Latest / All The Leads Mastermind Podcast / MARKETING TO PROBATE LEADS, TURNING PROBATE PROPERTIES INTO INVESTMENTS, AND MORE! | Probate Leads Mastermind #278: The Interactive Real Estate Podcast

Transcript

MARKETING TO PROBATE LEADS, TURNING PROBATE PROPERTIES INTO INVESTMENTS, AND MORE! | Probate Leads Mastermind #278: The Interactive Real Estate Podcast · All The Leads Mastermind Podcast

• 0:00
  Unknown Speaker: Get the property stabilized, get it, get it rehab, get a renter on it, go back to the bank and say listen, I want to use this improved asset value to cross collateralize. And do a construction department loan on this lot. And then when that one bill I want to use, I want to cross collateralize again and do a construction department on the next slide. So you guys can build yourself a little, a little three house portfolio right there. And then when that's done, go a mile down the road and build your fourth one. Because it sounds like you're more interested in building generational wealth and you are making some quick cash right now is that anchor? Exactly, that's exactly what I'm looking for. Yeah, so I think I would, I would move in the direction of saving keeping the laws because it's gonna be difficult to sell a lot in this environment.
• 1:04
  Unknown Speaker: Welcome successful realtors and investors and real estate agents because not all realtors agents are realtors. nationwide. Today is Thursday, May 14 2020. And this is mastermind call number 278. We have about eight people in the queue. So let's jump right in with our first caller. First up this week is phone number ending in 5908. You're up first. Hey. So this is Deb. My question has to do with North Carolina specifically. I've recently learned that real property passes, you know from one person to another outside of probate. And I've also read some things to basically say that the executors are not supposed to be paying for things like utilities, lawn service, etc, out of the probate estate. So I want to see if you guys have any insight in North Carolina being different than the other states. And if there's any, you know, I don't know, things that we can do as far as you know, advising the, the personal representatives, or if that impacts our strategies, as far as you know, trying to purchase the properties. So Bruce is our coach and he's in the Raleigh market. The phonology I take that.
• 2:39
  Unknown Speaker: And of course, Bruce is calling back in.
• 2:44
  Unknown Speaker: He's gone. He was the one he was the one chattering although I see you Bruce. You're here. Can you can you take that one first?
• 2:53
  Unknown Speaker: Let me unmute him.
• 2:56
  Unknown Speaker: Bruce, can you sleep now back? Yeah, yeah.
• 2:58
  Unknown Speaker: I was calling back in I only caught caught part of the question. Could you repeat it? Yeah, we have a subscriber from North Carolina that had a North Carolina specific question. Would you repeat that DEP? Sure. Um, so it's kind of two part. So one is I've heard that the property transfers outside of probate. So I've heard that that North Carolina is the only state where that's the case. So I didn't know if that changes anything. As far as you know, I think we've been told Oh, you know, market to the attorneys and to even to the personal representatives and be like, yeah, I understand. You have to, you know, whatever, closes, you know, sell the property in order to pose this state. And I don't think that that's the case in North Carolina. And then my other question was about I've also heard that paying for things like lawn care. You know, even mortgage like that it should not be paid for out of the estate because, you know, the property and estate are, I guess completely separate for entities. This gives me information to elaborate on that whole situation with North Carolina. Yeah, that hasn't been my experience. My experience is that, yes, we can sell the property while it's still in the estate, and then the proceeds just go into into the estate and get settled out. So it could be that, that the attorney that was working on this particular probate did transfer it out. That it's possible that that was just the individual attorney. So in the in the closings that I've had, I have had the estate pay for lawn care pay for clean outs. So I'm not sure I'm not sure where that North Carolina specific information came from it was that from an attorney. Yeah, I'm gonna actually also have an attorney with website and then the other part was also from the clerk I called the clerk and talked to him and he you know, he a couple of times said, you know for keep in mind that the real estate passes outside of probate in North Carolina. Yeah, we've passed we've passed it inside of probate which county is this?
• 5:21
  Unknown Speaker: Wait.
• 5:24
  Unknown Speaker: It's in wait. I have real estate inside of probate in Wake County. Chad if you have you had anyone with a different experience in wake? No, it's my understanding is it's not really any different in North Carolina. I have not closed a deal in North john myself. But we have several customers there and we have for years. I think what you you may they may be talking about an exception. So if it's a surviving spouse situation where they held titles as tenants in the entirety of Especially with rights of survivorship, there's basically a transfer on death clause that that will help so they can, they can avoid the asset, that asset won't be part of probate, because it has a contractual transfer. However, regardless of that, the all the variables are pretty much the same whether the probates inside or out the the the motivation variables are still there. So the property holding costs and maintenance issues, the personal property struggles. We know that statistically, regardless of how title was held, like statistically senior citizens, 80% of them own real estate and 80% of their net worth is in real estate. So even with a trust, a trust is not in any way associated with probate, none of the assets but the families still need the same service because they need to liquidate assets for the top to maximize equity and minimize stress. So even like in states like Texas, they have a provision called monument of title that will let you carve the house adjust the real estate out of the estate but it still people are still super motivated to sell so in my experience I mean it can be done inside of probate I'm guessing you they may have been discussing an exception with you But regardless, the motivation is still there all the all the social aspects of this situation don't really change even though the legality may
• 7:30
  Unknown Speaker: go ahead, go ahead fence
• 7:32
  Unknown Speaker: fence on in the triangle market as well send me an email at Bruce at all the leads calm and I'll get with the couple of the few Estate Attorneys that I work with.
• 7:45
  Unknown Speaker: And okay,
• 7:46
  Unknown Speaker: see, see if they're if they're hearing anything like that, but I've personally
• 7:50
  Unknown Speaker: sold
• 7:52
  Unknown Speaker: probates inside of the estates so
• 7:55
  Unknown Speaker: I'm not sure exactly what they're talking about. I'll ask a few of the attorneys. I have in a respond to you.
