Talking To A Probate Seller | Probate Leads Live Call

hello hi this is hi this is pace from network how you doing i'm good how are you i'm awesome hey he told me about you guys have a pending foreclosure and i wanted to call as quickly as possible to help out with the timeline yes yes we do you want to catch me up to speed and i can tell you what i could potentially do for you guys sure so in january the beginning of january grandpa passed away and we came down and picked up um my husband's uncle got a lawyer down in arizona and in wisconsin to start the probate process for him and we were told that we needed to wait till we had guardianship which is what we worked on getting and we ended up getting that in the end of february um in the meantime nothing was being paid for because none grandpa and grandma always paid with checks versus automatic pay right so and we couldn't afford to make four house payments so right because they have two pieces of property up here in wisconsin and one down in arizona so we were hoping that the process would have gone a lot faster but his mom which is sister the underbed on the other beneficiary has been no help on getting this process sped up if anything it's been a hinder because she has to sign waivers every time and she refuses to sign him um not even refuses she just blatantly ignores any phone calls and emails and stuff or even us going there she ignores the door not us knocking on the door so that's made the process a lot longer so now we're stuck we finally got guardianship we could start the probate process but now we have to do the formal one because she won't sign the waiver is there is there a reason just out of curiosity that she's not signing it to be honest we really don't know um she doesn't even know what it is it's we can't even get a hold of her to tell her what it is so she doesn't even know what we're trying to get her to sign it's so interesting in these situations like how challenging some people can be and there's there's no gain for them to be challenging you know that's what i that's what i said i said i wish you would just answer one phone call just one right well we can explain to her this is if you want your money you you know if you want your money and things you need to help us here and she and you know it's costing you more if you don't sign these papers and you know it things like that and she just she we even had other family members try to call her and she doesn't answer their phone calls either wow but she has been estranged from grandma grandpa for over for about 20 years and just started talking to them again about two years before they passed away i see okay so i mean it's it's it's common i guess i don't know is it common but it's she's known for not talking to people for a long period so the house on um i can help out with a couple of different things and if you don't mind let me reintroduce myself my name is pace p-a-c-e and i'm a real estate investor i'm a builder i deal with primarily i deal with probate related situations like this where you know there might be money in the bank account for you guys to pay the payments but there is no access to the money so now you've got foreclosure fees racking up and you've got timelines that are stressful and all that kind of stuff so my company works with probate attorneys like come in and provide unique solutions that other investors just don't even know about or don't have the resources to solve so what i do in situations like this is i catch up the payments i make the monthly payments and then um figure out what to do with the property so i'm looking at the house right now the one in i and i can do both arizona um or wisconsin or both of them like i said okay um the one in arizona was saying he wasn't sure if there was enough equity or what are you guys feeling on on that situation um i'm not sure what you mean by enough equity but well like if you sell let's say you sell a house for a hundred grand just for math purposes you know you hire a realtor they you know charge their commissions there's closing costs there's potential repairs maybe a clean out all that kind of stuff so if you sell a house for 100 grand obviously you don't get 100 grand in your pocket you might end up getting like 91 grand or something like that right so so if you have all those fees after you sell a property i'm not sure where their mortgage is versus what you guys are planning on selling it for and if there's enough money in that world for you to walk away with a with cash so one of the unique situations that i bring to the table is that we don't have realtor commissions and any of that kind of stuff okay a lot of times we just take over the payments and we give you a cash we give you a cash out chunk so kind of an interesting things most people have never heard of it but i've never heard of it yeah honestly most people have it so basically what it is is there's a there's an existing mortgage in place obviously because there's a foreclosure right right so what we do is we go hey you know what we'll just make those payments indefinitely until it's all the way paid off and instead of you having to go on the market and pay all these realtor fees and clean outs and all that kind of stuff i'll pay you guys for me to be able to take over the mortgage fine uh because i'll turn it into a rental or i'll turn it into