Qualified Leads – Equity Properties – Motivated Sellers

Infinite Opportunities

Your Formula for Real Estate Success

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TABLE OF CONTENTS

INTRODUCTION ………………………………………………………………….. 2

OVERVIEW …………………………………………………………………...…… 4

A LOOK INSIDE TODAY’S REAL ESTATE MARKET ……………………...… 7

Realtor Productivity

Top 5 Reasons Realtors Aren’t Finding Business

Shrinking Inventories

THE UNLIMITED OPPORTUNITY ………………………………………….…..10

Age and Wealth Distribution in America

The Probate Market

Living Trusts

Leads

Equity

Motivated Sellers

An Infinite Market

ABCs OF PROBATE REAL ESTATE …………………………………………. 25

Documents

Selling the Property

COMPETITIVE ADVANTAGE ………………………………………………..… 30

Certification

Sources of Probate Data

Marketing

Support

RECAP ……………………………………………………………………….…… 37

ABOUT THE MTI PROBATE REALTOR CERTIFICATION ………….…….. 38

CONCLUSION ………………………………………………………………..….. 42 ABOUT THE AUTHOR ………………………………………………..………… 43

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INTRODUCTION

The Reality of the Real Estate Market Today

If you are like most realtors today, business is hard to come by. The market

has been impacted by significant changes over the past several years. The

conditions today are pretty bleak for the average realtor and the outlook for

improvement is dim. Several factors add up to a radical market change and

the lack of current opportunity for sales. Opportunities once considered

plentiful are now few and far between. Strategies once considered effective

are no longer working. Leads are hard to come by. Motivated sellers are hard

to find.

If I told you I could show you how to increase your qualified leads, close deals

fast and put a sizable commission in your pocket, would you be interested?

The Opportunity

The good news is that opportunities are still plentiful, if you know where to

look for them and if you have the information, understanding and resources

you need to capitalize on them. Niche markets such as tax liens, tax deeds

and, especially, probate represent some of the most profitable niche markets

in history.

Before I discovered real estate investing, I was working as a teacher. I bought

my first probate home with a $20,000.00 investment and realized a net profit

of over $130,000.00 profit. That amount represented more than 6 times my

teacher’s salary. After that, I didn’t look back. I learned all I could about

probate real estate and mined that market for all it was worth. Working the

U.S court system, I quickly learned how to identify great opportunities that

included equity and motivated sellers. In a short amount of time, I went from a

teacher living on a modest salary to a millionaire real estate investor. I

accomplished this by the time I reached my early 30’s. I did it by investing in

probate real estate. A big reason I was able to succeed is because the

probate real estate market doesn’t suffer during economic downturns that

depress the traditional real estate market. And, it was amazing to see the lack

of competition. It seemed like no one else realized what a great opportunity

exists in probate real estate.

I’ve been fortunate to have amassed a fortune through probate real estate.

And now, I’ve returned to my roots as a teacher. It’s my turn to give back. I

always have been passionate about teaching and helping others. This book is

one way that I can combine the knowledge and experience I have developed

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through years of successful real estate investing and my interest in sharing

with other investors and agents.

The average real estate professionals’ reactions to probate listings?

Avoidance; they turn their heads and walk away. If you have similar aversion

to probate real estate, you owe it to yourself to read this book to understand

the opportunity you are ignoring. I’ll explain why probate represents a mother

lode of a real estate opportunity that is going largely un-mined right now, and

why it will soon become the largest transfer of wealth in this country’s history.

Better yet, I’ll show you how to navigate the probate court system with ease.

If these words—qualified leads, listings, equity and motivated sellers—have a

nice ring to them, read on. When you finish the book, I’m sure you will agree

with me when I say that probate real estate is an opportunity you can’t afford

to miss.

The Power of Probate Real Estate

An infinite Supply of:

Qualified Leads

Listings

Equity

Motivated Sellers

Now it is your turn to tap into one of the most powerful markets that will never

be affected by any market conditions. It is truly an infinite market!

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OVERVIEW

Here is what I will show you in this eBook, step-by-step.

A Look Inside Today’s Real Estate Market

The Top 5 Reasons Why Realtors are Not Doing Business Today

In this section, I will disclose the results of my research that reveal why 90%

of professional realtors today are not doing any business. They are stuck in a

market that is controlled by economic conditions that are beyond their control.

I will tell you in this section the results of my extensive nationwide research

that led to the discovery of the top 5 reasons why realtors are not doing

business today.

The Unlimited Opportunity

This section is a must read. You will learn about an unprecedented real estate

sales opportunity and how to capitalize on it. I will show you where the money

and opportunities in real estate exist right now and forever. I will show you

how to find a never-ending supply of qualified leads in an equity real estate

market full of motivated sellers. You will learn why the probate real estate

market is so sustainable, and how it represents a lifetime of opportunity that is

unaffected by the whims of real estate cycles and economic instability.

ABCs of Probate Real Estate

In the ABCs of Probate Real Estate section, I’ll show you the straightforward

and easy “How To’s” that will enable you to cash in on this opportunity and

build your fortune, just like I did.

Competitive Advantage

This section describes how you can develop your Unique Selling Proposition.

