Let's Talk Real Estate Investing with Sharon Vornholt

Today we’re going to talk about whether probate properties need court approval to be sold, and how to handle the current problem tenant residing in the property.

This question was from a person new to probate who was both an agent and an investor. She was trying to help the seller who inherited the property but was stumped by how to proceed with this unusual and very sticky situation.

Here’s the situation in a nutshell:

The seller inherited a property with a non-paying tenant who also happened to be a relative. To make things even worse, the tenant refused to let the new owner into the condominium for inspection or to show the property so it could be sold. The new owner was reluctant to evict the relative but found himself in a really uncomfortable position. He inherited a property he couldn’t even enter and was getting no rent on the property. 

What would you do in this situation?  

Listen in to hear more about what I had to say.

[00:00 - 02:33] - Opening & Question Overview

• Question comes from real estate investor & realtor, wants to purchase inherited duplex

• One unit occupied by problematic non-paying tenant who is a family member

• Asks if court approval is needed beyond typical probate court

[02:34 - 04:19] - Tenant Issues & Offer Considerations

• Tenant not paying rent, only utilities, refused $700 cash for keys offer

• Not allowing showings or access to property

• Should factor in lower offer price & costs for repairs

[04:20 - 05:56] - Probate Court Approval Process

• Requires probate court approval but standard, no special approvals

• Attorney can provide proper contract language on closing timeline

• Good to know local state laws, can have small regional differences

[05:57 - 07:27] - Financial Impacts & Offer Adjustments

• Estimate 4-6 months before re-renting: eviction, clean up, repairs

• Factor in costs for lost rents during this period

• Adjust offer price accordingly

[07:26 - 10:07] - Closing Tips

• Don't reveal as owner to tenant, pose as property manager instead

• Check local laws, get probate investing starter kit & resources

Resources Mentioned in this show:

FREEBIE: Probate Investing Starter Kit   

Probate Investing Simplified Course         

Key Quote:

"I would tell the seller that unless I could see the unit, I would have to assume that it's trashed” - Sharon Vornholt

WANT TO LEARN MORE?

Connect with me through my website, Instagram, and LinkedIn

Or you can send me an email at [email protected]

Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

Learn more about this podcast on iTunes, or Stitcher.

If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

I have a great show for you today. My guest is Dan Toback and you’re going to get some tips on how to 10x your wholesaling business. These are the same things he uses in his own business.

Now if you aren’t a wholesaler, this show is still for you. Dan is an expert when it comes to talking to sellers in a way that builds trust and rapport, he has a rock-solid follow-up process, and he’ll go deep into some of the systems and processes he uses in his own successful real estate investing business.

[00:00 - 11:14] - Building Your Local Brand and Reputation

• Represent yourself as a friendly neighborhood buyer, not a big hedge fund
• Adopt a friendly culture in your interactions and marketing

[11:14 - 18:20] - Leveraging Direct Mail Marketing

• Can be expensive but effective. Start small with handwritten letters if needed.
• Focuses on motivated sellers who call you.

[18:20 - 24:35] - Qualifying Leads Over the Phone

• Build rapport and get to know the seller
• Understand their motivation for selling
• Confirm decision makers will be present

[24:35 - 38:00] - Hiring for Culture Over Skills

• Can train skills but not personality and character
• Want people interested in solving problems over just the money

[38:00 - 55:30] - Using Home Inspections and Standing Out

• Worth the small investment even for cash buyers
• Gives you justification to renegotiate if needed
• Don't just compete on price - be uniquely different

Resources Mentioned:

REI Freedom Facebook Group 

Discount Code For Coaching with Dan: Probate Queen

Probate Course

Freebie: Probate Investing Simplified  

CRM (there’s a free version)  

Book Mentioned:

“Get Different" by Mike Michalowicz

Key Quote:

“If I can do it, You can do it. I wasn't naturally a good salesperson.” - Dan Toback

WANT TO LEARN MORE?