something that i'll make money long term usually we don't get paid we don't make our money until like year seven but that's what we do we just do long term um our our investments are just all long term okay okay i was just curious of course no i'm happy like sometimes people ask me literally two three hours worth of questions about this one topic so whatever questions you have you let me know um i don't any right now yet you might and don't feel shy or anything just ask me any question you have so um i want to pull the property up it's the house on correct okay cool and the last statement that we got from the bank said they owed 103 000 left on the house got it okay cool oh there's that there's equity in this house yeah there is oh yeah i don't know why but okay got it um i thought he said that it was 165 000 like not or something he looked up something and it said it was worth 160 thousand dollars 165. and they bought it in 30 so yeah they bought it for 130 six years ago so it's appreciated a little bit which is great um so there is there is equity which is awesome so if there is equity here's what i do i can pay more money typically when i take over a mortgage and here's i'll kind of explain the difference between these two so you either a as an investor you buy the house you renovate it and you make it look you know 2 000 era new right right um if they bought it six or seven years ago it probably doesn't need a lot it probably just needs like a cosmetic maybe ten to twenty thousand dollars something like that probably in pretty good shape at least in my eyes it's a good shape yeah so probably not a huge thing so basically i would look at it and go okay what could i sell it for on the market and then i would take out you know what's the cost to catch up the foreclosure what's the cost to pay for the mortgage payments along the way what's the cost for the renovation blah blah blah blah and then i would give you guys an offer and essentially buy it with cash which we do that all the time but when somebody says hey we don't know if there's any equity like we have a we had a seller a couple weeks ago that was like my parents bought this house literally 20 years ago they did a cash out refi and they got all their equity out in a big chunk of cash they went out they were vacationing and living life to its fullest and there was no money to make the mortgage payments when they passed away and now the house doesn't have any equity and so they were planning on just letting the house go to foreclosure and i said no no no don't let it go to foreclosure i'll come in take over the mortgage and i'll at least give you like five thousand dollars like you're kidding me you'd give us five grand to take over a house that has no equity i'm like absolutely because think about it if i have to go down to my local bank and i go get a loan typically they're going to ask me for 20 down for an investment loan and my interest rate typically is going to be higher than if i just take over somebody else's loan at three percent or four percent so for me i really don't care about the equity situation what i care about is can i turn this into a rental and get a return on my investment on year seven so to speak right but that's not that's not your situation on the house in apache junction which is great okay um the the situation with the house in apache junction you guys would just get cash and i would pay off the mortgage because there is equity and we would just walk away right yeah you just walk away 100 the property in wisconsin i don't know if i have that address i have two addresses one we want we would like to keep and us to live in when this is all done and over with because it's a bigger house okay and one um is in fond du lac i have both addresses if you want so the house that you guys want to live in um are you guys going to buy it or are you just going to take over the payments we don't know yet we don't know our options yet so i'd be happy to walk you through that like for free just to show you how to take over payments of somebody who's deceased in my head let me let me tell you what the scenario in my head is okay yeah this is all i would do is talk real estate i love this stuff so we [Music] we think we're not 100 that the house in fox lake is 100 is worth 150 000 give or take they have 58 000 left on the house nice what we want to do is buy the house out from the sister and then use some of the money that he gets to pay off the rest of the house so there's no more mortgage payments got it i don't know if that's possible but that's what i wanted to do so the best option to do that way there's no mortgage payments so house number one is arizona house number two is the one that you don't want to keep and house number three is the one you want to keep so the house house number three the one you wanna keep has a mortgage of fifty eight thousand dollars we think there's a land contract with the current renters on it oh got it okay so that means that if there is a land contract on it then it's actually sold the tenants are actually the real owners of the property i'm not sure if that's how it's written i have the contract oh can i'd love to look at it yeah i can i don't know how to aim unless you want me to take pictures with my phone you'll have to wait till monday are you are you an iphone user no i'm an android user yeah