How to Get Started in Probate Investing – Episode #389
One of the most common questions I get from investors is how to get started in probate investing. I love probate investing because they are an endless source of leads, and they are such lucrative deals. So why don’t more investors dive into this niche?
There are a number of things that hold real estate investors back when it comes to probate investing. But generally, it’s for these reasons:
- They don’t understand the process
- They believe they need to know a lot of “legal stuff”
- Their mindset around probate
- They don’t know how to have conversations with these folks
They just don't know where to start. I have some tips for you today that will help you take those “first steps” and help you get started in probate investing.
[00:01 – 06:37] Opening Segment
- How to get started in probate investing
- The probate process
- Why the decision maker is in a probate proceeding
- What is next once all assets have been sold
[06:38 – 13:05] How to Market to Probate Sellers
- Reasons why people are often hesitant to start probate proceedings
- The importance of understanding the process and the mindset of the seller
- Why direct mail is the best way to reach these people
[13:06 – 19:43] Handling a Probate Lead
- Probate leads are sourced locally, so your marketing will be tailored to the area you're targeting
- A website is a valuable tool for marketing and can help you to connect with potential clients
- You can create content that will help you to build brand awareness and increase your chances of being chosen over competitors.
[19:44 – 23:17] Closing Segment
- Be prepared for conversations with sellers by being knowledgeable about the property and the deceased's situation
- If you can't agree on the property always leave the door open to circle back
If you want to do a deeper dive into one of these topics covered in this show, here are some links to those shows.
- How to Talk to Motivated Sellers with Confidence
- Probate Investing: The Step By Step Process
- Mining for Gold: Specializing in Probate Properties
- The Mindset of Probates: Probate Investing Simplified
- Overview of Marketing to Probates
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