Probate Mastermind Real Estate Podcast: Episode 305

Listing, Wholesaling, and Investing With Probate Real Estate | Rookies and Veterans Share Their Success Stories #305

Probate Mastermind Episode #305 | Recorded Live on November 19th, 2020.  Join Us Live Every Thursday | Previous Episodes

 

Episode Summary:

In this episode of the Probate Mastermind Podcast, you'll learn how to:

  • Split net profits with vendors while maximizing equity for sellers;
  • Leverage insurance policies to help fund repairs, cleanouts, and fumigations;
  • Liquidate estate items creatively
  • Win the attention of busy real estaet attorneys
  • Navigate short sales with fire-damaged property.  

***Most importantly, we’re kicking off the holiday season with some incredible success stories from rookies and veterans that are turning probate leads into listings, acquisitions, and wholesale deals!

 

These episodes are recorded as a live Question and Answer Mastermind with participation from agents and investors across the country. Thanks for tuning in, and don’t forget to subscribe for future episodes!

 

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Episode Topics, Timestamps, and Resources:

 

Preview for podcast segment Jim Wins Listing Referrals From Probate Attorneys

Jim Wins Listing Referrals From Probate Attorneys (00:57)

Jim Forsythe shares updates on his attorney prospecting efforts.  He has met with several attorneys and not only are they ready to work with him in the probate space, but they are already sending him referrals for non-probate properties.  They will also be working together to create videos to use as marketing content.

Real Estate Advice: MLS Compliance and Selling “Off-Market”

MLS Compliance and Selling “Off-Market” (3:51)

Christian shares two success stories! Woo-hoo!! Christian has a seller that is willing to list, but is also open to selling off-market to a private investor and avoiding the showings, phone calls, etc… What’s the best way to approach this? Chad and Bruce discuss.

See More: Listing Flat-Rate with MLS Opt-Out for Cash Offers

Real Estate Tips: Splitting Net Profits With A Vendor

Splitting Net Profits With A Vendor (7:36)

Christian is working on another sale where the investor wants to renovate the property and split the profits.The seller is the only heir.  There is a mortgage on the property.  How should Christian proceed to make sure everyone gets their fair share? Chad discusses using a land trust as a vehicle here.

Real Estate Deal Analysis: Probate Short Sale With A Fire-Damaged Property

Probate Short Sale With A Fire-Damaged Property (11:38)

Chelle is working with a seller who has a fire-damaged property in probate.  The mortgage is upside down and Chelle is trying to help the seller keep it from going into foreclosure. Chad, Jim, and Chelle discuss the deal and the importance of vacant property insurance. 

See More: Chad and Jim’s homeowner’s insurance trick for easing into the real estate conversation, or catching a lead who is about to hang up on you: Recommendations for home owner’s insurance companies

All The Leads Reviews: Rebel Goes On Five Listing Appointments

Rebel Goes On Five Listing Appointments (17:29)

Rebel and her team has gone on 5 listing appointments in the last two weeks.  One turned into a double listing. Another came from a letter she sent out her very first month working probate, and she got in her foot in the door by helping the personal representative with artwork they inherited. Rebel is looking at 6 listings! GO REBEL!!!

Real Estate Tips: Fumigation and Repairs For Death Odor Removal

Fumigation and Repairs For Death Odor Removal. (19:18 and 31:43)

Rebel is helping a family prepare a property for sale, but the house has a lingering death odor.  They’ve tried ripping up tile and replacing walls, but the smell still seems to be there. Jim and Rebel both note that you should help your seller see what their insurance covers, as many homeowner’s policies cover fumigation for situations like this.

Selling Artwork From An Estate

Selling Artwork From An Estate (21:12 and 25:45)

Rebel is helping a family sell artwork that was inherited through the estate of the decedent.  Chad shares his recommendations on where to sell specialty items as well as for companies that can help liquidate estate items quickly.

Attorneys Won’t Return My Call - How Can I Win Referral Relationships?

 

Attorneys Won’t Return My Call - How Can I Win Referral Relationships? (22:27)

Rebel is in a busy market and attorneys are not returning her calls.  Bruce shares what works for him in a busy market where Attorneys need to stumble into the value you provide for them to bite.

All The Leads Reviews: 3 Probate Listings Turned Into 5 Deals!

