Download My Option Agreement…
Man, you guys sure love to swipe our stuff!
I mean, based on the gratitude galore we got from sharing one of our favorite motivated seller postcards recently, it seems pretty clear that the old “Swipe and Deploy” is something we should keep rolling with.
So let’s do another one…
Today’s handy-dandy resource is one of the core essentials every investor should have in your tool-belt–the Option to Purchase Agreement, or “option contract” as it's often called.
But I gots to tell ya — just having this form in your bag of tricks isn't enough… You’ve got to understand it's purpose and how to effectively wield it. Which is exactly why I made you this little video about it.
The essentials on option contracts
In this video you'll learn:
⇢ What an option agreement really is (and what it's not)
⇢ Who exactly is obligated (and who is not)
⇢ Common uses and best practices for deploying this in your day to day business
⇢ Why I don't typically recommend “lease options” as a buying strategy
⇢ Stuff like “equitable interest”, “principal interest” and your “bundle of rights”
⇢ What you can and can't do with an option
⇢ How to fill it out, step by step
If you don't care to know all that, then just feel free to download the form and add it to your arsenal (see below). But for those who want to learn the ropes on how to use this thing, this video will help you wrap your mind around what this is and how to best use it.
Press play…
Video Transcription:
Hey, what's up guys? JP Moses here. AwesomeREI.com—real estate investing for awesome people.
Today, I want to share with you a document that is critical in our real estate business. It is the right tool to pull out at the right time when a purchase contract just doesn't quite make sense. It's the option agreement.
You need it in your business, and I'm going to give you mine—the one that we use in our business—with a small disclaimer that you need to run it by an attorney and make sure it's kosher for your area.
Now, why am I doing this?
#1: These documents are important, and I want to share them with you. We like to let you swipe and deploy our stuff. It's part of our culture here at AwesomeREI. So we're gonna let you swipe and deploy this option agreement and your business.
#2: You need to understand how and why to use it and when to use it.
So, what I want to do first is walk you through what an option contract is:
- Why do you need it?
- When do you use it?
- How do you use it?
And then we're gonna walk through the document itself—I'm actually gonna show you how to fill it out. Now if you want to get the document, you're going to need to go to this post on our website, scroll down and leave a comment on the page. After you leave the comment you will get our document—a little give and take.
So you've got to go there and you gotta engage with us. Just leave us a comment. Details are on the page. After you leave a comment, you'll get access to my Option Agreement. You can swipe it, deploy it, and use it in your own real estate investing business to your heart's content.
Okay, let's jump in and take a look at my Option Agreement or The Real Estate Auction Contract.
Before I run through the document and it's very simple agreement, I'll show you exactly how to fill it out and tell you what I think are the best practices for doing so.
First, I'm going to run through what an option is. I don't want to assume anything. I know some of us are already interactively using options and maybe this is just going to be another form in your arsenal…
Others are coming right into this thinking, ‘I don't even know what the difference is between an option and a contract. What the heck is this so that I know how to use it?!’ So I'm going to cover that so you're armed and equipped to be able to swipe and deploy this little goody.
But first I gotta give you the standard disclaimer—it's always true, and I always try to remember to say it:
I am not an attorney. Even more importantly than that, I'm not your attorney.
Please consult your own legal counsel before you apply this. Just consider it for entertainment purposes until you consult your own attorney. Do your own due diligence. This is your business. Treat it like a business. What I'm going to describe may or may not work exactly the same way for you. Do what you need to do and get your docs checked out.
Okay, so the Real Estate Option Contract defined…
A real estate option agreement is a written contract between two parties—
the optionor, which is the seller of the property, and the optionee, which is typically the buyer or the potential buyer—in which one party buys the right to have the first chance of purchasing a piece of property at a specific price at some point in the future.
Now there's a reason that the right is in italics. I'm emphasizing you are not buying the property, necessarily. You're buying the right to buy the property. Therefore, it is your option. Get it?
So point #1: It’s the buyer's option not obligation to buy.
