7 Real Estate Contracts To Flip, Rent & Wholesale Houses

So I wanted to take a few minutes and talk a little bit about myself, my Real Estate experience, and even my motivations and struggles just so you have a better idea of who I am so that you can hopefully relate with me on a closer level as we dive into your 7 Real Estate contracts.

I’ll start off by saying something very simple, but also very true - and that is simply that I am nothing special. While it is completely true that I have bought, sold, rented, and wholesaled over 300 houses thus far, I didn’t accomplish that with any sort of special edge or advantage.

I didn’t have anybody in my life who was a Real Estate expert that I got advice from, I certainly didn’t come from a family that had an abundance of money, and I’m not even a college educated guy. Suffice it to say that anybody can do the things that I do. I’m just being honest here.

All of the successes I’ve experienced in Real Estate have been hard-earned. In fact I like to say that if I do have any special ability that gives me an advantage in Real Estate, it’s probably that I’m just hardheaded. I mean, when I make up my mind to do something, by-golly it’s going to happen. It might take me a while to get there, and I’m sure to make every mistake along the way, but I’m going to get there eventually. Trust me - I’ve made all the stupid mistakes - all the expensive mistakes - all the embarrassing mistakes. The nice thing is that I really hope to save you from making some of my mistakes simply by sharing my knowledge through these courses.

Now, I can look back on over a decade of general success that I’ve experienced, but I never forget that there were several very dark years of struggle that preceded my years of success.

So yeah - it hasn’t always been easy. Far from it as a matter of fact, but I wouldn’t change anything about my overall experience because even those tough years ultimately contributed to the knowledge that I have today - and that knowledge is what I enjoy sharing with other people who want to learn Real Estate investing.

Now, in case you’re wondering, let me explain the sort of progression I went through as a newbie Real Estate investor…

Early on, I essentially knew nothing more than the general knowledge required to buy a primary residence. In other words, when I started trying to learn real estate investing, I already owned the house that my young family was living in - so any Real Estate knowledge beyond that was essentially new territory for me.

Somewhere along the way I had heard that wholesaling was the best way to get started - and that’s still a philosophy that I tend to agree with in most cases. While wholesaling does represent the lowest barrier of entry to a new investor and it’s generally viewed as being “risk free” - I actually feel like wholesaling is more complicated and complex than what many coaches and gurus make it seem. Still, that’s the route I took getting started, and it worked out just fine for me - even though I certainly experienced a lengthy period of struggle before things really started to click even with wholesaling. Like anything worth doing in life, there will be struggle involved, and the real key to eventually succeeding is to commit to the learning process, accept that things will be difficult at times, and never give up.

So after successfully wholesaling houses for about a year or so, I ended up at a place where I literally had great deals at my fingertips on a regular basis. It made me think that perhaps I should try running with some of these deals to see if I might be able to boost my profits instead of simply passing them off to other investors as assignments.

So that’s what I did. I kept a close eye on my wholesale deals and when I found one particular deal that seemed like a super-safe retail flip, I bought it with the intention of fixing it up and selling it to a first time home buyer as one of those “fix-and-flip” deals that I had seen on TV.

Well, long story short, I basically broke even on that deal… and honestly I was SO HAPPY that it worked out that way. I did everything wrong. I paid too much for it out of the gate, it was in a bad area for my strategy to flip the property to really make sense, I spent too much on the rehab, I chose to list the property during the holidays, and essentially made a string of rookie mistakes back-to-back-to-back.

THANKFULLY, I didn’t lose a bunch of money, but I definitely lost a bunch of time and energy. In the end, when the deal was finally done, I was both extraordinarily frustrated with how the whole thing turned out, but I was also KEENLY aware of all the mistakes I made. Because of this newfound “heightened awareness”, I was actually more anxious than ever to apply the lessons I had learned to a different property to see if I could have better results.

So back to wholesaling I went for several months while I searched for the next potential fix and flip deal. Sure enough, another suitable deal presented itself. It was seemingly PERFECT. Good area, good condition, good layout, good deal. I snatched up this opportunity and was LASER FOCUSED on making this one turn out as a truly successful fix and flip.

I bought it right, was very careful on my rehab expenses and materials, got the whole project wrapped up in a timely manner, and listed the newly rehabbed property for sale in the Summer. The curb appeal was awesome. The area was awesome. It was one of those situations when you just know without a shadow of a doubt that you’ve done things right.

In this case, the 2nd time was the charm. The house sold to the first couple that looked at it 5k above the asking price. The deal was done and I finally had the validation that I needed to crank things up to the next level and operate with renewed confidence.

