If You Wholesale Houses - You Should Be Doing Novations: Part 1 w/ @NovationKing

Рет қаралды 8,782

5 ай бұрын

If you wholesale houses, novations are a must-learn strategy. Join Jerry Norton and Rich Wonders on this special masterclass series. On this part 1 video - learn how novations are different than cash assignments and why you should be doing novations.
FREE Novation Kit:
novationkit.com
JV with Rich on Novation Deals:
novationdeals.com/
Novations Training Course (15% Discount Link):
www.novationking.com/a/214777...
Coupon code: Jerry
Novations Masterclass Playlist:
• Novations Masterclass ...
With over 2,500 Videos, this is the #1 channel on KZfaq for all things wholesaling and flipping. SUBSCRIBE NOW! / @flippingmastery
Podcast fan? Listen to your favorite Flipping Mastery TV videos on your favorite podcast platform! FlippingMasteryPodcast.com
Jerry Norton went from digging holes for minimum wage in his mid 20's to becoming a millionaire by the age of 30. Today he's the nation's leading expert on flipping houses and has taught thousands of people how to live their dream lifestyle through real estate.
**NOTE: To Download any of Jerry's FREE training, tools, or resources…
Click on the link provided and enter your email. The download is automatically emailed to you. If you don’t see it, check your junk/spam folder, in case your email provider put it there. If you still don't see it, contact our support at: support@flippingmastery.com or 888) 958-3028.
Get Access to Unlimited Free Property Searches and Downloads:
joinpropwire.com/
Get Paid $10,000 to find deals for Jerry:
www.My10kCheck.com
Wholesaling & House Flipping Software:
GetFlipster.com
Get Unlimited Seller Leads For Less Than A Penny!
getunlimitedsellerleads.com
Get 100% funding for your deals!
UseJerrysCash.com
Advanced Mentor Program:
FastTrackwithJerry.com
Flipping Mastery TV Podcast:
open.spotify.com/show/3OHpade...
FREE 8 Week Training Program
8weekacademy.com
Get Paid $8700 To Find Vacant Lots For Jerry:
flippingmastery.com/lfyt/
FREE 30 Day Quickstart Kit
MyQuickstartKit.com
FREE Virtual Wholesaling Kit:
VirtualFlipperKit.com
FREE On-Market Deal Finder Tool:
MyDataCruncher.com
FREE Purchase & Sale and Assignment Contracts:
WholesalerContracts.com
FREE Cash Buyer Directory (100 Free Cash Buyers)!
freecashbuyers.com/
FREE Lot Finder Tool:
vacantlotfinder.com
FREE Craigslist Deal Finder Tool:
flippingmastery.com/craigslis...
FREE Comp Tool:
CompMyDeal.com
FREE Funding Kit:
MyFundingKit.com
FREE Wholesale JV Contract:
flippingmastery.com/cwyt/
FREE Wholesale NDNCA Contract:
flippingmastery.com/ndyt/
FREE Affidavit & Memorandum of Agreement:
flippingmastery.com/lpaffyt/
FREE Termination of Contract and Price Reduction Addendums:
flippingmastery.com/tlyt
FREE Option Agreement:
flippingmastery.com/oayt/
FREE Agent Offer Sheet & Scripts:
AgentOfferScripts.com
List it or flip it agent scripts:
flippingmastery.com/lp2019/list/
FREE Motivated Seller Scripts:
FreeSellerScripts.com
FREE Cold Calling Scripts
(& 20 Powerful Phrases to Build Trust):
flippingmastery.com/ccs/
FREE Blueprint & Cash Buyer Scripts:
flippingmastery.com/cbsyt/
FREE LLC Flipper Kit to Overcome a No-Assignment Clause:
LLCFlipperKit.com
FREE Deal Analyzer Software:
MyDealAnalyzer.com
FREE Instant Offer Calculator:
FreeOfferCalculator.com
FREE Rehab Estimator Tool:
flippingmastery.com/reyt/
Free Contractor Agreement:
flippingmastery.com/cayt/
FREE Report: 67 Ways to Find Motivated Sellers:
flippingmastery.com/67yt/
FREE Zillow Motivated Seller Key Word Master List
flippingmastery.com/zkyt/
FREE Creative Financing Hacks Guide:
CreativeFinancingHacks.com
FREE Creative Financing Wholesale Calculator:
CreativeFinancingCalculator.com
FREE Subject To Contract Pack
& 30% Off Discount Code for Full Service Closings:
flippingmastery.com/subyt
FREE 6 Figure Flipping Business Blue Print and 10 Steps to Your First Deal:
flippingmastery.com/6fyt/
FREE Best Selling Wholesaling Ebook:
flippingmastery.com/ebook-10k...
FREE Best Selling Fix and Flip Ebook:
flippingmastery.com/free-train...
FREE Best Selling Flipping Notes Ebook:
www.FlippingNotesEbook.com
FREE Wholesaling Apartments Calculator:
flippingmastery.com/wacyt/
FREE Rehab Checklist:
flippingmastery.com/rplyt/
FREE Virtual Property Walkthrough Guide & Instructions:
flippingmastery.com/vwgyt2/
LET'S CONNECT...!
FACEBOOK:
/ flippingmastery
INSTAGRAM:
/ flippingmastery
#FlippingHouses #WholesalingHouses #FlippingGenius

Пікірлер: 36

@FlippingMastery 5 ай бұрын

FREE Novation Kit: novationkit.com *Once you enter your email, it’s automatically emailed to you. If you don’t see it, check your junk/spam folder in case your email provider put it there...If you still don’t see it, my team can help you out. Support@flippingmastery.com

@mattiematt316 5 ай бұрын

This is pure fire! Being able to get a seller more money than a typical investor AND deliver the results on a silver platter… So great! 🔥 🔥 🔥

@FlippingMastery 5 ай бұрын

Couldn't agree more!

