Latest / All The Leads Mastermind Podcast / The Golden Opportunity in Probate Real Estate | Probate Mastermind Podcast #308

Transcript

The Golden Opportunity in Probate Real Estate | Probate Mastermind Podcast #308 · All The Leads Mastermind Podcast

• 0:00
  A.I. Voice Narration: Welcome to the Probate Mastermind Podcast.
• 0:03
  A.I. Voice Narration: These episodes are recorded live once a week and are hosted by the AllTheLeads.com coaches.
• 0:08
  A.I. Voice Narration: 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.
• 0:20
  A.I. Voice Narration: You will learn to get more listings, more deals and find financial freedom by listening to these episodes.
• 0:25
  A.I. Voice Narration: Be sure to catch show notes at AllTheLeads.com/podcast and join our free Facebook mastermind community:
• 0:32
  https: //facebook.com/groups/AllTheLeadsMastermind
• 0:33
  Jim Sullivan (Host/Coach): Welcome prolific agents and investors from across the country.
• 0:38
  Jim Sullivan (Host/Coach): Today is Thursday, December 17th, 2020.
• 0:43
  Jim Sullivan (Host/Coach): And this is Mastermind Podcast number 308.
• 0:47
  Jim Sullivan (Host/Coach): Just a little housekeeping before we get started.
• 0:49
  Jim Sullivan (Host/Coach): we do this.
• 0:50
  Jim Sullivan (Host/Coach): Pretty much every week of the year, the next two weeks will be Christmas Eve and new year's Eve.
• 0:56
  Jim Sullivan (Host/Coach): So we're going to take a little bit of a break and we will return on Thursday.
• 1:01
  Jim Sullivan (Host/Coach): January 7th will be our next regularly scheduled call.
• 1:05
  Jim Sullivan (Host/Coach): We will be here working virtually every day.
• 1:07
  Jim Sullivan (Host/Coach): So as always, if you ever need us, just, email us support@alltheleads.com.
• 1:12
  Jim Sullivan (Host/Coach): And I mentioned, we have a special treat.
• 1:14
  Jim Sullivan (Host/Coach): I'm going to go ahead and unmute bill.
• 1:17
  Jim Sullivan (Host/Coach): Bill.
• 1:18
  Jim Sullivan (Host/Coach): Are you there?
• 1:18
  Jim Sullivan (Host/Coach): Yes, I'm here.
• 1:19
  Jim Sullivan (Host/Coach): Mr.
• 1:20
  Jim Sullivan (Host/Coach): Bird.
• 1:20
  Jim Sullivan (Host/Coach): I give you a little bit of an intro.
• 1:23
  Jim Sullivan (Host/Coach): Bill, you have been with us since March of 2015.
• 1:26
  Jim Sullivan (Host/Coach): If you're not our longest subscriber, you're certainly one of them.
• 1:30
  Jim Sullivan (Host/Coach): And, bill reached out to me this week to share some success with probate.
• 1:34
  Jim Sullivan (Host/Coach): Plus, I want them to talk about that a little bit, but I also would like for him to touch on a couple other things, we.
• 1:41
  Jim Sullivan (Host/Coach): It bill is either very busy agent.
• 1:43
  Jim Sullivan (Host/Coach): I know you listened to these on our podcast or on YouTube, but you rarely make it to a call.
• 1:49
  Jim Sullivan (Host/Coach): I can't tell you how many times a year we have agents ask about, should I call the executors or the attorneys or they ask about, calling when the executor and the attorney is one in the same and you've probably done a better job of that.
• 2:03
  Jim Sullivan (Host/Coach): then anybody that you know, that we've had over the last six years, you've really made a career out of it.
• 2:08
  Jim Sullivan (Host/Coach): So I guess let's start at the, let's start at the end and work our way back.
• 2:12
  Jim Sullivan (Host/Coach): You had, reached out to me, us, we build to, give some feedback on probate plus you want to start with that?
• 2:18
  Jim Sullivan (Host/Coach): Yeah.
• 2:18
  Bill Byrd: Yes I would.
• 2:19
  Bill Byrd: But first I'd just like to, thank you.
• 2:21
  Bill Byrd: And Chad were.
• 2:22
  Bill Byrd: the last five years has been amazing.
• 2:24
  Bill Byrd: You guys have always been there when I needed you and Chad, every time I send him some new marketing thing, I never get a 10, but if you get a seven out of Chad, add a one to 10.
• 2:35
  Bill Byrd: You're doing good.
• 2:36
  Bill Byrd: So lately I've been averaging some seven, so thank you.
• 2:39
  Bill Byrd: Thank you.
• 2:39
  Bill Byrd: You're very welcome.
• 2:40
  Bill Byrd: I, my pleasure.
• 2:41
  Bill Byrd: yeah, so I'm a big advocate of Chad, I just, he really helped my business.
• 2:45
  Bill Byrd: You all have, but in his fast start program back then, which is not even close to what it is now, but yeah, that really made an impact on me.
• 2:53
  Bill Byrd: So I never believed in scrubbing leads, pull, I'm calling you soon as I get the lead, I'm calling my letters.
• 3:01
  Bill Byrd: All my campaign is based on after I've called you the first time.
• 3:05
  Bill Byrd: and so I never believed in it, but I thought, I'm just going to try this probate plus, and damn it worked so well.
• 3:11
  Bill Byrd: It like cleaned up my time on the phone.
• 3:14
  Bill Byrd: And, the biggest thing is I would have never have known this particular client.
• 3:19
  Bill Byrd: I'm going to leave their names out where they are out.
• 3:21
  Bill Byrd: They have 12 properties and I'm meeting with them the first of the year to discuss all 12 properties and selling all 12 properties, and I have always, never assumed they just have one property itself, but I was like, man, this is just amazing how much probate plus really helped me out on my time table.
• 3:42
  Bill Byrd: And it also brings you back to the memories of work.
• 3:45
  Bill Byrd: All the leads.
• 3:45
  Bill Byrd: When I used to drive to Sonoma County recorder, I would drive to Morin.
• 3:50
  Bill Byrd: I would drive to San Francisco to get the list of who passed away back then.
• 3:56
  Bill Byrd: it's just been an amazing journey with you guys and.
• 3:59
  Bill Byrd: I really appreciate how you guys have continually updated.
• 4:02
  Bill Byrd: I know this kinda sounds like, a conversation fairy land, but it's the truth.
• 4:06
  Bill Byrd: if anyone knows my story in 2010, my family was.
• 4:11
  Bill Byrd: Broke no money.
• 4:13
  Bill Byrd: always worried about the PGE bill falling off.
• 4:16
  Bill Byrd: I used to guard people for $15 an hour.
• 4:20
  Bill Byrd: I used to clean job sites for$20 so that I could just buy enough food for the day, which consisted of milk Cheerios.
• 4:30
  Bill Byrd: A loaf of bread and baloney.
• 4:32
  Bill Byrd: And that's what my kids pretty much ate for the first six months.
• 4:34
  Bill Byrd: being broke maybe a little longer, but my point being, I'm just wanting to say, thank you guys so much, and I appreciate probate plus.
• 4:41
  Bill Byrd: Thank you bill.
• 4:42
  Bill Byrd: And for anyone who didn't see our case study video was still a Katt will link to that in the show notes, but you can search for that on all the leads.com, just search B Y R D.
• 4:53
  Bill Byrd: And it should bring up that post, but you'll see, Bill's not living off of a Cheerio's anymore.
• 4:59
  Bill Byrd: Really, I think you're a little too modest to toot your own horn here.
• 5:02
  Bill Byrd: So I'm going to do it for you, but he's built this into a seven figure business with insanely high margins and taken it a long way.
• 5:10
  Bill Byrd: So they'll thank you for sharing all that.
• 5:12
  Chad Corbett (Coach): And secondly, if you have probate plus as a relatively new product, we always have new folks on this call each week.
• 5:19
  Chad Corbett (Coach): Like what the heck is probate plus?
• 5:21
  Chad Corbett (Coach): you can go to alltheleads.com/probateplus, and the full description there, but it's basically a proprietary data augmentation that you have that gives you all the real estate information.
• 5:33
  Chad Corbett (Coach): So not only, real estate held in the name of the decedent, but also in trust, also an entity, out of state, we scrub 3,149 different counties.
• 5:45
  Chad Corbett (Coach): So we're more than looking in your local MLS or your local courthouse.
• 5:49
  Chad Corbett (Coach): We're finding anything the decedent may have owned anywhere in the country.
• 5:52
  Chad Corbett (Coach): and you can learn more about that.
• 5:53
  Chad Corbett (Coach): It's alltheleads.com/probateplus and you'll see on there.
• 5:57
  Chad Corbett (Coach): And bill, I'm curious to see if you've tracked your numbers, but.
• 6:01
  Chad Corbett (Coach): In beta.
• 6:01
  Chad Corbett (Coach): When we were testing this with the groups, we found that it cut marketing costs by about 45%.
• 6:07
  Chad Corbett (Coach): So that is the time and money that you spend on your marketing efforts.
• 6:11
  Chad Corbett (Coach): By focusing only on those, I prioritizing the ones that have real estate people were able to save about 45%.
• 6:18
  Chad Corbett (Coach): have you tracked your marketing savings?
