Note Investing Morning Drive
Good morning everybody, Chris Seveney here with 7E investments on my morning drive. Hope you’re all doing well today. So today I wanted to just briefly talk about joint venture agreements for note investing, contracts and any documents that you have which contain agreements. And the reason I want to talk about this today, I was uh, having my attorney update a few documents I had yesterday based on some experiences that have gone through and so forth.
But the reason I mentioned this is, you know, if you start out as a note investing investor, you made jv with someone and look at the joint venture agreement and down the road, you know, you may use it or may get another one from somebody else, whatever it may be. But my recommendation is make sure you have your attorney review it and have it customized and catered to your business needs and desires. A, I’ve got some unique things in my agreements that other people probably wouldn’t want to do when I got some things in my agreements people may want to do, but every agreement, just like your business is different than somebody else’s.
You’ve got different goals, priorities. So you want to make sure those get captured in the agreement. And the other thing, the reason why is if there’s ever any type of litigation against your agreement, you’re gonna to want to have an attorney review it and we’ll stand behind it. So if you need representation in court, you can go back to that attorney and say, Hey, you helped me draft this final version.
Um, you know, they’ve got this going on, like to seek your counsel. If you just grabbed somebody who’s agreement off the shelf per se, you know, try and find an attorney. They may be like, well, you know, they’ll defend you, but your defense might be a lot weaker, especially if there was any, uh, any clauses in there that might not be a defendable or were not written properly. So whenever document you get from people, um, if it’s anything that’s a binding contract, uh, make sure to take a look at it and make sure it fits your needs.
Do Not Copy
One of the things that’s easy to tell when somebody’s copied a contract from one to the other is the state were any disputes are handled. Um, and a lot of times I’ll see people selling copy, a loan sale agreement and there’ll be in the state of, you know, whoever that hedge fund was a, the other thing to be careful of on cfd. Sometimes it’s depending on who you buy it from. You know, sometimes the seller is responsible for recording the deeds and sometimes it’s the buyer.
So just things like that when you copy over from one to the other, just to be cognizant of. And those are just a few examples. So hope you enjoyed this video, uh, on. Just provides more insights and remember, feel a hope. You can listen to Gail Greenburg and I on the good deeds note investing podcast. We’re on itunes, stitcher, Google play, and if you’re on facebook, feel free to join our group, uh, notes and bolts were, provide some content and some useful information, especially for those who invest in contract for deeds. Uh, so look forward to talking with you tomorrow. Have a good one. Thanks people.