A real estate contract should enable you to secure your dream home or great investment, but unfortunately for too many people, it can be the first hurdle and the beginning of the end.
Uncover the common mistakes, as well as the little advantages you can gain over your competition, at Contract Tips, Tricks and Traps, an intimate Workshop presented by investors and property buyers, for investors and property buyers.
CONTRACT TIPS, TRICKS AND TRAPS
Property Investing is a most rewarding and wonderful way to become financially secure. For the newbie, it’s a get rich slow scheme and for the educated it can be a pedal to the metal money making machine!
No matter what track you’re on, the first hurdle all property investors and home buyers have to come to terms with is the scary, ‘what the hell does that mean’ property contract.
We’ve all been there, unsure exactly on what you’re signing
(where’s your solicitor on Saturday arvo when you need them to hold your hand) and nervous to proceed, which creates delays, and in the current market this is often enough to make you miss out.
This is why the Reno Kings created the Intimate Workshop “Contracts Tips, Traps and Tricks”, and as you’ll find out there is more to this topic than you may initially think.
"Great workshop! Very well done and very useful information presented by Paul, Geoff & Justin. Thank you Reno Kings!
I would highly recommend the Intimate Workshops to anyone that is interested in improving their knowledge in property and growing their network with like-minded people."
C. Chang February 2016
TAKE CHARGE - IT IS YOUR CONTRACT AND YOUR OFFER
It isn’t enough to rely on the ‘experts’ to prepare your contract for you. You still need an understanding of what is in the contract, where it will work for you, and how it can end up being that a deal slips out of your grasp, despite you having it under contract and wanting to proceed with the purchase.
As we’ve touched upon, your solicitor isn’t always available.
And what the...your contract being prepared by the seller’s agent? Let’s just deal with that one right now: they are the opposition, not your mate, not your new best friend, and not the best person in the world to sell you this dream, and at such a good price. They are working for the seller!
You need to get street wise and understand some basic contents of a property contract, never forget you do need a solicitor, but sometimes even that isn’t enough, and a little understanding can overcome some major anxieties.
Here’s a prime example for you.
When you buy a property, your solicitor often conducts searches on your behalf. There are a wide range to choose from, but among the more common ones you’ll receive will be a services plan showing your sewer connection, and perhaps a zoning plan amongst others.
- Do they then explain what the sewer plan is telling you? A sewer onsite or not onsite, or in the wrong spot can cost you the development or tens of thousand of dollars!
- Can they inform you about the sites potential if a flood search comes back showing your site gets wet? This has the potential to kill your development.
- They’ve now provided you with a zoning search...does that mean they can now tell you what you can develop on the site? This is serious. Wrong zoning means ‘No Go’ for your project.
No! Of course not. The answers to these questions is “most solicitors tell you nothing about these critical aspects of your contract”.
-Buyers and Sellers beware!
Yet we’ve got a valid contract and an experienced solicitor in your corner, what else do you need?
Now, can you see why a little understanding can go a long way!
That’s why this Intimate Workshop is important for anyone looking to purchase a property, because to do that first you need to complete a contract.
"This was my first Reno Kings seminar that I attended, and i must say that i was very happy with the whole experience. Geoff, Paul and Justin delivered their topics well, and above this they all shared some great tips and personal property experiences which i think each member of the audience could relate to or gain insight from. Great work!"
B.Irwin February 2016
In broad terms we’ll be:
The Reno Kings didn’t build up a combined property portfolio in excess of $40M without making mistakes, and without learning a trick or two when it comes to buying property and completing contracts.
We want to pass on to you what we know, the little things that can benefit you and make a big difference, as well as the mistakes we’ve made, because there is no better way to learn than through someone else’s mistakes!
prefer to CALL US phone 1300 550 656
A CUP OF COFFEE SAVES A CLIENT OVER $13,000
As we say, we haven’t been in this game for so long, or with such a large property portfolio, without first making some mistakes and learning a thing or two about contracts ourselves.
