Ask These 5 Questions To Find An Investo...

happy Any investor will tell you: Without a good title company, your closing is DEAD.

Hey Moguls, Matt Andrews back again to share with you today the 5 key questions I always fire at my potential title companies.

Before that, though… because I’m still a bit wet behind the ears here at Mogul, I want to give you just a bit of insight into who I am and what makes me tick.

I’ll Admit It, I’m A Serial Entrepreneur

So, I’m a real estate investor, serial entrepreneur, growth hacker, film producer and #1 bestselling author. Bam! In short, I’m a busy guy.

I specialize in cutting-edge real estate strategies, and I’m probably best known for the “Real Estate Investors Guide” book series, the “Real Estate Freedom Podcast,” and “Real Estate Freedom.”

And as they say, behind every good man is a good woman. My wife and I love to travel, and we make time to contribute in various ways to our beloved charities: Khusi Hona: The Indian Orphan Project, the Rising Heroes Project, and Jamobility: The Jamaican Wheelchair Project.

So that’s me. Let’s talk today’s lesson, shall we?

A Must: Solid Title Company

A title company’s knowledge is vital to the success of your transactions. Full stop. Period. So you’ve got to ask the right questions to find out if a title company is really right for you. I’m talking about briefly (but thoroughly) interviewing each and every title company that you’re going to consider working with.

But before you can ask questions, you have to know who you’re going to ask. What title companies should you interview? I’ve had great experience with personal recommendations and referrals. Ask other investors who they know, trust and recommend. One great experience doesn’t always guarantee another, but solid recommendations are a great place to start.

So what questions do you ask?

Think no further. I’ve thought it through and interviewed more title companies than you could imagine! The questions you need to ask are direct, and truth be told, pretty basic. If your potential title company struggles to answer any of these, run away and don’t look back.

The Fab 5

#1. Do you work with other investors?
The answer better be a big, fat YES every time. Ask the title company for a brief background on the companies and investors they’ve previously done business with. You want to know that your title company can talk the talk and walk the walk.

friends #2. Can you perform a double or simultaneous closing?
You want an agent proficient in this practice. If the company raises an eyebrow or if they say double is illegal (that makes me laugh every time because it’s sooo not illegal), you say: “Thanks but no thanks.” An experienced, reputable title company will understand that double closings are absolutely legal, and they will know how to execute double closings with ease.

#3. Do you handle assignment contracts?
Again, if the company barks, you bail. Period.

#4. What’s the turnaround time for title commitments?
This is a crucial detail especially for wholesalers who typically work on a time crunch. The right answer is 24-48 hours.

#5. Do you offer discounts for investors?
Let your title company know that if your business relationship works out, you plan to throw repeat business their way. So, naturally, you should expect some sort of preferred or discounted fees in return.

And there you have ‘em. Write these 5 questions down and commit them to memory. I strongly advise you to use these questions when you’re in the process of interviewing and hiring a title company that needs to be investor-friendly.

With these questions on your arsenal, you’ll find one (or more) with ease.

{Mogul Elite: Download a transcript of this lesson in the Power Pack Tools section}