• 6:20
  Chad Corbett (Coach): No, not yet, but what I will, what I have tracked is my phone.
• 6:24
  Chad Corbett (Coach): Time, and it has definitely cut a third out of my phone time.
• 6:28
  Chad Corbett (Coach): Which has been great because I really want to continue to expand into divorce, which a lot of people don't seem to get that.
• 6:39
  Chad Corbett (Coach): when you deal in probate, it's normally a family attorney.
• 6:43
  Chad Corbett (Coach): What does family or estate attorneys do?
• 6:45
  Chad Corbett (Coach): They also deal with divorce and I'm consistently trying to evolve that we're coming out the new website about that.
• 6:54
  Chad Corbett (Coach): We're also coming up to a brochure.
• 6:57
  Bill Byrd: I really enjoyed the call where you guys were talking about being the solutions to their problems before they know they have a problem.
• 7:06
  Bill Byrd: And that has been really great.
• 7:08
  Bill Byrd: And then also there's some new tax laws.
• 7:10
  Bill Byrd: Now, I don't know how these tax laws got passed because I don't know of anybody that voted for them, but that's really creating some opportunities, with, probate, the fact that you can't carry over.
• 7:21
  Bill Byrd: The tax basis, next year of someone that has passed away.
• 7:24
  Bill Byrd: when people say to you and, th there is a five responses you normally get, and one of them is, I'm going to rent it out.
• 7:30
  Bill Byrd: now you can say, Hey, very well, maybe I'm the right decision, but I'm just curious.
• 7:35
  Bill Byrd: Did you know what path in 2020, where you can't, carry over your parents, property tax bases.
• 7:42
  Bill Byrd: So that means their property taxes are going from like 3000 a month to 20,000 a month.
• 7:48
  Bill Byrd: 3000 a year to 20,000 a year.
• 7:50
  Bill Byrd: Wow.
• 7:51
  Bill Byrd: Very impactful.
• 7:52
  Bill Byrd: If you texted me back, I didn't see it.
• 7:54
  Bill Byrd: could you send me a link to that on a better.
• 7:56
  Bill Byrd: And for anyone who doesn't understand the tax implications of inheriting real estate, which you look up the step up basis, so step up basis and that'll help you understand, apparently that's going away in California, but that's not the case in every state.
• 8:12
  Bill Byrd: So that's one big X-Factor like bill is one of those, like the good example out being empathetic to their position and truly, yeah.
• 8:21
  Bill Byrd: Acting in their best interest before they've even give you, given you enough opportunity will attract business that you hadn't been competition when you do it at this level.
• 8:29
  Bill Byrd: So bill you have an early 20, 21 campaign just on that one thing, To go and say, Hey, here's, what's changing.
• 8:36
  Bill Byrd: And here's how it affects you.
• 8:37
  Bill Byrd: correct.
• 8:38
  Bill Byrd: Correct.
• 8:38
  Bill Byrd: And just waiting for the final writeup and I'll send you that where it's at right now, and then the last thing I really want to say is through probate and doing a good job and by offering the solutions, there are some attorneys that want to handle the painting, handle the stage Jean, because they're billing.
• 8:58
  Bill Byrd: the state for that.
• 8:59
  Bill Byrd: So you've gotta be smart.
• 9:00
  Bill Byrd: Fair enough to back away on that.
• 9:02
  Bill Byrd: But then there's other ones where we do all that.
• 9:04
  Bill Byrd: and judges, depending on how the trust or the will structured see that, and that has led to some, direct referrals from judges on divorces in hand.
• 9:15
  Bill Byrd: I've also gotten divorces because normally by the time the lawyer is thinking.
• 9:21
  Bill Byrd: I got to find a real estate agent for these people because they can't agree on anything.
• 9:25
  Bill Byrd: he wants a realtor that is going to do everything.
• 9:28
  Bill Byrd: Painting, staging, clearing the house out.
• 9:31
  Bill Byrd: You name it.
• 9:32
  Jim Sullivan (Host/Coach): That's great.
• 9:33
  Jim Sullivan (Host/Coach): you built a and bill, we refer to you a lot on, early on, I think 2015, 2016, you realized that some of your best leads were the ones where the attorney and the executor were one in the same.
• 9:46
  Jim Sullivan (Host/Coach): They were professional administrators.
• 9:47
  Jim Sullivan (Host/Coach): And you did a, how many of how you connected with these guys who make a living of handling estates?
• 9:53
  Jim Sullivan (Host/Coach): And you've really established a steady referral from them, correct?
• 9:56
  Jim Sullivan (Host/Coach): Yeah.
• 9:57
  Jim Sullivan (Host/Coach): Yeah.
• 9:57
  Bill Byrd: Yeah.
• 9:57
  Bill Byrd: I get, somewhere between six and seven deals from, either accountants that have that business or attorneys that have that business.
• 10:05
  Bill Byrd: The hardest ones to break into are the banks because they didn't want to favor anybody.
• 10:09
  Jim Sullivan (Host/Coach): Exactly.
• 10:10
  Jim Sullivan (Host/Coach): Yeah.
• 10:11
  Jim Sullivan (Host/Coach): And I think you had shared that story with us before, where you had appeared before the same judge, numerous times for a probate case.
• 10:18
  Jim Sullivan (Host/Coach): And when the divorce came up, And they couldn't agree on what realtors, I think the judge ordered them to list the property with you.
• 10:24
  Jim Sullivan (Host/Coach): If I remember correctly, it was something like that, correct?
• 10:27
  Bill Byrd: Yeah.
• 10:28
  Bill Byrd: Yeah.
• 10:28
  Bill Byrd: David.
• 10:28
  Bill Byrd: Exactly correct.
• 10:29
  Bill Byrd: Yeah.
• 10:30
  Bill Byrd: Yeah.
• 10:30
  Bill Byrd: That's exactly.
• 10:30
  Bill Byrd: Yeah.
• 10:31
  Bill Byrd: that's awesome.
• 10:32
  Bill Byrd: That's great.
• 10:32
  Bill Byrd: One other thing I did want you to share with the group and I appreciate it.
• 10:35
  Bill Byrd: I know you have to get off to a listing appointment, or I know you had something to do.
• 10:39
  Bill Byrd: That's why we put your first, you shared with me on the phone, some recent deals that you are working on, they came from, I think one of them came from a three-year-old lead.
• 10:49
  Bill Byrd: I think you had shared with us how you and I love you analogy of the fishing hole in your front yard, if you would share that with everybody.
• 10:56
  Bill Byrd: Yeah.
• 10:56
  Bill Byrd: Yeah.
• 10:57
  Bill Byrd: to me, all the leads has been like stocking a basketball on, right?
• 11:01
  Bill Byrd: Yeah.
• 11:02
  Bill Byrd: whether you realize it or not, you're going to get.
• 11:04
  Bill Byrd: Future business.
• 11:05
  Bill Byrd: You're gonna stock in it with 1500 leads every month.
• 11:09
  Bill Byrd: I don't know how many exact leads are in my database, but I know it's in that the thousands.
• 11:14
  Bill Byrd: So I talked to this lady three years ago, about selling or her home, her husband passed.
• 11:21
  Bill Byrd: And you always have to walk into those leads when you see the same address, for the executor or who's managing this state, there's a person that passed away.
• 11:31
  Bill Byrd: Can I got to walk in there lightly.
• 11:32
  Bill Byrd: So I did.
• 11:33
  Bill Byrd: And, I've just talked to her every six months.
• 11:36
  Bill Byrd: And so back in October, she says, I'm ready to sell to 2.2, $5 million house.
• 11:42
  Bill Byrd: We're closing on Monday on that.
• 11:43
  Bill Byrd: the other thing that I think people lose sight of is just because you don't get the listing on the probate.
• 11:51
  Bill Byrd: That does not mean there's not a deal there.
• 11:53
  Bill Byrd: Your investor could buy it.
• 11:55
  Bill Byrd: Or if you hang in there with the, the seller and say, Oh, okay, I understand I didn't get the listing.
• 12:01
  Bill Byrd: That's great.
• 12:02
  Bill Byrd: I'm really glad you have somebody that's going to help you.
• 12:04
  Bill Byrd: I'm curious who you chose sometimes I'll give it to you.
• 12:07
  Bill Byrd: Sometimes they won't on this particular one.
• 12:11
  Bill Byrd: the person that had passed away, she had written in the realtor in her.
• 12:14
  Bill Byrd: Will.
• 12:15
  Bill Byrd: So anyway, so I called him and soon as that house came on the market, cause he wouldn't let me in early.
• 12:20
  Bill Byrd: My client was the first one there and we were out and above asking price.
• 12:25
  Bill Byrd: And it was really hard to get a home on the water in my area.
• 12:28
  Bill Byrd: and that's just goes to show you that you've got to look at this in, this is an opportunity how you use it is not just one way, right?
• 12:38
  Bill Byrd: It could be a lead in this.
• 12:39
  Bill Byrd: It could be a deal in the future.
• 12:41
  Bill Byrd: You could have a buyer for it.
• 12:42
  Bill Byrd: you might be able to cause I'm a big believer in advocate.
• 12:46
  Bill Byrd: They might need painters.
