Cold Calling and Probate Deals: Tips from Stefanie Kebede

Cold calling and probate deals are key components in the toolbox of any successful real estate investor. In a recent episode of the Thought Leader Spotlight series hosted by Matt Kamp from DealMachine, Stefanie Kebede—a rising star in the real estate industry—shared her invaluable insights on these topics. This blog post distills the wisdom imparted by Stefanie, blending her experiences with practical advice that can benefit both novice and seasoned investors.

Getting Started in Real Estate

Stefanie Kebede's journey into real estate is both inspiring and instructive. She began her professional life feeling unsatisfied with her college experience, sensing that her path lay elsewhere. After a couple of false starts, Stefanie found her way into the world of real estate. Initially balancing warehouse and caregiver jobs, she eventually transitioned into full-time real estate, becoming both an agent and an investor.

"I'm a Christian and realize that God doesn't want us to have that money mindset. So that's when everything changed."

Building a Diverse Portfolio

Stefanie's approach to real estate is multifaceted. Her portfolio includes wholesale deals, novation agreements, fix and flips, and even land deals. Recently, she has also been focusing on building her rental property portfolio, setting an ambitious goal of owning 100 rental units by the end of the year. As of mid-2023, she has already amassed 14 units, primarily focusing on multifamily properties.

Cold Calling Strategies

Cold calling remains a controversial yet highly effective method for real estate prospecting. Stefanie emphasizes a relaxed and personal approach when making calls.

Key Cold Calling Tips:

• Casual Approach: Introduce yourself casually and mention that you happened to notice their property.
• Personal Connection: Use the seller's name to make the conversation feel more personal.
• Authenticity: Be yourself and avoid coming across as a sales call.

Important Questions to Ask:

1. Is the property vacant or tenanted?
2. If tenanted, what is the tenant paying?
3. What is the lease term—month-to-month or yearly?
4. When did the lease start?

By diving deep into these questions, you can gauge the property’s status and the seller's situation, helping you determine if it's a warm or hot lead—perfect for setting an appointment.

Success with Probate Deals

Probate deals are another focal point of Stefanie's strategy. She finds these deals by scanning county records with the help of a virtual assistant (VA) and then sending out cold calls and direct mail.

Probate Deal Tips:

• County Records: Consistently search county records for probate properties.
• Outreach: Utilize direct mail and cold calls to contact property owners.
• Warm Leads: Once a lead shows interest, examine the property's condition and set an appointment.

Combining Roles: Agent and Investor

One of Stefanie's strengths lies in her dual role as both a real estate agent and an investor. This dual capability allows her to offer sellers multiple options tailored to their needs:

• Listing the Property: For sellers seeking a higher price.
• Wholesale Offers: For those needing a quick cash offer.
• Creative Financing: For situations where innovative solutions like novation or lease options might fit.

The Power of Mentorship and Networking

Becoming comfortable with complex deal structures such as novation or subject-to deals often requires guidance. Stefanie credits her mentor and extensive use of available resources like YouTube for her knowledge and confidence.

"Getting a mentor has been huge. Once me and my partner got that mentor, we got that first deal, and then the next deals started rolling in."

Networking Tips:

• Real Estate Meetups: Attend local events to connect with other professionals and potential mentors.
• Social Media: Utilize platforms to document your journey and build credibility.

Leveraging Social Media

Documenting her journey on social media platforms like YouTube has been beneficial for Stefanie, offering an additional income stream and serving as a 'real estate resume' to attract private money lenders.

Social Media Tips for Newbies:

• Document Your Journey: Share your experiences from the beginning to showcase your growth.
• Use Multiple Platforms: Post on YouTube, Instagram, TikTok, and other relevant platforms to maximize reach.

Funding the Deals

Finding the right lender is crucial for any real estate investor. Stefanie suggests using your real estate resume, comprising social media documentation, to build credibility and attract funding from private money lenders.

Funding Tips:

• Networking: Build relationships in person and online.
• Real Estate Resume: Use your documented journey to showcase your expertise and reliability.

Conclusion

Stefanie Kebede’s real estate tips offer invaluable guidance for anyone looking to dive into or improve their real estate investment strategies. From the importance of a personal touch in cold calling to leveraging social media for credibility, her insights are both practical and actionable. Stay persistent and consistent, as Stefanie advises, and the deals will start rolling in.

For more insights and detailed strategies, be sure to connect with Stefanie Kebede on her various social media platforms and keep an eye out for her future content.