Flip Tip Summary
Forever real estate investors have been plagued with time consuming administrative tasks that it’s hard to avoid. In this FlipNerd.com Flip Tip, Mark Podolsky shares a great tip and resource to use when you need a notary and 3rd party to collect funds. Short, sweet and good stuff…don’t miss it! Make sure to check out: http://notarypro.com/
Flip Tip Transcript:
Mark: Yeah, thanks. We were talking earlier in the podcast about how I actually close these transactions without using a title company because we don’t want to incur all these frictional costs like single family home flippers have to do.
So the way that we mitigate our risk is we hire a company like NotaryPro.com. It’s a mobile notary, and the way the transaction will work is, we will FedEx them the documents, along with a cashier’s check for the seller. And they’ll have the seller sign the deed into our company name, notarize it, and after they notarize it, they will then hand funds over to the seller, nice and safe. We’re using that third party.
They will then FedEx back the notarized deed for us to then record with the county. That makes it such a simple, safe transaction and our sellers feel a lot more comfortable then just signing over their land to us and then hoping that they’re going to get a check.
Mike: Yeah, that’s great. Efficiency tools like this are awesome for real estate investors that they’re kind of a necessary evil to do a lot of these things. So that sounds awesome.
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