Want to Build Your Probate Business? You Need a Great Lead Source!

By Leon McKenzie

Today’s real estate investors face the uncertainty that a changing market brings. From issues with lending to interest rates and disclosures, building a real estate business can be a daily challenge – though one that can be met with hard work and a dedication to the industry. If you are building a real estate business, then you need to have access to all of the information that will help you to build your portfolio.

One of the key pieces of information that you need in order to create a real estate business is to have accurate information as to which properties are currently on the market. Having access to good leads is the single best way to ensure that you are finding the options that you need in order to beat other investors to the negotiating table and get a great deal.

Understanding that leads are a key component to building a real estate business is one thing. Being able to access them in a historically tight market is another thing completely. Current market conditions are making it nearly impossible to purchase a home using a traditional manner without completely overpaying for the property or having to compete with a long list of other potential buyers. This is simply not a model for success for a real estate investor.

Leads are the Way to Build a Profitable Real Estate Business

Not having leads can cause your business to stall in a way that can be truly detrimental over the long term. Karen Rittenhouse, an expert in buying and selling real estate said, “As an investor, the key fundamental element in the first level of your real estate investing business is creating systematic and consistent lead generation. If you are not focused on lead generation, you do not have a business, you have a hobby or a dream.”

Think about it this way. . . if you don’t have any way of knowing what is on the market, or get that information when it is too late and the price has been driven too high, then you will miss out on opportunities that could change your financial future. Timely, viable leads have to be an integral part of your real estate business if you expect it to grow. Otherwise, you will simply have a “hit or miss” strategy hoping that you find something that you can afford and that is available when you need it.

The experts at Realtor Magazine say it this way, “The sea change in real estate these past few years has made leads more valuable than ever before. . . Whether your overall strategy employs cutting-edge technology solutions, tried and true methods, or a blending of those, the end result should be to turn leads into business.” The value in real estate leads is that it opens doors of opportunity for you to purchase homes on a consistent basis, giving you a way to fuel your business.

Where Can You Find Great Leads?

If you have worked in real estate for any length of time, then you know that finding viable leads can be one of the hardest parts of the business and one that can cause a whole host of problems in taking your enterprise to the next level. The experienced professionals at Realtor Magazine said, “But most [investors] encounter problems somewhere in the process of moving from lead capture to lead conversion . . . In particular, lead conversion — that is, turning a received lead into a face-to-face presentation — is a frequently a source of frustration.”

While some real estate professionals can’t seem to meet with sellers, others find it difficult to find leads in the first place. There are opportunities to locate real estate leads by networking with others in the community, using social media, buying ad space or even using SEO tactics, but all of these require that the leads come and find you. You are putting information out that will help people to find a place they can sell their home. That doesn’t help you to move the process forward on your own end, though.

Finding Leads You Can Pursue

When you discover that advertising and networking simply won’t help you to move your business forward, you need a new plan, one that involves being able to act on your own leads. Getting those leads is the only stumbling block. Once you have them, you can move forward with communication campaigns that will provide you with a non-stop stream of opportunities to build a thriving real estate business.

Luckily, with the advent of technology, new lead sources have been developed that can help you to get information that can give you an edge. These lead sources, such as the one developed by the experts at US Probate Leads, give you instant access to lists of homes that may be available for sale due to probate. Delivered to your inbox on a regular basis, each of these leads has been tested to ensure that it is viable and timely.

Why Choose Probate Leads?

There are many reasons to pursue probate leads instead of traditional real estate market leads. With the aging baby boomer population, more and more homes are coming available that can be purchased for a significant discount. Why is this the new trend real estate investors are experiencing? When a loved one passes away, someone needs to take responsibility for dealing with all of the personal items, investments and property that the individual owned prior to their death. To deal with this issue, the court assigns an Executor, who has the right and responsibility to close out the individual’s financial dealings. The Executor is charged with the decision making ability to sell homes, personal property and close accounts in order to pay funeral bills, medical charges, close credit cards and distribute money to the heirs. This responsibility comes with the ability to sell property, which is the point at which they become a lead for a real estate investor.