• 12:47
  Bill Byrd: They might need different people.
• 12:49
  Bill Byrd: And so now you're bringing in your painter, you're giving him a job and he knows that you sent him that job.
• 12:56
  Bill Byrd: and there's going to be some gratitude to there.
• 12:58
  Bill Byrd: And I just, I absolutely believe you cannot help other people too much, and you have to be grateful and have gratitude for any opportunity to help another person.
• 13:08
  Chad Corbett (Coach): The other things, like I imagine they're going to have two and a quarter million dollars in liquidity.
• 13:13
  Chad Corbett (Coach): Maybe they're a private lender.
• 13:14
  Chad Corbett (Coach): Maybe if they keep a property, you get them over to a community bank lender.
• 13:19
  Chad Corbett (Coach): I have them take the house in inheritance, get a tenant in place, go to a community bank, do a cash out refi, take that money and loan it out to your investors or go sell a rental portfolio.
• 13:30
  Chad Corbett (Coach): Like just because you don't get what your desired outcome doesn't mean a damn thing in this situation.
• 13:37
  Chad Corbett (Coach): If you can focus on the needs of the family and show them ways, show them things, teach them things that no, and they'll spill.
• 13:44
  Chad Corbett (Coach): Here's how you double your money every four years by loaning holding it to real estate investors right here in town.
• 13:50
  Chad Corbett (Coach): Here's how you use community bank financing, portfolio financing to create, leverage, and build a real estate empire of your own.
• 13:58
  Chad Corbett (Coach): and you'll get 12 deals off of that buyer base because you show them how to leverage the inheritance that they get.
• 14:04
  Chad Corbett (Coach): So it's being empathetic.
• 14:05
  Chad Corbett (Coach): I want them to really drive Bill's point home, like being empathetic to what their needs are and also what their blind spots are.
• 14:13
  Chad Corbett (Coach): We'll show you ways to service these people at a level like you'll create wealth faster than you can ever imagine because you're helping enough people get what they want and putting their interests first.
• 14:23
  Chad Corbett (Coach): So thanks for that bill.
• 14:25
  Chad Corbett (Coach): And very well, Bruce, go ahead.
• 14:26
  Chad Corbett (Coach): You had a comment, sorry.
• 14:28
  Bruce Hill (Coach): Hey bill.
• 14:28
  Bruce Hill (Coach): for those of you that don't know Bill and I used to coach for a real estate company together, back in the day, so long, a long time.
• 14:35
  Bruce Hill (Coach): No talk.
• 14:36
  Bruce Hill (Coach): so one of the things that I liked, what you just said is, is the analogy of the back pond in stocking the back on which goes to a point that I frequently make to people is the reason that I've always loved probate so much is, in normally, California might be a little bit longer, but normally six, seven months, most of these families are going to be ready to do something and some even longer than that.
• 14:59
  Bruce Hill (Coach): And if you are good at follow-up.
• 15:02
  Bruce Hill (Coach): And you're empathetic.
• 15:04
  Bruce Hill (Coach): You're understanding you're not a pushy person in six or seven months.
• 15:07
  Bruce Hill (Coach): You're going to be the only person in Bill's case three years on this lead.
• 15:11
  Bruce Hill (Coach): You're the only person that they're considering.
• 15:14
  Bruce Hill (Coach): Cause you've had a really long runway to build a brand, of empathy and health.
• 15:19
  Bruce Hill (Coach): And for those of you that are listening right, are looking at a month or two months to get business.
• 15:26
  Bruce Hill (Coach): You're going to get some of that as well.
• 15:28
  Bruce Hill (Coach): But if you can take the long approach with this and build a relationship, nobody else is going to do it.
• 15:34
  Bruce Hill (Coach): You're going to stand alone as the only person that these families and these personal representatives are ever going to bring their business to.
• 15:40
  Jim Sullivan (Host/Coach): Well said, bill, we can't.
• 15:42
  Jim Sullivan (Host/Coach): Thank you enough.
• 15:43
  Jim Sullivan (Host/Coach): I know you got to go.
• 15:44
  Jim Sullivan (Host/Coach): If you're able to hang in there for a minute or two, maybe some people have some other questions.
• 15:48
  Jim Sullivan (Host/Coach): Is there any other, I know you listened to us on YouTube and you listen to our calls you said every Thursday morning at seven o'clock, it's part of your schedule.
• 15:55
  Jim Sullivan (Host/Coach): I love that, but boy, if you could just come on once a year, we appreciate it.
• 15:59
  Jim Sullivan (Host/Coach): It give us updates.
• 16:01
  Jim Sullivan (Host/Coach): I think he helped us.
• 16:01
  Jim Sullivan (Host/Coach): I think he helped a lot of people on this call.
• 16:03
  Jim Sullivan (Host/Coach): any other words of wisdom before we let you go?
• 16:06
  Bill Byrd: there's a book called the generosity generation.
• 16:09
  Bill Byrd: It's called seven now.
• 16:10
  Bill Byrd: I really recommend everybody reading that.
• 16:12
  Bill Byrd: It's something that Chad, had mentioned to me, five years ago.
• 16:16
  Bill Byrd: And then there's also, a YouTube.
• 16:19
  Bill Byrd: channel it's Chris Catalini.
• 16:22
  Bill Byrd: It's C a V a L I a N I, he's got a great, YouTube video that came out about good manners, proper etiquette.
• 16:32
  Bill Byrd: And being a good person and having gratitude.
• 16:35
  Bill Byrd: I think that's really where we need to be as real estate agents, especially as we're heading into forbearance.
• 16:41
  Bill Byrd: Hell of exactly how all that's going to work.
• 16:44
  Bill Byrd: Yeah.
• 16:44
  Bill Byrd: very well said, my friend.
• 16:45
  Bill Byrd: Thank you.
• 16:46
  Bill Byrd: you are the ultimate example of the culture that we try to teach, and I really appreciate you contributing.
• 16:52
  Bill Byrd: Thanks for being here.
• 16:53
  Bill Byrd: My pleasure.
• 16:53
  Jim Sullivan (Host/Coach): All right.
• 16:54
  Jim Sullivan (Host/Coach): we do have a few other patient people in the queue that have been waiting.
• 16:57
  Jim Sullivan (Host/Coach): So let's go to our first, our second caller this week, his phone number ending in zero three zero nine you're up next, Hey guys, how are you guys doing today?
• 17:07
  Jim Sullivan (Host/Coach): Great.
• 17:07
  Jim Sullivan (Host/Coach): How are you, sir?
• 17:08
  Caller 1: Good.
• 17:08
  Caller 1: Good.
• 17:09
  Caller 1: I came across an issue when I actually made sure obviously every deal going to require some creativity.
• 17:14
  Caller 1: The personal representative doesn't have a good relationship with his uncle.
• 17:18
  Caller 1: Neither does the mom either.
• 17:20
  Caller 1: There's only two heirs.
• 17:21
  Caller 1: And it doesn't sound like they like each other at all.
• 17:23
  Caller 1: Unfortunately, what would be the best way to handle it?
• 17:26
  Caller 1: Is it best to call the uncle and try to talk to them?
• 17:29
  Caller 1: Or is it best to have the attorneys deal with?
• 17:31
  Caller 1: There will be the ideal case.
• 17:33
  Chad Corbett (Coach): So is he as the uncle an heir?
• 17:35
  Caller 1: That is correct.
• 17:36
  Chad Corbett (Coach): Is there a will or it's intestate?
• 17:38
  Chad Corbett (Coach): I don't think there's a will.
• 17:39
  Chad Corbett (Coach): I didn't ask that question.
• 17:41
  Chad Corbett (Coach): So that's good to know.
• 17:42
  Chad Corbett (Coach): So it's, I think it's important that you understand that the personal representative doesn't have to have any contact.
• 17:48
  Chad Corbett (Coach): Your uncle doesn't necessarily have a say in this, the personal rep, the nephew is the fiduciary and they assume the liability that.
• 17:55
  Chad Corbett (Coach): It's their job to preserve and maximize the value of the asset and then distribute according to state succession laws there as well.
• 18:02
  Chad Corbett (Coach): So if it goes sideways.
• 18:04
  Chad Corbett (Coach): Just understand the uncle doesn't have to be in the picture.
• 18:07
  Chad Corbett (Coach): He can't dictate what gets done.
• 18:09
  Chad Corbett (Coach): Now that said, we always try to go the diplomatic route.
• 18:12
  Chad Corbett (Coach): This is, we want to reduce stress for the family and improve their situation.
• 18:16
  Chad Corbett (Coach): So I would recommend you reach out to the uncle and you handle this more like a divorce case, where you actually become a friendly intermediary.
• 18:24
  Chad Corbett (Coach): And you might have like good cop, bad cop.
• 18:26
  Chad Corbett (Coach): If you're not familiar with that as a negotiation tactic, I would go whenever you can on that.
• 18:32
  Chad Corbett (Coach): But you may have to, their ego may want to spew out some of the other party and you may have to listen.
• 18:37
  Chad Corbett (Coach): You don't have to have that one day.
• 18:38
  Chad Corbett (Coach): I'm an intermediary and give the uncle of voice so he won't become a problem.
• 18:42
  Chad Corbett (Coach): But if he does become a problem, it's really probably not going to prohibit you guys from achieving what the state needs to achieve.
