“It's The Best Lead Source Out There!” Get Probate Leads: https://alltheleads.com/probate-leads
Like and Subscribe for Weekly Content
Check out PROBATE PLUS+ https://alltheleads.com/probateplus
Join our Facebook Mastermind Group "All The Leads Mastermind" https://facebook.com/groups/alltheleadsmastermind
Take the Probate Mastery certification course: https://alltheleads.com/education-training
Follow Probate Mastermind on Your Favorite Podcast Platform: https://realestate.buzzsprout.com/
These Cold Call Trainings are FREE and held live once a month through the All The Leads Mastermind group. Join free: https://facebook.com/groups/alltheleadsmastermind
Full Call Recap With Additional Training Resources: https://alltheleads.com/ccva/probate-leads-training-september-2020/probate-leads-mastermind-294
Call Summary:
BONUS CONTENT: Chad’s Tips From The Trainer: 3 Ways To Find Cash Buyers
“It's The Best Lead Source Out There!” Get Probate Leads: https://alltheleads.com/probate-leads
Like and Subscribe for Weekly Content
Check out PROBATE PLUS+ https://alltheleads.com/probateplus
Join our Facebook Mastermind Group "All The Leads Mastermind" https://facebook.com/groups/alltheleadsmastermind
Take the Probate Mastery certification course: https://alltheleads.com/education-training
Follow Probate Mastermind on Your Favorite Podcast Platform: https://realestate.buzzsprout.com/
These Cold Call Trainings are FREE and held live once a month through the All The Leads Mastermind group. Join free: https://facebook.com/groups/alltheleadsmastermind
Full Call Recap With Additional Training Resources: https://alltheleads.com/ccva/probate-leads-training-september-2020/probate-leads-mastermind-294
Call Summary:
BONUS CONTENT: Chad’s Tips From The Trainer: 3 Ways To Find Cash Buyers
Welcome amazing agents and investors from across the country today is Thursday, September 3 2020. And this is roleplay call number 294. We do have four people in the queues so let's jump right in with our first caller. First up is phone number ending in 546 for Europe first.
Unknown Speaker :Yes, this is Eddie here in Kansas City. I tried to get on the call yesterday to roleplay but I was wondering if you guys could help me with a little bit of head trash I have when calling
Unknown Speaker :the errors of like, if somebody's wife or husband died
Unknown Speaker :We can have some head trash around that and then I emailed Bruce. We didn't get chance to make it before this call so I figured now was a good enough time to
Unknown Speaker :you know talk about that. Yeah.
Unknown Speaker :And by the way before you answer Chad, I think he I think he should trademark that name head trash. I've never heard that before. He hasn't, but it's very descriptive. I like it.
Unknown Speaker :Gotcha.
Unknown Speaker :No, first, like, I'll compliment you on your self awareness. That's huge that you actually framed it that way. That's helpful.
Unknown Speaker :If this isn't the sidestep the the answer, but if you go to the all the leads calm and look in the top right, the search bar type in spouse, and there you'll see a tips from the trainer video I did several years ago. That kind of gives you the longer form of this but I would encourage you to think about and just like we recommend that I recommend that to somebody on the mastermind call yesterday. Think about all the problems
Unknown Speaker :These people could have that they're not yet yet aware of. And think about that from a spouse if you have a senior citizen like, according to the Federal Reserve survey in 2018, the average senior citizen in the United States has $24,000 in liquidity. So if they're on a fixed income times two, and they lose their spouse, now they're on a fixed they're on a single fixed income, the bills are the same, the responsibility likely doubled. So even if today and we know from the nursing home industry, 88.9% of senior citizens surveyed and extensive surveys have reported that they their only plan is to die in their home. What we know from the CDC is that 60% of Americans die in hospitals, 20% and nursing homes, and only 20% of those, those people actually get to live out their plan. The ones who didn't have a contingency plan, everything changes and sometimes they notice that the day it happens some
Unknown Speaker :It takes them two or three months to get through the grieving process and realize this isn't sustainable and I can't live this way I have to sell things and change my living situation. So all that said, the approach is a little different, it needs to be softer, you shouldn't shy away from it, you should understand that you can be the difference between that person dumping equity out of desperation, or having a controlled exit from the assets that hold the most value in their state. And if you're embarrassed to reach out
Unknown Speaker :if you don't believe in your soul, that they're better off here and not even at the risk of of a misperception on the front end. That like that's where you need to get to, like you need to believe in your heart that this person is better off having access to me and advice for me than they are not. And I would hold yourself account
Unknown Speaker :don't call this person what am i cheating them out of
Unknown Speaker :Because if you believe in what you're doing, you have to believe that you're limiting your limiting value by by not reaching out or not putting yourself out there. And you're gonna take some licks eventually you will, you will someone will miss perceive what you're doing. But very often, and the gratitude that you receive by taking that chance and taking that risk the gratitude far outweighs the people who are critical of you.
Unknown Speaker :Okay, you know, I definitely know there's value because my my uncle just died. And my aunt, she was on a fixed income and he was on like, they were on fixed income and he couldn't stay in our house because of it. So I know that there's value I just
Unknown Speaker :that was one that fell in my lap. That's that's your that's your that's your USP with a surviving spouse.
Unknown Speaker :Like that. That story like that shows your empathy it shows your why. So figure out a way how to use that to help people understand you're not a predator.
Unknown Speaker :You're here to serve and help not take advantage.
Unknown Speaker :And, you know, the other thing I was gonna, the other thing I was going to add van is, you know, it, obviously, I mean, on average is three to four months between, you know, between the time someone dies and probate gets filed, and that's certainly not enough time to get over like, you know, losing a lifetime companion, but it does indicate that there at least, you know, passes enough that they've made the business decision, you know, somebody in the family has made the decision to go ahead and file the probate. So it you know, your call isn't going to come as a surprise to them in it, you know, it doesn't mean that they're not still grieving. So just be be super empathetic, you know, and we've often said, You don't necessarily have to say I'm sorry for your loss, but start off by saying, you know, acknowledging, you know, show empathy that I'm sure this is difficult time for the family and that's why I'm reaching out, you know, you know, what's the most difficult part and how can I help you
Unknown Speaker :Just come from come from empathy and realize that you're helping them like Chad said, and realize that there could be no it's not gonna. But I'm sorry, Gemma, what's your breaking? Finish? No, I know I'm done. Go ahead.
