Ken Stimson - Rivers of Gold Probate Course

Probate offers a remarkable way to find property that no else knows is for sale. Since other people don’t know it is for sale, how can they bid against you? Well the answer is: they can’t! Because of this and because the address of the property never appears in print or on a multiple list as a property for sale, you can often purchase these properties at 30% or more below prevailing market values.

This gives you plenty of margin to work with during the renovation process and makes it far more likely that you can sell the property for a handsome profit, than if you were to buy a comparable property paying retail using a Real Estate Agent. Probate properties are often owned free and clear. In many cases this means you may be able to have the heirs take back a loan and help you finance the property with very favorable terms.

Frequently, probate properties also include valuable personal property including cars, boats, antique furniture, jewelry, and raw land that can make finding these properties even more valuable. Finally, you can provide a valuable service to the Estate by helping liquidate the property so that the heirs can get on with their lives. This is especially true if the heirs live some distance away from the property, or if the property is in need of substantial renovation or repair.The opportunity to help solve other people’s problems represents a golden opportunity to reap considerable reward.
The System
Most small businesses fail for lack of a system. The Rivers of Gold offers a complete business system, starting with an overview of the Probate process, the terminology and all the players involved.

The system includes segments on:
• Where to look and how to find Probate properties
• How to assess what they should be worth when renovated for resale
• How to determine what you should offer to pay
• Who to talk to, when to talk to them and what to say
• How to work with Bankers to get them working on your behalf
• How to work with Real Estate Agents and enlist their help and expertise when it comes time to sell your property
• What to renovate and repair for maximum return on your investment of time and money
• How to approach personal property
• Plus, Diana offers tips and suggestions on how to organize your business to maximize profitability while minimizing your risk and tax exposure.
Ken Stimson

Ken Stimson is a Real Estate Investor who’s been involved in the business for more than 30 years. During that time he’s gotten to experience a lot of hot markets, as well as more than a few down cycles. But throughout the years, Ken has always had a secret that’s given him an edge in good times and in bad. And that secret has meant that he’s always known how to find properties he could make money on.
As you know, especially if you’ve seen the Show Me the Math segment on this website, just finding a good deal on a property doesn’t necessarily mean you can make money on it when you go to sell. What Ken learned early on was that by finding property through Probate, he could not only provide a valuable service to folks trying to settle an Estate and get on with their lives, but at the same time, he could acquire properties that have some very valuable characteristics for a Real Estate Investor. Typically:
• These properties are in need of renovation or repair. Generally, it’s very manageable renovation that can enhance the property’s value and provide a handsome return on the investment of time and money getting them ready for sale.
• They can be acquired at a substantial discount to the prevailing market, because of the emotional and financial burdens placed on the heirs to a property who are forced to deal with a home that may have belonged to a recently deceased parent or relative. More often than not, the heirs live some distance away and the property needs a sizable commitment of time and money to get it ready for sale. This is something many individuals and families are not equipped to handle. So having an opportunity to solve the problem by selling to a Probate Investor like Ken is a real win-win proposition for everyone involved.
• These properties are prime candidates to purchase by using creative financing techniques such as owner carry-back financing, wrap-around mortgages and mortgage assumptions to acquire the property.

More than fifteen years ago Ken got together with several other colleagues, including Rivers of Gold Partner Diana Hill, and began teaching others how to take advantage of the Best Kept Secret in Real Estate – finding properties through Probate.
Born in cowboy country out in Wyoming, Ken grew up on a small cattle ranch and attended a classic one-room schoolhouse. He received his BA from the University of Wyoming and his Masters from the University of Tulsa. And, he served his country as a proud member of Wyoming’s Air National Guard. After a stint teaching at Hiram Scott College in Nebraska, Ken headed west to California where he started investing in Real Estate to supplement his acting career. While acting has been rewarding, Real Estate is where Ken connected with his greatest passion and found his biggest success.
Over the years, Ken has bought and sold millions of dollars of Probate Real Estate. Through this experience he has developed many successful methods of acquiring properties, dealing with people, working with bankers, and finding creative ways of financing his probate properties. These are the experiences Ken brings to his Workshops and to the Rivers of Gold DVD series. Join Ken in one of these programs and chances are you’ll find one of your greatest teachers and a true mentor for your business and professional growth!

and You can watch my other last: Business-posts