the challenge yeah i don't know why android does this but it's so hard to send photos but if you can that'd be great if not i'd wait till monday no big deal okay so from what i've read and i'm not the smartest cookie when it comes to legal jargon they have until august of this year to give grandma grandpa 150 000 or anything anything up to the point of august is lost for them okay so it's a that's amazing so they basically it's a land contract with a balloon so it means that they have a balloon that is going to pop in august and if they don't pay off that balloon which is 150 000 then the contract falls apart and they have to get out of the house that's what we were thinking so i was hoping that i know this is kind of mean and knock on wooden sorry god it's business maybe there's a loophole in there somewhere um possibly but i mean the reality is they're gonna have to go get a loan for the hundred and fifty thousand dollars i doubt a tenant's gonna be able to just have 150 000 in cash well and i think in our favor they tried to buy the house back in 2015 or 2016 and they didn't have the credit to buy it yeah and then is that when he signed the land contract with them correct got it so they hopefully this is so i do a lot of land contracts and the reason i do them is the same reason right i have a tenant that comes or have somebody comes to buy the house and i can sell the house for a lot more money on a land contract than i can just a traditional sale because obviously i'm selling it to somebody who's going to fix their credit and i'm giving them a five year time frame to do that so they're willing to pay more money for the house so here's what happens no joke it's probably 98 of people that buy on the land contract from us never go and fix their credit in fact their credit gets worse over that five year period and they forget how fast life goes and they wake up one day and they go holy moly my land contract is due in four days right that's literally how most of our people are so we never you know again it's business so i'm not sending them an email every three three weeks and saying hey just so you know your land contract deadline's coming up it basically comes up and like two weeks before the land contracts do we go hey we haven't heard anything from you what's going on and they go oh my gosh can we get an extension that's literally 98 of people we sell land contracts to that's what we were banking on yeah um so i'd love to see the land contract i'd love to read through it and just kind of give you my professional experience on it and and advice um i can take pictures of it or you can't yeah take pictures i'd love to see it and then um you can text it to me or email it to me i um i sent you an email a little bit earlier today you got copied on it at least yep so you're hoping to sell house number two the house you don't want in wisconsin you take the proceeds from that and then pay off the 58 000 that is remaining on the ones the one that uh you want to keep well there's money in banks too so there's gonna be money involved too love it okay cool so and that's what i'm hoping to do i don't want to have to take over a mortgage if we don't have to because we already have a home here and found like our own home that we own um and that's why we're in the kind of predicament we're in because i can't afford four houses so so that hold on i was trying to pull a contract here it is option to purchase real estate yeah so it's it's not a land contract it's a lease option oh is that what it is yeah so there they have a it's a lease so they're just renting and they have an option to buy at the 150 price so a land contract is a lot more serious i we actually i didn't i didn't try to correct you when you said land contract i was like this sounds like a lot a lease option well it just sounds so thank you for um correcting me um it just sounded like a land country because it's like notarized and oh yeah signatures and yeah so lease option which is good you know most mean what's the difference difference is a land contract means you've already sold the house so this one means they haven't sold the house they're giving it them they're giving them an option to buy it at the price of 150 which is way way less serious so if the tenant was going to buy it by august i wouldn't disrupt the tenant i wouldn't let them i wouldn't remind them i wouldn't say anything to them because the likelihood of a tenant actually being ready to buy the property and going out and getting a loan so here's a land contract a land contract means that the tenant doesn't have to go out and get any financing because the seller is giving the financing to them and so the the seller is qualifying them and saying hey i'm just going to pass my financing over to you and this is my land contract you are now the owner of the property that's a land contract a lease option means you're you have two different contracts okay you have a contract um one contract is the lease and the second contract is an option to buy it at a specific price so that's the option you're talking about is that option to purchase real estate [Music] yeah so it's a way that i mean really it's really good i would much rather have a tenant with an option contract rather than a land contract contract sweet yeah because there's nervousness is like resident residential rental agreements yep