Watch this teaching lesson by Ron and our D.A.M. reporter Lauren. In this lesson they go over any additional forms and follow up you will need to do with your prospects.
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Meta
I have been a member for a while now and have finally made the decision to take action. It takes some of us a while to make the decision to get out of the hole. Thanks for being there with very good information.
@Geri Bonvillain congrats on your action decision How has it been going what have you tried what worked what didn’t we want to hear all about it
That’s awesome to hear! It takes guts to do this business and if you don’t fee completely confident about your abilities, it’s hard to get started.
We love listening to the audios over and over again to catch anything that we may have missed.
It helps to have many exit strategies in this business.
I agree with you Matt. Well said.
I agree Geri. I have been where you are at. I just had to light a fire under my own butt before I began. It is scary but what isn’t scary when you start something new. I am glad you made the dicision to get started.
@ Matthew Hell i would say Matthew you are so right and all of us have been where Geri is too. It is scary scary when you start something new but it’s the only way to progress.
Congratultaions, Geri, on deciding to move forward and take action! You’re like me in that I’m wrapping my head around all the lessons and getting a good grasp so that I learn the rules of the game and will hit the ground running when I decide to jump in. Good luck and let us all know how you do! ~Bella
Very helpful thank you
I have to agree. All this is fantastic and exactly what I need to get things moving
@Thomas Erb It is fantastic and exactly what we need to get things moving. How have you done with this so far? have you got that shut up check?
This is terrific stuff. Curious to know if the lender ever executes the due on sale clause. Of course I’m sure you’ve got that covered somewhere. On to more training!
I have never seen it happen or heard of it happening.
@Christopher Kua while the lender has a right to unless payments stop and it goes into default they will almost never even check it they re too busy
Thank you for covering the needed forms to do a deal. There are so many areas that are incomplete in my mind.
@Freddie McMorris this is why settling at a attorneys office is key Make sure they understand what you are doing and if something is missing or wrong it gets fixed at closing
GREAT!! These skits are really helpful and informative!!! Thanks Ron!!
@ Valerie Newman I agree these skits are really helpful and informative. Ron always has a good teaching method for this kind of thing
These skits are so much fun. It’s great to see how much fun these guys are having, and I know they like their jobs, Especially Ron.
Thanks both for creating a fun as well as excellent learning atmosphere for all us at the Gold Club.
You are changing lives.
Yes, I agree. Learning the techniques by watching a master do it is the best way.
One of my favorite videos. Lots of questions answered. CYA everyday. Thanks Ron and Lauren.
Ron and Lauren skits are always very helpful. CYA everyday is a good way to do business and keep out of trouble while making money.
Thanks Ron and Lauren for additional info on forms needed at and after closing and explaining what to record and insurance. Great Info!
Ron and Lauren additional info on forms needed at and after closing and explaining what to record is very valuable indeed! So is an attorney to close
Very explanatory! Excellent! I do have a question: I understand the Attorney will record the Deed; But Will the Attorney have the owner fill out the Warranty Deed to Trustee?
@Aliyah Nicole the Attorney will have the owner fill out the Warranty Deed to Trustee or any other document needed whether it is to be recorded or not
Do we need a real estate lawyer or will any attorney work?
@Wally Witham no matter what area you live in I can state categorically you should always use an attorney who specifically handles real estate You put yourself at risk if you don’t
@Wally Witham this is a good time to put your network into action to use the right guy If the attorney is not familiar with what you are doing he’s the wrong guy
I think a Real estate lawyer familiar with real estate is the besyt way to go.
@Taj Mohamed a Real estate lawyer familiar with real estate is the best way to go it’s the only way to go to protect yourself and your business
thank you Ron is a completed package
Great videos. However, I looked for the CYA payments in arrears form in the Resources tab, but could not find it.
@Pavlo Prokop did you ever find the CYA payments in arrears form in the Resources tab? i have not found it but i have the forms CD so i get mine from there
hi Arthur, how did you get the forms CD?
very important info. this was insightful. Thanks Ron.
Great as always.Thanks Ron and Lauren.
Very comprehensive.
Thanks Ron and Lauren I needed to watch this video!
@James Noullet i agree i enjoy watching the skit videos over and over to make sure i feel really comfortable about doing myself in real life without worry
Good stuff. Soon I’m gonna start sending yellow letters.
@Miko Rudzki way to how have sending yellow letters been working for you so far? tell us what kind of homes you are targeting and what has the response been?
Thank you for being so thorough in explaining how to fill out all these documents and get those ready for the attorney.
@Anita Perez is right being so thorough in the skit explaining how to fill out all these documents and get those ready for the attorney
is great for us
Great information, as always.
