Good morning, everyone. It is Saturday morning and I’m here alive and well ready to freaking crush it today it is the weekend. And I usually don’t work on the weekend unless I got a deal or I got something that I got to take care of. And we got some we got to take care of I was really busy this week. But, you know, we talked to Jay, one of my, one of the members of the club, we call the seller made him an offer he accepted. And today I’m showing you exactly what type of contract you use to sign with a seller. Okay, a lot of people are probably unsure of what kind of contract you need. So I’m going to show you right now exactly what kind of contract you have. By the end of this video, you’re going to know exactly what what real estate contract you need to use and how to fill it out. That’s what we’re going to do today. We’re gonna I’m going to explain it to you. And then I’m going to show you how to fill it out with Jay right here on the call. And definitely stick around because you’re gonna find out what resources you need to get this contract where you can find one to do deals and assignable contract, where to find it, like I said, and what software and what information you need to use in order to send a contract if you aren’t going to be able to just print it out and go get them to sign it. So let’s freakin dive in everybody.
So if you don’t haven’t seen my mind map, my mind map that I give out for free. There’s a free and a paid version, depending on you know what resources you need out of it. But I’m just going to show you on the mind map. If you go to Step eight, that’s the step where you make offers to sellers, here is the wholesale contract, it is assignable. There’s one for on market, and there’s one that’s when someone has a property listed on the MLS and there’s one for off market. Here’s a video of me filling out the contract just strictly I just fill it out. But this time, I’m telling you what kind of contract it is. And then we’re going to fill it out. Okay. So if you need this agreement, the agreement that I use, it’s battle tested, battle approved. And then it’s been through people trying to cancel it and we say hey, you know, you can’t you signed an agreement. So anyway, here is where you can get the assignment contract that I use.
Again, it’s a beast, it’s got an actually, there’s a couple other contracts that are available for you to if you want to look at different ways to, you know, whatever works for you. But I have mine that I specifically like to use. So anyway, here’s the assignment contract. Pretty cool. Okay, it’s in the mind map. And if you’re watching this video, the link to the free mind map is available. Obviously, if you want the contracts, that everything that’s available in the mind map, the mind map, the free ones shows you the processes and systems, everything you need. But if you want my resources, you got to join the All Access Program. No problem. So now that you guys know where to find the contract, let’s talk about what kind of contract it is. All right. So the real estate purchase contract that I use.
And what it does, guys is just it’s just drafted by an attorney. It’s nothing crazy just says we’re going to buy the property for all cash. And I’m going to show you what it looks like in a second. Let’s dive into what services you need to send a contract because we’re about to send this deal out and have the seller sign it. So right here, you need either DocuSign I use panda doctors, many different software’s out there, but we use panda Docs. So let’s go right into it. You just need a software where you can put your contract in here and go to town on it. So I’m going to be the buyer on this one. So you got Nathan, and then there’s one signer for the seller, the sellers name is Donald Davis. All right, so we’re gonna put Donald Davis and he told me to email it to his wife. So here it is. And by the way, this is a this is a mobile home that he owns the land in Tucson, and you know, he accepted the offer. He’s like, let’s freakin go. Thanks to Jay. You know, crushing it on the phone. He’s 19 years old, and he’s freaking he crushed it. He got it done.
Alright, so Hey, Jay. You ready, bro? You ready to come on here let’s let’s go through this contract row. You ready? All right, Jason. Hi watchin are he’s about to hop on. Yeah, I’m ready. Let’s get it bro. So this is a real estate. This is a contract for purchase of residence or the real estate. This is the one I use. You have access to it. And since you’re a Club member, and all you got to do is fill this thing out, man, it’s pretty simple. And let’s fill it out together. All right, so we got the address right here. Okay, so we’re gonna go copy and paste this bad boy in here. Property Address. Let’s see if I do this.
Perfect. Okay, so that’s the address the purchase price on this piece. This mobile home is 65,000. Now our plan is to have five days of due diligence to find a buyer and if we don’t, we’re gonna go back to him and say, Hey, after science Sorry, I’m just writing due diligence deadline five days after the contract is signed. Actually, I’m just gonna put till next Friday, just to make it easy, because he said he’d give us Friday. So nine. Let’s just do Friday. What does that 12 912 922 due diligence deadline. And our goal again is to find a buyer if we don’t find someone J. And we someone offers like 40k or 30k We’re just gonna go say, hey, look, we talked to our partners, we’re ready to go but we’re going to need to need to be at less than what we the buyer said they’d offer. Does that make sense? That’s how you like get your get your fee involved and stuff like that.