so to like i said two different contracts you've got a residential rental agreement and then an option to buy their two separate contracts that's good news for you the likelihood of them taking so here's the other difference between a land contract and a lease option is that land contracts typically the buyer of a land contract is bringing a much more significant down payment to the table and they're way less likely to fall out of that contract but an option buyer or an option tenant which is what you have they usually don't really bring any money to the table and so they're they usually just walk away from it and go rent something else okay and by the way if they were serious about buying the property here we are what do we got oh we got they have some time right they've got some time they've got about six months so usually um you'll hear from your lease option tenants here's the here's the other thing the closer it gets to my deadline on my lease options so i do five-year lease options as my exit strategy and my five year lease options that means my tenant has five years to buy the property from me and that means they have five years um to go and secure funding at bank of america or quicken loans or whatever most of my option tenants that actually execute the option contract they do it on year two or three so if you're on like year four or you're on year five and you're going down all the way to down to the wire and you're like six months away we almost in our minds we almost guarantee that that is not going to get executed because if they were going to buy the property would have bought they don't wait until the last minute and then just magically pull a rabbit out of their hat does that make sense yes because thank you it makes me feel a lot better about it too so so i'm assuming the contract just still doesn't change though regardless because it's still a contract yeah you can't you're not gonna be able to cancel the contract you're not gonna be able to do anything you kind of have to just wait it out and if i were you i would just simply not bring it up to the tenants whatsoever um you're not obligated to do so but you you just definitely do not want to remind them of their timeline because now you're giving them and look it's a business decision i'm very sorry to say it as well for people that are not business owners and don't own real estate you know all the there's people that would be upset hearing this stuff but they're i have friends of mine that are in the same business and they say we loan to own and what that means is they loan money knowing that at the end of the day they're just going to own the property because the people are going to fail to make the payments so it is part of the business it's the reason why you give people a lease option is typically the person who's renting the property is paying a little bit more money in rent than normal rent rates in the area because they are excited about the option to buy but if they were really excited about the option to buy they would have executed that option probably a year or two years ago if they go against any of the rental agreements on this is that something that's different as well yeah so that's an interesting question so the lease option um a lot of people think it's one contract but like i said it's two separate contracts you've got a lease agreement or a rental agreement which you're holding and then you've got the option agreement those are two separate documents the only way you have the right to execute that option is if you have abided by making your payments on time so we have a gentleman right now on a property here in arizona on mercury he comes in he gives us check this out cassandra this gives us seventy five hundred dollars as an option fee okay it's non-refundable and we give give him a five year option to buy the house okay okay month three he says i'm going to you know follow the cdc guidelines and i'm gonna not pay my rent because i legally have the right to do so and we go brother we advise you do do not do that because it's going to cancel out your option contract the government can't jump into the middle of my option contract and he says you can't do anything to me you can't evict me you can't do anything and blah blah blah blah so sure enough he stops making his payment four months later we get a judge a judge evicts him and now he's lost his whole entire right to that 7 500 and he has no right to buy the house wow yeah so you you can't you not abiding by your rental agreement cancels your option to buy it what about like petty [ __ ] like because i'm sorry i can get pretty petty but like the the place is a disaster right now yeah that unfortunately no i mean you at the end of the day if you brought it to a judge right anything that you bring hypothetically the way i look at it is i go look i can go to a judge and say judge we told this guy not to pay to make stop making these payments it says in our lease agreement but if it's something like uh you know landscape is overgrown you can find them or give them a fee but you can't cancel the option contract over something like that because a judge is going to override that and go dude are you serious you you have to get you know you're being miss penny exactly i can get pretty petty if i need to of course i did email you okay awesome but yeah i mean for me um i i