Tag - Real Estate Investing

Preview for Probate Mastermind, a Real Estate Podcast that makes advanced sales, listing, and investing strategies easy for any agent, investor, or wholesaler to use.

Wraps, Sub2, Lease Options, B2B Prospecting, and More | A 500-Level Real Estate Mastermind in 50 Minutes | Probate Mastermind Real Estate Podcast #299

The Interactive Podcast on Probate Real Estate - Pick Your Podcast Platform

Probate Mastermind Episode #299 | Recorded Live on October 8th, 2020.  Join Us Live Every Thursday | Previous Episodes

 

TEASER ALERT: We will be recording a special podcast/webinar episode for All The Leads’ Ask The Expert Series next week with an Infinite Banking subject matter expert.  This special guest worked as a Medicare Broker before entering the Be Your Own Banker space.  With a deep understanding of the intersections between Medicare/Medicaid, Estate Planning, and Real Estate Investment Strategy, this Special Guest is someone you’ll want to hear. Make sure you are subscribed to alltheleads.com/blog to get notified when it publishes.

 

More Content Published This Week: October 2020 Updates: Social Media and SEO News For Real Estate Agents and Investors

 

Summary: In this episode of the Probate Mastermind Real Estate Podcast, Chad Corbett discusses advanced real estate investment and infinite banking strategy.  Topics include helping a family pay off Medicaid liens and earning that capital back by leveraging life insurance policies; using lease option to acquire or wholesale probate property; becoming your own banker and turning your SOI into private lenders for real estate investment deals; accessing funds/financing for repairs to maximize equity when a seller has no liquidity or credit, without using your own capital.  Other discussions include winning B2B relationships with real estate attorneys and adjusting your marketing strategy to combat the telesales impacts of COVID-19.

 

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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Episode Topics, Timestamps, and Resources:

 

Preview for podcast segment on Learn how to become your own banker, help families with medicaid property and estate planning, and regain real estate investments through infinite banking

Advanced Investment Strategy: Infinite Banking, Life Insurance, and Medicaid Properties (0:47)

Eddie is working with a seller who is about to lose inherited property due to a transfer on death to Medicare.  Eddie describes the situation and Chad explains what’s happening and how the situation got to this point.  Then, Chad describes an advanced investment strategy stemming from the Be Your Own Banker (BYOB) philosophy.  This strategy can help settle Medicaid debt out for a much smaller amount, let surviving family members remain in the house, and become a solid financial investment for all parties involved. 

TEASER ALERT: We will be recording a special podcast/webinar episode for All The Leads’ Ask The Expert Series next week with subject matter expert on this subject.  Make sure you subscribe to the alltheleads.com/blog (at the bottom of any blog post) to be notified when the episode is published.

 

Preview for podcast segment on the 1% rule in real estate investing

 

What Is The 1% Rule In Real Estate Investing?(7:06)

Joyce is interested in learning more about the 1% rule for property valuation. The 1% rule is something some investors love and others hate.  Here’s a simple explanation of the 1% rule from the Bigger Pockets Blog.  

Preview for podcast segment on transferring property to family members for trusts and probate

Intra-Family Transfer and Quit Claim Transfer (7:40)

Joyce asks about Intra-Family Transfer and to what extent family members are able to go this route.  Chad describes how Intra-family transfer is really a quit-claim transfer so whether an extended family member is eligible for intra-family transfer or not, quit-claiming the deed is always an option.  In most states, this will be a zero-dollar tax transfer.  

 

Preview for podcast segment on Help your real estate clients with Medicare liens and bills

Helping Real Estate Clients With Medicare Paperwork (8:28)

Danny’s working with a potential probate seller who’s biggest obstacle right now is handling Medicare paperwork.  Chad lists a simple step for finding a social worker or care manager in your area who can help with any of these situations.

See More: Unexpected Places to Find More Listings and Deals – Probate Referrals from Medicaid and Social Workers

 

Preview for podcast segment on attorney referrals for real estate listings

Top Strategies For Building Referral Relationships With Real Estate Attorneys (10:22)

Fed is having trouble getting through the receptionist when calling attorney offices.  How can he get further with his B2B prospecting efforts? Chad describes the two strategies that have always worked well for different personalities, different markets.

See More: Ask The Expert – Everything You Need To Know About Working With A Probate Attorney to Grow Your Real Estate Business, With John Erik Fraker, JD

 

Preview for podcast segment on lease option for wholesaling probate

Lease Options for Wholesaling Probate Property (21:17)

Patrick wants to get started with Probate Leads.  Is Lease Options/Lease With Option To Purchase a viable strategy to start wholesaling probate properties? Yes. Chad describes his 95% close rate with lease options and probates. He describes a situation with a VA Loan to make his case.

