Latest / All The Leads Mastermind Podcast / Listed, Sold, or Keeping: Why These Probate Leads Are Not Dead Leads = More! Mastermind #281

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Listed, Sold, or Keeping: Why These Probate Leads Are Not Dead Leads = More! Mastermind #281 · All The Leads Mastermind Podcast

• 0:00
  Unknown Speaker: I want to make sure you understand something a common misconception is that if there is a will probate is not required and if there is no will those are the people that goes through probate and that's not correct. Regardless of whether you have a will or not probate is most usually required.
• 0:35
  Unknown Speaker: Welcome highly productive agents and investors nationwide. Today is June 4 2020. And this is mastermind call number 281. As always, if you would like to actively participate, just hit star six and hit one. And let's go right to our first caller. First up is phone number ending in 467. for Europe first
• 1:01
  Unknown Speaker: Hi there, guys, Happy Thursday. My question is,
• 1:05
  Unknown Speaker: I've decided to start with the probate vertical. I guess that's the main focus and the main lead resource that you guys offer for leads. As I've been going through and learning a lot about probate and thinking about the different, the different folks involved in the types of professionals we'll be working with. It seems like there's a strong parents and strong parallels between other verticals like divorce foreclosure, or financial, strong financial hardship, and then also just regular elder transition to assisted living. I know we mentioned that in the probate mastery.
• 1:39
  Unknown Speaker: Have you seen other members? Or do you see opportunity to also expand, expand and kind of rebrand for each of those specific verticals and then offer a similar solution to those those parties as well?
• 1:54
  Unknown Speaker: Absolutely, I mean, the methodology we use works on really any list, but especially
• 2:00
  Unknown Speaker: With the groups you mentioned, and what you'll find, especially when you're building out your attorney referral network, you'll start to get their divorce referrals. There's no really good list for divorce leads at something that you know, our customers have asked and ask and ask, but a lot of the majority of places it's recorded on the cre not on filing. So building those relationships and with attorneys building that team sets you up perfectly to handle divorce. You can also help handle eldercare like families in transition. But it translates perfectly through to foreclosure, you know, providing options and bringing a vertically integrated solution to provide those options. You know, would you like to keep your house or sell your house? Okay. Do you have equity or do you not have equity and look at the timeline. So you could do a short sale you can do a cash acquisition, you can do a loan modification, you know, there's a lot of different you can do creative financing. So what we teach in probate is works across many many different lists on submit
• 3:00
  Unknown Speaker: So you're you're thinking in the right direction. As far as branding, it's a discussion we commonly have, like a lot of folks will do, you know, Dallas, probate calm. And once they get to scale, and they see what you already seen, they realize they have to manage multiple brands, or they have to rebrand. So, I would encourage you to think about how big this is going to be. If you look out 10 years and you see yourself dealing with all human transition scenarios. Maybe you should brand that way. So Dallas, transition calm, or something like that. So as you're creating your brand, you want to make sure it's scalable and something you grow into not out of, potentially, if you're thinking that big.
• 3:44
  Unknown Speaker: Okay, that makes a lot of sense. I've actually, it's interesting in my domain that I'm thinking about doing others as fun and the trade name is Florida transitions. So it's FL transitions calm. So that's great. Are there any transitions that I'm missing aside from those big four, that could be really big potential.
• 4:00
  Unknown Speaker: Drivers value,
• 4:02
  Unknown Speaker: you pretty much hit on on the biggest ones.
• 4:07
  Unknown Speaker: And in the red here, whether there are health, there are health transitions that create a lot of urgency. So, as 68% of senior citizens surveyed by the Nursing Home Ministry plan to die in their home with no contingency plan, and according to the Federal Reserve survey last year, among those senior citizens, the median liquidity is only $24,000. So there's when somebody has a sudden change in health condition, and a lot of times forces them to change their living situation. They don't have any liquidity all their all their net worth is tied up in a house. But because of the regulations, it's hard to, you know, it's hard to necessarily target those people. So that's what we teach you in mastery and building a referral network. You can get those kind of health transitions by having real relationships with social workers, senior moving companies, eldercare attorneys, nursing home
• 5:00
  Unknown Speaker: employees. So you that's one that you didn't specifically touch on but is there it's just a lot of, it's one of those that you don't really you can't just pull a list. You have to go build real relationships in the community.
• 5:13
  Unknown Speaker: Thank you, Rob others, to others our bankruptcy and guardianship. Those are two that some of our subscribers get a lot of referrals from.
• 5:24
  Unknown Speaker: Yeah. Awesome.
• 5:27
  Unknown Speaker: And one of those might be popular next year.
• 5:32
  Unknown Speaker: We are working on a future product guys little teaser. We are very reluctant to roll anything out until we get it you know, until we get closer but you're definitely on the right track. The other thing I would add to that is part of the foreclosure you also you also want to find a good short sale specialist because you know, not all foreclosures are upside down but but some of them are in the past. A lot of
• 6:00
  Unknown Speaker: Lamar, and you know, we may see that market again when all this is over, you know, who knows, but you want to be you want to be. I would also say have a loan modification person too, because, you know, most loan modifications are not successful, but it's an extra service that you can offer your client before they, you know, pull the trigger on selling the house.
• 6:22
  Unknown Speaker: Make sense?
• 6:24
  Unknown Speaker: Yes, sir. You guys are awesome. Make a lot.
• 6:27
  Unknown Speaker: Okay, you're very welcome. Thank you. Next up is phone number ending in 4476. You're up next.
• 6:36
  Unknown Speaker: Yeah, how are you? Can you hear me guys?
• 6:39
  Unknown Speaker: hear you great Nana. You. Awesome. Well, I'll tell you this. I just finished with probate mastery just a couple days ago. It was just awesome guys. I cannot even believe how much value really added actually to the whole my perspective, understanding what the probate and how to approach and how to even talk to the people. So that
• 7:00
  Unknown Speaker: was just unbelievable course I would recommend to everybody who didn't complete. It just really opened up my eyes. But anyway,
• 7:07
  Unknown Speaker: I don't want you to ask a couple of questions.
• 7:10
  Unknown Speaker: And they two completely separate questions. So one is, I'm in Naples, Southwest Florida market, and a lot of objections that I guess from the people. This says that, okay, well, we keep into house we like totally cool. And are we staying in house? So this seems like it's not a lot of motivation. And I don't know if it's, and I know, I was kind of been like probably asking the wrong question in the beginning, because this was like before the probate mastery. But do you have any like co suggestion on how you would handle that objection.
• 7:44
  Unknown Speaker: So I wouldn't look at it as as much as an objection as it is their desire. So just because it doesn't meet your desired outcome doesn't mean it's really an objection, right.
