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Contract-to-Closing
Introduction
How to Get the Most From the Course + Introduce Yourself! (3:54)
Important Disclosure (0:33)
What This Course is All About (3:52)
Diagram - Contract-to-Closing (5:32)
Big Red Flags & Mistakes to Avoid When Buying Properties (6:16)
Coach's Acquisition Closing Checklist (DOWNLOAD)
Course Workbook (DOWNLOAD)
Module 1: How to Put a Deal Under Contract
Intro - What We'll Cover in this Module (2:01)
Lesson #1 - What to do BEFORE going under contract (7:01)
Lesson #2 - The Benefits of Getting a Property Under Contract (3:00)
Lesson #3 - The Team Members You'll Need to Buy a Property (9:28)
Lesson #4 - Contracts 101 - What Does it Mean to Be "Under Contract" (5:54)
Lesson #5 - Key Contract Vocabulary You Need to Know (8:25)
Lesson #6 - Overview of the Paperwork You Need to Buy a Property (2:54)
Lesson #7 - Different Paperwork For a Listed vs Off-Market Property (4:53)
Lesson #8 - How to Put a Property Under Contract (5:49)
Lesson #9 - Coach Reviews a Completed Sample Contract (Section-by-Section) (16:25)
Sample Paperwork
Module 1 Quiz
Module 2: Due Diligence
Intro - What We’ll Cover in Module 2 (3:08)
Lesson #1 - The Goal of Due Diligence (2:33)
Lesson #2 - The Timing of Due Diligence in the Closing Process (3:46)
Lesson #3 - Overview of Pre-Offer Due Diligence (2:00)
Lesson #4 - Pre-Offer Due Diligence - 1 - Market Analysis (3:29)
Lesson #5 - Pre-Offer Due Diligence - 2 - Value Estimate (8:49)
Lesson #6 - Pre-Offer Due Diligence - 3 - Repair Estimate (4:24)
Lesson #7 - Pre-Offer Due Diligence - 4 - the Red Flag Checklist - Intro (1:57)
Lesson #8 - Pre-Offer Due Diligence - 4 - the Red Flag Checklist - General Location (6:00)
Lesson #9 - Pre-Offer Due Diligence - 4 - the Red Flag Checklist - Lot (9:00)
Lesson #10 - Pre-Offer Due Diligence - 4 - the Red Flag Checklist - Building (4:52)
Lesson #11 - Pre-Offer Due Diligence - Financial Analysis (i.e. Running the Numbers) (1:36)
Lesson #12 - Overview of Under Contract Due Diligence Period (2:49)
Lesson #13 - Under Contract Due Diligence - 1 - Verify Value & Rent Assumptions (4:34)
Lesson #14 - Under Contract Due Diligence - 2 - Property Walk-Through (4:37)
Lesson #15 - Under Contract Due Diligence - 3 - Verify Repair Costs (10:32)
Lesson #16 - Under Contract Due Diligence - 4 - Tenant/Lease Due Diligence (6:49)
Lesson #17 - Under Contract Due Diligence - 5 - Financial Due Diligence (6:32)
Lesson #18 - Under Contract Due Diligence - 6 - Insurance (0:55)
Lesson #19 - Under Contract Due Diligence - 7 - Survey (5:13)
Lesson #20 - Under Contract Due Diligence - 7 - Home Owner Association (HOA) Due Diligence (0:53)
Lesson #21 - Under Contract Due Diligence - 7 - Zoning/Local Laws (3:43)
Lesson #22 - How to Make a Go or No-Go Decision After Doing Due Diligence (3:38)
Lesson #23 - How to Renegotiate (or Walk Away) After Finding Problems During Due Diligence (3:57)
Due Diligence Checklist
Pre-Offer - Deal Worksheet + Back-of-Envelope Cheat Sheet
Module 2 Quiz
Module 3: Financing / Funds
Intro - What We’ll Cover in Module #3 (1:20)
Lesson #1 - How Financing Fits Into the Big Picture of Closing on a Property (2:30)
Lesson #2 - How Traditional (aka Bank) Financing Works (4:14)
Lesson #3 - How Private Financing Works (Including Loans From Self-Directed Retirement Accounts) (11:54)
Lesson #4 - How Seller Financing Works (2:39)
Lesson #5 - Financing Vocabulary - Promissory Note (aka Debt) (6:49)
Lesson #6 - Financing Vocabulary - Mortgage / Deed of Trust (3:08)
Lesson #7 - Why (& How) You Should Study Your Loan Paperwork BEFORE Closing (5:02)
Lesson #8 - Financing Vocabulary - Down Payment (3:00)
Lesson #9 - Financing Vocabulary - Closing Costs (4:14)
Lesson #10 - Financing Vocabulary - Interest Rate (12:19)
Lesson #11 - Financing Vocabulary - Amortization Spreadsheets & Calculators (11:48)
Lesson #12 - Financing Vocabulary - Balloon Payments (3:19)
Lesson #13 - How Much Does a Closing Actually Cost You? (10:01)
Lesson #14 - The BRRRR Strategy - a Great Technique if Used Carefully (5:46)
Financing Documents, Sample Closing Costs, & Links
Module 3 Quiz
Module 4: Preparation for Closing
Intro - What We’ll Cover in Module #4 (4:10)
Lesson #1 - The Keys to a Smooth, Stress-Free Closing (3:54)
Lesson #2 - What Actually Happens at a Real Estate Closing? (7:48)
Lesson #3 - The Closing Instructions Letter (7:01)
Lesson #4 - How to Use Coach’s Acquisition Checklist (24:51)
Lesson #5 - Closing Vocabulary - Real Property (9:14)
Lesson #6 - Closing Vocabulary - Deed to Property (5:55)
Lesson #7 - Closing Vocabulary - Legal Description (2:37)
Lesson #8 - Closing Vocabulary - Title (aka Ownership) (5:23)