Connect with me through my website, Instagram, and LinkedIn

Or you can send me an email at [email protected]

Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

Learn more about this podcast on iTunes, or Stitcher.

If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

Today I have some easy-to-implement tips on how to set your business up for success in the new year. We have a little less than 8 weeks left in this year which is plenty of time to complete some of those unfinished goals. 

Each new year is an exciting time for a fresh start. Here are 6 tips to help you finish the year strong.

[00:00 - 02:47] - Do a “Look Back” on the Year

• Look back at the goals you set 12 months ago and evaluate your progress

• Consider letting go of things that are no longer serving your business

[02:48 - 04:15] - Plan the Rest of the Year and Put it on a Calendar

• Make a plan for the rest of the year in broad terms, then niche down

• Put action steps and time blocks on your calendar to stay focused

[04:16 - 05:59] - Evaluate and Adjust Your Marketing

• Keep marketing throughout the holiday season when others may drop out

• Look back at marketing strategies - what's working, what's not?

[06:00 - 10:07] - Start Thinking About Next Year's Goals

• Have no more than 3-4 big goals, including a stretch goal

[10:08 - 13:39] - Analyze Your Business's Profit Opportunities

• Make sure you're wholesaling deals that don't fit your model

• Add more off-market deals like probates, pre-foreclosures etc.

[13:40 -15:09] - Make Personal Development a Priority

• Invest in a mentor or coach to accelerate your progress

• Commit to personal growth and moving outside your comfort zone

Resources Mentioned:

Louisville Gal’s Real Estate Blog

Let’s Talk Real Estate Investing Podcast – How the Silver Tsunami Creates Massive Opportunity for Real Estate Investors

Probate Investing Simplified Course

FREEBIE: The Probate Investing Starter Kit

Books Mentioned:

The 12-Week Year by Brian Moran

The One Thing by Gary Keller and Jay Papasan

Key Quote:

"I believe that you should never end a year the exact same person as you were when the year began” - Sharon Vornholt

WANT TO LEARN MORE?

Connect with me through my website, Instagram, and LinkedIn

Or you can send me an email at [email protected]

Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

Learn more about this podcast on iTunes, or Stitcher.

If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

Today you’re going to learn how to invest in real estate using none of your own money and no JV partners. My guests are Mel and Dave Dupis, creative funding experts who have a mix of all types of commercial and residential properties. We will also dive into scaling your business, exit strategies, mindset and so much more. [00:00 - 06:54] - Mel and Dave's Intro to Real Estate

• Started out working multiple jobs and buying properties traditionally

• Discovered they couldn't grow quickly enough saving for down payments

• Interviewed successful real estate investors and created a plan

[06:55 - 22:32] - Types of Creative Financing Strategies

• Favorites are seller financing (carry backs) and using self-directed retirement funds

• Seller financing allows flexibility to meet seller's needs in exchange for purchase financing

• Self-directed IRAs / 401Ks can be used to fund real estate purchases

• Promissory notes help cover deposits, down payments, rehabs, and closing costs

[22:33 - 31:34] - Building the Right Real Estate Team

• Property managers are key for finding pocket listings from sellers

• Investor-focused real estate agents understand numbers and creative finance

• Ask probing questions to vet real estate team members' experience

• Managed their own properties at first to understand property management

[31:35 - 36:14] - Buying International Real Estate

• They've purchased properties in the U.S., Canada, Costa Rica using creative financing

• With the right team, can quarterback international deals from anywhere

• Made over $100K on a Costa Rica deal with no money down

[36:15 - 46:26] - Avoiding Common Investor Mistakes

• Don't overspend or inflate lifestyle before long-term wealth is built

• Prioritize property purchases over luxuries in beginning

• Have a budget and savings buffer for unexpected expenses

• Maintain oversight and understanding even with property managers

Get In Touch With Mel & Dave:

Website

YouTube

Facebook

Instagram

LinkedIn

TikTok

Key Quotes:

“If ever something happens, we'll sell our house before we don't pay back an investor because we can always buy a house, but we can never buy back our reputation.” - Dave Dupis

"We were literally trading our time for money, and although the book didn't show us how to do it, it made us realize that we're doing it all wrong and that there's an easier way to do this." - Mel Dupis

WANT TO LEARN MORE?