• 7:55
  Unknown Speaker: What we find just like I referenced the statistic earlier, a lot of senior citizens there are
• 8:00
  Unknown Speaker: Only plan is to stay in their house forever. And all and life changes in a cocaine heartbeat. And then they don't have a plan. There's no contingency plan nothing's in order. So then the extreme urgency So building a real relationship with that person, basically putting them into your sphere of influence, however, you can find a way to offer them service. So maybe it's by connecting, we know that that's occurred and being enabled, they may already have all their landscaping and lawn care and home maintenance that may already be delegated. Often they have they have people helping with that already. But let's find that out. Let's find out if what their plan is, you know, their income is likely being cut in half, they may have life insurance coming in. But let's let's ask a few questions and see if we can get them to engage with us. And by not talking about real estate, create an impression with that person, especially if it's a surviving spouse, because anyone else who's calling is like hey, I'm this I'm this I'm that I can do this and it's all real estate.
• 9:00
  Unknown Speaker: Related where if you're having a compassionate empathetic conversation with him saying okay, well listen, there's a lot of things we do to help families even if they don't, you know want to sell property. We have a property management division that we we can help you currently, you know, transition to a rental. We also have short term rental experts as I'm sure you probably no, it's pretty nice. Naples is a pretty popular tourist destination. So we have a highly specialized Airbnb vacation rental ownership manager that can help you you know, rent out portions of your home or rent or rent your home when you're not here. For instance, if you're traveling back to New York for the summer,
• 9:37
  Unknown Speaker: it's really just us understanding your situation. So it what what is there anything that you can think of that you're unclear on or that you might use some help with, and just try to try to pry like strata find anything that you can help them with to create that lasting impression. And then the moment that that transition happens, you'll be the only person they think of that
• 10:00
  Unknown Speaker: How a lot of times with surviving spouses they will, you know, they'll say I'm gonna stay in the home and they're and they're still kind of in shock. And six or eight lonely months down the road, they realize they don't want to be in that house anyways. It has equity, they can buy a patio home closer to the grandkids, and they're eventually leaving Naples. So the mark of fun try to find a way to help them right now. And then mark them on put them on a follow up sequence, maybe talk to them every six months. One of our longest term subscribers, Roger Lisi, I don't know if he's on this call, but he does an incredibly good job of this. He only gets about 30 leads a month in his market, but he's consistently I mean, he's kicking butt. And it's because he treats every single conversation like a sphere of influence conversation. Now it's coming from his probate list, but every single one of them go into his sphere of influence in his database. And he just keeps in touch and treats him like people and offers him service. So he has literally he is
• 11:00
  Unknown Speaker: Tracking business is his reputation creates his transaction. So that's my advice. Bruce, I'm sure you probably have.
• 11:08
  Unknown Speaker: Greg, let me jump in. I'm cranky. Chad, let me jump in real quick. I was gonna add to that also that Roger Not only does that but everybody he meets in the course of the transaction, he has to serve influence. You know, if he's doing an open house and you meet a few of the neighbors, even though they're not ready to sell, they go in his soI. And you know, he touches base with them every month, you know, contractors, attorneys, you know, everybody, he come in for every probate I think he told us one time he averages three to five leads, in addition to serve influence every transaction he does. So, you know, some of it can be the incidental contacts it's, you know, not even that particular seller that you can add to your sphere. And, and I'd write what I used to do, and I just recommend, however often you call your sphere or contact your sphere, just kind of put them in there, whether it's money
• 12:00
  Unknown Speaker: quarterly every six months. And when you're talking to the person, even if you can't help them, you may want to end the conversation with you know, it's really nice talking to you, you know, we find often, people in your situation, you know that their situation changes. So do you mind if I just check with you from time to time? Almost nobody's gonna say Don't ever call me again. So get that permission to call them back and add them to your sphere and then just treat them like they were a past client. And Bruce, did you have something you want to add?
• 12:28
  Unknown Speaker: Yeah, so that's really good. Jim.
• 12:32
  Unknown Speaker: One of the things that I like to do with people in my just circles, regardless of what type of leads that they might be, or whether their sphere of influence or a real estate agent or whatever is I want to use and I can't remember the actual rule, subconscious psychological rule that that instance is called. But you want people to think that everybody is doing something if they feel like everybody else is doing
• 13:00
  Unknown Speaker: Doing something to work with you, then they're going to want to go with the crowd. So one of the things that I frequently do when they say, Hey, I'm not going to sell or I'm going to keep the I'm going to keep the house. It's a absolutely you know what I completely I completely understand. As a matter of fact, I get calls every day from people that have gone through probate, and they've decided to keep the house and they want me to help some other way, you know, I can connect you with, with a ton of different people that you're going to need as you keep the house. And a lot of times my clients decided they were going to keep the house in the beginning and change their mind six, six months or two years down the road. So I want you to know that I'm available for you to help no matter what you need, or when you need it. And you basically tell them that people call you every day for help like this, and all of a sudden now they're going okay, so it's not just me, I'm not your first client, other people you're in demand from other people as well. And it really caught supply
• 14:00
  Unknown Speaker: consciously puts them in your corner and makes them want to come to you with their needs.
• 14:07
  Unknown Speaker: Bruce was the term you were looking for a herd mentality heard what I was looking for, but it's the same. The same general principle. Same thing. Yeah, exactly.
• 14:20
  Unknown Speaker: All right. Does that help? Awesome? Yeah, no, absolutely. Absolutely. It definitely helps. I have one more question. Quickly, not related to this, but I've really appreciate guys. It just it really helps. Another question. I started
• 14:37
  Unknown Speaker: while I've been 14 years in business, but I started brand new commenting going in is all in video and YouTube channel. So I was really hoping to incorporate the probate into the YouTube channel, but then I was thinking like, Well, I think it's just too little, like maybe you I'm everywhere there. So I was thinking like, so my question is, is should I create a special
• 15:00
  Unknown Speaker: A channel just for the probate. And then.
• 15:05
  Unknown Speaker: And then I have ideas how I want to structure the videos and all of that. But maybe you guys recommend maybe if you don't even know right now, but if any other subscriber who is really active and successful on a YouTube channel with the probate, so it can come and get some additional ideas. Maybe you can share with that, and what are your thoughts on them on the YouTube channel to really start putting information out there? Because in reality, I mean, how much information do we really want to put up there in terms of the, you know, the probate discussion?
• 15:39
  Unknown Speaker: Great question. And I wish I could point you to a YouTube superstar. We encourage agents and investors to use video more and more and more every day. People have a, I don't know if it's fear or just intimidation of you, no percept that they're going to be perceived as, not professional but
• 16:00
  Unknown Speaker: People don't use it enough. YouTube is an amazing business tool. It's something I think we all use. I love it. I haven't watched TV in years, but I watch YouTube every day.