The seller, however, in a standard option contract like the one you're about to see, does have an obligation to reserve the property for you. And that is something called a Unilateral Agreement.
For those of you who've been through any kind of Realtor training or contract law class, you've heard of a Bilateral Agreement and a Unilateral Agreement. Bilateral means it is obligating to both parties the optionor the optionee in this case, or the buyer and the seller.
Side Note: If you ever get confused, just remember that the optionor is the give-or of the option, and the optionee is the receivee, the person receiving the option.
Okay, an option agreement typically is a Unilateral Agreement, meaning only one person, only the optionor—the giver of the option—is obligated to reserve that property under the terms of that option agreement for you.
For X amount of time, you don't have to buy—you have the option to buy during the term of the option agreement. Also, standard contract law applies even though this is not a purchase agreement or a purchase contract, it is still a contract.
So any of the standard stuff in a contract like a contract expiration date, for example. In Tennessee, a contract has to have an expiration date in order for it to be valid. If it doesn't, then it's not a valid contract. Legal consideration has to be exchanged for a contract to be viable. So keep that in mind—standard contract law applies to the option contract.
Also the option can be extended, it can be assigned, and it can be amended unless expressly prohibited.
Okay, if you're wholesaling, a lot of people will write their name as the buyer and then write “and/or assigns” afterward, which a lot of folks seem to think is what gives them the right to possibly assign that contract over to somebody else…
I'm not going to get into what assigning is if you don't know, but really by default, any contract is already assignable. It's extendable, it's amendable by default unless it expressly prohibits it. So keep that in mind
And as I said already: consult your attorney with whatever contracts you decide to incorporate into your real estate investing endeavors.
And, I would suggest you take a contract law class. I did that when I became licensed. And I've been through seasons. I'm not currently licensed. I was licensed for a number of years and there's pros and cons. That's a whole different conversation in and of itself…
But I remember when I first got licensed back in 2004, and one of the classes I took was a contract law class taught by a real estate attorney at the local Board of Realtors. It was two and a half hours, one long afternoon, and I learned a lot about what a legal and binding agreement makes. I recommend it. It's not exciting, but it's a good investment of a couple of hours and you don't have to be.
A lot of people don't know this, but you don't have to actually be a Realtor in order to take classes at your local Board of Realtors. You can just pay a fee. Usually it's a little higher fee than the members of the board, but you can just pay a fee and attend one of those classes. So look into that. That's my recommendation.
Common uses of an Option Agreement. Well, getting equitable interest with little or no risk. Now, an equitable interest is legal interest in a property, and it's something that you need in order to be able to market a property for sale before you actually buy it. I know this may sound a little technical. But this is important.
When I went to the Realtor school, this is the way it was explained to me: Property ownership is not one thing.
It's best to not think of property ownership as just one big right that you have. Instead, you should think of property ownership as a bundle of rights, kind of a bundle of sticks…
Imagine that you're holding a bundle of sticks under your arm. Maybe there's two dozen sticks under your arm. And each stick is a different aspect of property ownership. One stick might be mineral rights, one stick might be rights of easements—there's different aspects to property ownership and, cumulatively, the bundle of sticks—the bundle of aspects of ownership form this thing that we call property ownership.
Now I'm talking specifically to wholesalers here, you know the deal: You want to put a property under contract of some sort and you want to flip that thing before you even close on it.
You can't legally do that unless you have one of those sticks from that owner’s bundle. And the way you get one of those sticks in your possession is to get a contract or an option on the property, secure that, and then you now have equitable interest.
So it gives you the ability to get that equitable interest with really little or no risk to yourself. It's less risk than if you had a Purchase Agreement in place and you can market it for resale. As I said, you are a principal in the transaction. That's why you have that right. So it is a lower risk than a Purchase and Sale Agreement.
A lot of times, you'll hear the option used in conjunction with a lease called a lease option. And typically, a best practice for a lease option is: You have a lease and separately have an Option Agreement. I think it's a great way to sell property in a lot of cases.