Connect with me through my website, Instagram, and LinkedIn

Or you can send me an email at [email protected] 

Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

Learn more about this podcast on iTunes, or Stitcher.

If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

Today’s show is specifically for brokers, Realtors, and investor/agents. 

I want to show you how you can tap into an endless stream of motivated seller leads with probate properties. You will learn exactly how this once-in-a-lifetime event known as the “Silver Tsunami” will allow you to do this consistently over the next two decades. Probates have always been my number one source of leads. These leads are hidden gems. You will also learn how easy it is for you to become known as a probate expert in your area so that you can better serve your clients. 

There is a link below to the longer podcast about the "Silver Tsunami" so be sure to check it out. Those statistics are eye opening!

[00:00 - 03:58] - What is the “Silver Tsunami”?

• The "Silver Tsunami" refers to the aging baby boomer generation
• Huge opportunity for real estate agents, brokers, and investors

[03:59 - 05:25] - Capitalizing on the "Silver Tsunami"

• Why now is the time to become an expert in probates
• Key statistics on the size of the baby boomer population
• The peak of the "Silver Tsunami" expected between 2037-2044

[05:26 - 08:09] - Understanding the Probate Process

• Probate properties will likely be higher-quality homes
• Overview of what happens when a property enters probate
• Many surviving spouses will eventually sell and move

[08:10 - 12:07] - Becoming the Probate Expert

• Probate Investing Simplified teaches the probate process and marketing
• Tips for marketing to probate sellers as a real estate agent
• Probate leads are guaranteed consistently, unaffected by markets
• Opportunity to establish yourself as the go-to probate expert

Resources Mentioned:

Freebie: Probate Investing Starter Kit

Probate Investing Simplified Course 

The Silver Tsunami Podcast Episode 

Louisville Gal’s Real Estate Blog

Key Quotes:

"The next 15 to 20 years for anyone working in real estate, they truly will have a once in a lifetime opportunity to benefit from this changing demographic." - Sharon Vornholt

"With probates, you are guaranteed a steady stream of leads month after month, year after year. These leads are completely unaffected by market conditions." - Sharon Vornholt

WANT TO LEARN MORE?

Connect with me through my website, Instagram, and LinkedIn

Or you can send me an email at [email protected] 

Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

Learn more about this podcast on iTunes, or Stitcher.

If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

Digital marketing is a hard topic for a lot of real estate investors to understand much less implement. My guest today is digital marketing expert, Bob McIntosh. Bob is going to break it down for us today including how much you need to spend to get results.

What’s the minimum you can get started with, and how long will it take to get “traction”?

[00:00 - 07:20] - Leveraging the Web for Lead Generation

• 40% of Bob's deals from internet marketing, especially SEO
• Most investors don't focus enough on online presence
• SEO has long runway - takes 6-12 months to see results

[07:21 - 12:30] - Creating Content to Attract Motivated Sellers

• Content builds bridge of trust before you ever talk to sellers
• Social media and content are extensions of who you are
• Use content to drive traffic back to your central website hub

[12:31 - 21:00] - Overcoming Perfectionism as an Entrepreneur

• Entrepreneurs tend to be perfectionists but it backfires
• Focus on excellence vs. perfection - define excellence for yourself
• Done is better than perfect - just get it out even if not 100%

[21:01 - 38:55] - Systems to Accomplish More and Scale Your Business

• Schedule activities around your natural energy peaks and valleys
• Use technology whenever possible to automate and simplify
• Even small consistent progress compounds over the long run

Key Quotes:

"Technology as a small entrepreneur is your best friend. So many things can be automated” - Bob McIntosh

“We don't need things to be perfect as long as they're excellent.” - Bob McIntosh

Connect with Bob:

Website

Facebook

Book a Call with Bob

Velocity CRM 

Bob’s Book: “Get Out Of Your Own Way!: How to break the perfectionist mindset and unleash the floodgates of prosperity for your business”

Learn more about this podcast on iTunes or Spotify.