• 16:11
  Unknown Speaker: So I really, really encourage you to do that. And I would also encourage you to, and sounds like you've probably already this since you're here, but we have an abundance mindset. I mean, these phone calls have been broadcast, literally millions of times to millions of people. And we give away what most people charge thousands and thousands of dollars for. And it's because we believe if you put that value out into the world, it's always gonna find its way back. And even if your competitors are listening, they're not going to catch you. So don't worry about having good content. Because if it's good content, you'll be rewarded rewarded with the business anyways.
• 16:50
  Unknown Speaker: That said, having managed man having like managing multiple channels
• 16:57
  Unknown Speaker: can be really difficult and the aggregate you
• 17:00
  Unknown Speaker: traffic and the one channel helps you with the YouTube algorithm will help rank will rank you more quickly. The more traffic and watch time you have, the better off you are from from a being found standpoint. So, I would say stick with one brand and one YouTube channel, but definitely leverage playlist. So if you go to all Italy youtube.com forward slash all the leads, you'll see we have a playlist for mastermind a playlist for roleplay and shift happens and tips from the trainer. So it helps your audience navigate the content, but it keeps all the traffic on one channel. So and then the other thing is, you know, if you're helping first time homebuyers, and somebody in probate comes in they and they click off the probate playlist and they jump over to that they see that you're not you know, if they are perceiving you as taking advantage of families in this situation. They see that Oh, she's actually helping families in all stages of transition as they transition from college.
• 18:00
  Unknown Speaker: In the homeownership from first home into second home so, you know, it just it lets people get to know you know, thing I would say is make sure you are the one on camera as much as possible. And make sure that you do that in familiar places. If you if you're really working the Naples, Naples market, then get out there and use use Naples as your backdrop. And I would also say, like use real equipment, like don't skimp on microphones, especially iPhones or print like any smartphone right now is pretty amazing as a video camera. For 150 bucks, you can have it you can add amazing audio quality to it. There's lots of different microphones and things but make sure you have good lighting. Make sure you have at least 10 ADP video and make sure you have really good audio so you look professional. Don't try to script it. Just be you like don't overthink it. Don't try to do teleprompters or note cards.
• 18:58
  Unknown Speaker: Do your best struggle through the first
• 19:00
  Unknown Speaker: You even make the videos even if you don't publish them throw the throw them away, but get comfortable being on camera, and then it becomes fun and easy. And when it's fun and easy, you'll be out you know, like our partner Tom drinking a cocktail lunch when he's supposed to be working. And you'll be like, you know what, I'm gonna make a video
• 19:20
  Unknown Speaker: and it becomes it becomes fun and easy and your personality really comes through. So those are some of my best pointers on on it. I'm sure others have input in chat I you know, I'm gonna say that don't worry if your first couple of videos kind of stuck because I remember about four or five years ago and experience I had doing my first videos and what what was what was that? Like? Do you remember that? I think we may have we might have broken the teleprompter rule with you. I let you use a whiteboard.
• 19:54
  Unknown Speaker: At day one to drink had to take a couple of shots and took about
• 20:00
  Unknown Speaker: out to the video videos it took a bottle of Dewar's Scott's not a whole bottle just a couple of drinks.
• 20:09
  Unknown Speaker: And they were terrible they were they were absolutely terrible now I do a video a couple of times a week. So if it to get good you have to go through some of the some of the growing pains.
• 20:21
  Unknown Speaker: Yep, well said
• 20:24
  Unknown Speaker: All right, next up is phone number ending in 9542 you're up next. Hi, Bill Gross calling from Los Angeles California How you guys doing today?
• 20:35
  Unknown Speaker: Great bill. Hey Bill, but you good I want to start off with a Chad was right. We have time for quick Chad was right and comments
• 20:43
  Unknown Speaker: when you do that, but go ahead. He thinks he's always right. So you're just reinforcing that opinion. So I get I get asked a lot about training and I really took your mastery
• 20:55
  Unknown Speaker: earlier this year and retake it numerous times. Part of your package is being able to
• 21:00
  Unknown Speaker: Take it fantastic. And I think the main thing is the mindset of like coming from service. So many people
• 21:07
  Unknown Speaker: seem to be agents start off with, well, how to get commission checks? And and the answer really is being a service and your training is so much about that. And there was a lady I met at probate court, you know, once a year ago nightbot not maybe, maybe it was year ago. And it had some obvious problems. And she obviously had some chemical dependency issues and the result of that, and she missed the hearing date for the probates that she was involved with, and she told me a story and I took the time to listen to her that I would maybe normally have and, you know, kind of push myself to do that. And here we are, like, I think it's a year later and she told the story that she had a will for her brother was in the probate and he wasn't, he was intestate mean, there wasn't a will. But she knew that the will and she had a couple pages. You'd have all that. And here it is a year later. Turns out she actually does have
• 22:00
  Unknown Speaker: We'll but really it's even better than that because the poor have a well from a trust and she's the successor trustee so rather not being pushed out by her brother to a probate she's in control because it is a trust and so at the end of the day I would not have thought of that being good business a year ago before to train always saw that as being too much time and and to to gain to person connected and the opposite I think I look for those opportunities now to help people and I took the businesses seem to come in as a result of that so I just want to thank you and that you know, you're right it really is about first coming from being a service
• 22:40
  Unknown Speaker: no thank you for all you do is already where to go I go on and did I know this isn't meant to be a thank you Chad party so I'll just hit once and move on.
• 22:49
  Unknown Speaker: I do have a different question though. And at the risk of of argue with my coach and mentor in this business chat,
• 22:58
  Unknown Speaker: that this one is
• 23:00
  Unknown Speaker: But this case, though is she needs some might hire an attorney.
• 23:03
  Unknown Speaker: She has nothing. And she does need an attorney to get the process going and looking over all the details. And so I have kind of created a little probate advance business and I'm able to lend her some money and as advanced as somebody as result pay for attorney, and that's helping us get the ball going. And I know in the past, you've talked about it negatively. And I guess maybe I'm missing a tool to smother others. So my real question is, other than probate advanced, which is expensive, it's very expensive money. You know, what else can you do in a case when somebody doesn't have the three 510 thousand dollars even to hire an attorney to get started? What other options are there? What are the tools out there that you may use or are aware of the VA need to pay attention to more? Sure, my advice in that particular situation is find a better attorney one that's later in their career that has, you know, the has that still has some compassion left and isn't
• 24:00
  Unknown Speaker: Isn't cynical, but is knows that if they step up and help, they can, they can be paid on the back end, just like we turn a contractor into, you know, a rehab lender and carry the invoice for 180 days, if we're working with the right attorneys that are that have the right values, similar values to us, then they have cash reserves and their business. They are running it like a business and they don't mind to perform some work and be paid later. I mean, look what we do for a living, it's not unreasonable to ask, right? Like we provide immense amounts of value. And we're never paid until we do what we promise. And attorneys set their industry up differently. So they take a retainer on the front, you know, like some, like a business broker is much different than a real estate broker. So the industry is conditioned to work a certain way but that doesn't mean it has to be it's not mandated. It's not law. It's just common. It's just common behavior. So you can try to you know, use those attorney relationships as you build them.