We were in a coffee meeting with one of our clients when we heard something startling regarding their contract. What’s more, it was recommended by their mortgage broker, who many would assume to be an expert.
It was a huge error and one we come across regularly, in fact Buyer’s Agent Justin Eslick sees it at least half a dozen times a year.
This one little error (that isn’t immediately apparent), was set to cost them in excess of $13,000 that afternoon at their next meeting.
That became one very valuable coffee meeting!
In another instance, an error in the contract details cost a buyer not only in excess of $5,000 in lost rent, but also threw their whole renovation project off the rails.
These are just a few of the many stories we have to share, which we do because the more stories you hear like this, the more you’ll be in the know and the less chance you have of repeating them.
Some of these errors can’t possibly be picked up by your solicitor. In fact, the story of lost rent would not be picked up the majority of cases unless they’ve already experienced it or know of someone who has – a further reason we are sharing the case study.
"Very informative, practical & user friendly workshop.
Plus great value!"
S. Cowie February 2016
We’ve discussed in broad terms what this Intimate Workshop is all about, now lets take a closer look at a few of the items we will be covering in more detail:
There are many horror stories out there, but most are avoidable. It is possible to take the anxiety out of buying a property and completing a contract, and Contract Tips, Tricks and Traps is your first step.
On a recent purchase by Reno King Justin, some answers he sought during due diligence didn’t come back as planned.
Whilst the answers didn’t kill the deal, his position was no longer ideal. What were his options?
- Terminate the contract?
- Take a punt and hope to resolve the issues?
- Or was there another more appropriate option?
Yes there was. Justin renegotiated the contract, even though it was already signed up and agreed to, and this splitter block is still showing $130k equity gain.
prefer to CALL US phone 1300 550 656
An Intimate Workshop
So what exactly, is an Intimate Workshop?
Intimate Workshops have been created by the Reno Kings and the name is reflective of the nature of the event... it is focused on one vital topic and getting to know that topic intimately, in this instance it is Contract Tips, Tricks and Traps.
Your time is valuable so we have professionally packaged it into a half day comprehensive workshop which also minimises the cost of your investment. Have you been to one of those “free” all day seminars where you are, one of a sea of faces, being relentlessly ‘sold’ to by the conga line of sales people flogging their services?
We have and we know that ‘free’ also comes with a price tag... your time, you only receive half the information you need and there is more sales than actual useful and life changing information, so this intimate workshop lives up to its name… it is open only to a select group of people, in fact, only a maximum of 27 people can attend this workshop.
The advantages of attending an Intimate Workshop should be obvious:
"Practical, down to earth info, delivered with passion and confidence. Geoff & Paul have helped me to understand the possibilities in property investing - fantastic!"
We have deliberately set about to create a workshop that is affordable, yet gives you more of what you want. It isn’t about how much you can save on the workshop, its about the money you can save by attending the workshop, and the money you can make in property once you start applying our tried and tested strategies.
Be a ready buyer by knowing your way around a contract!
So here’s what you get at the Contract Tips, Tricks and Traps Intimate Workshop:
All this for just $347 for a single, but remember, there are only 27 spots available.
We believe it is always beneficial if both you and your business partner or spouse attend too, so as an added incentive couples can book to attend for just $597.
That’s a saving of $97!
But wait, there's more!
Make a full day of it and combine yourworkshop attendance with The Reno Kings' Intimate Workshop 'Feasibility Mastery'
, and you will receive a 20% discount off the second workshop.
That's a total saving of almost $70 for a single and almost $120 for a couple.
Join us on Saturday 21st May 2016, 9am - 12pm in Brisbane.
Quest Apartments Board Room, Amy Street, Albion – opposite the Breakfast Creek Hotel.There are limited car parks on site at no cost. Alternatively, there are plenty of on-street car parks in both Amy Street, Yulestar Street and Agnes Street. It is also on a fairly direct route from the airport.
prefer to CALL US phone 1300 550 656
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