@Edgar_Franco 5 ай бұрын

Best series on the internet right now for REI

@Thenatalyteran 5 ай бұрын

Let’s goo!!! Rich is killing it 🔥🔥🔥

@circa33 5 ай бұрын

Super stoked for this training series... even more stoked that you offer a JV on it and let you do the heavy lifting, Rich. I've got a graveyard of leads that I would love to see if we can breathe life into.

@jaison206 5 ай бұрын

LG Jerry and Rich.

@carterbecker7162 4 ай бұрын

sounds like wholesaling but instead of you taking the contract to a cash buyer you take the contract to someone wanting to move in.

@1StopToyShop 2 ай бұрын

Is that buyer cash too and quick close? I guess if you have cash retail buyers it makes sense. But If have to search for any buyer i don’t see why it makes sense if it’s basically same process.

@1StopToyShop 2 ай бұрын

As hiring a realtor

@gabrielREI1 4 ай бұрын

THE KEY THROUGH UNLOCKING A DEAL IS THROUGH THE HOMEOWNER

@collinbaptiste5619 5 ай бұрын

Rich, you're a flipping genius, sir 👏🏾 🎉🎉🎉

@julietruong.invests 5 ай бұрын

Can’t wait for this! I feel like notations are going to help so much in this market along with creative.

@luislacayo9293 5 ай бұрын

Omg... Always dropping gems!

@stattonparis-zw9lo 5 ай бұрын

Thank you Jerry!

@arianarose2655 5 ай бұрын

Thank you both !! this is an amazing way to get into novations , so glad to be learning about this now !

@claudemoss1005 5 ай бұрын

Thanks for this Jerry! Massive value 🔥

@FlippingMastery 5 ай бұрын

Glad you liked it!

@terrymccoy1016 4 ай бұрын

Wow! Jerry, will you be doing Novations for your 10k students?

@I_Am_Adrien 5 ай бұрын

🔥🔥🔥🔥🔥

@Lawrence_of_Asia 5 ай бұрын

Sounds like these leads can’t be in contract with an agent. Is that also accurate!?

@novationking 5 ай бұрын

Correct. Normally these deals need to be found off-market, direct to seller

@1StopToyShop 2 ай бұрын

Is novation basically same as wholesale but just selling to those middle buyers? What are the inspection periods and closing terms/ timelines on novations?

@justarandomstranger6467 5 ай бұрын

Is there a jet engine in the background? what is that noise?

@faizaenterprises2279 5 ай бұрын

Everything sounds good to me

@justarandomstranger6467 5 ай бұрын

@@faizaenterprises2279 0:21 when he first starts sounds fine?

@FlippingMastery 5 ай бұрын

Audio was messed up in the intro. Sorry about that

@Lawrence_of_Asia 5 ай бұрын

So, how is this any different than typical wholesale, did I miss something!?? I guess wholesale is an agreed upon low price and find someone to pay more. And novation is an agreement on a midrange price and you get the contract much like an agent and then You keep the difference… !? Is that correct!? 😅

@novationking 5 ай бұрын

We sell most of these properties on market after we hire an agent. We can sell to a retail buyer that's using a loan instead of just cash investors/fix and flippers like traditional wholesale

@garvin3d 5 ай бұрын

@@novationking you guys are nationwide correct?

@AberrantArt 5 ай бұрын

QUESTIONS: 1) IF It's a flip Novation, how is the equity and construction cost secured? 2) Are there states that see this as acting as an agent and have restrictions on this method? 3) what documents are needed for this? Power of Attourney? Discloses? Liens? 🤔

@novationking 5 ай бұрын

1. I personally dont care for those but you can use a promissory note and/or cloud title 2. we hire a local real estate agent, so we are not performing any agent related tasks. if you are using a flat fee, listing service and acting as an agent and absolutely it could be seen in that way, and that's why I do not recommend it along with several other reasons. We have a whole video on that in the series coming up. 3. We also have a whole other video in the series about that.

@AberrantArt 5 ай бұрын

@novationking thank you very much for the reply. Looking forward to the videos and info. For 1) does clouding title give you the ability to sell the property? What if the seller changes their mind after you did the work? Same with the promissory note. I assume that's the seller promising to pay you (the buyer back)? Without a deed, it's similar to a lien on their property, Correct? If they don't sell, how do you get paid?

@novationking 5 ай бұрын

⁠@@AberrantArtClouding title just prevents them from selling to someone else. It is very important to keep the seller happy throughout the process. This is one reason I spend minimal money because the sellers normally have no money and if they default, your only recourse is taking them to court (which I most likely would not do). The promisory note has a payment schedule and interest rate if they do not perform. It is more of a psychological tool than an protection. Normally, it would be more expensive to try to take them to court then it would be to just walk away from the deal and cut your losses. I've yet to lose money on a novation deal yet, but I go with my gut if something seems fishy, and I think the seller may be unstable and "flight risk". The types of things that I'll spend money on our helping them move, cleaning out the property, or putting down to deposit on their new property, which are all things that move along our process, more so than actual value ads to the house and give them a reason to walk away from the deal. There is probably a more sophisticated way to secure your interest in the property but since I'm not doing remodels and haven't lost any money, the way that we have been doing it has been sufficient. The document that gives us the right to hire an agent is the Attorney in fact: Authorization to sign listing docs.

@GTFCEO 5 ай бұрын

@@AberrantArtyeah it's like a lein and honestly I thought of that myself if they dont sell will u have to wait until they sell down the line IF they ever do, or they expire and their kids sell it/bank auctions it, to get paid your rehab cost back?

@FlippingMastery 5 ай бұрын

Stay tuned. We cover paperwork in video 4