• 8:01
  Unknown Speaker: Okay, perfect. Thank you so much.
• 8:04
  Unknown Speaker: All right, familiar name up next phone number ending in 6248. You're up next, Joyce. Good morning. I have a quick question. I am making my calls I have run across a person that has Google Assistant answer their phone. And I've not encountered Google Assistant before. And I was just wondering if you could tell me about that. And if I should leave a voicemail with google assistant or what?
• 8:42
  Unknown Speaker: I'm not sure either. I don't I don't have any I've never used Google Assistant. It's so that's an AI driven, you're probably calling a software developer. I don't have any experience working with it. So I don't know what advice to give you. But I mean, if they've if they've built a tool to receive To receive their voicemails and yeah I would recommend what probably happens is you leave them a voicemail it has an if then that If This Then That process that it does something with that voicemail so it probably transcribes it sends it to their assistant or something like that. But I would if you know if it's I don't think there's any risk in it like if he hit that again just leave a message and see what happens might be an interesting learning experience.
• 9:29
  Unknown Speaker: Okay, thank you.
• 9:32
  Unknown Speaker: Very good. We have a small group in the queue today guys we got point we've got four more and there's plenty of room we got a good turnout on the calls. So don't be shy. Hit star six and hit one and you'll be up next. In the meantime, is phone number ending in 0727. You're up next. I've everyone's doing this is Jonathan Hawkins originally from from Dallas, Texas. How are you guys doing?
• 9:58
  Unknown Speaker: Great john. How about you
• 10:00
  Unknown Speaker: Doing great doing great. All right, so I have a couple of questions. First question I want to bring to the forefront is a property that my mom and dad owned. And my father's now the Steve's mother's now remarried, and she has seen her new husband and purchased a new home. And the old home was just sitting, there are old properties, four of them to be exact, it's just fitting, you know, and three homes have been cleared away off the property and the house that we grew up in, is there and she said, you know, you got to really do something good to your inherited property. You know, when I pass will be yours. You should really do something with it. And so I said, Okay, now the problem. Here's my plan as want to make sure I want to bounce it off Chad and the rest you guys make sure that I'm in alignment. My plan is to actually take the property ever deeded over and into la interest. Have the attorney and the attorney be the trusty gold, my brother, my sister not would be involved with that. And we would then get some equity out of the home, fix it up and then lease it.
• 11:13
  Unknown Speaker: Amount am I?
• 11:15
  Unknown Speaker: If that's the path I should go
• 11:19
  Unknown Speaker: Yeah, that sounds sounds good. I mean, if you're you guys gonna put your you said get some equity out of the home. So do you are you thinking you're going to refinance it before construction? Yes. Okay so then the only the only hole in your plan is probably the land trust. community banks sometimes will understand land trusts and be comfortable with them. But most lenders won't actually do a cash out refine unless you roll the title back over into an entity or in a person's name. So the only the only fault that I can find on your strategy is that the land trust may cause you issues on your refinance. So The other thing I want to clear up when when your father died your mother probated his estate when they were to vote well they were divorced when he passed and so now it's his estate probate. No, no, he, okay, then you're going to well, that means Okay, so he was he got some small estate exemption. Uh huh. Right. Okay, so title has transferred from your father, to your mother. Correct. And you and your mother is offering the quitclaim deed to you. So you so you guys can go do something with it? That's correct. Yeah. So other than I would probably because you're because you're relying on a cashout refi for your rehab budget. Probably just form an LLC with your siblings. Uh huh. And because it's going to be a rental property. It's that's the easiest way you guys get the most legal protection. So form an out form a Texas LLC with each of us 3333 owners and having an attorney write the operating agreement, and then go open a bank account for the LLC, each of you can fund it with $100 each or whatever you choose to get yourself an AI n number for that. Because if this works well for you, you guys may want to use that company, you may want to use the profits from this property to buy the next property right, or the equity in this property to buy the next property. That that's exactly what I was thinking and Okay, so even though my brother and I are in Texas, properties in Mississippi, have you ever dealt with Mississippi before? Is it a smooth thing? You think? Yeah, I think most of the southern states are pretty easy to deal with. With It is not that complicated. So, I mean, you've got a good strategy, I would travel I think the land trust, we'll give you an issue on the refi if you're going to read if you refi through a community bank, They may be okay with it. Because if they work with real estate investors, they understand that's a common tool. They just, they just don't like it because they can't see your assets. If you default. It's hard for them to find you and come after you. That's why they don't like them. So I'm off 90% of the time the bank will make you roll the asset out of trust. And you can always you can always close in the LLC name, get it refinanced, and then roll it back into the trust and they will probably never know. But you have an LLC, you have you have the protection of the LLC anyways. So you probably don't need that if it's just for a single property. JOHN, you mentioned I think I heard you say there was three other buildings or structures on the property at one time, were they on separate lots or was just all four of them on one lot. The main property had to the main property and then two smaller rental properties beside it and then there was another property about a mile away, across the street from my grandparents house and see the rear those structures have just been wiped away because they were, you know, they were old. And again, the lot, you know, I left Mississippi, my brother sister did to my parents got older. And so being you have deferred maintenance until the facts of the houses just Wargaming weren't any good. Yeah, my, my thought was if if if two of those if the other two were on individual lots, you might be able to sell the lots off and use that as capital to, you know, to work on the house, if they're all in life. And that probably wouldn't apply. But you might want to look into it and see how many building blocks you have there is it one or the three? We can actually put there are two other lots that are beside the house there besides writing house, then we can we can potentially even still build a house on the bed with the case. Right? And then there's another property that's a mile away. That is just it's just reinflates dirt. It used to be property there is this red clay dirt system, nothing. Now when probably we could go, do you still have and where are the other three properties? We're in on the adjacent lots where there was at well and septic or was it public utility?