• 25:00
  Unknown Speaker: And know that when I need this, I can go to this attorney he'll have my clients back. Alternatively, I have been, I've been vetting an estate advance lender, and you know, they're they're kind of just getting into this space. They've been working in creative finance and other other industries and other niches. And I've kind of issued them a challenge.
• 25:24
  Unknown Speaker: Very, very intelligent, very successful, firm. And by July 1, I hope to be able to introduce you guys all to them, and actually provide a
• 25:37
  Unknown Speaker: counter kind of a menu of financing choices for families in this position. We've done several calls, we've gotten to know each other. They're not the typical estate advance lenders that I have been critical of in the past. And they're kind of tailoring packages specifically to our customers needs and more importantly, the consumers need so hopefully in coming months, I'll be able to introduce you to those
• 26:00
  Unknown Speaker: Folks, and you can just have an immediately immediately go get a bridge loan product, you know, for a month for different reasons.
• 26:09
  Unknown Speaker: Well, thanks. So go back. You gave two answers. I think one is, I think what you're saying to me is if I haven't found the attorney that will work on the contingency or get paid back in, I see, do you keep looking at fine attorney that well?
• 26:23
  Unknown Speaker: Yeah, and maybe help them with financing. Okay, I hear that. And then the second as far as probably advance, I'd love if you need some help on that. I'd love to help test that. So if I can help in that process at all.
• 26:34
  Unknown Speaker: I mean, if you if you have active is this one that you still need to get funded?
• 26:39
  Unknown Speaker: I agree. I've got this one process. Right, I find it, I find it. Bill, if you could just let me know that. I mean, as soon as you think you have a need for financing because we're going with my concept of it's easier to steer a moving truck. So I'm trying to throw them live scenarios. And that's how I'm betting them by kind of behind the scenes. Before we
• 27:00
  Unknown Speaker: We say, Okay, you guys can trust these folks. So if you have live opportunities that we can put in front of them and you know, to create these products that will be helpful to me. So just let me know the second you have one and I'll connect you up. Great. Thank you. Thank you as always.
• 27:18
  Unknown Speaker: Thank you. All right. Appreciate your input. Thank you, Bill. Take care. Ah, next up is phone number ending in 0456. You're up next.
• 27:30
  Unknown Speaker: Thank you. Thank you. Jeff sanely from Central PA.
• 27:34
  Unknown Speaker: had a couple of questions. Couple of them are rapidfire.
• 27:39
  Unknown Speaker: Same address personal rep and the real estate, is there a different approach to take there?
• 27:47
  Unknown Speaker: That's typically typically
• 27:54
  Unknown Speaker: I guess. It's typically a surviving spouse situation, especially if you see a matching name.
• 28:00
  Unknown Speaker: Yeah. So kind of what we talked about earlier with with Anna, that we're going to call when we were talking about that earlier.
• 28:09
  Unknown Speaker: Yes, for kids at home, so like sometimes it's
• 28:13
  Unknown Speaker: okay. So some a lot of times surviving spouses, you know, they're still in shock from from the loss. They will say they're not ready to sell, but in a few months, a couple of months, a few months, they probably will be, they will have some realizations, and they probably, they're likely to need to sell. So, a lot of times it's a surviving spouse situation that spells or their only plan in the world is to stay in that house forever, and that changes rapidly. If you go to all the leads calm and the top right use the search bar, and type in surviving spouse. There's a tips from the trainer video where I tell some stories and kind of unpack this in long form where you can hear more about it. But typically when your addresses match, especially if last names match on the PR
• 29:00
  Unknown Speaker: The deceased field, that's going to be a surviving spouse situation, but you should not shy away from it. Just don't go into if you are approaching it, you know, real estate First, I would encourage you to pull back on that and approach people first and earn the right to talk about real estate when they're ready. Otherwise, you'll get door slammed in your face.
• 29:21
  Unknown Speaker: So
• 29:24
  Unknown Speaker: yeah, that's great. So a follow up to that is I'm getting a ton of people that I'm just getting, you know, we've got everything covered. We've got it all handled. We've got to take care of and I'm trying different things to continue the conversation, and apparently not doing a good job.
• 29:45
  Unknown Speaker: Have you tried the vacant insurance trick? I did.
• 29:52
  Unknown Speaker: I did. And you know, I would get like, well, it's kind of vacant. And I was involved in clarify what you mean. Well, we have somebody that comes
• 30:00
  Unknown Speaker: Getting going. And I've even gotten deeper to say, Well, you know what, a lot of people don't realize that if you don't have the right kind of insurance,
• 30:09
  Unknown Speaker: you know, specifically for vacant property blah, blah, blah, but
• 30:14
  Unknown Speaker: yeah, still not really and if and Josh is if there's a if there's a fire, and the house burns and the insurance company denies the claim, is that kind of catastrophic? Or would you say that's catastrophic?
• 30:31
  Unknown Speaker: Yeah, I like it. Yeah. Okay. So insurance is one angle. Humor is another. You can say things like Haha, the famous words of my best clients,
• 30:42
  Unknown Speaker: and then be silence.
• 30:46
  Unknown Speaker: On the other hand, there's other angles on it as feel felt found. I understand how you feel you validate their position, you don't challenge it. You say other clients have felt the same way because they were early in the process. They thought everything was handled.
• 31:00
  Unknown Speaker: A month later, they found out they were way behind. So what they found is our service was able to get them caught up where they didn't have to shoulder the whole load. So I, you know, we've helped many, many families through this, we've we've seen a lot of folks with that they they feel 100%, confident two weeks, and that they have all handled, and six months in or at the end of the rope. So, you know, worst case scenario, you're having a conversation with a professional who helps multiple families through this every day. And while you have at your disposal, I'm happy to answer any questions you might have. And you know, kind of even show you the top three mistakes I see people make. Otherwise, you know, my goal for the day is to reach every family and in the county that's going through this because we just talked to the probate clerk yesterday and realized that there's more this month than usual and we've got a lot of folks to help. So would you like to have five minutes of my time to learn more about what we do or do you want me to just let you be on your own
• 32:01
  Unknown Speaker: And it's a bit of a take take away so feel felt found followed by a takeaway. And it's a lot of times and again, follow with absolute silence, let them process let it hang there as long as it needs to. But a lot of times you'll hear a sigh and that means I realize he's different and then they start to tell you the truth.