• 18:49
  Caller 1: Okay.
• 18:50
  Caller 1: I do know that the nephew said based on the conversations the attorney's been having, that the uncle wants the most money for the property that I do know.
• 18:58
  Caller 1: So it sounds like he's on board, on selling.
• 18:59
  Caller 1: It's just a matter of them agreeing.
• 19:02
  Caller 1: Let me ask you this, then there's two heirs.
• 19:04
  Caller 1: Do we need both signatures on the heirs to sign the listing agreement or is it more, or the PR is more than sufficient to sign?
• 19:11
  Chad Corbett (Coach): As long as the PR has the letters testamentary, all you need is their signature on the listing agreement.
• 19:17
  Caller 1: Okay.
• 19:18
  Caller 1: That makes sense.
• 19:18
  Caller 1: Okay.
• 19:19
  Caller 1: Cool.
• 19:19
  Caller 1: Alrighty, anything else?
• 19:20
  Caller 1: That's what I have.
• 19:21
  Caller 1: That's it for today.
• 19:22
  Caller 1: Thank you so much.
• 19:23
  Jim Sullivan (Host/Coach): All right.
• 19:24
  Jim Sullivan (Host/Coach): Thank you.
• 19:24
  Jim Sullivan (Host/Coach): Next up is phone five five, two, three.
• 19:27
  Jim Sullivan (Host/Coach): You're up next.
• 19:28
  Isaac: Hi, how are you?
• 19:29
  Isaac: my name is Isaac Israel of, I live in Rockland County, New York, about 45 minutes North of New York city.
• 19:36
  Isaac: I've done many things, in the real estate, including, residential brokering, like 2004, 2007, since 2010, till about now, I've been doing commercial real estate brokering as well as now, embarking on investment.
• 19:51
  Isaac: Thing.
• 19:51
  Isaac: one of the things that I wanted to, do is flip fix and flipping and wholesaling.
• 19:57
  Isaac: I never had a good system and I somehow through Facebook found out about All The Leads.
• 20:02
  Isaac: This is my first time on the call.
• 20:03
  Isaac: I heard a lot of good information now on this call.
• 20:06
  Isaac: I want to know what's the best way for me to be able to start getting access to the leads as well as maybe some support, if there is.
• 20:16
  Isaac: Or, what's my best way to get started right now.
• 20:19
  Isaac: as they say, it was a lot of debt and, and the most money to invest is just living month to month with everything that's going on, but I needed that system.
• 20:28
  Isaac: And if you could give me more information, advice, I would appreciate it.
• 20:32
  Isaac: I have to have a partner which we're partnering on the motel now where we doing it, trying to flip it, but that's different things he might want to get in with me also.
• 20:41
  Isaac: I think I'm better off doing it on my own.
• 20:44
  Isaac: So what that's required.
• 20:46
  Jim Sullivan (Host/Coach): Yeah, every County is different and I will have someone reach out to you right after the call.
• 20:50
  Jim Sullivan (Host/Coach): and as far as what can you do to be successful with this figure out what all the other investors are doing and do the opposite there.
• 20:57
  Jim Sullivan (Host/Coach): If any of them are even contacting these people, they're just saying, Hey, I can buy your home for cash.
• 21:03
  Jim Sullivan (Host/Coach): you want to be like, Bill just said, you want to offer the multiple solutions.
• 21:07
  Jim Sullivan (Host/Coach): don't come at it as much as an investor, as I'm a probate expert that specializes in helping people and there's a lot of different ways I can help you.
• 21:16
  Jim Sullivan (Host/Coach): You'll be amazed how that will gain their trust and that'll help get your foot in the door.
• 21:20
  Jim Sullivan (Host/Coach): Get the conversation started.
• 21:22
  Jim Sullivan (Host/Coach): And one of the things you do want to do, if you're not a realtor, have a good realtor on your team.
• 21:26
  Jim Sullivan (Host/Coach): That you can refer the ones too, because some of these are going to be great, buy and flips, and a lot of them are just going to be motivated listings.
• 21:34
  Jim Sullivan (Host/Coach): So you want to have a great realtor on your team that you can refer the people to that, that are in a, any kind of distress and, want closer to retail price.
• 21:43
  Jim Sullivan (Host/Coach): Anything you want to add to that Chad or Bruce?
• 21:45
  Jim Sullivan (Host/Coach): Go ahead.
• 21:45
  Jim Sullivan (Host/Coach): Yeah.
• 21:46
  Isaac: Or maybe get my own light, my license restored, and then also partake in that aspect.
• 21:51
  Chad Corbett (Coach): Yeah, that was going to be my advice.
• 21:52
  Chad Corbett (Coach): having experience in residential brokerage in commercial brokerage, I have to assume that you've learned how to recruit, because you've been the broker.
• 21:59
  Chad Corbett (Coach): So I think one of the paths of least resistance and the highest ROI for you is probably to reactivate your license, recruit an agent onto your team, to mentor and train into the space.
• 22:10
  Chad Corbett (Coach): And have them, just like in commercial real estate, have them split some of that cost with you, make your broker work for you, but the idea how that works.
• 22:20
  Isaac: So you just, expand on that.
• 22:22
  Isaac: Do you mean that like I should become an agent with exp and then recruit under me?
• 22:27
  Isaac: Or are you referring to recruit in probate listings?
• 22:30
  Chad Corbett (Coach): When you said before you were a residential broker commercial broker, isn't that right?
• 22:35
  Chad Corbett (Coach): I meant agents, not like broker that I have agents.
• 22:39
  Chad Corbett (Coach): Yeah.
• 22:39
  Chad Corbett (Coach): even, so you can partner with another agent and have them do that side.
• 22:44
  Chad Corbett (Coach): If that's not what you want it to, and you can also have them subsidize your lead costs, your marketing cost.
• 22:49
  Chad Corbett (Coach): You guys can, joint venture on that.
• 22:51
  Chad Corbett (Coach): So if you're in a tight cashflow position, you may start out by saying, Hey, listen, we'll split these 50 50, but we're also going to split the cost 50 50 and, find the person you can trust and set proper expectations from the beginning of what a, an investor deal is and means for you and what a brokerage deal is a means for them and you guys can collaborate.
• 23:11
  Chad Corbett (Coach): But any rate, however you end up entering the market, what Jim was saying, this is your first phone.
• 23:16
  Chad Corbett (Coach): There are almost 700 hours of conversations like this archives and accessible to you have to really dig into that and understand the culture we created and how building a team around yourself to attract the business well, greatly differentiate you.
• 23:32
  Chad Corbett (Coach): So you ultimately spend less on marketing than other ones, people, and you get a much higher ROI.
• 23:37
  Chad Corbett (Coach): and learn a little bit more about what we offer and how we train people to do this.
• 23:41
  Chad Corbett (Coach): and you may see opportunities too.
• 23:43
  Chad Corbett (Coach): monetize some of the vendor relationships.
• 23:45
  Chad Corbett (Coach): I don't normally really recommend that for folks because it just means you're tracking a whole bunch of tiny pieces of revenue.
• 23:52
  Chad Corbett (Coach): And it's usually not the best dollar productive activity, but if it's a barrier, if cost is a barrier to entry, it is a way that you can get referrals from painters, photographers, home, stagers, you name all the people that you can bring into the transaction.
• 24:06
  Isaac: But, it's, the other thing is how are they helpful or the photographers and what not for leads?
• 24:12
  Chad Corbett (Coach): So for example, if you pay for the leads the first month, then you don't have enough cash to pay for them the second month, but you believe in this and your heart's in it, in that first.
• 24:22
  Chad Corbett (Coach): list, you can find somebody who needs help, who needs a painter who needs a senior moving company, an estate sale, know who needs a state plan,
• 24:29
  Bruce Hill (Coach): I'll jump in on that, Jim, what Chad was saying, it's something that I've done in my business and I, actually his advice about taking on an equity partner in the probate space is exactly what I did in my business is I brought in a partner.
• 24:43
  Bruce Hill (Coach): I handle the marketing and the attorney relationships.
• 24:46
  Bruce Hill (Coach): He handles the phone calls and the listing appointments.
• 24:49
  Bruce Hill (Coach): We split commissions 50 50.
• 24:51
  Bruce Hill (Coach): We also split costs 50 50.
• 24:53
  Bruce Hill (Coach): So that's a good way to get someone to partner with you.
• 24:58
  Bruce Hill (Coach): And then on the vendor side of things, I have a couple of vendors that I market their services for them.
• 25:05
  Bruce Hill (Coach): And what you do is you could always just drop a little, you're sending your mail out, and we do recommend that people mail as well as called.
• 25:13
  Bruce Hill (Coach): Tou're sending your mail out anyway with your particular narrative and your particular marketing message.
• 25:18
  Bruce Hill (Coach): You can always drop a little side, small postcard in promoting one of your vendor partners business and have them offset the cost of that round of mail.
• 25:28
  Bruce Hill (Coach): Because you're promoting their business on a separate cards that you just include with the letter that you're sending out anyway.
• 25:34
  Bruce Hill (Coach): So there are ways of really monetizing this and at least offsetting costs associated with not only that, but marketing to the families as well.
