Conner Marketing August 2018

Conner Marketing August 2018

NOTES with Jay Conner Success

AUGUST 2018

How to Use Probate to Source Real Estate Deals

A t my recent mastermind meeting I held earlier this summer, we identified over 100 different ways we find deals! Not that you have to use all 100 ways, but it’s good to keep in mind that foreclosures, though they do account for 25 percent of our deals, aren’t the only thing real estate investors should keep their eye on. In fact, a good 15 percent of deals I do in my business are through the probate process. Just so we’re all on the same page: When the owner or part-owner of a property has passed away, the property goes into an estate or probate process. This gives companies and individuals time to place any claims to money the estate may owe them. It’s during this process that we as real estate entrepreneurs are able to market to the heirs of the estate to possibly provide a solution if the executor or new owner of the estate wants to sell the property. When it comes to probate deals, I had to learn a lot of things the hard way. This month, I’m going to show you how to avoid the mistakes I made in the past and start getting probate deals yourself. The Big Secret About Probate Lists Years ago, when we started marketing to people in the probate process, I used to go down to the courthouse and look up records myself. This is what I call the “hard way.” Over time, I learned how to streamline the process and now I get my probate list from a very valuable website. This website is one of my big secrets. I usually only share it with the students who attend my live events. But to help you get started working with probate deals today, I’m going to encourage you to visit UsLeadList.com . Once a quarter, this website generates a list of estates that have gone into probate in your area. Though they won’t tell you how recent the names are or when the person on the list passed away, you can use this list to reach out to people in the probate process who may be looking to sell the estate. This subscription is not that expensive; I pay around $250 a year for lists I get every 90 days. The Right Way to Reach Out to Someone in Probate How you contact the names on your list is very important. I use a letter I crafted myself. It’s personalized, right down to the envelope. The envelope is hand-addressed with a live stamp. Inside of the envelope, the tone of the letter is really soft, but I lay it all out for them. I’m upfront with how I got

their information, I express sympathy for their loss, and I acknowledge they may not be interested in selling the property right now, if ever. But if they are thinking about selling, I let them know I’m here to help.

I include the benefits of doing business with me — for example, not having to deal with a bunch of people from the real estate community dig through their relative’s home. If they want to close quickly, the letter lets them know we can close in as little as seven days and that we can make an offer on the property with no loan contingencies, no inspections, and no appraisals. And I make a point to mention that I buy properties in any condition. If you know anything about my foreclosure system, you know I use sequential letters when trying to close foreclosure deals. I do not do that with probate deals. Probate letters are soft. I don’t want to be hitting these people over the head. But the thing is, I don’t have to send multiple letters in a probate deal. What I’ve found with these people, the executor or heirs of the estate, is that they will hang onto the letter. Some people will call me right away, but there are others I won’t hear from until a year later. Now this is really important: If you are working in a small area, do not automate the letters going out to the people on the list you get from UsLeadList.com before you get a chance to review the recent list. You don’t want people you know closely getting the letter right after you saw them at their loved one’s funeral. Never Mail a Yellow Letter If you don’t know, a yellow letter is just that: a yellow letter with a message that basically says, “I want to buy your house!” in what looks like a handwritten font. A yellow letter may work well for most other leads, but for a probate deal, oh my lands, don’t even think about it. Yes, this is another thing I learned the hard way. I made the mistake of sending yellow letters to the names on my probate list, and it was horrible! Once, I got a voicemail from a young lady who Continued on page 3 ...

How to Get Lots of Money for Real Estate Fast & Easy! • Call Now! (252) 808-2927 • 1