3 Probate Listings Turned Into 5 Deals! (26:52)

Jack shares a success story.  He has 3 probate listings turn into 5 total deals! Awesome!

Probate Credibility Websites and Why They’re Worth It

Probate Credibility Websites and Why They’re Worth It (27:33 and 46:24)

Jack is interested in setting up a separate probate website before he starts making his prospecting calls.  Chad describes the value in having a probate credibility website for social proof.  Chad shares how he incorporates his website into his letters as a final call to action.

All The Leads Reviews: $28k From My First Probate Dea

$28k From My First Probate Deal (33:51)

JoEllen got her first listing in August from her first round of letters.  She’s about to get a $28,000 commission check! Wooho!!!!!! JoEllen describes how she went from lead to listing to closing! With about 25k investment, JoEllen and her team took the property from $450k as-is to $710k at closing!  She has five more deals in the pipeline right now. JoEllen shares how she was able to put a team of vendors together really fast - Don’t let the fear of not having the team prevent you from getting started!

JoEllen and Chad discuss the intrinsic benefits that come with helping families through probate.

See More: Offering Sellers Vertically-Integrated Solutions Without Putting Your Own Capital On The Line.

LinkedIn For B2B Networking in Real Estate

LinkedIn For B2B Networking (40:38)

Ryan and Bruce discuss B2B marketing through LinkedIn and how it’s a fairly low-effort way to start a conversation with probate and estate planning attorneys in your market.


Chad and Ryan discuss how to leverage vacant insurance policies and find a lender that’s savvy.

 

Federico Shares Additional Insight on Vendor Networking, Websites

Federico Shares Additional Insight on Vendor Networking, Websites (44:54)

Federico shares additional insight on building a vendor team and earning referrals from these vendor partners. 
Jim Forsythe, Fed, and Chad also expand on website strategy from the conversation earlier in the call.

See More: 20-Minute Mastermind with Federico and the ATL Coaches

How to Get Started With Probate Leads: Certification Course

How to Get Started With Probate Leads (50:26)

Lynette is looking to jump into probate leads without running into analysis paralysis! She is pulling her own leads currently.  Chad describes why Probate Mastery is the perfect way to learn everything you need to know to succeed in the probate niche and perform at a high level.

 

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Episode Transcript

Transcript: Probate Mastermind Real Estate Podcast Episode #305

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

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

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David Pannell joins Chad Corbett to discuss his system for probate leads marketing, and offers his review of the All The Leads system

Most LUCRATIVE Real Estate Niches: PROBATE Wholesaling, Investing, and Listings – David Pannell’s Story | All The Leads Reviews

Finding The Most Lucrative Real Estate Niches: PROBATE REAL ESTATE

All The Leads reviews are my favorite content to share with Real Estate Agents and Real Estate Investors who are interested in the probate niche.  In this special hour-long webinar, David Pannell joins me to discuss all the chokepoints he came across when getting started in the probate niche, what motivated him to re-organize his team and dive into probate headfirst, and the incredible follow-up sequence his team has built around his probate leads in just one year’s time.  David ended up discovering probate is one of the most lucrative real estate niches, and probate leads are often some of the easiest deals out there.

“I live by Gratitude, so I will share with you everything we have failed on, discovered that works, and what we’re currently working on to get the most out of the probate leads…

…No lead purchased will fall through the cracks!”

-David Pannell

This video serves as a case study for David’s experience building a new pillar in his business through probate – He is projected (conservatively) to be making $1,000,000 a year by the end of 2019 through listings and acquisitions from PROBATE DEALS ALONE.  For anyone looking for ways to build their team, get their system organized, or really master your face-to-face presentations so you can land every deal whether you’re an agent, investor, or(and) a wholesaler, watch David discuss his story with Chad Corbett below!

 

GET PROBATE LEADS

 

Tenure: 1 year (Since June 2018)
Probate Closings To Date: 27
Total Commissions: $370k; $1,000,000 projected by close of Q4 2019.
Pipeline: 75+
ROI: 196% since starting; pacing 634% ROI for 2019.

