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Coming out of Louisville, Kentucky, Beau Hollis has not one, but three bad deals for you to feast on today. There are so many lessons you can learn from Beau\\u2019s generous sharing of some of his biggest mistakes, so I hope you\\u2019re taking down notes so that you can avoid the litigation nightmare he\\u2019s been through.

One of my favorite sayings is \\u201cA lack of humility leads to humiliation.\\u201d Beau\\u2019s very good at finding deeply discounted properties, getting them under contract, and having a proven exit strategy. Rather than wholesaling or even wholetaling a hoarder\\u2019s home in a great neighborhood, he decided to rehab the entire property. But he didn\\u2019t get the scope of the work to be done in writing beforehand, and every mistake led to a more costly mistake.

If you need private money to refinance and get out of a project, you need those relationships already in place before a refinance becomes your only choice. That\\u2019s why networking and talking with people on the phone should be one of your biggest priorities. When Beau realized he was overextended, he could turn to those networks he\\u2019d already built.

Beau\\u2019s two lawsuits could have been easily preventable with a simple addition to every contract. He talks about the two clauses he puts into every contract that he makes sure are signed and notarized.

If you\\u2019re interested in the mind map for the Deals Gone Bad series, text the word BAD to 313131. There you\\u2019ll see all of the episodes, plus tools and checklists that previous investors have shared so that you can avoid their mistakes.

What\'s Inside:

\\u2014How to find a real investor friendly attorney.

\\u2014Why you need better contracts in place, and a few tips for where you can find some.

\\u2014The dangers of borrowing hard money for a poorly planned and poorly executed rehab job.

\\u2014Be careful about what you think you\\u2019re good at.