See More:

Joe McCall - How to get 95% of your lease option tenant-buyers financed with Chad Corbett 

Shift Happens Session 4: 7 Different Creative Financing Strategies 

 

Preview text for podcast segment on wraps, sub2, liens, equity, and annuities

Wraps, Sub2, Liens, Annuities, Liquidity and Equity! How to Help Homeowners with Financial Urgency Now (25:15)

Ellie and Patrick describe a deal they’re trying to work out.  The seller is an senior who has a cash urgency.  Chad helps Ellie and Patrick do some deal analysis on the spot and gives them a brokerage and investment option for helping the seller get the most out of her equity in the fastest time.

 

Preview for podcast segment on how to Finance home repairs and remodels without cash or credit

 

How to Pay For Repairs and Improvements When A Seller is Tight on Cash (28:08)

Caller is looking for advice on how to help sellers fund and finance repairs when they don’t have the cashflow themselves.  Chad offers different strategies for accomplishing this without having to risk your own capital.

See More:

Offering Sellers Vertically-Integrated Solutions Without Putting Your Own Capital On The Line

5 Ways To Access Equity for Improvements When Traditional Financing Isn’t an Option

How to Get Your Clients Cash UPFRONT When Inheritance Is Tied Up in Probate – Estate Advance with ProbateCash

 

Preview for podcast segment on how to Buy abandoned house next door in probate with late mortgage

 

I Want to Buy The House Next Door.  The Kids Are Done Dealing With it. How Can We Transfer Title? (37:58)

Ryan’s neighbor passed away and Ryan is interested in buying the house himself.  The kids were living there for a while, but they got tired of dealing with it and left  The house is about $8000 late on mortgage payments.  There is only one mortgage. Ryan knows how to contact the kids.  What does he need to do to make sure title can be transferred, and how can he motivate the kids to get out of Probate Quicksand?

 

Preview for podcast segment on Cold Calling Tips for Virtual Wholesalers

 

Building Rapport With A Seller That Has A Bad Impression Of Real Estate Investors (40:55)

Dave is interested in an ancillary probate property that he wants to wholesale virtually.  The property and the surviving spouse are in Brevard County, Florida. The seller is wary of cash offer prices and wants to meet Dave in person.  Dave lives in another state and is wholesaling virtually.  How should he proceed? Chad offers two solid strategies for leveraging a contractor partner and/or earnest money deposits in this situation.  If those don’t work, Chad offers a trick for getting the neighbors to help nudge the seller.

 

Preview for podcast segment on Landline phone use 2020 covid impact cold calls and telesales

 

Are People Finally Getting Rid of Landline Phones? Adjusting Your Marketing for COVID-19 Impact (44:58)

Stefan is in Northern California and is running into a good amount of disconnected lines while making calls.  In particular, the first and sometimes second column of numbers is seeing this happen more often.  Are court delays and economic impacts from COVID-19 impacting prospecting?  In other words, are people making different financial decisions, such as shutting off a landline to save on monthly expenses?  As the nature of telesales changes, how should you adjust your overall marketing strategy? Chad and Stefan discuss.

 

 

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Episode Transcript

Probate Mastermind Real Estate Podcast - Episode #299 Transcript

A.I. Narration: [00:00:00] Welcome to the Probate Mastermind Podcast!

These episodes are recorded live once a week and are hosted by the All The Leads.com coaches.     Agents, Investors, and Wholesalers join the coaches 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.  "

A.I. Narration: [00:00:25] Be sure to catch show notes at All The Leads.com slash Podcast, and join our free Facebook Mastermind Community, " All The Leads Mastermind."

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Join the All The Leads Mastermind Group on Facebook. Networking, Accountability, Masterminding, and more!

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Preview for Probate Mastermind Real Estate Podcast Episode 298

Cold Call Tricks for Common Objections | Wholetaling vs Wholesaling and How COVID is Impacting Investment Strategy | PLUS 15 More Real Estate Q&As. Probate Mastermind Real Estate Podcast #298

The Interactive Podcast on Probate Real Estate - Pick Your Podcast Platform

Probate Mastermind Episode #298

Recorded Live on October 1st, 2020.  Join Us Live Every Thursday and check out previous episodes

 

In this episode of the Probate Mastermind Podcast, you'll learn new ways to handle cold call objections like "Court's delayed, call me back later!" and "I am not interested."   The coaches break down price options, estimating repair costs and ARVs, and how COVID's impact on the lumber market is affecting investment strategy.  Chad breaks down wholetailing vs. wholesaling.  Other topics covered include optimizing long-term marketing for old leads, partnering with an attorney for creative financing, using Letters of Intent in place of contracts, and real success stories, feedback, and insights from participants.

