Estate Professionals Mastermind - More Than A Probate Real Estate Podcast

Stop using your vendor list as a lead magnet! PLUS: Live probate script role play

January 12, 2022 Chad Corbett and Certified Probate Experts Episode 39
Estate Professionals Mastermind - More Than A Probate Real Estate Podcast
Stop using your vendor list as a lead magnet! PLUS: Live probate script role play
Show Notes Transcript Chapter Markers

Episode 39 of Estate Professionals Mastermind - Live Probate Training with Certified Probate Experts

Full show notes, time stamps, video stream, and resources: https://probatemastery.com/stop-using-your-vendor-list-as-a-lead-magnet-plus-live-probate-script-role-play-probate-podcast/

Watch this as a webinar on YouTube: https://youtu.be/39Qzpp6Mp1U

Key takeaway: Don't be afraid to gatekeep your assets.

In this episode, Certified Probate Experts share tips and insights about the probate process, creative real estate marketing strategies, cold calling scripts, team-building, and asset protection. 

Topics include why you should play gatekeeper rather than give your vendor list away as a lead magnet; how the SubTo life will bring a wealth of opportunity to those willing to learn and use creative finance strategy; how a single USP can pre-emptively answer the most common probate cold call objections; and strategies for protecting wealth offshore.

Thanks for tuning in, and if you want to join the CPE Mastermind community, check out Chad Corbett's Probate Mastery course:  https://probatemastery.com/probate-training-course-for-real-estate-agents-investors/ With over 300 5-star reviews from Certified Probate Experts, you're sure to take away massive value from the course no matter what your current real estate strategy is.

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Join our Facebook Group: Estate Professionals Mastermind
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Welcome everybody to the weekly probate mastery group, coaching call, anybody's getting stuck or anything new, you figured out that you'd like to share? Hey, Chad I'll share a little bit. This is Hervic down in Miami. I have a VA that I got off of Upwork. She's been making calls for me between nine and 11 in the morning. And I had to get on a call with her today cause I checked on mojo and I was comparing what I'm being charged on Upwork to her dialing time. So I had to comment on that. Hopefully she adjusts what she's been doing. But she's been getting me leads. I got 14 leads since we started in this. Some are people that making a decision in the next couple of months coming up. Some have said that they have to wait for the probate to, they want to sell the property, but it's in probate. So, what is it? I can tell them, Hey, cause I know from whatever. It depends on the state that you could sell the property before the probate is complete. You need court confirmation, but that does not mean that you can't go ahead and put it on the market now or give them a purchase agreement. And the state of Florida, it's not as complicated during the course. You heard me talk a lot about California because it has the most complex process, but in Florida you don't have the no referee. They don't, order an appraisal or get a referee opinion of value or BPO or anything like that. what they mainly want to see is what are the liabilities? What are the assets? And are they dumping it at such a low price that the liabilities can't be settled beyond that the Florida court system doesn't seem to mind? I've seen them bought at 20 cents on the dollar. And the judge approves it. So we're gonna just focus on, as long as they have the letters testamentary, if they've been granted the authority as a representative, go to a purchase agreement or a listing agreement and just move through it with the attorney. Typically you're going to have, in a pre COVID environment and Florida, usually you would have a, about a two week waiting period at most to get the approval and move forward with the trends. I appreciate that. I am in Miami, Florida now, but my markets, since 2015, it has been Atlanta. So I'm actually marketing and Fulton county because I was doing real estate up there since 2015, just at the last year. Since the last year, I've been more in Florida than up there. Yeah, well, that's great. So tell us about your VA. I'm assuming it's off shore VA. She's in Jamaica. She's probably the fifth VA that I've used. The other ones never really worked out and she's been working with me since December. She's great. Because she's done this before. I was like, I started the conversation with, Hey, Tiffany. You're great. I really like you. I want to keep you on the team. However, I'm observing these things From a business owner's perspective. I feel you're, long story short, she's on the clock for five hours, but she's only given me two and a half hours dialing time. I'm like, you're taking a lot of breaks. I get it. You have to take a break here and there, but you're on for 20 minutes, you're off for 20 minutes. You're on for 20 and I'm being charged for all that. So can we, you know, bring that up, but other than that she's good. The English is good. And she's getting me leads that's for sure. Every week, she's, she's putting them into the lead folder. Are you looking at scaling this into the Miami market? Yes. All the leads gave me a list from July. Miami-Dade and and we've been making calls to that list. It's just that I have my whole team for the most part. I was fixing and flipping up in the Atlanta market. So my, my team's mostly there, but yeah,one or two closings get some money coming in and I definitely want to open up the market down here, Miami. you might consider a Spanish speaking VA to add as your Miami person. For sure. Cool. Lots of hands up. Thanks for sharing that. Hervic. Bruce, you're up first. How can I help you? Yeah. I just thought about this a day or two ago and I wanted to wait until we got on today. So I have some clients and this is probably a legal