I’ll describe the ways that you can gain a competitive advantage and excel in

this amazing market opportunity by developing the expert knowledge that will

make you the expert everyone is looking for and give you the tools that will

enable you to find multiple leads and attract sellers directly to you.

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Recap

A Review of System to Overcome The Top 5 Reasons Why Realtors Are Not

Doing Business Today

In the Recap, I compare how my system stacks up to the traditional real

estate market and how it eliminates to challenges and obstacle to realtors

trying to develop their fortunes. As you will see, after reading this book:

My system will help you find an endless number of qualified leads

that will lead you to listings, which will in turn, lead you to sales and

handsome commissions.

Through my system, motivated buyers will find you and you will no

longer have to chase opportunities.

My system will differentiate you from the competition by giving you

a unique selling proposition.

My system will generate a continuous flow of opportunities that will

lead to success.

My system is not subject to the volatile swings of the real estate

market.

About The MTI Probate Realtor Certification

This section provides an overview of the Certified Probate Real Estate

Specialist Program offered at MTI Education, the nation’s leading authority in

probate real estate. You’ll find here an overview of a complete and flexible

approach to certification, led by probate experts and experienced educators,

who provide education and training, tools, support and much more.

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I’ve been fortunate enough to learn, develop specialized skills, work hard and

profit. I’ve built my fortune with a system that works and keeps working. Now,

it is my turn to share. This book gives you the essentials to succeed in today’s

challenging real estate market.

So I invite you to read the book, understand the challenges and solutions

facing real estate professionals and understand the golden opportunity

that awaits you.

While you read this book, I encourage you to take notes and jot down any

questions that arise so that I can personally address them and help to

position you in the best real estate sales opportunity in this country’s

history. You can contact me at anytime by simply going to

www.MTIeducation.com; you’ll get a prompt response to your query.

It won’t take you long to read this book. I’m convinced that once you

complete it, you will be eager to take the action needed to capitalize on

this monumental opportunity.

I hope you enjoy the book as much as I have enjoyed sharing a winning

system that leads to acquiring wealth through real estate in even the

toughest markets.

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A LOOK INSIDE TODAY’S REAL ESTATE MARKET

As an educator in the field of real estate, I am always interested in what is

going on in the market. Recently, I was shocked by the findings of my

investigation into realtor productivity. These findings indicated to me that the

overwhelming majority of realtors are facing major challenges and struggling

to earn a good living in today’s real estate market.

Realtor Productivity

A close look at the actual real estate sales numbers reveals some surprising

facts. As the figure below illustrates, 9% of realtors write 10% of the total real

estate sales. That amounts to an average of three to four home sales

annually. And 1% of realtors write 90% of sales. Wow! I had no idea. So that

means that 90% of realtors in this country are not doing any business!

Realtor Sales

Top 5 Reasons Realtors aren’t Doing Business

The realization of the fact that 90% of realtors aren’t writing any sales led me

to dig more deeply into this phenomenon. As I travelled through the country, I

began probing realtors to determine why they were experiencing such

difficulty. The results of my survey are listed below. They represent the top 5

reasons why realtors in America are not doing business today.

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Top 5 Reasons Realtors Aren’t Doing Business

1.Difficult to locate a listing.

2.Difficult to be located by a seller.

3.No Unique Selling Proposition to differentiate yourself from the crowd.

4.Need continuous flow of listings to succeed.

5.Real Estate Market is Economically Unstable.

Clearly, these issues reflect a big problem. No leads, no listings and no

differentiation? That doesn’t spell success.

Shrinking Inventories

Another challenge realtors face today is low housing inventory. Look at the

figure below to see what is going on with homes available for sales.

Inventories have shrunk to numbers not witnessed since the early 2000s.

Shrinking inventories really make it tough on realtors.

Housing Inventory Trends

Everyone knows that lower inventories means lower listings. And listings are

the goal of any realtor. If you control the listings, you control the money.

That’s every realtor’s dream. But in order to control the listings, one must

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have leads. But not just any lead, qualified leads that connect you to

motivated sellers.

As I contemplated the above responses from all of the realtors I surveyed,

and studied the declining market inventory situation, I asked myself if the

system I use in real estate sales addresses the issues that are challenging

realtors in today’s market. My analysis to this question and of my system led

to one conclusion, a resounding YES! The system I developed over many

years of highly successful real estate sales identifies qualified leads, makes it

easy for sellers to find me, presents a unique selling proposition and

generates a continuous flow of listings that are not dependent upon the

stability of the real estate market.

So that’s what has motivated me to share this fabulous opportunity with you.

You don’t have to struggle in a traditional real estate market that is defined by

a lack of opportunity. When you finish this book, you will understand that

opportunity is knocking, and you will understand how to position yourself in

this niche market and capitalize on this tremendous opportunity.

Take Home Messages

The Real Estate Market has Changed Dramatically

90% Of The Realtors in the Market Today have NO Sales

Inventories are Shrinking

Realtors are Challenged to Find New Opportunities

Yesterday’s Strategies Don’t Work Today

Previously Un-Mined Opportunities Exist for the Informed Realtor

In the next section of the book, I’ll describe the unlimited opportunities that

await you in the probate real estate game.

