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Let's Talk Real Estate Investing with Sharon Vornholt

Let's Talk Real Estate Investing with Sharon Vornholt

Sharon Vornholt

Hi! I’m Sharon. I started my investing journey in 1998 while I owned and operated another successful business. Real estate was originally my side hustle. I invested part-time for about 10 years doing rehabs and picking up a handful of rentals before finally becoming a full-time investor. In 2008 when the market crashed, I became an "accidental wholesaler". (That was never my plan.) Today, I help real estate investors create unforgettable brands and marketing plans that work! I also help people become an expert in one of the most lucrative niches on the planet, probate investing. I have been the leading probate investing expert for more than a decade, and I can make you an expert too. Whether you are a full-time investor or real estate is your “side hustle” for the time being, I can help you take your business to the next level. If you’re ready to shave years off your learning curve you are definitely in the right place. These podcasts not only bring you information packed interviews, but also tools, tips and a whole lot of “how to” information to help you start or grow a successful real estate investing business. Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified. https://louisvillegalsrealestateblog.com

443 - Do Probate Properties Need Court Approval to Be Sold?
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  • 443 - Do Probate Properties Need Court Approval to Be Sold?

    Today we’re going to talk about whether probate properties need court approval to be sold, and how to handle the current problem tenant residing in the property.

    This question was from a person new to probate who was both an agent and an investor. She was trying to help the seller who inherited the property but was stumped by how to proceed with this unusual and very sticky situation.

     

    Here’s the situation in a nutshell:

    The seller inherited a property with a non-paying tenant who also happened to be a relative. To make things even worse, the tenant refused to let the new owner into the condominium for inspection or to show the property so it could be sold. The new owner was reluctant to evict the relative but found himself in a really uncomfortable position. He inherited a property he couldn’t even enter and was getting no rent on the property. 

     

    What would you do in this situation?  

     

    Listen in to hear more about what I had to say.

     

     

    [00:00 - 02:33] - Opening & Question Overview

    Question comes from real estate investor & realtor, wants to purchase inherited duplex

    One unit occupied by problematic non-paying tenant who is a family member

    Asks if court approval is needed beyond typical probate court

     

    [02:34 - 04:19] - Tenant Issues & Offer Considerations

    Tenant not paying rent, only utilities, refused $700 cash for keys offer

    Not allowing showings or access to property

    Should factor in lower offer price & costs for repairs

     

    [04:20 - 05:56] - Probate Court Approval Process

    Requires probate court approval but standard, no special approvals

    Attorney can provide proper contract language on closing timeline

    Good to know local state laws, can have small regional differences

     

    [05:57 - 07:27] - Financial Impacts & Offer Adjustments

    Estimate 4-6 months before re-renting: eviction, clean up, repairs

    Factor in costs for lost rents during this period

    Adjust offer price accordingly

     

    [07:26 - 10:07] - Closing Tips

    Don't reveal as owner to tenant, pose as property manager instead

    Check local laws, get probate investing starter kit & resources

     

    Resources Mentioned in this show:

    FREEBIE: Probate Investing Starter Kit   

    Probate Investing Simplified Course         

     

    Key Quote:

    "I would tell the seller that unless I could see the unit, I would have to assume that it's trashed” - Sharon Vornholt

     

    WANT TO LEARN MORE?

     

    Connect with me through my website, Instagram, and LinkedIn

    Or you can send me an email at sharon@sharonvornholt.com

    Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

    Learn more about this podcast on iTunes, or Stitcher.

    If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

    Thu, 30 Nov 2023 - 10min
  • 442 - 10X Your Wholesaling Business with Dan Toback

    I have a great show for you today. My guest is Dan Toback and you’re going to get some tips on how to 10x your wholesaling business. These are the same things he uses in his own business.

    Now if you aren’t a wholesaler, this show is still for you. Dan is an expert when it comes to talking to sellers in a way that builds trust and rapport, he has a rock-solid follow-up process, and he’ll go deep into some of the systems and processes he uses in his own successful real estate investing business.

     

    [00:00 - 11:14] - Building Your Local Brand and Reputation

    Represent yourself as a friendly neighborhood buyer, not a big hedge fund Adopt a friendly culture in your interactions and marketing

    [11:14 - 18:20] - Leveraging Direct Mail Marketing

    Can be expensive but effective. Start small with handwritten letters if needed. Focuses on motivated sellers who call you.

