Diamond Farming Blog

Probate Real Estate-Working the Other Side of Wholesale 

8 Mar 2010, 11:36 pm

As a San Francisco Bay Area (East Bay) Probate Agent for the last 23 years I have been buying and selling Probate Real Estate as both an investor and agent.  In 1992 I released my "Diamond Farming" book Probate Real Estate Investing and course and have taught hundreds over the years and have students in just about every State in the Country along with Canada and the UK; how to purchase probate homes at wholesale prices and then flip for huge profits within 90 days.   For Agents I have taught many how to expand their yearly production working Probate Real Estate.

     I have been interviewed by most of the major newspapers and legal news in the Bay Area on what I do and also on radio talk shows around the Country.   John Reed who is the founder of "Investor Monthly" and a leader in the Real Estate Education field wrote a complete chapter about me in one of his best selling books "Deals Which Make Sense".   I have spoke around the Country at Real Estate Conventions on what I do and it has been amazing.

     This is not what this article is about.   This is about the other side of what I know about  wholesale buying of Probate Real Estate as an Investor and or representing investors and end user buyers in purchasing probate homes as a Probate Agent.  This is about how the same system I use to purchase probates at wholesale prices and how  I switch and help estates avoid the investors and wholesale buyers and find a end user buyer who is happy paying retail.  This is a win/win situation as well and has been a great niche as well as the wholesale side of probate investing.   To help an estate from the week the probate file is opened to the final distribution with the heirs receiving top dollar for the estate property, which means more net cash to each of the heirs is a very satisfying situation. 

     Yes, I have done very well with the investment side but as a Probate Agent the way I handle the estates is to educate them on the probate process, including what the property is worth retail and to an investor on a wholesale basis.  Once they understand this then it's their choice which way they want to go.  Why would they go wholesale you ask?  Good question, the reason is because in Probate Real Estatethere are other factors other than the most net dollars.  Some executors are away from home handling the estates affairs and want to return to their normal life. Others aren't receiving any money (just their fee) and it's more important to help finalize the probate process and distribute the money to the heirs so they can enhance or changed their lives.  Finally this is Free money folks and if you are receiving $150K it really doesn't matter that you might receive $175K if you wait longer and go through the retail process.  I just didn't make this theory up as I learned this dealing with over 300 estates over the last 20+ years.   If you listen to the estate and then give them options whatever the outcome is (wholesale or retail) will be the best way and you leave the closing with good will, references, commissions, profits or both and hopefully a new attorney to refer business to you.

     I pride myself in giving more value than the value I'm receiving and it has served me well over the last 35 years I have been in the real estate business with 23 of those as a Probate Agent.   I hope you investors and agents reading this can learn from it and and enhance your current business.  I am most excited now that I have moved into the probate coaching business for investors and agents and even executors who want this information....

Probate Real Estate Yearly Production 

7 Mar 2010, 3:23 pm

     I want to explain again what Probate Real Estate and being a Probate Agent can do for your yearly commissions and production.  The last several years have been very difficult in our real estate business and I have seen many long time friends of mine in the business close their doors.  Many of them actually changing their line of work while others just retired.  Especially hit hard where the new agents under 2 years in the business who where starting out and had to leave.  The strong survive and one thing I learned going through these market downturns was to go where the business is and not try to force my business plan which might have worked prior to 2007 but no longer was valid.  Probate Real Estate for both Investors or for agents wanting to be Probate Agents is a niche which can keep you going during these hard times.  Probates have kept my income in the six figure range while my regular real estate business production dropped over the last 3 years.  This may be something you want to check out regardless if you are an agent or investor or even a loan agent as there is plenty of business.

     I have coached this real estate niche for over 20 years to those who took the time to contact me and wanted to learn.  I did not market this but only have a website which is there if you find it.  The reason for this was I was too busy buying and selling probate homes as both an investor and agent.  So let's take a look at the math and see what this can do for you if you decide to look into this niche further.  Many of you contacted me and came aboard since I started blogging about what I do on Active Rain and it's a good feeling to be passing this information on.

     In my area the average price is around $300K across the board in the entry market I work in.  I have probates as high as $800K this year and as low as $35K but on average we are dealing with $300K.  Over the last 23 years I have averaged 12 to 15 probate transactions per year using all the Levels (5) of probate opportunity I work with.   So with just 12 transactions based on $300K per this will add $3.6 Million to my yearly production.  Also, I usually double end these myself (the correct way so no problems) and my average commission on these double ends is 4%.  Based on this I will generate about $144K in commissions from 1 escrow per month where I double end and if it was just representing one side I would still be over Six Figures and this is just with 1 Probate Real Estate transaction per month or 12 per year.  These numbers will place you close to Top producer status as per my title company executive service people a top producer in my area averages only 1.5 deals per month.  Can you believe this!   Working Probate Real Estate as a Probate Agent can bring you close to Top Producer status alone and this is not counting your regular business (general, foreclosures or REO's).   My probate business alone is on pace for 18-24 sides in 2010 and we also do flips, REO's and TS sales so you do the math.

    For Investors, our average Probate Flip brings us a min of $30K on average and we look to do 4 of these per year or 1 per quarter.  This profit we participate in with our investors does not include the real estate commission we receive going in and coming out.   Our Investors are thrilled because they just can't find anything else because of the competition on the MLS, at TS Sales and REO properties. 

    Probate Real Estate as either an Investor or Probate Agent can keep you going year round in and market as the sellers (estate) usually must sell to settle the estate and it's free money.  It doesn't really matter if they could have sold for $600K in 2006 but now it's worth only $400K because it's still money they didn't have before and can changed or enhance their lives now.  This is key and for those who will provide professional service and guide the estate with either a wholesale, quick "As Is" sale or take the property to the MLS for high retail will bring great commissions, profits or both not to mention a good service.

     If you care to chat about this give me a call as I love discussing probate real estate with anyone who is interested...

Probate Real Estate---Close of Escrow 

5 Mar 2010, 11:51 pm

    Probate Real Estate questions have been coming in so it appears my goal of exposing this opportunity is starting to take off.  Again, as a Probate Agent for the last 23 years I am now semi retiring and will be teaching and coaching more.  I welcome your questions regarding Probate Homes for Investors or Real Estate Agents and have even given a Active Rain Member special deal so check it out.  

     One of the questions which comes in often is from investors and agents who don't want to wait 4 months to close of deal with all the court red tape and procedures required.  First, if you go through the old court confirmation process which requires a court appraisal (joke!), a petition to the court to confirm the sale 6-8 weeks, plus the court overbid process (you can loose the deal there) then yes it will take you 3-4 months to close the deal. This is not the way to do Probate Investing so please make sure you understand.

    In California we have the I.A.E.A probate process which for real estate purposes allows us to take the estate home out of the court supervised probate process and close quick.  I usually write our purchases or if I'm representing an estate as the listing agent for 30 days and we can close.  With the craziness of the mortgage world today you might want to write 45 days but as far as Probate Real Estate is concerned we can close in 30 days or like one says: 31 Days to Probate Profits lol.  My point is as a Investor or Probate Agent you must understand the rules and how to make them work for your business.  I have been doing this for 23 years and I'm still amazed more aren't into this.

    What I will say is during the 90's I was pretty much doing this all by myself in my market area and now in the 2000's there are many more trying to break into this niche.  You can buy many books on probate these days but again I would check out who the author is and make sure they have done this for their living and just aren't book and tape marketeers.   I have seen books for $10 to $3000 and all I can say is I have students who have come to me after trying these other systems, mostly because of price ($10 Cheap) or some hyped up seminar they attended but if you have to be sold or just because it's the cheapest then you are really missing the boat.

    Probate Real Estate is a fantastic place for both investors and those who want to be Probate Agents.  I am more active this year then any of my previous 23 years working the Probate niche.   If you are an investor you are probably finding it very hard to land a good wholesale property on the MLS or direct to home owners as there just isn't much inventory and what is available sells in a week with multiple offers.  How can you compete with this if you are looking for a wholesale deal; you can't.  Real Estate agents working with FHA buyers who need closing help from the seller? Good Luck!.   I have had several of these buyers and it took us a year to get into a property in our area because inventory is low with multiple on everything including cash buyers.  

    One answer is to work Probate Homes as I have for many years.  No competition as many times I don't list the probate I just match my buyer to the estate and do the deal and receive a 4-6% commission.   The estate has the property sold without red tape and having to go through the listing process plus the buyer is able to buy a home and not compete with investors.  I can usually have closing paid for my buyers and make it a win/win for both sides.

     So, don't go under the impression it will take 3-4 months to close your deal if you aren't overbid in court but you need to understand the process and make it work for you.  I love to chat about Probate Real Estate so contact me by phone or email and let's discuss it....

Probate Real Estate---Assigning your Contract on Estate Homes 

3 Mar 2010, 2:26 am

     Probate Real Estate is a unique niche I have been doing for 23 of my 36 years as a real estate agents 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 you i was the only agent doing Probate Real Estate full time (as far as we know).  Today many more have joined the band wagon and I don't blame them as this is a golden opportunity for those who know what they are doing.  I don't mean agents who are order takers doing what the estate attorney tells them for a listing but for professional Probate Agents who make their living buying, selling probate homes.

