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Hi Jackie, I am interested in pursuing highest bidder sales so that I can generate some cash flow. The thing that is standing in my way is not knowing what contracts to use and how to fill them out properly. I was hoping that you could recommend a book or course… that can help me out with contracts.
Thanks,
MichelleHi Michelle,
Jack Miller has an excellent book called “Document Your Deals” It’s available in the CREWealth store for less than $10
Every deal is unique. So it is impossible to use one contract to fit all situations. You’ll need to customize the paperwork and you can do that easily by using an addendum ( or an additional page) to any contract you use. IN the contract you just need to state someplace to “See Attached Addendum” to reference that it exists. Most contract have a place for SPECIAL PROVISIONS. If you just have a few additional things you can add it there. But you’ll usually have a list of “addendums” that you’ll want to put on a seperate sheet of paper. Be sure to leave a signature line for you and the sellers/buyers – at acknowledge that everyone agrees to the addendums. In some states, it is necessary to get the contract & addendum notarized.
Don’t worry about the legal mumbo jumbo – it’s much better to just clearly state exactly what you and the seller or buyer agree to. Keep it simple.
Jackie
Hi Jackie, I went through Jack’s book today. There is alot of great information in there but I am still a little confused about contracts. For example, if I find a seller that would like me to sell their home what is the first form that we would have to sign i.e. do I download an option agreement form and have them sign it? Are you using the same forms that a wholesaler would use?
I admit it I am lost! Do you guys offer a class that tells you what contracts to use when and how to fill them out?
Michelle
In the Learning Annex, just under the 24-Week Video Lessons is Jack’s Q & A manual
If you look through there, you’ll find a TON of information and guidance.
Sometimes it is better to step back, take a deep breath, LEARN HOW TO DO THIS BUSINESS RIGHT, then dive back in once you are armed with the knowledge you need to move forward.
If you try to do the deals before you even understand some basic information, you’ll find that you get too frustrated and give up.
WE SURE DON’T WANT THAT TO HAPPEN!
Check out Jack’s Q & A area ASAP
Jackie
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