probate system: So is it TRUE about the 10% Deposits with Probate Real Estate...Nope!
- 12/05/16 07:15 AM
I have had many buyers (VA or FHA) in the past not be able to purchase a Probate Home because the old law (which is still around) requires a 10% deposit with the offer. Think about it. VA and FHA buyers make up probably 60% of the market in most areas. VA buyers are placing 0% down and FHA 3.5%. They have closing on average at the medium sales price in my area of $8000 to $10000 and barely have enough to cover. So here is the crazy part.
If they are buying a $300K house which is a starter in my area then … (1 comments)
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probate system: R/E AGENTS & INVESTORS: Add 15 Sides to your production.
- 11/28/16 05:57 AM
In my Real Estate Business I'm often asked how many probate homes can one expect to do following my program. This is a tough question to answer for someone else so what I do is tell them what I have been averaging based on my time schedule, number of probate files and market place. As a Probate Agent if you have 60- to 80 new files each month with real estate like I do then your expectation should be the same with the exception being how good you are compared to me. You may be better and do more. Hope this makes sense.
Over the last … (0 comments)
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probate system: Probate Real Estate Tracking: Part II
- 11/27/16 08:07 AM
Probate Tracking Sheet...Where we find and keep all our Probate Real Estate pertinent information.. (Continued)...
WILL OR NO WILL
As a Probate Agent we will need to know whether the estate has a will. The will gives the executor power to sell property, so we can find the info two ways in the file. First, on the back of the "Petition to Probate", you will see a statement with boxes asking if the estate had a will or no will. If there is a will, note it on your tracking sheet under Will Information. You will concentrate your "LEVEL 1" searches on property where the deceased has left … (0 comments)
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probate system: The Art of Probate Real Estate Tracking
- 11/25/16 11:05 PM
- RESEARCHING THE FILE (Calif. Court Houses)
In each probate file, you will find a variety of forms pertaining to the probate real estate process. Most of these forms don’t have the pertinent information we need. If you concentrate only on what you are looking for and don’t try to understand every detail on every form, you will have an easier time learning the system and spend a lot less time researching files. After you have searched through a few dozen files, you will begin to master the mechanics of probate real estate as a Probate Agent or Investor.
Now, under the old system, if you're researching online … (3 comments)
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probate system: Take a peek into a past Meet Up [ Pics & Vids ]
- 11/17/15 09:02 AM
Recently, I was keynote speaker at a real estate meet-up in Sunnyvale, CA.
It was standing room only, check out these pics from the night...
During this meet up, I covered my 5 ways I earn income working probte real estate. I mentioned the importance of having a good Hard Money Lender and Title Company that is experienced in probate real estate, but the right way, not the way most agents and investors "think" probate is.
This meet up here was all about Hard Money and the right Title Company so I thought I would share...hope you find something from this that can … (3 comments)
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probate system: SAVE your Investors Inspection Costs EVEN WHEN the deal is a NO GO
- 07/22/15 01:08 AM
Since my business is based around selling probate homes to my investors off the MLS market, there are steps I take to insure I'm not wasting my investors money on deals which don't close. We make many offers and they are always "as is" subject to inspections. My inspection costs today is about $550 for Pest, Roof, Home and Sewer Lateral. I always have these checked to make sure my investors purchase is sound.
So if I make 6 offers during the month for 2 of my investors the inspection costs would be roughly $1650 for each investor on the properties. Since … (0 comments)
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probate system: Examples of Profit Potential from Probate Real Estate
- 05/28/15 07:22 AM
Property Profit Examples
In 1992, using my Diamond Farming Probate System, an investor I flipped a lot of property with and I earned $121,350 on 6 probate buy/sells within 18 months.
These profits where not including my commissions, but I wanted to show what can be done as a Probate Agent.
You work with Investors buying and selling probates which I call my "Level 1" Probate Opportunity.
I have been explaining what I have been doing over the last 25 years with Probate Investing and these examples are just a few.
These are some Level 1's we did and in following posts I will list Level … (0 comments)
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probate system: To WORK PROBATES, You need to know about the I.A.E.A
- 05/26/15 03:38 AM
The I.A.E.A is the law which California enacted in 1987. For my purposes (Probate Real Estate Investing) it is providing the opportunity to bypass all the red tape and handcuffs investors and buyers had to deal with when pursuing a probate home. This act allowed us to by pass the court confirmation process, cut down the time to close, did away with the court appraisal, 90% rule and also the 10% deposit form the Buyer. As a Probate Agent this was the only reason I dived into this niche and it was a well kept secret until about 1998 when others … (0 comments)
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- 05/22/15 05:59 AM
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… (0 comments)
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probate system: If You're Looking For PROBATE REAL ESTATE LEADS -->
- 05/22/15 05:34 AM
6 Counties All Included.
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No Commitment! Stop when you want!
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… (0 comments)
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probate system: Next Time You Work a Probate, This is how Court Confirmations Work
- 05/11/15 03:53 AM
California Probate Real Estate has two ways to sell the estate property. The court confirmation process which has been around for many years which requires 10% deposits from the buyer, “As Is” purchases, 4-6 weeks just to be placed on the court calendar, the 90% rule which states the estate can’t sell the property for less than 90% of the court appraisal and also the sale must be confirmed in court by a judge with the possibility of others being able to bid for the property. No wonder most investors and real estate agents look down on probate sales. Why would any … (0 comments)
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probate system: KNOW THE FACTS about Probate Appraisals
- 05/07/15 01:55 AM
In California, as I mentioned there are two ways to sell real estate out of Probate.