• 32:23
  Unknown Speaker: Yeah. Okay.
• 32:26
  Unknown Speaker: The other the other. The other thing I would add real quick, Josh, if I could real quick I was just gonna add
• 32:34
  Unknown Speaker: Yeah, those those people kind of remind me of the fizbo the day there, the day they you know, put the sign in their yard or an expired the day is expired.
• 32:44
  Unknown Speaker: You know, you they may just be in that get rid of everybody mindset. And if you can't get anywhere with them on that conversation, I would treat them
• 32:54
  Unknown Speaker: often with expired. If you call them a week later, they're more receptive A month later, you're the only one
• 33:00
  Unknown Speaker: calling them. So I wouldn't, I wouldn't just absolutely assume what they're telling you is truth. I would give them some time to season and, you know, to let your competition stop calling and just, I would have three or four conversations like that before I completely give up on the people. You know, don't don't believe them the first time if you can't get any work, and I'm sure you probably aren't doing that. Yeah, totally get those people
• 33:25
  Unknown Speaker: to follow up with i didn't i didn't knock any.
• 33:30
  Unknown Speaker: Yeah, perfect. The other content is there any way you know, listed in when you get the leads,
• 33:40
  Unknown Speaker: is the approach any different with them knowing that that that number or numbers are not necessarily associated with the personal rep directly
• 33:53
  Unknown Speaker: as a spouse, or a sibling, somebody you know in the immediate family. So the approach is just
• 34:00
  Unknown Speaker: You know, get permission or get the number for the for the actual decision maker for the personal representative. So,
• 34:07
  Unknown Speaker: you know, it's Hi, Jane, I'm trying to I'm trying to reach john doe. And then let her say, you know, let's find out what the relationship is and be like, oh, listen, the reason we're reaching out and let her know why and ask if you can get that person cell phone number. And you usually don't want to go too deep with with somebody who's associated with the probate, but not actually in charge of the probate.
• 34:29
  Unknown Speaker: Because you never know what the dynamics are between the people right? So sometimes building rapport with with one party can hurt you with the other. And just so try not to go too deep with those folks until you have actually have built a relationship or built rapport or with with the PR. So it's really just gaining access to the PR as well. We give you the number.
• 34:54
  Unknown Speaker: And I don't want to monopolize here, but I have two more if you're good good
• 35:00
  Unknown Speaker: Da I'm getting a lot of people, even the newer leads, that the property is not only just already listed, but
• 35:07
  Unknown Speaker: is it Yeah, maybe faster moving than something
• 35:12
  Unknown Speaker: No, I think
• 35:14
  Unknown Speaker: it's, you know, geographically it's a different like some in some areas people were just more proactive. And maybe maybe this is a you know, a result of people needing money. You know, right now, like there's there's plenty of bad news telling everybody to get in cash control costs, the world's going to hell in a handbasket. So, it could be situational where people are just being more proactive. We know mom and dad went to the hospital, they're not coming home with to get the house on the market. And they have a power of attorney so the house was actually listed before the death occurred. You can if you want to research those go look at the seller Name field. So look at the PR last, you know the deceased last known address, and MLS look whose name it's listed under. If it's listed
• 36:00
  Unknown Speaker: In the name of the appeal A, then chances are it was and look at the listing date relative to the date of death. But I find that when my market probably 25% of families are proactive, and they know that, that they know what's coming. So the home will actually find its way onto the market before probate has ever ever petitioned before they ever petition for probate. That's just kind of the nature of it. You know, not everybody's going to need our help.
• 36:30
  Unknown Speaker: Totally. And that would make sense that those are the people that I'm actually talking to. They're answering their phones, right? Yes. Good point. Yep. Yeah.
• 36:40
  Unknown Speaker: laughing I am. I created a couple of videos to use
• 36:47
  Unknown Speaker: with Facebook and YouTube and on my
• 36:52
  Unknown Speaker: probate site,
• 36:54
  Unknown Speaker: getting really low max rate. So I'm wondering if I'm doing something wrong because I've heard you mentioned several times that
• 37:00
  Unknown Speaker: Typically, you have a really high match rate or it could just be my market and
• 37:08
  Unknown Speaker: then finding your match, right?
• 37:13
  Unknown Speaker: Well, okay, that's a great question. I'm assuming I'm getting a low max rate because I'm getting zero reach
• 37:20
  Unknown Speaker: for days with a with a $10 per budget $10 per day budget.
• 37:31
  Unknown Speaker: What's your call to action in the video?
• 37:37
  Unknown Speaker: Let me ask a better question. It's a video ad. So are you getting views? No, that's what I'm saying. I'm getting nothing.
• 37:47
  Unknown Speaker: And are you are you running a campaign ad or video or excuse me, a conversion ad or a video watch ad
• 37:54
  Unknown Speaker: is
• 37:57
  Unknown Speaker: video you
• 38:00
  Unknown Speaker: or reach?
• 38:03
  Unknown Speaker: It's a good question, but I didn't I didn't think to try a different. Both of those are kind of designed to just make sure people see it. So I'll maybe I'll do it whenever I did.
• 38:16
  Unknown Speaker: And how big is the original audience? Yeah, it's only I mean, I've only gotten 100. No, I got I got two months of leads. I haven't gotten new for a while because we're announcing and then I got some backlinks. So I'm 100.
• 38:31
  Unknown Speaker: Deep, baby.
• 38:33
  Unknown Speaker: And are you are you laughing? The first name, last name. All phone numbers, email,
• 38:39
  Unknown Speaker: and mailing address?
• 38:41
  Unknown Speaker: Yeah. Okay. So chances are, it's a really small audience. And the larger the larger your audience and the larger, larger your budget, the better your result with Facebook. So I imagine it will. It will improve over time as you grow that audience. It will improve
• 39:00
  Unknown Speaker: What you may want to do? Are you running ads 24 hours a day?
• 39:05
  Unknown Speaker: Yeah.
• 39:07
  Unknown Speaker: Well, you may want to do in this scenario, so you don't have to really raise your budget is restrict the time, the times of day, we pretty much know the demographics of these people, right? So a lot of these folks are middle aged or older, that are probating the estate of a sibling or parents, the vast majority of them, so chances are, they're not thumbing through their phone at one o'clock in the morning, right? So one thing you might try to optimize it is to focus your ad budget, maybe from 6am to noon, and 4pm to 10pm. Or whatever you think that demographic in your market, what time are they likely to be staring at their phones or on their laptops and, and try to you know, without, you know, I don't I'm trying not to give you the answer of well, just just spend more money.