    [18:20 - 24:35] - Qualifying Leads Over the Phone

    Build rapport and get to know the seller Understand their motivation for selling Confirm decision makers will be present

    [24:35 - 38:00] - Hiring for Culture Over Skills

    Can train skills but not personality and character Want people interested in solving problems over just the money

    [38:00 - 55:30] - Using Home Inspections and Standing Out

    Worth the small investment even for cash buyers Gives you justification to renegotiate if needed Don't just compete on price - be uniquely different

     

    Resources Mentioned:

    REI Freedom Facebook Group 

    Discount Code For Coaching with Dan: Probate Queen

    Probate Course

    Freebie: Probate Investing Simplified  

    CRM (there’s a free version)  

     

    Book Mentioned:

    “Get Different" by Mike Michalowicz

     

    Key Quote:

    “If I can do it, You can do it. I wasn't naturally a good salesperson.” - Dan Toback

     

    WANT TO LEARN MORE?

     

    Connect with me through my website, Instagram, and LinkedIn

    Or you can send me an email at sharon@sharonvornholt.com

    Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

    Learn more about this podcast on iTunes, or Stitcher.

    If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

    Thu, 16 Nov 2023 - 55min
  • 441 - How to Set Your Business Up for Success in the New Year

    Today I have some easy-to-implement tips on how to set your business up for success in the new year. We have a little less than 8 weeks left in this year which is plenty of time to complete some of those unfinished goals. 

    Each new year is an exciting time for a fresh start. Here are 6 tips to help you finish the year strong.

     

    [00:00 - 02:47] - Do a “Look Back” on the Year

    Look back at the goals you set 12 months ago and evaluate your progress

    Consider letting go of things that are no longer serving your business

    [02:48 - 04:15] - Plan the Rest of the Year and Put it on a Calendar

    Make a plan for the rest of the year in broad terms, then niche down

    Put action steps and time blocks on your calendar to stay focused

    [04:16 - 05:59] - Evaluate and Adjust Your Marketing

    Keep marketing throughout the holiday season when others may drop out

    Look back at marketing strategies - what's working, what's not?

    [06:00 - 10:07] - Start Thinking About Next Year's Goals

    Have no more than 3-4 big goals, including a stretch goal

    [10:08 - 13:39] - Analyze Your Business's Profit Opportunities

    Make sure you're wholesaling deals that don't fit your model

    Add more off-market deals like probates, pre-foreclosures etc.

    [13:40 -15:09] - Make Personal Development a Priority

    Invest in a mentor or coach to accelerate your progress

    Commit to personal growth and moving outside your comfort zone

     

    Resources Mentioned:

    Louisville Gal’s Real Estate Blog

    Let’s Talk Real Estate Investing Podcast – How the Silver Tsunami Creates Massive Opportunity for Real Estate Investors

    Probate Investing Simplified Course

    FREEBIE: The Probate Investing Starter Kit

     

    Books Mentioned:

    The 12-Week Year by Brian Moran

    The One Thing by Gary Keller and Jay Papasan

     

    Key Quote:

    "I believe that you should never end a year the exact same person as you were when the year began” - Sharon Vornholt

     

    WANT TO LEARN MORE?

    Connect with me through my website, Instagram, and LinkedIn

    Or you can send me an email at sharon@sharonvornholt.com

    Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

    Learn more about this podcast on iTunes, or Stitcher.

    If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

     

    Thu, 09 Nov 2023 - 15min
  • 440 - How to Invest in Real Estate Using None of Your Own Money

    Today you’re going to learn how to invest in real estate using none of your own money and no JV partners. My guests are Mel and Dave Dupis, creative funding experts who have a mix of all types of commercial and residential properties. We will also dive into scaling your business, exit strategies, mindset and so much more. [00:00 - 06:54] - Mel and Dave's Intro to Real Estate

    Started out working multiple jobs and buying properties traditionally

    Discovered they couldn't grow quickly enough saving for down payments

    Interviewed successful real estate investors and created a plan

    [06:55 - 22:32] - Types of Creative Financing Strategies

    Favorites are seller financing (carry backs) and using self-directed retirement funds