     One of the ways we buy is in our name or assignees.  This allows us to tie of the probate property (keeps competition away) and once we know our numbers (fix up, inspections, real value, etc) we will then assign the contract to one of our investors or if we are not buying to flip then one of our end user buyers.  Many agents and investors have made comments that you cannot purchase "Your Name or Assignees" when buying a probate because the courts and estate attorney won't allow it.  This is somewhat true but I have taught my DF students and private coaching students how to make this work for them and I will give you a brief outline here.

     First when you purchase in your name or assignees you will have a clause which states at the end of the "due diligence" time-line (inspections and disclosures), the buyer who is going into title will be identified if it is different the the buyer on the offer to purchase.  We instruct the estates attorney not to petition the court for anything until we are ready to move forward with the actual buyer.  This may be me, one of my team members, one of our investors or a end user buyer in our buyers band.  Your Probate Real Estate success will be greatly enhanced if you understand this process.  We also only place a small deposit ($1000 or less) up front and state in our offer once the inspection and disclosure contingencies are removed (17 days) we will then increase our deposit to whatever works and which gives us a position of strength.  As a Probate Agent you want to make sure you are always in the right posture.  Not a "No Down" wannabe who has purchased a late night info course on buying with no cash but as a legit, professional who understands what he/she is doing.  This will help you when there is competition although the way we buy probate homes there is rarely any competition.  

     Once you assign the contract you can them have the estate attorney petition the court for the sale under the "I.A.E.A, and close in a few weeks.  I have done this procedure many times over the last 23 years in my lucrative Probate Investing business.   I hope this helps you and if you would care to chat just give me a call or shoot me an email.  GD

Probate Real Estate---Buying from the Petitioner 

1 Mar 2010, 2:31 am

    In Probate Real Estate, as an Investor or Probate Agent one of my main objectives is being the first one to approach the estate about buying the probate home.  This is critical for those of you who want to make this niche a consistent source of revenue.  If you are not the first your chances of buying this probate to flip for yourself or your investor or in making a sale as an Probate Agent and or taking a listing goes way down.   Bottom line....Be there the week the court file is opened.

    One of the questions I receive from my students over and over is why go the first week since the petitioners (who will be executors) are not approved by the court yet and they can't sell the property anyway.  Let me clear this up right away.  The petitioner CAN SELL the property the day you reach them.  Yes you have heard me right!  What they can't do is close the sale until they are approved as executor by the court.  This is important so make sure you understand what I'm saying.

    Regardless if i'm acting for myself as a principle, representing an investor or end user buyer I also try to tie of the probate property from the petitioner if possible.   Your Probate Real Estate Investing success will be enhanced if you can do this.  Even if you are just acting as a Probate Agent and trying to sell the property to your end user client or take a probate listing be the first one there.   I use a addendum when I buy for myself or client and I have a clause I use which states "The offer is subject to the petitioner being approved as the estates executor".   This is all you need in dealing with probate homes and beat your competition.  If the petitioner is approved as executor your offer is valid, if they aren't for some reason your offer is no good. 

     If you can grasp this concept it will aid you well.   I have purchased this way and even had my sale contested when a petitioner was pressured by a friend to sell it to him.  The agent representing this buyer who had already made an offer (low ball $20k less than mine) came back when he heard I had tied up the property and now wanted it.  Greed kept them from landing this probate property and once I had it tied up even though the petitioner couldn't legally close it with me he was bound unless he rescinded being the  executor.  The other agent tried every trick he could to blow my deal but even the estate attorney told them it's a binding sale UNLESS the petitioner is not approved.   He was, my deal was accepted and we closed.  3 months later we earned a $40K profit plus commissions.  SWEET!

     Probate Real Estate Investors and Probate Agents make sure you grasp this and if not give me a call and we can chat about it....

Probate Real Estate--Searching Past Records 

26 Feb 2010, 10:52 am

     I have a Probate Real Estate DF student who is in my One On One coaching program who I met at the court house yesterday and a interesting thing happened.  It made me think that many of my students may be doing this so I wanted to bring it to light and clear the air.  Regardless if you are a Probate Investor or Probate Agent this can help you with "Now" business and not spin your wheels so take note. 

     I was in the court house file room researching new probate files for the week when I heard this deep voice at the counter asking questions about probate files to the clerk.  As I turned I noticed it was my new probate coaching student.   We had missed each other for his live court session with me so I decided to do my research. I was listening to his questions as his voice is so deep and loud and he was asking about past files going back to last August 09 and how he can receive the file numbers.  He plan was to go back and start researching those files. I just let him ask all his questions and waited until he finished.  When he was done I called out his name and we connected. 

     I asked him why he was asking for records which where 6 months old and  he said so he could check to see if any of the properties might be ready to sell now.  I told him in Probate Real Estate the "Diamond Farming System" doesn't go back as it will just overload you as you try to move forward and keep on track for every new probate file with real estate.  I mentioned we are interested in "Now Business" and all these older files are in the limbo stage.  What I mean by this is if they haven't sold or been listed already the estate is probably not selling right now.  I also told him most of these older files have probably been approached by investors or agents this late in the process.  I mentioned to my student in Probate Real Estate regardless if you are a Investor or a new Probate Agent or bird dog you will have your hands full with the new files and at the time the file is open is the best time to reach out to the estate and see if they want to sell.  I also mentioned we track about 100 new properties per month so there is no need to go back for files.  I mentioned to my student the time to hit the back files is a minimum of 7 months to a year back.  This is when most probates will be completed and then those executors who did not sell might be entertaining to place the home on the market now that the probate process is finished.

    So bottom line, when you start this new probate investing business start with week one and move forward.  Every probate with real estate in it will be tracked regardless if you are doing a few cities or an entire County.  You will have plenty of files to work and remember after we send our marketing piece to every new estate, we follow up with a phone call.  100 new files in my County means 100 letters and 100 phone calls per month.  This will take some time.  If you are a seasoned investor or wanting to be a Probate Agent you will have to factor in the time to do all this with your regular business. 

     My system teaches a "Level 5 Probate Opportunity" where we deal with all the past probate cases who did not sell during the year the file was opened so don't worry about it now as you start the program.  I hope this is clear to those of you who are starting to look at probate homes but if not give me a call at my office and we can chat about it.

Probate Real Estate--Where to Find the Petitioner's Phone Number 

25 Feb 2010, 12:36 am

     In my Probate Real Estate business, my GaryDTeam at ReMax (Castro Valley, Ca) tracks every probate file opened each week which has Probate Real Estate.   As a Probate Agent I pride myself as being one of the top Probate Guy's around for the last 22+ years.  I don't sell book and tapes for a living; I buy and sell probate homes and if you really check all those out there with a probate system you will probably find most have done this maybe once if at all.  This is why I'm recommended by those who check systems and so called "Gurus".   It's your money so just beware.

     This is work, not some magic formula where estates are going to have their arms open for you to come and buyer the estate property and a great wholesale price or if you are a agent, just sign a listing.  Yes this can happen here and there but if you are serious about this business and want to do deals monthly you have to know what you are doing, have a business plan which has been tested and then a never give up attitude.  On the other hand for those who can do this real estate niche the rewards are very worthwhile.  I have enjoy many years of probate investing plus taking listings and making sales to end user buyers without much competition.

     In our Probate Real Estate research most of the time the petitioners (executor to be) will have his phone number listed but in a place you must know how to find.   This is such a great tool for us as after we send our marketing peace (basically to have the GaryDTeam branded) we follow up with a phone call within 3-5 days and this is when we start to build our relationship with the petitioner.  This will be early in the probate process and we must be the first one to contact the estate as our success rate to earn on the probate will be greatly enhance.  Knowing where the phone number is and knowing what to say to the estate is critical for your success as a Probate Investor or Probate Agent.   If not, you are spinning your wheels and I take this business very seriously.

     There are also many systems out there now (some of my own students are selling my system repacked lol) and anyone of them will help you find the probate court file where everything starts.  But this is just the tip of the iceberg.  You must know how to use the information to control the petitioner, estate heirs and attorney.  If not you are going to only find a few probates here and there.  There is a way to do this business which I have fined tuned over the years which enhances my success. In the early days (80's and 90's) I was receiving about 3 leads per month from the 100 probate new cases with real estate and I would usually turn one deal from these leads or 12 to 15 per year.  Now, my team grinds every lead not just for those who will sell wholesale to us but for sales to end users buyers (5% discount) and for listings on estates who want help on reaching a retail sell.  Who better than the guy and team who knows the probate laws and how to use them.   I have a title person on my team, escrow coordinator and attorney plus my agents all trained on what I do, how I do it and this is what separates those who have done maybe one probate flip to those who make a living at it.

     I love Probate Real Estate and I'm very excited my new book "Six Figure Probate Agent" is about to be released.  I don't sell these in stores only through my website so you will have to contact me if you are interested.  I'm giving back these days and hopefully will move into the educational end of Probate Real Estate Investing for Investors (Flipping) and also for agents who want another revenue source form Probates. 

     If you are interested call me at my office 510-728-2943 and let's kick it around some...

Another Example of Why Agents/Investors Should Look At Probate Real Estate 

24 Feb 2010, 11:34 am

     My Team (GaryDTeam) is on fire with Probate Real Estate and this year already we have been averaging 2 listings per month and also have done 2 purchase flips already and we are only in the new year about 7 weeks.  Ever since I have started treating Probates as a entire opportunity rather than just the flips I do my business has taken off again.  I suggest any of you who are interested in adding Probate Agent to your business plan really check this out.  We are on target for 24 probate sides this year along with probably 6 flips.  Keep in mind we sell  many of these probate homes our-self (Double end) and our probate flips so far $35K profit on one and we are in escrow with a $76K profit to us on the other.   Check this out.