Shout out to MaryLee for her recent double-side PLUS referral transaction! Hear about it at 12:18. “I have really overcome my fear of making those telephone calls and feeling like I'm not being of service.  Now. I realize what a tremendous success it was and how helpful it was to everyone all around that I no longer feel intimidated that I'm bugging them or I don't have offer any value.”

 

These episodes are recorded as a live Question and Answer Mastermind with participation from agents and investors across the country, and can be found at AllTheLeads.com/Blog or in the “All The Leads Mastermind” Facebook Group. Thanks for tuning in, and don’t forget to subscribe for future episodes!

 

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Handling Cold Call Objections: "Court's Delayed; Call Me Back Later!" (0:38)

Caller is getting the “Call Me Back” objection more than ever because of Coronavirus and court backlogs.  The seller is concerned they can’t do anything without their letters of testamentary or until probate is closed.  Chad shares tips for handling this common cold call objection.

See More: “Our Probate Attorney Said We Can’t Sell Until Probate is Closed!” Handling Objections – Mastermind Highlights

Real Estate Contracts vs. Letters of Intent (2:44)

Can you sign paperwork to purchase a house or list a house before a probate lead has their letters of testamentary?  Chad discusses the difference between enforceable real estate contracts and letters of intent.  Even though they’re not legally-binding, letters of intent are extremely powerful and using one has a lot of pros.  

Sales Psychology and Language: Future Pacing (3:37)

Bruce describes a sales technique called ‘Future Pacing,’ and how you can win a commitment by getting the your prospect to picture themselves in the future with their problems solved.  This effective technique will help you win commitment when responding to objections that deal with waiting, procrastinating, and uncertainty about where to start.  

Creative Financing 101: Learn The Different Strategies and When To Use Them (4:54)

Josh (Pennsylvania) has a SUPER motivated seller that’s dealing with a reverse mortgage.  The ARV value would cut out all the equity in the deal.  Jim and Chad breakdown going the Short Sale vs. Sub2 route.  Next, Josh asks how to present this. Chad details how to educate the seller on both options.


See More: Chad’s Book Recommendation - Chris Fontaine: Real Estate On Your Terms

Chad’s Webinar on 7 Different Creative Financing Strategies and the Pro’s and Con’s of Each.

Partnering With A Real Estate Attorney For Creative Financing (8:14)

How can a real estate attorney help you compared to a title company? How can you find attorneys to work with and make sure they are strong partners for real estate investment? What’s the best way to approach an attorney to work with them on creative finance paperwork, deals and closings?

How to Jump Into Probate Real Estate (11:30)

Ken is looking for advice on getting started as a probate real estate agent. 

See More: The Probate Leads System, Probate Mastery course, the All The Leads Facebook Mastermind, and the All The Leads YouTube Channel.

Mary Lee Shares Her Success Story: Trusting the Process and Providing Value (12:18)

Mary Lee describes a phenomenal deal she’s closing.  She initially marketed to the lead back in June through the mail, and they reached out to her via text message two weeks ago.  Mary Lee describes how she navigated the deal by offering three different solutions.  The house was a hoarder house.  She ended up double-siding the transaction on this house, referring the personal representative to an agent in California to help her buy a house with the funds, and the seller is super happy! Mary Lee describes how this deal is expanding her sphere of influence.  Mary Lee was about to throw in the towel on marketing to probate leads, but just like that the ROI came through! 

Chad and Mary Lee reflect on how deals like this make you fearless and solidify confidence in the value of your work.

Cold Call Tips: Follow-Ups and Converting Leads to Clients (17:35)

Dave is interested in using ringless voicemail.  How risky is it to leave automated voicemail drops; can you get sued? Chad explains why the litigation risk of ringless voicemail is growing in 2020 and suggests an opt-in strategy to protect yourself.

See More:

  1. Probate Quicksand and Pulling Personal Representatives Out Of It
  2. David Pannell’s 2020 Case Study: See how David Pannell has built wealth through probate real estate as an agent AN investor.

Price Options, Estimating Repair Costs and ARVs, and Choosing The Best Deal Structure (23:12)

Caller is looking for clarity on how to price properties out and choose the most profitable deal structure.  Chad and the caller discuss the different price options and the math behind calculating repair costs, after-repair values, and return on different listing, acquisition, or creative finance strategies. Chad also discusses how rising repair costs due to lumber market supply chains make as-is a much safer strategy right now.

See More: Rising Lumber Costs and Real Estate Investment Strategy: Why YOU Should Motivate Sellers To Skip Repairs and Sell AS-IS 

Wholetailing vs. Wholesaling Real Estate (26:28)

Chad and Jim discuss what wholetailing is, how it’s different from wholesaling, and why it’s often a better and more profitable strategy in today’s market.