It's kind of a rent-to-own type scenario where you can rent a property to somebody, give them a two-year option, and then maybe give them some rent credits that count toward their down payment.
And “owner financing substitute” or “owner financing light” is maybe one way to think about it. It's not a method that I particularly recommend for buying, because I think you don't have enough control in the transaction, unless it's a very short-term lease option. (I wouldn't recommend a long-term lease options for investors, but that's just me.) And I do think it is a solid exit strategy—lease options, specifically.
One great approach to using an option is:
- Find a good deal
- Tie it up with an option (and I mean tied up ethically). Get your equitable interest in return for having an option agreement in place, but always be honest when you put an option on a property—don't make the owner believe that you're going to be closing with certainty, that you’re going to be buying this property. Just be honest and say:
“You know, I'm not sure if this is going to be a deal or not. I have a network of investors I work with, and I’ve got to talk to a number of them and see if any of them are interested in partnering with me on this. So give me an Option Agreement so that'll give me time and the equitable interest that I need to be able to shop this around to my partners and see who's interested.”
I think that's a real honest, ethical way to go about it.
Side Tip: If your seller is nervous about letting you tie up the property with an Option Agreement, one of the things that you can do to skirt around that is to incorporate a secondary offer cancellation with a right of first refusal clause. Basically, that's a clause that in so many words is going to say:
“Mr. Optionor/seller property owner guy, let's do it this way. Give me the Option Agreement so that I have the equitable interest I need, but if somebody brings you another offer and it's better than my offer, then I will give you the option to cancel the Option Agreement. I'll give you the choice to cancel our Option Agreement as long as I get a right of first refusal to match that person's price.
So if I got an option for $100,000 on your property and somebody comes along and offers $101,000, you can't just take their offer. You have to come to me and say, ‘Hey, I haven't been marketing the property, but somebody brought me an offer for $101,000,’ and then I have to either match that and close or we can just part ways. Match their new offer or release them.”
It really can be a great way to help mitigate the seller's risk in those situations. This gives the seller the peace of mind that they need, and it gives you the equitable interest that you need to be able to go out and make a killer deal.
So having said that, let's jump in and I'm just going to blast through this agreement. It's very short and concise. It's not going to take long to go through.
So here we are with our Option to Purchase Agreement. Now I should say this is a standard option. It's a simple plain English option. This Option Agreement is made between the following parties, and of course, you're going to fill in the giver of the option. You're going to fill in their full name and after that, they’ll be ‘referred to as the optionor of the property. And under that is the optionee, that's the receiver of the option.
Next it reads: The following items are applicable to this agreement:
- The optionor agrees to grant an option to purchase to the optionee, the land and improvements known as XXX, which is where you put the full street address with city, state and ZIP.
- Optionor agrees that he/she will not attempt to enter into any other negotiations or returns for the sale of this property with any other party while this agreements in effect. If optionor receives any other independent offers on this property option, you will be notified immediately. (This is not quite the clause I was telling you about that gives the right of first refusal, but it’s close. It lets them know that you don't want them to going out marketing the property, but if somebody brings an offer, you’ve got to be notified immediately.)
And a lot of times, I can just verbally tell them that at that point I'll either match their offer or release them. And then sometimes, I'll actually put that part in writing if I feel like I need to.
- Upon agreement, the option would begin on the date of XXX and end on the date of XXX.
Meaning, you might sign this agreement today, but the option might not take effect until tomorrow for whatever reason. Basically, you need to have a definite starting and ending date for your option period… a couple of years, couple months, whatever seems to make sense on your transaction. So that's going to be your beginning date and the end date of your option.
- Purchase price will be XXX, and payable by certified funds at settlement.
Now let me say this—even though you're putting some of the details that you would put in a contract into this option, if you decide to come back and exercise your option to purchase, then you actually still have to put a Purchase Agreement in place.
So this is like a holding document in a sense. It's not a replacement for a Purchase and Sale Agreement later on. And it basically says, if you do go to contract, XXX is the amount of the property ($100,000 or whatever that you decide) to secure the option.