Now I want to circle back for just a second and shed some light on an important asset that I think contributed in a huge way to my success in both this fix and flip deal, and also MANY of the deals I’ve done up to this point.

The asset I’m referring to is simply my wholesaling business. In many ways it’s sort of the backbone of my investing business.

I say this because the wholesaling side of my business essentially provides me with a flow of incoming leads that I can cherry pick in order to turn them into rentals, flips, or turnkey deals. Without my wholesale business, I’d have to dig up every single lead manually that I want to research and make offers on, but with my wholesaling business, the lead flow is already there.

When a deal is good enough to make a few thousand dollars on, but perhaps not something I want for myself for any particular reason - I simply go under contract on the deal and take it down the path of wholesaling it to another investor. Then when a real sweet deal comes up and I’m in the mood to do something different with it and perhaps make a bigger profit, I can choose to hold that deal for myself and take it down one of the alternative investment paths I’m familiar with.

Now, you probably know the difference between a fix and flip and a rental, but you may be wondering what a “turn key rental” is. Turnkey rentals are sort of what I specialize in outside of wholesaling. What I’ll do is buy a property, set it up as a rental with a solid tenant placed and on lease, then I’ll sell that property with the tenant already in place and the property cashflowing to another landlord investor who wants cashflow properties. That’s what I mean by turnkey rental and it’s one of my favorite ways of making money with real estate. It’s sort of a “hybrid” investment strategy that I’ve just sort of naturally become good at over the years.

Yeah, so that’s sort of a general synopsis of my own experience, my business model, and how I tend to operate.

Now for just a minute, I’d like to share some insights on how Real Estate investing has impacted and improved my lifestyle and collectively the lives of my family. I figure this is potentially interesting to hear about because I think it helps give other people HOPE and MOTIVATION that they too can create a lifestyle around Real Estate investing.

So I certainly don’t say the following to brag or anything like that, but at the same time I am very proud of what I’ve been able to accomplish and also for the type of lifestyle I’ve been able to provide for my family. Now that we’ve got the Real Estate investing side of things dialed in and set up in a way where we can essentially TURN OFF the business for periods of time, it’s enabled my family to do quite a bit of traveling. Our preferred method of traveling is actually by sailboat. Yeah - so we’ll load up our sailboat and head off to the Bahamas or Carribbean for as long as 6 months a year. We sail around in one of the most beautiful areas of the world, explore deserted islands, snorkel in crystal clear water, we have huge white sand beaches all to ourselves, and actually one of my favorite things to do out there is spearfishing. Yeah - diving down with literally just a spear to bring back something for dinner. It’s awesome - one of my favorite things for sure. This lifestyle we’ve been able to create, while I’m sure it sounds incredible, really doesn’t require all that much money to make happen. When we’re on the boat we live quite frugally, quite simply, and actually “rough it” in many ways compared to most people, but it’s a lifestyle that we enjoy very much. So I mentioned that this special lifestyle doesn’t require all that much money, and that’s absolutely true as we generally live on less than $1000/mo EASY while we’re out traveling on our boat, but what this lifestyle does require is TIME.

Freedom of TIME is actually, to me, the most special benefit to owning your own Real Estate business, but I will say that you have to build your business from the ground up with TIME being your most precious commodity if you desire to operate in a manner similar to how we do. If a Real Estate business is built incorrectly, or built with nothing more than MAXIMUM PROFITS being the most important element, you could potentially find that you’ve ultimately created nothing more than another JOB for yourself. A JOB of which you are both the employer and the employee, and that’s probably not necessarily where we as Real Estate investors would hope to end up. So just keep in mind the importance and value of your TIME in addition to your PROFITS as you build your Real Estate business because, for us, it’s tough to imagine NOT being to completely TURN OFF our business as we see fit so that we can travel and truly enjoy the fruits of our labors.

Now, to wrap this up, allow me to speak more specifically on the topic of my Real Estate courses.

So, I tend to focus on foundational knowledge and resources when it comes to my Real Estate courses. In other words, I really like helping people who are working hard to get those first few deals under their belts because if they’re anything like me, things tend to get MUCH easier, MUCH quicker after you are able to break through those first few deals. So that’s one side of my general clientele, if you care to call it that.

