Dean Graziosi s Probate Finder Your Purchase of this program gives you an individual license to use these materials as described in this program. As purchaser, you may reproduce the program content, (i.e. ads, flyers, scripts, etc.) for the purpose of securing investment properties. Your license does not extend to you the privilege to share or resell any of the program contents with others. Published by: Dean Enterprises, LLC Tempe, AZ 85282 1-800-315-7782 DISCLAIMER AND/OR LEGAL NOTICES: This program is designed to give the reader accurate information on the automated method and process of attracting prospective real estate investment opportunities. It is offered with the understanding that the authors and publisher do not guarantee any specific results, or any guarantees of income. While all attempts have been made to verify information provided in this book, neither the Author nor the Publisher assume any responsibility for errors, inaccuracies or omissions. Any slights of people or organizations are unintentional. If advice concerning legal or related matters is needed, the services of a qualified professional should be sought. This book is not intended for use as a source of legal or investment advice. Although unlikely, some suggestions made in this program concerning strategy and promotion, may have inadvertently introduced practices deemed unlawful in certain states and municipalities. You should be aware of the various laws governing business transactions or other business practices in your particular geographic location. PRINTED IN THE UNITED STATES OF AMERICA 2007, 2008 Dean Enterprises, LLC. ALL RIGHTS ARE RESERVED. This course may not be reproduced or transmitted in it s entirety in any form or by any means, electronic or mechanical, including photocopying, recording or by any informational storage or retrieval system without express written permission from the publisher. II
Table of Contents How My Proven Probate Process System Can Skyrocket You Past The Competition PPP Take The Mystery Out Of Probate Getting In Before The Competition With Research High Percentage Opportunities The X And The Treasure Map Of Probate The Notice To Creditors Is The X Marking Your Treasure At The Courthouse Or Online - What To Do Special Types Of Probates When PPP Become APF, Automated Probate Finder If You Choose To Use A Recorded Message The Automation In The Automated Probate Finder System Using Flyers To Fill Your Probate Funnel Bandit Signs For PPP Classified Ads 1 3 5 7 9 10 12 15 19 21 26 45 29 30 III
Profits Through Pay Per Click Marketing Email Auto-Responder Profits The PPP View, Value and Offer Strategies Pulling The Property Files What To Look For In The Probate Files Making The First Call To Help the First Meeting and Property Inspection Making The Deal If The Executor Is Out Of The Area The Bonus Aspect Of Probate Investing Thanks For Reading My Proven Probate Process System 32 37 40 48 49 52 54 56 58 58 59 IV
How My Proven Probate Process System Can Skyrocket You Past the Competition Dear Investor, When you visit listing websites, attend courthouse sales, and search foreclosure property listings, how many other real estate investors do you think have been to the very same places? It s quite a few. What if you could be the very first, and frequently the only investor in direct contact with the seller? The proven techniques inside these pages can place you in front of a willing seller, ready to execute a purchase agreement on a property at 30% to 70% below its true market value. These techniques have been proven over the years by myself and others who have simply followed them step-by-step. They re not hype, and we ll show you why and how they work. Until you read this course, it is likely that your knowledge of probate properties is like the visible part of an iceberg, only a tiny portion of the volume. $6,000,000,000,000; yes that s 6 trillion dollars worth of assets were in probate when this was written. The average investor will only see the tiny tip of this profitable iceberg. Your advantage will be the information and process I bring to you in this course. You will no longer be racing with others, bidding ever higher prices at auction, or participating in frustrating and lengthy negotiations with lenders. The PPP system isn t about hassling heirs of the recently deceased property owner. You will likely never even meet any of the heirs. 1
In fact, you ll be viewed as a resource, helping the appointed personal representative to liquidate the estate s assets for payment of debts and final distribution. This system shows you how to locate properties in probate long before any other investor will even get a hint as to their existence. There goes the competition! Using my proven probate process, you are the first investor in the door and in a position to make an offer that can be accepted immediately, short-circuiting the process of listing or marketing the property. There s nothing complicated to learn, no dealings with bereaved family members, and no property bidding contests. The estate needs to be settled, and time is money, with delays adding legal and other costs to the process. Your offer provides a timely solution to the liquidation of the largest value item in the estate. Congratulations on your decision to take your real estate investing business to a new level. Sincerely, Dean Graziosi P.S. What you learn here will work anywhere, in any market condition, and is not seasonal. You re in control of your success, and probate investing will always be there for you. 2