Unknown Speaker :So the other thing I want you to think about is who on your team can help anyone in that situation, even if they're not selling real estate, your landscaper, your gutter cleaners, your pressure washers, your social workers, your nursing home employee, like the person who who handled admissions at the nursing home a senior moving company self storage with climate control. Like think of all those challenges they have and who and even if they're not selling real estate right now, they're very, very likely to do so in the next year or so. So what value can you provide today, so you don't you're not perceived as trying to take advantage of them. But instead, you're perceived as someone who brought value when there was nothing for you to gain in a moment. And the amount of trust and credibility that comes with that is huge. And I guess
Unknown Speaker :The reason I'm so passionate about this answer and the way I'm giving it, I had the same head trash that you had until I had these widows who finally had a breakthrough four or 567 months down the line one was five months. But they finally had that breakthrough. And then within weeks, all our problems were solved and they and like the, the gratitude They showed me is what fuels me to always pick up that phone. Because it's just a matter of of pickups until you you drastically change somebody's situation for the better. And once you get there, you'll you'll have unstoppable energy to do this because you'll believe it and the head trash goes away.
Unknown Speaker :Does that help? Okay, well, yes, absolutely. I appreciate that. And I'll report back because I've got a handful in my
Unknown Speaker :inbox, like in my leads that I know are
Unknown Speaker :our spouses and I haven't called because I had dressed but they're on my follow ups to call. So I'll report back on how it goes.
Unknown Speaker :Before you go right after the season, did you see the case study up, they go down and I did last week.
Unknown Speaker :I haven't had a chance to look at it yet.
Unknown Speaker :I would recommend you watch that, too. So one of the one of the pivots that David has made, he actually categorizes his lists socially. So a lot of people sort their list by encounter out of town. But he's looking at it from a social aspect. So the easiest one out of town heirs who weren't immediate family, then you've got the immediate family. Then you have surviving spouses. So he looks he breaks them into three branches. And he calls from his perception of easiest to hardest, the easiest or the out of town, non immediate family because those people have very little emotional connection and just want to get it done. Then he calls the immediate family and which is the majority
Unknown Speaker :lm and then once you've gotten you know he's gotten the courage then he calls the surviving spouses so he kind of prioritizes his list based on his experience we all have we all have limiting beliefs to get like the good news is the way I started this is you have a self awareness that will help you overcome this and get through it but even David even running at the speed he's running he has apprehension too and and like I said, eventually you'll you'll piss somebody off but it's there's ways to handle that as well but it won't be very many the good you will do far outweigh you know any any negative consequences.
Unknown Speaker :Okay, thanks. All right. Appreciate. Appreciate that.
Unknown Speaker :And please do come on our next next mastermind call let's roleplay that one we haven't done in a while. I mean on the next roleplay call.
Unknown Speaker :All right, next up is phone number ending in six three to zero. You're up next.
Unknown Speaker :Hey guys, how's it going? Great. How about you? I'm good man. You got two quick questions for y'all. I got a family who is three sisters. One of the sisters is the executive tricks. They are inheriting the house from a mother who passed away. The brother is living in the house. All three sisters who basically have all the executive power, want to sell the house and relocate the brother and move even considering eviction, if also, if necessary, but I guess I was wanting to ask you all what is your experience with having to help families relocate a family member in order to sell real estate? What are the problems I've run into and what's the best solution to kind of avoid eviction, obviously, especially in these times, to finding a peaceful solution for for those family members. So that's the other people could sell the homes
Unknown Speaker :Great question. It's common, like if you haven't come across one of these yet, for everybody listening, it's a matter of time.
Unknown Speaker :There's always the one who didn't fly the nest, right. So the best way I've found to approach this is is proactively find them a better living situation. So a lot of people in that situation, they don't have an income and my experience, most of them are on Social Security benefits. Because they found a way to, you know, they, they just never really wanted to contribute, they just wanted to be taken care of. So I never ever, you know, and condone kicking people out on their ass just because they're lazy. It's we have a sense of duty to people like that. But the best way I found to deal with it is through property managers, or if they're low income or fixed income through social workers, and especially if there's a mental illness that's even easier, like if they have a documented mental illness. Then there are there's a separate tranche of money that comes in
Unknown Speaker :from HUD down to mental health
Unknown Speaker :companies, like here in Roanoke, there's one called Blue Ridge behavioral health care and they get a separate HUD allocation. It's separate from the section eight money, but it's essentially section eight housing for mentally mentally challenged people. So oftentimes they do qualify for that. And it's much easier to place them and suitable housing through that versus going through the HUD channels. But so you can reach out to you know, ask the family permission. So, you know, would it be okay if I if I, you know, start talking to some folks to find a better living situation. And can you tell me a little bit about your brother's situation, and the more you can learn about him, the more empathetic you can be to his position and the better, you can select suitable living for him. And then rather than delivering, you know, you can deliver it with Hey, Jerry, you know, we've your sisters have agreed to give you 1000 bucks to, you know, for moving money and we've already set up
Unknown Speaker :Have a facility for you over here. Here it is, here's a brochure. And you can deliver it as a as a tailored solution that you made just for him. And it lands a lot lot easier, a lot softer when you present it that way.
Unknown Speaker :Some people try the approach of or you get like you can get out on your own or you can get out with the sheriff and then it becomes adversarial. No locked down. And then in your this is shy, right?
Unknown Speaker :Yeah, this Yep. Yeah. So like you got judicial backlog. And it could take months and months just to get through to the, through the eviction process. So nobody wins in that scenario.
Unknown Speaker :It can be as simple as cash for keys. You know, you can say man here, the families agreed to give you an extra 5000 bucks. Or you can say, you know, the families agreed to pay for your moving costs and your first three months rent over at this facility then by that time they're subsidized, right?
Unknown Speaker :We'll pick up or whatever that is, but certainly try the service approach. Use the carrot before you use the stick.