• 25:44
  Isaac: You partner up in the postcards with a mortgage broker or like who?
• 25:49
  Bruce Hill (Coach): Oh, there's all kinds of people.
• 25:50
  Bruce Hill (Coach): You could use financial advisors, you could use estate sales companies ,you could, use, clean-out companies.
• 25:57
  Bruce Hill (Coach): house cleaners, landscapers.
• 25:59
  Bruce Hill (Coach): We, in my business, I have a list of somewhere in the neighborhood of 24, 25 different vendors that I use throughout the year.
• 26:07
  Bruce Hill (Coach): And it really, the list can go on and on, but these are 24, 25 different vendors that are going to be typically involved in at least one deal with me through the course of a year.
• 26:18
  Bruce Hill (Coach): And, so they're the first people that I go to and ask if they want me to promote their business in a particular round of mail that I'll be sending out.
• 26:26
  Isaac: Cool.
• 26:27
  Isaac: I'm so excited.
• 26:28
  Isaac: I'll be honest.
• 26:28
  Isaac: I was looking at, I was looking into affiliate marketing and I got just because, when you don't have a good, system in real estate, commercial real estate is great, we've been through a few skeptical months.
• 26:40
  Isaac: So this is great that I came across you guys actually saw your work and you really are.
• 26:45
  Jim Sullivan (Host/Coach): We're glad you found us.
• 26:46
  Jim Sullivan (Host/Coach): And we're, we've gotten pretty big over the last six or seven years, but never too big to be able to help you know, anybody that we can.
• 26:52
  Jim Sullivan (Host/Coach): So we appreciate your input.
• 26:53
  Isaac: Who's who Chad.
• 26:54
  Isaac: I know I see him on Facebook on allthe eads.com And then who's talking.
• 26:58
  Jim Sullivan (Host/Coach): Yeah, this is Jim Sullivan, Bruce Hill.
• 27:01
  Jim Sullivan (Host/Coach): Yeah.
• 27:01
  Jim Sullivan (Host/Coach): And if you go to the top of our website, just hit about us and you'll learn boring details that you don't care about all that.
• 27:07
  Jim Sullivan (Host/Coach): Oh, of course.
• 27:08
  Jim Sullivan (Host/Coach): All three of you.
• 27:09
  Jim Sullivan (Host/Coach): All the leads.
• 27:10
  Jim Sullivan (Host/Coach): Yes, sir.
• 27:10
  Jim Sullivan (Host/Coach): Nice to meet you.
• 27:11
  Jim Sullivan (Host/Coach): Nice to meet you, sir.
• 27:13
  Jim Sullivan (Host/Coach): Thank you.
• 27:13
  Jim Sullivan (Host/Coach): Yeah, we look forward to coming back in here and your success stories.
• 27:16
  Jim Sullivan (Host/Coach): Thank you.
• 27:16
  Jim Sullivan (Host/Coach): All right.
• 27:17
  Jim Sullivan (Host/Coach): Next up is phone number ending in zero nine, four eight.
• 27:22
  Jim Sullivan (Host/Coach): You're up next.
• 27:23
  Ruel: Hey guys.
• 27:24
  Ruel: How you doing?
• 27:24
  Ruel: This is Ruel from Bergen County.
• 27:27
  Ruel: Can you hear me?
• 27:27
  Ruel: Yes, sir.
• 27:28
  Ruel: Yes, sir.
• 27:28
  Ruel: unfortunately our courthouses are still closed.
• 27:32
  Ruel: so we've been working with expired and expired leads as far back as January, February, March, unfortunately, nothing stuck.
• 27:39
  Ruel: so I was just wondering what you guys think we should, do as far as going back, getting outdated, last year is the latest, or what can I do going forward to be a little more current with the leads that we have?
• 27:50
  Ruel: And second part of that question is a little unrelated, but, we're hired hiring our VA come January.
• 27:57
  Ruel: If you could just walk me through how you think I should, college is going to have them go over the last month, three day, which I have a copy of had been go through that.
• 28:05
  Ruel: But as far as more training for VA, any input would be appreciated.
• 28:09
  Chad Corbett (Coach): And on your first question, you heard Bill Byrd in the beginning of this call, he just took him to two and a quarter million dollar listing.
• 28:15
  Chad Corbett (Coach): That was three from a three-year-old list.
• 28:18
  Chad Corbett (Coach): So not every family will actually sold the real estate during the probate.
• 28:22
  Chad Corbett (Coach): however, the personal representative is usually if closed, they're usually the one who inherited the property.
• 28:28
  Chad Corbett (Coach): So there's some opportunity there.
• 28:30
  Chad Corbett (Coach): They're also the major procrastinator, so go a year or two or longer, and then leave probate open because there's no mandate.
• 28:38
  Chad Corbett (Coach): There's no timeframe where it has to be closed.
• 28:40
  Chad Corbett (Coach): people try to move them along and get it closed.
• 28:44
  Chad Corbett (Coach): Yeah, there's no hearts law that says it has to be done in this amount of time.
• 28:48
  Chad Corbett (Coach): So what you'll find on those older list as you'll have no competition, virtually none ever, because everyone else has long forgotten about them and they assume that they, they've already sold everything.
• 28:59
  Chad Corbett (Coach): So they don't matter to them.
• 29:01
  Chad Corbett (Coach): What you find is those are the people who need you to get your leadership and your help most.
• 29:05
  Chad Corbett (Coach): So a lot of times it's for your come list.
• 29:08
  Chad Corbett (Coach): Me calls come from.
• 29:09
  Chad Corbett (Coach): And so someone else is a contributor here and it's a great subscriber of ours.
• 29:13
  Chad Corbett (Coach): David Panell.
• 29:14
  Chad Corbett (Coach): If you've heard him talk, you'll hear him talk about the same thing.
• 29:17
  Chad Corbett (Coach): He has a significant amount of his folk comes from homeless and calls that were six to 12 months old.
• 29:23
  Chad Corbett (Coach): So if you guys have already worked through all the leads and you feel like you want to do more, I think it's a wise investment to buy the historical data and work on those older files because there is opportunity in there and any market in the country.
• 29:36
  Chad Corbett (Coach): so that was the first part.
• 29:37
  Chad Corbett (Coach): How far back would you go Ted?
• 29:39
  Chad Corbett (Coach): 24 months.
• 29:40
  Chad Corbett (Coach): At least.
• 29:40
  Chad Corbett (Coach): we find a lot of value.
• 29:42
  Chad Corbett (Coach): All of us back to 24 longest one I've ever done was back to 1983.
• 29:47
  Chad Corbett (Coach): So there are families that go decades and just put their head in the sand and do nothing.
• 29:52
  Chad Corbett (Coach): But you're going to find a really solid or on investment back to 24 months.
• 29:56
  Chad Corbett (Coach): Right now, I'm doing the other thing.
• 29:58
  Chad Corbett (Coach): The other go ahead.
• 29:59
  Chad Corbett (Coach): Sorry.
• 29:59
  Chad Corbett (Coach): The other thing I'll mention that was one of the primary reasons we can help grow probate plus, cause you can take two years worth of data, run it through probate plus, and then we'll be able, it's an easy button and we'll tell you which ones still have property wealth.
• 30:12
  Chad Corbett (Coach): The property is how much it's worth.
• 30:14
  Chad Corbett (Coach): everything about it, whether or not it's on MLS or has been.
• 30:17
  Chad Corbett (Coach): So it's $3 a lead for those historical leads.
• 30:20
  Chad Corbett (Coach): It's a dollar for the Lea in $2 for the augmentation.
• 30:24
  Chad Corbett (Coach): But you will like, we'll basically just raise the cream to the top of exactly who to reach out for and why you're reaching out what they own.
• 30:31
  Ruel: Yeah.
• 30:31
  Ruel: We were able to do the probate leads and the probate plus four, again, like I said, the last one, which we had was January, February, and March.
• 30:38
  Ruel: Unfortunately not much luck.
• 30:39
  Ruel: So I guess you're suggesting go back further then.
• 30:41
  Jim Sullivan (Host/Coach): Yeah, I would, I started last year.
• 30:44
  Jim Sullivan (Host/Coach): Yeah.
• 30:44
  Jim Sullivan (Host/Coach): I started to say right now I'm doing two deals that are between two and three years old, both of them.
• 30:49
  Jim Sullivan (Host/Coach): And they're really good clips where like Chad said, for one reason or another, they family issues, disagreements.
• 30:56
  Jim Sullivan (Host/Coach): They just weren't ready to do anything.
• 30:57
  Jim Sullivan (Host/Coach): Now they finally are, but the good news is.
• 30:59
  Jim Sullivan (Host/Coach): I guess the bad news is probably 90% of them are going to be sold or listed or, it's property has been disposed of, but yeah, you only need a few in there to really have, make a lot of sense and we keep hoping you guys will come back every month.
• 31:12
  Jim Sullivan (Host/Coach): We think it's gotta be next month.
• 31:14
  Jim Sullivan (Host/Coach): You're the, you're one of the few remaining markets that hasn't opened back up, but, milk the old ones.
• 31:18
  Jim Sullivan (Host/Coach): Yeah, congratulations, but sounds like you've got a good attitude.
