I recently heard a quote that really stuck with me: “The worst thing an entrepreneur can do is run enthusiastically in the wrong direction.” It got me thinking about all the newbie real estate investors I’ve seen over the years—full of excitement but following bad advice. They dive in after watching a YouTube video or attending a seminar, and before they know it, they’re running headfirst into costly mistakes. The truth is, I’ve seen too many people get caught up in the hype, especially in probate, and end up going nowhere because they didn’t have the right guidance.
Here’s something crucial that every probate investor needs to know:
It’s not just about the property…it’s about the people.
In probate, you’re not just dealing with a piece of real estate; you’re dealing with families in grief, trying to navigate a complex legal process while managing the emotional burden of losing a loved one. If you run into these situations with the wrong approach, like many overly enthusiastic but uninformed investors do, you’ll not only lose the deal, but you’ll also damage your reputation in the process.
1. Timing is Everything
One of the biggest rookie mistakes I see is jumping the gun and reaching out to heirs before they’re ready. I get it, you’re eager to close a deal, but probate is a process, and that process doesn’t move at the speed of a regular real estate transaction. Just because a property is tied up in probate doesn’t mean the family is emotionally ready to sell it.
Understanding the legal timeline of probate is crucial here. Some eager investors will send postcards, letters, or cold-call personal representatives the second a probate case is opened. But they don’t realize the family might still be months away from even considering selling the property. They’re following bad advice from someone who doesn’t understand that probate isn’t a race, it’s about pacing yourself and knowing when to make the right move.
2. Empathy Over Enthusiasm
One of the things that separates the successful probate investors from the ones who burn out quickly is their ability to empathize. Probate is not just a transaction, it’s a relationship. When you come in full of excitement but lacking emotional awareness, you end up alienating the people you’re trying to help.
Here’s an example. I had a student, Cole, who had all the enthusiasm in the world but no experience in probate when he first came to me. He was ready to hit the phones and cold call probate leads without understanding that these families were going through a tough time. I taught him to slow down and listen. On his fifth cold call, he connected with a man named Matt, whose parents had passed away. Instead of rushing into a sales pitch, Cole took the time to listen to Matt’s frustrations with the probate process. That empathy helped him build trust, and Matt eventually let Cole handle the property. That deal never would’ve happened if Cole had run enthusiastically in the wrong direction and started with a hard sales pitch.
3. The Power of Being a Problem Solver
A common mistake I see is newbie investors thinking their only job is to buy the house. Wrong. In probate, your real job is to solve the family’s problems. Probate isn’t just about offering a cash deal; it’s about helping heirs untangle a complicated process; whether that’s dealing with unpaid taxes, mortgages, or even other family members who can’t agree on what to do with the property.
If you rush in thinking you’re just there to make an offer, you’ll miss out on the real opportunities. Probate sellers need someone who can come in, understand the various issues at play, and offer a complete solution. The faster you can become the expert problem solver, the faster you’ll succeed.
4. Education and Teamwork
Another key thing to understand is you can’t do probate deals successfully without a solid understanding of the legal side and a strong team. If you don’t have an experienced probate attorney or title company that knows how to deal with probate properties, you’re setting yourself up for failure. This is where many people fail, they enthusiastically charge in without realizing how important it is to build relationships with professionals who specialize in probate.
A good coach or mentor can help you avoid unnecessary delays, rookie mistakes, and costly missteps. Trying to navigate probate real estate on your own, without guidance from someone who’s been there, is like running full speed toward disaster. A mentor who’s already mastered the probate process can steer you in the right direction, saving you time and frustration by showing you exactly what works…and what doesn’t. Instead of learning through trial and error, you’ll fast-track your success with the wisdom and experience of someone who’s already paved the way.
In short, the quote resonates because I’ve seen so many people in probate real estate rush into the market, only to stumble because they didn’t take the time to understand how probate works or how to genuinely connect with the people involved. Probate is more than just a niche, it’s about being the trusted guide who can lead heirs through one of the most challenging processes of their lives. So, before you enthusiastically run, make sure you’re running in the right direction toward knowledge, empathy, and solutions.
To your success,
Ernie “ Running in the Right Direction” Vargas