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THE UNLIMITED OPPORTUNITY

To help you understand the truly unlimited opportunity represented by the

probate real estate market, I’ve outlined in this section the primary reasons

that this niche is so phenomenal and will continue to grow and provide

continual opportunities to professional realtors. You will see for yourself

where the money is, just how huge this market is and why it represents a

treasure chest of leads, listings, equity and motivated sellers.

Age and Wealth Distribution in America

We’ve all heard about the aging of America. Today, the fastest growing

segment of the population is the over-85 group. These folks own homes that

will be left to their heirs any day now.

By the year 2020, America’s senior population will grow to about 115 million.

As I’ll discuss later, the majority of estates held by these 115 million seniors

will be settled in probate court.

Aging of America

Someone turns 50 years of age every six seconds

The over-85 age group is the fasting-growing segment of the

population

By 2020, the senior population will number approximately 115

million

Sources: The Center for Mature Consumer Studies and The Roper

Organization for Modern Maturity Magazine

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Did you know that the senior population in America controls more than 75% of

this country’s wealth? I guarantee you that their net worth isn’t cash sitting in

bank vaults or under mattresses; the lion’s share is held in assets. And the

biggest investments, the most valuable assets in American’s portfolios are

real estate.

Distribution of Wealth in America

“The 55-plus age group controls more than three-fourths of this

country's wealth and the 65-plus group has twice as much per

capita income as the average baby boomer.”

The current senior population possesses over $900 billion in

spending money

Nearly a quarter of householders aged 65 to 69 have a net worth of

$250,000 or more.

Sources: The Center for Mature Consumer Studies and The Roper

Organization for Modern Maturity Magazine

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According to the U.S. Bureau of the Census statistics that appear below,

today’s population of individuals 60 years and older totals about 58 million.

That number will grow to 78 million by the year 2020. This is yet another way

of illustrating the growth in age and wealth in this country.

Take Home Messages

Age and Wealth in America go Hand in Hand

Seniors Control 75% of the Wealth in America

The Opportunity for Realtors is Huge and is Growing

Exponentially

In the next section of the book, I’ll talk about the specifics of the probate

market’s size; how phenomenally huge it is today and projections for

incredible growth.

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The Probate Market

The first U.S. Probate Court was established in 1784 in Massachusetts as a

means of resolving all claims against a deceased person’s estate before then

distributing the deceased person's property to his or her heirs.

Since that time, inheritances that pass through U.S. Probate Courts have

grown to $7 trillion. That’s today’s, 2014 number. As I pointed out above, the

aged population is growing, and so are the amounts of assets in probate. In

fact, according to Estate Settlement.com, the dollar figure of probate assets is

expect to total $15 trillion by 2017; that’s more than double the 2014 value in

just three years from the time that I am writing this book. Now, think about

how people accumulate wealth in this country. They do it through acquiring

real property, real estate. Real estate represents Americans’ number one

most valuable asset.

Facts about Probate

“…Approximately $15 trillion in inheritances will pass through Probate

and Estate Settlement by 2017…”

Source: Estate Settlement .com

Now, to put this $15 trillion in perspective, understand this: 80% of probate

filings include real estate assets. Are you starting to see the picture and

understand the tremendous opportunity in probate real estate?

These data points will shine some additional light on the picture, 70% of

probate real estate is FREE and CLEAR; paid for, no mortgage. Just imagine,

$15 trillion in assets, 80% of probate filings include real estate and 70% of

that real property is free and clear! That’s a ton of equity and it’s all going

through Probate Court.

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Facts about Probate

“ . . . 80 percent of Probate filings include real estate.

“. . . 70 percent of probate real estate is FREE AND CLEAR and 18

percent is commercial real estate...”

Sources: ProbateData .com

Living Trusts

Now, you might start thinking about living trusts, which are vehicles to help

people avoid going through probate. By forming a living trust, which is a legal

document, the estate is settled at an attorney’s office instead of probate court.

But the fact of the matter is that only 5% of estates are held in living trusts

and many of those that are in a living trust are not managed properly.

Another common mistake a lot of people make is that they refinance a

property and, in doing so, the property is officially taken out of the trust. Then,

they forget to place the property back in the trust by filing the necessary paper

work. Happens all the time. As a result, the property settlement comes under

the jurisdiction of the probate court. Like I said before, only 5% of the

population has a living trust. That means that 95% of the population will have

to settle their estate by going through the probate court. The truth is, most

people just don’t prepare.

% of Living Trust and Probate Estate Settlements

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Just to underscore the point, you’d be surprised by some of the well-known

names whose assets were not protected by a trust and had to go through the

probate process. As you can see from the list below, these are wealthy

people. You would expect that they would have received legal and investment

advice, wouldn’t you? Well, for whatever reason, they all had assets that had

to go to probate before the estate could be settled. Recognize anyone?

Singer Whitney Houston

5% Living Trust-----------

95% Estates

in Probate

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Steve Jobs, founder and former CEO of Apple

Disneyland’s Walt Disney

Actor Phillip Seymour Hoffman

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Sony Bono of Sonny and Cher fame.

Famous Banker J.P. Morgan

The point is that even the wealthiest and most brilliant people simply don’t

prepare. When people die without having all of their assets protected by a

living trust, their assets wind up in probate court.

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Take Home Messages

Facts about Probate

“…Approximately $15 trillion in inheritances will pass through

Probate and Estate Settlement by 2017…”

“ . . . 80 percent of Probate filings include real estate.

