Yes, a napkin really works as a valid contract.

I previously wrote you about the lady that bought a wholesale deal from us --- had $10k under her bed (in small bills I think) -- read about it here.

I completely forgot that she was so determined to see the property that very same day that I showed it to her on my way from another part of town without having a contract on hand.

When this happens, what do you do? Do you delay the appointment?

Nope.

You write it on a napkin, of course (or in my case, the back of a sheet of blank paper)

Here it is...

I could have worried about getting it all perfect, but I was most concerned with getting the deal locked up.
I think I had all of the appropriate pieces to a contract (I think) -- closing date, parties involved, property address, etc.

Feel free to point out what I missed in my hand-written version -- we did have our disclosures signed at closing [every other company including real estate agents, mortgage companies, and title companies have their own ''hold harmless'' agreements that the seller must sign at closing so we figured why not create our own?? you can never have too many legal documents stating that the buyer is buying the property 'as is' can you?]

They wanted a copy of this thing right then and there, and there was no local copy shop around, so I hand wrote a second copy. Thank goodness I kept this thing short and sweet!

We purchased for $12,900 and sold for $20,400 on the same day!

Educational Tip: If you are new to wholesaling, it is a niche form of real estate investing where you find a great deal, tie it up with a purchase contract, and sell it to an end buyer (typically the same day) for a profit.
Yes, there are a lot of moving parts that go into this process and you first need some basic education.
But you don't need every course on the market and once you have the basics down, it's time for you to take action!