- Optionor grants optionee access to the above property for showing to prospective buyers,
contractors or appraisers.
Of course that's important! If you put an option on a piece of property, you’ve got to have access to the property.
- Optionor must maintain proper insurance on the before mentioned property.
Clearly it's important that they keep their insurance in place. I don't want them to think that I'm insuring it. They still own the property, so they should keep it insured.
- If the optionee purchases the property, the optionor will pay all closing costs.
Now this is obviously slanted in my favor, and usually what I'll do is I'll strike through that as an act of goodwill and say, “You know what? Let's just say that we'll split the closing costs or I'll pay the closing costs.”
It makes me look good to scratch through that one and say “optionee will pay all closing costs” or scratch through this word and write “optioned” and just let them know I'm willing to do that.
- Optionor grants this option for the consideration of $10 and other valuable consideration.
This is just basically a formality. This is the consideration that you're going to be putting down now depending on the deal and what you're negotiating and how savvy your seller is. You may have to put a thousand dollars option consideration down. This is what you risk.
Whatever you put down is what you have at risk. It's not an earnest money deposit, meaning, if you don't exercise your option, you don't get this back. This is a fee that you are paying for the privilege of holding an option on this property for xX amount of time.
Now $10 typically works with mom-and-pop sellers when you say, “I don't know if I have a deal here or not. I need to talk to people about whether or not they're going to be able to partner with me on this. Give me an option so I have the ability to go do that.”
Then I say, “$10 is a formality,” and I hand them a $10 bill. If you're dealing with some guy who owns a crap-ton of land like a few acres at the bottom of a planned interstate exit, then you're gonna have to put some down for a more serious option consideration.
It's not a deal killer, you’ve just got to see if it makes sense for the deal.
Fun Fact: I learned that there's other things besides money that can be legal consideration for an agreement like this. In fact, in Tennessee, love and affection can be considered legal consideration. I'm not sure how you document that, but it is legal.
The last thing you're gonna want to do, of course, is have the optionor or the owner, and you, sign and date the contract. And typically, rather than just having their names in cursive, I'll write out in manuscript underneath the cell phone numbers for each person.
And really that's it. What I love about this agreement is it's simple, it's plain English, it's all in one page. It's very unintimidating and not filled with legalease. So I like it for that reason too.
Now there's other option agreements out there. There's one you can get from your Board of Realtors that's probably 10 pages long and full of all kinds of bloat. So you could just use that standard Option Agreement and just scratch out what you don't like and add in what you do like and make it what you want it to be.
But ours is a simple one that you can use. And I hope this has been helpful to you.
If you have any questions at all, anything, please leave a comment. I love answering these questions, so leave us a comment with any questions or comments or remarks.
If you've had experience using an option and you have any comments that you want to throw in on your experiences, please do that as well. Thanks guys, JP out.
How to download my Option Agreement
First off, I’d like to ask a small favor:
Would you please “Like” our Facebook page if you haven’t done so already?
We actually posted the video above on our Awesome REI Facebook page, so if that’s how you got here, and you already “Liked” us there – well thanks for being awesome!
Otherwise, before swiping my Option Contract for your own arsenal, I’d be thankful as a monkey with a peanut machine if you’d kindly hit the “Like” button on our little Facebook widget thingy. Doing this will most definitely make you awesomer and probably better looking too.
Next, do this…
Ok, so how do you get your little paws on my Option Agreement? Easy peasy. Just leave a comment below sharing ONE THING you'd like us to give you in a future “Swipe & Deploy” post, and then Chuck Norris will hand it to you.
Nope, not kidding.
We all love to score a good tool or resource like this, right? Be it a form, contract, marketing piece, script or “what-have-you”… Something that’s already been time-tested and proven to work.
So here’s how this goes:
Step 1. Engage with us by sharing (in the comments below) at least ONE THING you’d personally really love to see us give away in the future as a “Swipe and Deploy” like this. We’ll take every single suggestion into consideration.