“. . . 70 percent of probate real estate is FREE AND CLEAR and 18

percent is commercial real estate...”

Next, let’s take a look at the sources of unlimited leads.

Leads

It all starts with the courts. There are three types of estate court filings, all of

which can be a good source of real estate leads because they are all public

records. If you know where to go to find these records, and how to follow up

on the wealth of leads they provide, you will have an infinite supply of

qualified leads at your disposal.

There are three types of court filings: 1) probate; 2) guardianships; and 3)

living trusts. I’ve provided an explanation of each below. Each filing

represents an excellent source for real estate leads because, as I discuss in

more detail later in the “ABCs of Probate Real Estate” section, each will put

you in direct contact with real property characterized by equity and motivated

sellers.

1.Probate

Probate estate settlements are filed in probate court upon an individual’s

death. If the deceased left a will, the settlement still goes to probate. If they

did not leave a will, it goes to probate. Keeping in mind that 95% of all

estates are settled in probate and 80% of those estates in include real

estate, you can see just how enormous the opportunity is. Because probate

filings are public records, anyone has access to them.

2. Guardianship

There are two types of guardianships: minor and adult guardianships. Adult

guardianships, called conservatorships in some states, are in place because

the adults in question no longer have the capacity to care for themselves or

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for their assets. Typically, these adults are senior citizens who suffer from

dementia, Parkinson’s disease or some other debilitating chronic condition.

These individuals are probably receiving 24-hour in-home care or are living

in a nursing home. The costs for such care can be very expensive, easily

totaling $5—$6K per month or more. The heirs need to assure that these

bills are paid if they want their family member to receive continued care. So

what do they do? They look at the estate’s most valuable asset, the home,

and they sell it.

So adult conservatorships filings are great leads. Selling the house solves a

financial situation and the senior’s need for ongoing care.

3. Living Trusts

Living trusts can be a good source of leads, so it’s a good idea for anyone

seeking opportunities from estate settlements to develop a network of

attorneys.

Take Home Messages

Public records that will put you in direct contact with leads to equity

property and motivated sellers:

Probate

Adult Guardianships (Conservatorships)

Living Trusts

In the subsequent sections of the book, I’ll talk about the real estate equity

involved in these transactions, the motivated buyers and how to cash in on

this surging niche real estate opportunity specifics of the probate market’s

size; how phenomenally huge it is today and the projections for incredible

continued growth.

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Equity

The generation responsible for the rising tide of estate settlements that is

kicking in now and will grow to a tidal wave in the near future is the Baby

Boomer generation. If you remember only one thing about the Baby Boomers,

remember this: Baby Boomers are the Wealthiest Living Generation.

Let’s take a closer look at why. The post-WW II baby boom from 1946—1964

witnessed the birth of 78.2 million people. The earliest Baby Boomers, those

born in 1946, turn 68 in 2014. As a generation, Baby Boomers are investors.

Raised by parents who experienced the Great Depression and witnessed the

single largest episode of bank failures in history, Boomers were taught to

diversify their investments and, most importantly, to buy a house. And they

were taught that a house is the safest place to invest one’s money. Real

estate became the path to wealth and security for Boomers. They’d buy a

house, pay for it and buy another house. As their wealth increased, they’d

invest in more property. But because of their distrust of banks and their

penchant for real property investments, Boomers don’t have a lot of cash.

They are house rich and cash poor.

That’s why so many Boomer estates include homes, rental property,

investment property and commercial real estate. As I pointed out earlier,

these seniors control 75% of the wealth in this country, and their portfolios are

rich in real estate assets. Let me remind you of another point I made earlier;

70% of real estate in probate is free and clear.

This is where the real estate equity is. Knowing the ins and outs of probate

real estate deals will lead you to the equity.

Take Home Messages

Baby Boomers are the Wealthiest Living Generation

Estate Settlements Today and into the Future are Estates of 78.2

million Baby Boomers

Boomers Portfolios are Rich in Equity Real Estate

Okay, so now you know about the huge source of equity rich real estate in

this country. Next, I’ll talk about why their heirs are highly motivated to sell.

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Motivated Sellers

Baby Boomers’ children, Generation X, or the Gen Xers, those born from the

1960s—80s, represent the generation hit harder by the recent recession than

anyone. They were the ones who went through loan modifications, short

sales, foreclosures and bankruptcies. The average Gen-Xer lost half of their

accumulated wealth during the period from 2007 to 2010 according to a Pew

report on the economy. The economic recession hit when Gen Xers were in

their prime earning years, delivering a big blow to their ability to dig out of a

financial hole. A full two thirds of this entire generation are worse off

financially than their parents. Here’s the one thing to remember about the

Baby Boomers’ heirs: Gen Xers are the Poorest Living Generation.

Now, members of the poorest living generation, faced with settling deceased

parents’ estates, need to assume a ton of additional responsibilities before

they can receive their inheritance. The first reality they will deal with is the fact

that, until the estate is settled, they are responsible for ensuring that some big

bills get paid. If a mortgage exists on any estate property, any association

fees, insurance and property tax all must be accounted for. Then, there are

medical bills, hospital bills and funeral bills that will have to be settled.