Steve Shares His Experience with QLS and Chris Fontaine's Coaching (29:36)

Steve has taken Chris Fontaine’s course and is using his QLS (Quality Leads System).  Steve shares his praise for Chris’s work and how well it ties into what Chad teaches as far as creative financing and the probate real estate niche.  Overall, if you understand how to provide options you can carve out an opportunity anywhere.

Tips For Prospecting Unrepresented Probate Leads AND Winning Attorney Referral Relationships (31:09)

Mary is about to send letters out to her first list of probate leads.  She sees a section in one of All The Leads’ letter templates that mentions helping unrepresented petitioners find a qualified probate attorney.  Mary is curious how many probate leads are unrepresented at the time of filing.  Chad breaks down the statistics on pro per and pro se filings in probate. Then, Chad describes how offering to help someone find quality representation is not only a viable prospecting strategy on the lead side, but also for winning B2B relationships with attorneys by bringing them referrals they can’t solicit for themselves.

I'm an Investor. How Can I Find An Investor-Friendly Realtor Partner? (35:14)

Mary is a real estate investor.  Sometimes her prospects want to go the listing route.  Should Mary get her real estate license? Chad discusses how every agent and every investor can make more money by offering both options, whether by getting licensed themselves or working with a strong partner.

See More: Why EVERY Investor and Agent Should Have an Agent/Investor Partner.

How Asking The Right Questions While Prospecting Can Up Your Follow-Up Game  (39:10)

Eddie is sticking to his prospecting schedule and getting his cold calls and follow-up calls made.  He’s trying to find the “Sweet Spot” for making follow-up calls.  He wants to be aggressive without bothering people.  Bruce shares his strategy and conversational language for finding the follow-up sweet spot.  It all comes down to the individual’s ideal situation and adjusting your follow-up strategy to match that individual’s ideal situation.

How To Overcome the "I am not interested" Objection (41:44)

Eddie is looking for tips on handling cold calls that end with “I’m not interested, we have it all handled, *CLICK.*” Bruce explains his technique for responding to this objection before people can hang up.  It works so well, the prospect usually won’t offer any follow-up objection at all.

Old Leads: Tips For Optimizing Your Long-Term Marketing (45:59)

How old is too old? How long are probate leads worth marketing to? Chad gives his magic number at 3 years, and Jim shares a deal he closed yesterday on a two year-old lead.  The coaches offer advice on how to optimize a marketing schedule to maintain followup to old leads.  Bruce also plugs Probate Plus+ as a tool to check who still has property to sell.

Cold Calling Widows/Surviving Spouses in Probate (48:32)

How often should you call widows/surviving spouses? Chad lays out a tentative schedule, and more importantly emphasizes the value you can bring by helping surviving spouses early in the process.  Chad shares how the first widow he helped left a lasting impact. 

See More: Cold Calling Widows/Surviving Spouses in probate

 

 

 

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Episode Transcript

Probate Mastermind Real Estate Podcast #298 Transcript

A.I. Narration: [00:00:00] Welcome to the Probate Mastermind Podcast! These episodes feature: live questions, Deal Analysis, and Best-Practice Tips on everything from personal development, sales psychology, creative financing, marketing, and more.  Hundreds of Agents, Investors, and Wholesalers from around the country join the All The Leads Coaches: Chad Corbett, Jim Sullivan, and Bruce Hill , each and every week.

Be sure to subscribe at AllTheLeads.com/Podcast, and join our Free Facebook  Group " All The Leads Mastermind."

Thanks for listening to the Probate Mastermind Podcast!

(Disclaimer: As with any live recording, things happen, this audio has been cleaned up for better listening experience.  Let's go to the first caller)

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Join the All The Leads Mastermind Group on Facebook. Networking, Accountability, Masterminding, and more!

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Preview for Ask The Expert Episode on Funding For Investment Deals

Funding Real Estate Investments: Hard Money vs. Conventional Lending and Why You Need a Hybrid Option.

Funding Options For Investment Deals Just Got Better:

“Take everything that you know about conventional loans, FHA, VA, Fannie, Freddie, and throw it out the window.”

Finding real estate funding sources can be a bit tricky. First, conventional lending requires credit-worthiness and paid property appraisals; the slow turnaround time also means a deal could be gone before you get your proof of funds.  While hard money lenders offer quick turnaround, even for investors with low credit scores, the downside is they often require hefty down payments and tack on high interest rates. 

Looking to fill the gap between conventional lending and hard money,  Rick Rall and his team at Navigator Private Capital designed funding options for real estate agents, investors, and wholesalers without high interest rates and bulky application barriers.  

Rick’s team is successfully funding real estate deals for beginners and experienced real estate professionals. With generous terms for fast funding and refinancing in one place, there’s no need to scramble to refinance a buy and hold, submit taxes, wait for proof of funding letters, and risk leaving deals on the table.

For investors you can avoid pre-payment penalties, large down-payments, and high interest rates.