question, but I'll just throw it out there. Anyway. I have some clients say on two properties here in Washington and they live overseas. One of the spouses is a us citizen, but the other one has lost their green card because they've stayed out of the country for such a long time now. Let's just say that the us citizen passed away and then they had to probate the Property and, they're subjected to that higher tax rate if you don't have legal status here in the U S so have you heard of anything that has taken place like that and what do you think I might, but obviously I'm going to direct them to an attorney, but I was thinking maybe, you know, if something ever happened to them, then, they might be facing a financial. pay out little more than they have to. So are they married? Yes. So can the foreign national spouse, can they get in the country on a travel tourist visa? Yes. So tell them to come back in on a tourist visa and then file the. There was a change of status form. I'm trying to think of the name, the number of it, if she can reenter on a a tourist visa and then go directly to immigration and file for change of status, then she can probably recover that green card. Right, right, right. Yeah. They've lost it a couple of times. So they just said the last time, they're sovereign citizens. Right. Are they more affluent and have a higher net worth? Yeah. Yeah. Yeah. They, they're. I would recommend setting up potentially depending on their level of wealth, even an international asset protection trust. So just move all of their assets onto the cook islands or nevus, and just forget about it. If they're going to be global citizens. Pick the one most beneficial jurisdiction in the world. So if they're a fluent and they have wealth to protect for about $30,000, they can set up either a bridge trust or a full-blown international asset protection trust. There's benefits to either, but if they're living across borders like that, right, it's very cheap insurance. If you, how many people pay a thousand bucks a year for auto insurance? Like I do, across my vehicles. So if you look at that over a 30 year, if you look at it as an estate planning tool and spread it over 30 years, you're basically paying a thousand bucks a year to have full legal liability. And you're in a jurisdiction where one of the great benefits is it costs somebody a quarter million bucks, even follow a lawsuit against you because they have to pay a retainer fee. And on a filing fee and the cook islands equal to about a quarter million bucks, you've got a six month statute of limitations. So if if your defense counsel can keep the case open longer than six months, then it's dismissed. So there's a lot of legal protection that comes along with it, but it might also be the best. I think it sounds to me like what limited details I have. It's probably the best type of estate plan for an individual or a couple like that. So then they're not subject to any of this. You know, they have a trust agreement that says what happens when party a or party B passes away and their money is on a global, and the tightest toughest jurisdiction for anyone to get out in the country or in the world. What did you call that? An international way? International asset protection trust. The other is a bridge trust. The difference there is. So there's a structure that's, I think it's trademarked by the law firm, but in Arizona there's a law farm that will actually set up a international asset protection trust. So it's, I believe it's a Belize trust with a cook islands, trustee. But the trust is then there's a bridge created to an Arizona limited partnership that holds all of your assets. The difference there is you just report one page to the IRS. When you have a bridge trust, if you ever get into a lawsuit or a divorce or something happens, you already have directed the trustee. If these events happen, then cross the bridge. With the bridge trust, it will automatically move your assets into the international asset protection trust with all those protections then, and only then does your IRS file filing requirement become that of the actual international trust. it's lower cost to maintain over time. And as long as it's properly structured, where the bridge is created, When the international trust is created, then you have no liability. there shouldn't be any issues. That one's going to be, they're both roughly about $30,000 to establish. The bridge trust will be two to 3000 bucks a year to maintain an international asset protection trust will be somewhere between six and 8,000 a year to maintain. Depending on how much your CPA charges, but for more fluent people, especially ones that are kind of sovereign citizens that are crossing borders and, subject to this jurisdiction of law on this for six months in this jurisdictions for that it's probably time for them to do something like that. Revert back to Bruce. I don't even know if he's still there, but I think that what he was asking, the question he was asking was FIRPTA, which is the foreign investor. And he's called the foreign investment in real estate in real property transfer act, which is required by. Any required any buyer of it, you with this real estate interest who we'd hold any foreign buyer, I'm sorry of us real estate two we'd hold 10% of the amount realized by a foreign seller. So FIRPTA is actually a law that was enacted in 1980, the foreign investment in real property tax act to where if you look at our contracts Our sales agreement and our purchase contracts and everything. There's a section for FIRPTA in the Florida contract on the bottom. So I think Bruce, that's what he was mentioning. That one parties, one of the decedent was sport. And so was his wife. They lived out of the country. So I think that if that's the case and that's how it's registered as a title, they would automatically have to we'd hold it. Or they would have to speak to a CPA that specializes in. If the asset was out in trust, a foreign individual doesn't own it. A