• 16:15
  Unknown Speaker: public utilities.
• 16:18
  Unknown Speaker: Okay, so I think
• 16:21
  Unknown Speaker: rather than selling lots, what I would suggest is get the quick claim, do a light cashout refi don't take any more money than you need to do your construction. Get the property stabilized, get it, get it rehab, get a renter on it, and then go back to the bank and say listen, I want to use this net improved asset value to cross collateralize and do a construction department loan on this lot. And then when that one bill I want to use I want to cross collateralize again and do a construction department on the next slot. So you guys can build yourself a little a little three house portfolio right there. And then when that's done, go a mile down the road. Build your fourth one. Because it sounds like you're more interested in building generational wealth and you are making some quick cash right now is that anger? Exactly. That's exactly what I'm looking for. Yeah. So I think I would, I would move in the direction of saving and keeping the loss because it's going to be difficult to sell a lot in this environment. But it sounds like they'll serve your family better long term. So build the equity up in the one you're being given. And then use that to collateralize your next one, and then use that equity across collateral. The next one, the next one, and by the time you get done with those four, you guys will realize you never want to be a landlord again. Are you ready to go out and start doing start doing this? You know, bigger? Well, you know, good. Yay. It's, you know what? That's a I am open to a lot of different things right now. But I do want to do better with what we were given. So I want to build on that. And generational income, generational wealth. is also my on the mind front for you know, and I'm the oldest so I have to show my brother and sister how to do this. So
• 18:07
  Unknown Speaker: yep great idea man.
• 18:09
  Unknown Speaker: Man you've got a good strategy
• 18:13
  Unknown Speaker: All right, next up is phone number ending in 4361 you're up next. Write complicated stuff you guys are doing today I just did a simple question
• 18:26
  Unknown Speaker: we have simple answers also no problem.
• 18:29
  Unknown Speaker: Yeah, well, makes me feel inadequate to like
• 18:34
  Unknown Speaker: understand the answer, let alone the question. Now.
• 18:38
  Unknown Speaker: I have actually my I'm very excited. I actually got my first good lead. Yesterday I was thrilled about it. And I've been you know, I lost for a little while and a bit development from phone calls and I'm getting into a routine. I'm happy about it. But I did run into A call I had a very good exchange, you know, you're good, you feel good about the call. But it was a living trust situation. And I probed around for other, you know, referral possibilities. But really, there's not much you can do when somebody's got delivery trust and are going to live in the house.
• 19:27
  Unknown Speaker: I think now,
• 19:29
  Unknown Speaker: you see what I missed? Well,
• 19:34
  Unknown Speaker: if they have a living trust, they most likely already have a financial services professional. And if they if they plan to keep to just stay in the property, I mean, maybe you can connect them with you know, with some of your vendors like for lawn services or you know, just maintenance issues or contractors, but there's not a whole lot you can do there. Some people just don't need our help. Some people are very proactive and have proper plans in place and there they don't have any motivation or urgency because they took care of that years ago. Kim you certainly could put them in your sphere of influence and just treat them like a past client or, you know, serve influence and just contact them occasionally see if anything's changed because this situation will change eventually. Well, what confused me is I'm making a phone call based on people who are ever named a probate representative. Right? They have a living trust which I had with my dad we had that when my dad died Ella's grave just switch signatures and took over. But what would be the prob reasons for the probate. They didn't properly fund the trust. So either something was left out when they funded the trust or they purchase something and after the trust was funded and forgot to title it and funded over Under the trust, it's very common. I mean, like Walt Disney's family did this and they're still fighting over something. Steve Jobs had this as part of his estate. There are several high profile, you know, very wealthy people who they'll set up a trust maybe in their 40s and 20 years later, they just, you know, on a whim go out and buy an airplane or an RV or something that's above the smallest state exemption value, and that one asset triggers probate on your it has to be probated. Everything that was properly funded into the trust does not have to be probated, but whatever it was that wasn't properly funded in has to be probated. And what do they do just confirm that the guy had the asset nor any money What what? What is it? Yeah, well, I mean, they'll have to go through, you know, the, the whole process. So let's just say it's my retirement account, and Like an annuity that didn't have a transfer on death, and they didn't know about it, Dad forgot about it, he passed away thinking everything was fine, which is usually the case. So those annuities for $250,000 the Trust has paid all the bills and continue to do that. But because that annuity is higher than the smallest state exemption, that means that that has to be probated. So the list of errors, the list of assets, the only asset that would be listed would be that annuity. Everything else is in the trust, they would have to publish. Leave it sit open for four months, and then go close it up with the final accounting. So it would be efficient process but it would still take a minimum of four months, because it would require that notice the creditors to be open now in in theory that the Trust has probably been paying the bills and has already settled all the liabilities. So it's likely that none of those creditors will actually He filed against, you know, against the probate. But if they do that $250,000 some of it would be used to settle those liabilities outside of the trust. But you it's gonna delay them, they're gonna have to go through the motions and have at least at least be involved for four months. Just for that what whatever was left out of the trust. Okay, thank you much. All right, next up is phone number ending in 8213. You're up next. Are you there? 8213 looks like Maryland number for you. There you are. Good. Luck fans. How are you all as
• 23:45
  Unknown Speaker: well? Okay. I have muted myself. My apologies. No
• 23:47
  Unknown Speaker: problem.
• 23:50
  Unknown Speaker: One quick question regarding the next probate mastery. Do you guys know when that's going to take place? I'm looking at the last day We've been running on a schedule the last week God haven't kind of get a calendar in front of me. That is the I'm looking the 25th six, seven.
• 24:12
  Unknown Speaker: Okay, cool.
• 24:16
  Unknown Speaker: Yeah, I did it last
• 24:18
  Unknown Speaker: last month, but I'm trying to get
• 24:20
  Unknown Speaker: an associate of mine on board. And I told him about it. I said, Look, you got to get into this. So is he allowed to sign up if he's not part of all the leads? Or does he need to be a
• 24:33
  Unknown Speaker: member?