The Baby Boomer Generation Will Provide Extraordinary Leads

The aging of the largest generation in the history of the United States will mean that there are more leads than ever for real estate investors. What characterizes an actual “lead?” According to writers at Realtor Magazine, they state:

“I believe a ‘real lead’ is someone who will take action in the next 30 days and has a defined need or void that can be clearly identified and filled by my service. Either they have a high level of exclusive commitment to me or I can get them to that level by meeting with me (and they’re willing to meet with me). Eventually, I learned to tighten my definition to anyone who would buy or sell within a year. Then I tightened even more to anyone who would buy or sell within six months, then 60 days, and finally down to my current demarcation. If I had done this from the beginning, I would have saved myself from a lot of mistakes, anguish, and lost income. Now, I’m not saying to throw the long-term leads away. Actually, let me put it as clearly as possible: Do not throw the long-term ones away! Today, we’re finding people in the search process much earlier than before because they’re out looking and shopping. We need to engage and connect with them.”

As you can see, a viable “lead” is one where the Executor is willing to sell their property in the short term. The reason that so many Executors are quick to sell is that they need cash to deal with the estate’s bills. These can include more than just the cost of the funeral, but also credit card bills, income tax, real estate taxes, estate taxes, medical bills, home maintenance fees and much more. In reality, Executors need investors who are willing to purchase their home quickly. That said, short term leads are not the only ones that are viable. While you may want an Executor to sell quickly, having leads that you can pursue over the long term will give you a constant stream of homes to evaluate to add to your portfolio.

Due to the need for cash, probates tend to sell not only quickly, but for a reduced rate. The reduced rates you can find as a result of good leads can save you from thirty to fifty percent on assets owned by the estate. With some careful research, you can find many opportunities within each probate to profit.

More than Just Homes with Probate Leads

While you may think that probate leads will only give you information about residential property that is simply not true. With probate leads, you can learn about many investment opportunities that are available in any given estate. These can include commercial property, such as warehouses, office buildings and restaurants; vacation homes that can be rented out for a profit and enjoyed by your family; and apartments and condos. Additionally, you can find businesses that are for sale that are currently running that will quickly add a stream of income to your family.

With probate leads it is also possible to create more than just a real estate investment business. There are many associated services that can lead to profits. Thinking creatively about how you use your leads may include starting an estate sale service and helping Executors to sell the personal items that have been left behind by their loved one. Using a lead service can also help you to offer rehabilitation services to commercial property owners. If you have experience in antiques, collector cars, boats, art, ATVs, RVs, model trains or personal watercraft, you can specialize in buying and selling these valuable items by using leads to locate them.

The Best Source of Leads

If you are serious about building your business, then the best way to do so is to get your leads from the nation’s best source. At US Probate Leads, we offer the highest quality leads in the United States. Our trained team visits courthouses in every county across the country accessing the most up-to-date and viable probate leads. This data is sent to you directly to your inbox each week, saving you the time, expense and hassle of going to the local courthouse and sifting through filing after filing.

In addition to our leads, we offer a wide range of supportive services that can help you to build your business. From software to books, e-books, webinars, seminars and even individualized mentoring services, we can ensure that your business grows and develops to meet your vision. Call us today to speak to one of our friendly, knowledgeable team members about leads in your community or other resources. Call now!

 

Sources:

http://www.karensperspective.com/100-ways-to-create-real-estate-leads/

http://realtormag.realtor.org/sales-and-marketing/feature/article/2011/08/what-lead-you

Getting Started with Your Tax Lien Certificate and Tax Deed Investment Business

By: Ted Thomas


Investing in tax lien certificates and tax deeds is a business that almost anyone can start. It doesn’t require any more than motivation, a small amount of money, and knowledge of how the system works. While I can’t help you with the first two requirements, my successful students and I can help you with the third one.

The Basics of Any Good Business

As the old saying goes, knowledge is power. The more you know, the better your investments will be – whether you are creating wealth through the stock market, by opening your own storefront, or by purchasing tax lien certificates and tax deeds.

Think of your investment business as an office building. Before the walls goes up, there has to be a foundation in place. Not only is the foundation the most important part of constructing the building, it’s the hardest part to do. It takes careful planning, using the blueprints (knowledge) to create a foundation that will support the subsequent structure.

Although its importance can’t be overstated, one day the foundation will be covered up. No one will be able to see it and it will become a forgotten part of the building. Nevertheless, the building must stand firmly on the foundation or it will crumble.