    Seller financing allows flexibility to meet seller's needs in exchange for purchase financing

    Self-directed IRAs / 401Ks can be used to fund real estate purchases

    Promissory notes help cover deposits, down payments, rehabs, and closing costs

    [22:33 - 31:34] - Building the Right Real Estate Team

    Property managers are key for finding pocket listings from sellers

    Investor-focused real estate agents understand numbers and creative finance

    Ask probing questions to vet real estate team members' experience

    Managed their own properties at first to understand property management

    [31:35 - 36:14] - Buying International Real Estate

    They've purchased properties in the U.S., Canada, Costa Rica using creative financing

    With the right team, can quarterback international deals from anywhere

    Made over $100K on a Costa Rica deal with no money down

    [36:15 - 46:26] - Avoiding Common Investor Mistakes

    Don't overspend or inflate lifestyle before long-term wealth is built

    Prioritize property purchases over luxuries in beginning

    Have a budget and savings buffer for unexpected expenses

    Maintain oversight and understanding even with property managers

     

    Get In Touch With Mel & Dave:

    Website

    YouTube

    Facebook

    Instagram

    LinkedIn

    TikTok

     

    Key Quotes:

    “If ever something happens, we'll sell our house before we don't pay back an investor because we can always buy a house, but we can never buy back our reputation.” - Dave Dupis

     

    "We were literally trading our time for money, and although the book didn't show us how to do it, it made us realize that we're doing it all wrong and that there's an easier way to do this." - Mel Dupis

     

    WANT TO LEARN MORE?

    Connect with me through my website, Instagram, and LinkedIn

     

    Or you can send me an email at sharon@sharonvornholt.com 

     

    Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

     

    Learn more about this podcast on iTunes, or Stitcher.

     

    If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

     

    Thu, 02 Nov 2023 - 46min
  • 439 - Probate Investing for Agents and Investor/Agents

    Today’s show is specifically for brokers, Realtors, and investor/agents. 

    I want to show you how you can tap into an endless stream of motivated seller leads with probate properties. You will learn exactly how this once-in-a-lifetime event known as the “Silver Tsunami” will allow you to do this consistently over the next two decades. Probates have always been my number one source of leads. These leads are hidden gems. You will also learn how easy it is for you to become known as a probate expert in your area so that you can better serve your clients. 

    There is a link below to the longer podcast about the "Silver Tsunami" so be sure to check it out. Those statistics are eye opening!

     

    [00:00 - 03:58] - What is the “Silver Tsunami”?

    The "Silver Tsunami" refers to the aging baby boomer generation Huge opportunity for real estate agents, brokers, and investors

    [03:59 - 05:25] - Capitalizing on the "Silver Tsunami"

    Why now is the time to become an expert in probates Key statistics on the size of the baby boomer population The peak of the "Silver Tsunami" expected between 2037-2044

    [05:26 - 08:09] - Understanding the Probate Process

    Probate properties will likely be higher-quality homes Overview of what happens when a property enters probate Many surviving spouses will eventually sell and move

    [08:10 - 12:07] - Becoming the Probate Expert

    Probate Investing Simplified teaches the probate process and marketing Tips for marketing to probate sellers as a real estate agent Probate leads are guaranteed consistently, unaffected by markets Opportunity to establish yourself as the go-to probate expert

     

    Resources Mentioned:

    Freebie: Probate Investing Starter Kit

    Probate Investing Simplified Course 

    The Silver Tsunami Podcast Episode 

    Louisville Gal’s Real Estate Blog

     

    Key Quotes:

    "The next 15 to 20 years for anyone working in real estate, they truly will have a once in a lifetime opportunity to benefit from this changing demographic." - Sharon Vornholt

    "With probates, you are guaranteed a steady stream of leads month after month, year after year. These leads are completely unaffected by market conditions." - Sharon Vornholt

     

    WANT TO LEARN MORE?

    Connect with me through my website, Instagram, and LinkedIn

    Or you can send me an email at sharon@sharonvornholt.com 

    Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

    Learn more about this podcast on iTunes, or Stitcher.

    If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

    Thu, 26 Oct 2023 - 12min
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