As a Probate Agent in California you must know all the rules and regulations if you are going to represent a buyer or seller so you can make it to a successful close. This information is hard to find and I learned it all buy going to the School of Hard Knocks over the years (25+) and developing my system each time I sold or listed a probate.
Most of our fellow agents don't have a clue how Probate Real Estate works and even more so how … (0 comments)
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probate system: THE SECRET to 6 figures with Probate Real Estate
- 05/06/15 06:58 AM
Like: Home > Blogs > Gary DiGrazia, Sr. > Diamond Farming Probate Real Estate Systems Secrets to 6 Figures with Probate Real Estate By Gary DiGrazia, Sr. Real Estate Agent with EXP Realty Email Short URL Share on facebook Share on google_plusone_share Share on linkedin Share on pinterest_share Share on twitter More Sharing Services Share:July 15, 2014 06:30 AMI've spent more than half my real estate career probate focused. I'm in my early 60's now and am slowing down my lifestyle a little. Stopping to smell the roses if you will, and with that come an opportunity for you. Agent or … (1 comments)
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probate system: GET PAID just by assigning your Probate Contract
- 04/30/15 06:56 AM
Probate Real Estate is a unique niche I have been focused on for 25 of my 40 years as a real estate agent in Northern California (Alameda County).
As a Probate Agent I have represented both investors and end user buyers wanting to purchase wholesale probates and also representing estates who wanted to receive high retail and not just offers from investors.
There is a science to both sides of this probate transaction you must know.
Up until about 2000, I was the only agent seriously working Probate Real Estate full time (as far as we … (0 comments)
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probate system: Best Kept Secret Market in Real Estate
- 04/15/15 03:33 AM
I'll show you a Real Estate Market that few people know about - a market where there are Hundreds of real estate properties (in each County) waiting to be Purchased, Listed or Sold!
A market where you can find willing sellers (Free Money) and wholesale buys of real estate that hasn't been exposed to the general public yet.
Gary DiGrazia Sr, Founder of the Diamond Farming probate real estate system &
Re/Max Hall of Fame Agent - shares his probate secrets of 25+ years that earns him 80% of his income, working an extra 5-10 hours per week with minimal competition and … (0 comments)
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probate system: How to find Wholesale Probate Deals
- 04/10/15 12:38 AM
In my Probate Real Estate Business of the last 25 years I have been often asked why would a Executor take a wholesale offer when they don't receive the money once escrow closes so what is the motivation. This is a great question and makes sense to ask so let's try to answer this based on my experience.
As I track weekly all new probate files which have been opened in my County(s), I always start my approach the same way. I contact the estate and ask if they will be selling the estate property. I have several answers which keep coming … (0 comments)
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probate system: WAIT!!! Did you just get paid 6% for a deal you DIDN'T DO? Yes, I Did
- 04/07/15 07:02 AM
So these days I'm all about saving time, delegating and still earning good.
What I have been doing lately on a few deals is I refer the entire probate home to my Investor who is a Broker and buys and sells 10+ homes per month. These are big players BUT the key is they are Brokers and if you grasp this in your business plus learn probate real estate so you have some inventory to do this and keep the entire fee then your business can soar.
Once I meet with an estate and evaluate what their need is, (Fast … (0 comments)
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probate system: How 3 Deals can come from 1 Probate Deal
- 04/05/15 01:14 AM
It's EASTER SUNDAY and I plan on being surrounded by my family, hide eggs for my grandchildren to hunt down and eat great food enjoying great people that matter most to me.
As I get myself ready for the day I began to run though my daily thoughts of graditude and I want you to know how grateful I am to have found the Probate Niche over 25 years ago. It is a niche in the real estate business that allows a normal real estate agent like me to earn a multiple 6 figure income working 20 to 25 hours a … (0 comments)
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probate system: PROBATE HOMES: Wholesale VS. Retail >> PLUS an Easter Special Bonus
- 04/04/15 03:50 AM
Most of my probate business today is representing investors who will offer All Cash, As Is, to the estates who have interest in moving quick, getting the house sold so they can liquidate what is usually the largest asset which then allows the probate to move through the process faster as there is now money to pay all creditors and the estate attorney.
I often am asked why would an estate sell wholesale and leave money on the table especially in a Sellers Market. This is a great question! First most who ask this question are agents … (2 comments)
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probate system: PROBATE. Click thru If You're Looking for a 6 Figure Niche
- 03/27/15 04:12 AM
Probate Agent
I have been a licensed real agent for 40 years and have enjoyed an above average income but what really made the difference in my income was when I started working with Probate Real Estate. This niche can take any real estate agent with the right tools and information to six figures per year.
It is common knowledge in the Real Estate industry that the average agent makes less than $30K per year in the business and 20% of the agents make 80% of the money. This is nothing new but for those in the 80% bracket who want … (2 comments)
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I have had many buyers (VA or FHA) in the past not be able to purchase a Probate Home because the old law (which is still around) requires a 10% deposit with the offer. Think about it. VA and FHA buyers make up probably 60% of the market in most areas. VA buyers are placing 0% down and FHA 3.5%. They have closing on average at the medium sales price in my area of $8000 to $10000 and barely have enough to cover. So here is the crazy part.
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