• 39:59
  Unknown Speaker: You can always
• 40:00
  Unknown Speaker: surmised by, you know, by targeting the times of day that you're reaching these people might make a difference, I would test that first.
• 40:09
  Unknown Speaker: What I find is if any budget is lower than $250 a month,
• 40:15
  Unknown Speaker: it's just difficult because Facebook is designed for mass marketing, right? So they, of course, they want to encourage you to put more dollars in the slot machine.
• 40:25
  Unknown Speaker: So as your audience grows, I would encourage you to carry at least a $250 minimum budget.
• 40:31
  Unknown Speaker: It sounds like you're doing $10 a day, seven days a week. Is that right? Yes.
• 40:38
  Unknown Speaker: Yeah, so you're already there on that. I would first before raising your budget. I would try to optimize by targeting certain times of the day that would you know where that demographic is likely to be online. I would think that early in the morning, they're probably checking email, looking at the news, things like that. And then in the evenings after dinner, they're probably bored and doing the same
• 41:00
  Unknown Speaker: during the middle of the day might be the worst time for that demographic, I may be completely wrong, I would test it and maybe do one week, one week, maybe a two for the next week that 6am to 10am and 4pm, or like five 6pm to 10pm. This test your timing, see if that if it changes your view count. And then you can also a B test with different ad types. So you can do conversion versus video watch, or video views, whatever they're calling that now. And just see. And once we get your view count to trigger, and we see that we're actually getting views. If we're if that's not, you know, resulting in clicks or whatever your action is, then we know the video is not working. But right now it just seems like your targeting isn't working.
• 41:47
  Unknown Speaker: It's hard to know what your actual match rate is. It's been almost maybe more than two years ago, Facebook used to show us our match rate and they still have it on the back end. If you can get a Facebook
• 42:00
  Unknown Speaker: Rep. And they have scaled that the department a little bit, I think it's, you know, if you're actually spending money, I think you have access to a rep. But if you can request a fee, a call with a Facebook representative, they can actually tell from the back end what your actual math match rates are. That's how I find out when I do when now, if I upload a probate list, I get on their calendar, I'm like, Hey, can you tell me what the match rate is on audience number, you know, yada, yada, yada. And they can tell me what that is. So you might set up a call with with a Facebook rep, and just verify that you do have the match rates you expected.
• 42:38
  Unknown Speaker: I would think that if you might if you mapped all those fields, I would think your match rates above 80%. So it's, I think, but those are the things you can do to optimize and verify.
• 42:49
  Unknown Speaker: Three
• 42:53
  Unknown Speaker: good questions, man.
• 42:59
  Unknown Speaker: We still
• 43:01
  Unknown Speaker: Hello. Oh, hello. I think Jim may have dropped off. Go ahead. What
• 43:09
  Unknown Speaker: are you? I'm good, I'm good. It's a good timing because it's a little bit on the coattails of the last gentleman. So what I've been doing is because I have about nine months worth of leads. And so I have one window up of our MLS and one up of all the leads, CRM, basically. And it takes a little time to do this because I'm doing finger dialing and I'm going line by line, but I look to see if the property has been sold. And then I'll just obviously take it out, because I'm assuming we don't really need to follow up with those people. Unless maybe they had been unrepresented and they to be somebody you know, that we would want to give to a lawyer.
• 43:52
  Unknown Speaker: You don't like working with buyers that have pockets full of cash.
• 43:56
  Unknown Speaker: Okay, yeah, that could be it. Okay. Bye.
• 44:00
  Unknown Speaker: leads, think of those as two things are nightmare leads and private money lender leads. Okay. And referrals, is there an opportunity? Should we be doing individual letters with a different message? Because I don't get as many people on the phone or as many callbacks. And I know what the whole texting thing or mass texting? I don't know about that. Basically, I think that the direct letters are probably the best way to get in front of somebody, even if they don't think they need your services. By not, goes booming, assuming you haven't spoken to any other. This is right fresh list. The way that I would suggest you do that is using the shortcode field. Are you have you used that? Yeah, yeah. So I would apply a shortcode. So you can say, you know, surviving spouse, fiduciary,
• 44:53
  Unknown Speaker: you know, General, and maybe those are your three categories or so or maybe and like you just referenced real
• 45:00
  Unknown Speaker: They sold real estate listed. And I'll try it. You know, look, I don't know, maybe somebody would open the, the letter, you know, nine months 12 months later, which parlays into, like, kind of a big question, which I think I know the answer is everyone can hear it. It's like this. I'm still going to probate. I'm barely and it'll be a year in September, but with all the leads, but it's like it really is a shift in thinking it really is a long game. And specifically now, I'll just say for LA because our ports aren't going to open until who knows when maybe July or August, right? And then it'll be such a backlog that with this whole conversation around letters. I'm just wondering, because I don't have you know, endless budget for four letters. But it's like I'm kind of holding off potentially for the next mailer. I'll probably do it now in June but I was holding off in may just the mail has almost every person I do get on the phone says any court date that they had in April.
• 46:00
  Unknown Speaker: March April got pushed to July and it could even get pushed to August. So that goes into may you might just want to say that as a comment, you know, where people are going to put their dollars and the expectation from those dollars with with the courts being closed. You know, are they going to
• 46:16
  Unknown Speaker: be overnight?
• 46:18
  Unknown Speaker: The caution that I will give you is you damn well better hope that's the way your competition is looking at it. Because otherwise they will have built relationships with these people. And they'll do they'll have them at the front of the line when the gates to Disney World open. Okay. Okay. Hey, Rene, it's Bruce Do you have bom bom by any chance? I know what it is. Yeah, I was actually about to get with that. So let me hear what you're going to say. That was kind of like a the next approach.
• 46:45
  Unknown Speaker: So if you're not getting a lot of answers, I would keep calling and I keep leaving voicemails but, but I might try to tie in one or two. Not custom message messages but video messages and send them out
• 47:00
  Unknown Speaker: is individual texts
• 47:02
  Unknown Speaker: to the phone numbers because people are a lot more prone to read their texts and listen to voice messages. Yeah, that that could be a way that you get a message in front of people and they're not all going to click the link but for relatively low cost you can put a video message in the phones have a lot of people in a way that they're they're going to consume that that information pretty readily.
