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FAQ

Frequently Asked Questions

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

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

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

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

5. Do I need partners to make this work since you use them?
No! If you have the experience and money to do this yourself, jump in and keep all the rewards. I only suggest finding partners for the following reasons. #1 you don't have any money. #2 You don't have any real estate experience. If you learn how to find a property, you can make an offer and then find a money partner. The deal will sell itself and I show you how to do this. If you have money but no real estate experience in how to write an offer, escrow procedures, how to re-sell, etc., I show you how to find a partner who can do this for you. After a while, you will have enough money, experience, or both to go on your own. I do everything with partners because I prefer to work this way. It is fun and you have another person to bounce ideas off.

6. How much money does it take to buy probates?
In the beginning years we purchased with quick qualifier loans which required 25% down. Depending on the deal (fixer, great shape, estate carry) will dictate how much we need. We then went to “All Cash” for the right price, or pay more if the estate would carry 30% which enabled us to purchase without a down. I show you how to find the money, that is the easy part. Our last Probate with the estate carrying 30%cost us only $3,400 out of pocket to close and we earned a $27,500 profit within 90 days. Again, it's information you don't have not anything special. All I have different from you is time tested, little known information which you and 99% of other agent/investors don't have.

7. Do you finance your students deals?
No! I stay plenty busy with all five levels of probate income opportunity and don't need the headache of trying to do deals out of area. You don't need me once you know what you are doing. What I will do is help you on a deal you are trying to put together. I do this by fax or e-mail and it works pretty well. I don't charge a consultant fee or anything like it to assist you. I am not going to be on the phone with you 24hrs a day either but I will answer your questions by fax or e-mail and give suggestions to help you out. You will learn financing is the least of your problems with investing in probates. Once the word is out, you will have investors calling you to invest and agents calling you for your properties to sell to their buyers. It works, believe me.

8. When did you write “DF” and have you updated yet?
“DF” was written in 1991. I have been using the exact system since and have just revised it (2006) with additional tricks and experiences I have learned since. I have also added a “Level 5” income opportunity on probates you can't purchase at the property discount. Students have access to the Bulletin board (Free) where they can receive updates from me on any changes, post questions, read other student's questions and my answers, recruit money and or partners. This has proven very valuable to the “DF” students over the years. Our own support group.

9. Do you conduct seminars?
We stopped seminars in the mid 1990's but I plan on conducting them again soon in 2006. In this day-long seminar I personally take you through the course and train you. Cost should be around $500. If you are already a “Diamond Farming” student, a discount will be given. Look for upcoming details soon!

10. Do you Offer a Money Back Guarantee?
I have never offered a Money Back option since my information is too valuable and what this will come down to will be YOU! I work this system week in and week out and earn 80% of my yearly income from Probates so it's not a matter if it works but will you. The facts are 95% of those who buy any type of income opportunity system will never do it because they are looking for the quick fix. They also lack persistence and the never give up attitude. Remember if it was easy everyone would be doing it. If you need the Guarantee I would suggest you DON'T Order and save your money.

11. Is This “DF” System geared more for Real Estate Agents?
The “DF” system is gear for 3 types of people. #1 An agent/investor who wants to purchase and flip probates but also broker out those probates he/she can't receive the target discount thus earning a commission. #2 Investors who only want to purchase Probates at a discount and flip them for a large profit within 90 days or hold on to them for rental properties. #3 Agents, who only want to list and sell probates and increase their yearly production.

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Probate Information

"A new law in 1987 changed everything and is the basis of my system. I teach "5 Levels" of income opportunity for investors and or agents to buy and sell probate real estate. This system is what I do every week and most investors or agents do not have a clue how this works."