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The Importance of Flexibility

October 26, 2020 By Larry Leave a Comment

October 23, 2020

The real estate market is currently a seller’s market. Inventory is low, and investors keep bumping into each other trying to get into the door of properties.

What if you could offer a seller more money than other investors, but make a larger profit on a wholesale transaction?

“Not possible,” you say. 

Except that it is, if you structure the transaction a little differently. And best of all, it’s legal and may be an even better option to help out the seller than a straight wholesale deal.

The problem many wholesalers run into these days is that sellers want a certain amount out of their property, but you know you can’t offer them that and have any hope at making a profit. So you leave, hoping they will call you later, or you may have never called them in the first place due to the situation.

What if you could offer them more money, or more time in the property, or other concessions they need and still get the property under contract?

It can be done using a Novation agreement. Essentially, a Novation allows you to control the property, market it for sale, and receive the profits upon sale without taking title. Think about the savings you gain simply by avoiding that first set of closing costs.

In a typical wholesale transaction, you buy the property (A to B), and all closing costs, commissions, taxes, title, etc. are paid. Then you sell the property to another buyer (B to C), again paying closing costs, commissions, taxes, title, etc. A Novation removes the first closing, changing the transaction to A to C, with you in control of the property. 

But how does this get around laws against excessive commissions, etc.? Because under a Novation, you take on all responsibilities of the seller:  You make any necessary repairs, you pay the mortgage, are liable for all the disclosures, etc. By assuming the responsibilities of the seller, you stand in the place of the seller, just without an expensive closing taking place.

So knowing you could save $5,000, $10,000 or more in closing costs, you can increase your offer to the seller above what other investors can offer. Not only that, you can sell the property on the MLS or privately instead of at a discount to a flipper or another wholesaler. So you can maximize the profits on the back end with a smaller front end investment.

We call this the Brewer Method, named for Eric Brewer, who has used this technique in hundreds of real estate transactions successfully. And we’re teaching it to you, complete with all the forms, sales techniques, and monthly training you could ask for. Visit www.BrewerMethod.com to sign up and take your business to a new level of advantages and productivity.

Filed Under: Blog, Training Tagged With: big profits, Brewer Method, convert leads, eric brewer, leads to profits, massive profits, novation, real estate, real estate disruptors, real estate marketing, real estate podcast, steve trang

How Eric Brewer’s Investment Side Did 375 Transactions and Traditional Side Sold 75MM+ in Past Year

October 22, 2020 By Steve Leave a Comment

Eric Brewer talks about how he went from selling cars to flipping houses. Along the way, he learned how to lead other people to help his company wholesale, whole-tail, flip, and turn key 375 investor transactions while also doing 400+ retail transactions.

Join us to learn more about Novations at www.brewermethod.com

Video Replay of Interview with Eric Brewer

Start Your Real Estate Disruptors Journey by visiting http://www.realestatedisruptors.com

SHOW NOTESDownload

SHOW NOTES

How Eric Brewer’s Investment Arm Does 375 Deals A Year While His Retail Team Does 75MM+ In Volume

With Eric Brewer, Integrity First Home Buyers

Oct. 21, 2020

About Eric Brewer

Eric Brewer joined CR Property Group in 2006. Since then the company has bought, renovated, and sold well over 2,500 homes in Pennsylvania. In 2017, he became an Owner allowing him to utilize his extensive background and experience in the acquisition, rehabilitation, sale of real estate, and to grow the brand to also include; Integrity First Home Buyers and Clear 2 Close Renovations. 

Connect with or find more information about Eric at integrityfirsthomebuyers.com, [email protected], or facebook.com/IntegrityFirstHomeBuyers.

Find out more about the Brewer Method at www.BrewerMethod.com.

Show Notes

Steve and Eric discuss Eric’s early experiences in real estate, how he and his partner build Integrity First Home Buyers, the massive volume the company does and how they find and evaluate deals, the importance of networking and education, and introduce the Brewer Method — using a Novation agreement to turn leads you would normally trash into big profits.

Top 5 Takeaways from Eric Brewer:

5.  Find what you do well in your business, and hire the right people to do the parts you either don’t like or are not good at doing. 

4. Good salespeople are usually messy and bad with paperwork; so let your salespeople do sales and hire detail-oriented people to take the paperwork off the salespeople’s hands. You will have much better compliance with far fewer errors, and much better sales because your salespeople won’t be grinding through the paperwork they hate.

3. Know your market and use your lead gen/data providers to help you define your target properties. It’s better to do fewer deals but make two to three times the profit than to run yourself ragged.

2. Look for ways you can legally differentiate yourself in hot markets. Right now, it’s a seller’s market and investors are competing heavily for properties. If you offer something unique, like the Brewer Method’s Novation strategy, you can position yourself as one of the few investors who can help sellers by getting the what they need from their property.

1. Every contract — every single one — should have a Novation provision in it. This gives you flexibility as the investor to offer Novation terms to a home seller, allowing you to close more deals that other investors cannot touch. The Brewer Method can show you exactly how to do this legally and ethically.

Bonus Takeaway:  If Eric could go back and change anything, he would have paid for and used masterminds, education, and better networking with other successful real estate investors early on. Once he started using mastermind groups like Collective Genius and other training programs, especially business organization and management training, Integrity First Home Buyers experienced a 50% increase in transactions completed with less pressure, stress, and problems. Don’t put off getting educated on how to run your business.

About Steve Trang

Steve Trang is the founder of the Real Estate Disruptors movement and host of the Real Estate Disruptors Podcast. He started his podcast in the middle of 2018 to inspire wholesalers and real estate agents to double their incomes by adding a second leg to their business. The podcast has now grown to ten thousand followers with new members of the community sharing their success story every week.

Steve’s goal is to create 100 Millionaires. One of his favorite quotes is from the great Zig Ziglar: “You can have everything in life you want, if you will just help enough other people get what they want.” He heard this quote when he first got into real estate, and it has stuck with him throughout his entire career. In fact, it’s essentially one of the core values Steve lives by.

Connect with Steve at linkedin.com/in/stevetrang, facebook.com/stevetrang, instagram.com/steve.trang, stevetrang.com, or realestatedisruptors.com.

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Filed Under: Interview, Wholesale Tagged With: Brewer Method, convert leads, don't trash leads, dont trash leads, eric brewer, leads to profits, real estate, real estate disruptors, real estate marketing, real estate podcast, steve trang

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