Step 2. Once your comment’s posted – viola! Chuck Norris congratulates you with a free download of my Option Contract.
So what are you waiting for?
Let’s do this. Leave your comment below. And don’t forget to be awesome.
G – R – E – A – T ! ! !
Option Contracts are tricky. Any help I can get is appreciated. If nothing else in real estate investing I have found out that knowledge is power.
I truly appreciate this free resource you guys Rock!
I am finding out that any assistance One can get to gain an advantage in real estate investing is appreciated. There are too many so called gurus out there that feed you a line of BS, talk you into a monthly membership fee and then don’t produce. Awesome REI produces, has integrity and actually tries to provided needed assistance.
Thank you for the kind words William! We truly enjoying providing Awesome content and helping investors be successful.
Thank you for your discussion of option contracts. I have a much better understanding of option contracts which should be very helpful in settling deals.
The most frustrating road block I repeatedly run into when seeking to get private money is that the lender wants PPI or an application fee up front. I have been told by many experienced investors that I should inform the lenders that I will not pay any application fee or ppi and that I will not make any repayment for 120 days at which time I will make a balloon payment that includes the principal loan amount and interest. I also have been told to advise the Private Lender that the subject property will be the sole collateral for the loan. Are there actually Private Lenders that will loan on this basis. If not, isn’t using OPM a misnomer and false inspiration for beginning investors? Any suggestions for the best source of OPM would be appreciated. I have plenty of properties that fit my purchase criteria but can’t spring the deal because of the lack of funds. So many of these ya hoos sending emails about helping you obtain OPM just want to charge you a monthly fee for services that are worthless. I am trying to kick start my business and need some legitimate assistance, not BS
@William—It’s true, many ‘private lenders’ are really hard money lenders under a different label, with a hard money program and charging hard money rates. Not to demonize hard money lenders, but that just ain’t ‘private money’… To me, a true private lender is an individual with capital they’d be interested in investing in your deals, not a company with a ‘lending program’ you have to fit into. Finding those folks can be harder nowadays than simply watching your emails or searching the internet.
A few years ago, Patrick kinda cracked a code on this, and made a little how-to he named “Private Money on Demand”…it’s a little sneaky way to uncover the true private lenders in your local market, not the ones who are advertising themselves as such. You should totally check it out and see if you think it’ll shortcut the private lender learning curve for you: https://awesomerei.com/privatemoneyondemand
The information that I get from your site is priceless enjoy watching all the videos and the learning experience thank you
Interesting video :-). I’d like to know more about scraping CL adds automatically, if that is possible 🙂
Awsome thank You
Great video, I have listened and seen many (6 that I am aware) none were as clear as your’s “AWESOME ”
Staightforward, concise, usable overview. Thanks
Thank u for educating me…
Great, easy to understand explanation!
Like the Simplicity of your Options Contract! Key but few moving parts. Hooray!!
Great offer. Thank uou. If you have any scriots, that would be great!!!
Hi Ronald, check out our other posts on the Blog page. We have lots of scripts and tools available.
WOuld live the option contract..I’d like to know if we can just assign it alone? or do we need to fill out a purchase agreement and attach it to the option and THEN assign it?
@Jaime—personally I don’t see any reason you couldn’t assign it as-is. My understanding it that any/all contracts (even this) are automatically assignable unless they clearly state that they are NON-assignable. But check with a local attorney first, just to be safe 🙂
Thanx – nice to have somebody looking out for our interests. Option contract is a valuable tool in the toolbox.
You’re welcome Ted! Let us know how it works for you.
I think it’s really great that people are grasping the opportunity to invest in real estate with the many different ways for pretty much anybody, despite your finances, to be able to invest in property!
I like the lease option but there’s one thing that no one covers and that is how do you start the conversation of a lease option with the seller or your approach on the subject of lease option what do you say or ask the seller to start the conversation of lease option to get the seller to give you control over the property to let you lease the property out to a tenant buyer when all I’m doing is managing the deal for me these are very important questions to get the seller to give you control of the property for three years what do you say and when is it said or asked. Please answer these questions in detail. Thank you this is what’s holding me back from doing a lease option and that is how do I get the seller to give me control.