Unknown Speaker :Okay, got it. But
Unknown Speaker :ultimately just wanted some advice. Mexico's sisters want him out but don't want to deal with it. And they they immediately went to the eviction. And I was like, what people can figure out something that's a little bit more peaceful, they all lose. And the question I would ask them shy is, you know,
Unknown Speaker :if you guys didn't have to go through putting your brother through that, would it be worth a couple thousand bucks each off of your distribution? Like, I'm not asking you to pay with money you already have. I'm asking you to do what do you know to contribute to your brother's transition from the inheritance money? So is that something I can count on? It obviously won't lead with that, but it's such what's necessary to get him into suitable living. Can you guys live with that versus what
Unknown Speaker :Get potentially be a very long drawn out thought process.
Unknown Speaker :And you can also show them how that that money is going to get spent one way or the other, they can spend it in holding costs, or they can give it to him. Either way, it's getting consumed. So it's you know, and there's ego, it sounds like ego might be part of this. And a really good way to put it into that shit is say, do you want to be right or do you want to be done with this?
Unknown Speaker :Yeah, they I got them to agree on taking, you know, fronting him costs from the estate to pay back later. They want to avoid that but they did agree that that's something that they can do, but it's the finding a suitable housing area.
Unknown Speaker :We have a few ideas but yeah, that's that's just I just wanted to pick your brain on that one. That's just
Unknown Speaker :the one other option. There was something just
Unknown Speaker :one more thing and I'm just kind of,
Unknown Speaker :oh, the one other option is
Unknown Speaker :If you got if you find your backs against the wall and none of none of what we've talked about is working. This is I would say this is a contingency, but you can actually reach out to one of the partners. One of the people we've recently done, Ask the Expert series with a company called probate cash. And they will actually advanced 25% of the inheritance for purposes like this. So if you haven't watched that video, you can you can search probate cash with no space, all one word, and it'll bring up that tips from the trainer and there's a download below the video you can download kind of a summary sheet of what they offer, but that could be a contingency plan as if nothing else works. Before you go the traditional route. Give him an opportunity to take in advance and take care of himself before you have to get the stick out.
Unknown Speaker :Okay, cool. Thanks, guys. Next up is phone number ending on
Unknown Speaker :3040 you're up next. Okay, hi. Okay. I really do enjoy your your webinars, picking up a lot of tips, first of all. Now, what I had done recently is that I actually went to the probate website, because I wanted to find out if the meter that I have is an actually good receiver tested mentary because what I get is No, we haven't heard anything yet. And what I found out is that they really did receive this test cementery Okay, so they're just telling you that as an excuse. The other thing I noticed was when I went ahead and looked in to their case, is sometimes I will see that it says the it says drop order.
Unknown Speaker :I don't know what that means. So somebody could could explain that to me.
Unknown Speaker :That'd be great.
Unknown Speaker :It probably means I found probably
Unknown Speaker :Because they thought they had to and they later learned that they were exempt, most likely because of the smallest state exemption. So they they probably initiated the probate process without an inventory of assets. And then when they get the inventory of assets it was worth less than X amount was whatever that limit is and your state. They may have been found to be exempt from probate so they actually dropped the probate case.
Unknown Speaker :Again.
Unknown Speaker :Go ahead. What state are you in?
Unknown Speaker :I'm in Texas.
Unknown Speaker :Yeah, so in Texas, it could be that the real estate was the only asset of value of significant value. And they actually petitioned the court for monument of title which actually takes the real estate out of the the probate and if there's no other assets to be probated, then they probably close the case because it was it was get qualified for monumental title that would be my guess at what you're saying.
Unknown Speaker :And for anyone else listening, understand this is only for Texas. Like if you're like well out of Arkansas, it's because it doesn't apply anywhere, but we're but in Texas.
Unknown Speaker :But what I'm finding that means there is property, and it is still in the US. This he did me the seated name and I'm working. I'm working with old probate, like, you know, like the last year or the beginning of this year.
Unknown Speaker :As a result of it,
Unknown Speaker :go ahead.
Unknown Speaker :The fact that title hasn't transferred is pretty good evidence that it is a result of monument of title. So they may have chosen, you know, hey, it's very common in my market where attorneys don't really help folks with probate here. It's very uncommon. A lot of folks don't know that they need to file probate so they go to refinance the home or sell it 10 years down the road, and then they find out they have to retroactively probate
Unknown Speaker :The estate. So they keep paying the taxes and mom or dad's name and just, they just don't know they don't. They don't know what the correct process is. So they just keep going. And eventually it catches up with them and they have to retroactively probate the estate. So that might be what's happening with you. Or in your area is there qualifying for monument of title? It actually does not require probate beyond that, and then they just don't finish. They don't take it through and transfer title and do everything else because,
Unknown Speaker :you know, nobody's telling them they have to.
Unknown Speaker :Okay, so my question is,
Unknown Speaker :should I keep following up with them charging them? No, I send my letters out first in going back from last year, you know, I've send him quite a few already for getting a hold of them is the hardest thing he tried to get on the phone. So would you would you continue to pursue any people
Unknown Speaker :I would definitely continue to market to them, you might change how you're marketing to
Unknown Speaker :them. So if they're closed up because they've you know, they have been getting the probate message you might consider
Unknown Speaker :a different approach more likely to something. If you look in letter and brochure samples, you'll see a letter called a house value letter. And that letter I wrote, and it's actually titled to the decedent
Unknown Speaker :and sent to the deceased last known address, Now assuming are pretty, but knowing that there's pretty much a guarantee there's a mail forwarder or somebody collecting mail, and looking at basically it basically plays on the strength of the market. And you could even strengthen that depending on what your belief and the where we're headed. I think a market market value correction is very likely in 2021. So you could you could play on the strength of the market right now this rally and the demand and the limited supply and show them how economically they should be motivated to go ahead.
Unknown Speaker :do what's right now versus versus waiting. And so you might just consider, like, you know, more indirect approach playing on the strength of the market versus their pain point and probate because they're no longer in probate. They already solved that problem.
Unknown Speaker :Okay, sounds good. All right. Thank you so much.
Unknown Speaker :All right. Good job. Thank you for contributing. We have two more in the queue. We do have room for more guys. Just hit star six and hit pound. Next up is phone number ending in 8982. You're up next.
Unknown Speaker :Hi, this is Roy swan. And what I'm experiencing is there's a map of bet most of the ones that I see that I'm working on are stored
Unknown Speaker :on a no call list. What do you recommend?
