You're not trying to monetize every piece.

You just want to earn the real estate deal.  those are the, some of the most important attorney relationships because they are professionally, they're acting as professional fiduciaries in addition to their legal responsibility. And that comes up once a month, 10 times a month. you never know how many they're doing each month.

Oh yeah. Perfect. Awesome. Yeah. Okay. I just didn't know how to contact them, but now I'll put that into action today. Then it looks like I got some attorneys to call.

Awesome. Thank you, buddy. Two more in the queue. That should take us nicely up to the top of the hour.

Richard C: [00:40:18] Next up is phone number ending in five four, two eight. You're up next? Oh, this is Richard Curtis. I'm new.  I have one or two questions I sent Chad, I'd sent you a, I was on the call yesterday, but I sent a,  an email over to you, Chad, to see if I started your recorded mastery.

can I still participate in the one,  starting Monday. Yeah, absolutely. you'll be registered. you'll get an email confirmation whenever we get everybody registered manually. Okay. Second, thing. This has been a great call and I love all the, I can appreciate the idea that it's going to take me 10 years to get everything implemented.

Chad Corbett (Coach): [00:40:55] I'm going to go back and hit a stride of seven figures of income in one year, with what we're talking about. To really master it, you can take a decade. I don't want to intimidate people and make everyone think it's going to be 10 years to a paycheck. That's really not the case. No, I hadn't.

Richard C: [00:41:09] And I'm not saying that, but it's amazing. Some of the stuff you talk about, but I wanted to drill down a little bit more on that note card idea. I have listened to before me, but I've never been good at implementing. I salute that the previous caller I've never been good at implementing that.  but if I can, if there's a simple way to do that, can you walk us through again?

What we would have to do on the, my leads, a website to make that, or set that up for us this way right now is we include so several pieces of this longer call.

Chad Corbett (Coach): [00:41:41] if you look, there's a teal button that you can click, and that shows you all the available columns and my probate leads.

So you can customize your view. Yeah. If you click on that teal button and then click on short code or code, I think it might be shortened.  then that's going to put that in your list view. Then when you click into a lead detail view on the very first tab, there's an input for short code. So when you talk to somebody or don't talk to somebody and that, and they become somebody, you want to send a note card to just put in note card and the short code field, and then save.

And then when you go back out to the list view, you'll be able to click that short code column and it will sort either ascending or descending. And then you can export that list, the delete, all of the ones that don't have a short code, and then you can go to mailbox motivator. Order mailing campaign upload custom list.

And then you can, we can help you produce your postcard and then you upload that as your mailing piece. So you place a custom mail order versus an automated mail order, but it should take you less than a minute to do the export and place the order. Once you have that system in place.

And we have handwritten fonts of many different kinds and many different colors, we can make it look and feel any way you want.  just, I would say that for the very first one, let's get your mail piece designed and get it on file and then it will be a lot more automated and will take you very little time to do excellent.

No, that'll have the same kind of cost as sending out the letters. I'm assuming.  I'm not positive. It depends on what mail piece you're sending, but it should be less expensive because you're going to be sending a note card, which is, and it could even be a postcard, which is considerably less expensive.

But I would imagine you would probably send it in an invitation envelope, like the smaller note card envelopes. So the cost should be less than the 8x8 envelope. Okay. Thank you very much. All right. And I don't know. I don't know if Tim has a microphone, if you know that costs. I'm not sure if Tim can talk right now, If you send it out as a postcard, without putting in an envelope, it's obviously less expensive.  and we'll work with you to get anything done that you want to do. And I guess I'll also say this, that at any point, anything that you want to, we put out a lot of letters every month.

We put out letters all month long. not just the ones that we do, the normal standard probate letter, but people send out specific kinds of letters.

They want to go do we literally do thousands of mailings a month that aren't part of this, any kind of mailing that you're doing. even if you're doing mailing for the other parts of your business, we'll do anything that you need to go do. And you can upload custom lists.

And, we help you with skip trace and all the rest of the pieces that you need to work with. So just let us know what you want to do, and we'll be happy to work with you. And we've got people who are standing by all day long, working with our customers to get out what you,

Changing Locks On Behalf Of Clients: Proof Of Permission [00:44:22]Richard C: [00:44:22] Richard. Yeah, you're going to Richard. Go ahead. One other quick question from yesterday, in the call, the roll call, call yesterday, you had talked about, I think it was Chad that was talking about it, but he talked about a, an agreement,  that you would use between the PR that you could then turn around and use for your locksmith.

Do you have anything written up like that we could use as a format to I don't really have one. I used to have people just send me an email saying that I had their permission to access the property in case the police ever came. And Bruce and I have laughed about this before. I have literally been standing, drilling the lock out of a house when a police officer goes by and they didn't bother to stop, but I always thought, man, I want something on my phone in case instead of going to jail, I can say no.

Chad Corbett (Coach): [00:45:07] The seller told me I could do this, but I was shocked the first time it happened, it was like 10 degrees. And I'm out there freezing my butt off, drilling a lock, and he just drove by and waved that man. I'm like, what in the world? But what I suggested was I've been stopped. By the police. So this is very powerful.

Bruce Hill (Coach): [00:45:24] Chad, dodged a bullet. I didn't Dodge the bullet when I was drilling a lockout. So go ahead. Yeah, don't look online for Bruce Hill. We don't want you guys to see in the mugshots.

Anyway, I'm scheduled to talk to Bruce tomorrow. Maybe I'll have him email me something if he's got something. So whatever it is, it was his post-prison letter.

Um,

Chad Corbett (Coach): [00:45:46] but it doesn't have to be overly formal. It's really just for permission,  just for them to show their intent for you to actually do that.