• 31:22
  Jim Sullivan (Host/Coach): And we've mentioned on these calls too.
• 31:24
  Jim Sullivan (Host/Coach): you said it hasn't developed, I'm curious on the January, February leads were the majority of them already completed or they weren't ready to, or they were just delayed by the process or what's your most common objection that you're getting.
• 31:37
  Ruel: the biggest feedback was, first and foremost, what they always say is my lawyer's taking care of it.
• 31:42
  Ruel: And, the second one is actually they'd gotten rid of the property.
• 31:45
  Ruel: So although we ran the probate plus as late as October, when we ran probably a plus and all the leads, some of them would still say that even though it was on our list, That it was a, that they've gotten rid of the property.
• 31:58
  Ruel: So that was another kind of part that I was going to ask, like how updated is that list when we get them?
• 32:03
  Ruel: Because I was surprised when we followed up with called in October and the, probably a plus kind of spit out the list and they still said that they got rid of the property.
• 32:11
  Ruel: one thing that didn't occur to me.
• 32:13
  Ruel: If your records division is shut down.
• 32:15
  Ruel: That's why your recordings aren't being updated in probate.
• 32:18
  Ruel: But
• 32:18
  Chad Corbett (Coach): I hadn't thought of that.
• 32:19
  Chad Corbett (Coach): So actually, the MLS status and things like that are going to be accurate, but since your record room is not recording, if it's shut down, then probably not getting the data out to where we get the updated data set in that County.
• 32:33
  Chad Corbett (Coach): That makes sense.
• 32:34
  Bruce Hill (Coach): Yeah.
• 32:34
  Bruce Hill (Coach): And as someone that also actively markets, the probate leads, when I get probate, plus I always take.
• 32:42
  Bruce Hill (Coach): While I'm prospecting at the same time, I'm prospecting because I'll make a round of calls for my first letter drops.
• 32:48
  Bruce Hill (Coach): And as I'm doing that, I take an extra 10 seconds per property.
• 32:52
  Bruce Hill (Coach): And just compare the deceased name with the, with the current owner name on that real estate record.
• 32:57
  Bruce Hill (Coach): I find in my area and this isn't true of every area, but my Area.
• 33:02
  Bruce Hill (Coach): I find that about 5% will have had property and probate plus we'll show that it has transferred.
• 33:09
  Bruce Hill (Coach): So it might come through as a property record occasionally, but just looking at the current owner name, you'll see that it transferred sometime in the last couple of months, but we're still picking up a real estate record.
• 33:19
  Ruel: Gotcha.
• 33:20
  Ruel: Okay.
• 33:20
  Ruel: That's a little tip.
• 33:21
  Ruel: Second question, and I've already forgotten that.
• 33:23
  Ruel: Can you remind me, so my second question was we're hiring our VA, in January.
• 33:27
  Ruel: And, the first thing I was going to do is just have her go through the three day, which I have a copy of that's the first and foremost.
• 33:33
  Ruel: And then I was wondering after that, I was just going to have her listen to all the cold call, Archive that you have, but any other tips on how we should handle the VA?
• 33:41
  Chad Corbett (Coach): So what is the scope of her this VA service?
• 33:44
  Chad Corbett (Coach): Are they just playing phone work?
• 33:46
  Chad Corbett (Coach): Are they an office, admin marketing, admin?
• 33:48
  Chad Corbett (Coach): What are you going to sell house?
• 33:50
  Ruel: Basically our assistant, part of a company.
• 33:51
  Ruel: So it's not just cold calling, we're going to employ,basically have her do what the system that we've set up.
• 33:57
  Ruel: Ready.
• 33:57
  Ruel: Okay.
• 33:58
  Ruel: I just didn't like,
• 33:58
  Chad Corbett (Coach): okay, she's going to be, she's going to be more involved in just making phone calls five hours a week.
• 34:03
  Chad Corbett (Coach): Like she'll be a full-time employee.
• 34:04
  Chad Corbett (Coach): Absolutely.
• 34:05
  Chad Corbett (Coach): Okay.
• 34:05
  Chad Corbett (Coach): In that case, I agree that you should start her with probate mastery because she will then understand the operating system and core values that you guys are running off of.
• 34:15
  Chad Corbett (Coach): And there's a lot of value to that because then she'll start to develop.
• 34:18
  Chad Corbett (Coach): If she buys into that, then she'll start to develop her own version in her own language, and then putting her in the role, play calls and role playing with her.
• 34:27
  Chad Corbett (Coach): she w you know, instead of handing them a script, like most people want.
• 34:30
  Chad Corbett (Coach): Like you'll be able to groom her into someone who knows what to say, because she was, she did the right things in the right order when getting started.
• 34:38
  Chad Corbett (Coach): So I would start with mastery.
• 34:40
  Chad Corbett (Coach): Then I would go have her go to the role-play archive and do middle of less than three complete role-play calls.
• 34:47
  Chad Corbett (Coach): Then I would role play with her, like internally and your team.
• 34:51
  Chad Corbett (Coach): And had her come into our Facebook group, all the leads mastermind, there's lots of little subgroups in there where people set up role play groups that are recurring time each week, have her jump in and role play with our subscribers.
• 35:04
  Chad Corbett (Coach): you can have her join the probate mastery, alumni, Facebook page.
• 35:07
  Chad Corbett (Coach): And, as long as you guys like under your name, but you can jump in there and find role play partners that are, run and get a higher level.
• 35:14
  Chad Corbett (Coach): But that's the biggest thing.
• 35:16
  Chad Corbett (Coach): It sounds like she's going to be the initial point of contact.
• 35:18
  Chad Corbett (Coach): So you've got to get her where she's 100% clear on your offer and she has to be very empathetic to the family's possession.
• 35:27
  Chad Corbett (Coach): She has to be very clear on what you offer.
• 35:29
  Chad Corbett (Coach): And she has to, even if you don't have that in place yet, she has to be confident that she knows she has faith in you, that it will be in place by the time you get to the appointment.
• 35:37
  Chad Corbett (Coach): She's and that's, that should take up the next month of her time.
• 35:41
  Ruel: You can call back and ask what's next.
• 35:43
  Ruel: She'll be jumping into the Role Play calls with you guys.
• 35:45
  Ruel: I'm sure about that.
• 35:46
  Ruel: Hey Jim.
• 35:47
  Jim Sullivan (Host/Coach): Yep.
• 35:47
  Jim Sullivan (Host/Coach): Two eight one one.
• 35:48
  Jim Sullivan (Host/Coach): You're up next phone number ending in two eight one one.
• 35:51
  Caller 2: Hi, my name is I'm a I'm a broker in New York.
• 35:54
  Caller 2: I'm actually a associate broker I've been for awhile.
• 35:57
  Caller 2: What is it that we, one thing you have also that does not fall a little star next to it.
• 36:02
  Caller 2: How do we contact them?
• 36:03
  Caller 2: If we cannot call to the Do Not Call List?
• 36:05
  Jim Sullivan (Host/Coach): Are you talking about the generic do not call or are you talking about the New York restriction and I assume that was only quoted on my first lead.
• 36:12
  Jim Sullivan (Host/Coach): The 1st of December start with some of those farmers do not call, the number there.
• 36:16
  Chad Corbett (Coach): We do that to protect our own assets.
• 36:19
  Chad Corbett (Coach): As a call center, you're a much bigger target for litigation to get roped in to stuff by attorney.
• 36:24
  Chad Corbett (Coach): So we cannot, we do not call the do not those on, do not call.
• 36:28
  Chad Corbett (Coach): we've had over $7 million placed on the leads numbers that we've put out.
• 36:33
  Chad Corbett (Coach): And there's been one instance that I'm aware of, that anyone's aware of.
• 36:36
  Chad Corbett (Coach): And it actually did come out of the state of New York and attorney made a phone call to one of our subscribers.
• 36:41
  Chad Corbett (Coach): And said, listen, we got a call from a consumer.
• 36:43
  Chad Corbett (Coach): We understand they're a public representative, but their number was on DNC.
• 36:48
  Chad Corbett (Coach): Please don't call them again.
• 36:49
  Chad Corbett (Coach): And that was it.
• 36:50
  Chad Corbett (Coach): There was no email.
• 36:51
  Chad Corbett (Coach): There was no letter, no formal complaint.
• 36:53
  Chad Corbett (Coach): So you have to assess your own risk and make your own decisions.
• 36:57
  Chad Corbett (Coach): you understand what the NC is, but we have, there are several gray, legal opinions.
• 37:02
  Chad Corbett (Coach): a couple of which like one, this person is currently appointed as a public representative.
• 37:08
  Chad Corbett (Coach): For an estate that's in an open creditors period.
• 37:10
  Chad Corbett (Coach): Another angle, another legal opinion is that, you're not directly soliciting, it's a seldom something you're offering a service and you're not even sure what that is yet, because there's many ways you can help them, but you and your broker will have to look at it and decide if you're comfortable making those calls.
• 37:27
  Chad Corbett (Coach): I will say that most of our top producers actually didn't.
• 37:30
  Chad Corbett (Coach): okay.
• 37:30
  Chad Corbett (Coach): I'll follow.
• 37:31
  Chad Corbett (Coach): Okay.
• 37:31
  Chad Corbett (Coach): Okay.