The same is true of a business. Your profits will speak for themselves, but no one will realize the time, research, and effort you put into creating a foundation of success. Just remember that without those ingredients, your road to profitable investments will be a rough one.

Understand the Process

The more comfortable you are with the process of bidding on tax lien certificates and tax deeds, the better your chances of making good buying decisions. One of my successful students, Craig Talkington, puts it this way, “You do it once and it gets easier every time you do it. It’s guaranteed. The worst that happens is you get your money back.”

Not only that, it gets more profitable! Recently, Craig bought a 10-acre tract of land at a Tax Lien certificate sale. It was next to a school in a bad part of town and everyone thought he was crazy. But Craig was crazy like a fox – he figured the school would eventually want to use it for expansion. He bought the certificate for $1,500 and later sold the property to the school system for $34,000. Craig kept investing part time and it didn’t take long for his profits to snowball.

Know the Rules

Each county is different when it comes to auctioning tax lien certificates and tax deeds. They have specific rules and particular bidding procedures. There are many bidding processes, I’m only mentioning two in this tutorial.

The bidding process at a tax lien certificate or tax deed auction varies. Two types are a reverse auction and rotational bidding.

At a traditional auction, bidding starts with a minimum amount and each subsequent bid goes up; in a reverse auction, it starts at the high point and then goes lower. This type of auction is used in the states of Arizona and Florida. In Florida, the bidding is on an interest rate that starts at 18 percent. The interest rate gets progressively lower as the bidding continues and may go down to less than one percent.

The state of Colorado, on the other hand, uses a rotational bidding process. This means the bidders are all given a card with a number; the auctioneer will go around the room in order from lowest to highest number asking for bids. At some rotational bid auctions, the numbers are printed on ping pong balls and put into a big drum, much like you might see at a bingo game.

Dates and times vary widely amongst tax districts, too. For instance, the state of Texas sells tax defaulted properties every month. Texas counties sell tax deeds; however the deed has an encumbrance. Texas allows the property owners to pay the investor directly and redeem the tax-defaulted property anytime within 180 days. The owner must pay the amount of the defaulting taxes on the deed plus 25%, no matter the amount of days the debt has been outstanding. You could easily make a tidy profit in less than 30 days and that is why Texas is a popular state when it comes to tax deed investing.

Obviously, there is a lot to learn about the particular rules imposed by each county and municipality – but learning them forms the foundation of your business.

Get Started Now

The most important thing is that you get started on your investment business. You don’t have to quit your day job; you need to make small changes and begin to control your destiny so you have money in the future.

Ask yourself, “Is this in my best interests?” The more you learn the better your investment business will be and the more you will like it. Tax lien certificate and tax deed investing is as safe an investment as you can imagine since it is secured by real estate, your money protected by tax code, and certificates pay one of the highest rates of interest in the market.

Ted Thomas is famous for showing newcomers and investors how to earn 6 figure incomes within 1 year of completing his training program. Conservative investors love tax lien certificates because they are predictable, certain and secure and sold by local government. Tax defaulted properties are sold at oral big auctions and online. Starting bid, only the back taxes…. More information at www.TedThomas.com

 

What’s in a Name?

By Randy Hughes

I recently read an article on the internet by Anna Sobrevinas about the names of people who own expensive homes. She said, “These are some of the names of owners of the most valuable homes nationwide, with ‘Stuart’ in the lead with a median home value of $334,022, according to a new research analysis by Zillow. “Alison” follows closely with a median home value of $332,403 and “Peter” with $325,126.

She went on to indicate, “Anne, with a median home value of $309,491, is one of the most common names of owners of the most valuable homes, and they dominate the West Coast. Annes in California have a median home value of $669,946; in Oregon, $387,160; and in Washington; $435,308.”

“This analysis reveals a lot of interesting—fun— differences between homeowner names and the relative popularity of less common or non-traditional homeowner names from region to region,” said Zillow Chief Economist Svenja Gudell.

My view of this data is that if they know the first name of these home owners they also know the last name. In other words, the homeowner has deeded the property into their own personal name as opposed to using a title holding Trust (where their personal name would not show up in the public records).