For beginners, you can obtain financing without the traditional barriers to qualification.

For realtors, Rick’s strategy can help you turn those houses that sold in less than 3 days into acquisitions so you can start building out your investment portfolio. 

A lender with an expert understanding of investment, brokerage, and title will also provide you with extra guidance over your acquisition strategy.  You’ll have marketable title when you’re ready to sell properties from your portfolio in the future. 

Best of all, Rick’s platform offers 24/7 access to applications and proof of funds letters.

After this episode, you'll understand why having a real relationship with a lender like Rick, someone can act quickly and provide options and guidance that fit the deals you’re working on, can take your real estate business to the next level.

 

EPISODE TOPICS:

  • Hard Money vs. Conventional Lending and Why You Need A Hybrid Option (0:07)
  • How and Why Did You Get Into This Type of Lending? (2:57)
  • The Product-Market Fit: Enabling You To Make Money Any Time You Provide Good Service. (4:13)
  • Different Funding Options For Different Real Estate Agents, Investors, And Wholesalers. (5:45)
  • Experience, Money Down, Credit Checks, Business Loans? Why Rick’s Program is Different Than Lenders Near You. (12:21)

 

 

 

EPISODE LINKS:

Learn More About Rick's Funding Options

More from the Ask The Expert Series

 

 

 

Episode Transcript

Chad Corbett 0:00
Alright, welcome back to another episode of Ask the Expert guys today we have rick roll from navigator, product capital, this conversations valuable if you're a broker or an agent, this can be valuable to you because it's a difference in getting a deal funded and especially in a tumultuous environment, or in a house with with that needs major repairs. This is a way for you to capitalize investors, even if they're new investors. And we'll talk more about the the way they kind of underwrite based on experience level and, and whatnot. But I think that whether you're an investor or in brokerage on listing this, the Rick and these guys, they have a program for just about anything. As you guys know, in this series, ask the expert, we always look for people outside of our wheelhouse, that are experts in their own space, but can benefit both our company and more importantly, you guys and your business and the consumers you're serving. So Rick has a background in brokerage. He's got investment experience, banking, mortgage banking experience, and private money experience. So Rick, I'll let you tell a little bit more about yourself. And then we'll jump in.

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Blog Post: Why Sellers Should Sell Now, Even as Lumber costs are making repairs more costly.

Rising Lumber Costs and Real Estate Investment Strategy: Why YOU Should Motivate Sellers To Skip Repairs and Sell AS-IS

Blog Post: Why Sellers Should Sell Now, Even as Lumber costs are making repairs more costly.

 

What Does A Changing Lumber Market Mean for Real Estate?

I saw this visualization this morning and keep thinking of ways lumber costs + current events = bigger-than-you-think impacts on the real estate market.

Graphic visualization of rising framing lumber prices during Covid-19 backlogs

From Christopher Schwarz. View original post on LinkedIn.

 

First, I thought about Jim Forsythe discussing a deal he's working on during a Probate Training Call last month.  Jim is helping one of his probate leads sell timberland they inherited.  Because Jim understands the importance of finding the right buyers, he sought out sawmill investors.  As a result, Jim and his seller received competitive offers from buyers who understood the real value of this land.

 

Next, I thought about my contractor friends and the concerns they're expressing about lumber costs.  Because property owners are putting off repairs, contractors are short on income.  With sellers losing motivation to sell, many real estate agents and investors think a shrinking pipeline is inevitable. 

 

Quickly, I remembered Chad's strategy for contracting vendors in advance for bulk work.  The goal here should be two-fold: Build strong relationships with vendor partners (during a time where much of their work is being delayed), AND offer vertically-integrated solutions to sellers.

 

 

Listen Now: Chad's Mastermind Prospecting Strategy, Timestamped at 27:40

 

 

Better Real Estate Training Means You Can Help Sellers Make Better Decisions Now.

Motivated sellers that were ready to list with ARV (after repair value) pricing now face a new obstacle of rising lumber costs.   Many of these sellers think their only (and best) option is to sit back and wait indefinitely to move forward with selling their property.

 

Sellers might not realize that they can net more by minimize holding costs and selling as-is.  Sellers likely don't realize how creative financing options can help them, either.  You play a vital role in educating your sellers.  Are you offering these options, and are you educating your prospects on why they might be good solutions for them?

 

Get Chad Corbett's free Training Webinar and Infographic on 7 Creative Financing Strategies You Should Know

[contact-form to='katt@alltheleads.com' subject='Please Send Me The Creative Financing Video!'][contact-field label='Email' type='email' required='1'/][/contact-form] 

 

 

Current events will only kill your pipeline if you let them.  If you make the deal make sense, your sellers will move forward.  Get the training to grow your skill set now so you can offer great solutions in any situation, and surround yourself with real estate masterminds so you can always learn something new.

