JG Banks
JG Banks is
a real estate investor who specializes in
training seminars for how to make money with
probate properties. JG Banks sells his
products and offers nationwide seminars
through his company the JG Banks Institute,
headquartered in Florida.
JG Banks specialty, probate real estate,
is basically a strategy of buying property
of which the owner has passed away and their
beneficiaries are looking to sell quickly.
The idea is to make them an immediate offer
below market value that you hope they take
an account of time constraints.
Often JG Banks will advertise free
workshops that teach students some of his
closely guarded secrets in this industry.
As with other free seminars the opportunity
is used to pitch JG Banks' more costly
products.
The advantage of probate investing, if
done right, is that representatives of the
property won't have the time or money to
handle the affairs of the estate and are
ready for a quick sell. JG Banks will
push these strategies as a simple way to
make a lot of money and procure property at
30-50% below market value.
The problem with this logic is that even
if you approach an estate rep with ready
cash and an offer that they are willing to
accept a quick sale is still unlikely.
Often it can take up to six months for the
property to be cleared of debts and for the
sale to go through. Thus, it is more
advantageous for owners to put the property
on the market for a chance at getting a fair
price rather than jumping on the quick sell.
Therefore some of JG Banks'
tactics are ethically questionable, because
they rely on inexperienced or desperate
owners to make unwise long term financial
decisions. That is not to say that all
probate deals are immoral, at times they can
be a win-win situation. In the end it will be up
to you to act conscientiously.
Furthermore, JG Banks' full Probate
Certification program is rather costly.
If you purchase the day of the seminar it
will run you $3,000 and if you hold of to
buy later the price jumps to $6,000. I
would recommend finding a more cost
efficient course.
There have also been many complaints
voiced about the JG Banks refund
policy. At the seminars they state
that if 6 months after completing the
program you do not make back the cost of
tuition on your first deal they will refund
you that money. However many people
have reported difficulty in obtaining that
refund. If you're at Reviewopedia.com because you're looking for a way to make money online then check out our article "7 Ways to Make Money Online" - methods that anyone can use to earn an income from home.
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Customer Responses, Reviews, or Complaints for
'JG Banks'
Average Rating is
1.00
out of
5
based on
1 reviews.
joey los angeles | 9:32pm on January 20th, 2008 | I quit my former job and came out to LA to see about doing something else. I saw the add one late night and decided to check it out. Nothing to lose. By the end of the info seminar, I was 3k in. But I was determiined to do it. The money back guarantee is that by the end of the first day's seminar, if you are not satisfied, you get your money back. The entire day is spent on rehashed info they already said in the info seminar. If you decide to return the 2nd and 3rd day, you are overwhelmed with how much money you will make but that it does take work. It's been a year and I've done it by the book and have 10k into their bank acct and not a dime in mine. And the one year guarantee? In this failing economy, buying a home for 50% below market is not a deal anymore,neither is selling it at that price. Snake skin oil and read your palm for you if you like? |
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