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Special Provisions for Real Estate Contracts
If you are NOT signed up for my weekly Q&A calls… maybe you should be?
These Q&A sessions have been the most rewarding for me, personally.
When you sign up for the Q&A calls (Every Monday at 7pm CST) you also get the archived
calls; over 400 hours of recorded Q&A in chronological order.
The Q&A is rewarding for me because I get to see real people grow and accomplish in real time. Yes, you can learn a ton from the archived Q&A but I learned something about the recorded sessions; students gain a lot of confidence in the program because they can see other young investors achieving their goals and even exceeding their aspirations…Live!
You see their struggle, hear the strategy, witness their victory. It’s very powerful. If they can do it YOU can do it.
You can’t fake Q&A and get away with it. It’s real – no doubt!
So this Monday on Q&A we’re going over the Texas promulgated contract and discussing how to write a great contract to BUY an investment property.
Now, a lot of my students aren’t from Texas so they may be thinking to skip this Q&A, however, I do use some killer “Special Provisions” and they apply anywhere USA.
If your already a student, go to the DOCUMENTS section of our members only website 1000Houses.NET after the session and look for your copy:
Special Provisions – BUYING
Special Provisions – SELLING
My executive assistant of 20 years (my daughter) always reviews these special provisions right next to the contracts before they go out to get signed.
There are too many good provisions and too many “certain situations” to remember. A quick review of all the special provisions, with the contract/property of the day fresh in mind, helps protect my company and/or nail down some advantageous positioning.
For example:
You’re about to make an offer to buy a house and your offer requires the Seller to carry back a note to you (seller financing).
You have used a technique you learned from Mitch and if this deal gets signed (as agreed verbally already) you are going to get an interest free loan from the Seller.
You glance over the “Special Provisions – BUYING” and you are reminded of the “Substitution of Collateral” clause. Wow! Almost forgot about that clause!
You go back and include that clause in your contract… Because that clause is worth a fortune (you have an interest free loan for heaven’s sake!)…and you have FREE & CLEAR properties you could substitute if you ever sell this particular property.
One day you may be able to sell this property at tip top dollar but why give up an interest free loan?
With the “substitution of collateral” clause in place, you can do both things:
-Sell the property
-Keep the loan
You simply move the loan to another piece of free & clear collateral that fits the terms of the clause.
I bet you want to see that clause don’t you?
Sign up and then go to your members only website and find my list of “Special Provisions – BUYING”
And check out the list of “Special Provisions – SELLING” while your there. You’ll see the protection or the dollar signs in every clause.
Would you like to become a student?
Contact me directly so we can discuss your options.
210-669-4020
I only take 20 – 25 students per year. Why? ‘Cause when you call, I answer the phone.
Read my book. Get all my free stuff 1000Houses.com/menu…get to know me.
It’s a great value! Talk to me on those calls. Let’s get to know each other.
I don’t hard sell my courses. If my mentorship is right for you, you’ll know.
Last thought and then I’ll sign off:
People tend to look at the prices of personal mentorship and then fall out if their chair. Most mentorships worth having seem to cost a lot.
The truth is, the right mentorship should bring back in more than it costs.
Let’s face it, a college degree costs waaaay more than even the most expensive mentor I know, and what do they teach you?
Education is important, we all get it. So it’s crazy to go into the creative real estate investing business without the proper education and a mentor who’s already been there.
What you pay and who you chose is up to you, but make no mistake, YOU are going to pay one way or the other.
You’ll pay every single time you make a mistake.
You’ll pay every single time you step over that money you didn’t see was there.
You’ll pay every time you chicken out on the deals you should have pulled the trigger on.
You’ll pay every time you do those deals you should have walk away from.
You’ll pay every single time you don’t put that clause in your contract…you know the clause…that clause you haven’t learned yet.
When you look at how fast the mistakes can add up to in real dollars, having a mentor starts to look cheap. Not to mention the headaches you’ll avoid and the time you’ll save.
I pray you find the right mentor for you. Get to know me. Maybe I’m your guy. If not, I’ll help you find another.
That’s all I have to say about that.
–Mitch–
210-669-4020
Mitch@MitchStephen.com
1000Houses.com/Menu