The 24-Week Challenge: Week 14 - Closing Deals
Here’s the question we’re working on resolving during the 24-week challenge. How do real estate investors build real wealth and freedom without access to millions of dollars in capital? We’re on week 14 of the challenge: Closing Deals.
Zack Childress is guiding us through the steps to get to the answer in 24 weeks. Zach’s been an investor for 16 years.
We’ll learn today what we need to do after we’ve made an offer and found a buyer. Yes, you have created a deal, but you don’t get paid until closing is complete. So you can’t relax yet.
You need a team of professionals [a Power Team] that will work with you to close based on the strategy you’re using. For instance, not all title companies accept assignments of contracts involved in wholesale deals. It’s you job to know who will.
Who is funding the transaction? Are the funds in place? What’s the earnest money situation?
Consider hiring a virtual or an in-house closing coordinator. They stay in contact with the various people who handle the various closing details so you don’t have to. Find transaction management companies to interview online.
“Don’t be a victim. Follow through on everything you delegate. This is yourdeal.”