• 24:34
  Unknown Speaker: Yes, in order to sign up to
• 24:35
  Unknown Speaker: mastery. Now you can sign up for mastery first, a lot of people do it today. Like if he signs up now. We'll send him the recordings from the class you're in. And he can get started. He can get started and go at his own pace he would like or whenever we register sessions, he'll be registered in for the live sessions where they set the date times up, you'll get the recording from the previous class, okay, so then I can just have him call all the leads and then request the signup because I
• 25:06
  Unknown Speaker: see on online it doesn't give the due dates
• 25:09
  Unknown Speaker: yet. So maybe he could just
• 25:10
  Unknown Speaker: Yeah, he can he can use that button. He can use that button, sign up, and it'll go ahead and send him he'll he'll get everything.
• 25:21
  Unknown Speaker: Okay, cool. And then my other question
• 25:23
  Unknown Speaker: is, so Okay, so I got
• 25:25
  Unknown Speaker: my
• 25:27
  Unknown Speaker: I got my letter done to send to the attorneys.
• 25:30
  Unknown Speaker: Um, I'm just wondering, do I catch it? Am I cool to just send this one out? First thing, just kind of get the ball rolling because
• 25:38
  Unknown Speaker: I don't really want to be waiting too long.
• 25:40
  Unknown Speaker: Instead of also having all my other letters ready.
• 25:44
  Unknown Speaker: Because I was told
• 25:45
  Unknown Speaker: when I spoke to someone on the phone that I should have,
• 25:48
  Unknown Speaker: I think at least a follow up letter as
• 25:50
  Unknown Speaker: well. I don't have that ready. So I figured maybe I can get this one out. First, get the ball rolling with a call to just kind of get my feet wet with prospecting and all that stuff and then move forward. What are your thoughts as coaches? None better than perfect. All right, okay. Okay, cool. Cool. Cool. All right, thanks. I really appreciate you guys. All right, next up is phone number ending in 6338.
• 26:19
  Unknown Speaker: Guess Jeremy?
• 26:21
  Unknown Speaker: Yes, sir. That's Chad. Right?
• 26:23
  Unknown Speaker: Yes, yes. Hey, Chad.
• 26:26
  Unknown Speaker: Hey guys, I'm I'm calling the leads that are provided and pumped up against the same scenario, the same scenario a couple times. And I don't know if it's a one off or what but the first question has to do with the personal representative that I called hidden. No, there was even a probate filed happened twice. Yes, I know the deceased. Now my one case was my husband, but there shouldn't have been probate files. And I'm wondering if this is a common thing or wishes. fluke. What do you think the situation? Was there?
• 27:03
  Unknown Speaker: A market? Are you in
• 27:05
  Unknown Speaker: California? So
• 27:10
  Unknown Speaker: the personal rep was the person like it was the Jane Doe, you were trying to reach, right? She verified that she was married to the john doe. That was deceased.
• 27:20
  Unknown Speaker: Yeah, that's right.
• 27:23
  Unknown Speaker: And she wasn't aware that she was listed as the personal representative. Right. So she was aware there was a death. She was aware that there was a living trust. She was aware of the attorney that was involved listed. But she said that attorney should have never filed probate. I don't understand why they file probate. Trust. And so this sounds like what we talked about earlier, whoever whoever formed and funded the trust left something out. And the attorney went ahead and did what he knew needed to be done and probably didn't properly communicate that with her. So she has she's administrating a trust and now the heart attorney has initiated a probate because it was necessary and he probably just didn't communicate that to her. Yeah, that's that's kind of what I figured I told her that's what I thought was happening. I just wouldn't so apparently you could be named as personal rep and not even be informed. In other words, she didn't find anything thing and she agreed to it, you name so that's why I was looking for details. I've seen this happen in Colorado where real estate investors from Arizona, were actually filing probate for for for estates and naming like surviving spouses as a personal Rep. And our people called them and they're like, What are you talking about? Yes, he died. I haven't done anything. And they just freak out but and rightfully so. And what we found out is actually the petition was submitted from from Arizona, and the Colorado, the clerk accepted it and open probate on the estate. The personal rep didn't even show up for the hearing because she wasn't aware of it. And she was appointed and had the authority. And the letters had been sent in the mail. And so it's there. There are some folks out there that that basically push families into probate so they can reach out and try to try to buy their houses. I've I've only seen about that in Colorado, but it doesn't sound like that's the case. The one you're working on, I would say because there's also a trust and parallel. That attorney discovered when he was when he was looking through the estate, he discovered something worth more than $100,000. That was not property of the trust. So he has to do both now. I figured writing in my my second question. I noticed a couple of personal reps that were lifted are also the attorney's office is in question Is this normal? Usually that's a that's a fiduciary in California. So it usually means nobody from the family stepped forward or the family got into a conflict, the judge sidelined everybody and said, we're going to have a fiduciary, you know, administer the estate. So those are really good ones to reach out to because it's a b2b transaction. It's just everyday business. for them. There's no emotion involved, their job is to get the file off their desk and get paid. So you definitely want to reach out to that person that can be an evergreen source of referrals for you just like an attorney. And if you want to learn more about that you can actually join What are you in Southern California? Yeah, Northern Southern. Yeah. So around la San Diego, like there are fiduciary groups, basically networking groups where they meet once a month. It's an association, but you can pay like 325 bucks for annual dues to be an affiliate member. You don't even have to Be a fiduciary, but you can sit in on those meetings and find some way to bring value to them, like find some way to, you know, just give a presentation to say, you know, here's what we do in our real estate company to really provide value and interact the business. And for you guys being willing to include me in this, I'd like to share my business model with you. So you can consider building this in your own business. Now, we know when you when you build a really, when you have a really successful business plan, you can hand it to 100 people and maybe one of them will actually use it. So you get the perceived value of of showing them behind the current the under the hood of your business, like look what you can do to but knowing that they're very unlikely to do it. But they're gonna be like, they're gonna, you're gonna you're going to be pitching this as Let me show you how to do this and your business. And they're going to look at it and go, that seems like too much work. Let's just send our deals with that guy. And you'll you'll get the referrals off of it. So joining those fiduciary rules. can get you in front of a lot of those people. Once a month.