PPP Takes The Mystery Out Of Probate Just Having the Knowledge of How Probate Works and Where to Look for Deals is Half the Battle Let s look first at some myths and facts about the probate process. The myth is what most investors believe. Once you know the facts, you ve taken the first step toward eliminating the competition and achieving success in probate investing. MYTH Probate is complex and hard to understand. FACT As with many bureaucratic processes, probate appears more complex than it really is. It is a simple and very organized process, with hundreds or thousands of cases being handled at any given time in your county of residence. MYTH You cannot buy property that s in probate. FACT Just the opposite, as the process was created to dispose of assets, pay debts and distribute the remaining assets to heirs. Selling of the property in probate is an important part of the process. MYTH Only attorneys have access to probate files. FACT Probate files are public records in every county in the United States. You have every right to examine them, and this course will show you how to do just that. MYTH Family and heirs don t want to talk to any buyers during probate. FACT Actually, the probate process only begins when the family has decided to get started on settling the estate. I show you in this course just how to know when that time comes, and it s not obituaries or funeral notices. 3
MYTH You ll have to deal with judges and attorneys to purchase a property in probate. FACT This simply isn t true. Envision the process like a trip to the library. The probate records are where you ll find the information you want, and they re at your disposal, and this course will show you how to access them for the information you need. A Real-Life Example of Probate To help you to understand probate, let s take a hypothetical example, with the probate of the estate of Mr. John P. Jones. Mr. Jones died leaving a will that stipulated that his assets were to be divided equally between his four children. In the will, he also named a business partner, Marissa Smith, as his Personal Representative. Marissa now has an important and daunting set of duties: Take an inventory of all of the assets of Mr. Jones s estate. That s all real estate and personal property. Gather and total all debt owed by Mr. Jones s estate. Pay the debts and distribute remaining assets to the children as Mr. Jones specified. The important thing here is that real estate is usually the largest value asset in the estate. And, in most cases it s necessary to sell the real estate in order to free up cash to pay debt and properly divide up the remaining assets among the heirs. So, Marissa has a very important, demanding, and detailed job to do. Here s where you step in. Marissa, as the Personal Representative, could have been a friend, relative, or a business associate, as in this case. She may not even 4
reside in the area, requiring all of this to be done from a distance. This also means she may have little or no knowledge of property values. With some probate cases taking years to resolve, Marissa is desirous of moving it along, and she also wants to see that the heirs get their deserved inheritance. They may even be calling frequently for progress, adding more pressure. Once you use our PPP techniques to locate this probate property before any other investor even knows of its existence, you can offer assistance. Getting there before it s listed with a Realtor, or before they advertise it for sale, you are offering to save the estate the cost of the marketing and real estate commissions, as well as a speedy disposition of the largest asset in the estate. Your fast offer also saves the costs of insurance, utilities and maintenance. Vandalism to unoccupied properties is also a concern for the estate. Remember, supply and demand rule, and you re on the spot without other competition once you learn this system. This absence of competition means a lower price, and more profit in your deal. And, you re viewed as a resource, not a bother. You ll exceed your profit expectations in probate real estate investment. Just follow the easy system I give you here, and you ll see how we beat the competition to probate properties. Getting In Before The Competition With Research The Five Traditional Ways Probate Property is Purchased The Private Sale 1. The word private has no relation to these sales. They are heavily advertised to the public in 5
newspapers. They are usually in the legal section of the paper, and are published three times within a ten day period in most cases. The estate s attorney usually handles these sales, with written bids submitted, and a date set for the closing of bidding and review of all bids. The highest bid wins the property. 2. Buying at Public Auction Again, this auction is published in newspapers multiple times to generate public interest. It s similar to the private sale, but the bids are oral rather than sealed. This is a very competitive environment, amply advertised in advance. 3. The Private Auction Nothing is private about this process, as it is also advertised extensively. And, the bidding is open to anyone who attends with the proper verification of their ability to purchase. Bids are oral, as in the public auction. 4. Purchase from a Trust Department When a bank or trust company is the executor for an estate, the trust department sells the real estate. Their goal is to market the property to buyers, so you can call and get on their list for notification of property availability. 5. Probate Purchases from Realtors If the personal representative chooses to list the property with a real estate broker, you ll be dealing with them for the purchase. You re seeing the problem most investors encounter with probate investing via these five traditional methods. All use extensive advertising to attract as many prospective buyers as possible. The more competition, the higher the price. OK, enough of the problem, what s the solution to eliminating this competitive environment? The key is to purchase properties in probate without going through these five traditional methods. This system avoids them entirely, 6
getting you there before they advertise for public sale or auction, and before they list with a real estate broker. Instead: This system located more properties in probate than were listed in the same area s Multiple Listing Service. There are more properties in probate than in foreclosure. Nationally, I found millions of properties in probate at any given time. Basically, I found a gold mine to purchase property in probate. By perfecting a system using one key indicator, and then properly utilizing the public records, I ve been able to get the addresses of probate properties that will be coming up for sale, but that aren t yet listed or advertised. Using this system, you ll be the FIRST to discuss purchase with the personal representative. No competition means lower prices and higher profits. HIGH PERCENTAGE OPPORTUNITIES You ll learn here how to value probate properties and determine the most you re willing to pay for a great profit opportunity. But, here are some of what I call High Percentage Opportunities. 1. Fixers When a probate property is in a somewhat run-down condition, maybe needing painting, landscaping, or new carpets, there is opportunity. The personal representative is unlikely to want any involvement in getting bids and ordering repairs. They would rather just sell it as-is. This is an opportunity to negotiate a lower price to solve their problem. 2. Duplexes, triplexes and multi-family Older landlords with 7