• 47:27
  Unknown Speaker: And you're saying bom bom because at least you can track it versus just doing a video from your phone. I'm saying bom bom number one because you can track it number two, because it compresses that video and it makes it much more easily deliverable where if I recorded a video on my phone texted it to you, it might take two hours for me to get that video out. And if I'm doing it individually to a whole list, it's gonna be really difficult but you can do it through Bom Bom and those those videos go out easily and
• 48:00
  Unknown Speaker: In seconds, yeah. Okay. And my last question was, I've seen a decent number in the last, you know, nine months of leads, where it looks like the people are keeping the property, you know that I can see the date that it was purchased. I mean, it was probably 30 years ago, 40 years ago. The family's not selling it is I don't think that's a deadly, but what kind of lead is that they're probably not selling the property and probate and we wouldn't get paid, but does that fall under some other category that we could be of service to them?
• 48:37
  Unknown Speaker: It's, you know, just like we talked about earlier in this call, and they're good, they're good folks to keep in your sphere of influence and follow up with maybe every six months, people that you can try to help with Home Services, legal services, like setting up an estate plan, they just went through probate, do they have an estate plan to prevent that in the future?
• 48:57
  Unknown Speaker: You know, they just got on average 177
• 49:00
  Unknown Speaker: thousand dollars, cash distribution. So what do they plan to do with that money? Can they can they become a private lender for your investors or for your business. So, you know, reach out and follow up with them, you know, if they turn it into a rental property especially, a lot of folks will never make it outside of that first 12 months. Because even with a property manager, being a landlord is not as easy as everyone thinks it is. There's not much passive about it.
• 49:27
  Unknown Speaker: So you know, keep in touch with them. And they you know, that they they are statistically there's a 67% chance that the house was free and clear, and who just ugly there, they've inherited an average of 177,000. But you're in one of those markets that really brings that average up, it's probably much higher if you just look at the average in your county because your your average and median net worth is extremely high and your area so they're, you know, they could be really great future future deals. If you can find
• 50:00
  Unknown Speaker: Way to make an impression and provide value to them now.
• 50:04
  Unknown Speaker: Okay, yeah more just kind of wanted to bounce that off as a as a brainstorm. So thank you.
• 50:09
  Unknown Speaker: Thank you, Renee. We have two more in the queue should take us up nicely to the top of the hour. Next up is one second I just one second. If you've already muted Renae, that's fine. I had one other thing you can do with those, Renee. In this low interest rate environment if they decided to keep a home, which in Hollywood, I'm going to assume it's a half a million even if it's a dump. But if they have a home and tell them free and clear with a half a million dollars in equity, one of the the strongest offers that you can reach out to them with is Please sit down with our lender, we can do a no closing cost one week turn around home equity line of credit at prime plus one on the quarter. So we can show you how to unlock how to turn your home into a bank into an investment account in this in this historic environment where you can do
• 51:00
  Unknown Speaker: triple the money, you know, triple the value. So you may actually reach out to them partner with a good solid community bank or credit union. Typically they have really, they're really aggressive as pursuing he locks now right now is a little bit different. You may have to look and find banks that are healthy enough that they have liquidity. And they're they're eager to write he locks. Because we're in a we're in a credit retraction right now. So it might it's not as easy as it was six months ago. But that could be a really compelling offer. You reach out to these people who chose to keep the home, but they don't have liquidity, even though they have equity. And right now more than ever, people need and want liquidity. So you could start the conversation by providing an offer of value to help them access the equity in the home. And once you do that, they're going to realize you're not the average bear.
• 51:53
  Unknown Speaker: Alrighty, next up is 800 to Europe next.
• 51:58
  Unknown Speaker: Hello
• 52:00
  Unknown Speaker: Can you hear me? Hello there can hear you great. Yes, this is Rhonda from New Jersey. I'm a rando No. Hi.
• 52:10
  Unknown Speaker: I have a seller that law he's an executor of the estate however he lost the will and he never probated the will.
• 52:21
  Unknown Speaker: So we were his mother passed away in Georgia and we needed to do a petition
• 52:29
  Unknown Speaker: to try and I guess probate or now we have to get a
• 52:36
  Unknown Speaker: What is it?
• 52:39
  Unknown Speaker: What is it that you know when you when you when you go to this state or the city you have to try to get the will probated, or I'm just trying to figure out how do you how are you able to
• 52:53
  Unknown Speaker: without going through this process, get a copy of the will again
• 52:59
  Unknown Speaker: well hold
• 53:00
  Unknown Speaker: It was it was recorded but that's not a requirement. Not every attorney will record wills and not not every family wants them recorded. It's actually more common not to I think
• 53:13
  Unknown Speaker: it you may find that if they petition the court for probate, intestate meaning there as if there was no will, then they gain access to the safe deposit box, maybe it's in there.
• 53:25
  Unknown Speaker: If they could ask around and somehow find out who which which attorney actually authored that will, as the attorney will have it on in their records. If it's a valid will, they will have kept the records but if it's been that long, and they they're not very responsible, they may not not know what law for what what law farm or what attorney actually wrote the will. So, county courthouse, the attorney who wrote it, or worst case scenario, file probate intestate and go see if it's in the safe deposit box beyond that, nobody's gonna believe
• 54:00
  Unknown Speaker: That there was a will anyways.
• 54:03
  Unknown Speaker: Okay, so you can go to the county courthouse even if you don't know the name of the attorney.
• 54:09
  Unknown Speaker: Yeah, if you know the name of the of the deceased, if it was recorded, it would be recorded under his name that you can have the clerk help you to see.
• 54:20
  Unknown Speaker: I would say it's 5050 whether or not it was
• 54:25
  Unknown Speaker: you know if I don't know if there's there's some kind of a centralized system on the back end maybe of the state bar or LexisNexis. Maybe if you speak to an estate planning attorney, ask them if they can do a LexisNexis search for a last will and testament of john doe.
• 54:44
  Unknown Speaker: You know, it might be in a big database somewhere. LexisNexis pulls basically every court document in the country and scans it and attorneys have a different levels of access than anyone else. So they have tools for you know, bankruptcy, divorce.
• 55:00
  Unknown Speaker: probate, different, you know, guardianship. So if you can find an estate planning attorney that has access to LexisNexis database, potentially they could run a search there and see if they can come up with a copy of it.
• 55:14
  Unknown Speaker: But, you know, it's it's unfortunately common for people to claim that there was a will or claim that there were two wills and the one they're holding happens to be newer. So the court is, you know, they think they default to okay prove to us that that is a valid will or prove to us there was a will, and that's really the burden of the fat might not in the court.
• 55:38
  Unknown Speaker: So it's, you know, if you can't find it, you're, you know, I don't know if he remembers what the will said, but worst case scenario, you're going to go through this as an intestate succession. And it'll just the the property will be allocated according to succession law in the state of Georgia. Which isn't unfair. Unless
• 56:00
  Unknown Speaker: When was being cut out of the will unless everything was being given to one person and the deceased didn't want everyone else to have it in the will, which is not common. chances are it's equally distributed anyways.
