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Contract Disclaimer
Any sample contracts contained in this guide are for example only. They should not merely
be duplicated without considering specifics and details of your particular situation. They are
not intended to cover each and every real estate transaction or situation.

Real estate contracts are important documents, so you should consult an attorney in your
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and certain provisions in these sample contracts may not be enforceable. You may have a
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Use of testimonials and personal examples herein are for exemplary purposes only. Specific
discussions of earnings are not an indication that the reader will experience the same
results. Background, education, experience all play into one’s ability to generate profits. As
such results will vary.
 Virtual Property Walkthrough Guide

This guide serves and a step by step breakdown for how to do a virtual property
walkthrough without you physically seeing the property. First of all, let’s be clear
about why a property walk-through is so important in order to get a contract with
a private seller and then I’ll explain how to handle it virtually. There are actually 4
reasons…

Reason #1: The first reason is to see the condition of the property so that you can
determine the estimated repair cost. In most cases, the properties are distressed
and are going to need some level of repairs done…whether minimal or extensive.
As a wholesaler, once you get a contract with a seller, you’re going to assign the
contract to a cash buyer who is then going to make those repairs and rent it or flip
it to a retail buyer. Being able to determine the cost of repairs is necessary in
order to calculate you buy formula and come up with an accurate offer price. The
problem is most people overcomplicate the process of estimating repairs. For
more help on how to quickly calculate the cost of repairs, I did a video where I
break down my proven algorithm for estimating repairs on any house in under 60
seconds!

VIDEO Link: https://youtu.be/EtCDWoJVtOE

Reason #2: The 2nd reason why a property walk-through is important is to

understand the layout or the flow of the house. I bad floor plan can kill a deal and
make a house very undesirable. For example, having to walk through a bedroom
to get to another bedroom. Or the kitchen is too small and it can’t fit a table. Or
the ceiling height is really low. Or you have to go outside to access the basement.
Things that would really hurt the resale value and a property walk-through
ensures you’ve got a good house.

Reason #3: The 3rd reason to do a property walkthrough is to check out the
area…the neighbors, the street and the neighborhood. Some markets, especially
heavily populated areas like Pittsburg or Philadelphia, the values can change
literally street by street. Physically going to the property helps you understand
how desirable the location is.

Reason #4: And the 4th reason to physically go to the property is to meet the
seller to negotiate and execute a contract.
Virtual Property Walkthrough:

These 4 things are important but it doesn’t mean you have to do it. When it
comes to repairs, layout and neighborhood, the next best thing to seeing the
property in person would be have someone provide you detailed pictures and a
video tour of the property. In fact, if I had enough pictures and video that showed
me everything I need to know, I could do my same analysis without leaving my
home. The key is getting detailed and accurate photos and videos and that’s why I
created this detailed property walkthrough guide including instructions on how to
properly take pics and video. This can be done 1 of 2 ways.

Method #1: The first method, which is my preference, is to hire a local freelance
photographer or videographer to go to the property. With proper instructions, I
usually pay $25-$50 for a full set of photos and video. I usually can find someone
on craigslist pretty quickly and easily.

Method #2: The 2nd method is to get a full detailed set of photos and video from
the seller directly. This can present some challenges if the seller isn’t tech savvy
enough but with most people becoming more and more comfortable with smart
phones, it’s less of an issue.

Photo and Video Instructions:

The key is having very clear directions which is why I created the step by step
instructions for taking photos and video of a property (see attached). Whether
you hire someone to go to the property or have the seller do it, you give the
instructions to them, which explains exactly what you’re looking for.

How to Use…

Once you’re on the phone with a seller who is interested in selling, at that point,
you haven’t seen the property yet and you have no idea of the condition. Here’s
what to do. First, follow my pre-close sale process where you commit the seller
over the phone to a ballpark sale price contingent upon seeing the condition. This
is very important because you want to make sure you and the seller are in the
same ballpark on price. I did a video explaining exactly how to do this including all
of my word-for-word scripts so you know how to position and posture yourself,

VIDEO Link: https://youtu.be/RE6OSBhu4RE

But assuming the seller is interested in selling his house at your ballpark price, the
next step is to do your virtual property walkthrough. If you plan on sending a
freelance photographer to the property, say the following to the seller…

“Mr Seller, here’s what needs to happen next. I’m going to send my guy out
to the property to do a quick walkthrough and take photos/video so that I
can finalize my offer. He only needs to be there for 20-30 minuets tops.
After that, I have a simple agreement for you to approve and then we can
schedule a closing.” I’ll need you to give him access to the property. Does
today at 3pm work for you?”

