John Jay Singleton.
I suggested a way to do something to get control of a real estate, and he said well can you do that for me? And I said, "let me show you how to do it," so I told him how to get financing and buying real estate because he was going to wait. He said, "I'm thinking in about 2 months I'm going to get some money," and I said why? What are you waiting for? Make the offer. Someone else is going to buy the thing, and if you do things like that you're just going to lose, okay? So make the offer get it accepted or make the offer and get the seller to say go take a hike okay. That's really what you want. When you're buying real estate, and I said you want your first offer rejected, that's where you start, but get your offer eventually get your offer, get it accepted and then go find the money to close the deal, because you get 30, 60, 90 days if you can work it to find the financing. And you should find the financing. This is how things are done. And the default exit from the offer, acceptance, and consideration for the purchase, the default exit from that deal is failure to obtain financing. No harm no foul everybody walks away no penalty do it make the offer so here's what I told him if you guys want to know and this is what my point is coming down to how do we protect our property rights? How do we do things like I'm going to describe here? So I told him you don't need to make an offer on the property to buy it. You may want to buy it eventually. Why don't you just control the title? All you really want to do is make it where you get your foot in the door, so that you can either find a financing or sell your interest in it. What kind of interest can I do? Well, I'm not a licensed real estate agent or a broker because those guys have a license. The reason being is they're selling property that's not theirs, so there has to be a license for that. But if I sell property or buy property for my own purposes where I take an interest or I acquire an interest before I sell it, it's legal. I don't need a license for that. So even if I wanted to sell property, purely sell it, I can do so just by what I'm going to describe for you right now. I could get an option to purchase the property at a later date, or under certain conditions when they occur. It's a it's an options contract. You guys probably have heard this lease option, right? Well, the options contract is a separate element in that arrangement. So if I have an options contract, I can add in there the provision that says, "I have the first right of refusal." That means anyone else that wants to come along and try to buy this property, doesn't get to go to the title holder. He has to come to me. In fact, the title holder has to come to me. Because in the contract it says that I have the first right of refusal then I control the title right I also have the right to assign it so let's say I couldn't find the financing right away just I just changed my mind I can sell the contract in fact I can sell the house you see how that works so by looking ahead I can set up contracts that protect my rights do I need a lawyer for that no most lawyers aren't competent to do something like that and this is part of our conversation so I told him what to do I'll share it with you guys I said go on that I said go on the open AI chat GPT just use AI go on there and start a conversation with the AI and tell it you want to write an options contract purchase real estate to purchase real estate so that you have the option to purchase it in the future and the AI will say sure here you go poof it'll give it to you right and then you read it over and then I said tell the AI that you want to add a provision in the contract that says you want the first right of refusal to consider any offers that follow that date of the contract that way everyone has to go through you during that period of time you want the first right of refusal the AI will write it into the contract then you tell it you want an assignment clause and you give the specifics on that do you see how this works I could have probably charged him a couple hundred dollars and done just that in 5 minutes not even 5 minutes okay but I really want people to be educated we are smart we have power the digital power we're giving it away we are complaining about it we already gave it away when you bought your house you had claims on the title you agreed to that you had the county the city you had probably got a more mortgage which is a good idea okay just understand what you're dealing with understand that the mortgage is the law of the property it's a claim on the title the mortgage instrument itself is the law not the statutes that govern the mortgage that's just your state protecting your interest and protecting the bankers interest okay the state statutes regarding mortgages there's a certain rules of the banks have to follow but the mortgage itself That's the Law of the property understand what that is so recognize liabilities recognize when you have claims on the property permitting and and things like that understand what can be done and what cannot be done what you signed up for okay the same thing that we talked about you know we understand what easements are I think now and Covenants for homeowners associations and how they could be used actually for our benefit and to fix some problems so we talk about that now to summarize what I money is a claim and the claim the best you can do with it is to transfer it
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