would look at that and just say that's pretty promising that a lease option tenant has not executed the option yet um that'd make me feel great so the other house that you guys have a house number two that you do want to sell um do you guys have an idea of what you want to sell that for okay i'm gonna be honest with you on this one i don't even i don't even buy in wisconsin to be honest so what i would do is i have people that i know in wisconsin so if you told me the price i would this is what i do for houses in wisconsin i'll be honest before you're honest with me so you feel comfortable so what i would you you tell me how a price on the house and i would go to like four or five of my friends that are investors in that area and i'd say hey guys if you pay me a thousand dollars as a finder's fee i'll let you buy this house from this lady at this price so that's all in arizona i'll be the one buying it from you but the one in wisconsin i would interface you with investors and those investors would pay me a thousand dollar fee the one in fond du lac which is house number two that we don't want is a rental got it um they bought it for 55 000 they owe 40 000 on it okay and in my eyes we'll be lucky if we break even 40. okay so i can help you so again let's go back over my two options right i can like the house i'll buy that cash assuming you and i can work out an agreement okay easy i'll be the buyer i'll take that i'll do a fix and flip with it um and then i'll basically put on the market in three or four months actually it'll be a lot longer than that because we've got the pro you have a formal probit you have to go through due to the knucklehead that's not answering the phone calls so i would basically put that on the market probably january sometime next year um and i would do all that stuff okay the house in house number two i would actually take over your renter i would take over the mortgage and i would give you guys some cash she doesn't want to live there anymore she's looking for a new house that's okay i'll find another tenant okay just to let you know it's uh it's actually my husband's sister who's living there grandma grandpa purchased it for her to live in because she was down and out on a house love it so i would basically just take over the mortgage um i would make the payments and i would take oh i would give you guys cash so instead of again so let's think about this if you have a property that they bought for a 55k if she's lived in it so it probably needs you know paint carpet etc for you guys to sell it so one there's cost there two it's behind on mortgages and what there's more mortgage payments that have to be made along the way right so you essentially probably have a chunk of money that needs to come off of whatever you sell it for plus commissions closing costs all that stuff so you're probably right you would be lucky to break even but if you let me take over the mortgage i would give you cash and then i don't have to go through real estate agents and we don't have to go through all that stuff and i would just take over the payments and put a new renter in there even if it's a piece of [ __ ] house i buy i buy houses that are burned down all the way up to the most recent home i bought was a 1.5 million dollar house in downtown atlanta awesome gorgeous house okay so what is the downsides on doing this with you well the people that are like down so the downsides really only come with people who are still alive right so the mortgage isn't not in your name right right so people that are still alive they go well okay that means you're taking over my mortgage but you're not paying it off that means that my name is still on the hook i go yep that's exactly what it means i take the ownership i have the deed but the mortgage stays in the person's name right so we do this hundreds of times a year i do it for a lot of his clients and clients all over the country as well but the clients who are alive go well what about my ability i'll do it because it makes sense um but what about my ability to go buy another house using my credit if the mortgage is still in my name and there's solutions to all that that are really easy but you don't have to worry about that because the person whose name stays on the mortgage is actually passed away right so there is no downside not that i care but i'm just curious again would it would we get more money if we win a different realm the so people ask me all the time why do people sell their house to you and give you like hand their mortgage over and the answer is always i the ability to pay more money always is this route so for example i'll give you a really good example um i live in a house right now okay it's a house i bought a year and a half ago it was a guy that cashed out all his equity didn't have any equity and he needed a little bit of a remodel and ultimately puts it on the market about five and a half months couldn't it wasn't that he couldn't sell the house after five and a half months it's that everybody that came and gave him an offer even at full price his agent would come to and go okay so after you get this offer with my commission you know even though it's a reduced commission the other agent's commission because remember when you're the seller of real estate guess who pays everybody's commissions you the seller all the commissions are paid