*Pro Tip: Don’t send the photographer and pay $50 if you don’t first pre-sell on
the phone and get the seller to agree to your ballpark number, otherwise, there’s
a good chance you’ll waste $50. If due to COVID-19 or for whatever reason you
can’t send someone to the property or you don’t want to send someone (maybe
you didn’t pre-sell the seller) and instead you want the seller to do the
photos/video walkthrough, say the following:

“Mr. Seller, the only thing I need at this point to give you a concrete offer is
to see the condition of the property and the neighborhood. For this, I need
your help to provide me detailed pics and video. Don’t worry, you can use
your smart phone. I have an instruction sheet I can email you right now
explaining exactly what I need. If you can follow that closely then I’ll have
everything I need to finalize my offer. Is that something you are willing to do
for me right now? Great! Once you get that to me, within the hour I’ll email
you a simple agreement for you to approve and then we can schedule a
closing.”

Virtual Wholesaling with Integrity:

Is there a chance that the seller doesn’t follow the instructions or takes
unsatisfactory photos and video? Yes, it happens all the time. Be patient and tell
him what you’re missing or ask him to do it over. Is there a chance the seller
intentionally or unintentionally leaves something out? Yes, that could happen, but
it’s pretty hard if they give you photos and video of everything on the instruction
sheet. Also, don’t forget…not only are you gathering this information so you can
make an informed decision on your offer but also to provide to cash buyers if and
when you get a contract with the seller.

In most cases, your photo and video album of the property will be far more
detailed and extensive then anything your cash buyers has ever seen from other
wholesalers. Having said that, there are 2 things you need to do to virtual
wholesale with 100% integrity.

Integrity Tip #1: First, disclose everything you know about the property…the
good, the bad and the ugly. If you know about it, you have a moral, ethical and in
many cases, a legal obligation to disclose. I recently did a video series on my
YouTube channel about a deal I was working on where a seasoned wholesaler
tried to blatantly scam me on a deal by not disclosing vital information about the
property. Luckily, I caught it and exposed him. If you want to see an eye-opening
video, be sure to watch it.

VIDEO Link: https://youtu.be/GFhMePtoDN0

Integrity Tip #2: The 2nd tip to virtually wholesale with integrity is to disclose
what you don’t know. In other words, tell your cash buyers that you have not
personally seen the property and how and who provided you the photos/videos.
Ultimately, your cash buyers will need to do whatever due diligence they need to
feel comfortable with buying the property but the more information and details
you provide, the easier it is for them to pull the trigger on your deal.

Digital Contracts:

Once it’s time to execute a contract with the seller, you don’t need to meet the
seller in person. Use a digital contract with electronic signatures. This is actually a
standard feature with my wholesaling and house flipping deal management
system, called FlipSter. Using my proven contracts, you can quickly create, save
and manage all of your offers inside FlipSter. Within minutes you can have it
emailed to the seller for him to sign electronically on his smart phone or
computer.

FlipSter:

If you’ve never heard of FlipSter, its a cloud-based all-inclusive system to help you
organize, streamline and automate all of the steps to wholesaling and flipping
houses and what’s so cool is me and thousands of other wholesalers and flippers
have been using flipSter to do to deals virtually from home for years. Now with
COVID, flipSter went from a “nice-to-have” to a “must-have.” If you’re serious
about wholesaling and flipping in the new “corona-conomy,” you owe it to
yourself to check out flipSter.

To learn more and see it in action, just go to getflipster.com.

Ok so if you have flipSter or another digital contract software, email the contract
to the seller, where he can digitally sign it and if you’re watching this during the
COVID crisis, be sure to use my COVID addendums which address all of the
concerns and contingencies you need to still do deals. I did a video where I
explain how to use these addendums and I also will give them to you for FREE!.