Lesson #9 - Closing Vocabulary - Title (“Tenancy”) (2:41)
Lesson #10 - Closing Vocabulary - Special Types of Ownership (4:34)
Lesson #11 - Closing Vocabulary - Title Investigation & Title Insurance (5:34)
Lesson #12 - Understanding the Settlement Statement at Closing (9:00)
Lesson #13 - Common Closing Problems & Delays (8:39)
Closing Documents & Links
Module 4 Quiz
Module 5: Post Closing Details
Intro - What We'll Cover in Module #5 (1:42)
Lesson 1 - Begin Repairs ASAP (4:20)
Lesson 2 - Onboarding Existing Tenants (5:15)
Lesson 3 - Bookkeeping & Recordkeeping (5:41)
Lesson 4 - Thank You Notes (3:44)
Lesson 5 - Debrief - Lessons & Improvements (3:54)
Module 5 Quiz
Conclusion
Final Advice From Coach + Student Survey (4:37)
BONUS: February 2021 Live Office Hours With Coach
Thursday February 11th 2021 (Instruction to Join + Replay)
Thursday February 18th, 2021 (Instruction to Join + Replay)
Thursday February 25th, 2021 (Instruction to Join + Replay)
Module 1 - Student Questions
What should you do when advice from your agent conflicts with advice from your property manager? (4:08)
Can a seller back out of a signed contract? (3:55)
How much time should you request for a due diligence period? (4:01)
How can you back out of a contract as a buyer, if needed [Coach’s sample due diligence clause]? (6:54)
Do you need an estoppel letter when buying with existing tenants? Wouldn’t a current lease be enough? (2:24)
What should I do if a seller won’t cooperate during my due diligence contingency period? (9:15)
Should you buy a property in your name or in an LLC? (3:41)
Module 2 - Student Questions
What would you do about a property with ceilings under 7’ tall? (0:49)
Why is an inground pool a negative for you? Is above ground ok? (1:57)
Do you consider the age of a property when deciding to buy it? (2:04)
How do you know the difference between problems that are opportunities and others that you should walk away from? (1:48)
Is finding lead based paint a deal killer? (1:04)
Should you buy a property with a septic tank? (1:36)
Can I immediately raise rent on existing tenants after purchasing a property? (4:04)
What happens if you buy a mobile home park and the owner of a mobile home won’t pay your increased lot rent? (1:12)
What should you do if the seller won’t share tenant & other information? (1:49)
Have you ever bought a property with a title issue or encroachment? [Chad’s bad title story] (1:21)
What are the absolute, must-inspect big red-flag items that could be a deal-killer? (4:58)
What about due diligence for ADA and Fair Housing Compliance? (1:40)
Can you negotiate for a seller to pay your closing costs? (1:42)
Module 3 - Student Questions
How do you negotiate private or seller financing longer than 5 years? (3:22)
How do you draw up a purchase contract for seller financing? (1:55)
Does the property need to be free & clear of debt for seller financing? (1:48)
What’s the benefit of seller financing? (4:02)
What happens with seller financing is the buyer stops making payments? (0:41)
How do you approach a seller asking an attorney for advice on a deal? (0:55)
What’s your opinion on balloons (i.e. early payoffs) with private or seller financing? (2:27)
Are there risks if your lender sells your mortgage to someone else? (0:38)
Do you need 10x the capital expense reserves for 10 properties? Or can you reduce it? (1:55)
How do you feel about having a line of credit for a reserve instead of cash? (1:18)
Is the cashflow lower after a BRRRR deal? (1:50)
Where is the best place to shop for landlord insurance? (1:52)
What are the pros and cons of using a HELOC vs a cash-out refinance? (2:07)
How do you find a good local attorney in your market? (1:51)
Discussion of due diligence and red flags on a potential triplex rental (6:38)
How do I filter and choose the best lender for my property loan? (3:34)
Module 4 - Student Questions
Can you have multiple properties on one mortgage loan? (3:02)
Why would you want title insurance for more than the purchase price? (2:29)
At what point in the process do you send closing instructions? (1:14)
What is the purchase agreement I send along with the closing instructions? (1:01)
How long can a property be vacant before you need a vacant insurance policy (1:05)
What is the difference between a title and a deed? (1:12)
Can you have one deed that conveys title to multiple properties? (0:54)
Do you recommend a final walkthrough the morning of closing? (0:45)
BONUS - Office Hours
Office Hours 2-11-21 (118:25)
Office Hours - 2-18-21 (116:13)
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Lesson #19 - Under Contract Due Diligence - 7 - Survey
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