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 [https://probateinvestingsimplified.com/starterkit]    Probate Investing Simplified Course [https://probateinvestingsimplfied.com]            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 [https://sharonvornholt.com/], Instagram, [https://www.instagram.com/sharonvornholt/?hl=en] and LinkedIn [https://www.linkedin.com/in/sharonvornholt] Or you can send me an email at sharon@sharonvornholt.com Be sure to check out the Louisville Gals Real Estate Blog [https://louisvillegalsrealestateblog.com/] and my course Probate Investing Simplified [https://probateinvestingsimplified.com/]. Learn more about this podcast on iTunes [https://itunes.apple.com/us/podcast/sharon-vornholt-lets-talk/id784109559?mt=2], or Stitcher [https://www.stitcher.com/podcast/sharon-vornholt/louisville-gals-real-estate-blog/e/42515974]. 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 [https://www.facebook.com/groups/795700988329071/]  Discount Code For Coaching with Dan: Probate Queen Probate Course [https://probateinvestingsimplified.com/] Freebie: Probate Investing Simplified [https://probateinvestingsimplified.com/starterkit]   CRM (there’s a free version) [https://sharonvornholt.com/invelo]     Book Mentioned: “Get Different" by Mike Michalowicz [https://amzn.to/40JHWOz]   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 [https://sharonvornholt.com/], Instagram, [https://www.instagram.com/sharonvornholt/?hl=en] and LinkedIn [https://www.linkedin.com/in/sharonvornholt] Or you can send me an email at sharon@sharonvornholt.com Be sure to check out the Louisville Gals Real Estate Blog [https://louisvillegalsrealestateblog.com/] and my course Probate Investing Simplified [https://probateinvestingsimplified.com/]. Learn more about this podcast on  [https://itunes.apple.com/us/podcast/sharon-vornholt-lets-talk/id784109559?mt=2]iTunes [https://itunes.apple.com/us/podcast/sharon-vornholt-lets-talk/id784109559?mt=2], or  [https://www.stitcher.com/podcast/sharon-vornholt/louisville-gals-real-estate-blog/e/42515974]Stitcher [https://www.stitcher.com/podcast/sharon-vornholt/louisville-gals-real-estate-blog/e/42515974]. 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 [https://louisvillegalsrealestateblog.com] Let’s Talk Real Estate Investing Podcast – How the Silver Tsunami Creates Massive Opportunity for Real Estate Investors [https://louisvillegalsrealestateblog.com/silver-tsunami-massive-opportunity-investors/] Probate Investing Simplified Course [https://probateinvestingsimplified.com] FREEBIE: The Probate Investing Starter Kit [https://probateinvestingsimplified.com/starterkit]   Books Mentioned: The 12-Week Year by Brian Moran [https://amzn.to/47o5omJ] The One Thing by Gary Keller and Jay Papasan [https://amzn.to/49mhgHL]   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 [https://sharonvornholt.com/], Instagram, [https://www.instagram.com/sharonvornholt/?hl=en] and LinkedIn [https://www.linkedin.com/in/sharonvornholt] Or you can send me an email at sharon@sharonvornholt.com Be sure to check out the Louisville Gals Real Estate Blog [https://louisvillegalsrealestateblog.com/] and my course Probate Investing Simplified [https://probateinvestingsimplified.com/]. Learn more about this podcast on iTunes [https://itunes.apple.com/us/podcast/sharon-vornholt-lets-talk/id784109559?mt=2], or Stitcher [https://www.stitcher.com/podcast/sharon-vornholt/louisville-gals-real-estate-blog/e/42515974]. 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 [https://investormeldave.com/] YouTube [https://www.youtube.com/channel/UC-tZnYKP3Klse6plRKKBVOw] Facebook [https://www.facebook.com/InvestorMelDave] Instagram [https://www.instagram.com/investormeldave/?hl=en] LinkedIn [https://www.linkedin.com/company/investormeldave/] TikTok [https://www.tiktok.com/@investormeldave]   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 [https://sharonvornholt.com/], Instagram, [https://www.instagram.com/sharonvornholt/?hl=en] and LinkedIn [https://www.linkedin.com/in/sharonvornholt]   Or you can send me an email at sharon@sharonvornholt.com    Be sure to check out the Louisville Gals Real Estate Blog [https://louisvillegalsrealestateblog.com/] and my course Probate Investing Simplified [https://probateinvestingsimplified.com/].   Learn more about this podcast on iTunes [https://itunes.apple.com/us/podcast/sharon-vornholt-lets-talk/id784109559?mt=2], or Stitcher [https://www.stitcher.com/podcast/sharon-vornholt/louisville-gals-real-estate-blog/e/42515974].   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 [https://probateinvestingsimplified.com/] 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 [https://probateinvestingsimplified.com/starterkit] Probate Investing Simplified Course [https://probateinvestingsimplified.com/]  The Silver Tsunami Podcast Episode [https://louisvillegalsrealestateblog.com/silver-tsunami-massive-opportunity-investors/]  Louisville Gal’s Real Estate Blog [https://louisvillegalsrealestateblog.com/]   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  [https://sharonvornholt.com/]website [https://sharonvornholt.com/],  [https://www.instagram.com/sharonvornholt/?hl=en]Instagram, [https://www.instagram.com/sharonvornholt/?hl=en] and  [https://www.linkedin.com/in/sharonvornholt]LinkedIn [https://www.linkedin.com/in/sharonvornholt] Or you can send me an email at sharon@sharonvornholt.com  Be sure to check out the  [https://louisvillegalsrealestateblog.com/]Louisville Gals Real Estate Blog [https://louisvillegalsrealestateblog.com/] and my course  [https://probateinvestingsimplified.com/]Probate Investing Simplified [https://probateinvestingsimplified.com/]. Learn more about this podcast on  [https://itunes.apple.com/us/podcast/sharon-vornholt-lets-talk/id784109559?mt=2]iTunes [https://itunes.apple.com/us/podcast/sharon-vornholt-lets-talk/id784109559?mt=2], or  [https://www.stitcher.com/podcast/sharon-vornholt/louisville-gals-real-estate-blog/e/42515974]Stitcher [https://www.stitcher.com/podcast/sharon-vornholt/louisville-gals-real-estate-blog/e/42515974]. If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!