trust does. Yeah. Okay. I thought, okay, this is the first light here, that international asset protection trust. So I definitely want to look into it. Thanks so much. Follow the billionaires and politics. Okay, great. Thanks. Yeah, Bill gross. I see your hand up. How are you, sir? I'm great, man. How are you? You're in VA this week? I guess it wasn't the VA. It was your admin. Oh, yeah, I'm not here now. It's here this morning. We can have been every day. It's part of the our he's working virtual this morning, I guess you would say, first off he asked about plans and I just wanted to save my plan is again to do over 30 transactions. Hopefully my number is 35 for this current year, while I'm doing other things to build my business, all my lead generations in this probate space. I really appreciate we're you know, I started this with you three years ago yesterday. I got my first escrow went to court. We overbid at court confirmation sale on a nice commercial property. I'm excited about that. I'm excited to share, when I took your training class, I was almost disappointed that you had all these vendors and you talked about how you had all these other people we work with. And I just never had that experience. I bought maybe did a trash out on one deal, or I did one other insurance referral and another, but I have an S listing right now and we have. Take it to market and I've done trash out locksmith, the state sale insurance and firearms dealer. And we're still going. It's almost time to bring in the social worker. Well, just to see they live in the east coast, so they're already covered in that department. So I thought about that. So I'm going down the list, looking for others, trying to figure out what else I can do to bring value. But I just want to, for those who are listening to me for the first time, or as reminder. The idea is to look for opportunities and one of these on the way I go, ah, I have to deal with this. I have to deal with that. But there are also opportunities to reach out to these vendors as part of my marketing partner business. And so I'm trying to, I'm focused on coming from being a service. And as a result of that, my businesses is flourishing and yeah, it's a lot more work that I'd like to do. And I have a team member helping me to help recruit thanks to your system as well. But anyway, I just had to share with the thrill of having five vendors so far one property. Yeah, well, that's awesome. So I think a lot of people freak out when they first see that vendor list, it's oh my God, I need these 36 people. And it's true. Sometimes you can go three years and not really have to lean on them at all, but I've had some where I'm like, my gosh, what am I bringing the firemen in on this day? Oh, I left doc. Cause we cause they, the cats, I guess net city they'll take cats out. So we had to call the animals group and they're going to, but we had to get the cat in a carrier. So that's a whole nother thing we had to do. I left that off. So this is one of those deals where we're going to go through your Rolodex, that your, a list pretty deep, I think this time. Yeah. Well, that's awesome. It's a shame they're out of market because they would refer you every, everyone they possibly knew after the service you provided. That's how it is, but thanks. Yeah. Denise, I think you were up next. Oh, hi. Okay. So I'm new. I just finished the probate mastery course and I signed up for all the leads. I am building my team right now. I want to know from you, anybody here is that when they build a team like the contractors, the property management and nursing homes and all that stuff, do they put it, do they put the link on their website or did this have these people listed? You can put the title of the team member. Don't put the contact information because Who do you most not want to have access to that list? Okay. Other, your competitor. I didn't even keep a written list, a publicly facing written list. If you want to know who my vendors are, you look me in the eye for it. And then the justification for that as well. I need to understand once I understand your situation, I'll understand who on my team is the best suited to help you. So it starts with just a simple conversation. We can sit down tomorrow at three or five 30, which of those works best? A lot of people will say, well send me an email and there's something you can send me. And a lot of folks will, be the golden retriever sales dog oh yeah, let me just send you my, my most valuable asset. I'll send you my vendor list and that's weak when you can say, well, actually, We don't really do the email thing. We prefer to meet face to face. This is a people business and we're here to help people. So I can email you a funny joke that I saw yesterday, but if this is about the estate, why don't we just go ahead and meet? So, you know, You can trust me and it works every time. If they, they give you the brush off and try to get you to email all the details. That just means they don't see value in what you're offering. So you might as well take another pass at em. So it won't be often that you'll actually need your vendor list. For us, we kept it in, just in the database, but you can do use titles, like in your marketing, you can say, we have contractors, clean-out crews, social workers, SPCA reps, I just want to make a point what Denise was talking about regarding not to just send out your lists. And it's so funny because my my mentor for my YouTube channel in her course, she actually teaches people to use lead magnets, to use things like. My preferred vendor list, and I'm now switching that up because I talked to my marketing guy who designs websites, and a bunch of other stuff. He's no, just use your booking calendar for everything. And so now I'm changing things up and that's actually going to save me a lot of time because now I don't have to create landing pages for those lead magnets. So, that was a huge save for me. thank you for mentioning that. Okay, one other question. I do have a