Yeah. Okay, cool. Cool. Cool. All right. So again, this is a normal real estate purchase contract you have the address, the price, the due diligence if you have due diligence, so what he said is, he owns it in an LLC with his brothers so we’re going to put the LLC there and it’s called for brother Davis brothers LLC. So we’re going to put that there so that is who we’re dealing with seller today’s date, address address purchase price terms, this is just all legal stuff. It’s just like talks about taxes if there’s any issues of the property that let us know no liens we get possession as soon as we close you know we have an inspection we have the right to inspection of the property contingency is we have the right to back out risk of loss as the House would blow if the house blows up for a buyer we don’t have to buy acceptance of contract you can put like by Sunday but I usually just say NA because if they’re going to sign or not I don’t usually put a deadline on him so earnest money I mean, we tried to put down as little as possible because and you can explain to the seller like hey you know we buy a lot of properties all cash so we don’t put a lot of money down just because we’re quick about it.
And if they have a problem with that then you can discuss it we would do the close date and let’s say by the end of September, man I say September and then December 3012 30. If you have any questions let me know but right here says buyer agrees to purchase property in as his condition subject to appraisal if you want to get one buyer pays all closing costs buyer may assign or transfer the rights to the buyers property. So that is your assignment clause. It just says we can assign it in the event that the buyer defaults, you get our earnest money, the seller agrees by signing this that he can go sell someone else Time is of the essence to close the deal. This allows us to market the contract on the MLS if we want to we’re telling them that we do that if we need to buyer disclosures that’s to protect us so they can’t sue us in the future. Since after they see we make money because we’re telling right now we’re here to make money attorneys. If they try to back out and we have to go to court, they gotta pay for it. Seller acknowledges that we both agreed on this deal and prohibition and to be real. I’ve done this for four years. I still don’t know what that means. But who cares? And Bada bing, bada boom, it’s ready. Did what do you think? Looks good to me? Any questions?
Not really, this isn’t my first time filling out a contract. Like I told you before, when I first got into it. I just let you know, I send the bad. But I think I downloaded like a free contract from Rick. Yeah, something similar. It was just it got the same turns like most of us would just like, I mean, not like you don’t look just like this. But you know everything. Yeah, of course. It’s a little different. But hey, man, so yeah, that’s good. That’s good. You’re able to see,
I guess what a different contract looks like again, not every you don’t have to have the same contract. It’s not like there’s a nationwide specific real estate contract to wholesale or buy someone’s property, all cash. They’re all different. There’s, there’s ones from all different coaches, all different companies. This is the one I use. And yeah, so anyway, here it is, guys, we’re gonna send this off. And then what I’m gonna give to you, Jay, is you’re gonna go call them after I send this and just remind them, hey, we sent that over. Sorry, took some time. We’ve been really busy. We signed that right now. So we can start our due diligence process on Monday.
And, you know, just let me know, if he signs then I’ll get it. But pretty much that’s all we really need. Um, we got everything set up, right. Alright. Alright, send the email. Let’s send this junk. All right, create a document. And I’ll fill it out right now. So my portion is signed in this better being that’s it, bro. You make offers you send contracts they sign or they don’t. And my thing I usually before I send the contract J I call them? And I would say say hey, Donald, I just sent you the contract. I wanted to review with you before you sign it to make sure you have don’t have any questions. Do you have some time to look at it right now? Okay, great. All right, I’ll send it so actually, I don’t even send it until I get them on the phone because the chances of them ghosting you. If you send the contract. Likely, it’s pretty likely that if you just send it and you just hope they sign they can go bring the contract to someone else try to get a higher offer.
So again, this is my process. I fill it out. I call him I say hey, are you in front of your computer? Do you have five minutes that we can look at this contract before you sign? I just want to make sure you don’t have any questions about it before I send it. Oh no, I’m good. Send it over. I’m on my computer. Okay, great. I send it he opens up the contract. We go through it. I read it not step by step but I go through it little by little just to make sure He doesn’t have any questions. And I said, Hey, is everything good to go? Yeah, everything’s good. All right, can you sign it just so we can get the ball rolling right now? Okay, great. So again, I usually don’t send it unless they’re on the phone, but my excuse is it’s Saturday and you got this all right. All right. And that’s the cool thing, man like this deal. You know, like, because you’re in the club, I’m willing to do deals and hook you up. Like, I mean, this whatever, bro. Like, let’s do deals together. Let’s share the love right? And again, guys, if you’re not my club, I mean, you got Jay here as an example, I will literally call sellers that I get I’ll work with you. I’ll say, hey, let’s do this deal together. I want you to learn rigging. Let’s go