     So for you agents here is a prime example of "Why Probate".  We took a listing in January from an estate we had been tracking and marketing too. We built the relationship as I teach in my course and moved forward. The estate wanted their price ($100K high) and after consulting with them this was way too much for this fixer so we decided to place it on the market with an agreement if it didn't sell in 30 days they would listen to our advice.  They agreed.  The listing was shown about 6 times during Jan/Feb but of course no offers.  We gave the estate feedback and now they have come to reality.   They called us this week and said drop the price from $296,500 to $200K.  Wow, a $96K price reduction but where this home should have been priced at.   Fixed up it's a $350K to $400k neighborhood, needs a ton of money and at $200K an investor will pick this up.  In fact our investor is writing it today at the $200K.   We will double end this (6%) and earn a nice $12K commission plus if our investor picks it up another $10,500+ on the resell.  The Investor should make $50K to $75K on this property although it takes the right buyer as it needs to be gutted.  This is what probate can do for you.

     Probate Real Estate is FANTASTIC.  I see more and more letters from agents and investors now at the petitioners home when we meet but these agents and investors are really missing the boat not understanding the best way to do this.  I'm taking the listings or making a sale for us or our investors so what is the difference. The difference is doing what the others aren't doing and my 22+ years of Probate Real Estate experience has paved the wave.  Also, my Probate Agent business provides me with a Six Figure Yearly Income and Yes from 2007 to present I have kept this pace although my other general real estate has been down. Probates and REO's have kept me going with above average income.  I am expecting possibly my best year ever in 2010 and I have been doing this for 36yrs.  

     Probates are key and I have been blogging about this for several months now. Many of you have taken advantage of my DF Probate Real Estate Investing system so welcome aboard.  My book "Six Figure Probate Agent" is about to be released and we are thinking about doing a E-Book so my students can download it faster than waiting for the mail.   I'm giving back, reduced the price and for you Investors who ask there is even a special discounted price for you who want to take advantage.

     I also love talking about Probate Investing so  give me a call at my ReMax Castro Valley office during the hours of 10am and 2pm most weekdays 510-728-2943 and we can chat about this and see where your experience (Investor or Agent or both) fits in the Probate Investing and Brokerage world....

Another Example of Why Agents/Investors Should Look At Probate Real Estate 

24 Feb 2010, 11:34 am

     My Team (GaryDTeam) is on fire with Probate Real Estate and this year already we have been averaging 2 listings per month and also have done 2 purchase flips already and we are only in the new year about 7 weeks.  Ever since I have started treating Probates as a entire opportunity rather than just the flips I do my business has taken off again.  I suggest any of you who are interested in adding Probate Agent to your business plan really check this out.  We are on target for 24 probate sides this year along with probably 6 flips.  Keep in mind we sell  many of these probate homes our-self (Double end) and our probate flips so far $35K profit on one and we are in escrow with a $76K profit to us on the other.   Check this out.

     So for you agents here is a prime example of "Why Probate".  We took a listing in January from an estate we had been tracking and marketing too. We built the relationship as I teach in my course and moved forward. The estate wanted their price ($100K high) and after consulting with them this was way too much for this fixer so we decided to place it on the market with an agreement if it didn't sell in 30 days they would listen to our advice.  They agreed.  The listing was showed about 6 times during Jan/Feb but of course no offers.  We gave the estate feedback and now they have come to reality.   They called us this week and said drop the price from $296,500 to $200K.  Wow, a $96K price reduction but where this home should have been priced at.   Fixed up it's a $350K to $400k neighborhood, needs a ton of money and at $200K an investor will pick this up.  In fact our investor is writing it today at the $200K.   We will double end this (6%) and earn a nice $12K commission plus if our investor picks it up another $10,500+ on the resell.  The Investor should make $50K to $75J on this property although it takes the right buyer as it needs to be gutted.  This is what probate can do for you.

     Probate Real Estate is FANTASTIC.  I see more and more letters from agents and investors now at the petitioners home when we meet but these agents and investors are really missing the boat not understanding the best way to do this.  I'm taking the listings or making a sale for us or our investors so what is the difference. The difference is doing what the others aren't doing and my 22+ years of Probate Real Estate experience has paved the wave.  Also, my Probate Agent business provides me with a Six Figure Yearly Income and Yes from 2007 to present I have kept this pace although my other general real estate has been down. Probates and REO's have kept me going with above average income.  I am expecting possibly my best year ever in 2010 and I have been doing this for 36yrs.  

     Probates are key and I have been blogging about this for several months now. Many of you have taken advantage of my DF Probate Real Estate Investing system so welcome aboard.  My book "Six Figure Probate Agent" is about to be released and we are thinking about doing a E-Book so my students can download it faster than waiting for the mail.   I'm giving back, reduced the price and for you Investors who ask there is even a special discounted price for you who want to take advantage.

     I also love talking about Probate Investing so  give me a call at my ReMax Castro Valley office during the hours of 10am and 2pm most weekdays 510-728-2943 and we can chat about this and see where your experience (Investor or Agent or both) fits in the Probate Investing and Brokerage world....

Probate Real Estate-Where to Find Notices To Administer the Estate 

17 Feb 2010, 5:57 pm

     Probate Real Estate investing as either for your own profits or as a Probate Agent representing investor or end user clients all starts with the "Notice to Administer the Estate".   This is the first notice from the Estate Attorney or the Petitioner that someone has opened a probate case and is making notice.  This filing is done over 3 different days to give notice to the general public and must be in a newspaper of general circulation.  You are going to have to know where these notices appear in your County in order for you to jump on the Probate Real Estate Band wagon and start earning some huge profits and or commissions.

     The first thing to do (if you are not a student of mine) is to contact your local and or County newspaper and ask where the legal notices appear and in what papers (could be a supplement).  The Notice to Administer the Estate will usually be in the same location you find the Notices of Default and Trustee Sales.   Check out your paper and find them as this is a must.  If you can't find any in your main newspaper check out the local legal newspaper (Inner City Express in my County) as they are in there as well.  Finally if all else fails contact your County Probate Court Clerks office as ask them where are the notices filed for the County.  You must be able to locate these notices.  This can all be done from the comfort of your home or office and most newspapers are online these days so no biggee!

      One of the main reasons I love Probate Real Estate is the fact it isn't easy to find the information we need to research and track probates in our County.  This keeps the quick buck artists and those who only concern is money out of my way.  Don't get me wrong I love money but doing the right thing, helping others and making sure I have given more value then received ranks higher to me than the actual money. It has served me well over the years as for over 22+ years now that I have been a Probate Agent buying and selling probate homes never once have I had a complaint over a closed deal.  I usually (90%) of the time receive letters of recommendation after I have closed either a wholesale purchase as an investor or represented the estate as their Probate Agent.  This is what keeps me going and it has still been a Six Figure yearly income boost to my earnings.  Awesome!  Probate Real Estate Investing to me is by far the best of any real estae niche I have been invovled with over my 36 years in the business.

    For those of you who want to become invovled in this niche also contact your probate court clerk and ask if the files are online now.  If so you can access your newspaper online for the Notices to Administer the Estate then go to the court house web site and pull the case numbers, do your research all from the comfort of your office.  This has made this busy a little more easy and I really don't prefer it this way but it's called progress and we will go with it.

     I love to discuss probate investing with my fellow agents, investors and those who are interested in learning this system though my course.  Look for my new book "Six Figure Probate Agent which about to release plus a series of Videos I'm doing to break down this Probate Real Estate Investing world even more.  You can also call me at my office M-F between 10am and 2pm PST 510-728-2943.....

Check my Probate Real Estate review at John T Reed's  "Real Estate Guru's Check List and Rating page.  John recommends very few and I'm honored I'm the only probate author/teacher he recommends...

http://www.johntreed.com     Go to his "Guru" Rating Page.

Probate Real Estate-Dealing With the Estate Attorney 

16 Feb 2010, 11:09 am

     In my Probate Real Estate business over the last 22 years one of the road blocks which come up often is dealing with the estates attorney.   As a Probate Agent using the I.A.E.A as much as possible I have been usually able to control the situation by positioning myself correctly.   You have to understand as either an investor or real estate agent coming into an existing probate in process, the attorney is just not going to do things your way to help you purchase at a wholesale price or earn a listing or sale.   There are some things you can do to increase your success rate and this is my focus today.   Probate Homes are a goldmine so don't look at this as a reason to not work with Probate Real Estate.

     First I take every potential probate as an opportunity to establish a new business relationship with an attorney for future business.  Yes, I'm going to control the deal but in a way which shows my professionalism in this niche and have the attorney at the end of this transaction consider me an agent to do business with in the future.  Remember, this is a six figure opportunity and every probate you come into contact with regardless if you earn from it or not is a chance to start the building blocks for future business with the attorney.

     What I do is once I have a offer signed by the petitioner/executor and as either an investor, probate agent or both, I have my title company deliver the package (offer, all support document, a letter of introduction with short bio on me and finally a one page letter on what we need for the attorney to do (time line) to have a successful close.  Your Probate Real Estate business will take giant steps ahead if you follow this procedure.  You won't win everytime as some attorneys will take offense to you trying to control the deal but if you do this right the attorney should see you as a true professional who knows what he/she is doing.  As a Probate Agent I want the attorney to understand I work in probate sales, take listings and also will cash the estate out if they prefer a quick sale.  The most important part of this package is the statement I include which says "If you have any questions on my offer which the estate has accepted, please list your disagreements in writing (per my offer terms) within 3 days and I will have my attorney (Mr X) contact you."

     What I have done here is informed the estates attorney he/she needs to review now and if any changes are suggested they must be in writing and back to me within 3 days.  I also state if he/she does have any contract changes I will have my attorney contact them immediately or they can talk now if he/she prefers but "Time is of the Essence".   This is powerful as now I have set the table with my position.  The attorney knows I'm not a wanna be who purchased some late night infomercial package on buying probates as I have the correct forms, language, and I'm represented by an estate attorney.  Most of the time any changes will be minor and we move right along with the escrow.  When there has been a road block I have my attorney call and it is usually cleared up and we move forward.  I have never had a probate offer at this point (petitioner/executor) signature turned down.   This will serve you well so try to understand this concept.

     You can have an estate attorney write a letter for you or make a phone call for a few hundred dollars and if you are acting as an investor in this probate flip you are going to make a minimum $25K so what is the problem on a few hundred dollars?  As a Probate Agent remember you will be earning from 4-6% commissions so again a few hundred dollars to smooth your clients offer makes perfect sense and has served me well over the years.  To find an estate attorney look for an attorney who does estates in their practice and if you can be referred by someone even better.  Explain to the attorney what you do as an Probate Agent and your needs.   A small retainer or pay as you go will be worked out when you find the right attorney.   Remember the attorney must understand your positing in dealing with Probate Real Estate Investing and what your needs are. I had to go through several after my first attorney retired but I have always been able to find the right one.

     This is a six figure opportunity done the "Diamond Farming" correct, professional way and I take pride in the way I have conducted my probate business over the years and I teach my probate real estate students the exact same techniques I use.  Call me if you care to discuss this any further as I'm always willing to take the time to talk about probate real estate investing an or being a probate agent. 

ReMax Castro Valley Valley510-728-2943   

Probate Real Esate-Flipping For Agents Continued 

12 Feb 2010, 4:47 pm

     My new book "Six Figure Probate Agent" is a condensed version of my first book released in 1992 which was title "Diamond Farming-Probate Real Estate".  I have added new techniques to the new book just for agents who want to take listings and make sales from a niche they are not even aware of.  Probate Sales are fascinating and can make you great profits.  My last blog I wrote about a small Probate Flip we just did and now I want to talk about a large one.

     I have an offer in (My Name or Assignees) on two homes, side by side, in a very desirable neighborhood in Oakland which the estate wants to sell.  The total package is worth on a resale of from $1.4 to $1.5 Million and our offer on the table is $1 Million.   We have some distance between the estate and our offer but I think we will come together around $1.1 Million.  There is probably $100K worth of work and updating but this could be high so if I'm right we should be into the probate around $1.2Mill when we go to sell and should have from $200K to $300K in gross profit.  of course there will be purchase and sale costs but in the end we should be looking at $150K net profit. The investor will take 8% for his money invested, prorated over 6 months which should be the timelne.  The remainder will be split between the investor and  a percentage for my team but let's look at what my potential is.

1. $20K to $22K going in as my purchase Probate Agent commission  O

2. $28K to $30K going out as my listing Probate Agent commission

=====================================

$48K to $52k in commissions

Plus I will receive 25% of the profit which should bring me another $25K+-.  So on this Probate Real Estate Flip my potential profit is from $73K to $77k with a total timeline of probably 4 months.  I place no money in the deal and control everything.  Probate Agents this is what probate real estate investing can bring you and my target is from 1 to 4 of these per year now that the market is good again for flipping in my area.  I live on the 30/30/25/15 rule so when I'm done with this latest Probate Flip I will have apprx. $25k to my living expense account (30%), 25K to my saving retirement account (30%), 25% of the money to my tax account and 15% to my emergency fund.   See how this works. With being a Probate Agent every Probate Flip I do adds to my living, retirement and emergency accounts.  If I would have done this years ago I would be in my Villa in Italy right now playing Texas Holdem and Riding Harley's. I do those things now in Alameda County (lol) but I think you understand my point.  Take a look at Probate Real Estate Investing as this is the mother lode if you understand the system, don't give up, and have a mentor to bounce things off as they come up. 

     My team is so much more active with Probate Homes in 2010 then I was back in the 90's as my concern then was to not work so much, earn more per deal, and spend time with the family.  Now I'm gearing everything towards retirement and passive income.   Check it out....Call me to discuss 510-728-2943.

Probate Real Estate Investing--Flipping for Agents 

12 Feb 2010, 12:57 am

     Ok, so most of my blogs have been for future Probate Agents who may be interested in adding probate listings and sales to their yearly production.  This alone can add Six Figures to your current commissions and doesn't really matter if you are a newbie agent right out the gate or a seasoned veteran like I was (13 yrs) when I started looking at Probate Sales and Investing.   If you are in California then what I have been blogging about is the exact procedure and for your agents and investors outside of California learn the California system then adjust to your State as California I'm told is the strictest State for Probate Investing.  Probate Real Estate is by far the best niche I have worked in over my 36 years in real estate sales and investing and I have done foreclosures, REO's, options, paper and nothing has compared to  Probate Real Estate.

     So let's talk about the investing side of this opportunity.  As I write this blog we are closing on a probate home we purchased 3 weeks ago for $32K in Oakland, California, did nothing to the property as far as fix up, placed in back on the MLS and had 6 "all cash" offers in a week.  We settled on a $71K close in 15 days.  So after a selling agent commission and some closing cost we are walking away with about $35K net.  Not bad for a months work.  Plus the Estate was very happy to dump the property, the buyer is elated to have an investment under $100,000 which will rent out for around $1200 per month.  So on their investment of $71K, plus some fix up work they will enjoy a great return (21%) per year plus the property after fix up will be worth $125K so another $25K in equity.  Many investors are doing this.  Yes, we could have fixed it and resold but the profit split with our investor wouldn't have been that much more each so we are happy.  Plus we received a commission going in and out.   $17,500 profit a $800 commission going in and a$1420 going out for a total of close to $20K.  All on investing around $32K plus are investor earned $17,500 on a investment of $32K. 

    Probate Real Estate brings these kind of returns and I have been doing this  for the last 22+ years.  My investors love it when I call and tell them we have another one.  I do all the research, contacting the estate, negotiating the deal then once in escrow I assign the deal to one of my investors.  Being a Probate Agent is a Six Figure opportunity I have been enjoying for years.  Yes, there is more competition today then there was back in the 90's but still nothing like Foreclosures and REO's.  We have opportunities almost monthly as a Probate Agent. I have kept this basically to myself over the years as only those who where connected to John Beck or heard about me from the articles John Reed wrote about me in his best selling investment books had the opportunity to purchase "Diamond Farming-Probate Real Estate". 

   You as an agent or investor have the opportunity now to learn my system and I have not left anything out.  This is my way of giving back. For those who have interest you will find a wonderful world of opportunity in your real estate business providing you have what it takes.  This is not a reward for nothing program here.  You have to invest some money, your time and be able to stick with it until you find your first probate listing, sale or Flip and then just repeat what you did.  

     I'm looking to semi retire in the next few years and I'm making this opportunity as affordable as can be.   I will talk to anyone about this opportunity as I'm usually at my office each weekday 10am to 2pm so give me a call 510-728-2943 and let's chat about where you are in your real estate business and how my Probate Real Estate Investing system can help.  My new book "Six Figure Probate Agent" will be out soon and I have began shooting my videos of each chapter for a future release which will be having me in your home or office explaining each chapter. 

      In my next blog this week I will continue writing about a new probate investment (2 homes) in a up scale area of Oakland which we are buying for $1 Million with a upside of $1.5 Million.  My investor is buying all cash and my commission  will be around $50K plus I should receive another $25 of the profit as there are more than 2 in this deal.  $75K upside for me.  Have I your attention yet.....Call me and ask about the try it first program I'm now offering.  G

Probate Real Estate----Commissions 

10 Feb 2010, 2:54 am

     Many of the emails I have received about Probate Real Estate has been about the commissions being reduced in court and with all the extra work many of you don't want to consider being a Probate Agent as it just doesn't makes sense. Why should you work on a a Probate Home sale if your commission is going to be reduced?

     First of all YOU ARE THINKING WRONG and clearly haven't really grasped what I have been blogging about on Active Rain.  Well at least you California agents and investors as you don't have to worry about your commission being reduced under the I.A.E.A Probate process only under the old probate court confirmation sale.   Yes! our focus is always to take a listing or make a sale under the I.A.E.A.  I have written blogs about you controlling the sale and directing the estates attorney on how you are going to handle the sale with the court.  If you don't understand this go back and read my blogs again as this is important and you are missing out on a Six Figure opportunity.