• 32:04
  Unknown Speaker: We have one of our subs out there has been with us since the beginning, Bill bird that has just made a career out of that he's last time I talked to him. He had made like three quarters of a million dollars in one year. He he started specializing in the fiduciaries and they started sending him referrals and then something that he didn't expect. He said a lot of the probate judges also handled divorce, he started getting referrals from judges on divorce cases, because he was the judges seat
• 32:32
  Unknown Speaker: in front of him somebody types of probate cases. So
• 32:35
  Unknown Speaker: those are those are ready to leave. He gets all kinds of divorce cases like that. Yeah, that's a great opportunity. those are those are high value leads for sure. I'll look, I'll look up those fiduciary groups. In the meantime. You know, just curious if I reach out to a personal representative and the you know, it's listed as take up Law Firm
• 33:02
  Unknown Speaker: do I do I,
• 33:03
  Unknown Speaker: you know, the pitch is obviously gonna be a little bit different than then when I'm talking to a regular person gonna be more like you're more like your attorney pitch. So, you know, their task with 75% of everything on the attorney is doing 25% there, they still have to do the other 75%. So if you can show them a way to plug into your service, then neighbors, they basically become a middleman, they get paid for your team will do all the work. The attorney is going to do the legal aspect. They're kind of just doing the accounting and being the middleman. So you can show them how you can take all of the workload off of their business, but they still get paid the same and you only get paid for what you do. Your vendors get paid for what they do. So it's similar to the attorney conversation, you want to show them how your service directly complements there's and isn't is an everybody services and the best putting The best interest of the estate first. And you can do these, you can shorten the timeline and increase the equity. By, by by by using the systems and team you have in place. And that's certainly of interest to them because they are they have an overwhelming amount of files. They don't they don't give it 100% on any of them. So if you're showing them how to close those files more quickly, and retain more equity for the fat for the estate, they should be all yours.
• 34:32
  Unknown Speaker: All right, appreciate you guys.
• 34:33
  Unknown Speaker: Thank you, sir. Next up is phone number ending in 0883. How you doing Jim? Hey, Jim doing good man. Got a real simple one. I just saw your post yesterday about your wife and just wonder she's still doing good and, man that's. I've never heard that happen before. That was strange, but thank you. Yes, she's doing doing great back. I say she's back to as normal as she was. To start with so she's back to normal with that we can't we can't have it even have the hurt that she's gonna hand all these shorts all the short sales. Now she was she was back the next day. Thanks for asking Jim. Okay, good deal, like right. Oh, that's it. Hey, Jim. Before, Jim, before you go, I've got you on my calendar two times. I've got you at three to four and four to five. Which of those are we doing? is three o'clock Central. So the four o'clock your time. Okay. Thanks for that. All right. Always good to hang in there, buddy. Always good to talk to you. Okay. Next up is another familiar name in the panhandle of Florida. Dennis followed us here up next.
• 35:48
  Unknown Speaker: Hello there. hope everybody's having a blessed day.
• 35:51
  Unknown Speaker: I just got our
• 35:52
  Unknown Speaker: credibility site up and running and it looks really really good. And just kind of wondering what is the best way to my Get this website. That's that. Well, direct mail is really the best way to put it. Okay, that's the best, just so you understand the sites aren't built to index and rank and convert. They are credibility websites. So we want to kind of discreetly have something there where only the people who receive our marketing message can go do some due diligence on us. So it's not merely meant to rank on the first page of Google and drag in all kinds of leads, because we already know who the leads are. We're our intent is to get those leads to our site. So it kind of becomes an extension of our letter and our reputation. So one of the best things you can do to add value to the site for the traffic that you're already getting there is do a really good job blogging. So go to the county court and learn what the judicial backlog write a blog, write a blog post about it. Go sit down and interview the probate clerk and do a video blog with with her the you know, talk to local attorneys anything that you can think about if I was a personal representative, where would my blind spots be? Those are great blog content posts. And the more you do that, the more the more SEO you'll have naturally, but also the more valuable information you will accumulate. So when people do come to your website, and they see you and a picture or a video with the probate clerk they just met last week. They're gonna like, do you have credibility, then? They're like, Well, here he is in the courthouse right where we were, this guy must know what he's doing. So anything that you can do, like, I love video blogs, and they they do really well. And testimonials like each time you help a family make a blog post and tell the story and then do and then embed a testimonial video and you know, and bring that to The front page like say, you know, you can you can use widgets and actually bring your latest posts up onto the front page of your website. So people start to see that. So that's if you really want to add value to the traffic that you're already getting from the way we're getting it there. The blog is really the best thing you can do. Also, like about pages, like if you do it like I recommend a lot of people go stand and wait for a quiet day like a Sunday morning when there's no traffic, set up a tripod or have somebody video you but stand in front of the county courthouse where you can, it's obvious what where you are. And they've been there. They've had to go down there in the last 30 days. So it's something that's going to catch their attention, but stand in front of the county courthouse and tell your story, just like you would talk to the personal representative. Hey, my name is Chad. I'm standing here in Roanoke county. We have a service where once a month we come down here and meet with the probate clerk find out which families are going through probate and we proactively reach out to We know we can make such a huge difference. There's some FAQs below on this site, please read through those my numbers above please give me a call, let me know if there's any way we can help your family. And just a short video that goes on your about page. So things like that and just just add a lot more value to the traffic. We, you know, we pretty much use the direct mail to generate the traffic. And we don't want our competitors seeing it. We don't want it ranking on page one of Google.