Probate taxes, which can be a big percentage of the estate settlement, any

state and federal taxes, attorney fees and estate settlement fees all must be

taken into account as part of the estate settlement. All bills are paid out of the

estate, but the person responsible for the estate settlement in on the hook to

see that it all gets handled properly and gets resolved. At times, the estate’s

representative will pay the money upfront, until the real estate is sold, at

which time they will receive reimbursement for those costs. In either case,

outstanding financial issues must be resolved upon the estate settlement

before inheritance distributions. And keep in mind, the Boomer estates are

house rich, but cash poor.

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Person in Charge of Estate Responsible for Settling Outstanding:

Mortgage

Insurance

Association fees

Medical, hospital and funeral bills

Property taxes

Probate taxes

State and federal taxes

Attorney fees, estate settlement fees

How do you think these people feel when this burden is suddenly dropped

into their laps? How would you feel if, in addition to managing your own life, a

job, a family, you suddenly have to deal with all these extra responsibilities?

In my experience, most people feel overwhelmed, frustrated and lost. They

just want to get it over and move on.

Keep in mind, until the financial obligations of the estate are met, the heirs

won’t receive their inheritance. So what do these people do to settle the

financial requirements? They look at the estate’s most valuable asset, real

estate, and they sell it.

The added burden, financial responsibilities and emotional stress of probate

procedures means you have motivated sellers. When you have the

knowledge to navigate the probate system and you know how to interact with

the people involved and the courts, you’ll be in a position to facilitate the real

estate transaction before it is even listed.

Now, once the estate is settled and the heirs receive their inheritance, what

do you think they do? Remember, we’re talking about Gen Xers here, the

poorest living generation. What they do is buy a house. Realtors who have

already helped their client out of their personally overwhelming probate

process are now in a position to represent that same client, or clients, in the

case of multiple heirs, with the purchase of a house. That’s another reason

why probate deals can be so powerful; one lead can lead to multiple

transactions.

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So, as you can see, this tremendous niche market provides an endless

source of real estate equity, motivated sellers and motivated buyers. As I

discussed in the previous section, the wealthiest living generation holds vast

real estate assets in their portfolios. We are witnessing today, the beginnings

of what will soon become the largest transfer of wealth in the history of this

country. The recipients of this wealth will be forced to liquidate real estate

assets in order to settle the estate debts. When the estate is settled and they

receive their inheritance, they will reinvest in real estate. Each transaction

puts money in your pocket.

Take Home Messages

Gen Xers are the Poorest Living Generation

Probate is Financially and Emotionally Stressful

Probate Real Estate = Motivated Sellers

One Probate Lead Can Produce Multiple Transactions

Next, let’s take a look at why I call probate real estate an infinite market.

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An Infinite Market

Remember the graph illustrating the aging population in America I showed

you earlier? It’s worth taking a second look. The wealthiest group in America,

people 60 years and older, totals about 58 million today and that number will

grow to 78 million by the year 2020.

As the saying goes, the two things certain in life are death and taxes. And,

according to EstateSettlement.com, “Over 2 million people die each year in

the United States.”

None of us are going to escape death. As each generation ages, their

property will eventually wind up going through probate. That’s why I call this

an infinite market. It’s part of the normal cycle; it’s tied to the human cycle, not

to real estate cycles or economic cycles or stock market cycles. It’s loaded

with a continuous flow of leads and listings, real estate equity and motivated

sellers that sustains itself even when the traditional real estate market is

unstable.

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Take Home Messages

“…over 2 million people die each year in the United States…”

-- Estate Settlement .com

Probate is an Infinite Real Estate Market

Is the light going on for you? Do you see the infinite opportunities in the

probate real estate? By now, you probably want to know some more about

how it’s done, so let’s move on to the details.

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ABCs OF PROBATE REAL ESTATE

In probate real estate sales, everything starts with the court. Settling estates

requires various court documents and legal decisions leading up to real

estate liquidations. The beauty of this process to the realtor is that court

records are public records. They are available at the county courthouse. This

is the first step in the process; this is where your prospecting starts.

Documents

1. Petition for Probate. Think of this as the application. When a Petition

for Probate is filed, this initial document sets the probate process in

motion. There are two ways a Petition for Probate can be filed: directly

to the court by the person petitioning to be the personal representative

for the estate, or through an attorney filing on behalf of the estate. Both

instances provide an excellent source of leads.

a. Regardless of how the Petition for Probate is filed, by accessing

that document you will have the contact information you need to

directly get in touch with the personal representative or the attorney

and begin prospecting. This public record will include important

prospecting information such as:

Names

Contact information

Property value

Depending on the county, the property address

Any encumbrances on the property

A list of beneficiaries

Right away, you can identify the potential in the deal and know with whom

to follow up.

b. Dealing directly with personal representatives is usually a

somewhat easier route, but contacting the attorney can be helpful.

Over time, you can build relationships with attorneys, and add them

to your network as great referral sources for future business.

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2. Orders. Think of this as the acceptance of the application with specific

terms. After 30-40 days, an Orders document authorizes the person in

charge of the estate to assume legal responsibility of managing the

estate. Without orders, the person in charge cannot legally take any

actions related to the estate. At this point, the person in charge of the

estate may be able to initiate the sale of a house, but they cannot

complete the transaction until they receive the Letters of

Administration/Testamentary.