• 56:13
  Unknown Speaker: Well, the only thing that was in the will was is how that is going into short sale. So there's as a matter of fact it's going to be a deficit as opposed to
• 56:25
  Unknown Speaker: them the money out of it. No, don't even go on the goose chase if there's no real value there for there aren't any real assets in the estate then it is not worth doing this a lot of people let me I want to make sure you understand something a common misconception is that if there is a will probate is not required and if there is no will, those are the people that go through probate and that's not correct. Regardless of whether you have a will or not probate is most usually required. Now if you have if you have a you know if you move the titles to vehicle
• 57:00
  Unknown Speaker: In real estate and you know that
• 57:03
  Unknown Speaker: you can have a will and not have to go through probate usually because you titled properly so it had transfer on death clauses. And you actually don't have to go through probate because you qualify for the smallest state exemption, because you move the assets out contractually. So the Vout, the overall value of the estate goes down. So you're exempt from probate. But just because you can't find a will doesn't mean you're going to avoid probate or that probate is going to be any different. But in this case, because there are no real assets
• 57:35
  Unknown Speaker: Okay, so even even if he moves forward as is and just says, forget it, you know, it's not gonna make much of difference and the end result is going to be the same for him.
• 57:45
  Unknown Speaker: Okay, let's say we sell the house and he and his mother owned a house together. The sister and it was only a city it would it would be between him and his sister. He and his mother owned a house together and because they're not
• 58:00
  Unknown Speaker: You know, married, of course, the sister can claim whatever she would have.
• 58:09
  Unknown Speaker: You know, you would have to both be able to go through the process. Is that true?
• 58:13
  Unknown Speaker: But there's no equity in the home so it doesn't matter. She's escaping liability by not having her name on title.
• 58:20
  Unknown Speaker: Okay, well, they are fighting so she's if she wants to stop
• 58:26
  Unknown Speaker: falling forward.
• 58:28
  Unknown Speaker: I mean, okay, her outcome to keep the property
• 58:33
  Unknown Speaker: No, just to stop him from selling it
• 58:37
  Unknown Speaker: was out. I mean,
• 58:40
  Unknown Speaker: it sounds like he's either gonna sell it or he's gonna lose it. Would she rather see, you know, either way The house was going
• 58:48
  Unknown Speaker: exactly what she just doesn't want to anything to do with it. She doesn't want to achieve she's afraid that maybe something will be attached to her. All kinds of stuff. So
• 58:58
  Unknown Speaker: okay.
• 59:00
  Unknown Speaker: The only reason the only reason I said about liability is because his name remains on title and it's likely that that means his name is on the loan. So because his name is on the loan even though it's the mother of the mother was on title and loan by herself, then I would then neither of them would have any liability. It sounds like to me in this case the son as potentially as some liability because he was on the loan and entitled to the property that's that's delinquent. If the sister wants to get involved like it's ignorant for her to do that. She has no liability whatsoever in this case.
• 59:40
  Unknown Speaker: All right, we have one more person in the queue we saved the best for last built Jamaica Europe last phone number to begin to seven to nine.
• 59:49
  Unknown Speaker: Gentlemen, good afternoon. hope everybody's well.
• 59:55
  Unknown Speaker: quick comment, I changed my question script
• 1:00:00
  Unknown Speaker: I usually pretty much shoot from the hip when I go into an interview. But I'm always reading it beforehand in the car just to refresh my memory. And the change that I've made is to get clarification from the family, about the person that's in a nursing home as to how that nursing home care is being paid for. I referred an attorney to a client and make a long story short, they said no, they had insurance. They told the attorney, they had insurance. Long behold, his things opened up in the probate file state of Michigan came along and said, No, no, no, your 160,000 for Medicaid payments.
• 1:00:38
  Unknown Speaker: So we have pretty much wiped out the house. There's about 173,000 by the time everything was done and said, heirs got nothing and they said, Well, what can we do about it? So at this point, nothing. However, you don't want this to happen to somebody else down the road. So you may want to have other family members, talk to the elder care attorney. So at least we
• 1:01:00
  Unknown Speaker: refer it out. But that's something that I changed now to get clarification on their definition of insurance. The other two quick comments that I made, as you're talking, I think, is Bill Gross made some comments about advance of funds. I do that all the time here locally in Michigan, depending upon what the situation is. I don't do it for everybody, because I have to have a comfort level with it. And I have to make sure that I get something that I can lean against later on. And I always ask the question, and I don't care how many people were at our initial interview, the more the better. I'll ask him what's going to happen with the proceeds? Who wants to house who doesn't want to house who's going to cut the lawn, and there's a whole litany of questions, and I will pick up sometimes one or two inquiries. As a result of that I wound up loaning money to one of the kids on the deal. Don't ask me why but he races these cars.
• 1:02:00
  Unknown Speaker: Some NASCAR circuit somewhere. But he needed $35,000 for some engine part. While I was glad to do it because it was one and a half percent per month. So for me, I had no objection to doing it. And the other last comment that I get when they talk about someone wanting to become a landlord, fee, I always sit down and remind him that Michigan we have what's called homestead, non homestead taxes. And there's about a 20% difference. something a lot of people do not realize. And then I always leave them with there's a big difference between being a landlord and being an investor. Investors when everything just goes perfectly bad, or perfectly good rather, and check the positives on time. eftps go through but as a landlord
• 1:02:50
  Unknown Speaker: and your own deal what six items toilets, trash and tenants, drugs, divorce and death. And that usually gets their attention about how bad they want to be landlord.
• 1:03:01
  Unknown Speaker: So those are my comments for the day.
• 1:03:04
  Unknown Speaker: Other than that great show, as always, I definitely appreciate all your input, guys. So you have a fun day and good weekend.
• 1:03:11
  Unknown Speaker: I have the cotton belt, your language bill. So notice he said one and a half percent per month. That's how you don't say 18% interest.
• 1:03:21
  Unknown Speaker: That's good language. And I like your your, your landlord, and
• 1:03:27
  Unknown Speaker: thanks for sharing all that.
• 1:03:29
  Unknown Speaker: Thank you guys. All right. Thank you, Bill. Great way to close the call. I want to thank each and every one of you for being here today. I want to remind you, we do have our monthly roleplay call next Wednesday, June 10, at 2pm. Eastern, please come on, and let's roll do some role plays live places you're getting stuck challenges. And so I want to thank all of you for being here. I want to thank in particular those that participated. I want to challenge each of you to take one idea one thing that inspired
• 1:04:00
  Unknown Speaker: on this call, go out and put it into practice and come back next week and share your results with the group. Stay healthy, make it a great week. We will talk to you next Wednesday at 2pm Eastern. Take care guys