• 39:29
  Unknown Speaker: Anyway, that's my take on.
• 39:31
  Unknown Speaker: Okay, so obviously put the with the website, the new website on our letters. Yes. So what I do is I put a PS line and on every letter PS if you're not ready to talk to anyone just yet, but you'd like to learn more about us, go to domain. Okay. Right,
• 39:50
  Unknown Speaker: and check appreciate that point.
• 39:52
  Unknown Speaker: To to Chad's point, the PS is one of the most powerful marketing tools that I've ever used. Just adding on to your emails, your letters, different things like that, listing out different ways that you can help people and different different services that you offer. So if you're going to put a PS, yes, put the credibility website and in line one of your PS that you might, depending on whether your letter spells everything out that you offer, you might want to consider putting some of those into the PS is bullet point. I've had a lot of success that way. Right. All right. Thank you. All right. Excellent. got three more in the queue. That should take us nicely up to the top of the hour. Next up, is phone number ending in 5167. You're up next.
• 40:46
  Unknown Speaker: Are you there? 5167.
• 40:51
  Unknown Speaker: unmute yourself.
• 40:55
  Unknown Speaker: All right.
• 40:56
  Unknown Speaker: 562 area code one more time, on mute. yourself. Are you there? All right, hit star six and hit one and jump back in the queue. We can't hear you, Chad. You're there, right? Yeah, I was getting quiet. I wanted to I wanted to do it like an umpire. You're funny. I was a Semi Pro umpire in my younger days. You never do that. So yeah, I could have given you a good. You're out of here for sure. All right, next up is phone number ending in 2353. You're up next.
• 41:31
  Unknown Speaker: Yes. Can you hear me?
• 41:33
  Unknown Speaker: Yes, we can hear you fortunately. Yes, sir.
• 41:36
  Unknown Speaker: Oh, great. Great. Great. Yes.
• 41:39
  Unknown Speaker: My question is regarding. I've got a few situations where I've made contact with the PR. Set the appointment, got over, met with the people and attempt To You know, basically close on them to get the listing I'm I'm an agent and here in California and you know, interesting like on three different occasions when I get there I'll find the folks out cleaning up the yard or moving things out of the house you know kind of getting things in order and I'm thinking maybe that I could get the listing but they just kind of you know, give me the stall they're not ready right now. They're just kind of doing things on their own. I tried to offer help, you know, with a, I have some clean out people I have a great team of movers and I try to offer my services but you know, I get to stall. So in this is they don't really tell me no, I'm not interested. Because they did set the appointment, you know, and I went out and visited with him, but I'm just wondering how can I, you know, get them off the fence, you know and get them to
• 43:14
  Unknown Speaker: move forward.
• 43:17
  Unknown Speaker: So here's rate and probate. Here's the other thing though. Chad I was gonna say is they have petitioned for the administrative ship and I don't think that they actually have gotten that here in in California because they because of the courts being having a moratorium they have not. I don't think they've gotten there. They're
• 43:47
  Unknown Speaker: just lettuce mentoring
• 43:49
  Unknown Speaker: and acceptance for the administrator ship yet. So what market are you in? California? Yeah, but what City, Los Angeles Yeah, so you're there's about a four month delay, it seems, and most Los Angeles courts, and that's one of the challenges we're going to face like one of the things you can do is you can get a letter of intent, just so you can get some sort of a mental commitment. We all know an LLM is not worth the paper it's written on. But it is a very good first step, right? Like they feel like they made a commitment to you. So in this four month period, while they're waiting on their confirmation and their letters, you know, they might hear from 50 people, but if you found any way that you can to provide value to them, other than listing the real estate, they're going to remember that if you if you can get them to sign a letter of intent, before you provide them services, just to say, you know, guys, listen, normally, we engage we put a strategy together, we move forward. And the way we protect our you know, our work because we don't ever get paid until we've done exactly what we promised. We just ask that you give us a commission. meant that we are actually going to get paid compensated for the time we put into this because when we dig in, it gets done. But in this environment, we can't do everything. What we can do is put things in place that help you guys get ready. So this is just a simple letter of intent that basically says, here's what help you need and here's what I'm committed to providing for you. And one of the lines in that letter of intent says, you know, we intend to list the property with ABC realty brokerage at a future date and yada yada But anyways, in their mind, you're still you're still handing them a blue pen and saying, Please sign. There's been press harder Today I brought two copies. But you they walk, you walk away with something signed, they have something they remember they signed. So if competition comes in over that lag, period, they're like, No, no, no, we've got it handled. We have a guy and you're that's about the best you can do right now. My advices to as far as finding ways to provide value to them. You know, you can inventory the property, you can you know, use like the Red Yellow Green sticker. You know red is red is don't sell the family's keeping yellow is donate green is sale, and then stays those things like in a garage or somewhere you can you can do some things that will get them ready. So when they do get confirmation and have letters, they can go, they can move forward and so you know, and they'll be more prepared. So you can show that you're proactively helping them get more prepared and that you can use the analogy of you know, Disneyworld, they've been closed for three months. And you know, the line is normally 10,000 people long and in the morning when you when they open the gates, well the courts are even worse than that. So would you rather be at the front of that line or just getting off the tram whenever these things whenever we get back on track and kind of show them that that you know this by doing nothing, they're just Making it last even longer, even though it's got an unusual long delay now. And that's about all you can do right now. We're kind of at the mercy of the courts. And just my my prediction is that the courts are going to be forced whether they want to do it or not they're struggling with with local government budgets are in the coffers are empty right now, because the sales tax is so far down. But hopefully as we reopen the economy, those those taxes will replenish the funds and they'll be able to afford to offset and put a virtual court environment in place that will run in parallel with your physical court environment. And it won't actually be a four month delay, we'll be able to chew through it more quickly than that. That's our hope. The only other thing I was going to go ahead and add something when you're done. Just Just find any way you can to help them see if you can get them to go to a letter of intent and staying engaged with them as the best we can do. Yeah, I was just gonna add If you can't get them to engage at all now you did you did a good job getting them to agree to meet with you I would just be extremely efficient on lead follow up I someone like that I'd probably call him or stop by every week until I used to do that with fizz bows people say to me by God you get a call me every day and I kind of suddenly say well there's one way to stop that you know, list your house with me and you'll never see me again is it make them laugh, I mean, but get provide do an extremely good job of follow up and keeping in touch with them even if it's just a 32nd check in once a week because it guarantee your competition if anybody else got the appointment, and they got put off like that, they're probably going to give up a lot sooner than you. So you know, just be be be able to keep in keeping in touch with them.
