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PROBATE REAL ESTATE F.A.Q'S

By Gary DiGrazia, Sr.

Real Estate Agent with EXP Realty

August 07, 2012 10:07 AM

Frequently Asked Questions

1. Does the Diamond Farming system only work in California?
No! Since 1992 we have sold “DF” systems in just about every State in the Country along with Canada and the UK. “DF” is based on California Probate Law, which happens to be one of the hardest States to do this type of investing under. It is a matter of learning the “DF” system, then once you know what your doing, adjusting to your area's Probate procedure. Yes! It takes some effort but the profits are worth it! “DF” is much more than the State law, it's also how to negotiate with the Executor to get your price and also how to earn on probates where you can't purchase at your price.

2. Do I need to be a real estate agent to work “Diamond Farming”?
No! Being an Agent will allow you to earn on all 5 Levels of the “DF” system but as an Investor only you can earn on Level 1-2-4-5 and receive perks from agents for Level 3 referrals. I show Investors how to tie up the property and assign for cash if they can't receive their target “Level 5” discounted price. Agents I teach how to stay busy full time listing and selling the probates they can't purchase at the proper discount. This is the beauty of “DF”, 5 ways to earn on every probate where an Executor is interested in your proposal.

3. How does your system differ from Jim Banks Probate System?
First the price. I too checked out Jim Banks system in 1987 and found it a good place to begin but as an 11yr real estate agent/investor veteran at the time, knew most investors would not have a clue how to make it work. I worked at it, refined it, learned by mistakes and after 3-4 years developed a system which is based on actual field experience. This was the beginning of Diamond Farming. I had my attorney review my deals to make sure everything was legit. The “Diamond Farming” system sold today is the exact system I currently use everyday. I earn 80% of my yearly income buying/selling and listing probate properties not selling books and tapes.

4. Will “Diamond Farming” saturate the market and bring competition?
Just like everything else in life, a system is only as good as the person using it. Most people want to make money but don't have the will power, consistency and drive to stick with it. Most people are looking for the quick fix, get rich quick scheme. I found out a long time ago anything worthwhile demands a price and most people won't pay the price for success. If it doesn't work right away they are off to something else. If you are in the minority of people who will stick with something then “Diamond Farming” is your answer in Real Estate. That is why I went into Probate in the first place because I didn't want to do what everyone else was doing, chasing foreclosures and REO's. Probate investing the “Diamond Farming” way is not public knowledge. You must dig, track and search out the deals but knowing where and how to look separates you from everyone else waiting for the Court Confirmation hearing or lead from an attorney. Remember, I am usually the first one at the property, I rarely go to court for confirmation and I take the probate property out of the probate process bypassing the court and attorney. You need to know how to do this along with getting your price, dealing with heirs, etc. Again, most people won't pay the price and after trying a couple of probates and failing, they will kiss “Diamond Farming” off and go on to the next thing. That's OK with me but if you are one of my students, I want you to succeed and give you everything you need to know. Then it's up to you.

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