new client. She inherited her grandmother's and her mother's property. They both died like probably a month from each other. So, yes. And um, she was granted the PR for one, but when she went to court to get the other, he said that she needed to be bonded and the court, I think she told me that. They wanted an attorney. She had to go through an attorney to get bonded. And I told her, I don't know if that's you have to do this. So I went online, I looked upon it companies. And none of them said that you had to have an attorney. From what I gather, you pull up, pull off this application and you fill it out and send it back to them. I don't know. So, yep. So I'm guessing one of the estates did have a will and that will waived the bond and the other did not. So they're requiring a bond, is it. Yes. Nine times out of 10, the court will actually waive the bond, even on intestate succession. If you ask, usually the attorney knows enough to ask the typical place to purchase the bond would be through a probate attorney's firm is not required or necessary to do it that way you can go third-party if you'd do they intend to use an attorney for the. Yeah, she does. But she was under the impression that she had to use a separate attorney to get the bond. No, and I, yeah, so whoever she chooses to, to help with the probate will be able to help her get the bond or get the bond waived hopefully. All right. Well, thank you. Okay. How are you, sir? Hey Chad! Doing well. Thank you. But what I'd like to do, if you don't mind, is pick Hervic's brain. I see that he's still on there. I love to hear more about, the script that they're using and the time that they're calling, I need to get on the phones pretty quick and I'd love to hear whatever tips.. Yeah, Hervic you're up, man? Well, yeah, I'm more than happy to and shout out to Richard Dela Cruz him and Stanley. And I, we do some role-play every Tuesday and Thursday morning. So shout out to them, but yeah, Winston. Well, one of the parts of the conversation today opens me telling my VA that I want to start recording the calls because on mojo there's that option, but we haven't used it. And I told her, as for positive criticism for feedback I assume that she's using the ISP that I created. And that's what I use when I'm making the phone calls. I created a little ISP. That's what it's called. The ISP USP, a USP that I created. I'm always fine tuning it, especially because we do the role-play Richard I and Stanley. And so I fine tune here and there, but that's it. I just use the USP and I asked my VA to do so whether she's using it or not, I'm not a hundred percent sure. Eric, would you mind just running through your script doing a live role play? Yeah, here I could let me just pull it up really quick and I'm going to stumble through it a little bit because I've been adjusting it. Yeah, you do you want to start from the top? I'd love just to listen and take notes. No. Nope, Nope. Nope. Okay. Rang. Hey Winston. This is Hervic hi. How are you doing today? I'm doing awesome. Wednesday then we'll wait. Well, I'm calling today to introduce myself and my probate resource team built to eight Roby, a probate representatives in charge of settling estates. The value my resource team provides helps families and making more informed decision. Within the probate of realm and within, in which in the end can save you a significant amount of time and money. Let me ask you, Winston, do you have a few minutes, so I can tell you more about the resources we provide or do you feel you got a good grip on things so far? I think I've got a pretty good grip. I've got a pretty good attorney, but my curiosity wants to hear for a minute or two with. Okay. Yeah, I w I want to keep going, but I don't know. I'm maybe a little shy, but but that's my USP. That's my USP. Winston. They've got a group that they've been meeting and doing role-plays. It sounds like maybe you want to try to get an invite to that group. Richard's up next, Ray, Richard, jump in here, man. And everybody's going take a couple of questions here. What are your thoughts on presenting yourself as a conflict name? When it's an outbound call and you say, I'm over here with integrated probably. Instead of saying your name, just like a company name. How do you feel about that? I still think you should use your name. Just using just a first name. So this is Chad from integrated probate solutions. I was calling because we were actually meeting with the clerk yesterday and she gave us the names of all the families that we think we can help. So today we're reaching out to each and every one of you have you got five minutes and just just be rich. It's okay to use, if it's Richard from, some people are like, we buy houses cheap LLC, and don't use a company name like that. If you have a, like a transition specific brand, that's, the brand created. With sensitivity in mind. So it's great because it differentiates you because anyone else will be calling from ABC Realty Corp, or we buy houses LLC, or, prosperity, hope home buyers or some shit like that. So it sounds like you've got a good brand that wouldn't put them on guard. It would be, it would elicit curiosity. So I wouldn't use it. Okay. W what about incorporating it or making it like some sort of company, because one guy was like, wait a minute, let me write it down. Oh, I repeated it. So what would you maybe legitimize it? I don't know if I'm using the right word. I don't know if it needs, doesn't necessarily need to be its own entity. It can be a DBA or just a brand. It's a good to give them something to. So to be able to look up, look you up. So have a Facebook page. You have a Facebook group have a website, with those things on it, with an about page. And then, even if you had brand.com on your about page, you can say, this web asset is owned by ABC real estate, llc.com. You can always put that in there for compliance. But it gives them something somewhere to go find find out more about your service. So a Facebook page, a