Unknown Speaker :You have to choose your own risk like you
Unknown Speaker :Only, you know your risk tolerance, but most seasoned prospectors will will make those phone calls. The reason we do DNC validation is we do have a an organized Call Center, which which puts a big target on our back. So with no extra expense, we do that just to make sure you know, we know we pass that through to you. So if you're comfortable calling them most people are, you probably don't have you know, it's we're so far and literally millions of phone calls, we've never had a customer be reprimanded officially. The only one I'm aware of
Unknown Speaker :is a an informal phone call from a Southern District of New York Attorney that said, you know, we've we've gotten a report that you call the DNC number, please be careful and don't do that they didn't even bother with a written complaint. So it's unlikely that you'll create any real liability for yourself but that's for you to decide. Not us.
Unknown Speaker :Okay,
Unknown Speaker :In the last call, as you said,
Unknown Speaker :you identified a letter
Unknown Speaker :to
Unknown Speaker :and I forgot what the name of I didn't get to write it down.
Unknown Speaker :So the the indirect approach is actually it's called the house value letter. And it's in, in subscriber portal mailbox motivator letter and brochure samples was where you'll find that.
Unknown Speaker :Okay, I've got right now. Thank you.
Unknown Speaker :All right, we have two more in the queue, hit star six, and then hit one to get in. Next up is phone number ending in 4663. You're up next.
Unknown Speaker :Thank you, Chad. I was interested in that. The cash for keys example you talked about a couple minutes ago. And that sounds kind of logical as a way to avoid eviction before you mentioned probate cash calm
Unknown Speaker :which sounds like a good alternative. Kind of
Unknown Speaker :may be a way to do it more efficiently.
Unknown Speaker :Going back to a more unofficial approach, wouldn't attorney even go for that or allow that to be transacted? Let's say you had to write a check for five grand or something to kind of facilitate that. Nine eviction or informal eviction, if you will. How do you how do you even bring that up? If
Unknown Speaker :if they wanted to go the legal route? Well, if you did want to come?
Unknown Speaker :Yeah, I'm thinking, I'm thinking that an eviction is the legal route, and that would probably have the attorney involved. But it sounds like cash for keys is an informal route. And how do you propose that to the attorney and get approved since it's a kind of
Unknown Speaker :an advanced before the
Unknown Speaker :Yeah, I'm not sure what the official document would be titled, but it needs to be a written agreement between each of the errors and that needs to be submitted to the court for
Unknown Speaker :For the accounting, so, you know, let's just assume that they say, All right, we'll give we'll give him $2,000 each. So that's $6,000. And if you're not advancing him the money right now, if you're putting it out there, as you know, these family members, these three are going to get 40,000 and this one gets 46,000.
Unknown Speaker :That would be, you know, the the carrot. So if you get if you move out now where we can move forward with the estate, you'll have more money later. Now, if they were going to come out of pocket and give them that, then then it probably would need to be an agreement where they're paid on instead of the distribution instead of getting paid in the distribution on the bottom line. It would be paid with the administration costs so if it was absolutely necessary for the for the estate to move forward, then there's a chance I think an attorney could get them paid on the top line as an administrator.
Unknown Speaker :cost. So they would actually be reimbursed on the top line. And then as heirs, they would get their distribution on the bottom line of the final distribution.
Unknown Speaker :But they reimburse through the estate.
Unknown Speaker :Okay, you you, you kind of answered it earlier by saying it would have to be court approved regardless of the approach. So
Unknown Speaker :if they weren't playing back, yes. Okay. Okay. Okay. Thank you.
Unknown Speaker :All right, we have two more in the queue. Next up is phone number ending in 6211. You're up next.
Unknown Speaker :Are you there? It looks like hilty 6211.
Unknown Speaker :Hello, hello.
Unknown Speaker :I heard something. Yeah, I'm possibly you have this muted. He'll be unmuted.
Unknown Speaker :We only have one other person in the
Unknown Speaker :queues so we'll give you a second 6211 Going,
Unknown Speaker :going
Unknown Speaker :I would suggest that you drop out of the queue and sign back in and it will take you next. In the meantime, next up is stage fright. If it's stage fright, I was really just kidding. You don't have to send sing happy birthday to Tim.
Unknown Speaker :That was probably it. I can't speak with the guard. So next up is phone number ending in 0948. You're up next.
Unknown Speaker :Hey guys, how you doing?
Unknown Speaker :Great. How about you? Good. So I don't know if this would qualify as a probate question, but we've out here in Bergen County, New Jersey, just getting started. And we're literally just finished our website and getting ready to do our first mailers. My question is with regards to actually your offers that you make these. If you do get to sit down with these representatives. I've only come from the investor side where I only know the
Unknown Speaker :Buy as is where you know, you've minus the rehab and all that reasonably learning about the wholesale strategy. I don't know if you guys kind of do a calculus, they have a calculation for that. The same way you would do for buy, as is repairs minus rehab, you guys have kind of numbers that you run with regards to how you come up with that offer.
Unknown Speaker :So it's kind of like for me it's my definition of like an as is price for me is what is the price that will guarantee that this is a ratified contract within seven days and a closing within 30 days. Like that's, that's the count the wholesale price like that's what you know, landlords in the market are the most common buyers of those, they jump all over it, and it usually ends up being about 80 cents on the dollar.
Unknown Speaker :Depending on how often the real market is where you are, but you're likely buyer as a landlord.
Unknown Speaker :So you can look at the house and look at the market rent and back that out using it. I mean, you can use a gross rent multiplier or cap rate or whatever guys are using in your market and kind of figure it out. But I would encourage you, rather than pricing on a comparison basis, I would price on an on an investment return basis. And mostly likely that listing is most likely to appeal to a long term buy and hold
Unknown Speaker :investor.
Unknown Speaker :Okay, awesome, awesome. I can work start working backwards like that just because like I said, I've never even considered those types of offers before. I've always come with a deal 70% that's the rehab. And actually my partner is just in the process of getting as agents because of your guys's, you know, recommendations. So we have that, yeah, the retail point covered.
Unknown Speaker :So, you know, we're already in a list of a list of cash buyers or investment buyers. Do you have those in your pocket yet?