Published by The Newsletter Pro • www.TheNewsletterPro.com

When Life Gives You Lemons ... 4 Business Lessons From Young Entrepreneurs

You never have a second chance at a first impression. We all have that job interview, presentation, or conversation we dropped the ball on because, rather than going in with confidence, we felt like an imposter in our own skin. When anxiety causes you to dread life’s biggest challenges, it’s time to re-evaluate your approach. “Presence: Bringing Your Boldest Self to Your Biggest Challenges” offers a way to do just that. Amy Cuddy’s TED Talk, “Your Body Language May Shape Who You Are,” has over 47 million views and is the second-most-viewed TED Talk in history. If you haven’t watched the Talk, you’ve likely heard about the subject: power poses. Cuddy conducted a study at Harvard University and found that by maintaining a high-power pose — expansive posture — people feel more powerful, experience increased testosterone and decreased cortisol, and tend to perform better in high-stress situations. “Presence” expands on the research Cuddy presented in her famous TED Talk. Standing like Wonder Woman for two minutes to feel more confident is just the start of the conversation. Is it possible to turn stage fright or anxiety into genuine excitement? Can you learn how to imitate a more successful version of yourself until that imitation becomes reality? Do our precious smartphones sabotage out ability to relay confidence? According to Cuddy’s research and the many true stories from other individuals presented in this book, the answer to all of these questions is yes. Lemonade stands are rumored to have originated with New York journalist Edward Bok, who, as a kid growing up in Brooklyn, sold ice water on hot summer days to thirsty passersby. When other water salespeople tried to move in on Bok’s profit, he got creative by adding lemon juice and eventually sugar to the mix. The result of this innovation? Sales soared. Lemonade stands continue to be a popular summer pastime for burgeoning entrepreneurs, and there are a few things we can learn from these humble business endeavors. Be adaptable. Warren Buffet has had business on the brain since birth. During his childhood, when he noticed that a friend’s house got more foot traffic than his did, the future tycoon moved his lemonade stand to the prime real estate. Buffett obviously benefited from this innovation; the jury is still out on his friend. Go above and beyond for your customers. When Ann Handley’s daughter and her friend opened up a lemonade stand, they found a way to connect with their demographic. The location of the stand was frequented by many French-speaking Canadian customers, and since the friend was born in Montreal and spoke French, the girls

greeted each customer in English and French. More conversation makes more sales. Ask for referrals. Megan, kid entrepreneur and owner of “Dr. Megan’s Mad Mango Lemonade” in Louisiana, knows a thing or two about the value of word- of-mouth marketing. Megan makes sure customers have an easy time spreading the word about the refreshing lemonade. In her second summer running the stand, Megan says, “I advertised through Facebook and word of mouth. I created my own business page. I shared it with friends, family, and the community. ArkLaTex Horse Rescue advertised my stand, and I posted advertisements to many local Facebook groups as well.” Build your business around your values. Have you heard of anyone starting a million-dollar lemonade stand? There’s one person who has, and her name is Alex. She was diagnosed with cancer as a young girl, and her determined spirit motivated her to fight back. She started a lemonade stand to raise money for other kids with cancer. The message of the stand with a purpose spread, and Alex raised $2,000 in a single day. Sadly, Alex passed away when she was 8, but her legacy continues to thrive through her family, who turned Alex’s Lemonade Stand into a foundation. It’s raised over $127 million for cancer research.

‘Presence’

Bringing Your Boldest Self to Your Biggest Challenges

You cannot classify “Presence” as merely a self-help book, a psychology study, or a collection of personal stories, because Cuddy succeeds in blending all these facets into one. “Presence” offers a science-backed take on life and boldness that you can start trying today. Learn how to command respect, speak with poise, become genuinely likable, and develop a sense of confidence that leads to greater success. It all starts when you stop worrying about the impression you make on others and learn how to make a good impression on yourself.

2 • www.JayConner.com • PO Box 1276, Morehead City, NC 28557

happened to be a distant relative of mine. She was so angry and upset, and I was so embarrassed that I sent her an actual handwritten letter to apologize. Save yourself the trouble and don’t bring yellow letters anywhere near your probate deal. Don’t Automate Your Responses Here’s yet another lesson I had to learn the hard way. When you put your contact information in the letter you're sending to the names on your probate list, do not include a number that sends them to a 24-hour hotline or an answering service. Much like with yellow letters, while answering services work in other deals, they are bad news in the probate process. If a person has lost a loved one, especially an elderly person whose spouse recently passed away, they don’t want to talk to an answering service; they want to talk to you! The probate letter is the only piece of marketing I have going out that has people calling me on my personal cell phone number. Ask the Magic Question When I get calls from the probate letter, I start the call by saying, “First, before we discuss your desires and the situation regarding your property, I want to express my condolences. I’m sorry for your loss.” Remember, it’s not what you say, it’s how you say it. You cannot come off like a salesman. You need to be sincere and genuinely sorry for their loss. Be sure to pause and give the other person time to respond. Then, after you’ve talked about that for a moment, I ask the magic question: “Tell me about your situation.” ... Cover article continued