3. Letters of Administration. Thirty-to-forty days after Orders are issued,

the person in chare of the estate receives Letters of Administration,

also known as Letters Testamentary. This document is very important,

because without it, one cannot close a transaction. This document

allows the personal representative to change title of the deceased

assets.

You’ll be amazed at the quantity of qualified leads you will come across.

Consider this example. The daughter of a deceased person with real estate in

California files a Petition for Probate. You access the record, find out that she

lives in Chicago and that there are two more heirs in line for an inheritance.

You’ve got an out-of-state person responsible for settling the estate and

property that is going to be divided among three heirs. What does that tell you

right away? Managing a California estate from Chicago is not easy; the

person probably doesn’t have any local area realtor contacts and probably

has a limited understanding of the local market. And, because of the number

of heirs involved, it is very likely that the house will be liquidated. You

proactively make the contact, ask for the listing and provide a valuable

solution to a complicated situation. These are the kinds of leads I am talking

about. Qualified leads available through public records.

Probate Documents Petition for Probate

30 - 40 days

Orders

30 – 40 days

Letters of Administration (Testamentary)

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Take Home Messages

Petitions for Probate Produce Endless Qualified Leads

Orders Allow Sales to Proceed

Letters of Administration/Letters Testamentary Allow Sales to

Close

Next, let’s take a look at how the deal is done.

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Selling the Property

The person appointed by the court to handle the administration of the estate,

typically an heir or the individual designated in a Will, is designated a title and

legal powers. This individual is the Personal Representative (PR), a generic

term used by attorneys and judges. Depending on the presence of a Will, the

PR will receive the title “Executor,” meaning a Will is on record or

“Administrator,” meaning no Will is on record. Doesn’t matter; both have the

same legal responsibilities.

When the court appoints the PR, it grants that individual either full or limited

powers. This can also be called independent administration (full authority)

and dependent administration (limited authority). A PR with full authority can

make decisions such as selling estate real estate without prior court approval.

In this case, the PR goes through typical real estate sales procedures. This

type of probate sale is like a Regular Sale. A large majority of probate real

estate transactions are “Regular Sales.”

In many states, a real estate sale involving a PR with limited authority goes

through a process called court confirmation. Court confirmations vary from

state-to-state; some use a formal hearing process, while others simply require

the presiding judge’s signature.

In either case, the PR can sell the estate’s real estate property. In the case of

court confirmations, it may take a little bit longer, but upon confirmation the

close of the sale will continue. Once the sale is closed, the realtor receives

their commission check, just like any other transaction. I have found the

process to be very straightforward, so I’ve never understood why some

people automatically shy away when they know the courts are involved. At

the end of the day, it’s money in the bank. And I promise you; it’s a much,

much shorter process than a short sale.

Now, when selling the property, the PR has two options: 1) sell real property

directly to a buyer; or 2) sell real property by listing it with a REAL ESTATE

PROFESSIONAL.

You’ll also be happy to know that REAL ESTATE PROFESSIONALS sell

more than 85% of probate properties. PRs rarely sell property directly

because of the added responsibilities, the hassles, the emotional stress and,

importantly, legal liabilities. Once misstep or miscalculation and they find

themselves in trouble with the court or they wind up getting sued by one or

30

more of the heirs. They prefer to work directly with a real estate professional

who is licensed, bonded and an expert in the field of estate settlement.

One more piece of good news. Because you got in on the ground floor and

control the listing, you can control the deal before it ever hits the MLS.

Take Home Messages

More than 85% of probate properties are sold by REAL ESTATE

PROFESSIONALS

You control the Deal and the Listing

Okay, so now you know more about how the probate process works and how

real estate sales are transacted in this phenomenal niche market. The next

step is developing the competitive advantage that will give you unlimited

access to probate documents, a unique selling proposition and help more

sellers find you so that you can build your fortune in probate real estate.

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THE COMPETITIVE ADVANTAGE

By now you realize what a fantastic opportunity the probate real estate market

presents. Others will soon recognize this and the market may become

crowded. But there are ways that will distance you from the competition so far

that they will never catch up.

Certification

The more knowledge you have about probate real estate sales, the better

equipped you are to capitalize on this never-ending opportunity to generate

wealth and the more attractive and trusted you become to people selling

probate property. The best way to achieve this status is through education.

Knowledge is power, a power that translates into a competitive advantage.

And the best way to acquire that power is through authoritative education and

certification as a Certified Probate Real Estate Specialist.

Let me tell you about the leading probate real estate certification program in

the country. MTI Education is the nation’s leading authority in probate real

estate opportunities. Number one. The comprehensive Certified Probate Real

Estate Specialist (CPRES) Program is second to none. MTI Education

provides more than expert knowledge; they provide the tools and the support

that help you succeed.

MTI Education was founded by educators and is supported by expert

knowledge and experience in probate real estate. Their CPRES Program

covers all the fine details, from prospecting to closing, from dealing with

courts and attorneys to interacting with estate PRs and heirs, from finding the

best deals to turning the best profits.

As a Certified Probate Real Estate Specialist, you are an expert in the field.

And there’s your Unique Selling Proposition that was missing before. Sellers

will recognize you for the expert you are and place their faith and trust in you

before they will with an everyday realtor who is not certified.