low or paid-off mortgages will frequently fill their properties with stable tenants to avoid the hassle and lost income from vacancies. They do this by offering these tenants belowmarket rents. This is a great opportunity to purchase rental probate property at a discount, then increase profits by raising rents to market prices. 3. Out-of-area personal representatives I touched on this earlier. It is sometimes many years after the designation of a personal representative before they re called upon to serve. They have moved away, and will be tasked with handling all of these duties and details from a distance. They will welcome offers early in the process, and they may not have any idea of the fair market value of the property. 4. Charities Charities are very grateful for the donation of real estate. But, they don t want to own property; they need cash for their operations and goals. Their primary and pressing motivation will be to sell the asset as soon as possible, banking the cash. Negotiations with the charity can be very profitable for you. The common theme here is the need to sell the real estate quickly, avoiding a number of ongoing expenses that plague probate processes that can run for years: Property taxes do not stop with death Maintenance and upkeep continue on Vandalism of unoccupied property is common Utilities and insurance must be maintained Your role is simple. Locate the probate property earlier than the 8
competition, step in and make an offer that will be acceptable to them and profitable for you, while ending their problems with ongoing care of the property. Next, we get to the nuts and bolts of the Proven Probate Process, with the critical first step that actually gets you in front of the selling personal representative before other investors even know the property is available. The X And The Treasure Map of Probate The Treasure Map is Public Probate records are public records, accessible to anyone who wishes to see them. It s no different than going to the courthouse to get a copy of a marriage license or a death certificate. You deal with clerks, not judges, and they are there to help you to locate the information you need. Probate files are maintained at County level government, usually in an office at the County Courthouse. Organized by case number or case name, these files can be accessed in different ways: Physical paper or microfiche files at the courthouse Computer terminals at the courthouse On the Internet A call to the courthouse probate office will get you the answer to the question as to how and where to search the probate records. Once you know how to access the records, you are ready to search for probate real estate that s not yet general knowledge to other investors. 9
This is where my PPP system catapults you to the front of the investor pack in probate property location. You know where the map is, and now all you need is an X to mark the spot where you ll find the treasure. The Notice To Creditors is the X Marking Your Treasure More than just a clue, you can fill your treasure map with X s by watching the newspaper for one item. The Notice to Creditors is what you seek, not obituaries or funeral notices. The Notice to Creditors is the first public posting that indicates a property has entered probate. This notice can also be called a Notice of Petition to Administer the Estate of (Deceaseds Name). In the newspaper, where it is required to be published more than once to alert possible creditors, it will resemble this: NOTICE OF PETITION TO ADMINISTER ESTATE OF (NAME), CASE NO. XP5-2874 There will be a great deal of legal text in the body of this notice, but the really valuable information is the date (top or bottom in this case), and the name and case number. The date tells you how quickly you ve seized on this opportunity, and may help you find the file as well. The name and/or case number will be your X to locate the property in the probate records. Published 01/15/2009 10
The Purpose of the Notice to Creditors The court requires that this notice be posted, in order to alert possible creditors or claimants against the estate, that probate has been filed. They have a time limit within which they must file their claims. So, if someone who owed you money dies, this notice gives you the opportunity to make a claim for that money to the estate executor. If the sale of assets yields enough money, your properly documented debt should be paid. Many states allow four to six months for these claims to be filed. It is the first time that those outside of the immediate family, friends and the estate personal representative will be notified that a property is in probate. The good news is that the vast majority of your investor competition will still be looking at obituaries and funeral notices, while calling people they shouldn t, merely creating ill will. You, on the other hand, aren t watching any of those death notices, just these Notice to Creditor ads. If you re watching closely, you ll be in front of everyone in getting to the personal representative with a request to view the property for a possible offer. Truly, this information, when you use it properly, will become the X that leads you to your probate property treasures while others are stumbling around in the desert wondering where to dig. Next, we ll take our treasure map and get to the spot by knowing how to access the county probate records, as well as how to drill down to the specific property we want. 11