Resources in this video:
ROI Calculator
Best Prospecting Script for Probate

Call Recap:

5:30 First time calling Probate Leads
6:05 2018 Total ROI from all lead types
7:37 My First Year in Probate Real Estate
8:56 Probate Leads Pipeline for 2019
9:26 What’s the split between broker/acquisitions deals?
9:50 Does this work in a competitive market?
10:20 What’s the spread?
10:45 Changing the way you present yourself
12:18 The fortune is in the follow-up
13:07 Getting the Cold-Calling right: Going from “Realtor, Investor, wholesaler” to David
13:40 Showing up to your listing appointments as a professional
15:11 The mindset: Go out and get it!
16:13 Competition from iBuyers and how to get ahead
22:08 The All The Leads Approach to Probate – Make it work for you
24:04 Why probate is great
24:47 Winning a listing appointmentwhen another realtor is there
27:40 What do we do with leads that don’t answer the phone?
30:45 One appointment, two guys, three options.
33:25 Bring pre-filled documents, leave a cash offer in hand…. ALWAYS!
37:12 The bottled water secret
38:30 How we found the right ISAs and built up our team
41:25 The perfect ISA for probate leads
48:43 Empathy = Lifelong referrals from clients and other business professionals
51:15 David’s system for prospecting probate
59:57 The Numbers
01:03:23 The Million Dollar Pillar in Probate

 


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.


David Pannell on YouTube
Get in touch with David


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.

 


Our Subscribers Always Say It Best …


USERS DESCRIBE ALL THE LEADS

 

 

 

 

 

Join over 10,000 Agents and Investors in Our Mastermind Group:

[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

Probate Leads - All The Leads Case Study - John Holtzinger

Probate Case Study – John Holtzinger – All The Leads Reviews

All The Leads reviews are my favorite content to share with Real Estate Agents and Real Estate Investors.  Every day we live our #1 core value – Provide Value First – to help others find success in doing the same.  We provide a full system to help our Subscribers meet their business goals but, more importantly, a system that offers a huge impact in hundreds of communities to thousands of people every month across the US.

I’m thrilled to have finally captured John’s story on camera so you guys can see the potential of becoming the Probate Expert in your market!


“One of the things that attracted us to All The Leads in the first place was the fact it was a comprehensive lead source system, training, and integration with the Vulcan7 dialer ”
– John Holzinger


Now, we ARE all running a business so it’s not always about “the feels” and emotions…sometimes it IS about dollars.  Serving as a Probate Expert can certainly make a difference in the lives of others but the value provided can also result in a 10x or greater return.  As you will see in the video, in 31 months using our system, John has sold 7 listings, purchased 3 properties on our own, and with his team investing $8,000 annually they have seen a 10x ROI!!!

 

Tenure:  31 months

Probate Closings: 7 listings sold, 3 purchased properties

Total Cost: $20,000

Total Commissions: $200,000+

 

See more Case Studies and All The Leads reviews from our Subscribers HERE

 

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.

 


Our Subscribers Always Say It Best …


USERS DESCRIBE ALL THE LEADS

 

 

 

 

 

Join over 10,000 Agents and Investors in Our Mastermind Group:

[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

Probate Case Study – Michelle Knobloch – All The Leads Reviews

All The Leads reviews are my favorite content to share with Real Estate Agents and Real Estate Investors.  Every day we live our #1 core value – Provide Value First – to help others find success in doing the same.  We provide a full system to help our Subscribers meet their business goals but, more importantly, a system that offers a huge impact in hundreds of communities to thousands of people every month across the US.

I’m thrilled to have finally captured Michelle’s story on camera so you guys can see the potential of becoming a Probate Expert in your market.  Her opening line says it all…


“All I can say is, it has brought so much joy and peace to be able to do what I do; becoming a specialist in this area.  The lives that we’ve touched, the difference that it’s made, it really is a blessing and we are all passionate about changing lives and making a difference.”
– Michelle Knobloch


Now, we ARE all running a business so it’s not always about “the feels” and emotions…sometimes it IS about dollars.  Serving as a Probate Expert can certainly make a difference in the lives of others but the value provided can also result in a 10x or greater return.  As you will see in the video, Michelle has invested $6,382 to make $61,042 in her first three years as a Probate Expert, which yielded a return on investment of 856.47%

 

Tenure:  3 Years

Probate Closings: 23

Total Cost: $6,382

Total Commissions: $61,042

Pipeline:  6

 

See more Case Studies and All The Leads reviews from our Subscribers HERE

 

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.