You can learn more about the CPRES Program at the end of the book, or you

can visit www.MTIEducation.com.

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Take Home Messages

MTI Education is the nation’s leading authority in probate real

estate

As a Certified Probate Real Estate Specialist, You are an Expert in

the field.

And there’s your Unique Selling Proposition

Part of your unique selling advantage is education and training that makes

you an expert is the field. Motivated probate real estate sellers want to deal

with certified experts.

But your unique selling proposition doesn’t end here. Next, I’ll discuss some

tools available to you that will increase your competitive advantage.

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Sources of Probate Data

As I mentioned earlier, probate records are available at the local county

courthouse. It’s a simple matter of pulling those records and spending a great

deal of time gathering the necessary information. You have to be vigilant

about it and dedicate part of your day to the task. And let’s face it,

professional realtors are happiest when they are prospecting and creating

business, not doing research; the more deals you close, the more cash in

your pocket.

If I told you that you can have access to a database service that lets you mine

multiple probate leads from multiple counties on your computer, would you be

interested?

Well, you are in luck. A service called Probate Data Services puts multiple

probate leads into your hands with a few simple keystrokes. This service can

increase your access to leads in an extremely efficient manner, put you in

touch with many more opportunities and save you time to put together and

close more deals.

Probate Data Services is a paid subscription program, but well worth the

expense. And because of the relationship MTI Education has developed with

Probate Data Services, anyone who completes the CPRES Certification

Program training gets a special discount that saves them a bundle.

34

Take Home Messages

Probate Data Services Puts Multiple Probate Leads Into Your

Hands with a Few Simple Keystrokes.

CPRES Certified Realtors Get a Special Discount that Saves Them

a Bundle.

Easy access to multiple listings gives you more time to find deals, close deals

and make more money. You’ll stay way ahead of the competition. Another

tool I’ll describe in the next section puts even more distance between you and

would-be competitors.

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Marketing

Remember the top 5 reasons 90% of realtors aren’t doing any business? One

of these challenges, cited by many real estate professionals is, “Difficult to be

located by seller.” Well that can change easily.

Let me tell you about another tool, an online marketing tool that will ensure

that many motivated buyers find you. U.S. Probate Services is an online

marketing service for Certified Probate Real Estate Specialists. This service is

the only nationwide probate real estate services resource. U.S. Probate

Services is free to consumers searching for professionals who specialize in

estate settlements. The service ranks in the top 3 on Google, Yahoo and

Bing, so it attracts tons of sellers seeking expertly qualified services.

The only requirements real estate professionals need to be listed in the

directory are the certification in probate real estate and a modest monthly

subscription fee. And, because of a special relationship with U.S. Probate

Services, anyone completing the MTI CPRES Certification Program qualifies

for a substantial discount.

This service helps people from all over the country find the qualified help they

are seeking. Don’t forget, a lot of people settling estates are from another

state. It acts as the search engine optimization tool for agents certified in

probate estate deals with a 24/7 nationwide reach.

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Take Home Messages

U.S. Probate Services Online Marketing Services

The ONLY nation-wide Probate Services Resource Directory

Ranked within the TOP 3 on Google, Yahoo and Bing Searches

Free to Consumers Seeking Estate Settlement Realtor

Specialists

Open to C.P.R.E.S. Certified Agents

With an online, nationwide marketing tool that works 24/7, motivated

buyers find you. This is one more piece of a complete systematic

approach to the probate real estate market the give you the competitive

edge.

37

Support

Whether new to the probate real estate field or an experienced pro, everyone

can profit from coaching, networking and feedback. MTI Education provides

the support you need to get started, stay at it and succeed. You won’t find

such dedicated support committed to your success anywhere else.

Coaching calls, live and recorded

Email support

An exclusive social media site

o Networking

o Discussion groups

o Feedback

When you have the competitive advantage through expert certification, to

tools for multiple leads and nationwide marketing and an ongoing support

network. Your have a unique selling proposition, list more properties and

connect with more sellers so that you can outpace the competition in the

probate real estate market.

Take Home Messages

Competitive Advantages for Probate Realtors

Certification

Access to Probate Data

24/7 Nationwide Marketing

Ongoing Support

The combination of all of these elements works for you and sets you apart

from the competition

The next section is going to bring things full circle and examine how I did on

addressing the 5 biggest reasons realtors are not doing business in today’s

market that were introduced in the first section.

38

RECAP

Didn’t I tell you I have a solution that addressed the 5 biggest reasons realtors

are not doing business in today’s market? If you are one of the 90% who are

experiencing difficulties with finding leads, getting listings, differentiating

yourself and finding a steady stream of business, I’ve just laid out for you a

system that works, and will continue working non-stop.

So let’s see how my system that focuses on the probate market today and in

the foreseeable, predictable future stacks up to the traditional real estate

market to see which strategic play wins.

Characterizations of Traditional Versus Probate Real Estate Markets

Traditional Real Estate Probate Real Estate

Difficult to locate a listing. Easy to locate a qualified lead before it is listed.

Difficult to be located by a seller.

Sellers will find you.

No Unique Selling Proposition to differentiate yourself from the crowd.

Certification establishes you as an expert in the market and separates you from the competition.

Need continuous flow of listings to succeed.