website and then make that, put that brand front and center on that. Cool. You end up probably matter. You spoke about putting together a list pending class or pre. It just comes down to timing. There's not really a whole lot of pre-foreclosure in the marketplace right now. I would expect that the beginning of that will be in March. Jerome Powell is just rattling his saber right now. I think what you're going to see is. And, here's me and my crystal ball, but you've got a country strapped and consumer debt strapped in student loan, debt, auto debt, government debt, corporate debt, the federal reserves buying junk bonds, as fast as they can right now, they're about to slow that or taper that the asset purchasing. And they're going to raise rates, three to four times is what they're saying in a cyber rattling, starting in March. So what you're likely to see is equity prices go to hell, probably a 30 to 60% correction in stocks. Whenever they try to taper, it's going to look a lot like mid to late 2018, and you'll have, the taper tantrum in the markets. That's when companies, when they lose access to cheap debt and they quit being subsidized, then they're likely to start laying off mid-level management. And those will be the first, you know, those that's the meat of the housing market. And then once those layoffs happen, inventory should ramp up the market, should kick and the other direction and probably by Q3. We might see those actually start to roll through where subject. I think this is a setup for subject two investing, probably a once in a lifetime opportunity to pick up assets subject to because we've people have been buying payment, not price as. And when their life situation or employment situation changes and they have to move and they can no longer sell that house for the price they paid at the same payment because rates have risen. Then they're going to be stuck with the choice of, do we sit and let it eat cash? Do we turn it into a long-term rental, a short-term rental? Or do we try to. So you've got some time to prepare is my point. I think it's probably mid to late 22. That timeline has gotten pushed out since, early 2020 when I made the call on that. It all depends on how much intervention we see from the federal reserve and how long they keep rates, suppressed to the levels they are. I think they're in a conundrum and I think they, they may have to move rates and then move them right back. But if they do move rates, 20, 25 basis points as they're threatening to, some people are going to get pinched. Cause it's going to collapse equities prices, which is going to ramp up on employment and jobs that matter. And that's going to spill over into housing. I don't care what the supply and demand is. It's going to come through the people who overpaid 20, 30, 50,000 bucks, aren't gonna be able to get that same price if they have to sell the asset. So there'll be opportunity there. I'm not sure how big it's probably not going to be on the scale of 2008 just yet, but as the sets, then over time, if inflation continues to run out of control, which it's likely to considering the amount of, currency expansion, they put into the end of the. It could run for five, 10 years where you'll have opportunity to pick those up. So it's the reason it hasn't been released is mainly just timing. Like it's, I don't want you to spend money on a course right now. That's not that relevant. And I don't want to design a course that is based on. Look at the past pre-foreclosure or foreclosure crisis. I'd like to better understand what forces are causing it. What I see coming and be able to talk about that in the cour when the time's right. It's all there. It's just a matter of when does it make sense? Okay. Thank you. One more question. How can we download the. This recording, or can we be this way is just go to, I go to apple podcast and any podcast platform. It's on Stitcher, Spotify, apple, Amazon and just download the podcast version. Okay. You can also download the YouTube video if you'd rather have the video. Okay. Got it. Thank you. Yeah. All right, Dan, the man, how are you? How's everybody doing happy new year. It's been a little bit. And so I'm regarding back to homework you had given me about Florida is Florida lawyers encouraging people to not file for two years in order to avoid something. And just the little search that I actually looked into it says section 7 33, 7, 10 Florida statute states that a creditor's claim is barred. If the creditor does not file a statement of claim in a decedent to state, we can two years after the death of the decedent, therefore after two years, all claims from creditors of the decedent are permanently. So it's never published notice. I'm sorry. So is your interpretation of that? If they purposefully never publish a public notice to creditors, they still it's still discharges the liability. That's how it appears to be based on their advice to several people. If you remember, we were discussing something with a gentleman running into it, and I had heard about it twice in about a month. And as I read a little bit more of the statue, I'm not gonna lie. I didn't really delve much into a whole lot of it. But the basic understanding was they did have some stipulations after that, that he came to death for mortgages and lien holders as far as to the property itself. But he did exclude some. Some creditors from that. So the only stipulation was that not tying fame of file. That's how I understood it. And that's probably why they continue to encourage that to be a factor in some people's estate plans, the or whenever. It's actually written that way. You read the specific language. It didn't say, if there's a failure to notify creditors then, and I couldn't find it into your official statute as well, to where it's specified notice as coming off of the attorney's website. Yes. Yeah. This one came from the on, sorry. Hold on in. Are you in California for. Well, Florida. I knew in California, we have that. I was looking at