If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

Getting the best results from your probate direct mail campaigns is important. I’m often asked if there is a way to maximize those marketing dollars spent each month, and the answer is yes there is. It all begins with creating a memorable experience at each and every interaction with these sellers.

You need to find genuine ways to make the sellers’ lives easier during this process. It also involves following a proven process for probate direct mail marketing, and that’s what we’ll be talking about today.

[00:01:29 - 00:05:45] - Creating a Memorable First Impression

• Goal is to solve sellers' problems and make process easy
• Direct mail letter makes crucial first impression
• Make initial call to gather info and understand needs
• Use property visit to show understanding and respect

[00:05:46 - 00:10:02] - Turning "No" into "Yes" Through Follow Up

• 80% of deals come from follow up after "no"
• Ask to follow up in case Plan A falls through
• Use mail, calls, texts to stay top of mind
• Find out what's holding them back from "yes"

[00:10:03 - 00:15:01] - Building Trust Through Thoughtful Conversations

• Listen fully to show understanding and respect
• Use visual clues to start conversations
• Ask open-ended questions and listen closely

[00:15:02 - 00:22:10] - Creating Raving Fans Who Refer More Deals

• Make the rest of the process smooth once you get a "yes"
• Attend closing to reinforce a positive experience
• Happy sellers become raving fans who refer you

Key Quote:

"Your goal … has to be to solve their problem and create a bridge from where they are today … to where they want to go" - Sharon Vornholt

Resources Mentioned in This Show:

Probate Investing Simplified Course 

Freebie: Probate Investing Starter Kit and Probate Letter

Learn more about this podcast on iTunes or Spotify.

If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

Have you ever wondered if there are secrets to success? I firmly believe that success leaves clues.

My guest today is Jasmine Calio, and we are going to dive into what I believe are the secrets of successful female investors. There are certain traits and behaviors that come naturally for women and for this reason, it makes them a natural at real estate investing. I want to point out that many of these same things are also present in our successful male counterparts.

Have a listen and let me know what you think.

[01:39 - 04:38] - How a Chance Meeting Sparked Jasmine’s Investing Journey

• Purchased first investment property in California before meeting husband
• Husband CJ initially resistant to investing more after getting married

[04:39 - 13:04] - Turning Her Skeptical Husband into an Investing Partner

• “Dragged” him to real estate networking events
• He reluctantly agreed to buy their first Midwest rental property together

[13:05 - 17:24] - Going All In: Building a Large Portfolio in Just Years

• Built portfolio of around 90 properties before moving to mainland
• Having a strong "why" kept them motivated
• Networking helped them learn and scale faster

[17:25 - 20:48] - Pivoting to Commercial Real Estate for New Opportunities

• Started focusing more on commercial properties
• Jasmine enjoys evaluating each new opportunity

[20:49 - 25:38] - Paying It Forward: Teaching Others the Ropes

• Now Jasmine and CJ teach real estate investing through their company
• They help others build cash-flowing portfolios

Quotes:

"If you don't think you belong, you don't. That's the honest and personal truth. If you do think you belong, you do. And that's the end of it." - Jasmine Calio

“The more work you put in, the more people you learn from...it makes you think of 20 different ways to do a deal.” - Jasmine Calio

Connect with Jasmine:

Website: https://wnnproperties.com/

Social Media:

Facebook - https://www.facebook.com/wnnproperties

Instagram -https://www.instagram.com/wnnproperties/

YouTube - https://www.youtube.com/channel/UC4JunvMppOQqzpmtr0Zseag

Special Gift: https://whynotnowinrealestate.com/

Learn more about this podcast on iTunes or Spotify.

