Today’s REI Classroom Lesson

Jon Iannotti explains more about terms and how they’re working in any market.

REI Classroom Summary

Jon Iannotti goes over agreeable contract terms and how important they are when getting a deal finalized.

Listen to this REI Classroom Lesson

Real Estate Investing Classroom Show Transcripts:

Mike: Welcome back to the REI Classroom where experts from across the real estate investing industry teach you quick lessons to take your business to the next level. And now, let’s meet today’s expert host.
John: Hi there, John Iannotti coming to you again for the host of the classroom for FlipNerd. And I just want to go over today one of the, well probably the number one technique that’s out there that’s working today. You know guys, it’s not only working today, but this will work in a down market, an up market or a sideways market.
Mike: This REI Classroom real estate lesson is sponsored by
John: So I always tell everybody that I’m talking to or teaching, that this technique is the number one technique that you will probably have to use just about any time. So it doesn’t matter what kind of market you’re in.
What is that technique? It’s called terms. Now, what is terms? Terms can be seller financing, it could be a lease purchase, lease option. It could be cash, it could be getting a loan, it’s all terms. They work all the time. So we brought this to the industry probably about five, six years ago and when we created the acronym ACTS, A-C-T-S, and that stood for Agreeable Contract Terms System and that acronym is mine.
The program that was created with it, we gave to our mentor who has taught thousands of people the technique and continues to. That was a give back to our mentor that we did because of what he did for us. We became very successful and because of what we had learned and that technique, we thought we’d give to him to go out there and teach the world and he has.
Now since then, we’ve created another program called REACT and that’s Reverse Engineered Agreeable Contract Terms. Those two put together is called CATS and CATS is Complete Agreeable Terms System and what we’ve done guys is, again, like I said, it doesn’t matter if it’s a down market, an up market, a sideways market, these techniques are going to work. But you’ve got to know what you’re doing.
If you can master terms and again, terms can be seller financing, lease option, lease purchase. Could be using cash. Cash is a term, or you can use a loan to get the funds to do the deal. Those things are terms and they have worked through history, they will continue to work in the future and they’re working phenomenally today.
I want you to understand there are many techniques. There’s rehabbing, there’s landlording, there’s wholesaling, I mean they all work. They all work. Short sales. I’ve done hundreds of short sales. But now the short sale era is pretty much done in terms of what’s working. So you need to understand the terms and if you can get that under control, it doesn’t matter what the economy does. You’ll be able to do deals all the time and that’s one of the things we’re teaching today. We’ll continue to teach it to everybody. We’re going to teach it to you. Master it, it is the key to the vault, I’m telling you.
So again, John Iannotti here. The number one technique that you have to learn and conquer is terms. If you can get that, you’ve got them all. So hope to see you on the next classroom and on our next topic and we’ll be talking to you soon. See you at the top, take care. Bye-bye.
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