the code the other day, and I know like probate advances, anyone who has a claim, unless they file it against the probate case. Or again, even if it's just in petition before, as long as they could put a lien on a house, but unless they file it against the probate case, it can be thrown out if they don't do it within a certain period of time. And I think in California, it's within one year from the date. Yeah, John franker was mentioning something about, he was pretty much counter-intuitive and they were actually filing the probating order to stop certain things in Florida, myself. I had heard about it. And then another gentleman that came on card that a lawyer was encouraging the family to wait until the second year to start the process itself. And the way that this was. And the way that I, when I did the research, the only qualifier here is the passing of the person. It didn't have anything to do with filing any paperwork to start the probate. So several lawyers locally having courage. To waiting till the second year in order for some aspects of depth to fall off of the estate, to where they wouldn't be able to claim it. I, like I said, I've read into the statute and I can find anything. It just says that if they don't within two years of the debt, no other qualifications, that is barred mortgage doesn't apply, but others like credit card or whatever, you may be smaller debts. I guess he wouldn't. There are certain qualifiers, but at thirties they're encouraging people to wait a little bit, especially they have smaller estates. I'd be a little apprehensive in that regard. And I probably talked to my attorneys about that instead of just hearing that what you're hearing that some people are being told this from attorneys, just because from a standpoint of creditors, you don't make payments for so many days, you get all these lights on your credit report. Okay, fine. This person has passed away. So the credit report's not going to matter so much, but ultimately they send, sell it off to a credit credit recovery agency. And they do deep dive research to find people and to figure out what assets they may have had. And so there could be some potential where they would find out. And within that two years, they could still be able file the claim. And I wouldn't be surprised if they're looking to see if they have a probate case. All right. Then there could be a possibility too, where the lawyers are speculating or guessing that even though somebody has gone in to some kind of a default, by the time credit companies get to collection agencies by the time this and that happens because of whether they're busy or the amount of debt, I don't know what the qualifiers. They might not catch up to that time. And then after that, it'll just dissipate since the person's already passed away. I don't know the exactly. Yeah. And another solution in my thinking is that if the estate is thinking, they're not going to have enough with how much mortgage liens there are the value of the property, they don't have a lot of cash assets that might be an opportunity to be an investor on the. And partner with them to flip it so they could make more money, look at ways that they can capitalize on what they can't. They do have, particularly with flipping the property or can they get equity out of the property to go and do a flip and partner with you on the flip, they could be your gap funder to bring them some more money so that they could offset those losses of those debts. That's yeah, that's helpful. And I appreciate that. Chad had given me the homework to figure out where I heard that and to back it up a little bit. So I try to do a little bit of that. I, and it was just, information. Like I look looking into whatever avenues that I can. Help families or, partner or whatever, you may be all the time, but this is something that keeps peeking its head here around and families are getting this advice. It needs backed up by a statute. So it's hard to argue that statute you can't, it's difficult to make a lawyer rush when he thinks he best for his client, that they wait for two years. So that's where I was. Chad, this is Jay Hawk. Can you guys hear me? Hey, I want to thank you Dan, for actually raising that question. Because it made me really do this deal with this, a small dive here in Texas. That unsecured creditors have only four months in Texas, or monster public. If notice is published. If noticed, if notice is what he's saying is the attorney in Florida is saying don't publish anything. We're not even going to file this probate. We're going to wait two years and cut the creditors out of their own, out of what they're do. So, yeah, he seeing that as being a super fiduciary and protecting the family the creditors are going to look at that differently. And what I would say is common if our accreditor in the state of Florida, and I could validate that statute, I would be a subscriber to the social security death list. And I would be filing personal knowing I would be filing probate for these families. I would be the petitioner as a creditor, I would petition the court and open probate and they can designate whoever the hell they want. It was a personal rep, but I'm going to get my money. If I'm the creditor, I would be the one that petitioned the court. And if there, if that's becoming commonplace, get ready because you're going to see that you'll see savvy creditors actually opened probate. Wow crazy. If someone owed you 25 grand, you would petition, but yeah, in most Jonathon, Texas is most states are that four month window. So from the time you petition for probate, you have to publish notice in a local newspaper for at least 21 days. And that remains open for four months. Then the court will actually say. This is a final list of liabilities list of assets let's proceed. And some states like California, that's a much bigger window and that's why California tends to drag on longer. Because most people do have some liabilities and that 12 month window leaves it open