@Matthew—punctuate much? 😉 Honestly, I’m not a big LEASE options guy…in my video here, I don’t mention that we use it that way, but as a viable alternative to a purchase agreement in special situations we face sometimes. So, I’m not the dude who can answer you well on the L/O pitch to sellers, but my goof friend Joe McCall is…look up Joe’s podcast “Real Estate Investing Mastery” and check him out… he’s a lease options rock star and can totally help connect those dots better for you. Tell him JP sent you 🙂
Thank You
I would like the opportunity to partner with someone
Great information! what is the best way to market for owners who will considerate option agreement?
@Mary—I don’t think it’s a matter of specifically marketing to sellers who’ll dig this vs. a purchase contract…we use it as a viable alternative to a Purchase Contract when the situation calls for it. As explained in my fancy little video here 🙂
Looks interesting
Looking forwared to putting the option agreement to use. Thank you
You guys are great! Like the content!
Great product!
Financing has been my problem as well as getting contacts made. I am so appreciative that you are giving us this option form
I am just getting started and I’m so excited. Financing has been my problem as well as getting contacts made. I am so appreciative that you are giving us this option form
You’re welcome, Kathie. Also be sure to check out our post on 33 Ways to Build Your Cash Buyer List: https://awesomerei.com/33-ways-to-build-a-ridiculous-cash-buyers-list/
Best comps calculator
Wow!!! So cool to offer this and the video was excellent!!! Thank you for sharing.
Great info. I’d like to know more about locating & maybe a checklist of things to say and ask probate attorneys.
Kewl, Lonnie—thanks for the idea. 🙂
A “find” seller or cash buyer post for advertising would be of great use.
THANK YOU
Proof that simple and honest is the best! great approach, easy to understand and execute.
Great content, great explanation and training! Thanks
Thanks for a concise simplified approach to Option Contracts. I have done a few of these with good success…a win-win!!
That’s great. Lynde! Hope this works for you!
Thanks so much been looking for a while for a good option agreement. God bless.
What happened to Dodd-Frank problems with lease options?
@Bill—don’t know much about that. I’m not a Lease Options guy…if you check out my video on this page here, you’ll get a better idea of exactly how I’m using this Option agreement as a viable (sometimes better) option to a purchase contract.
U make it simple to overstand.Think U for keeping it simple.
Excellent!
Great strategy! I look forward to getting the free download of your Option Contract.
I am looking forward to a good option agreement that is up to date with new law
@Gar—specifically what new law are you referring to?
Looks like a good potential option
Word for word what to say
Wow. What an awesome product. Thank you
Great contract. short and easy to understand and fill out
Straight forward contract. Awesome!
Thanks,
It’s Awesome that you not only give the document for free, but you take the time to do a video to explain the document.
Glad you enjoyed it, Pat!
very helpful thanks
Great Info!
Thank you
Your videos are great, not only informative but easy to understand
Thank you for the free downloads…
Another great video. Thanks
Show us how to find more buyers for wholesale deals!
Hey Josh, you may want to check out our 1-Minute Leads software. It’s a great tool for quickly building a buyer’s list in a city. Send a message to support and let Charity or Pat know that I said to send you the invite link.
– Patrick
Join various clubs on Facebook and advertise directly to them.
Hwy Chris, networking on social media is good, but you do not want to be seen as “an advertiser.” Work on building relationships in those groups and marketing what you have to offer to individuals as it makes sense.
Amen! You helping one another means everyone is blessed. Thank you!
Yes please! Thank you for the help. Wonderful offer. Blessings, Debra
this is great info. its got my attention
too cool.
live long and prosper!
Thanks, David. The needs of the many outweigh the needs of the few, don’t they? 😉
Knowledge is power and you are a powerful force.
amen steve!