At the Courthouse or Online What To Do Depending on the sophistication of systems at your county courthouse, you may be able to access records from the comfort of your home computer. Or, you may use a terminal in their offices. The most difficult will be the paper or microfiche files for manual location. Before we take a detailed look at how to access probate records for deals, let s take a quick look at a form you ll be using, the Master Index Sheet. You will find a copy to print out and use in your forms online at http://www.getprobateinfo.com/members/. Here s a portion of that form: Later, we ll talk about the categories, the first of which is a P for Probate. Right now, let s just take a look at it and see how we ll 12
use it to record our research of probate that could yield a profitable real estate deal. When you research the records, at first using your Notice to Creditors, you ll usually find the Case Number in that notice, as well as the name. Record those first in your Master Index Sheet, including the date filed. Now, we ll look at the rest of the process. Using a Computer Terminal Read the rules of use for the computer terminals, and make sure to note down if there is a time limit. There will be some type of search screen, and it should have a data field for the Case Number. Type the number in that is in your Notice to Creditors. You should be presented with the probate record for your notice, with the same name for the estate. Double check the date filed to be sure you have the correct date. Now you can start a search for more recent probates as well. As the case numbers increase over time, you can just type in the next number increased by one digit, and you should locate the probate case filed just after yours. Example: Your Case Number is XP-25134, and you type in XP- 25135. You should be looking at the next probate case that was filed, with a more recent date. Record that information on your Master Index Sheet, and then enter the next higher number. Continue on until the computer indicates that there are no more cases. You ve now recorded the most recent probate cases filed, some of which may not have even gotten their Notice to Creditors into the paper yet. 13
Using a Written Ledger or Computer Printout If your county uses a printout or ledger, immediately flip to the last page, or the most recent cases. The last case on the list should be the most recent, with the highest case number. If you compare it to the case number on your Notice to Creditors, you can see how many cases have been filed since. Go up the list until you find your case number, and record the information on your Master Index Sheet as the first item. Then go down the list and record each case on its own line, with the filing date. Depending on the size of your county, you could have a few, a dozen, or even a hundred cases on your list. How many of these cases you write down will depend on the time you have to investigate them, and their filing dates. If there are a great many of them, you may want to start with the most recent and work backwards. This increases your chances of being the first one in the door to view the property. Always keep in mind that opportunities will not be present in every one of these cases. Some will not have any real estate involved. At this point, you can t tell which. It s a numbers game. The more cases you can investigate, the more chances you ll have to locate a very profitable real estate deal. Finally, take out a new Master Index Sheet and make the top line entry the next case number in line, higher than the last one on the current list. This case doesn t yet exist, but it is where you ll start immediately the next time you come in to access records. It s a head start on your next research visit. 14
Accessing Records on the Internet Internet use has grown very quickly among county governments, and a great many records are now accessible on the Web. If your county s probate records are on the Web, you need only follow the online instructions for getting into the system, possibly having to set up a free account with a login. Once you re in the system, you will be taking the same actions as we discussed in the computer terminal section above. Check to see if there is an export function, as it may automate your process for recording the information, creating a variation of the Master Index Sheet with their exported data. Or, you may just be able to print out each case, arranging them by filing date in a binder. SPECIAL TYPES OF PROBATES On your Master Index Sheet you have some categories. Most of the filings will be straight probates, which is the first category column, headed by the P. However, there are other types of cases you may find, and you should mark them appropriately on your sheet. Some may have marks in more than one category, such as a Probate of a Conservatorship. Let s look at these other categories: Guardianship If an individual is under legal age, or a minor when they die, it s a guardianship situation. It isn t common, but there can be real estate in the estate of a minor. A guardian is appointed, performing the role of personal representative, and selling assets to pay debt. If you have plenty of recent cases to investigate, you may drop guardianship cases down in the priority a bit, as there will be less likelihood of real estate being a part of the assets. 15
Conservatorship In this case, the individual is not deceased, but alive and mentally or physically incapacitated. The court appoints a conservator to liquidate assets to pay debt and to provide money to maintain the individual in a health or mental care facility. You ll be dealing with a conservator instead of a personal representative, but their role is the same. Trust Trusts are created to protect assets from probate, but it doesn t automatically mean that there isn t opportunity to purchase real estate at a good price. In this case, the personal representative will likely not be the Trustee of the Trust, but can give you their contact information. You can then give them a call to see if there is real estate to be sold. PUTTING ADDRESSES TO NAMES What you ve already accomplished puts you ahead of almost all of your competition. They re still out there reading obituaries and funeral notices, calling relatives, and generally being rebuffed for the effort. You, on the other hand, have a list of the most recent probate cases, as well as the name of the deceased. Now, we just need to locate addresses for real estate owned by that person. Most counties in the U.S. have computerized their tax records, so you will either be able to go to the courthouse and use a terminal for searches, or you may be able to search on the Internet at home or in your office. Call the county tax assessor s office and ask them how you ll be able to search property ownership and tax valuation records. Whether you re going in to search the records manually, using their computer terminal, or using the Internet, the following procedures will be roughly the same for all methods. Working Case Sheet Before you start you want to print one copy 16