If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

If you think it's impossible to build a wholesaling business on a shoestring, you'll want to listen to this show today. Nathan Payne will show you how he did it with little to no money and then grew that business through effective marketing. He'll do a deep dive into all the marketing channels he's tried and tell you what worked for him in today's market.

[00:00 - 07:37] From Door Knocking to Wholesaling: Finding Success in Real Estate Investing

• Nathan Payne is a real estate investor, mentor, and wholesaler with cash buyers in every state
• He and his wife quit their jobs and started a business without money for leads or prior experience.
• Today, Nathan leverages his network to do deals through other wholesalers without spending money on marketing
• He also does deals on the MLS and is aiming to do less deals but more profitable deals

[07:38 - 13:34] Payneless Wholesaling with Real Estate Investor

• Building relationships with top buyers in the market is vital to successful wholesaling
• Establishing "buy boxes" and being generous with information helps build a community
• Knowing your numbers is essential to maintain trust with buyers
• Payneless wholesaling involves leveraging the experience of local mentors and buyers to make offers
• Wholesalers should not just lock up any property without knowing who will buy it

[13:35 - 20:20] How to Get Deals and Build Trust in the Wholesaling Business

• How Nathan started finding deals and using sales skills to make it out
• The biggest challenge was marketing and not understanding the importance of the second half of the business
• Building systems and building a business is key
• Focus on spread in deals to increase income

[20:21 - 24:34] Standing Out Amidst the Competition

• Stand out by being responsive and showing you are a legit business that can perform
• Shortcuts will never benefit you

[24:35 - 27:45] Closing Segment

Quotes:

"That's why I call it Payneless Wholesaling because it's painful to just go without knowledge and get something under contract and just hope you can find a buyer for it. It's a waste of time." - Nathan Payne

"Marketing is how you get leads, but branding is why they choose you." - Sharon Vornholt

Connect with Nathan through Facebook, Instagram, or visit his website. Join his Facebook Group, The Payneless Wholesaling Group.

Learn more about this podcast on iTunes or Stitcher.

If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

I am often asked what happens to rental property during probate. Specifically, what happens to the rental income during the probate process? In today's show, I'm going to answer these questions as well as some other common questions that pertain to rental properties that are part of an estate, such as, "What happens when the tenant stops paying rent but won't move out"? 

Learn the ins and outs of how to handle common tenant problems during the probate process.

[00:00 - 06:54] What to Do When Rental Income Can't Cover Expenses During Probate

• The probate process involves a decision-maker (executor/administrator)
• Understanding how probate works helps treat money in estate properly
• Once the estate is opened and the executor/administrator is appointed, they can move forward with selling assets in the estate
• If using property management software, rents can continue to be entered into the system

[06:55 - 15:13] What to Do if Property Becomes Vacant During Process

• Heirs cannot have access to rental income before probate is completed
• Personal representatives can use the money to pay expenses related to the income-producing property
• If rental income is not enough to cover expenses, money from the estate can be used

Quotes:

"The executor of a probate estate has the authority to file an unlawful detainer. Just the same as if you were managing your own property or property from someone else." - Sharon Vornholt 

"An executor can evict someone that ultimately will be an heir to the estate. If it's not on the deed, whatever doesn't matter. The fact is that if they are an heir, it doesn't give them the authority to live in the property rent free." - Sharon Vornholt 

Links:

• Email me at: [email protected] 
• Louisville Gal's Real Estate Blog  
• Let's Talk Real Estate Investing Podcast  
• FREEBIE: Probate Investing Starter Kit 
• Probate Investing Course

Learn more about this podcast on iTunes or Stitcher.

If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!