• 37:31
  Chad Corbett (Coach): My second question is, I also was importantly, I was the administrator.
• 37:36
  Chad Corbett (Coach): If I already have it, if I wasn't a position, I had an administrator, I had an attorney.
• 37:40
  Chad Corbett (Coach): I'm an administrator.
• 37:41
  Chad Corbett (Coach): why would, how do I make myself different?
• 37:43
  Chad Corbett (Coach): if you want to use me whenever you have an attorney, I know I'm not an attorney yet, but how would I show that the service offers better than what.
• 37:50
  Chad Corbett (Coach): how would I sell the service basically?
• 37:51
  Chad Corbett (Coach): What do I, what am I offering question,
• 37:53
  Bruce Hill (Coach): You're offering everything that the attorney does not handle.
• 37:58
  Bruce Hill (Coach): So typically the attorney's handling all the legal aspects, the paperwork, the asset collection, the debt they're handling that and paperwork that goes to the courthouse where the family.
• 38:10
  Bruce Hill (Coach): They still need to clean the house out.
• 38:12
  Bruce Hill (Coach): They need to maintain the house.
• 38:15
  Bruce Hill (Coach): They need to clean the gutters, cut the grass, fix the leaking sink, have an estate sale, divide up personal property assets, sell the property they need to, they need all that.
• 38:26
  Bruce Hill (Coach): They need to make sure it's insured.
• 38:28
  Bruce Hill (Coach): And most attorneys, not all, but most attorneys don't help them with those things.
• 38:33
  Bruce Hill (Coach): So when someone just hammers me with, Hey, we have an attorney and they're handling everything rather than attack that objection, head on.
• 38:44
  Bruce Hill (Coach): I want to attack it in a couple of minutes.
• 38:47
  Bruce Hill (Coach): On that call.
• 38:47
  Bruce Hill (Coach): So I want to circle back to that and ask them some questions about what their future plans are.
• 38:53
  Bruce Hill (Coach): Hey, it's great that your attorney is helping with that.
• 38:56
  Bruce Hill (Coach): You might not need a whole lot for me today.
• 38:58
  Bruce Hill (Coach): Do you have a quick minute for us to talk and figure out if maybe there is something that I can provide?
• 39:03
  Bruce Hill (Coach): Because I'm not just one thing.
• 39:05
  Bruce Hill (Coach): And then you asked about the real estate you ask who's involved.
• 39:09
  Bruce Hill (Coach): there's a whole list of questions that you can ask.
• 39:12
  Bruce Hill (Coach): And if you want our interview sheet, just, get with support or shoot me an email@roofsatalltheleads.com and I'll get you an interview sheet that we have, but eventually you're going to circle back and you're going to start to share with them how the attorney doesn't take care of.
• 39:29
  Bruce Hill (Coach): Many times the attorney does not take care of all those real estate and personal property group related responsibilities.
• 39:36
  Bruce Hill (Coach): That's on them and that's what you take care.
• 39:38
  Caller 2: Okay.
• 39:39
  Caller 2: Okay.
• 39:39
  Caller 2: I'm gonna definitely get this sheet interview sheets, but you have script as well.
• 39:42
  Caller 2: I'll get a copy of that as well.
• 39:44
  Caller 2: Thank you.
• 39:45
  Caller 2: I appreciate it.
• 39:46
  Caller 2: Very good.
• 39:46
  Caller 2: We have, we were in the queue.
• 39:48
  Caller 2: One more question.
• 39:49
  Caller 2: Go ahead.
• 39:49
  Caller 2: All right.
• 39:50
  Caller 2: I also really want to be an investor.
• 39:51
  Caller 2: If you haven't built to really dream is to be inside themselves a little bit, an investor.
• 39:55
  Caller 2: I'm assuming I'll find somebody you want to, wants to sell it to an investor.
• 40:00
  Caller 2: I actually don't have the cash.
• 40:01
  Caller 2: I can get a partner, but is there a, a contract you're getting into a contract with them?
• 40:06
  Caller 2: I didn't slip the contract to an investor, or how does that, how would that work?
• 40:10
  Caller 2: Like I don't have the money just depends on your, it really depends on your strategy.
• 40:13
  Caller 2: do you ever cash aside, would you rather have a hold a home long term and get the cash flow and tax benefits?
• 40:21
  Caller 2: Or are you just always looking for quick revenue at the beginning of that quick way?
• 40:24
  Caller 2: And you just don't have enough money to spread them around.
• 40:26
  Caller 2: So that could be come to the point that I, it, I'm sorry.
• 40:28
  Chad Corbett (Coach): Okay.
• 40:29
  Chad Corbett (Coach): And you're you already have a license, right?
• 40:31
  Chad Corbett (Coach): Yeah, I've been a broker for many.
• 40:32
  Chad Corbett (Coach): Okay.
• 40:33
  Chad Corbett (Coach): So as a broker, you can take a flat fee listing agreement and don't offer any cooperating broker commission.
• 40:40
  Chad Corbett (Coach): So for example, on a hundred thousand dollar house, you might take $20,000 commission and then offer a zero, 0% co-op people are going to be showing your listing.
• 40:48
  Chad Corbett (Coach): So as long as you have the buyers list, That's a way to do it through your real estate license.
• 40:53
  Chad Corbett (Coach): And obviously when you bring the buyer in, you would give them an unrepresented party at the end them, I don't recommend representing them in a dual agent capacity.
• 41:02
  Chad Corbett (Coach): I think that's right.
• 41:03
  Chad Corbett (Coach): I think it's, there's too much liability, but you can take a flat fee.
• 41:07
  Chad Corbett (Coach): Listing and just don't offer it to anyone else.
• 41:11
  Chad Corbett (Coach): Or you can get it under contract.
• 41:12
  Chad Corbett (Coach): As a principal, don't use your sole proprietorship, your personal name or your brokerage, and use a separate entity.
• 41:19
  Chad Corbett (Coach): and then just assign that contract for an assignment fee.
• 41:22
  Chad Corbett (Coach): And the most vital comes from most markets.
• 41:25
  Chad Corbett (Coach): You can find a title company that will do a simultaneous close, where you don't actually, you can close the B to C with the aid of pay money.
• 41:32
  Chad Corbett (Coach): Okay.
• 41:32
  Chad Corbett (Coach): And then the reason I asked that, the reason I asked the question I did, if you wanted to really build wealth, basically you can take the subject to a lot of times the home, almost 68% of the time, these homes are free and clear.
• 41:45
  Chad Corbett (Coach): and you can take them with owner financing.
• 41:47
  Chad Corbett (Coach): And a lot of times without a payment, they, they will actually just finance it to you.
• 41:51
  Chad Corbett (Coach): And then No, I would say a six to 8% interest rate.
• 41:54
  Chad Corbett (Coach): You can show them an extreme amount of value.
• 41:57
  Chad Corbett (Coach): Obviously you're not going to go full term.
• 41:59
  Chad Corbett (Coach): You just, you get it.
• 42:00
  Chad Corbett (Coach): Cash flowing.
• 42:00
  Chad Corbett (Coach): Then do you do a cash out refi with a community bank?
• 42:03
  Chad Corbett (Coach): And boom, you got cash in your pocket.
• 42:05
  Chad Corbett (Coach): You've got the house and you've got monthly cashflow.
• 42:08
  Chad Corbett (Coach): So you need to get clear on what your strategy is like, why do you want to be a real estate investor?
• 42:13
  Chad Corbett (Coach): If it's to make a bunch of money real fast once, and wholesaling is a great.
• 42:17
  Chad Corbett (Coach): But if you want to build real wealth, then you do things like the ladder.
• 42:21
  Chad Corbett (Coach): what I just talked about, you take a home owner financing, you get a tenant in place, you do a cash out refi.
• 42:26
  Chad Corbett (Coach): Then you get the best of both worlds.
• 42:28
  Chad Corbett (Coach): You get the house and you get a pocket full of cash and you get monthly cashflow and you get the appreciation.
• 42:35
  Chad Corbett (Coach): and all the tax benefits of that.
• 42:37
  Chad Corbett (Coach): So really get clear on what your strategy is.
• 42:39
  Chad Corbett (Coach): Then you'll know what to do with the houses.
• 42:41
  Chad Corbett (Coach): Yeah, that's a much better idea.
• 42:42
  Chad Corbett (Coach): That's what I want to do, but I thought I needed more cash for dump influence property and do the traditional down-payment go for mortgage, have qualified for the mortgage and all that other stuff, which I won't qualify with income.
• 42:53
  Chad Corbett (Coach): Something I'll point you to, if you go to probably our YouTube channel, the easiest place to find us back in March, we did a series called shift happens in episode four, cat we'll link to it in the show notes, but episode four shift happens.
• 43:08
  Chad Corbett (Coach): I think he threw seven distinct creative finance strategies that allow you to do what I just proposed.
• 43:14
  Chad Corbett (Coach): So if it's, if that's new to you and it's intimidating to you start there, it's a couple of hours of training.
• 43:20
  Chad Corbett (Coach): We just did it on zoom, but start there and start to get an understanding.
• 43:25
  Chad Corbett (Coach): and then there's some other places I can point you once you have a basic understanding of what the strategies are, I'll point you to some more advanced training.