VIDEO Link: https://youtu.be/7P40v1HqIxo

FREE Addendums Link: https://flippingmastery.com/covid/

Now you’ve successfully executed a contract with a seller virtually without you
having to personally go to the property…but as you know that’s only half of the
game to wholesaling. Now you have to find a cash buyer. Be sure to subscribe to
my YouTube channel:

Flipping Mastery TV

There you will find several videos to help you adjust and adapt your wholesaling
and flipping business during and post the COVID epidemic. My goal is to stay one
step of ahead and be your most trusted resource. Remember, the most successful
investors adapt quickly to market changes. Make sure that’s you!

To Your Success, Jerry Norton

 Step by Step Instructions to Take Photos/Video

This document serves as detailed instructions to conduct a virtual

walkthrough of the property to get an accurate depiction of the layout and
condition of the house and neighborhood by using pictures and video. The
intent is for a buyer to make an informed decision to purchase the property
WITHOUT physically see it.

PHOTO INSTRUCTIONS:

Using a smart phone or camera, take photos to showcase the property from
many different angles of the exterior and interior and also to show the nature
of any work needed.

• Only 1 picture is needed of the same thing/angle. Delete the

duplicates.
• Make sure the resolution is high enough to take quality images
• Take pics during the day and images are well lit.
• Take pics from each corner to provide every angle. For example, a
bedroom should have 5 pictures (each corner and the ceiling).

Pictures to Include:

Neighbors/Street:
• House to the left
• House to the right
• House across the street
• From street, take pic down the road each way

Exterior:
• Straight on facing the house
• Left side
• Right side
• Back side (back yard facing back of house)
• Back yard (stand at back door and take pic of back yard
• Roof (front and back)
• Garage (all 4 sides and roof if detached)
• Sheds/porches, etc
• Driveway
 • Close up of window(s)

Interior:
• Bedrooms
• Bathroom(s)
• Kitchen
• Living room
• Dining/formal room
• Stairways/hallways
• Basement and/or Attic
• Any other rooms (dining, office, laundry, etc.)

Damaged Items:
Include a specific image of any/all obvious and visible damaged or
broken items including… cracks in driveway/sidewalk, drywall
dents/holes, water stains, mold, missing plug/switch covers or light
fixtures, damaged doors/trim, cracked windows, stained carpet or
damaged flooring. Foundation cracks, etc. Anything that may need
repaired if the house were to be completely renovated. There is no
judgment here. Do not skip something as it will come up eventually.
Please be as detailed as possible.

Mechanicals
• Furnace(s)
• Hot water heater(s)
• Electrical meter (outside) and breaker box(s)
• AC unit(s) and air handlers
• Appliances (dishwasher, microwave, fridge, stove, washer/dryer)
• Water softener(s)
• Sump pumps(s)

VIDEO INSTRUCTIONS:

Using a smart phone or camera, take video to illustrate the floor plan
(layout) of the house. editing so that I can see the property and also the flow
(layout). While filming, explain each item/room and what you think of the
condition (if it needs fixed or not).
 • Take video during the day and make sure video is well lit.
• Walk slowly and hold steady. Avoid shaky-camera syndrome
• Pan left to right and up and down slowly (not too fast where it can’t
be seen clearly)
• While walking slowing, video without stopping to see layout. (For
example, while recording, walk in front door, pan slowly left right, up
and down, then continue walking through living room and into
kitchen, etc)
• If using a smart phone, always take video with camera recording in
horizonal position (not vertical)
• Talk and explain while filming. This helps the viewer understand
more what is being filmed.

Once Ready To Record…

• Start outside facing the front of house at the street

• Do a slow 360 turn showing the neighbors
• Walk around the entire house showing close-ups of roof, windows,
garage, back yard, front yard, etc. (remember to zoom back out so
viewer can see from afar as well as close up)
• Walk in the front door (while filming)
• Walk through the entire house explaining the rooms, flow, work
needed, etc.
• Be sure to point out the mechanicals (electrical box, water heater, AC,
furnace, etc)
• Don’t skip over anything ugly or things that look bad. Show it all!

Uploading Pics/Videos to Online Album

Pics and videos are to be uploaded onto a photo/video sharing website. This
will allow you to submit a link to the pics/videos instead of large files. Here
are two popular file sharing programs:

Google Drive (free): https://www.google.com/drive/

Dropbox (free): https://www.dropbox.com/basic

Both Google Drive and Dropbox have free versions with over 1GB of
storage. Choose one, sign up, and follow their tutorials for uploading files to
a shared album.