     Most probate sales (investor or probate agent) can go under the I.A.E.A and when you make your offer to the estate you place a clause stating "Sale is subject to the estate going through the I.A.E.A without court confirmation of sale".  If the estate has a will or no will doesn't matter as you can petition the court for the I.A.E.A process.  In Probate Real Estate the executor can petition the court for the sale to be conducted under the I.A.E.A and when you take a listing or make a sale under this law your commissions are whatever you and the executor decide.  Please  understand Probate Agents receive the same commission as you do on your regular sales. 

     The only time you may receive less a commission is if the sale is being held under the old court confirmation process.  When a listing is taken and the old court process with confirmation of sale is being used, the court  may elect what your commission will be in the listing and this could be less than the full 6 percent.  Also, if you overbid in court and the sale which was going to court did not have a listing or selling agent then your commission will be based on a mathematical formula and is the only time you may work at a reduced commission.  Bottom line is work the I.A.E.A process not the court confirmation process but if you must be happy with the commission.  Again this is a Six Figure opportunity.

     Probate Real Estate has been my main focus for over 22 years and I'm proud to be considered one of the top Probate Agents in my County plus a national known author and speaker on the Probate Real Estate Investing opportunity.   I have many investors from around the country who have followed my system and teaching for years and now many more Probate Agents are joining the club.   I highly recommend you take a serious look as it has been better than foreclosures and REO's as the market doesn't control them.

     Call me at my ReMax Castro Valley office 510-728-2943 if care to chat more about this.  I always love to chat about my probate system and how it can help those interested.

California Probate Real Estate-The Old Myths 

8 Feb 2010, 10:03 am

     I have been receiving emails from potential Probate Agents and Probate Real EstateInvestors asking about why the old probate process of selling the estate property is still active.  Since the I.A.E.A (Independent Administration of Estate Act) was enacted in 1987 many of you are asking why we still have the old system as well. This is a great question so let's dive into.

     Of course this is just my opinion but in today's real estate world (2010) we still have estates who are going through the old court confirmation process when selling the estate property.  Why is this?  Why would the estate want to handcuff their sale by making any interested buyer have to jump through so many hoops to purchase the estate home.  It just doesn't make any sense.   What this has done in our current real estate world is chased about 75% of the buyers away from buying an estate home and leaving the majority of the buyers investors looking for a wholesale purchase. 

     FIrst let's look at the old process and what a buyer has to do when making an offer on a probate home going to court.  This process is very frustrating and makes no sense.  If a sale is going to go through the old court confirmation process when the estate decides to sell the Probate Real Estate the buyer has to.....

1. Place a 10% deposit (of sales price) up front just to submit their offer.  So as an Investor I'm making an offer on a $300K probate home I have to place $30K upfront with my offer so this will limit how many offers I can make and goes against what investors do.   As a end user buyer (moving in) I am buying with a FHA loan and the down is 3.5 % so just to make an offer this 10% deposit is more than I will need to close and probably more than I have cash available so I will bypass this probate home.  If you are a probate agent you sure don't want to waste your time so when you have a FHA or VA buyer or 5% conventional buyer you will just not show this house.   Bottom line the estate is hurt by their buyers pool loosing about 75% of the buyers out there.  No wonder Probate Real Estate hasn't been a featured niche over the years.

2. Wait 6-8 weeks for the sale confirmation to be placed on the court calendar....   If as an investor or end user buyer I have the 10% available and make the offer I now have to wait from 6 to 8 weeks for my sale to be placed on the court calendar to be approved.  This is a another step we don't have to do in normal real estate and another reason so few really look at Probate Investing.  Also during this 6-8 week period we will have to spend money on inspections and our loan to make sure we can do what we say in our offer but there is no guarantee the court will approve our sale or that we don't loose it in court.

3. The 90% Appraisal Rule will apply with this court confirmation sale:.... with court confirmation sales the court will require an appraisal (not by a certified appraiser but usually CPA) and whatever the appraisal comes in at the estate will not be able to sell for less than 90% of this appraisal.  The problem here is the appraisals are usually high and even with the 10% discount the price is usually retail.  This alone will prevent most investors from wanting to make an offer on the Probate Real Estate.   For us Probate Agents out there we are selling probate homes "As Is" and if the sales price is retail and the property is a fixer or needs foundation work it will hurt our offer once inspections come in and we have wasted time and money. Yes we can have the appraisal changed but it is like an Act of Congress to do.  Most Probate Agents will just bypass these homes because the price isn't right for the condition and the 90% rule handcuffs our sale.  This can't be good for the Estate either as it again limits the interest in the Probate Real Estate.

I will continue this in another blog and now you can see why the old confirmation process kept most of us away (investors, end user buyers and agents).   There is a better way and the reason I jumped I have been working Probate Real Estate Investing for the last 22 years.  Call me at my ReMax Castro Valley office anytime M-F (10am to 2pm PST) 510-728-2943 if you want to chat about this more....

Probate Real Estate--Profit Example 

5 Feb 2010, 7:59 pm

     Many of you have been taking advantage of my special offering for my Probate Real Estate Investing manual at the discounted price and I am thrilled so many have an interest in at least looking at being a Probate Agent.  This may not be for everyone but since we are in the real estate business and this is another avenue to produce income then why not?  

     I have been asked for more examples on how I earn so let's dive into this some more.  First, during the 90's my primary focus was to earn a minimum $10K to $15K per side so I could cut down my work hours.  Average commissions where $4500 per side so I want to earn about 3 times this per deal so I could cut my time down from 60+ hours per week to 20.  The reason for this was I wanted my time back so I could enjoy my family especially with my kids entering their teenage years.  This was my entire purpose which led me to Probate Real Estate.

     Once my search for this vehicle led me to Probate Homes and I completed my first flip earning around $20K for my side I soon realized I had found something.   Yes, there was a period before my first flip that I started thinking this wasn't going to work but I stood with it and promised myself I would do at least one flip then decide.  Will after earning $20K and learning all the things I did wrong in approaching and working with the estate I decided to perfect this even more and start doing more deals No one and I mean none of my peers (real estate agents and investors) where even remotely interested in Probate Real Estate Investing or adding Probate Agent to their business plan.  Even after I was getting a name as the probate guy did any agents even ask me what I was doing.  They basically had blinders on doing the same things agents before them have done and handed down. 

     So here it is again.  I follow all the probate files at my courthouse each week and select the ones which have real estate.  I approach the heirs asking if they have an interest to sell "as is", quick close" and for all cash (you know what all cash means right? if not call me).   I meet those petitioner/executors who have an interest and I go throw my procedure to come up with a wholesale number I can buy the probate and then flip it and earn myself a profit of at least ($25K these days) per probate.   On those where I can't receive the wholesale price I need to buy/flip I try to bring a retail buyer in and earn a 4-6% commission.  I have a 21 day period to do this if I can't buy and it has been working like a charm for over 22yrs. If I find a buyer or have a buyer and my average price range is $350K then I just earned anywhere from $12k to $15K just doing this deal as an Probate Agent.  No competition from other agents or buyers! If I can't find a buyer during my 21 days grace period I pitch for the listing and I usually receive it because I have learned this is not about sales or selling but about relationships and I treat people right.  I always look to give them more value than what they are giving me.  If I can earn the estate more money because I have a buyer at the time who is willing to pay more for the property I will do it and not buy to flip.  I give all the options to the estate.  if I just end up with the listing I still earn a 2-3% commission or $7K to $12K representing the estate.  Again no other agents or investors usually know the property is available. Wow!

     In California we have a court confirmation sale proces for Probate Real Estate which is going through the old sale process and we check these sales weekly for sleepers where we can go in and bid for our client and earn 3-6% commission.  Again, not on the MLS and most of the time no one knows but the heirs and original buyer.  If you can see a value of the way I work as a Probate Agent you should check this out.

     During the 90's I averaged from 10-15 probate real estate transaction per year but I was only working on the leads which came from my marketing piece.  This was about 3 out of 100 which when out and I would usually average 1-1.5 deals from those leads.  Today in 2010 with my GaryDTeam we are also going after the other 97 who did not respond as my tracking tells me 50% of them will sell over the next year.  This is a great concept if you understand farming.  We are looking for 24 probate transactions in 2010 and 4 flips.  Being a Probate Agent is a Six Figure opportunity and I hope this information helps you take a look.  The best part is this takes about 5 hours per week in addition to my regular business.

     If you care to chat about this call my office ReMax In Motion Castro Valley 510-728-2943.  Gary DiGrazia Sr

Probate Real Estate-Working WIth Estate Attorneys 

4 Feb 2010, 9:36 am

     For the past 22 years one of the biggest hurdles I had to work out was having my offer approved by the estates attorney.  My Probate Real Estate success was not going to happen if I could not figure out how to work with the estate attorney as 90% of the time the petitioner/executor is going to want the estate attorney to review the offer before they sign.  As a Probate Agent representing buyers or as an investor buying on your own you need to understand how to do this.

     Once I sit down with the petitioner/executor to go over numbers and my offer I have a set order of how I present things.  You just can't throw a number out.  I go thru the comps and make sure they understand what the neighborhood sellers have been netting from the most recent sales.  This is important as it's not sales price it is net we want to work with.  You will have estates thinking they can sell for high retail without paying a agent, or at least not a listing agent.  We all know buyers usually won't pay full retail for a property if they know the seller isn't paying a commission to an agent.  Most buyers won't purchase without an agent anyway these days due to so many issues.  So first we break down the sale price to what real sellers in the estates subject neighborhood have been realizing in net proceeds. 