 

 

 

WATCH AND LEARN:

Mastermind Snippet: Price Options, Estimating Repair Costs and ARVs, and Choosing The Best Deal Structure (23:12)

Caller is looking for clarity on how to price properties out and choose the most profitable deal structure.  Chad and the caller discuss the different price options and the math behind calculating repair costs, after-repair values, and return on different listing, acquisition, or creative finance strategies. Chad also discusses how rising repair costs due to lumber market supply chains make as-is a much safer strategy right now.

 

 

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Preview for Live Probate Expert Phone Call and Testimonial from Probate Real Estate Client

Probate Expert Shares a Live Probate Call

Learn from the Probate Experts and Build a Better Business with Probate Real Estate.

David Pannell is one of the top-performing Probate Investors/Probate Agents in the country.  Combining the Probate Mastery approach with the dedicated prospecting strategy he developed in a decades worth of converting FSBOs and Expireds, David consistently converts probate leads at high rates and leaves lasting impressions on the people he helps.

David Pannell recently helped Betty get through the probate process and sell her home.  Even though Betty was contacted by plenty of agents and investors she was reluctant to speak with, David built a relationship by calling and checking in on Betty periodically.  Betty saw David could get the job done, David delivered, and Betty is now a great testimonial for the value David provided as a Probate Expert.  

 

David shared with us (with consent) the recording of the live phone call where Betty committed to letting David get over to the property and begin the sales process. David was able to sell her home for $34,000 more than the PREVIOUS listing agent had it listed for. Listen Below:

 

Things to Know:

  • David called this probate lead multiple times until he won the deal.
  • Betty specifically recalled that David was the one that sent him “those nice brochures” in the mail.
  • The mailer included a mention of Estate Sale help, which drew Betty’s attention.
  • Betty was a dependent administrator who had concerns of Covid and having people in and out for an Estate Sale.
  • Betty was concerned about the cost of Estate Sale, as another company estimated 45% commission.
  • Betty lives over 240 miles from the property.
  • David laid out price options (cash offer and get it over with, clean it out and take a bit more time to get a higher price on the market).  
  • David offered Betty to make either option happen.
  • David landed permission to get over to the house with his Mom to price out some of the items for sale and look at the property.

 

Most importantly, when David can use his story of helping Betty to show his next client how much value a Probate Expert can bring to the table.

 

 

 

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Next week, catch David Pannell as he sits down with Chad Corbett for a 2020 Case Study, a follow up to their 2019 interview where David discusses his roadmap to the Million-Dollar-Club in Probate Real Estate. Subscribe on YouTube, to this blog below, or get in the All The Leads Mastermind group to catch the Case Study when it’s published.

 


David Pannell Headshot - Probate Real Estate Investing, Wholesaling, and Listing All The Leads SubscriberAbout David:  David has been in real estate for 12 years.  He worked with buyers through the short sale/REO period between 2007-2010, switching to listings in 2011. He has also since ramped up his acquisitions.  Like many, he started with open houses and SOI leads. He eventually hired a coach and quickly mastered Expireds/FSBO marketing. He now works directly with ATL, GGMS, and B-School to learn and scale his business. He is focused on solidifying 3 major pillars in 2019, one of which is probate real estate.  In mastering the empathetic approach, the team is looking forward to a third of their projected 300 closings in 2020, to come from probate listings/cash deals alone.


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If you are a real estate agent or real estate investor looking for real estate leads and you want to offer a service to your community then you really need to consider becoming a probate expert. Over the next 40 years over $136 Trillion in assets will pass from one generation to the next and nearly 80% of that wealth is locked up in real estate. This is an opportunity for you to build a strong pillar in your business while your competition is still out begging for business from the same leads they’ve worked for the past 20 years. All The Leads provides a system driven by ever-expanding knowledge and experience. To see how many leads we gather in your county each month, click here.

 


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[contact-form to=’kattwagnerny@gmail.com’ subject=’Probate-Leads Response’][contact-field label=’Name’ type=’name’ required=’1’/][contact-field label=’Email’ type=’email’ required=’1’/][contact-field label=’If you would also like to be contacted about leads, please let us know what county/counties and the best phone number to reach you:’ type=’textarea’/][/contact-form]

 

Probate Plus

Ways to Find Investment Properties

If you really want a great property in which to invest you have to know how to increase your odds of finding fantastic deals. And while you can find a worth property in which to invest by looking through the MLS listings – your best odds are to use several resources to help you scout the best potential investment. Here are nine resources savvy real estate investors use:

Networking: By growing and cultivating your network of professionals you can let people know you are looking. Doing this will sometimes create certain opportunities. For example, some owners out there who want to sell, but haven’t yet listed their property may actually contact you.

Drive around looking for “For Sale by Owner” signs: This is the hard way to do things since competition using this method will be quite stiff.