by the seller so you pay all those commissions you're going to write a check for 20 000 to sell your house and he's like no find a better offer and the agent just kept saying dude are you serious that you out this is full asking price right so five and a half months into the listing agreement because most agents listing agreements are six months i get a call from the agent the agent's name is doug so doug calls me and goes hey man i know you do this stuff where you take over people's payments is there a way you can help my client i go absolutely so they were about to lose the whole contract right the agent was about to get fired in two weeks because their six-month listing agreement was about to be over so i paid the agent 2500 and then i gave the seller five thousand dollars in his pocket and i just took over the payments so the difference for that seller of going on the market and selling at full retail was a difference of twenty five thousand dollars twenty grand he didn't have to write plus five thousand dollars i put in his pocket so if you can sell it on the market for more money in the conditions it's in then you should do that 100 but if you can't um i'm always the person that can pay more money always if the money doesn't go to us anyways but i was just curious as as to why you were the better option so well because i'm again let me just go through that real quick the reason why i'm the best option is because most people that go out and buy you know rental real estate what are they doing they're either a buying houses with cash or b they're going down to a bank and getting a loan with a sizable down payment right so if i'm buying rental real estate and i can take over somebody's existing debt which this has been around for a hundred years if i can take over their existing debt then i don't have to put a big old down payment down and now i can afford to pay the seller some money in their pocket and then i can afford to wait for my return to come on year five year six year seven because i don't have this massive cash outlay that most investors have to to utilize to buy rental real estate okay how are you gonna slow or stop this foreclosure i pay for i'd catch up the foreclosure oh you would pay for it yeah or you even yeah would you own the property already these are great questions so um you technically don't have the right yet to sign a contract with me because you're not the main decision maker according to the probate courts right correct so what i would do is i send you a letter of understanding that at least protects me from a feel-good standpoint where i go hey i'm gonna go and spend money i'm gonna go spend money on catching up the foreclosure i'm gonna go spend money to make sure this house doesn't get lost to the courts while rylis here in arizona and while your attorney up there in wisconsin works on getting the probate done right right during that time frame i have money out on the line and my letter of understanding at least makes me feel confident that once you are appointed you'll come back to me and go hey everything we promised you we're gonna keep our end of the bargain because during this whole time you kept your end of the bargain so then comes into play i don't think it's going to happen but i'm always going to ask what comes into play let's say sister comes out of the woodworks and starts to fight us for a personal representative so i'm around yeah so here's the great great question so you're saying well pace you're going to have you know 20 000 on the line of real hard cash or whatever it ends up being right right am i going to come and sue you no it's a cost of doing business right so why do guys other probate attorneys say go use pace go use pace's company is because i bring unique solutions to the table that other people simply don't and i can in all my years of doing this we've been doing this specifically with probate attorneys for about seven years we've been doing real estate investing for longer but real probate attorneys specifically for about seven years i've only had one time where i lost 20 grand and think about all the times i've done it between then i for me to be the one person that their the attorney will refer their clients to losing 20 grand every couple of years on one deal is completely worth it it's either that or i go spend money on marketing right and i don't spend money on marketing i spend money on just building relationships and making sure that my pro here's my job my job is two things number one actually my i only have one job here's my one job my job is to make my probate attorney impressed on how i take care of the situation and how do i then do that job is make sure you're happy at the end of the day you and i are gonna do one transaction together but my probate attorney and i are gonna do a hundred so me being the guy that came in and go like think about how much of a michael jordan hero i am in his office where he has a client that's in foreclosure and i come along ago i'll stop the foreclosure i'll put my neck on the line i'll help your client out and let's get give you guys plenty of time to go through the probate and i'll be the one on the line and if the whole thing topples down i'm the one standing there with my you know the cash lost and our letter of understanding can even state that i won't sue you or i won't do it and i've never had