     Probate Real Estate sales is really no different than trying to purchase any property.  The seller has a price (usually high) and the buyer wants it as low as possible. Understanding this concept isn't difficult but making sure the estate understands what a fair price is based on the property condition, market conditions and other factors is. If you are an investor or Probate Agent you will need to master this when sitting down with the estate. Any agent in the business 3 years or more should have this working knowledge so no worries.  If not it can be learned.

     So let's skip ahead here.  I have done my routine and presented my offer to the petitioner/executor. He/she feels my price is close to what they will accept (I do this as part of my two step pricing) so I'm pushing for a signature.  Understand the way I do my buying, it doesn't matter if the petitioner has been approved to be executor yet and this has helped me purchase probate homes very early in the process and is key in this real estate niche.  I am usually contacting the estate the week the probate file is open and many times the petitioner/executor will be curious about my offer but won't understand they can actually sell the property yet. I show them how they can.

     So finally once I'm pushing for the signature I will usually hear "I want to run this by my attorney before I sign".   Now let me tell you if this is the way this goes you will loose your purchases (wholesale anyway) most of the time.  You have to take control of this situation and if so you will find success within this fantastic business of  Probate Real Estate Investing either as an investor or probate agent.  I have learned how to handle this over the years by loosing deals so please take the time to understand what I do.

    So at this point what I explain to the estate is the attorney won't approve anything for the estate in regards to selling the property so it's very important we show their attorney you want this offer.  I explain that I will place a condition in the offer that this sale will be "Subject Too the Estates Attorney" disapproval, in writing within 3 days from petitioner/executor signing".  What this will do is save your deal as the attorney won't approve or disapprove.  The petitioner/executor will feel good about the attorney looking at the deal and I can usually obtain a signature. 

    This is usually done on a Friday night if possible as the attorney won't be available over the weekend and then on Monday I have my title company deliver the signed offer, with my  escrow officers letter and phone follow up along with my cover letter explaining what I need the attorney to do.  This works folks!  You must take charge in Probate Real Estate either as an investor or probate agent!

     Call me at my ReMax Castro Valley office 510-728-2943 if you care to chat further about this..I always have time to chat...Gary DiGrazia Sr

Probate Real Estate--My Retirement 

3 Feb 2010, 2:39 pm

     As many of you who have been reading my blogs know, this is my 36th year in the Real Estate business and 22nd year in Probate Real Estate.   As a Probate Agent, the last 22yrs have been the most enjoyable.  I have learned a niche most don't know about and it has kept me earning Six Figures for many years.  It has been my passion as not only the great earning opportunity was there but also the satisfaction of helping a family who just lost a loved one maneuver through this crazy thing called probate.  I am grateful for the opportunity Probate Real Estate has given me to help others.  I truly mean helping others not ripping off.  I live my life by good Karma and the only way to do this is to give more value to others than you are receiving and you will benefit. 

     As I wind down my general RE business I have decided to go into full time teaching and help as many real estate agents and investors understand the opportunity and how they can learn this niche.  I wish I had someone like me when I started as it was several years of learning by doing and missed opportunities but I'm grateful I learnrd this niche no matter how tough it was. 

     I have made my system available to Active Rain members with a special promotion and many of you are taking advantage.  I'm not sure how long I will be doing this but it appears this is helping more of you take a look at Probate Real Estate and in particular Flipping for Investors or adding "Probate Agent" to your current real estate business.  I am hoping this is my last full time year in general sales as my assistant who is truly gifted will be in line to take over the every day tasks.   This will allow me to spend more time with my DF students.   This is a Six Figure Opportunity and I hope you take advantage or at least give it a look.  You don't have to be a Probate Agent to make this work as my "Level 1" Probate Investing" opp is for investors to flip or agents who want to also invest for bigger profits.

     For those of you who dive into this niche I highly recommend you take your profits and place some away for your retirement (passive income).  This way when you earn a $15K or $30k profit you will be able to do something with it rather than live better right now!  I live by the 30/30/25/15 rule which I recommend you look at.  30% of what I earn goes to everyday living expenses, 30 percent goes into my long term investing fund, 25% goes for taxes and 15% goes in to our emergency fund.   This way every time I'm paid I'm doing something with the money.  Took many years to understand this so give it a hard look.

     My typical profits in flipping probate real estate average around $25K per deal with a combination of profit and commission I earned from each deal.  You can see that even 30% of this number gave me $7500 towards my everyday living expenses so it was a very workable number.  More important $7500 went into my retirement fund.  True wealth to me is passive income and I'm close to the number I need to be able to live off the money rather than have to buy another house or invest in a business to generate capital.   The day is close when my monthly expenses will be taken care of by my passive income and then I know longer have to get up at 10am each morning.  lol, did I say 10am.  Yes! my schedule these days is office from 10am and I work till about 6pm then hit the gym with the wife.   Wasn't always like this but Probate Real Estate and being a Probate Agent really gave me a much better schedule then general real estate every did since I had to be on call basically 24/7.

     I highly recommend you take a very strong look at Probate Real Estate Investing as either an investor or agent and then compare and make your decision if this is something for you.  I'm available any week day morning 10am till 2pm for calls about this opp.  Gary DiGrazia Sr 510-728-2943..ReMax Castro Valley.

Probate Real Estate-Be Careful Overbidding in Court! 

1 Feb 2010, 8:36 pm

     I have blog this past week on how to overbid at the court house when a probate homeis going to court for confirmation of sale.  Not really to big a deal once you know the math and actually go through one sale.  Standing up there with your client in front of the judge and court room attendees can be a little intimidating but keep in mind the profit potential.  Probate Agents can make a steady income just working the court confirmation sales but you must know the rules so you keep your client and yourself out of trouble.  Probate Real Estate sales is a great niche for those who know what they are doing so let's discuss some of these caveats.

     First, understand when you bid at a probate court confirmation sale for either yourself or your client this is a "As Is" purchase without any contingencies.  You client will place a 10% deposit based on the sales price going to court so make sure you all understand the risk.  You will not have a contingency for inspections, appraisal or loan and there is no "due diligence" period to check things out.  You have to do all these prior to making your court overbid.  If not the court will take your clients deposit which is considerable and you will have some explaining and possible liability.

     Now all you future probate agents do not fear, this niche in probate real estate is not difficult to learn and remember I had to learn all this on my own as I did not have someone like me with years of experience to learn from.  I learned by doing and it was scary on some deals.  Probate real estate investing or sales is a Six Figure yearly opportunity but again you need to know what you are doing.

     First while you are checking out the house after deciding it is one to go after have your contractor inspect for pest, roof and foundation issues.  Check out the inside if you must by calling the attorney for access but remember to let them know your disinterest after you inspect.  I call my lender and run by my numbers to his appraiser although this is harder these days with the pool appraisals.  This will let us know that with 25% down, at our price there is no issues on the value being there.  I have the loan (if any) pre-approved just as you agents would do in your regular business.  Now before I step into court to bid for my investor, myself or my client (end user) I know there is really no chance of anything going wrong if I win the bid. 

     This again was all learned from the school of hard knocks doing this probate real estate investing in the trenches.  As a probate agentas well, I do the same due diligence for my buyers so they are not in jeopardy of their 10% deposit if something where to go wrong after gaining the overbid.  This is just common sense real estate but bottom line we are selling probate homes without a net.  You must be a pro and know what you are doing but if Six Figures sounds good just from probate sales, this is your chance.

     For the past 22+ years Probate Real Esate has been very good to me.  I love being considered the probate agent to talk to about this niche and haven't slowed down.  If fact I'm doing much more activity in probate real estate today then I have in the entire 22 years as I'm not just looking for probate flipsbut also sales and listings.  Before I retire I'm going to pass this knowledge on to as many would be, new   Probate Agents who want the training.  Call me at my ReMax Castro Valley office 510-728-2943 if you care to chat more....Gary DiGrazia Sr

CALIFORNIA PROBATE REAL ESTATE FOR INVESTORS AND OR AGENTS 

1 Feb 2010, 9:23 am

California Probate

In dealing with probate real estate in California over the last 20 years, I often have questions from my DF Probate students on how the California Probate process is different from any other State.  As either a Probate Investor or Probate Agent just learn the California system and you can work this in any State.

First, California has probably the strictest probate procedure to buy a piece of real estate than any other State in the Country. What I teach my out of California students is to first learn the California process my Diamond Farming Probate Investing system is based on, then once you know the procedures, it will be an easy task comparing your State's probate process to California's. Once you see the difference you can adjust and starting earning from probates. Of course not everyone has the patience to take the time to learn a system which may not apply to them and then the time to adjust and make it work for where you work.

My answer to those who think like this is , pass on Probate Investing and move on to the next golden goose system which are all over the internet. If one cannot or won't devote the time to learn what it takes to earn $25K to $50K each time you do a probate flip, then save your money on any system and continue to look for that pie in the sky magic pill. I don't want to be rude here but there was no one around when I was in the probate trenches learning by doing and losing thousands on probates where I wasn't good enough to close on. All I had was a probate book by the one and only guy at the time (since retired) who pointed me in the right direction on what the I.A.E.A was and meant, where the probate files where kept, and how to contact the estate. The problem came once I had a lead what was I too do as far as the court procedures where concerned, and being a 13 year real estate agent investor at that time, I knew the average guy without this experience would never make this work. I saw opportunity and set out to find a system which would provide consistent income from buying and selling probates. I spent almost 2 years learning and experimenting with California Probates before my first success but I didn't stop.