Endless flow of qualified leads and listings—an infinite market.

Real Estate Market is Economically Unstable.

Stable, perpetual market unaffected by economic or real estate downturns.

So what are you waiting for? All you need is the education, training and tools

required to get back in the game… For the best solution that provides you the

education, expertise, tools and support you need to start building your fortune

in real estate today, contact me at www.MTIEducation.com.

The next section provides an overview of the comprehensive CPRES

Certification Program at MTI Education. Take a look to see the complete

training, tools and support available to you.

39

ABOUT THE MTI PROBATE REALTOR CERTIFICATION

Unlike most educational programs, at MTI Education you

receive the training and the certification and the tools and the support you

need to succeed as an expert, a Certified Probate Real Estate Specialist.

MTI Education was founded by educators with a passion for training,

expertise in estate settlement and a successful probate real estate track

record totaling millions of dollars.

The Certified Probate Real Estate Specialist Program is a comprehensive and

flexible system that provides education and training, probate data, online

marketing services and more.

Flexible

Available through live classroom training or through virtual online training.

Select the training and education vehicle that best meets your schedule, your

location and your preferred learning style.

40

Comprehensive System

1. C.P.R.E.S. Certification Program (Classroom or virtual training).

See curriculum below.

2. Probate Data—Your Lead Provider

Updated and current Probate Leads database--directly from the court files

for select counties in service states.

3. US Probate Service—Your Marketing Services

The ONLY nation-wide Probate Services Resource Directory.

Ranked within the TOP 3 on Google, Yahoo and Bing search engines.

Free service for consumers who are looking for professionals

specializing in settling an estate.

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Supplemental Course Material

1. Audio Program – 2 CD set

Ongoing learning reinforcement

2. Marketing Documents CD

Plug and play customizable

comprehensive marketing

collateral—brochures, business

cards, letters and more…

3. State by State Library CD

Compilation of courthouse contact information in your area

4. C.P.R.E.S. Training Manual

Book to guide your learning of the niche market of probate real estate

5. Weekly Coaching Call (1 yr)

Ongoing coaching and feedback. Participate live or listen to recorded

session later

6. Email Support (1yr)

36-hour response rate to all your questions

7. Facebook CPRES Community

Exclusive networking and discussion groups with colleagues, trainers and

coaches

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CPRES Training Curriculum

From A—Z how to become a probate real estate master and monetize this

lucrative niche market.

Session 1 – Probate Lead Generation – You will learn:

1. How to list properties from Probate, Conservatorship, Living Trust and

Guardianship situations.

2. How to identify the RIGHT LEAD and communicate with motivated

executors and administrators.

3. Five proven steps to get an appointment with an executor or administrator.

4. What to say during an appointment, so you get the listings

5. How to identify the executors and administrators who are READY to sell

NOW!

6. The fastest strategies to quickly spot the best probate files to work with and

get RESULTS!

Session 2 – Marketing - You will learn:

1. How to create and apply marketing strategies that are most effective when

listing probate properties.

2. How to contact and communicate with attorneys and get access to their

probate property inventory.

3. How to set your prospecting time line to make sure you get results right

away.

4. How to arrange cash access for administrators and executors and get paid

for helping them.

5. How to buy personal property for pennies on the dollar.

6. And much more…

To learn more about the real estate selling certification program that will lead

you to infinite sales opportunities, go to www.MTIEducation.com.

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CONCLUSION

There it is folks. I’ve laid out the phenomenal opportunity in probate real

estate for you in a very straightforward manner. I was able to do so because it

is a straightforward process toward selling in an infinite market that you can

master through acquiring the education, tools and support you need to

become an expert in the field, help others in a difficult situation and put

money in your pocket.

If I was able to amass a fortune in this market as a kid who arrived in this

country several years ago with nothing but a dream, you can too. And now

I’ve made it easier for you. After reading this book, you undoubtedly see the

challenges investors and agents face in a traditional real estate market and

how my approach to capitalizing on probate real estate eliminates those

challenges.

So don’t wait for a market bounce back; you may be waiting a long time. Act

now and get in on the ground floor so that you are prepared for the greatest

transfer of real estate wealth in this country’s history. With endless leads,

multiple listings, equity-rich deals and motivated sellers just waiting, if you

make the move now to position yourself as a certified expert in real property

estate settlements, it will be the best career move you ever made in your life.

It’s your turn. It’s your move. Contact me today at www.MTIEducation.com.

Let’s get started.

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Mike Torres

CEO, MTI Education

ABOUT THE AUTHOR

Mike brings a passion for teaching born

from a strong desire to empower people

through education and savviness for

investing. His goal is to help agents and

investors succeed in a challenging real

estate market while they help families

dealing with the difficulties of estate

settlements.

In 1980, Mike arrived in America with one

mission, to buy his mother a house. In

addition to buying mom a home, he built a

thriving real estate business by

approaching the market in a unique way.

By specializing in probate real estate, Mike

enjoyed great personal and financial

success as an investor.

Today, MTI Education helps people from

all walks of life achieve their dreams by

teaching them the time-proven method

that’s worked for him and his family for the

last two decades. His secret: Investing in

real estate using the probate court system

in America. Now, with the MTI Education

Certified Probate Real Estate Certification

Program, it’s your turn!