Unknown Speaker :I do have legit
Unknown Speaker :Buyers but not landlords specifically, I have a, you know, investors that I know are buyers. But I don't have specifically landlords, I get I got to start working with that. One of the things that you might consider doing to identify that and Chad might have a different source but but I like the website list source calm and okay searching by absentee owned properties and just finding the largest who the the handful of investors that own large portfolios in your county, or your county and and then and then reverse searching them and and reaching out and just asking if they're looking to expand their portfolio. And those are the people that you take your whole wholesale deals to first. Wow, awesome. Never thought of that. That's quicker. A quicker route for me is to go directly to the top property managers in your market. So if you have a good
Unknown Speaker :property manager who and we can understand I'm saying good as a qualifier because most of them aren't. But if you have a property management company that has an investor base, they will they can introduce you to the heaviest hitters in town that already have a portfolio with equity, and they have a finance strategy in place. So you don't have to kiss that many frogs if you go right to the property managers.
Unknown Speaker :Mr. K, awesome. Again, thank you guys. Those are gems right there. I was actually hoping to schedule this question with boots. But you guys answered all my questions already. So appreciate it.
Unknown Speaker :Yeah, just save myself. 15 minutes.
Unknown Speaker :Have a good one guys enjoy the weekend.
Unknown Speaker :Now you can watch extra cat videos today.
Unknown Speaker :I want to I want to reach out the gentleman that was on the roleplay call yesterday that had the awesome win. If you're here, please jump in and share that with everybody. In the meantime, we have
Unknown Speaker :Three more in the queue. Next up is phone number ending in 0883. You're up next. I
Unknown Speaker :didn't recognize the number this time. That's solid. I did. I did. I did too.
Unknown Speaker :How are you guys doing? Doing great, James, how about you? Doing good. We came across a new lead. We hadn't been working before we're here. In the Memphis area, it's about a million dollar nursing home
Unknown Speaker :in a very prominent part of town. What would you suggest the the way that we approach the PR.
Unknown Speaker :In this one? Of course, we're not commercial people. Our sales particularly have of course, within a XP we've got commercial agents that we work closely with, but what would be my approach to giving them a call?
Unknown Speaker :Yeah, my first one
Unknown Speaker :I want to make sure what have you done to validate that? That is actually property of this state? Because the reason I ask is when we do get a false positive using probate plus it's it's oftentimes it comes back to a nursing home. So have you validated the ownership?
Unknown Speaker :I have gone into what we call more data. And if I remember correctly, I'm not looking at it currently.
Unknown Speaker :It seemed to validate that it was the appropriate person, but I'll go back and do that for sure. Okay.
Unknown Speaker :So this is the kind of thing you want to sell off market and, and you may get a commercial broker. Personally, I'd like to have a look at it if if if you get traction, I would like to look at it myself. That's one of the asset classes I'm looking for.
Unknown Speaker :Okay, and I know plenty of other people who who would be buyers for that. So it's you
Unknown Speaker :don't need to worry about having a, you know, a big commercial presence and a marketing package and all that you won't need it if it's a fairly priced asset in that class. Now, that is a challenging asset class right now. But the smaller that's a pretty small nursing home. And that's that, I think is a bigger opportunity than the large aggregated multifamily. I think people are looking for those so
Unknown Speaker :I can help you offline. I can connect you to a guy or some developers, I actually know developers who are building 20 $20 million facilities within two hours of you. So they may even be interested in adding it to their portfolio. Okay, all right. Well, shoot me your calendar color. And thank you again. I look forward to the day and can find it.
Unknown Speaker :Okay.
Unknown Speaker :All right. Appreciate it. Guys. Have a good weekend. All right, keep at a gym. Take care, buddy. Two more and two more in the queue. We can probably fit a couple more in just
Unknown Speaker :star six and hit one. Next up is phone number ending in 1649. You're up next.
Unknown Speaker :Hey guys, I got a question about a short sale listing that we have right now. We picked it up through the probate list. And Jim, we're actually using your wife on this one
Unknown Speaker :and make a decision. Thank you.
Unknown Speaker :Appreciate it good. It's been going pretty good. We now have an approved prize from the bank, we've got an offer that is of the approved price. They just sent the proof of funds over. But the problem that I'm running into is that it had started the foreclosure process before we got to it. And so it's looking like we're going to be able to get the short sale done, but the executor, him and his sister have been receiving what sounds like foreclosure notices. And they're basically taking it
Unknown Speaker :As if they're getting sued. And so they've been calling me out thinking that we don't we don't want to get sued. I just want this to be over with. And yeah, I don't really know the best thing to say to calm him down. I'm not familiar enough with the wording. So I don't want to say anything wrong. But I want to try to calm down so that he's not freaking out. Well, first of all, call Pam, and she'll be glad to call them and talk to them. But it's a common misconception with foreclosure with the short sales The Heirs think as soon as they start working with the bank on a short sale that all the legal problems are going to go or all the legal process is going to go away. And it doesn't the bank continues the process right up until the time of sale, mainly because they don't have to start all over again, if the buyer backs out or the sale doesn't go through. So it's it's almost always automatic, pretty meaningless conversation or correspondence. You know, you don't have a sale
Unknown Speaker :date set correct?
Unknown Speaker :Yeah, that's there's no there. There's no foreclosure sale date set? No, there's not. Okay. And I would even venture to say after you successfully close on the short sale, they'll probably still get correspondence.
Unknown Speaker :It's It's such a machine and it's such an automated process with most of the banks that they don't alter their process right up until the day and often they don't even stop it when the when the properties we've had enough she's had number of cases where successfully close the forge the short sale and the people are still getting foreclosure notices. So best thing I would tell you Pam has done over 2000 of these What have you let her know and ask her to call the seller or not. Yeah, I did the first time that he called and I believe she reached out and kind of told him everything was okay. But he called last thing. sister had received a notice. And so I guess you're calling him crying and thinking
Unknown Speaker :I don't want to get sued I don't have the money to pay off the loan. He's thinking to lose his business and I've been trying to tell him that it's part of the process and he just he doesn't understand enough I don't think to know that like, it will happen up until up until it closes.
