Make Sure You Tie the Deal Up - Sam Wilson

Planning to get the deal requires consideration of a strategic exit too. In this episode, Sam Wilson talks about his investment and exit strategies, avoiding mistakes in the future, and how important it is to make sure that there are out clauses in contracts in order to protect oneself. Listen closely as Sam provides listeners with valuable advice on how to make life count by doing the things that don't always count.

[00:01 - 13:36] How to Secure a Contractual Agreement with Sellers

• Have reasons for walking away from a deal, even if it's difficult
• Sam discusses his background in the real estate space
• Slow down and get to know the seller before getting into a contract

[13:37 - 18:36] Simple Contracting Tips to Protect Yourself from Multifamily Missteps

• Have a written contract that outlines the terms of the deal
• Have an exit strategy and ensure to understand the seller's motivation to sell
• Contracts should be simple and easy to read, with no hidden fees or penalties

[18:37 - 20:06] Closing Segment

• Make life count
• Final words

Tweetable Quotes:

“There are unfinanceable deals out there. So, you know, whatever your reasons are, make there’s enough in there that’s broad enough to get out of the deal… Don’t be like me who is afraid to walk away from deals.” - Sam Wilson

“That’s the thing about mistakes. I think that entrepreneurs, in particular, are willing to fail… And we’re going to fail… And when you do that, you just got to be able to learn from that lesson and remember those mistakes.” - Sam Wilson

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