each of your blank Working Case Sheet from the forms CD. This is a detailed information sheet on which you ll record a great deal of information about the properties you locate. Property Tax Value You ll be searching the tax assessor s records, and you ll find there the assessed value of the property that is used to compute the annual taxes owed. The tax value of a property is rarely equivalent to the market value. The tax value is usually lower than the fair market value. You ll record this amount, but later we ll talk about how you determine fair market value and what you re willing to pay for the property. Searching the Property Records At this point, you have a great deal more information than your competition, but there s a lot more to get. You ll search the property tax records using the one piece of information common to those records and the probate records: the property owner s name. Property owned by this person could be recorded under variations of their name. Let s use our previous example person, Mr. P. Jones. His middle name is Paul, so you could find property ownership recorded as: John P. Jones Mr. J. Paul Jones J. P. Jones Mr. J.P. Jones John Paul Jones Be sure to check on all possible variations of the name. Also, depending on the size of your county and the common nature of the 17
name, you ll find a lot of similar names that are not the ones related to this probate case. Do your best to get to those records that are actually for our Mr. Jones. Once you locate the property owned by John, you re now in a position of tremendous advantage over your competitors. This property isn t listed anywhere for sale at this point. Many may not even have been advertised yet in a Notice to Creditors. Using the tax information records, fill in as many blanks as possible on the Working Case Sheet. The more information you have, the faster you can put together your assessment of the properties to determine which you will want to see, and then determine value to you. This is the time-consuming portion of the process, as it takes a while to sift through property records and record detailed information about the properties owned by our Mr. Jones and all of the other owners on your Master Index Sheet. However, it s time well spent. Check the Zoning This is a step many investors will miss. It can, however, be an extremely profitable couple of minutes of your time. The zoning information will be a part of the property tax records. It varies, but most zoning plans use similar designations: R-1 is land zoned only for single-family residences. R-2 would accommodate duplexes or other 2-family residences. R-# could be a 3 or 4 or other. This would be for multiple residences. 18
C is often used for Commercial property zoning. A is usually Agricultural, but could be AG, with A being apartments, or even AP. I or M is used a lot to designate Industrial or Manufacturing zoning. Why is this important? Let s say Mr. Jones died at the age of 80, with a home in which he had lived for 30 years. During that time, the area may have changed, with zoning changing from single family homes to Multi-family or even Commercial. The land could be worth more than the structure, if they could replace a single home with six condominiums. By doing this research, you may dramatically change the expected fair market value of the property. The personal representative or executor may never even know the zoning or the potential for profits. Do this little bit of research and you may find a treasure-in-a treasure investment. WHEN PPP BECOMES APF, AUTOMATED PROBATE FINDER So far, we ve learned a dynamic process for being first in the door to purchase probate properties that we ve located through the PPP, Proven Probate Process. You re way ahead of your competition already, but you re doing all of the work here, and the list you build is from your efforts. Let s see how we can build an APF, or Automated Probate Finder process that will add properties to your list 24 hours a day, 365 days a year, whether you re working or fishing. We re going to look at ways that you can let the world know that you re available to help in 19
the probate process so that the heirs can receive the inheritance to which they re entitled. These methods are designed to be in front of the heirs, or even the personal representatives or executors when they are ready to deal with the probate process, provide helpful information, and get your contact information into the hands of those who are in charge of the property liquidation for the estate. Here are the basic steps we ll take: 1. Using flyers, signs, business cards and classified advertisements, you ll place automated response information numbers or website addresses out there for those involved in probate to see. 2. They call an automated response message line to get more information, or they go straight to your informative website to learn about the process and how you can help. 3. Your phone message and/or your website response mechanisms will cause those who can provide you with the information you need about the property and the personal representative to contact you. 4. If you re using auto-responder emails, you can follow up with information about probate and how it works, requesting in each that they provide you with the contact information for the personal representative so that you can follow up with them to help in the liquidation of assets. 5. Sometimes the person responding to your signs, business cards or ads will actually be the personal representative, getting them to you that much more easily and quickly. If your marketing material, sign, card or ad, directs them to your website, they can read the helpful information there about the 20