Unknown Speaker :I just haven't been confident enough in the process since this is our first short sale. To say anything too definitive. Because I don't want to be outside and yeah, I would just I would just say the negotiator that's handling it has done a couple thousand of these when we ever give you a call. Pamela Pamela talk him off the ledge and reassure him she's she hears us in virtually every every transaction or most of them. So the good news is you're making progress and you do have a sale date scheduled yet for closing the transaction or not. No, we don't have a closing date set yet. But the bank has reviewed and offer they've got the appraisal back and it actually the appraisal came in lower
Unknown Speaker :The offer and so they just adjusted their offer and got everything in within the last couple of days. So perfect and we're getting the offer accepted and everything. It's exactly what the bank said they would approve. So we
Unknown Speaker :moved sailing, just want to make sure that he, you know, is not freaking out and he was mentioning calling the bank and telling them they can have the house. Oh god, no, no, no, no. You know, again, if the house gets foreclosed people, people often issue a deed in lieu of foreclosure. And they don't realize that doesn't limit their liability. It just means to the bank here, you can have the house back. That's much worse than doing a short sale 99% of the time on a short sale. The bank will agree not to pursue a deficiency, you know, so it that'd be the worst thing they could do. I'll have this exact right. Yeah, this is an I actually have her number so I can reach out and call
Unknown Speaker :Again, I just didn't want blowing her up too much about now. Can you call him because I know some of it's our job to deal with them and make sure everything's done. Okay, this is just an area. That is not my expertise. You did your job you found a good buyer. You put the deal together. I'm looking at her. She's not she's not terribly busy right now she's in the same office. So give her a call. She'll she'll talk, call them back and walk them down off the cliff. No problem. Okay.
Unknown Speaker :Are these errors are these? Are they personally are on? Are they on the loan? It doesn't say it doesn't really want to.
Unknown Speaker :Okay, this is actually even world. Oh, sorry. Go ahead. That's even more reason that there is virtually I mean, they're they're not gonna get in trouble. They're not even on the loan. So you just,
Unknown Speaker :you know, they talk to Pam, if they're still calling you to say Look, you're not even on the loan. You can't get in trouble. Right. Am I wrong?
Unknown Speaker :You know, hundred percent. No, you're right. Yeah. You have zero liability.
Unknown Speaker :Yeah.
Unknown Speaker :Okay.
Unknown Speaker :I just I handed your note to Pam. As soon as this calls over, she'll reach out to you.
Unknown Speaker :Okay, perfect. Thank you guys so much.
Unknown Speaker :You're very welcome. We only have one more in the queue guys. This will be the first time this year that we haven't gone over if you would like to actually participate, just hit star six, and hit one. We've got well over 100 people on the call. We're waiting for our winner of the week. We had a great one. testimonial yesterday on the roleplay call multiple deals if you're on here. There's a 470 area code. Don't be shy. please jump in. There we go. We got three more. That'll take us up to the top of the hour. Next up is phone number ending in 3899. You're up next.
Unknown Speaker :Yeah, hi, my name is Matt. I'm calling from New Hampshire. I didn't
Unknown Speaker :Sign up with you. Hey, I just recently signed up for your services and
Unknown Speaker :have one mailer go out and you guys made around a calls and I was just curious. I hadn't I didn't see any response.
Unknown Speaker :I guess there was no response in regards to the calls or the mailers is that is that normal I, I guess that I got I got on the call late so I don't know what's covered or not.
Unknown Speaker :It happens sometimes. I mean, it typically you're gonna see a, you know, a 2% response rate over the length of the campaign like over a three to six month period,
Unknown Speaker :which is enough to know for most people to average a 2,000% ROI. So don't get discouraged if one letter didn't work. Direct Mail sometimes takes time, right. And it's what's most important about it is your frequency.
Unknown Speaker :So just as Keep your head up, and just you know, I've had I went to
Unknown Speaker :Like 10 weeks one time, like two and a half months with zero response on and I was mailing three different lists. And I'm like, holy crap, this finally quit working. What am I going to do now? Like, this is my this is my whole, you know, my biggest pillar I was on both sides of the business. And then all of a sudden, one Thursday evening, I ended up listening seven properties on a Friday, which I mean, it was daylight to dark, I mean, it was the most jam packed day I've ever had. And it just caught me back up so I was thinking shit it finally quit working and I'm gonna have to do something else. And then just all of a sudden that kind of corrected itself. So if you look at it over a long enough time period, you know you you're gonna everyone is going to have times where your marketing doesn't work and one of the big reasons you know, we I've actually noticed this on the digital marketing side of things, like a lot of people were checked out for the last two weeks and I pretty much have come to the conclusion that's because school is starting and schools
Unknown Speaker :looks different than it ever has. So people are very distracted right now. And a lot of our parents or grandparents and if their grandparents, Mom and Dad are still working, so they're probably taking care of you and your while he's being homeschooled right or doing online school. So it could be situational as well, because people for the last two weeks have seemed to be really disengaged from any online activity. And I'm sure that's also apparent and you know, and other day to day activity, so it might just be situational it may correct itself by the time your next letter hits.
Unknown Speaker :Great. That's good, good. Good information. One on the customer when you guys make when you guys make the calls, are you is the person making the calls or is it is it Are they like automated
Unknown Speaker :that we use, we use live domestic callers. So they're in the office, you know,
Unknown Speaker :I thought it was a robot call and at
Unknown Speaker :It started by saying that a social security number was flagged for fraud, Chad, Is that wrong? We quit using those yesterday, Bruce, okay.
Unknown Speaker :Or the IRS is on the way to your house, you better you better wire money immediately. We've seen. I've seen a lot of those too. You know, live calls are always best if you can do it.
Unknown Speaker :All right, well, we have two more in the queue. Next up is phone number ending in 6211. You're up next.
Unknown Speaker :Thank you.
Unknown Speaker :Hi, my name is Leo. I'm new in this trying to learn about the system. I'm in Florida, but I actually got approached by somebody in Texas. That uh, it looks like the dad passed away. And on the wheel is he inherited the house, to the ex girlfriend.
Unknown Speaker :But then the mom is
Unknown Speaker :The one that has the wheel in her hands and and there are two sons, it says on the world stage that the house to be liquidated upon death. And it also says that, uh, after the expenses they're supposed to give like $10,000 to the to the sons
Unknown Speaker :and to get out of here so husband passed away while married to wife, but will the house to an ex girlfriend was that before the marriage or during the marriage? Know what? There's actually the ex girlfriend and the ex wife. So the ex wife
Unknown Speaker :have the will, but he inherited the house to the ex government.