a client ask me for that but i'm be i'd be happy to do that okay um so then if we decide to do this can we still get into the house to get all this stuff out of course yeah i don't i mean are you guys thinking about coming down to the one in arizona yeah we're gonna be down there next month we already have plane tickets for somebody coming to us and we've already asked off and then also i get this thing oh there might be locks on your door when you get down there yeah i would i'll get my locksmith over there i'll change the locks we'll put a lockbox code on it that you choose and you come down you have free access to the house you don't have to worry about any of that stuff i'll coordinate all that all right and we can stay in the house while we're down there right yeah you could stay is it livable yeah yeah i mean i don't know are the utilities turned off no we're paying for them right now fun yes um yeah it's your house it's not my house it's in my house once i buy it so my job is to serve you you look at me as your boots on the ground in arizona and you can say shoot me a text and say hey pace we're coming into town or hey pace we can't find the key hey i'm your boots on the ground look at me as your employee okay um i'm out of questions right now you'll come up with more so what i would do is this um the you guys are what are you guys trying to sell the one in apache junction for what would be a good number for you guys on that i have no idea we haven't even thought about any of this yet because we thought we had to we haven't thought about anything because we thought we had to wait until he was appointed my husband was appointed pr before we could even start anything so we've done nothing got it okay cool so why don't you do this why don't you and your husband have a conversation fill him fill him in on what you and i talked about if you want to get on another call i'd be happy to do that oh hold on one second i'm i'm going to warn you right now my dogs are going to park because my husband's walking in the door oh no worries so just to let you know you're gonna hear barking okay um so what'd you say have a conversation with my husband and what yeah have a conversation with him come up with you know what you guys what you guys want to accomplish on this if you want to enlist me in you know helping out with all the foreclosure stuff and um i'd i'd be happy to do the wisconsin property and the apache junction property whatever you guys need um i came up with a question great i'm sorry so basically you would we would need to come up with an idea of what we would want for the house and then let you know all right sorry i just muted you so that way the dogs haven't barked a lot for you okay so basically you'd want me and my husband to come up with the price of the house to sell it for to let you know usually um all my cup that's how i treat all my probate clients they just go hey you know what we see that it could probably sell for 160 assuming you've got to come up with you know cleanup job and this that and the other we'd love to get 30 000 in our pocket and i go awesome let's do it i'll do the foreclosure stuff i'll do this i'll do that whatever come up with your dream scenario and if i can't make it happen i'll let you know right but the last thing you want to do is like i kind of look at it like a craigslist thing if you put up a car on craigslist what do you think is going to happen people come in and lowball you right i don't want to lowball you i just want to know where you guys are where you guys are and see if i can come up to that price and if i can i'll say hey love it let me stop by the house let me see what we can do um and um go from there it's a lot easier when you just say it's kind i've actually seen people like i see sellers that go just give me an offer i'm like you imagine if you put your car on craigslist and you said give me an offer like that's that's not a smart way to do something with such a big asset the smart thing to do is just say this is what we want can you make it happen i come in make it happen stop the foreclosure et cetera so i would start there with your husband and then come to me and go we want to do the arizona one with you but we're not sure on wisconsin or hey we want to do both with you can you help us out and then we come up with a game plan the house number two it sounds like in your mind and correct me if i'm wrong it sounds like in your mind you feel like you have another option on that like maybe selling it on the market or fixing and flipping it yourself or something along those lines god no i was just trying to tell you that it's in bad shape oh yeah yeah we take over bad houses all the time we won't be able to get rid of it oh no i mean if you let somebody take over the um existing financing those those are pretty simple to get rid of you know in our eyes we're like we got [ __ ] that needs to be fixed before somebody would probably even want to purchase the thing and that the inside of the house needs to be repainted needs to be cleaned yep that's what we do you know things like that like just it's just in rough shape yeah i mean for for us that's that stuff is like putting on a pair of pants you know that stuff is just part of the job no big deal for us okay so what negatives and you said there was really none i might be re-asking the same questions