probate process, as well as your role in helping to speed it up by purchasing the real estate. Your site explains the process, how debts must be paid before heirs can receive their inheritance, and that the real estate must usually be sold to make that happen. The website doesn t give up all of your information, instead prompting them to call your pre-recorded message line, call you directly, or request informative emails with probate process tips. You also offer special reports for email delivery to get their email address. If you want to use a pre-recorded phone message, I m providing a script here that will provide good information to either a potential heir or the newly-appointed personal representative. It is designed to help them with useful information, but also to show how you can help to speed the process by purchasing the real estate so debts can be paid and remaining assets disbursed to the heirs. IF YOU CHOOSE TO USE A RECORDED MESSAGE I have arranged a special deal through the company COA NETWORK for my clients. I have listed their contact information for you in the resource section of this kit. A note about recording the script: Unless you have a real life difficulty with your ability to speak, I recommend that you personally record the message into your outgoing greeting in your own voice. The message is meant to position you as an advocate, (and what better way to do that than by having your real voice deliver the message). You ll want to practice reading through it out loud a few times until you re comfortable with it. The important thing is to speak normally. 21
The content of the message is strong enough to stand on its own. You don t need to Sound like a radio personality, just speak clearly and with commitment. People will know that you re genuine if you speak earnestly. Don t force it. Once this message is set up, you can use as many of the strategies in this system as you want to drive people to it. The beauty of it is this message will sift, sort, and screen the best possible deals for you, everyday, 24 hour a day, 7 days a week. It s an amazing tool! For more ideas on setting up a PPP recorded message please visit: http://www.getprobateinfo.com/members/ PROBATE PROCESS INFO LINE SCRIPT Thank you for calling the probate process information line. My name is (Your Name). Before we start, I suggest you get something to write with just in case. In this informational message, I ll be revealing important facts about the probate process, as well as problems and solutions that you, or the executor or personal representative will find of value. First, please accept my condolences, as you re likely listening to this message because a loved one, friend or business acquaintance has passed away. The last thing I want to do is intrude, so this number and message was set up for you to learn about the probate process without any pressure or having to speak to me unless you choose to do so. However, when you do begin probate of the estate, I believe that the information I m sharing here will help you as an heir or a 22
personal representative tasked with settlement of the estate. First, you re not alone, as there are usually hundreds to thousands of probate cases being handled at any given time in this county. The bad news is that some probate cases can take years to settle. It s not usually disputes that cause delays, it s more often the presiding over an equitable liquidation of some of the assets, paying off debt, and then distributing the remaining assets and cash as the will or the court dictates. In many cases, the single largest asset class in an estate is real estate. Whether it s a single home, multiple plots of land or residential properties, this is where most of the value of the estate rests. In most cases, the real estate must be sold to free up the required cash to pay off the estate s debt and leave something for the heirs. The personal representative, or the executor, must oversee the sale of the real estate. If that is your current role, I do not envy the responsibility you ve taken on. If you are an heir, you may want to have the personal representative listen to this message as well, or just give them my phone number, which I ll provide at the end of the message. There are several factors that control the amount of time it can take to sell a home or other real estate: The current state of the local real estate market, as supply and demand will always play a large roll in real estate sales. The condition of the property is also a major factor. Sometimes properties in probate range from needing only minor cleaning all the way through needing major renovations even 23
a complete teardown. This can be troubling for the heirs, especially if the property is out of state. The approach the estate takes toward pricing the property is a major concern, as it should take these factors into account. It is usually not feasible to undertake repairs or renovation of a property in probate, though you would think that a better price could be realized if this is done. There are many variables, plus the costs to do these renovations and repairs must be borne at the time they re completed. If it takes months to more than a year to sell it after that, this adds more cost to the estate. Never has it been more true that time is money than in the estate probate process. While a home is being held in probate, there are a number of ongoing costs: Utilities must be kept current in most cases, as turning them off creates difficulties in showing the home. Also, sometimes disconnecting a utility result in high costs to reconnect, especially if code inspections are required. Insurance must be paid, and sometimes the rate goes up in order to keep it insured when vacant. Some policies will cancel if they find the property is no longer occupied. Vandalism can result in more damage and lower property value the longer the property remains vacant. And, taxes never stop. There are frequently periodic court and legal costs the longer the property remains in probate. So, it s always important to sell the real estate quickly once the 24