So, if I was able to find success this way, then why couldn't those interested in this real estate niche do the same, especially when there is a probate flipping expert out there who can help you. I wish I would have had someone with my experience to draw from when I started flipping probates. It would have brought success to me much sooner plus give me the confidence that I knew where to go when I came across of problem.

In California Probate, homes are sold either through the court confirmation process (old school) or through the Independent Administration of Estate's Act (1987) which allows the process to be streamlined. If your flipping or want a true wholesale purchase than you need to use the I.A.E.A. The problem is most estate attorneys will want the sale to go through the court supervised system and approval since in my opinion it will keep any liability off the attorney.

You need to know your State's probate real estate sale process so if you're going to jump into this niche, start with learning everything you can on the this process in your area. Talk with the court probate clerk and ask if there is a probate package you can access which explains the process. Talk with a Para-legal who does estates and pick their brain. Last but not least buy some time with an estate attorney and find out the process. Once you know the process you can determine how to put a plan of action together.

California probate as either an Investor or Agent just looking for more commissions as a Probate Agent is what I teach my DF to learn and for those DF students out of State we help them adjust. You may be in a State similar to California (I doubt it) or in a State which doesn't really have any probate procedure for selling the real estate and you only need to be the first one there.

It is certainly worth the effort as the profits we earn average around 10-15% net of the purchase price you pay for the probate property. For my students who work under the California Probate system, it's a piece of cake to learn the system as I have done all the homework for you. For those out of California, I have bulletin boards and my one on one mentoring to assist them adjust to their area. Thank outside the box folks.

For you Active Rain Real Estate members this is a Six Figure opportunity and I hope all these articles I have been writing will help you check out Probate Real Estate and how you can add Probate Agent to you current business.   Call me, Gary DiGrazia Sr at my ReMax Castro Valley office 510-728-2943 if you care to chat about this

Probate Real Estate-Court Confirmation Sales Continued 

29 Jan 2010, 2:01 pm

     Ok so we are in court at a Probate Real Estate confirmation sale.  First when you arrive check the court calendar sheet for cases which will be on the calendar that day.  They are usually posted on the court room's entrance door or bulletin board.  Check to see your probate case is on and hasn't been postponed.  This will save you from sitting in the court room for several hours waiting for your case to be called.  If you are acting as a Probate Agent representing a client you don't want them to take the time to meet you at court and then find out it was a waste of time.   Check it out!

     The cases will be called one by one so you might have to sit an hour or two until the  probate confirmation  sale is called.   Just be patient and if you have clients with you prepare them.  Also make sure you have the 10% deposit bank check with you or you won't be allowed to bid.   The 10% is based on the opening bid amount so if the opening is $305k then have $30,500 with you in the estates name.  If you have to bid up the price it doesn't matter but to bid you will need the original 10% deposit.

     Once your probate case of interest is called the probate referee will do some due diligence to make sure everything is in order with the probate process before announcing the sale.  When he/she announces the sale, price and terms he/she will then ask for any interested buyers to come up front.  There will be tables up front and you will take your client if you have one and walk up.  There will usually be the original bidder there but many times this original buyer does not show up.  This just means there offer which has been in process for the last 6-8 weeks is there final offer and they are not interested in bidding any higher.  It doesn't matter as once the bidding starts they receive no other privileges other than not having to have a deposit with them because their 10% has already been placed when there offer was accepted by the estate.  Probate Real Estate court confirmation sales demand the buyer place 10% up front before the court can be petitioned to hear the sale and confirm.  If you are acting as a Probate Agent only for you client you must make sure they understand the deposit and have it made out to the Estate of the Deceased.

     The court referee will explain the bidding process to all interested bidders and then ask the estates attorney to qualify each bidder; meaning check to see they have the required 10% deposit.  Once this is done the court referee will explain the bidding increments ($500, $1000, $2000 or whatever) which means each time a bid is made the next must be a minimum overbid.  The bidding will continue until there is only one bidder left.  The court will announce the last bid 3 times then it is sold.  As a Investor or Probate Agent there will be a remaining step to do before you leave.  Very important.  This again is just one 'level (4)' of probate investing opportunities but you can find some great buys in court once in a while and for you Probate Agents you can make sales on a weekly basis to your end user clients.

     Once you are awarded the property make sure to ask the estate attorney for a certified copy of the confirmation of sale.  This will be needed for title and for your lender and if you don't obtain a copy at the sale you will have to wait several weeks as it makes its way around the court process back to you.  This is important so make sure.

     Finally there are some other issues you must understand about buying Probate Homes at the court confirmation sale as it could cost you or your client their 10% deposit if you don't understand.  I will speak about this in my next blog.   Just keep in mind the court confirmation sales is just one of the 5 levels of probate real estate opportunities in my system.   This is a Six Figure+ Opportunity for real estate agents or investors so I hope you take advantage.  95% of the time we are buying probates out of court but "Level 4" is in court.

Remember I'm always available to chat with you about this opportunity so call, Gary DiGrazia Sr at my ReMax Castro Valley office 510-728-2943.

Probate Real Estate Court Overbidding Process Continue 

28 Jan 2010, 11:44 am

     I want to continue on overbidding at court for Probate Real Estate either as an investor or a new or veteran Probate Agent and what you need to know to help your success ratio.  Keep in mind you can find probate homes at court on a weekly basis and represent clients who you take to court, overbid and in some cases you as the agent receive all the commission.  If you are a investor/agent you can find some wholesale buys in court but only about 10% of the probate confirmation sales will work out on a wholesale basis.  There are signs to look for which I will explain later on. 

     So far we have found a probate home going to court for confirmation and based on a comparable sales check we label this probate as undervalued and one to continue working on.   First I determine if this can be a flip.  If we can purchase the probate and flip for a min 10% return (net) plus my commission I will go after it as a "Level 1" probate opportunity.  If there isn't this spread then I will market for a end user buyer to just earn a commission at the court overbid.  The great news is there can be court overbid situations where you receive the full commission.  YES!  Imagine going in on a $250K sale a estate was selling to a family member or friend and you show up with your client overbid and you receive a 4-6% commission.  This happens and I can remember one overbid where I showed up with my client and there was a agent I know present with his client to overbid.  He was wired in to the estates attorney and received all her probate listings but in this case he didn't list it as it was a sale from the estate to a neighbor.  When they asked for overbids this agent stood with his client and to his surprise so did I.  The neighbor was unprepared to bid and just went away and we outbid the other agent.  Not only did we receive the overbid (wholesale by the way) but I was awarded a 6% commission.  This was a property we paid $228K for and resold 3 weeks later for $280K.  We had a $52K profit less sales costs plus I received a $13K+ commission going in.  By the way the other agent was so upset he walked out of court and wouldn't look at me but his client stopped and asked if he could call me about buying some probates!   I love this biz....

     Ok so let's say this probate going to court confirmation is a good one.  How do we do what we do as a Probate Agent or as our own investor in protecting our chance to overbid.  First, we go and walk the subject Probate Real Estate property so we can determine if there are any issues visible to the eye.  These properties 80% of the time will be vacant so just go and do your inspection.  We check foundation for cracks which could be a problem, we check the roof for signs of any issues, look in windows to see property condition.  I also will send my contractor to do a exterior inspection.  He charges me $100 or so and will give me a verbal.  Bottom line if you know the roof and foundation are ok and there is no signs of a big dry rot or pest problem there isn't too much else which can be a major problem if you purchase the probate home.   We will try to look in the windows if drapes are open to see the condition, if any upgrades and if it needs painting, carpets or whatever.   All these steps will make you a professional Probate Agent and if you are serious about this profit center make sure to understand everything I'm laying out here.

     TIP: If you must go in the property and there is no agent (best scenario) then call the estates attorney and ask how you can inspect.  They will set you up with the executor, heir or their agent to get inside.  Once you do this interior inspection I will call the attorney back and ask some dumb questions.  What is the overbid amount if I bid on this probate and do I have to pay this amount?   What if I want a clear pest report?  Will the estate carry 20%?  These questions are asked to show the estate you are not a qualified buyer and will have no chance in court.  This will get back to the estate and to their buyer (Believe me on this) and what I want is for the estate to know I won't be showing up to bid for myself or my client.  I want the buyer and estate unprepared at the court confirmation so when I show up and bid the original buyer will be so upset and confused they will fold and not dive into a bidding war with me. 

     Now this doesn't always happen as sometimes bidders will become lost in the frenzy and just start bidding higher and higher determined to secure the property.  As a Probate Agent or a Probate Investor you need to understand that successful Probate Real Estate Investingor Agency is a numbers game and if we can't buy the property in court at our maximum price or less we will pass.  There is always another probate opportunity so don't push it on any one property. 

     So we now are ready to show up to court to overbid as we have made a determination as a Probate Agent or Probate Investor that this property is worth the time and we will overbid.  We will have our maximum price, our financing if needed, our inspections already done and ready to go.  We will be prepared at the court confirmation hearing but you will find most others won't. 

