OfflineHello All-
I found a real estate agent that is willing to try the 25:1 strategy. We have found several properties that should work with this strategy and he said to make things easier, he would like to submit the offers via email. We are getting together to draft the email and I want to make sure I have all of my bases covered.
I want to make sure I have exit strategies in place in the event I can't find a buyer, get financing, etc. What items is everyone using to protect themselves? I intend to include the Discharge Statement & Investor Disclosure Statement, but what else?
Thanks!!
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Use the search/enter box at the top of the page (on the left) to search for topics. I found this, it might be what you are looking for:
http://www.deangraziosi.com/node/7282
There are plenty of other forum topics that will give you more info too. As I said use that box to search.
Do you mean bailout clauses? Bailout clauses are the contingencies that get you out of the contract (without consequences) should you not find an end buyer.
I found a real estate agent that is willing to try the 25:1 strategy. We have found several properties that should work with this strategy and he said to make things easier, he would like to submit the offers via email. We are getting together to draft the email and I want to make sure I have all of my bases covered.
I want to make sure I have exit strategies in place in the event I can't find a buyer, get financing, etc. What items is everyone using to protect themselves? I intend to include the Discharge Statement & Investor Disclosure Statement, but what else?
Thanks!!
"THE ARCHITECT OF YOUR DESTINY IS YOURSELF"
"SUCCESS WALKS HAND IN HAND WITH FAILURE"
Thanks Angela! I guess what I am looking for is what sistreat had mentioned - escape or bailout clauses.
Exit strategies and escape clauses or bail out clauses are two separate things! The link Angela provided has a few great exit strategies and I'm not being bias here... LOL! You should know exactly what your exit strategies are before you sign on the dotted line. Make sure you have escape clauses in your contract as well. Those are your back out clauses or bail out as you call it in case something happens or the numbers don't work etc.
God bless,
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
Thanks Elena (and everyone). What are some of the typical escape clauses that everyone is using?
Some clauses we use consist of the following:
1. Subject to partners approval
2. Contingent upon inspection
3. Subject to financing
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote