probate real estate: How Does The Probate Real Estate Court Confirmation Work
- 01/27/10 08:57 AM
Remember, my focus over the last 22+ years I have been doing Probate Real Estate both as an Investor and Probate Agent has been with using the I.A.E.A to take my probate deals out of the court confirmation process. This process (California) although full of red tape and many hoops to jump through is what most investors and agents know of in the Probate Investing world. So let's talk about it.
I assume you all understand under the old California Court Confirmation process there is a 10% deposit the buyer is required to place in escrow before the estate … (0 comments)
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probate real estate: Court Confirmation Sales-How Do You Find When and Where
- 01/26/10 03:29 PM
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 … (2 comments)
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probate real estate: GIVE ME YOUR PROBATE QUESTIONS
- 01/24/10 04:23 PM
PROBATE REAL ESTATE AGENTS.....TELL ME WHAT YOU WANT TO KNOW ABOUT BEING A PROBATE AGENT OR INVESTOR
Below is one of the articles which talked about what I do just before I spoke at the Las Vegas Real Estate Convention in 2005. It was a great 4 day event and I was able to meet many great people, listen to other system authors talk about what their niche was, learned about new tools for my business plus brought on 56 new DF Probate students to the club. I should do more of this but I have been just to busy in … (0 comments)
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probate real estate: Probate Real Estate Contacting the Estate Tips
- 01/24/10 04:49 AM
PROBATE REAL ESTATE SYSTEM...CONTACTING THE ESTATE
In my Probate Real Estate tracking system, I use a PC to write my agent "Letters of Inquiry" to the executors. I have a saved form letter, and I can direct the computer to insert the executor name, estate name, and property address into the form letter. In this way, I can produce many personalized letters each week without having to take the time to input names, addresses, and other information for each particular executor. Probate Agents this will cut down time so take note.
As of 2001, I now have a laptop, which … (0 comments)
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probate real estate: Probate Coaching-The Real Deal backed by 22+ Years of Probate Real Estate
- 01/22/10 09:13 AM
Probate Real Estate Investing and Probate Agent Training.....Since 1992
http://www.johntreed.com/Reedgururating.html
Check John Reeds "Guru" Rating page. He is the watchdog of this industry and has researched anyone who is anybody in this "RE Systems World" so buyer beware.
www.probate-realestate.com
As a "DF" student you will receive direct access to ME (not some hired hand) to help you learn the system, answer your questions and even work on one of your buy/sells. You will have my E-Mail, Fax and direct phone number to post your questions as you learn or become involved with a probate purchase. For those in a purchase … (0 comments)
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probate real estate: Probate Real Estate Investing-Probate Tracking Sheet Part 2
- 01/22/10 06:59 AM
Probate Tracking Sheet...Where we find and keep all our Probate Real Estate pertinent information.. (Continued)...
•1. 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 … (0 comments)
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probate real estate: Probate Real Estate Investing Research Tracking Sheet
- 01/20/10 11:11 AM
•1. RESEARCHING THE FILE (Calif. Court Houses)
In each probate file, you will find a variety of forms pertaining to the probate 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 … (0 comments)
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probate real estate: HOW TO FIND PROBATE PROPERTIES IF YOUR COURT HOUSE IS NOT ONLINE FOR NOTICES
- 01/19/10 11:53 AM
HOW TO FIND PROBATE PROPERTIES
When I first started tracking probates, I targeted an area, which included 4 cities, about 8 square miles, and a population of about 400,000. I had been selling properties in this area for the previous 14 years, so I knew the prices. I advise you to start in an area you know; otherwise, on top of working this new system, you will also have to educate yourself on the property values in order to determine the right prices to pay for your client. Stay in your area of expertise to start.
You will have two choices … (1 comments)
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probate real estate: What is the Independent Administration of Estates Act (I.A.E.A) in Probate RE
- 01/18/10 05:25 AM
"THE I.A.E.A" How It Changes the World of Probate Real Estate...