Oh, and I really appreciated the tip about never giving the seller all of the money until they move out. I absolutely know I would have learned that one the hard way if I hadn’t watched the video.
@Ron Caruthers good for you Ron way to use the GC to keep yourself out of trouble in a deal I enjoy watching these over and over just for that reason
These videos with Lauren are really good – Lauren being new to how Real Estate transactions go, asks questions like we might ask, and the communication between Lauren and Ron is very comfortable and plays well on screen – thank you both!
Is lauren family of Ron’s?
@Cheryl Brozovic Lauren is really good for these video skits Lauren being new to Real Estate transactions asks questions like we might ask or a seller
Anyone know where can I locate the ‘Disclosure Regarding the Real Estate Transaction’ documrnt
@D.L. Cote i am not sure what the Disclosure Regarding the Real Estate Transaction’ documrnt or document is? Did you find it in the forms?
like these skit videos
Great stuff!
IN North Carolina all Option Agreements have to be recorded, effective October of 2011. You have three days from the day of signature to record them!
@James Baxendale Option Agreements having to be recorded is not a bad thing as long as you are doing business in fair and honest manner, it’s just the state digging for money
I think a lot of these forms are in the control without ownership manual if any of you members have. But double check thatyou have the updated on on the gold club site.
@Matthew Hell i agree a lot of these forms are in the control without ownership manual but the key is make sure you settle with a good attorney
Will filing a Affiliated & Memorandum Of Agreement, Regarding Real Estate cause the Lender to use their “due on clause”?
I will have to watch this again. I’m sure it will all eventually come together. LLL FFFF
These are very important forms to give to your attorney.
Nick Slesson.
Will need to watch this a few times to remind myself about which contracts are for which protections. Thanks, Ron.
Good lesson.
Where are the Land Trust Agreement forms, please?
Another great role play video. Thank you. So valuable.
We Record The Affidavit If We Feel The Need,If There Moving Out Of State.& Seem Shady.Now That Cloud On Title,Will That Give Us Trouble When Selling To A Tenant Buyer For Us?
I’m thankful to be a Gold Club Member and have all this valuable knowledge available to us!
If you are doing a sandwich lease option and you are staying in the deal, do you verify periodically that your tenant buyer has a current renter insurance policy?
Why do you wait to have them signed the sellers acknowledgement at closing? Shouldn’t it happen right away?
When does closing happen in a Lease/Option deal? After you get a tenant-buyer, or after your tenant-buyer performs on the note? Isn’t that a couple of years later?
Thanks for all the valuable info and reminders! One question. Part of the agreement is that the seller continues to pay the mortgage payment for 3 months before the buyer takes over. Is there anything in writing to cover if the seller stops paying the payments before the 3 months are up?
Hi Ron,
This is very informative. Do I need to ask an attorney to modify the template agreements for my state to be in full force, or are your agreements ready to use? I would prefer to just use them standard, but would like to be safe. Thanks!
Nate, you can view Ron’s answer to your question here: https://www.ronsgoldclub.com/resources/ask-ron-2016-04-22
Dear Pam,
Thanks so much for the reference, I am in awe Ron personally addressed my questions, I’m so flattered. Also was my first time meeting today at fast track and he autographed his book. Such a cool and wise guy!
I am grateful to have met Ron today 🙂 thanks for the inspiration!
Simplified… Attorneys do the recording of agreements. But, there are three additional documents that the investor should get signed at closing including Seller’s Acknowledgement (CYA to avoid claims of misrepresentation when taking over debt that is current), Disclosure Regarding Real Estate Transaction (CYA if in Arrears authorizes release of mortgage information), and Addendum for Possession After Closing. Also, not signed at closing, is Affidavit & Memorandum of Agreement Concerning Real Estate (clouds title if recorded on public record in event that Seller might try to sell behind your back). Note that attorney records the Deed. Never record the Lease Option Agreement as it would make the buyer information public. If buying with a Lease Option, record the memorandum, not the agreement.
gOOD STUFF !!!
DISCLOSURE REGARDING REAL ESTATE TRANSACTION is renamed ‘CYA-Letter-for-Houses-in-Arrears’ when you download it.
LOVE your wardrobe, Lauren! You should be a personal shopper for investors:) Great questions to ask Ron, too…I’d never have guessed that we don’t show up at closings…that’s the Attorney’s role…who knew!
These training lessons are outstanding. They are helping me get a better overall understanding of the process. Thanks for the information Ron and team.
Thank you Ron and Lauren…
Excellent building blocks…got to get the foundation poured before we can frame the house…
Thanks Ron & Lauren for the helpful tips!
This is great information. Thanks
Love how this information is layed out step by step…