longer. So if we have one minute, I can read the entire statute. It's not a long statute. He's actually from Florida. From the Senate, so 7 30, 3, 7, 10 limitations on claims against the state. Let me make it bigger. Cause I'm getting older now we're standing any other provisions of the code two years after the death of a person, neither did the seat in state, the personal representative, if any, nor the beneficiary shall be liable for any claim of, cause of action against the deceased. Whether or not letters of administration have be issued except this provided in this section, the section shall not apply to a creditor who has filed a claim pursuant to 7 33, 7 0 2, which will be another one within two years after the person's death. And whose claim has not been paid or otherwise disposed of pursuant another statute, this section shall not affect a lien of any duly recorded mortgage or security. Or the lien of any person in possession of personal property or the right to foreclose, any enforced the mortgage or lien. So again, it just seems like there's a loophole. Yeah. If the creditor says is not aware that a death occurred and they don't, and they don't fall probate there's no obligation. I don't hear in there. I don't hear an obligation to publish. So it's what the attorney is doing. Seems like it would, it would work, but again, savvy creditors. For example, you guys, my father just passed away. Wells Fargo didn't even wait for my mother to make contact. They just went ahead and shut down all of his accounts that he had opened those accounts when he was away working. And it wasn't a joint account. So they are obviously subscribed to the social security death database. So, they float, they throw the red flag as early as possible and take action. What you'll probably find is that it's the smaller creditors that are getting screwed in that. Right, right. I appreciate it, everybody's time. Yeah. Thanks for the update, Dan. Good job. Doing your homework. That was good. I really enjoyed that. That was helpful. My question is. It's pretty general I've been looking for, or just exploring different coaches specifically in the probate space. And I'm curious if you're still, I know you had mentioned that you take on private clients. You're selective. I know you mentioned that as well, but I wanted to know if that's something you're considering doing again this year or at any time in the. We had a huge demand for it, but for me personally, in West Virginia, my father passed and trying to stay close to my mother as she settles into a new reality. Right. So. I grew up in the only radio quiet zone, left in the world near the world's largest, fully steerable telescope radio telescope. So we don't have internet, we don't have cell phones in most places. The reason I'm hesitant to coach is I'm back and forth between. My business life and my farm life back and forth. So I don't feel like it's fair to people who might need me to help put a deal together. Someone that needs an hour of my time and I'm on the farm for two days and don't come back into cell service. So I just don't feel like I can show up at the level. I want to, for a thousand bucks. I have not been taking on new coaching students. However, some of the CPEs that are on these calls frequently that are doing seven, eight, seven figures at least are excellent coaches. And I need to build a system because we have had a considerable amount of interest and both group coaching, as well as a one-on-one coach. So I don't have anything built right now, but I, I would, we may have in this year, it's becoming obvious that a lot of folks have a desire for coaching and I just need to get out of my own way. Stan. Uh, What do you mean by us being clear on our USP? What's the most efficient way to build a team? You recommend tapping your network of attorney. Yeah. So the getting clear on your probate USP, that was the beginning of session three, where we talk about who you are, how you got their information, what you want and what can you offer? Right. Hey, this is Chad. I've got a team of people here locally that help families going through. And as part of that, we visit the county clerk once a month and we actually got your information from her. So I had a few minutes today. I just wanted to reach out, let you know what it is we can do and just understand your situation, see how we might be able to help. What's been my, if you could delegate one thing right now, what would that be? So I disclosed. Briefly, I didn't go into my whole corporate introduction and tell them exactly what my business entity was. Cause I don't know until I see what service I'm going to use. But they now know, at least my name is Chad. They know I got their information from the county clerk. They know that, I know that they're in a probate situation. And I'm asking them open-ended emotional questions to end, because I don't want a closed ended. I don't want to give them the opportunity to say yes, no, I don't need help. Blah, blah, blah. So you know of that's I want to say there are a lot of things we can do to help. It starts with us understanding your situation. What's one thing you would delegate if you could today. And they almost can't help but respond to that. So that's what I mean, by being clear and thorough in your USP. Your second question, what's the most efficient way to build a team of vendors one of the time, like it's not something that you can really do in bulk it's, I tell folks I'm like pull up an empty spreadsheet column a as what problems could they have column B as what solutions could I have and then go build your. Go find all a solution. Go find a who for every cell in column B. And it might take you five years to fully complete that. You know what I mean? We're all still building. I'm betting bill gross. Didn't go out and put a California federal firearms license dealer on his list in the beginning. But when the need arose, he went and did. And he just used them on this last deal, on his first deal of the