• 43:32
  Caller 2: Okay.
• 43:32
  Caller 2: Okay.
• 43:34
  Caller 2: That helps.
• 43:34
  Jim Sullivan (Host/Coach): Next up is phone number ending in eight, two one three.
• 43:38
  Jim Sullivan (Host/Coach): You're up next?
• 43:39
  Jim Sullivan (Host/Coach): Hey guys.
• 43:40
  Jim Sullivan (Host/Coach): super quick.
• 43:41
  Jim Sullivan (Host/Coach): D regarding a date, question, book, name, and follow up.
• 43:45
  Jim Sullivan (Host/Coach): So date, you said that the next.
• 43:47
  Jim Sullivan (Host/Coach): Mastermind is on the seventh.
• 43:49
  Jim Sullivan (Host/Coach): Does that mean that on the sixth?
• 43:50
  Jim Sullivan (Host/Coach): There will be a role-play a yes or no.
• 43:53
  Jim Sullivan (Host/Coach): Oh yes.
• 43:53
  Jim Sullivan (Host/Coach): Good question.
• 43:54
  Jim Sullivan (Host/Coach): Very good.
• 43:55
  Jim Sullivan (Host/Coach): Yeah.
• 43:55
  Jim Sullivan (Host/Coach): That's the first Wednesday of the month, absolutely.
• 43:57
  Jim Sullivan (Host/Coach): Thank you.
• 43:57
  Jim Sullivan (Host/Coach): Okay.
• 43:58
  Jim Sullivan (Host/Coach): Okay.
• 43:58
  Jim Sullivan (Host/Coach): So that will, okay, cool.
• 44:00
  Jim Sullivan (Host/Coach): Then, I think, bill mentioned the name of that Chad suggested something generation.
• 44:05
  Jim Sullivan (Host/Coach): I didn't catch the first word friendship generation.
• 44:08
  Jim Sullivan (Host/Coach): I wrote down generosity generation.
• 44:11
  Jim Sullivan (Host/Coach): Oh generosity.
• 44:12
  Jim Sullivan (Host/Coach): Okay, cool.
• 44:13
  Jim Sullivan (Host/Coach): And then my actual question is regarding follow-up.
• 44:16
  Fed: So once you've called someone, let's say, two, three, maybe even, starting the fourth call, I'm running out of things to say.
• 44:25
  Fed: How should you approach it?
• 44:26
  Fed: You just approach it from an angle of, has anything changed that you need assistance with, with such as, securing the property, repairs, plumbing, et cetera, or do you guys take a different approach?
• 44:37
  Chad Corbett (Coach): As you're.
• 44:38
  Chad Corbett (Coach): Where are you?
• 44:38
  Chad Corbett (Coach): What market are you in again?
• 44:40
  Chad Corbett (Coach): I don't know.
• 44:40
  Chad Corbett (Coach): I keep forgetting.
• 44:41
  Chad Corbett (Coach): Oh, all good.
• 44:42
  Chad Corbett (Coach): All good Los Angeles.
• 44:43
  Chad Corbett (Coach): All right.
• 44:43
  Chad Corbett (Coach): So Bill Bird just gave you your intro point for every conversation you have until the rent until the end of this month, especially you've got an urgent reason to follow up, right?
• 44:53
  Chad Corbett (Coach): Because you are, you just now learned that they're about to lose the step up basis rule and that's a big damn deal.
• 44:59
  Chad Corbett (Coach): And you need to let them know because nobody else is.
• 45:02
  Fed: Okay.
• 45:03
  Fed: I love that.
• 45:04
  Fed: All right.
• 45:04
  Fed: To do that today, actually.
• 45:05
  Fed: Yes, sir.
• 45:06
  Fed: Thank you guys.
• 45:07
  Fed: All right.
• 45:07
  Fed: Awesome.
• 45:08
  Fed: Thank you for being quick.
• 45:09
  Fed: And our last, if that we saved the best for last, six two, three, one, you're up last.
• 45:14
  Mike: Hey guys.
• 45:14
  Mike: Hope you're all doing well.
• 45:16
  Mike: Try to be quick.
• 45:16
  Mike: I'm going to have to limit my eight questions down to one or two.
• 45:20
  Mike: All right.
• 45:20
  Mike: Thank you Mike.
• 45:21
  Mike: I recognize your voice.
• 45:22
  Mike: Yes, sir.
• 45:23
  Mike: By the way, the other seven, just contact us after the call.
• 45:25
  Mike: Send us an email and we'll deal with them off the call@ support.
• 45:28
  Jim Sullivan (Host/Coach): Yeah.
• 45:29
  Jim Sullivan (Host/Coach): Supported all the leads.com.
• 45:30
  Jim Sullivan (Host/Coach): Yes, sir.
• 45:31
  Jim Sullivan (Host/Coach): The first one is a quick one.
• 45:32
  Jim Sullivan (Host/Coach): It's is the, when you talk about the six ways you guys can help, is that what you refer to as the service hub?
• 45:37
  Mike: Correct.
• 45:38
  Mike: I think that's what Chad to the service wheel.
• 45:40
  Mike: Yeah.
• 45:40
  Mike: And I just, I just want to say hi to thank you for all the great things that you're doing.
• 45:46
  Mike: Thanks to Tim for calling me.
• 45:47
  Mike: It was an honor to speak with him earlier and, and thanks for Bruce to, to speak with me yesterday on our call.
• 45:53
  Mike: Everybody's doing such a fantastic job.
• 45:55
  Mike: I'm so happy to be part of this.
• 45:56
  Mike: This, this group, if I just got my URL, just got the website, signed up for that.
• 46:01
  Mike: do I shoot, should I then go get that URL, that name form an LLC with it?
• 46:06
  Mike: Or what do I do to protect myself?
• 46:09
  Mike: Am I now going to form a company with that URL?
• 46:11
  Mike: What's the suggestion there now.
• 46:13
  Chad Corbett (Coach): It's depends on how big your vision is.
• 46:15
  Chad Corbett (Coach): your entity name certainly doesn't have to match your, your URL name is nice.
• 46:20
  Chad Corbett (Coach): If it does you have that consistency, but if you have a purpose and a need for an entity, yeah, go get one that matches your URL.
• 46:27
  Chad Corbett (Coach): It's available.
• 46:28
  Chad Corbett (Coach): Now the one thing I would say what, let me first ask, what is your URL?
• 46:33
  Chad Corbett (Coach): Yeah.
• 46:33
  Chad Corbett (Coach): Jersey probate solutions.com.
• 46:35
  Chad Corbett (Coach): Okay.
• 46:36
  Chad Corbett (Coach): So we've heard on this call.
• 46:38
  Chad Corbett (Coach): Once you get really good at probate, the attorneys and the judges start giving you what all of the divorce listings, they start paying you to testify in court.
• 46:46
  Chad Corbett (Coach): You start to do trust administration.
• 46:49
  Chad Corbett (Coach): You start to help families in transition that haven't had a loss in the family, but this applies perfectly well to their situation.
• 46:57
  Chad Corbett (Coach): So when building a brand, the biggest consideration that I warned people are, bring up the people is,
• 47:02
  Jim Sullivan (Host/Coach): we lost Chad.
• 47:03
  Jim Sullivan (Host/Coach): you there, Chad.
• 47:04
  Jim Sullivan (Host/Coach): I know what he was going to say.
• 47:05
  Jim Sullivan (Host/Coach): We lost him in sounds like he cut out.
• 47:07
  Jim Sullivan (Host/Coach): you want, you might want to do something like a Jersey transition specialist or a family transition specialist.
• 47:14
  Jim Sullivan (Host/Coach): You might, if you plan on expanding beyond probate, you might want to make it just a bit more generic.
• 47:20
  Jim Sullivan (Host/Coach): All right, sir.
• 47:20
  Jim Sullivan (Host/Coach): thank you and contact us with help with the other questions.
• 47:23
  Jim Sullivan (Host/Coach): I appreciate you keeping it short.
• 47:24
  Jim Sullivan (Host/Coach): all right.
• 47:25
  Jim Sullivan (Host/Coach): Thank you.
• 47:25
  Jim Sullivan (Host/Coach): I want to thank each of you, this 2020 has not been an easy year, but, we appreciate all of you being here.
• 47:32
  Jim Sullivan (Host/Coach): It's actually been a productive year.
• 47:34
  Jim Sullivan (Host/Coach): thanks to our partnership with all of our great clients like you.
• 47:37
  Jim Sullivan (Host/Coach): And we want to, whatever holiday you celebrate, we hope you have a safe, happy, relaxing one with your family.
• 47:44
  Jim Sullivan (Host/Coach): And, I want to challenge each of you.
• 47:46
  Jim Sullivan (Host/Coach): I always do take some of the ideas you heard on this call over the next few weeks, couple of weeks, go out and.
• 47:52
  Jim Sullivan (Host/Coach): Put them into practice and come back on January 6th for a role-play call and January 7th for our next mastermind call.
• 48:00
  Jim Sullivan (Host/Coach): Have a great holiday guys.
• 48:02
  Jim Sullivan (Host/Coach): Stay productive, stay safe, and we will talk to you soon.
• 48:04
  Jim Sullivan (Host/Coach): Take care.