decision is made to do so. This is where I can help. First, I ll come to you with my experience as an active investor in the local real estate market. I continually monitor the market; watch selling prices, and work with contractors in renovating and repairing properties that I own. I also work with a number of Realtors and other resources to keep my finger on the pulse of sales prices of properties comparable to those involved in your probate case. Years of experience and research are always in my probate briefcase. When I discuss the sale of real estate with the personal representative, I arrive with some of this information already prepared. Once we visit the property, I complete my analysis of value and present the facts. I provide comparable valuation statistics, costs for repairs and renovation, and any other costs that would bring the property to a condition that is ready for the market. Of course, this is a business for me, so there must be profit in the resale of the property after I make all of these corrections, repairs and renovations. However, my success in probate property investment is an indicator that I provide value to the estate process, and the personal representatives believe that my purchase has been in the best interests of the estate. If you re one of the heirs to an estate in probate, please bring this recording and my contact information to the attention of the personal representative, and call me with questions. There s much more we can talk about, so please feel free to call me on my direct line at xxx-xxx-xxxx, or leave your name and number at the end of this message, and I promise to call you back promptly. 25
This is (Your First and Last Name) thanking you for taking the time to listen, and I wish you the best in your probate process. THE AUTOMATION IN THE AUTOMATED PROBATE FINDER SYSTEM Now that you have the script ready for your automated phone message, let s look at some of the ways you can market your probate investment business, any of which can use either the website or the phone message system, or both is better! BUSINESS CARDS Remember when we discussed buying from bank or trust companies and others, (not personal representative friends or associates), these people do this as a part of their business, while many personal representatives will only do it once in their lives. So, having your information in front of these people when they get a new probate or liquidation to manage, could get you an immediate call before your competition even gets a chance to hear about it or see a notice in the paper. Don t just put your name and contact information on a business card and hand it out to these people. They are in a position to bring you advance notice of very profitable deals. Getting in the door and proving your value in their efforts to close out cases can become a huge business resource for you. 26
Don t Be a Bill Bored Carson Investments Probate Real Estate Investing Jim Carson P.O. Box 1234 Your Town, ST, Zip CALL 24 HOURS 555-555-1212 By that I mean using a mini-billboard, same old boring business card everyone s handing them. You ll not be noticed as different unless you hand them something different. Not only do you want cards for these professionals, but you definitely want special cards for the personal representative who s possibly overwhelmed with their new responsibilities. Some ideas: I END PROBATE LIQUIDATION HEADACHES FAST! I PURCHASE PROBATE REAL ESTATE FAST, AND GIVE YOU CASH JIM CARSON CALL 24 HOURS 555-555-1212 PROBATE PERSONAL REPRESENTATIVE? I bu y PROBATE REAL ESTATE FAST with CASH! SPEED THE PROCESS - LET ME HELP FREE RECORDED MESSAGE EXPLAINS Call Anytime 24 hrs/day 555-555-1212 You can print up variations of these cards and hand them out everywhere you go for business or personal visits. They re inexpensive, and you never know when someone will call because they saved this card when someone they knew had probate problems and mentioned them. 27
USING FLYERS TO FILL YOUR PROBATE FUNNEL Current technology has made flyers one of the most inexpensive marketing methods available to small business. Even if you don t have the printer that you need for producing flyers, you can have them done at an office supply store for pennies each, even in color if you need it. A flyer is an advertisement whose shelf life can be long if they take it with them. However, the time they spend in reading it can be very short if you don t get your message across with force and very quickly. There will be no shelf life if it hits the trash. The headline is where the rubber meets the road, so hit them with a strong headline immediately. It might be: PROPEL THE PROBATE PROCESS! Get Your Inheritance Faster Or maybe THE SECRETS TO SPEEDING UP PROBATE! You need to think like an heir who is either already frustrated with delays in a probate process, or they are about to start one and want more information. Then, make sure that the flyer gets the point across that you can provide valuable information to help them move it along. Locate just about any place of business or government office that allows flyers to be hung on bulletin boards or placed in racks or on tables. It is doubtful that paying a service to do flyer deliveries door- 28
to-door will be cost effective considering the subject matter in this case. You ll probably be more cost efficient in locating areas where you can hang or post your flyers. Flyer samples are available online at http://www.getprobateinfo.com/members/ BANDIT SIGNS FOR PPP Inexpensive corrugated plastic signs, also called Bandit Signs can be stuck in the ground to get your message out there. Strategic placement of these signs is free, and their low cost to produce makes them a great marketing tool. You can target neighborhoods, or, if legal, even place these signs in areas close to courthouses or legal complexes. Check local ordinances to be sure you comply, and expect vandalism and signs to disappear. However, with 12 by 18 signs costing as little as a dollar each, it s an acceptable risk. Don t go stick one of these signs up in front of a funeral home really. You won t make any friends doing this, with a negative backlash much more likely. It s too early in the process then anyway. (You could however build a relationship with a few funeral homes that may be able to refer you.) But, placing them near county buildings where the process begins could be quite effective. Or, what about near law offices of attorneys who advertise as probate specialists? Many legal offices are in neighborhoods that have residences and residence/office zoning. Try offering a homeowner $10 to $20 to stick a sign in their yard. A sign advertising that you buy properties 29