• 48:50
  Unknown Speaker: Yeah, and now actually in the in the metropolitan area of Los Angeles. We were restricted on an on any type of face to face so I'm actually now trying to stay away from them from that area but I figured question just wondering is there is there has the script sort of changed a little bit we kind of critique did for the ones that I am calling this like, Well, I'm not doing anything because you know, we're, you know, the court as a shutdown with my script here, that script but as I kind of tried to, you know, a modernize my conversation to fit more with the Kovac 19 situation. Is there any additional verbiage I couldn't use to kind of, you know, get them up off the off the fence here. So the last the last two roleplay calls, we retrofitted everything to fit this environment. So, I would say Listen, you know, listen to the, the April. I think we did it in March as well. But those are generally the last, the last two roleplay calls and you'll get some ideas of some of the suggestions we've made of how to, you know, make it a virtual appointment, how to prepare them virtually without contact, how to convince them the price ahead of the market, because we're very likely to see price corrections. But that in your in your specific market, you don't want to shine too much light on the fact that that's a market that, you know, they stand to lose equity because until they get their letters, we can't do anything about that. Other than rent the property we can they can put a tenant in there and lead plenty of cover their cost, but they also need to understand the risk associated with that with a with a But seemingly never ending moratorium on eviction, that could, you know, it could make their situation worse if they don't properly screen tenants. So it's just, you know, some of the things I mentioned in those role plays where I'm using kind of economic and the economic environment to create urgency to get them to move out of the probate, quicksand get their house on the market. And we can do it all virtually. Just be careful if you're applying that same pressure in your market. Because if they don't have the letters, you're going to create more stress for them because they can't do anything for four months. I can't sign with you, you can't help them. So just be aware of that as you listen to that. That's kind of blanket advice that works in most most every market, that you're in one of those where probates very common. You have massive, you know, even though you have 10 courthouses, they seem to be massively backed up. So, in Chatham County Calls like those. Yeah, in my coaching calls I've had a couple people tell me they have effectively used that Disney World Fastpass example that's something Disney World or Disneyland. It's something that people can really relate to. And it makes sense.
• 52:13
  Unknown Speaker: So that's just
• 52:13
  Unknown Speaker: kind of a shortcut answer that does really does work. All right, well, possibly last up this week is phone number ending in 994 to Europe.
• 52:26
  Unknown Speaker: Hey, hi. How are you?
• 52:28
  Unknown Speaker: Great, Tom. How about Jeremy?
• 52:30
  Unknown Speaker: Yes, sir. I'm good. I'm good. Hey, the reason
• 52:33
  Unknown Speaker: I jumped on was because I was listening to you talking about blogs. And I have a website set up, he had valid probate services. And we're in the same situation as the last caller. We can't visit with people at all. We're not allowed to do any what they call real estate related activity, because we're not considered a central and seems like a good time to do things like go out and blog, or was this clear enough and stuff? Where would I put that in my website? Because I don't I don't really see a spot there for it is that we build your site? Yes.
• 53:14
  Unknown Speaker: So if there's not a log,
• 53:17
  Unknown Speaker: and in the menu, you don't blog or news or anything like that.
• 53:22
  Unknown Speaker: It's not turned on by.
• 53:25
  Unknown Speaker: Okay, I'm home about a week and we can
• 53:29
  Unknown Speaker: we can help you like that, like, we just need to add a post page and then then you'll be able to do
• 53:36
  Unknown Speaker: okay, cuz that sounds like a great idea.
• 53:40
  Unknown Speaker: Yeah, so if you just read out the call, the main call the main number or email supported all the leads, and one of our team members will get you taken care of. Sounds good. Okay. And then I would just post to that like I would. I have a number of different websites and most of them have a blog
• 53:55
  Unknown Speaker: component that I can just
• 53:57
  Unknown Speaker: put stuff up or is there another way that They would do that not us go in click Create new post put in your title put in like millet. Have you ever used WordPress before? I think I tried to use WordPress it confused me so I stopped using it. And just okay well there's there's tons and tons of video tutorials you can just go to YouTube and say you know how to write your first WordPress blog post and a million things will pop up so it's there's a it's an open source community so there's lots of good information out there but once we get it set up for you can watch a couple five minute tutorials and if you use sounds like you have experience on their web platforms, it's it's really not that difficult. You'll roll right through it.
• 54:46
  Unknown Speaker: Very good. All right. Chad, do
• 54:48
  Unknown Speaker: you have to be often to or should we take one more call?
• 54:52
  Unknown Speaker: No, I'm good this week. I'm I'm okay.
• 54:54
  Unknown Speaker: All right. All right. Next up is phone number ending in 5167. Hello, can you guys hear me sir? Yes, sir. Hey, this is Jeff Lerner from SoCal. How's it going guys? So I wanted to jump around with, with some of the some some marketing strategies.