Find abandoned properties: Owners who don’t want to incur the expense of caring for a certain property are often willing to part with the property for a song.

Use the internet: Use a search engine and enter the type of real estate you are looking for. This can lead you to some interesting opportunities but it can be quite time consuming.

Talk to bankers: You should already have bankers in your network of contacts that can help you. They may be able to help you learn about a foreclosed investment property.

Offer your contacts a finder’s fee: Let your contacts know what is in it for them to help you achieve your goals.

Eviction notices: You can often get a lead on investment properties by scanning your local newspaper’s eviction notices. Or you can get the information at the courthouse. After all, a landlord who just went through the process of evicting tenants can be a very amenable seller.

Old FSBO ads: Look for two-month-old “For sale By Owner” ads. If these have not sold they may be ripe for an investment. This is because owners often give up the effort but not completely.

Purchase Probate Leads: Our Probate leads are well gathered directly from the courthouse and ran through a proprietary data-validation system. Additionally, we offer our professionals the knowledge base to use these leads effectively.

Of course, it isn’t just about finding a potential investment property. You have to have the knowledge too. Our Probate Mastery Course can be one means by which you can find and utilize the probate property leads that we can give you. These leads are vetted and much more reliable than the above methods. Our real estate seller leads can make your business prosper in a way that it never has before.

4 Habits of Successful Real Estate Investors

It takes more than a little savvy to become a successful real estate investor. As we have pointed out many times on this blog, it also takes quite a bit of skill, knowledge, the right network that can be exploited at just the right time. It also takes quality leads. However, another key to being a successful real estate investor is to adopt the habits of successful agents and investors who are out there with thriving businesses. To achieve lucrative real estate investment goals, implement the following real estate investor tips.

Clarify your real estate investment goals: It always helps to have clarity of purpose when you are venturing into any business. As you evaluate your goals, ask yourself the following questions: How much money am I willing to invest in real estate? Do I have good credit? What does my business need to grow? Am I looking for a tax break? As you ask yourself these questions, also make sure that you set a realistic time frame for yourself.

Learn how to use the tax rules to your advantage: Every dollar you save on taxes can be used to invest in real estate. Make sure to add someone who is knowledgeable about tax law to your list of contacts. Their knowledge could be useful to both you and your clients.

Know the market: Effective real estate investors and agents go out of their way to acquire an in-depth knowledge of their particular market. They do so by keeping abreast of trends, mortgage rates etc. This helps them to better serve their clients and enables them to predict future trends that could affect their investments. Finally, it can also help you discover new listing leads.

Stay educated: Knowledge is power when it comes to this industry. As a real estate investor you should be knowledgeable about laws, regulations, trends and terminology related to the profession. This will help you better adapt to regulatory changes and it will also help you be of greater value to your clients. We can provide you with some of this knowledge through our archival conference calls. We can also provide you with the best real estate leads for agents on the Internet.

Real estate investing represents an awesome opportunity to explore new avenues. It can help you grow your business and secure your financial future.

Thumbnail describing All The Leads Tips From The Trainer content: Why investors should get their real estate license, and agents should start inveseting.

Why Every Investor Should Have a Real Estate License, and Every Agent Should Understand Real Estate Investing (or Be an Investor Themselves)

Whether you have your real estate license and are looking to get into investment, or you’re an investor, wholesaler, or flipper wondering how you can benefit from having a license, we’ve got you covered.

Jump to the Video Here

Should I Get A Real Estate License As An Investor?

If you ask most investment gurus, “Should I get a real estate license to flip houses and buy properties as an investor or wholesaler?” They’ll tell you no.

Gurus often push the idea that being licensed is a liability instead of an asset, but as long as you’re doing business ethically, the opposite is true.

 

So, what can you do with a real estate license?

The biggest benefit of getting your real estate license is you’ll be able to offer more than cash offers.  Some benefits of a real estate license for investors include MLS access, networking opportunities through your brokerage, and increased income from commissions you otherwise would have paid to enlist an agent for.

 

If you want to save money on every disposition, for the rest of your career, get a real estate license. Or at the very least, find an investor-friendly real estate agent to work with.

 

Learn More About How To Bridge the Gap Between Real Estate Brokerage and Investment – David Pannell’s Case Study

Can I Make More Money as an Agent Through Real Estate Investing?

Real estate investing offers agents a unique set of benefits.

It’s also easy to transition into.  You’ve taken your real estate courses, passed your licensing exam, and found a brokerage to hold your real estate license. So what is there to lose?

The biggest reason real estate agents hesitate to start investing is they don’t understand investment strategies well enough.

If you want to understand wholesaling, assignment, subject-to, private money, and all the different strategies investors use in the residential space, shake off your fears! Start learning so you can grab the deals and income you’re missing out on.