out of probate will get seen by those visiting the attorney. But, the same sign will be seen by that attorney every time they go to work. CLASSIFIED ADS Classified ads work. Otherwise, you wouldn t see thousands of them every day in the newspapers. Using compelling classified ads, you can drive people to your recorded message lines precisely when they are somehow involved in a probate process. As there will not be an ad category for probate, you will need to be creative and hope that the newspaper can be as well. That s not to say that an ad in the Miscellaneous category will not work, because it will. However, see if you can get the ad into a section close to the obituaries or funeral notices. With a strong headline, it will get seen by those about to be involved in probate cases. How to Write Your Ad When it comes to a classified ad, even if it s only three or four lines long, the headline makes the difference. A poor headline guarantees many fewer readers of the remaining text of your message. First, let s look at some example headlines you might use to catch the attention of the reader: Probate Problems? Waiting on That Inheritance? Get Probate Moving! Push Problem Probate 30
Cut the Probate Wait Shorten Probate! Shorten the Probate Process Avoid Probate Delay Avoid Probate Pause! Answers About Probate Those are examples, and you can think of some of your own, or mix and match a bit. The idea is to get their attention, so they ll continue to read. If they re not somehow involved with a probate, or know someone who is, don t worry about it. But, if they are, getting their attention could get your message number a call. You really need to be consistent with classified ads, keeping them in regular runs and in the same approximate locations. What about the rest of the ad? Let s look at some examples of fleshing these ads out from some of the headlines: Inheritance Stuck in Limbo? FREE RECORDED MESSAGE Call anytime 24 hours a day xxx-xxx-xxxx WAITING ON THAT INHERITANCE? Get one delay out of the way. Call for free pre-recorded message 24 hours a day xxx-xxx-xxxx 31
Answers About Probate SPEED THE PROBATE PROCESS 24 hour pre-recorded message xxx-xxx-xxxx SUDDEN PROBATE RESPONSIBILITY? Get answers and help fast. RECORDED MESSAGE xxx-xxx-xxxx Get help in asset liquidation. These ads are directed at heirs waiting to get their inheritance, as well as the last one specifically directed at the person who has just been notified that their past appointment as personal representative is now a duty they must fulfill. Once you decide on the text for your ads, you might rotate them now and then to test which are the most effective. Just remember that running and stopping isn t the best way. Have an ad in the paper every day or weekly at the least. Try to keep it in the same area of the classifieds as well. Test areas and ads, but settle on location and regular runs in the end. PROFITS THROUGH PAY PER CLICK MARKETING If you re using a website, which is highly recommended, then PPC (Pay Per Click) marketing is an amazing resource to bring highly targeted traffic to your site. What do I mean by highly targeted? What if we told you that you could, for as little as a nickel a click, bring a visitor to your site that is searching the Web with a search 32
like Your County probate? Well, you can get that click. There are some very basic factors that will determine your success at PPC, and how much you spend for that success: Your research of keywords used by your ideal prospect Knowing your product, and providing good information Creating proper pages for their arrival with the search click Plan and test numerous ad variations Decide on the keywords/phrases you will bid Develop and set a realistic budget Set your bids Track the results As an example of researching keywords and phrases, here s an actual screenshot of the Google Keyword Tool page that came from a request for searches related to the word probate. 33
Take a look at the number of searches on very specific local county probate key phrases. The second column, showing the average price per click is just an estimate, as that was for top position. You can get traffic at lower per click costs just by bidding lower and having better CTR (Click Through Ratios). Let s explain CTR and how both Google and Yahoo use it to give your ads a quality rating or score. CTR is a percentage number derived by dividing the number of times someone clicks your ad by the number of times it was presented, or otherwise called the number of impressions. Example: Your ad showed up in 1000 searches, and was clicked on 50 times. That s a CTR of 50 / 1000 =.05 or 5%. Believe it or not, that s a pretty good CTR that some advertisers strive for but never reach. Also remember that you only pay in PPC when someone clicks on your ad and comes to your site. So, if you got those 50 clicks, paying say $0.60 each, you spent a total of $30 to get 50 highly targeted searchers to your site. That s VERY focused marketing! You can see in the example that top positions were being generated with just such per click bid costs. Yahoo has a similar bid estimation tool that will give you the same information, how many average searches, and estimated cost to get good positioning for your ads. But, back to the reason for wanting a good CTR. Both Google and Yahoo reward higher CTRs. This means that your ad can show up in a higher position above a competing ad, even though the amount of your bid for the click is lower. Why and how? Your ad wording is critical here. It s a lot like 34