What the IAEA does in regard to our interest (probate real estate investing and sales) is allow the executor of the estate to sell the property with limited court supervision and approving the sale. This is so powerful for usProbate Agents! The executor can file with the court through their attorney a request for authorization to administer the estate under the IAEA. The Executor receives a document called the Letters of Testamentary (very important for title). These letters authorize the title company to allow the executor, who is not on … (2 comments)
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probate real estate: WHAT IS PROBATE AND HOW TO FIND PROBATE FILES
- 01/15/10 04:31 AM
The majority of real estate agents are under the impression probate real estate is a losing proposition. Now, I'm seeing more and more agents looking at probates harder these days, but the overall feeling is it's still second fiddle to Foreclosures & REO's. In today's market, Short-sales and REO's are back in the saddle but will soon pass. Probates stay constant! Probate Agents earn constant
Many Agents believe if they are lucky enough to find a probate under market and plan to make an offer, their client will have to place a 10% deposit and wait 6-8 weeks or … (0 comments)
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probate real estate: What is the Independent Administration of Estates Act
- 01/14/10 03:08 PM
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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probate real estate: How I Wrote "Diamond Farming" Probate Real Estate Investing Part 2
- 01/12/10 05:21 AM
So after I had spent about 3-4 years perfecting my Probate Real Estate system and running my deals through my attorney at the time, John Beck, I also did another step which proved very timely. I have a another friend, Jack Reed (John) who is a veteran real estate investor, author, coach and everything else rolled into one person. He has a real estate investment newsletter "Investor Monthly" which had a few thousand subscribers plus he had many books on everything which pertained to real estate investing. I also ran my probate flips through him as well for his review. … (4 comments)
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probate real estate: How I wrote my first Probate Real Estate book "Diamond Farming" back in 1992
- 01/10/10 02:04 AM
Well, I finished the final edit of my new book "Six Figure Probate Agent" and it will be going to the printers sometime in January. I'm excited with the responses I have received from my fellow Active Rain members who are waiting for it. My Goal is to spread the word on the opportunity Probate Real Estate offers and this is my first step...Active Rain Members. My firstbook "Diamond Farming" released in 1992 was an accident and I'm receiving questions on why I did this and do I market other courses with other Real Estate topics. First let me explain the writing of … (1 comments)
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probate real estate: Probate Real Estate Flipping in 2010
- 01/04/10 06:20 AM
I have been blogging about how agents can represent investors who want to purchase homes in the Probate Real Estate world at wholesale prices and selling probates to investors for rentals plus those end user buyers who just want a home and would be happy with a 5% discount or just no competition in purchasing. I also have been blogging on going after probate listings and how you do this step by step. This has all been geared towards being a Probate Agent as explained in my system.
What I haven't talked to much about is for those agents … (0 comments)
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probate real estate: Today 500+ Homes to My Probate Farm
- 01/02/10 10:39 AM
Ok, it's a new year and many of you have been taking advantage of the special pricing I'm giving for my existing manual ($99). For those of you who acted and did not want to wait for my new book "Six Figure Probate Agent" don't worry as everything is in the first book "Diamond Farming, Probate Real Estate". The difference is half the course is devoted to those investors who are not agents on how they can take advantage. The new book is just for Agents wanting to work all five levels of the probate opportunity. The point is even if you order the … (0 comments)
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probate real estate: Happy Probate Real Estate New Year
- 01/02/10 01:31 AM
I hope all of my fellow agents had a great 2009 although we know it was a challenging year to many of our fellow real estate and loan agents. The strong survive and if you are still in business you can pat yourself on the back and look forward to a better year in 2010. Yes, we still have the Ghost REO's lurking but it appears the Banks have learned their lessons and will liquidate slowly so not to hurt prices in neighborhoods. If you where lucky enough to hook up with a REO Bank or Asset Manager than most … (4 comments)
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probate real estate: Probate Appraisal "How to Change One"
- 12/28/09 12:28 PM
This has come up several times over my 20 year Probate Agent history and I have been successful each time just approaching this from a common sense focus an not taking "No" for an answer. So let me explain what happened and how I took some steps which allowed me to earn a big fee on this probate most would have dropped. This is an extreme example of Probate Real Estate deals so don't freak out.
My probate tracking system brought to me an estate (all heirs out of state) who wanted to sell the family home which happened to be … (2 comments)
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probate real estate: Probate Real Estate Office Training in 2010
- 12/23/09 05:31 AM
It's almost Christmas and I'm wrapping up my business for the year. This was an extremely busy Nov/Dec as I had 16 closings and with all the problems with lenders and appraisals it has been a challenge but one I smileat most days. I am very grateful for the business which has come my way during this down turn in the real estate market over the last 3 years. Yes, the business is very challenging in today's Real Estate World but where else can you earn this kind of money, choose when you want to get up in the morning, what … (0 comments)
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probate real estate: Probate Agent Survey
- 12/21/09 08:11 AM
I have been writing about my Probate Agent business for a few months now and the response has been outstanding. It seems many agents would like to know more about adding Probate Real Estate to their business plan for 2010. I have had many requests for more information and also many ordered my current probate investor course as it covers the agent opportunities as well. This is a large ticket system so I advise those who only want to take probate listings and make sales to buyers should wait for my new book which will be out in 2010. It is … (0 comments)
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probate real estate: Level 4 Probate Real Estate Income Opportunity for Agents
- 12/18/09 05:59 AM
Ok, so I walked you thru what I do when we receive a lead from an estate who is interested in selling. I try to purchase first, giving the estate an option to list it and see if we can obtain a higher offer, if not we close and flip. You don't have to do this if you are not interested in buying but you could just represent investors who want to flip or buy wholesale to hold. This is a great opportunity to find these properties if you know what you are doing and my system will teach you everything if you … (0 comments)
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Remember, my focus over the last 22+ years I have been doing Probate Real Estate both as an Investor and Probate Agent has been with using the I.A.E.A to take my probate deals out of the court confirmation process. This process (California) although full of red tape and many hoops to jump through is what most investors and agents know of in the Probate Investing world. So let's talk about it.
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