Contracts for Earnest Money Deposits | Gator Method
ฝัง
- เผยแพร่เมื่อ 22 มิ.ย. 2023
- Contracts are the most important part of real estate transactions. Learn why policy doesn't always dictate success and how to navigate the complexities of earnest money deposits. I'll share a real-life example of a sub 2 deal, where I borrow $5,000 for the EMD, and discover the crucial role of gator lenders in making these deals possible. Learn contract language, commission instructions, and the power of creative financing. Don't miss out on this exclusive opportunity to expand your knowledge and grow your real estate portfolio.
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❎ I am not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a TH-cam video for entertainment purposes ONLY ❎
Absolutely correct. Earnest money will always be required. It puts skin in the game for the buyer and protects seller if buyer defaults on the contract.
I had an EMD deal today that the buyer wasn't using Pace's Purchase Contract so we sent the Irrevocable escrow instructions to the seller to protect my money. Regardless of the state, ALWAYS check with the Title Company because as Pace said, it might be the specific Title Company's policy to do so. Thank you for reinforcing this information. Appreciate all that you do bro!
Wasn’t using Paces contract because it costs tens of thousands of dollars unless one of you in his class is secretly giving it away which would be awesome. People are gonna use something cheaper.
Pace you freaking Rock!
When I start thinking that I'm almost done with the Gator training...there comes more and more videos that I can't stop watching! There's so much information that Pace constantly shares. Very thankful for that.:)
any success with the gator method 5 months later?
solid info!
love the "no edit" style of the video.
Your So Awesome Pace
Great content!
Thank you for just sharing the information! And yes! Edits to a minimum! Shows your passion in real time
Thanks for watching!
@@PaceMorby yep
i have gone under contract
without an earnest money
deposit and i essentially
arranged it as a no money
down payment transaction
and i can deploy this all day
Every day
Thank you for giving & giving & giving. I'm sure it's exhausting sometimes!
Appreciate the info.. I get it!! 3 mins minimum.
This is still a challenge for many. Much needed. Thanks.
So dope
Just bough the 🐊 course two days ago. Catching up on the education vids/vault videos! Thanks for the walk through of deals Pace!
Awesome ! If you don’t mind how much is the course? Thank you in advance !
Glad you like them!
How much? $
@@kaefaeusavlog9509 just shy of 3k. I know one of the mentors said the price will be increasing very soon.
@@evankaden657 just shy of 3k. I know one of the mentors said the price will be increasing very soon.
Thank you for sharing more info that will better my business!
Hey Pace
I'm really interested in becoming a gator lender in the near future. There's one thing I don't understand about the EMD lending process. So, if I'm the buyer & I don't have the 5K EMD to begin with & I need to borrow it from a gator lender how or where I get the money to pay that lender back the 5K "plus his or her lending fee"???
See you this Saturday June 24th. Got my link saved. I’m ready to hit the ground running.
He, see you there too? 🤔
Who decides the earnest money amount?
is her amount of 3000$ guaranteed in the contract aswell? or is there s separate contract?
Gett 500k within 2 years seems possible🎉
How can I become a Gator? Is it too late to join? Pace, can you have someone reach out to me.
Not getting earnest money will always cost you not to mention without money it is not a valid contract.||||||| What happens to the earnest money if the next buyer backs out an the seller keeps the money?
The lender has to verify earnest money to give credit so I need to understand this. Trying to understand how this all works
What are the terms on that $44k hard money loan and how does it get repaid? I'm assuming its a buy hold and rent
He mentioned in 1st video that his hard money lenders are happy with 10-12%.
As far as repayment, the repayment is either refinancing with bank, or since interest rates are so high, Pace could pay them off with a sale of another property somewhere in his portfolio
Sounds like I need to get out of flipping and get into lending EMD
Im a Gator. Hmu if you need help!
@@theabdielgarcia not with a mustache like that.
facebook always says content not available, been trying to join
The free Facebook group? Make sure you answer the membership questions and agree to the group's rules.
I am an agent...no end NO DEAL UNLESS......lol
how do you advise the seller not to involve the bank on a sub-to
Just explain to them either with a story or facts why it’s better for all parties…
Do you sell your contracts?!?
Is there a link to part 1?
th-cam.com/video/FotSodGIVM8/w-d-xo.html
How do I get my hands on gator lending contract?
Squad up with a student in the free Facebook group. paceapproves.com/communityytc
I only put 500 EMD
You'll get more contracts with more EMD down, it shows the seller you are serious and not trying to scam them because you'll have skin in the game.
Do you need an LLC to be a Gator lender?
Highly recommended
I want to be a gator i got money just sitting in a account
You don't use your own money
@@ecamacho7726 do you gator lend??? Maybe we can have a convo
Yeah, time to get off my ass and start lending I guess
Solid video however i am about to pay you $3900 and your lying about a flight. Why not say " I have some people in front of me right now, can you expedite this?" Hmm.