Archive
Making an offer is sometimes intimidating for a beginner – mainly because you’re scared the seller will accept, and you have no idea what to do next. Or you’re scared you’ll mess something up. Either way, I totally understand. But something that gave Ashley and I confidence was to realize that you aren’t contractually bound by anything just because you made an offer. An...
The phrase, “One size fits all,” is something that should never be applied to your contracts. It’s very important that your documents fit the individual deal you’re working on. If you get on the internet and get a generic contract, it may have verbiage in it that’s not compatible with the laws in your state. You don’t want that. Each time you write a contract, the situation...
It’s as simple as it sounds: a benefit list lists all the benefits associated with a deal or offer you’re making. This is a great tool I garnered from two of my greatest teachers: Peter Fortunato and Bill Cook. Pete always talks about deals in terms of benefits, not money. There are lots of benefits associated with each deal that you can’t put a dollar amount on. For...
The purpose in making an offer isn’t to have some fancy paperwork that neither the seller nor the buyer understands. An offer is meant to start the process of a meeting of the minds. Once you have a meeting of the minds for both buyer and seller, you can make a deal. I’m often asked how I figure out what to put in my offers. I’d like to walk you through a real-life offer we just made. It...
I had a new investor named Sean ask me about my door knocking technique. Instead of trying to tell him, I invited him to come out with me one day. While we were out, we came across a vacant house to investigate. In situations like these, our first course of action is to talk to the neighbors. One neighbor said they had a hard time getting in touch with the vacant owners and that...