Unknown Speaker :Okay, who's the person who's the administrator
Unknown Speaker :or the executor trick? The wife, the ex wife.
Unknown Speaker :Okay, there's no wife. Well, this makes sense.
Unknown Speaker :She's an ex wife. That's what I missed. In the beginning I thought you said wife. So since she's an ex wife, she's not protected by state succession law, because the marriage was terminated prior to the death. So if she's the executor, she can she can step up step out of her role and allow a public administrator to step in or another family member. Otherwise she needs to carry out the last wish if the will is validated by the court and she has a fiduciary responsibility to carry out the wishes of the deceased. If she takes the role of executive
Unknown Speaker :Okay, so she may not like it, but it her control died with her or her with her divorce decree. She lost leverage.
Unknown Speaker :Okay, how can I refer them to a good probate attorney in Texas?
Unknown Speaker :What what city
Unknown Speaker :I think Amarillo
Unknown Speaker :Oh gosh, that's up there. I don't really know anyone.
Unknown Speaker :Also, I mean, I'm a real estate agent but I'm also I'm also an investor. So you know, I mean of course I will I will like to buy the property
Unknown Speaker :is the property in Florida not the properties in Texas.
Unknown Speaker :But you're in Florida. Miami, Florida, right basically in Texas so I mean, I do have a little bit of connections in Texas.
Unknown Speaker :Gotcha.
Unknown Speaker :I don't know any attorneys in that market and I don't I'm not aware I'm not aware of any subscribers we have in Amarillo. Your best bet is asking our Facebook group so we have a Facebook community called all the leads mastermind if you're not already a member jump in there. We have over 10,000
Unknown Speaker :probate experts in the group so there's there's likely somebody that's nearby.
Unknown Speaker :The other thing is you could you know, you can just start
Unknown Speaker :Call it call around, you know, call the probate clerk in that county and say hey, you know who's an attorney that you really enjoy working with? I've got I've got one little hair on I will see if they can give you a referral to a good attorney, but that might be a decent shortcut.
Unknown Speaker :Also, I mean, that ex girlfriend inherited the house, but she it looks like she's not aware of it right now. So I mean, she's gonna find out eventually right.
Unknown Speaker :Yeah, I mean, if if the will is validated and she's she's the heir to the to the house or the house has to be sold. The will said that the house had to be liquidated. Right?
Unknown Speaker :Right. But the thing is, the wife is the one that the ex wife is the one that has the will.
Unknown Speaker :Yeah, well, it shouldn't matter. I mean, she has a duty to carry it out or advocate her position. So if she advocates and the public administrator will take over or one of the sons might step up either way, it's the same outcome if it's available.
Unknown Speaker :Will, she has no leverage whether she likes it or not. she divorced her way out of it.
Unknown Speaker :So
Unknown Speaker :it's a fraught truth.
Unknown Speaker :Can They Sell or lease the property at this point? I mean, or what? What would be the process?
Unknown Speaker :Well, you have to sign with her, assuming she has the letters of testamentary. She has the authority to sign. If she refuses to do so then that's that's for a probate attorney to pick up. That's where possible litigation comes into play. If she's standing in the way of if she if she's the ones standing between the deceased, you know, and the heirs then she has she has some of her own legal liability if that's the position she's taking. And these things are usually resolved by just getting a good attorney to roar like a lion for just a second. And they'll usually tuck their tail around and do what's right. You have to you have to you have to break down their ego and get through and usually you
Unknown Speaker :don't have to do anything formal or official just a, a stern well written letter from attorney will usually scare people into compliance.
Unknown Speaker :Okay, okay.
Unknown Speaker :Because in evitable like she she's only cheating her songs. So, you know, she's she's withholding the inheritance from them because she knows what it like. I don't care what the history is, like she was given a duty that she apparently accepted and if she's not living up to that duty, she should be encouraged. Even even if that is with a stick. She should be encouraged to do what she committed to or get the hell out of the way and a lot of public administrators step then that's probably the best answer. If you have contact with her so you know, this is going to be best for everybody. If you just abdicate your, your role as executor x and let a public administrator do this
Unknown Speaker :because it will state the house to be leaked liquid
Unknown Speaker :They're often dead. So they have to sell it period.
Unknown Speaker :If that's what the will says, yeah.
Unknown Speaker :And also they mentioned something about the monument of saddle.
Unknown Speaker :So in Texas, if if they, if they meet certain qualifications, and it sounds like that it probably does, then the house will actually be taken out of the probate. So at that point, you know, you're like,
Unknown Speaker :I don't know if you can force her to sign a listing agreement without I mean, you're gonna need an attorney sell but she's not, you know, if she's not willing to sign a listing agreement and do what's right, you're likely going to an attorney is going to have to get her to sign that.
Unknown Speaker :But I would, and she sounds like she doesn't have an attorney right now that you're aware of. Correct? Correct.
Unknown Speaker :Yeah, I was I was asked around in our mastermind group, call the probate clerk in that county.
Unknown Speaker :Ask you know what attorney has a lot of experience and is really good to work with because you have a fragile, fragile situation that doesn't have to be. It doesn't have to be any any bigger than it is right now. But if you put if you put this in the hands of an incompetent attorney, they're likely to end up in a perpetual loop of litigation. And you have a lot of animosity in the family if you put it in the hands of a capable attorney who's a good negotiator and and good with people. They'll they'll move they'll move through this in a day or two.
Unknown Speaker :Okay, and what's the mastermind group again, please?
Unknown Speaker :All the leads mastermind if you just search that in the main search bar, Facebook, it'll show you the group and then just request access.
Unknown Speaker :Perfect, thank you very much. All right, Chad, we have one more in the queue. Okay, go in a few minutes over. Yeah, I'm okay. It'll do 15 today. All right. Well, it shouldn't take that long. Last up this week. We saved the best for last is phone number
Unknown Speaker :ending in 0066.
Unknown Speaker :It afternoon. How are you? Great. How you doing Michelle? Right? Yeah. Hi, how are you? Great New
Unknown Speaker :York City. And I have a team of about six agents that are working with me. So I've purchased like several different counties. But I believe that was back in March or April. And we could not. We couldn't do real estate at the time.