year. So you'll never stop building your vendor list. Start with the more common one you're going to use an estate sale company, a contractor, a locksmith, a clean-out crew housekeepers. Social workers think about what situations most of these homes will have personal property. Some of them will have hold over tenants that have never had a job and never will, and they want to live there, but the rest of the family wants to sell it. That's where a social order comes in. So just think about what are the scenarios that I'm likely to encounter and what solutions do I have for each of those scenarios? Your last question was how do I handle the question? How do you get paid? I'm currently wholesaling and won't be taking my pre-life. Well, good for you getting your license in March. How do you get paid? The best response to that is I'm not real sure. Until I really understand how we're going to help you. But one thing I can promise you is that we won't be paid a dime until we've delivered on everything we've promised. So is that you feel comfortable moving forward knowing that, and then just move on because until you actually know who you're bringing to the table, you don't know who's getting paid or what, sometimes as an investor, You might realize you're not going to get that deal to fit the price, the for a price that fits your strategy of fix and flip, but you have solid rapport. So you move them toward a brokerage conversation. And at that point, that you say, well, listen, we take out 3%. Our brokerage division takes 3% commission and they offer a 3% cooperating broker. So it's 3%. That sound fair to you. Okay, great. And on the other example, it's, you're not, you don't have to, they're not, you're not getting paid. If you're the investor, if you're acquiring the asset, it's you know what, listen, I'm actually going to pay your fees instead of you paying mine. Would that be, that'd be okay with you guys. So I'll pick up the closing cost. I'll pay your side of the prorated taxes, everything else. And so instead of me charging you a fee, I'll actually pay your fees. Does that sound. Perfect, but try to defer it early in the conversation because you really can't give them a valid answer until you know exactly what you're going to be doing for them. Well, no, it was really good. Thanks so much. Yeah. Thanks Dan. Frank says I don't have a mic. If I send a letter, if I send a letter first, what would be the script to use when calling up? If you go back to session three, you'll see me jump on my soap box and talk about why hate scripts, because I want a Ziegler quote. I think I have in there, timid salespeople have skinny kids. I don't think I'm doing you any service to give you a script because it's. Like I can get you off script in a matter of one, one obscure answer. There's just so many different possibilities with these estates there. That's impossible to script. Well, so that's why we teach the conversation framework of the probate USP, and then asking progressively more personal questions to gather information. As soon as you know, there's real estate, you know, that probate has been filed and you know, that there's a, an intention to sell the real estate or to do something with it, set the appointment, then start talking about the real estate. So I would just encourage you to go back through session three. There is a script that that I did upload into the end of the course. Because it's only good for a few seconds. And in a typical situation, it's so easy to get off script and these, and then you got marble mouth. You're like, so it's better to just really think through, you know, what what could these people be going through and what is my answer for that? You know, what's my solution for that. Marlene says checkout Starlink. So that was my whole plan. And coming back here, Marlene and I was on the very first beta list with Starlink and they were supposed to have it to me in March and then in August. And then in October now they kicked me to 2023. So I'm actually working on becoming a fiber optic ISP. We're going to raise capital and putting our own damn internet. So I don't know if Ilan I'm going to get it done before Ilan gets it. Oh, just try it out. I don't know how they, we, you know, we've paid them ahead of time, so they just responded to us after so many, I think over a year and finally got it. I was quite surprised and it's so amazingly great. Like I said, because I'm in such a rural area. There's no the only thing that we have here is ATNT and this speed is one. 50 that's the fastest and no other service provider because we're too far from the road. And literally in the middle of the woods spend so much money for the fiber optic will cost so much because the regional is analog, which is spayed like 20 years ago. And now, so Starlink is now here. So we got it. I just got it. July last year. I'm in Ohio. Really? Yeah. They sent one dish here back in, I think it was June one guy right on the county, just north of me and Randolph county. Literally a hundred yards across the county line. They get, they, they gave him his it might've been in may or June, but for Pocahontas county, the county I'm in, they actually kicked us the 23. And everybody, I know we've got the same, so unfortunately we're going to have to wait, but by that time, I'll have raised some capital and put in fiber line and a hundred Meg fiber. So we just have to we're working through getting it's getting infrastructure grants, and actually building it. Good luck, but I'm glad you got your star link. That's awesome. And I'm glad it's working out for you. I was pretty excited now. I'm pretty jaded. But for now, I'm still in the camper running off the cell tower, all right guys, I think we got a clear queue, right at the top of the hour, I'm going to jump. Thank you guys, always for being here. Great turnout this year. I've got some good momentum for the beginning of the year, so thanks for all the engagement, all the questions. Thanks a lot, guys. Have a good day.