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 sharon@sharonvornholt.com

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 sharon@sharonvornholt.com

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 sharon@sharonvornholt.com

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!