Hi, it’s Lou Brown
with another one of my 101 ways for real estate investors like you
to win, close more deals and accelerate your cash flow.
Today’s tip is number 17. I’m going through some
of the contract clauses in our amazing Standard
Purchase and Sale Agreement on the buying side. Now, I’ve got one for buying
and I’ve got one for selling. So, I’m focusing on the buying side
here in this tip. When getting owner financing,
ask for substitution of collateral. Now, that’s a powerful one.
So, I’m going to teach you how to master the process of getting
sellers to carry back financing. I love the idea
of the seller being the bank. Now, when they carry back that loan,
there’s a mortgage and in that mortgage you have some stipulations in there,
some clauses. And one of the clauses I recommend
that you have in there and it’s included
in my purchase and sale agreement is that the seller agrees
to something called substitution of collateral. So, of course they’re carrying back
a mortgage on the property that they’re actually
selling to you and you might find
a buyer for that property. Well, it would be
a terrible thing to get rid of
that seller financing, wouldn’t it? Wouldn’t it be wonderful
if you could move that seller financing
to another property? Well, that’s what
I’m teaching you to do is move that financing
to another property and it’s so powerful
when you got the right paperwork and you got the right language. Now, I’m sharing with you
something that we call our Standard Purchase
and Sale Agreement and it is loaded with
profit centers and protection and that’s in my system called,
Buying. Buying: Volume 1 and one of the amazing things
about having the right paperwork, it can make such
a difference in your life. Go to StreetSmartInvestor.com
click on Tools and then take a look
at the buying system. I promise you it will be
well worth your investment and we’ve really become a staple
in the industry for paperwork so you will know
that you’re getting the best paperwork
in the industry. It’s been tried,
it’s been true, and it’s something
that many of my licensees have used
for literally decades. And I’m encouraging you to get that
for you and your business, too. I hope you enjoyed this
and will use it. I know that it’ll make a profit for you
and make a difference for you. I’d love to share more of
my profitable free tips with you. How can you get more? Well, depending
on where you’re seeing this, like it, love it,
comment on it, subscribe share it with your network, too. Thank you for watching
and I hope to see you soon.
Yeah, baby!