This is an open-ended question, and that’s a good thing. They will immediately go to their hotspot and talk about what is most important to them. If they start talking about the property and the house, mentioning repairs, you know immediately that they’re worried they’ll have problems selling the house or listing it with a Realtor. They may also start to talk about the person who passed away, and you should engage in that conversation a little longer. “Tell me about your situation,” is such a good question because it gets to the heart of what this person wants and lets them feel like they are leading the conversation — though we know the person who asks the questions is really leading the conversation. After they answer the question, I’ll get into talking about the property. Keep in mind, discussing howmuch they want to sell it for comes last. Engage in the conversation in a warm and welcoming way so they want to talk to you. Probate in Action Dealing with probate can be challenging, but when you pull it off, it’s worth the effort. Take a recent probate deal I had. After I sent the letters out to the names on the list from last quarter, I received a call from a woman's son-in-law. Turns out, he’s a well-known Realtor in the area and a broker in charge of an independent firm, but the family didn’t want to list the property in the multiple listing service. Instead, they wanted to work with a real estate investor and just be done. When the son-in-law called, we had a conversation like what I outlined above and set an appointment to check out the house. Right away, I could see why they didn’t want to bother with the MLS. Though the house sat right on a golf course, it was built in the 1980s and needed a lot of updating. When I left, I did my research and came back with an offer. I bought the house for $140,000 and ended up putting $30,000 into the rehab process. When we were ready to list it for sale, it went on the market for $300,000. In the end there were four winners: • The heirs who got what they wanted and were able to close the deal quickly. • The next family who will move into that house. • The private lenders who funded the deal got a nice rate of return, safe and secure. • And I win, because I orchestrated a successful deal. Much like foreclosure, probate is a tricky topic. When you do these kinds of deals, it’s important you come from a servant’s heart. You need to come from a place of wanting to help people. People can tell when you are just trying to buy their house and get a good deal for yourself. When you’re in the mindset of wanting to help people move forward in their life and have a win-win-win-win situation, that’s when these deals happen.

John 3:16 For God so loved the world, that He gave His only begotten Son, that whoever believes in Him shall not perish, but have eternal life. Titus 3:7 So that being justified by His grace we would be made heirs according to the hope of eternal life. John 11:25 Jesus said to her, “I am the resurrection and the life; he who believes inMe will live even if he dies… Have You Heard the Good News ... As It Relates to “Life Everlasting”?

–Jay Conner

Call Now! (252) 808-2927 • 3

PRST STD US POSTAGE PAID BOISE, ID PERMIT 411

Call Now! (252) 808-2927 www.JayConner.com

PO Box 1276 Morehead City, NC 28557

RETURN SERVICE REQUESTED

INSIDE THIS ISSUE

Stop Doing Probate the Hard Way page 1 What You Can Learn From the Most Successful Lemonade Stands page 2 Power Pose Your Way to a Better First Impression page 2 Don't Miss Jay's Live Event page 4

Register Now at JaysLiveEvent.com or call (252) 808-2927 - Meet Jay’s private lenders - Get private money - FREE Rehab Bus Tour (see Jay’s rehabbed homes!) - Meet Jay’s “Dream Team” (his interior

designer, contractors, Realtors, real estate attorney, and buying and selling assistants) - VIP reception - Learn Jay’s automation techniques Event Dates: July 30, 31, Aug. 1 Register NOW! REGISTER NOW! JaysLiveEvent.com JAY CONNER America's Leading Private Money Authority

4 • www.JayConner.com • PO Box 1276, Morehead City, NC 28557

Published by The Newsletter Pro • www.TheNewsletterPro.com