Lou Brown has been buying, selling and holding property for 40 years and you are about to discover what a lot of so called gurus are missing.
* How to buy all the property you want without ever visiting a single bank or needing to qualify for a loan…
* How to have a buyer or renter before you even buy property…
* How to have them already pay you money before you sold them anything…
These are exactly the kinds of deals he does day in and day out. Most 'investors' are getting it wrong. It's not about the property, it's about the buyer. Buying right and buying cheap is what you'll do after you have the buyer.
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Hi! It's Lou Brown. With another of my amazing 101 ways
for real estate investors like you to win, close more deals and accelerate your
cash flow. Today's tip is number 14. "To assure your contract is binding,
always give consideration". Now let me explain what that means. Contracts
in order to be valid must have certain things in there. And of course you've
got to have the parties in there. You've got to have the subject matter. And
you've got to have some kind of consideration between the two parties that
binds the contract. So here's what I recommend and it's something that I've
been teaching my clients to do for many, many years. And simply it's when your
seller goes ahead and signs the purchase and sale agreement. Then you go ahead
and bind that by bringing a check with you. You make the check payable to the
seller. Whomever's signing that contract or sellers, if there's two of them or
more. Make the check payable to all of them. Have them sign it on the back.
for real estate investors like you to win, close more deals and accelerate your
cash flow. Today's tip is number 14. "To assure your contract is binding,
always give consideration". Now let me explain what that means. Contracts
in order to be valid must have certain things in there. And of course you've
got to have the parties in there. You've got to have the subject matter. And
you've got to have some kind of consideration between the two parties that
binds the contract. So here's what I recommend and it's something that I've
been teaching my clients to do for many, many years. And simply it's when your
seller goes ahead and signs the purchase and sale agreement. Then you go ahead
and bind that by bringing a check with you. You make the check payable to the
seller. Whomever's signing that contract or sellers, if there's two of them or
more. Make the check payable to all of them. Have them sign it on the back.
So turn it over, have him sign it on the back and go ahead
and cash the check. Now I'm not recommending you do that 500 or a thousand
dollars that you might have heard or even more that real estate agents
typically tell you in order to have a binding contract, they want to have a big
fat earnest money. What I've done for years and been teaching my clients to do
is $10. $10 is all you really need to bind a contract. Really, essentially, it
could be a dollar, but we like the $10 because it's even more solid, so they're
going to sign the check on the back. They're going to hand you back the check.
You're going to hand them the $10. And boom! We have just bound that contract.
Now you keep that check that you just cash. Put it in your folder and now
you've got evidence that you did give them consideration. One of the ways that
sellers sometimes use to get out of a contract is to say there was never any
consideration. Well, this is proof that there has been consideration.
and cash the check. Now I'm not recommending you do that 500 or a thousand
dollars that you might have heard or even more that real estate agents
typically tell you in order to have a binding contract, they want to have a big
fat earnest money. What I've done for years and been teaching my clients to do
is $10. $10 is all you really need to bind a contract. Really, essentially, it
could be a dollar, but we like the $10 because it's even more solid, so they're
going to sign the check on the back. They're going to hand you back the check.
You're going to hand them the $10. And boom! We have just bound that contract.
Now you keep that check that you just cash. Put it in your folder and now
you've got evidence that you did give them consideration. One of the ways that
sellers sometimes use to get out of a contract is to say there was never any
consideration. Well, this is proof that there has been consideration.
I hope you enjoy this and you'll use it. Know that this
will make a difference for you and your profits. I'd love to share more of my
profitable tips with you. How can you get more? Well, depending on where you're
seeing this. Please do love it. Like it. Share it. Subscribe. And share it with
your folks. And I'm looking forward to seeing you soon. Yeah, baby!
will make a difference for you and your profits. I'd love to share more of my
profitable tips with you. How can you get more? Well, depending on where you're
seeing this. Please do love it. Like it. Share it. Subscribe. And share it with
your folks. And I'm looking forward to seeing you soon. Yeah, baby!
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