The other side is working with people who are trying to take their business to the next level. People who are working to leverage their existing knowledge and expertise into something bigger. Perhaps they’re trying to scale up and increase their productivity - OR perhaps they’re working to automate their Real Estate business as much as possible. These are actually some of my favorite people to work with because helping them reach the next tier of success really give me a lot of satisfaction and typically it’s in these later stages where true success in Real Estate is realized and all the time, energy, money, stress, and effort that has gone into trying to create something lasting, profitable, and sustainable finally becomes worth it.

I get the biggest kick out of helping people improve their lives and reach their Real Estate investing goals because I know, personally, how great it feels to finally take control of your life and financial future through Real Estate investing.

So that’s my story, my experience, and also motivation for creating these courses.

I hope you get a ton of benefit from the course material, and if there is ever anything that I can elaborate on or perhaps provide a greater level of clarification, just reach out and let me know.

I’m in this to help you reach your Real Estate goals, and I want to do everything I can to ensure that you benefit greatly from my courses.

With all that said - let’s move on to the next lesson!

Alright, disclaimer time. I know that might be a creepy thing to hear, but I’ve got to get this out of the way.

So here’s the disclaimer:

I take no responsibility for the outcome you may experience by using my contracts or otherwise concerning any of the content within my Real Estate courses.

That’s it. I hate that I have to say that, because it kinda feels like it undermines my credibility, but it’s one of those things that I just have to mention.

While none of my contracts has ever given me a hint of legal trouble over the years, I simply can’t make any specific promises that you’ll have the same experience. No contract can guarantee with absolute certainty that you’ll stay out of hot water. Ultimately it’s up to you to conduct yourself in a professional manner and not make moves that will put you at risk. I think what it really comes down to is that if you take good care of the people you’re working with and operate with integrity then things will generally be just fine.

With that said, my contracts do provide the user with a substantial level of legal protection. They’re purposefully designed to give you the horsepower to control deals, get offers accepted, and generally be able to successfully maneuver deals to the closing table - while simultaneously giving the user the ability to get out of deals if that turns out to be the best course of action.

So while I can’t make any specific promises concerning my contracts, what I can tell you is that I’m extraordinarily pleased with how well they’ve served me over the years and I just can’t see why you wouldn’t experience the same level of success by using them for yourself.

I’ll close this lesson by giving you some valuable advice.

Always have any contracts you intend to use approved first by your attorney or title company before putting them to use. They may simply approve them just the way they are or perhaps they'll suggest some edits. Either way it’s a good idea to follow their advice because they are very in tune with the nuances of your investment market.

So that’s it, that’s the disclaimer. With that out of the way, let’s get into the meat and potatoes of this course and let’s dive into the contracts.

This lecture covers the line-by-line walkthrough of the Purchase & Sale Agreement.

This lecture covers the line-by-line walkthrough of the "Sell-Side" Purchase & Sale Agreement.

This lecture covers the line-by-line walkthrough of the Assignment Of Contract.

This lecture covers the line-by-line walkthrough of the Master Lease Agreement.

This lecture covers the line-by-line walkthrough of the Invoice.

This lecture covers the line-by-line walkthrough of the Option Contract.

This lecture covers the line-by-line walkthrough of the Amendment.

Well done on the completion of the course!

Go ahead and download all of your contracts, edit them as you see fit, and start putting them to use.

From here, I would like to recommend that you consider enrolling in one of my 2 comprehensive courses because I feel like each one offers INCREDIBLE BENEFIT to Real Estate Investors who are interested in either RENTALS or HIGH-EQUITY DEALS...

I'll put links below to each one so that you can check them out.

If you are interested in owning rental properties OR accessing high-equity, low-competition deals then I suggest you take a closer look at each of these courses as they offer incredible benefit, resources, and guidance that will play a HUGE part in helping you take your Real Estate business to the next level!

Here are the links...

BUY & HOLD: How To Buy, Fix, Tenant, & Manage Rentals:

https://www.udemy.com/course/buy-and-hold-real-estate-investing-course

THE PROBATE BLUEPRINT: The Ultimate Probate Real Estate Investing Course

https://www.udemy.com/course/the-probate-blueprint-real-estate-investing-master-class

Consider enrolling in these 2 courses as they are an excellent next step for Real Estate Investors who are interested in either establishing an excellent new lead source OR getting started with rental properties.

I hope you've received a TON of benefit and value from the resources I've provided.

I would like to ask a special favor and that is simply that you leave a POSITIVE 5-STAR REVIEW.

It really helps me out by allowing the course to rank better which helps me get the course in front of more students who can benefit from the course, contracts, and resources - so thanks very much for doing that!

A HUGE congratulations to you for completing the course!

I'll see you in the next one.

-Ben