Get on the fastest road to financial freedom by taking on one of the most profitable niches in real estate: probate sales. Today’s guest, Michael Young, runs a small brokerage that earns a profit of approximately $1 million per year specializing in probate properties. Michael invests a large chunk of these profits in a somewhat surprising type of real estate; he invests in mobile home parks. Hear how to get business from probate attorneys, why mobile home parks can be a great source of passive income, and more on this episode of Real Estate Rockstars.
Listen to today’s show and learn:
- Michael’s brief bio [3:54]
- How much Michael earns, profits, and invests in real estate [4:30]
- The type of real estate Michael invests in [5:24]
- How Michael got started as a real estate investor [7:47]
- What Michael does in his brokerage business [8:26]
- Where Michael finds 100 deals per year [9:23]
- How to get referrals from probate courts and attorneys [10:43]
- Michael’s prospecting routine [12:29]
- A role play demonstrating how Michael gets business from attorneys [13:20]
- The secret to winning over an attorney [16:44]
- Why Michael doesn’t bother with FSBOs or expired listings [22:32]
- Michael’s method of getting information from probate courts [25:03]
- How Michael finds deals on mobile home parks [27:59]
- How to break through your goals.
- Plus so much more.
Michael Young started his diverse real estate career right after graduating high school. His original training was working in their family real estate business where he was part of developing apartments as well as responsible for the sales of hundreds of homes. Stepping out on his own in 1988, Michael was hired by one of the nation’s most well respected real estate investment services companies: Marcus and Millichap Commercial brokerage. Following the experience of working over a large territory in commercial investment sales, Michael decided to focus on residential brokerage; which is where he felt he could serve the community best.
In residential brokerage, Michael started at Coldwell Banker and immediately achieved “Top Agent” designation in a very short time. He continued as a leading producer at Coldwell Banker for many years until he decided it was time to establish his own company.
At Princeton Pacific Properties they provide excellent client service, in-depth knowledge of the ever changing California Real Estate market, and the experience of thousands of completed transactions. Having personally represented over 2,000 families/individuals, Estates and Bank owned properties over the last two decades, Princeton Pacific can handle all Real Estate needs. Year-to-date, more than 60% of their business can be attributed to positive word-of-mouth referrals from past clients.
Providing “first-rate” service to his clients has always been Michael’s top priority. The amount of disclosures and paperwork has tripled since he began his career in Real Estate. This requires the staffing of experts and their efforts allow him to dedicate more time to what he does best – prospecting for buyers and sellers, networking with other top agents, negotiating contracts and marketing homes.
As a Realtor, Michael has a written contract with his clients. Part of that agreement involves terms like, “good faith,” “diligent effort,” “looking out for the best interests of the client” etc. He wants his clients to know that he takes this very seriously. Clients are treated and serviced as Michael would want to be treated and serviced.
From regular real estate sales to complex probate and trust sales, each transaction receives supreme skill, knowledge and attention to detail. Michael has been on many panels coaching Realtors on how to serve the client on stages all over the United States and in September of 2010 was again asked to speak to Realtors in Rome and London.
Michael has been happily married to his lovely wife Karen since 2002. They both are devoted parents to their daughter Grace, who is 11 years old, and they are involved in multiple community oriented organizations and charities.
Related Links and Resources:
- Grow Your Real Estate Profits with Our Agent Success Toolbox!
- Princeton Pacific Properties
- Michael Young | Zillow
Thanks for Rocking Out
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