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Owned by Dwayne

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$15k from a Dead Deal ๐Ÿ’ธ
This check is from a deal I closed yesterday. What makes it interesting is that this deal had died over a year ago (or so it seemed) Back in 2024, I had this property under contract and was lined up to make a $36k assignment fee. On the actual day of closing, the seller backed out. Instead of getting emotional or walking away, I did something some people donโ€™t think aboutโ€ฆ I protected my position. I filed a memorandum (clouded the title), which meant that whenever the owner decided to move forward in the future, I would be part of that conversation. Fast forward one year later โฉ The seller reached back out. They offered me $10k to release the cloud. I countered at $20k. We settled at $15k. Here are the biggest lessons I learned from this deal: ๐Ÿ’ก Lesson #1: Double Closing Matters โ€ข In certain situations, double closing is the better play โ€ข Had we double closed originally, the $36k spread would not have been visible to the seller or end buyer โ€ข Less transparency = fewer emotional decisions = smoother closings ๐Ÿ’ก Lesson #2: Due Diligence Is Non-Negotiable This deal fell apart because of back taxes that werenโ€™t fully understood upfront. โ€ข Taxes appeared paid, but they were actually paid by a tax lien investor, not the seller โ€ข Those taxes still needed to be redeemed before closing โ€ข The seller purchased the property via quit claim deed, not a warranty deedโ€”meaning the back taxes were already attached when she bought it (and she didnโ€™t know) If we had uncovered this earlier, expectations wouldโ€™ve been set properly and the deal likely wouldโ€™ve closed the first time. ๐Ÿ’ก Lesson #3: Know Your Legal Rights โ€ข Filing a memorandum / clouding title protects you when you are not in breach of contract โ€ข If a seller backs out without cause, you may legally cloud the title for a small fee โ€ข This ensures that when the property sells, youโ€™re not cut out of the deal This post isnโ€™t to flex. Itโ€™s to show whatโ€™s possible when you: โ€ข Stay patient โ€ข Understand the paperwork
$15k from a Dead Deal ๐Ÿ’ธ
1 like โ€ข Jan 2
That's the way start the New Year.
Weekly Calls - Active
Weekly calls will be moved to every Sunday at 6PM CST moving forward See ya'll there!
0 likes โ€ข Nov '25
Are we on tonight?
Suggestion for SMS campains
Hi, I am new in the realtor market and i want to know about which type of sms I should send to property owners to get their positive responses. I think, asking for a direct cash offer will not be work 100%. As you experts have solid experiences in this type of companies, so that's why I am looking for some valuable suggestions.
1 like โ€ข Sep '25
Never quit!!!
Leveraging Realtors - Investor makes $1M+
https://youtu.be/iw6sq1ovChA?si=74AZCCPo-_VTgCn9 This investor made $1M+ off this strategy. I think itโ€™d be smart to implement on our end as well. We could set up a department that deals with agents and / or on-market leads
1 like โ€ข Jul '25
Man, that was some good information.
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Dwayne Thompson
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15points to level up
@dwayne-thompson-9495
Want to win at this game of life.

Active 17d ago
Joined Jul 30, 2025
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