He started his real estate career with fixer-uppers then moved into tear-downs and building two story homes.
Jim is the creator of the Probate Investment System “MR. Probate” and has lectured and taught nationally, as well as internationally for decades.
His educational pursuits include attending Indiana University as an undergrad, and a graduate of the University of Southern California and the West L.A. Law School.
So what is probate, you might ask? Probate is the governing process for the distribution of a person’s assets after they pass away. Many investors stay away from probates because of their lack of education. This breeds fear—a fear of the unknown. However, a fear of the unknown is the same as going into a dark house. If you turn the light on, the fear goes away.
Just as other professionals have specialties, attorneys do as well. However, very few would specialize in probate. Instead, they specialize in personal injury, corporate law, tax law or something more traditional. Attorneys usually take one probate course in law school—estates and wills. As a result, the majority of the attorneys of record that are handling probate cases are doing so because they handled other matters for the deceased, such as, divorce, corporate matters, traffic tickets-etc. Probate, however, is not their area of expertise.
As a result, probate cases can take an unnecessarily long time to settle. For those left behind, an extended probate can be a trying experience. But, an investor, who is able to help settle the estate, can provide a welcomed solution for the heirs and becomes the proverbial hero riding in on a horse wearing the white hat.
Often, one of the concerns for the heirs is converting the estate to money to help cover bills and other expenses. A probate investor can help shorten the average time to settle the probate. Probate investors can cut cost and bring closure to the estate sooner for the sellers, as a result, sellers are grateful to work with probate investors and often sell the property at a price that benefits both parties which can be below fair market value.
Another benefit of probate real estate is the constant supply and, if purchased CORRECTLY, has little to NO competition because, if pursued correctly, the address has never been in print. And there is no greater MOTIVATED SELLER than someone who has inherited a probate property!
Jim will teach us how to find and invest in Probates (THE SECRET REAL ESTATE) the “correct” way before anybody else knows the property is for sale.