• 55:14
  Unknown Speaker: Anybody having any success with
• 55:17
  Unknown Speaker: creating data from, you know, from data sources and creating custom audiences and social media platforms like Facebook, just promoting, promoting the services, the importance of, you know, a trust and a will, and maybe trying to get some business for an attorney that you partnered up with if they don't have a trust? Here are some things to be concerned with. If you're planning for, you know, whatever,
• 55:45
  Unknown Speaker: whatever you could good to create
• 55:47
  Unknown Speaker: curiosity. I was just wondering.
• 55:52
  Unknown Speaker: Well, here, I mean, you're making your money on real estate, right? Yeah. As I would right And so yes, Facebook can be really effective if you're very local about it with something we tried to do for you, and it just doesn't scale well without kind of hyper local, creative. So there's a couple of mastermind calls from earlier this year where we talked about this in long form. But essentially you take your probate list, you go in and create a custom audience you match on first name, last name, address, phone number email. Because of all the data we have, we can usually get 85% or higher match rates, which is phenomenal. If you've ever dealt with custom audiences, like we get incredibly good match rate. So that becomes your audience. What what I find to be most effective video ads do really well so come up with just a short like really simple, you know, solid color background. Are you the executor administrator of an estate, and then fly that out and put something back in You know, did you know there's a team here in the community that helps families and this county, just little simple statements and you want that to be, you know, the first two seconds, the first four seconds, you want them to be able to identify with it. That's why I'm suggesting Are you the administrator of an estate, have you know, is probate stress with creating stress for your family, and then every two seconds, you can change it, make it a 15 second, or a 32nd video spot that's really simple, but it stands out. They're going to be seeing anywhere from three to 15 times a day, because your audience is so small, our impressions are really high. So they're gonna they're going to even if it's just a black background with white text flying in, kind of like think of the Got Milk logo, how simple that is. But it's eventually they're going to be like What in the world? How do they know that I'm going through this and they'll click learn more. Then land them, land them on your website, where the Idea told you earlier stand in front of the courthouse and talk directly to them like you would if you bumped into if someone had referred them to you and say, Hi, my name is Chad. I'm standing here at Toronto county courthouse, we just met with the court to find out who was Act, which families were actually going through this this month. The reason you saw our ad and the reason you're here is because we're trying to reach out to you because we know we can make a big difference and your family's experiencing and going through this. And our two primary goals are to raise to help you keep every dollar you can. And to get this done as quickly as possible with as little stress as possible. A couple of ways we can move forward from here, if you look right below the video, there's a link to my calendar. You can click that right now. And I'll call you. There's a phone number above me in the header of the site. You can call that right now. And I'll answer or you can fill out the form below and I'll get to you through email or however and give them calls to action in that video. give them permission to look around the site. And what you'll find like We were able to get you know, we built tools where we actually created the audiences for you manage all that. And we were able to get lots of clicks and traffic but without having that custom video like the the landing page. It was just not converting, like, like it does if you do and trying to coach people to do video is like trying to throw a hot tub party for cats. Like it just it's never gonna happen. So if you can have the discipline to do you know to do that video yourself, we're giving you the recipe like that's pretty much what it takes to convert and give them multiple calls to action. You know, they can hit you on the calendar, they can hit a webform or they can call you directly give them three different ways to get to and then push push that out and let it run. And each month and when you get a new list. You want to you want to copy and paste your your your new list needs to go into the same audience. Because the larger your audience becomes, the cheaper your CPR is your cost per result. So it's you're better off to have 1000 people in an audience than 300 people in an audience. A lot of people think that if there's only 300, it's going to focus my budget. It's actually not once you get above an audience size of 1000, Facebook optimizes your ad and it becomes more efficient so your CPR actually goes down. So what we found is, I mean, really, you should start your budget at $250 or more per month.
• 1:00:35
  Unknown Speaker: And and try to keep your audience get your audience as big as possible. And what we did is we would drop off at month 13, we would drop off so each month we would add, you add your your new probate leads to your Facebook audience. And then on month 13, you'll add your new list and take off your first list. So you're lopping off that 13 month old list and you start to phase them out after a year. But we saw on average impressions of about across all users and all markets we had about an average of 12 impressions daily on these campaigns. What do you think about that? That's like sending 12 postcards a day. You get 12 right brand impressions 12 opportunities for them to click on that. And you can get it for pennies like it's not very expensive because it's nobody's competing with you. You know, you run an ad for buyer leads in the real estate space and it's it you know, your cost per result goes sky high or your lead qualities are just junk leads. Were here I have a little time a little tiny audience with no one else marketing to them. So it's it's it's a really good X Factor if you figure it out. There's not there's a handful people in the whole country that I've actually done it so it's especially in competitive markets like yours. It can really make a big difference for you if you get it right. All right. Well, I think that Help nugget right now is what you talked about and how to present your message in front of the courthouse that those types of tactics alone are huge for everybody listening.
• 1:02:12
  Unknown Speaker: Yeah, great, thank you.
• 1:02:14
  Unknown Speaker: Let me like when you get your campaign up, reach out and if it's working for you, I'd like to capture you like what your experience has been to share with everybody if you're willing because I've encouraged many many many people to do this but nobody very few people ever get it done. So if you if you got to take action and get it done, let's do a case study and show everybody else how easy it is. Okay, right on Thank you chat, you guys. All right, guys. Another another great call. I want to end this call like I've been to all 277 calls previously. I want to thank each of you for for being here today. We had a great attendance. I want to particularly thank those who actively participated and I want to challenge each of you Take one idea. One thought one thing that inspired you on today's call,
• 1:03:05
  Unknown Speaker: go out and put it into practice and come
• 1:03:07
  Unknown Speaker: back and share your results with the
• 1:03:09
  Unknown Speaker: group next week. Make it a great week
• 1:03:11
  Unknown Speaker: and we will talk to you same time next Thursday.
• 1:03:14
  Unknown Speaker: Stay healthy. Take care. We'll talk to you