Video not playing. Can you e-mail it? Tks
Hey O, we tested and looks like all is working fine on our end. Try reloading the page and/or a different browser.
– Patrick
Great stuff!
Thanks Patrick
Awesome!
Wow, I recently needed an Option Agreement and the generic ones available did not make me happy. Looking forward to yours and b/t/w, open your doors. I’m heading to SC pretty soon and I am going to stop by for an AWESOME visit.
Thanks—
Tom Daniel
Awesome training, so organic, I like that, can’t get enough, keep up the good work guys.
Hugh
Since we have been having so many issues nationwide as wholesalers using assignment contracts I love using the option. Do you market the option or the property to cover legally? Im not asking for legal advice just asking what you do
Thanks
Hey Jeff, if you’re wholesaling, market the option contract, not the property.
… this is not legal advice 🙂
– Patrick
Thanks for sharing
great info
TNX AGN. The hits just keep comin’…
Great video!! Explained a lot! I would love to see some more info on how to avoid the due on sale clause. Thanks.
Hey Joshua, if you’re buying properties subject to, it’s smart to take title in a land trust. That way, on public record, it looks like the homeowner just passed their property into trust (rather than selling to a new buyer). Because of the Garn–St Germain Depository Institutions Act of 1982, passing a property into trust doesn’t trigger the due on sale clause.
Also, this is not legal advice 🙂
– Patrick
I really needed an Option Agreement for those certain situations.
Thanks
Tony Avery
Great stuff keepsharingplease. I have wanted to do this for a long time. It is nice to have a mentor to show the way.
You can do this, Barbara! Let us know if you need any help along the way.
much thanks for sharing
Terrific, thanks for sharing.
I love it, This addresses issues that some gurus have tried to promote at making wholesaling illegal, unless you do as shown in a course that they just happen to have available. Thanks JP!
Good
Thanks for the Info on Options
Option with right to match very flexible way to get alot of properties into pipeline, Thanks Bob
I thought the explanation and the option agreement was easy and straightforward.
Great, Theron! Glad you find it useful,
excellent material as stated before.
Good clean option contract. Well explained. Thanks
You’re welcome, Wayne!
Awesome.
As always, thanks JP for sharing your documents with us.
I would like to see an example script or sample calculation breakdown when in price negotiation with the owner.
This would include the initial asking price of the owner, then subtracting the closing costs, repair cost, holding costs, etc. on down to the MAO.
This is a good tool to use to get the PSA signed when sitting down with the owner.
Awesome Option Contract, would like to see a Lease Option agreement, if ever available
Super option agreement!
This was great video. Thank you for share with everyone.
Thank you I honestly see why your company is called Awesome REI. You guys are awesome your explanation of what an option is was very helpful thanks again
LOVE the kind feedback, Annette. Thank YOU. 🙂 **blushing a little**
Can’t thank you enough.
You are very welcome, Janet!
I want you to share you JV or the agreement you use to do the virtual wholesaling bringing buyers/sellers together. OH and maybe the NCND if you use one
I work Investors as a Realtor and this is very helpful! Thank Yoy!
Love your stuff! Thanks
Great info Thanks
A checklist of A thru Z to make sure we aren’t leaving anything out that is important!
How to motivate Property Scouts!
And so simple… Thank you.
Excellent share!
Great info! Thanks JP and the hold Awesome team. We are grateful that you share useful free information with us investors. Believe and you can Achieve!!!
Happy (profitable) Investing
Kenneth Sanders
Memphian
Hey Kenneth, You’re welcome! It truly brings us a lot of JOY to provide awesome and free training and tools. Glad you are finding them useful!
Great video JP straight forward, yes an Option Agreement Contract Is a must have.
Second download, great stuff, thanks so much!!
Great Detail instructions.
good stuff
Love this! I’d love to see more about buying fire damaged, flooded properties
Thanks, Ed! Also be sure to check out the post on the Burned Houses letter! https://awesomerei.com/heres-burned-house-letter/
Great info. Thank you.