Owning ANY real estate in your personal name is an invitation to trouble. There are no advantages to owning real estate in a personal name…only disadvantages and risks. Talk to any long term real estate investor and you will hear stories of upset tenants coming to their house late at night or liens from co-title holders destroying their equity. It gets worse.

Using a title holding trust (sometimes known as a Land Trust) to keep your real estate investments private is smart business. By using a trust, you avoid probate, tenant problems, frivolous lawsuits, due-on-sale clauses, seasoning issues, reassessment upon sale and many other real estate related risks.

If you want to learn more about the wonderful world of trusts, please go to: www.landtrustsmadesimple.com for more information. Or, if you would like to attend one of my FREE Land Trust Webinars, go to: www.landtrustwebinar.com/411 Also, feel free to call me with any questions. I actually answer my phone! 1-866-696-7347

 

 

Why Hiring a Coach Can Help You Build a Rock Solid Brand Fast

By Sharon Vornholt

Does this sound like you?

You’re always looking for something or someone to help you get over the next hurdle; to help you get to the next level. You know you need a coach, but you might be confused about choosing the right coach for you and how they can actually help you grow your business. You’re wondering if you will you be wasting your hard earned money.

Or maybe you are heading off in a new direction in your business, and you’re not sure how to put all the pieces together when it comes to branding and marketing. You know there is someone out there that can help you streamline the whole process.

If this sounds like you, I can tell you that you are not alone.

Each and every one of us wants to be better at what we do. We are all searching for the next thing we need to do or learn to grow our business. It has been my experience that choosing the right coach to help us master that next “thing” is almost always a game changer for us both personally and professionally.

I can tell you this for sure: you will almost always make more money faster when you hire a coach that can shave years off your learning curve.

Why is that?

The reason is, when we have the right coach to help us take those next steps, suddenly everything becomes easier. The path automatically becomes clearer. The obstacles begin to disappear. And during that process, we generally take a big leap forward in growing our business.

It seems to happen almost magically. That’s because choosing the right coach really can shave years off your learning curve.

What Is the Biggest Thing Holding Most Entrepreneurs Back?

The lack of a rock solid brand, and this is one area where a coach can really help you. Most people either have a weak brand, or they have no brand. What this means is that in most cases you are simply invisible. Who wants to be invisible?

If you look around your field or industry, you probably know someone that is great at what they do, but they are the best kept secret in their industry. No one knows about them.

Or, maybe this sounds like you:

You’ve built a business, and it might even be a great business. However the problem is that people don’t know about it. They don’t know that you are the expert in your field, and that my friend is poor branding.

Let’s Talk about your Brand

People think of colors and logos when they think about branding, and those are the visual components of your brand. What your brand really is though is how people feel about you. It’s also what they say about you when you leave the room. Yikes! What do you suppose they say? Chances are they say “Ben is a nice guy” or “Katie is a great gal”.

But let me ask you this; is this all you want people to say about you? What about your expertise? Where does that shine through? If you haven’t consciously built your brand, it’s probably non-existent. No brand = no shine.

You Need to Change the Conversation

What they should be saying is “Ben is the go to person in ___ (you fill in your field). If you want someone to do that for you, Ben is the expert. He is the person to call.

Or… “Katie is the most knowledgeable real estate person I know. No matter what your needs are, she can make it happen. There is really nothing she doesn’t know about real estate”.

That is what would happen if you had a brand built around your expertise. You have a wide circle of brand awareness and recognition.

Make no mistake about it; building a rock solid brand that shows the world who you are, what you stand for and exactly how you can help your ideal client shows up directly in your checking account.

It’s money in the bank.

Your brand and how it shows up to the world is much more of a determining factor in how much money you make than your actual skills and expertise. Now I want you to think about that for a minute.

I’m not suggesting that you don’t need to good at what you do, because you do. I am merely telling you that in your ideal customer’s mind, it’s all about perception. How you are perceived in the market place directly impacts how much money you make.

Marrying Marketing and Branding – Dollars in Your Bank Account

When you are able to successfully marry your marketing and your branding that’s where the real magic happens.

Remember that marketing is what you do to get leads in the door, and branding is what makes you stand out from the pack so that your ideal client chooses you (rather than your competition). When your marketing is on track and you’ve build a rock solid brand, you will be the obvious choice.