Unknown Speaker :Put into a four. So now we're on and I have some of them on the call today. But I need to get started all over again. And I am not sure where to begin, so that we could get our training and I've got several lists to work on. And all some that go back even six months ago, but I want us to get going and make you know, first of all, welcome back. New York City came back it was the first county or
Unknown Speaker :Your County was the first county back in New York. So you You are back. We are getting leads there again. And, Michelle, have you done anything? Have you just been on hold? Okay. Okay, so you've done nothing. And I'm just checking real quick. I just did this see how many trade ending poverty trainings and a couple of them, but I still need to know what I'm doing so that I can be able to guide the rest of my team, you know, I'm saying, and I know that I was
Unknown Speaker :just chat.
Unknown Speaker :Just a German chat on Jai Jim and Chad. Yeah.
Unknown Speaker :I had spoken with Chad and I know that we can train at the same time so I'm just trying to get that set up. You know,
Unknown Speaker :where I would recommend Michelle is and subscriber portal. If you look under education and training, you'll see a menu item for book my next coaching call and I
Unknown Speaker :I would recommend you get on Bruce's schedule for an implementation call and he'll kind of help you understand how to do the right things in the right order. And you had mastery last month right?
Unknown Speaker :me did you did you take probate mastery last month?
Unknown Speaker :No, I did it. I haven't done
Unknown Speaker :yeah, so it's especially important that you do that then if you haven't had mastery, so we don't get on Bruce's calendar and he'll kind of you know, Bruce has worked on big teams and manage teams so he's certainly the best person for you to to do this with. I think you'll be surprised how easy you can make this for you. Right after the call we will reach out to you and we'll get it sorted out and I would agree with Chad let's get let's let's give you a booster shot if you need to. We'll put you through orientation again if you need to. And you certainly should at least do a coaching call with Bruce and let's get you let's get you you know restarted and back on track and welcome back. We're glad to have
Unknown Speaker :It's all of New York and hopefully soon New Jersey we'll be back
Unknown Speaker :you guys can you improve can do a loom call and share a glass of Kool Aid Oh
Unknown Speaker :education and training and go with
Unknown Speaker :schedule a coaching call
Unknown Speaker :okay and you're gonna pick them up on the on the subscriber portal side. Well Natalie and then Bruce and we'll get you back on track. Welcome back, Michelle. Thank you.
Unknown Speaker :All right, thank you very much. Chad. We had one more person jump in the queue. You want to take one more? Are we okay? Okay, and then once we're done by quarter after Okay, all right. Last up for sure. This week is phone number ending in 9882 you're up last a everybody
Unknown Speaker :either.
Unknown Speaker :Um, I just want to know my name is Jocelyn from Houston, Texas. I'm looking at Houston, Texas.
Unknown Speaker :I don't know once I've made
Unknown Speaker :appointment. What do I bring on?
Unknown Speaker :contracts? Maybe?
Unknown Speaker :What's
Unknown Speaker :not funny? Are you? Are you? Are you an investor a realtor both.
Unknown Speaker :As I mean, I would suggest if you don't have a real brokerage partner, definitely get that because it allows you to offer options which makes you way more valuable to the family.
Unknown Speaker :And the thing that I have learned this lesson the hard way, you always take a purchase agreement and a listing agreement on every appointment. Now, if you're not the brokerage partner, you might want to take them with you. So they have the authority to you know, sign the listing agreement. Obviously you don't want to do that if you're not licensed.
Unknown Speaker :But I mean, everyone does it a little differently. I found I came from resort real estate where we sold you know, high priced real
Unknown Speaker :state the high net worth individuals. So we had the fancy collateral and some of our handouts or as much as $50 apiece. And I brought that kind of standard of marketing into this, I find more success by dumbing down my listing package and offering as little as possible. So that forces the conversation that forces him to look me in the eye takes away the deferral of Okay, you've given us a lot to think about, we'll read through what you brought, it takes that objection off the table. If you want the information if you like, you have to look me in the eye and shake my hand. And I'll help you with your problem. So I have a ridiculously simple package it you know, I take a net sheet that runs three scenarios, and it's usually cash as is retail. So as an investor, I will you know, through the conversation, I'll find out what their level of motivation is and why. And that pretty much will eliminate the cash or the retail, and then if, as if their timeline is really tight.
Unknown Speaker :Then that eliminates as is, and there's only one option left. So that net sheet is probably the single most valuable tool that I have. And it's it's literally just three very simple rough scenarios side by side of here's how much you walk away with, if you if we buy a cash, here's how much if you sell it as is whereas, and here's how much if we go retail, the other, the other, you know, things that we teach is, you can actually show them what it looks like if they fully renovate and flip the house. So there could be a fourth scenario where you could, you know, shift that and just offer offer three, but giving them options makes them feel in control and like they're not being sold to or tricked into anything. So that's one of the most valuable tools is something you know, just a visual aid that shows them what their options are, where you can eliminate it on the spot and stop that procrastination. And it'll also eliminate them shopping you against other investors. Because the way we deliver this and I teach this in probate mastery, I show you
Unknown Speaker :Exactly how to use it but you basically get them to a point where you hand them a blue pen, and you've eliminated all the nose proactively. So the assumptive closes, you hand them a blue pen and they sign.
Unknown Speaker :So that would be the most valuable tool. If I had to pick one that goes on an appointment with me, I rarely have to use it, but when I do at work
Unknown Speaker :he's getting probate mastery and probate mastery with
Unknown Speaker :so that's the certification course that we offer once a month. It's not scheduled for September but we just finished the August class if you if you sign up, you can get the recordings now. You'll be in the live class in September.
Unknown Speaker :Okay, so my first class tomorrow
Unknown Speaker :we'll find that but it did it.
Unknown Speaker :Alright, well, thank you very much, guys. I want to thank all of you for being here. What
Unknown Speaker :100 people I want to particularly thank those who actively participated and I want to challenge each of you take one thing that inspired you on this call, go out and put it into practice. In camp, come back next Thursday and share the results with the group. Stay healthy, stay productive, and we will talk to you same time next Thursday. Take care, everybody.