you feel as though there is no negatives for us for doing this and that's because nothing is in our names because they're deceased well i actually do this with people who are who are alive right so i'll you can even talk to some of my sellers i have a guy the guy that bought my personal house from his name um great guy um he'll tell you the whole like he asked all the questions you're asking and i've owned the house for like a year and a half and it has not done anything but benefit him by having a performing mortgage in his name it allowed him to get another mortgage it allowed him to do everything else that he wanted to do so even people that are alive there's no downfall for it however they have more to worry about because it's still on their credit that's the only downfall to somebody who's alive but somebody who's passed away there is none of those worries and because there is really no other downside to it then you guys have no issue whatsoever okay okay and we go through a title company we do all the paperwork through either a closing attorney or a title company like none of this is just a handshake stuff this is all done legally through you know documents and the county recorder and all that kind of stuff okay so we do this from wisconsin oh yeah yeah so i this is kind of a cool thing too since we do deals all over the place so i don't do fix and flips anywhere i only do fix and flips in arizona and vegas everything else that i buy i buy with existing financing in place so like that 1.5 million home in atlanta that it took over somebody's mortgage so if it's if there's an existing mortgage i can buy anything all over the country no issues whatsoever because i'm a long-term investor i'm not a short-term investor out of the state if that makes sense yes okay so um yeah it's easy so i own a company it's called constantclose.com and constantclose.com is a transaction coordinating business i have a girl named rochelle that runs that business for me and all that means for you is that i have the ability to close transactions in any state 50 all 50 states across the united states no worries if you if you want to compile another list of questions and get on another call with me you and your husband i'd be happy to do it it's probably a good idea because i'm sure he'll come up with questions that i'm not even thinking of love it um okay so let me let me talk with him explain to him what we've gone over and the exciting news that it's not a land contract yeah that's great news um tell him kind of what what you're offering i'm sure he'll probably be okay with it but i'm sure he'll have questions yeah absolutely whatever you guys have take your time i mean i know we have a foreclosure pending but it's not like that's gonna happen tomorrow so even if it's on the weekend or sometime next week just shoot me an email and say hey we're good for a call today you know at this time and i'll make it happen okay yeah it's well you're in arizona so it won't be so bad it's probably 3 p.m about 3 30 your time would be best for us just because that's when he gets home perfect yeah not a problem anytime next week is fine with me okay and well and what did you say your title was again like what do you what what are you so i'm uh i own a lot of businesses we own about 12 different businesses i actually we just got a tv show on a e by the way i just signed a six year contract so yeah we do we just do a lot of real estate business so we get people that notice what we're doing and um so that was kind of cool it's like a fix and flip show just for here in arizona it's going to be called flipping arizona um yeah pretty cool huh are you going to be the star yeah i mean i actually have a buddy that's a competitor of mine here locally and the tv show is him and i pitting uh or him and i arguing over properties and then ultimately teaming up to flip the houses together that's pretty awesome yeah so it's kind of just showing people how to collaborate rather than to compete and fight over stuff that's pretty awesome actually yeah so um i'm just a businessman investor is that what you are yeah i would say i'm a real estate investor i own other businesses as well like we have a cold call center in the in the philippines and we have other types of businesses i own title companies and stuff like that as well but overall most of what i do is just real estate investing okay okay so you guys shoot me an email whenever you're ready to chat yeah let me know what you think about that contract i sent you to okay absolutely and let me discuss it with my husband i'm sure he'll have questions it'll take me a bit to catch him up to speed here but we'll definitely be back in touch okay sounds great thank you no thank you hun all right bye-bye [Music] you

Channel: Pace Morby

Views: 52,492

Keywords: probate leads, probate real estate, pace morby, probate real estate process, probate leads probate real estate leads, real estate leads, probate, probate process, probate court, probate real estate wholesaling, what is probate real estate, probate real estate investing, probate investing, buying probate real estate, wholesaling probate properties, probate property, real estate strategies, real estate investing, real estate, real estate investing strategies, real estate calls

Id: IUPG5i4A2UU

Length: 46min 0sec (2760 seconds)

Published: Mon Apr 19 2021