Case Study - $3,000 comish for 5 emails
Hey everyone! This isn't a wholesale, but it helped me build rapport with an estate attorney that now likes to send me his probate properties. They had a probate case that was tied up for months. The son wanted to purchase the family home but couldn't due to the poor condition and a large $42,000 lien on the house from a medical facility. Since he couldn't get financing, they were just sitting. After reading about this in 1 paragraph of a book, I decided to blindly go in and attempt to purchase the lien for $10,000. I knew I'd figure it out as I went. I told an investor, put $10,000 in and when it closes you'll get $32,000. I sent a few emails to the lienholder and they initially agreed to sell the lien. Last minute, they decided to release it instead. The attorney stepped in (always good to keep those on your team because it seems like they know all the attorneys in the area). The lien ended up being released for $0. I returned the $10,000 back to the investor. End result: - $42,000 of equity went back into the estate which gave the son room to get financing and purchase the house ( a family home stayed in the family ) - the law and real estate team all got paid - My name was called out in the closing room for 'saving the day' and a quick $3k was sent my way as thank-you. All together, this took me about an hour of 'work.' (Idea, get the $10k, cash it, send the emails). I just wanted to throw this in here to: a. give you an alternative for when there are liens on a property. Try to get them RELEASED first if the numbers aren't working. b. give those still finding their confidence in this space that while the numbers are important, following through on your ideas to see how it ends is what moves the needle. c. Good paydays feel good in one way, AND helping others just to help them is an entirely different warm fuzzy feeling that you remember longer. Bless and be blessed. Cheers!