   If you google my name Gary DiGrazia Sr, you will find many articles on me from those who have either done business with, interviewed or in some way came into contact with me Probate wise over the last 22+ years I have been doing this.  This Probate Real Estate opportunity is real and can earn you Six Figures yearly but you will have to take the time to learn something new, invest in yourself for the education and devote the time (pay the price) to your first probate flip success or Probate Agent double commission.  Once this happens it's a all new real estate world for you.     Call me (510-728-2943) at my M-F 10am to 2pm PST @ my ReMax Castro Valley office if you would like to talk about this further......

How Does The Probate Real Estate Court Confirmation Work 

27 Jan 2010, 4:57 pm

     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 attorney will petition the court for a confirmation of sale date.  So in the case of a $300K sale you are your client (Agents) will have to play $30K in escrow.  Before you know the court approved the sale, before your appraisal, before inspection contingencies and many other things which could stop the sale from closing.   Also, your client may be a FHA buyer and only needs 3.5% down and with closing help from the seller only needs $15K or $20K to purchase.  This keeps many good buyers from even making an offer.  The court confirmed sale also has to wait 6-8 weeks to be placed on the court calendar and there is the chance your offer will be outbid in court.  Add to this there is a court appraisal clause which states the estate can't sell the property for less than 90% the court appraisal so how do we obtain a great wholesale sale price for our client or ourself.

     My point is even with the court confirmation sales we have been able to obtain good wholesale (Level 1) profits for our our-self, our investors or end user buyers.   Of course you need to know what you are doing but those tools are available but bottom line we can earn from this Level 4 income opportunities with Probate Real Estate.  My focus here is what are the steps on a court overbid and many of you may know something of how this works but for the newbies (Investors and Agents) I want to discuss it some.  First of all, Probate Agents who understand the system I have been using for 22+ years can make sales at the courthouse on a monthly basis and just represent buyers (end users) looking for a decent purchase.  There are some issues which I will explain in another blog but for now let's talk about going to court for a court overbid.

     First once we  have found a court confirmation sale going to court for approval (bulletin board at the court house)  or (Notice of Sale) in the the newspaper we perform our due diligence in evaluating the property.  We don't want to tip off the buyer who has the offer going to court that we are interested because they will prepare for an overbid (down and loan) and also ruin the element of surprise I like to come to court with.   So do you CMA work and find out the approx value of the neighborhood for similar type sale comps.   Check the MLS if this property was listed and find out the details on the listing. Check the INTAX (County Tax Records) for bedrooms, baths, square footage, age and lot size.  Once you have an idea of what the neighborhood is selling for compare this average sales price to the court confirmation overbid price.

     If the buyer going to court has an offer of $300K going to court to be approved the overbid will be on average about 5% plus $500 more.  So in this case the overbid would be $315,500.  This is the first bid any interested bidder in court will have to make to open the bidding process.  The offer on the table ($300K buyer) has the luxory of keeping the $300K as the original buyer going to court.  You can't offer less than the $315,500 so make sure you understand this as it will be a waste of your and your clients time if you come in anything less.  If you are going to consider working and succeeding as a Probate Agent and adding Probate Real Estateto your business plan you have to make sure you understand the process and how to maneuver around.  Please keep in mind this is a Six figure opportunity for you agents and $$25 t0 50K plus profits for investors so take the time to understand the process and the opportunity if you are interested.

     You will need a 10% deposit to bid in court so you are your client in our $300K overbid example would need to bring in a cashiers check for $30K made out to the Estates Name.  Make sure you can bring it back without any issues if you are not awarded the property. 

     Now back to our possible overbid.  When I check the property overbid price to comps if I see there is some room, let's say the $315K is still under value of the house I will then make a decision to go after the sale as a purchase for myself or investor if we can make our net profit we require on the flip.  Many times the price is already 10-15% under market so there is room for flipping.   If not and the overbid is close to retail (5%) then I will be looking for a end user buyer to overbid.  This is great as we pick up commissions with this Level 4 opportunity.  

     Now as a Probate Agent if th e property qualifies for my spending time on it and going to court to overbid, I can plan on a Flip where I make a commission going in and out plus part if not all the profit or just a commission going in representing a end user buyer.  Probate Real Estate has these opportunities on a weekly basis in my County and yours should be the same. 

     I have more to talk about the overbid process but will come in my next blog.  Call me,Gary DiGrazia Sr at ReMax Castro Valley if you care to talk about this. 510-728-2943.

Court Confirmation Sales-How Do You Find When and Where 

26 Jan 2010, 11:29 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 would any agent want to be a Probate Agent with all these handcuffs?

     What I want to talk about with this blog post is how to find the court confirmation sales and check for those which may be a good buy (wholesale) even having to overbid in court as either a investor on your own or as a real estate agent bidding for his/her client.   This court overbid process is what I call my "Level 4" income opportunity and I have made some great buys for my investor clients and also end user buyers in court overbidding.  I have shocked many a real estate agents who had invested 2+ months in the deal only to loose it to me or my client who swooped in and overbids in court with the original buyer and agent unprepared for this to happen.

     Where do you find about these overbids?  There is really no service which gives you everything you need to know as a Probate Agent looking to pick up  probate real estate property going to court for sale confirmation.  There use to be the Blue Sheet in my Area (San Francisco Bay Area) but for the most part it was not the preferred way I found to uncover these diamonds and earn.  Probate Real Estate Investingg the "Diamond Farming" way gives me 5 different income opportunities with probate homes and if you are really interested this information will help you out.

     Each court superior court house will have a bulletin board where the legal notices are posted.  This is where the notices of Trustee Sales are posted for those of you who chase foreclosures TS Sales.   You will find on these bulletin boards the Notice of Sale Confirmation.  This form will give you the Court File number, Name of Estate (Decease), Attorney information, and the date, time and location of the court confirmation sale.  Usually there will be around 10 days to 21 days before the court confirmation hearing.  I only grab sale confirmations where I have at least 10 days to check the property out, find a buyer, and prepare a bid.  You have to hurry but you might be looking at a great wholesale purchase for yourself and or a big commission if there are no agents on the offer going to confirmation.

     I will then access the court file either by requesting the file or through the court systems computer which is usually located in the file room.   We can go through the file and find the Notice of Sale Confirmation.  This will tell us who purchased the subject Probate Home, who the agent(s) are, the commission paid, the terms of the sale, how financed and the opening overbid for any bidder in court.  As  a Probate Agent it is imperative you know how to access these notices and how to access the court file to find your information. Keep in mind there are probate real estate confirmation sales every week and working these alone could earn you six figures per year.   Most of these properties will be listed on the MLS and over exposed but many will be private sales between the families and friends of the decease who don't know what they are doing.

     After I check all the details of the sale going to confirmation I then make a note if I'm going to work this property or not.  If no realtors involved and the price is at least 5% under market I will jump on it.   This is a great way to find properties for your FHA buyers who have been having trouble buying anything with all the competition.  There are other issues buying at the court confirmation over bid but for now just understand how to find the notices.  

     Call me (Gary DiGrazia Sr) at my ReMax Castro Valley office 510-728-2943 if you want to pursue this more or check out my website (www.probate-realestate.com) for more information.

GIVE ME YOUR PROBATE QUESTIONS 

25 Jan 2010, 12:23 am

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 the trenches buying, selling and listing Probate Homes.

.....Gary DiGraziaSr  ReMax In Motion Castro Valley...has 30 years in the Real Estate business and is currently an agent with ReMax In Motion in Northern California. Since 1987 Gary has been buying and selling Probates as both an Investor and agent. He currently works in the San Francisco Bay Area (East Bay) and deals in the $250K to $400K range. He averages $25K to $50K (Level 1-4) profit with his probate flips and also earns on Probates (Level 2-3) he can’t purchase at the proper discount. He teaches 4 Levels of Income Opportunity for Investors and Agents with Probates.

The Contra Costa Times, Inter City Express Legal News, and radio Talk Shows for what he does have interviewed him. In the early 90’s Gary spoke at the John Beck Seminars for Investors and was asked by John to put in writing what he does (Diamond Farming). John Reed (Real Estate Investors Monthly) devoted a complete Chapter in his best selling Real Estate book (Real Estate Deals which Make Sense) on what Gary does with Probates and is one of a few Real Estate “Gurus” John Reed recommends (www.johntreed.com). Since 1992, Gary has sold his “Diamond Farming” Probate Investing system in just about every State in the Country along with Canada and the UK. A large percentage of his real estate business is probates and earns his living buying, selling and listing  Probates. He has a two punch system which is for Investors just wanting to Flip Probates and also for Real Estate Agents who want to just sell and list them. He hasn’t done seminars since 1992 other than a few Investments Clubs as he spends 90% of his time buying and selling Probates. More Info on Gary @ www.probate-realestate.com........

PROBATE AGENTS...IN THE MAKING HELP ME HELP YOU...

     I am interested in doing more coaching and in particular one on one for those agents who need more than just a manual.   I really do appreciate all the feedback and interest but request you all to start sending me what you would like to know about the Probate Real Estate business and in particular being a Probate Agent.   Agents who want to also buy and sell, this is my Level 1 opportunity with my system and I want to know what you want to learn so I can upgrade the system as I move more into teaching.

     I will continue to blog as the response has been awesome and I really do love to write.  Remember, I am more than willing to take your call and chat about what I do and how you might fit in to this system.  It's not for everybody but there are options....Call me 510-728-2943 between 11am and 1pm M thru F and we can chat.  For now please send me emails (GDigrazi@Aol.com) on what else you would like to know so I can blog about it as well as what I do....