Leverage your real estate license and become an investor-friendly agent.

There are always investors and wholesalers looking to find a real estate agent who understands investment and wholesaling.  Investors know working with the right agent means smoother deals and a better experience for their customers.

Even if you choose not to invest yourself, leveraging business relationships with investors and wholesalers is a great way to find listings and make commissions you’d be missing otherwise.

 

Get the Most Out Of Every Deal by Providing Multiple Options

Most clients don’t know what kind of help they need in the early stages of selling. Most people approaching these clients only bring one option to the table.

Offering multiple options allows you to bridge the gap between what just an investor and just an agent can offer.

You will be much more valuable to prospects looking for the right person to help sell their home.

 

And, chances are high you’ll have very little competition standing next to you if you’re the one building the bridge.

 

If you think you should be bridging the gap between licensed brokerage and real estate investment, you absolutely should be!

In this Tips From The Trainer episode, Chad makes it simple to go into any appointment, show sellers their options, and become a transaction engineer on the spot. Check out the video below: 

Video Navigation – Key Tips:

  1. What Investors Gain By Having A Real Estate License (1:58)
  2. What Realtors Should Know About Real Estate Investing (6:48)
  3. How To Re-Imagine Your Strategy and Get Started (10:20)

 

Explore More Tips From The Trainer

 

Invitation to join Probate Real Estate Mastermind Group by All The Leads, for agents, investors, and wholesalers to network.

Find Agents and Investors to partner with in the All The Leads Mastermind Facebook group!

 

Check for Probate Leads Near You

 

 

How to NAIL Cold Calling Probate Leads as a Real Estate Agent, Investor, Or Wholesaler – Live Roleplay Critique and Comparison

Learn More: How to Cold-Call Probate Leads as an Agent, Investor, or Wholesaler.

Video Thumbnail for All The Leads Probate Real Estate Success Story - 60 Second Case Study from Willie Gallegos

What 30 Minutes Could Do For Your Pipeline This Week | Probate Leads – Real Estate Success Stories

Willie Gallegos realized he left 12 deals on the table because he didn’t work an old set of probate leads.

He decided it was time to get accountable and work these leads instead of letting them fall through the cracks!

So, he took a few minutes to prepare and send off a voice broadcast (ringless voicemail) campaign, and from that campaign he’s already purchased a property himself and taken a listing.

Willie’s story is a 60-second case study of success with probate real estate leads, and how a little motivation can bring an easy ROI. In addition to his ringless voicemail campaign, he sent emails to about a dozen probate leads and is now working on a third deal referred by a probate attorney who saw value in what Willie offers as a probate specialist.

Would you take 30 minutes to follow-up with a set of old probate leads if it put 3 deals in your pipeline?

Willie is a real life reminder that the fortune is in the follow-up – And all it takes is a little motivation to bring BIG SUCCESS.

Let’s put it into practice!!!

 

 

 

Willie shared this story on our 245th Live Mastermind Q&A call, which you can catch in full here.


Want more tips, tricks, success stories, and motivation to keep your cold calling and prospecting efforts going strong?!

Join the All the Leads Mastermind Group on Facebook.

 

Clayton Morris Investing in Real Estate Podcast - Featuring Chad Corbett

How To Build A Portfolio of Probate Properties with Chad Corbett – Investing In Real Estate with Clayton Morris | Build Financial Independence Ep. 509

How to Build a Portfolio of Probate Property with Chad Corbett – Episode 509

One interesting way of building a real estate portfolio is to acquire probate deals. However, this can be a sensitive topic, so it must be approached with kindness and empathy. Chad Corbett is the co-founder of All the Leads, a company that provides comprehensive probate training to real estate investors.

On today’s show, Chad is pulling back the curtain on the probate industry so you can learn how to build a portfolio of probate deals. You’ll learn how to find probate deals, how to be an effective and fair negotiator, and more! If you’ve ever wondered about buying probate deals, this episode is for you!

Listen to Chad and Clayton’s interview about How To Build A Portfolio of Probate Properties:

https://morrisinvest.com/podcast/2019/8/10/how-to-build-a-portfolio-of-probate-properties-with-chad-corbett-episode-509

iTunes: http://apple.co/29XoSp5

Overcast.fm: http://bit.ly/2a6yApt

Stitcher: http://bit.ly/2hbLkhr

 

On this episode you’ll learn:

  • The three rules that Chad lives his life by.
  • What probate is and how it works.
  • What percentage of Americans have a living trust.
  • Cultural differences on how we view death.
  • How to find probate deals.
  • Why being a good listener is part of being a good negotiator.
  • How being empathetic changed Chad’s business.
  • And more!

 

Book a call with Clayton’s Team: https://goo.gl/qr6iat

Show notes: http://morrisinvest.com/episode509

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