You guys are so great about sharing how much you appreciate my free REI forms and enjoythe time-to-time “videos I put out on how to use them.
So hey…here’s another one!
This one’s about a relatively “new breed” of option contract that’s become increasingly popular over the last few years – the non-exclusive, “flexible option”.
It’s actually an extremely simple agreement, and one that savvy wholesalers are increasingly using to open doors to new profits by tapping into flipping other wholesaler’s inventory of deals.
Some questions answered in this here video:
- What the heck is a non-exclusive, “flexible” option?
- How is it different from a regular real estate option?
- Any danger of practicing real estate without a license? (Why/why not)
- What does this form actually give you, in a legal sense?
- Who’s really obligated and who’s not?
- Can you shop other investors deals to your buyers list? If so, how?
- Can other investors use this to shop your deals to their buyers? If so, how?
- What’s a good “option term” for a deal like this?
- And more…
Intriguing, say you? Then watch the video, says I! Arrrrgh!
The original “Flex Option” is a concept conceived and born (and now trademarked 🙂 ) by Tim Mai of DoDeals.com. ANd while the “Non-Exclusive, Flexible” Option here is along similar lines to Tim’s, there are also some key differences. For starters, Tim offers one Flex Option for Wholesalers and another for Owner Financing deals.
But credit should be duly given to Tim for being the first mad scientist (that I know of at least) to really come out witha form like this, and start teaching people how to use it to wholesale other people’s deals. You did a good thing, Tim. Thanks!
Also, in order to get Tim’s two flex options, you historically had to be a student of his full blown REI course. But he actually shared with me via email that both of his original Flex Options are now freely available to his premium dodeals members. So if you want Tim’s original Flex forms, go check it out!
Other Quick Stuff…
- You can download the “non-exclusive, flexible option” by itself here…
- If you already have my packet of 53 free REI forms, yes, you’ll find it already inside (under the buy/sell folder).
- Very special thanks to my buddy Erik Stark for being our guest start in this “REI Undressed” episode. And again, thanks to Tim for the popularizing the original concept!
And yes, I’d really love your honest feedback on this one please. After you watch/download, please leave a quick comment with your own thoughts or questions below. Thanks in advance!
PS – If you enjoyed this free video form, you can say “thanks” by voting for me in the 2009 REI Battle of the Blogs!