And the other part of that suggestion yesterday was they said the contractor didn't want to do the work, because he wasn't sure he was going to get paid. So there would be two parts to that letter one is permission to access the property. Two is an intent. Pay for a certain lock set. I would actually use the skew number so that they you're specifically defining which lock set is to be used and what price will be paid upon completion of the work.

And also that a photo sent to a certain number or a certain email address will be what's required for payment. And if you, I would put check boxes in there for permission to put LA, I agree to put lockbox on agree to mail keys to this address.  you can make a customized form that fits your specific need, but the really the two points are to make the contractor comfortable that they're going to get paid and they know what the scope of work is.

And to protect your assets of, if you get caught drilling the lock yourself. Or if the contractor gets caught.

Jim Sullivan (Host/Coach): [00:46:52] All right. Thank you, Richard. Appreciate it. last up this week is phone number ending in seven, four to eight. You're up.

2021 Housing Market Projections. [00:46:59] Okay. You guys, I was just going to ask a more general question and, I'm not sure if you can beginning or not, but what your, thoughts are for the next three, six, 12 months,  market wise.

We better. Let somebody else answer that one. Okay. Let's just get this like that. Do you want a 24 hour answer or do you want a brief one? I'm just kidding. I'm just kidding. I agree. That's a better question. Oh gosh.  if I had a crystal ball, I would have sold all my property in 2007 and I didn't. I don't even know.

I don't want to even attempt to answer that. I do know that there's going to be opportunity to matter what happens. there always is. Does anybody else have a short answer to that or no?  I don't know. I don't know the short answer. But Bruce does offset. Yeah. The short answer. I'll go shorter than Chad would.

Bruce Hill (Coach): [00:47:42] when I see, the debate on what the market's going to do, all I see is everyone. Every everyone comment and says everywhere else, but it's not going to crash here. And that's all over the country from every city. It's not going to crash here. It's not going to crash here.  inevitably, we've got tons of shadow inventory and we don't know if there's going to be forgiveness and forbearances that are offered.

If there are not, the market certainly going to slow down. Are we, healthy enough to avoid foreclosures as a country? Probably. We're probably healthy enough to avoid a massive wave of foreclosures, but there are, Chad probably knows the numbers a little better than I do. There are huge numbers of people who are behind on their mortgages that are gonna need to sell before their equity goes away.

So there's going to be some pretty substantial opportunities to get deals on properties, even if it's not the foreclosure side. Yep. said in short, Chad, you want to take a short stab at it?

Chad Corbett (Coach): [00:48:39] We're in overtime. I will say, we talked about this a lot in shift happens back in March.

And I will say that I've been very surprised that the measures that have that we've been so willing to take so quickly from the federal reserve and treasury. So it did kick out my predictions 12 to 18 months. we were 6.6 million housing units short, according to the numbers coming into this, but we also had far more people coming into this that could qualify for a mortgage than we do.

Now. I think rental demand is going to go through the roof. I think rents are going to have to soften, even though the demand is going up. Cause the average American is currently paying 35% of their gross income on rent. And one in four are paying more than half of their gross income. So with the pressure, especially in class a multi-family, you're going to see massive competition.

If you're a landlord, you're going to have to step up, there, because you're going to, there's going to be some downward pressure on rents across the board.  From the political side and I don't really want to make this a political call, but we all know who John Janet Yellen is and who she was in the last crisis.

And my perception of why she's being appointed the treasury is because that is a workaround because the Democrats aren't controlling the Senate. And it seems to me, the chess board is being set up in such a way that we can almost do unlimited quantitative easing. And take federal measures from the treasury and from the fed, which could kick this can way further down the road.

So the correction that everybody's waiting for in March or April is very likely, not even might not even happen. If you look at the amount of debt the fed has put on their balance sheets since 2008, it's 30, I think $36.8 trillion has gone over there.  we have that, so we can't pay off and we're still doing it.

I wouldn't be surprised if you see the fed actually move defaulted, mortgage debt onto their balance sheet to avoid a worst housing crisis than we've already created. And if that's the case that will support prices, but at some point the hangover's going to be even worse. So it's hard to tell. I don't think we'll get we're in a deflationary we're in a stagflationary economy right now.

So I think not much is going to change in the short term and the longterm. You're going to see massive inflation and you want to own as many pieces of real estate as possible because the money we're printing we'll pay that off for you. And if not, you'll be left behind. So I think you've got some more time to make hay while the sun shines.

And I don't believe that these evaluations are real. I think our inventory levels are falsely low because of people's comfort level. And they don't want to move during a pandemic, but at some point, and it might be six months. It might be two years. At some point, you're going to see the inventory shift and flood the market.

So some of it's going to be distressed. Some of it are going to be equity sales. Some of it are just going to be people trying to get the hell out of cities and then the suburbs. We already see some of that, but it's a game of hurry up and wait right now. I think the policies that are, we're going to see in Q1 and Q2, are going to give us a lot more clarity on what we can expect.

But for right now, I would say, stay the course and make hay while the sun shines.

Jim Sullivan (Host/Coach): [00:51:38] Yup. Yup. Well said and brief. Thank you. We do have a few people in the queue, guys. I'm apologize. We can't get to everybody this week. If there's anything urgent you need us for just reach out directly right after the call. And I want to end this, like I always do.

I want to thank each of you for being here, particularly. Thank those who participated. I want to congratulate the ones that had. Some wins. We'll have to pick the best one and we'll let you know. And I want to challenge each of you. Take one thought, one thing, one idea that inspired you on this call. Go out and put it into practice.

And please come back next Thursday and share your results with the group. Stay healthy, stay productive. Have a great week. And we'll talk to you. Same time. Next Thursday. Take care.

 

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