Earnings Disclaimer and General Disclaimer
Earnings Disclaimer and General Disclaimer For All Real Estate Products, Courses, Boot Camps, Coaching Programs and disclaimer relating to all information on all Websites, Blogs, Capture Pages, and Live Events That Are Managed By, Promoted By, Owned Or Operated By Lex Levinrad And Or The Distressed Real Estate Institute™ and their staff.
This General Disclaimer is for all products, courses, coaching programs, events, web sites, webinars, email promotions, domain names landing pages, promoted by or operated by Lex Levinrad and the Distressed Real Estate Institute™. This disclaimer includes but is not limited to all of the real estate education and training products offered by Lex Levinrad and the Distressed Real Estate Institute including the Partnership Program, Proof Of Funds Letter, Real Estate Forms Disc, Partnership Program Forms Disc, Transactional Funding, Private Lending, Distressed Real Estate Boot Camp, Fixing and Flipping Houses Boot Camp, Group Coaching, Inner Circles, Live Events and Private Coaching, Mentoring with Lex or any of the Distressed Real Estate Institute coaches and all real estate coaching and training programs now and in the future including all Home Study Courses, Books, CD’s, Videos, Forms, Powerpoint Presentations, Webinars, Teleseminars, written testimonials, verbal testimonials, emails, JV promotions, affiliate partnerships, affiliate promotions, pictures and video testimonials and other material related to Lex Levinrad and the Distressed Real Estate Institute and any websites, capture pages, blogs or domains related to Lex Levinrad and or the Real Estate Institute or any of its affiliates, associates or partners or any website, email promotion or affiliate promotion of any other real estate related product or non real estate related product.
Potential purchasers of any of the products sold by Lex Levinrad or any affiliate promotions sold by or marketed by the Distressed Real Estate Institute understand and acknowledge the following:
Specific Disclaimer for The Distressed Real Estate Institute Partnership Program
The purpose of the Partnership Program is to have students locate suitable wholesale deals at 60% to 70% of After Repair Value (ARV). When the student finds a wholesale deal at a discount price we will market and advertise this property to cash buyers if we think it is a worthwhile deal for our investors. We do not guarantee that we will market your deal if it is not a deal (in our opinion) or if you do not comply with our policies as outlined at our Boot Camps and Partnership Program Orientation Sessions. If we do market your deal and we find a buyer then all profits will be split 50/50 net of closing costs and transactional funding fees. If you are in the Partnership Program you will need to sign a Partnership Program agreement which will be given to you at the Partnership Program Orientation and also at the Distressed Real Estate Boot Camp. The Partnership Program, Transactional Funding, Proof Of Funds Letter and Partnership Program Forms Disc are only to be used for properties that you plan on partnering with us per the terms of the Partnership Program. You are prohibited from using the Proof of Funds Letter or any of the Forms or materials for any other purposes other than for Partnering with us on wholesale real estate deals. The purpose of the Partnership Program is for you to help us locate wholesale deals for our investors. We are looking for wholesale deals anywhere in the U.S but not outside the borders of the United States. We are not interested in partnering with anyone on any real estate that is not located in the United States. Lex Levinrad and the Distressed Real Estate institute do not agree to partner with any students on any deals that are not wholesale deals (meaning discounted deals at 60% to 70% of After Repair Value). Lex Levinrad will have the final say as to whether a property should or should not be marketed to our cash buyers and other investors and Lex Levinrad will have the final decision as to what constitutes a wholesale deal. The proof of funds letter is limited to a maximum dollar amount of $200,000 and is only to be used with the permission of the Distressed Real Estate Institute and within the guidelines of the Partnership Program as outlined at the Distressed Real Estate Boot Camp and the Partnership Program Orientation. These guidelines are discussed in detail at the Distressed Real Estate Boot Camp and also at the Partnership Program Orientation Sessions and you will be required to attend both in order to be able to participate in the Partnership Program. Lex Levinrad and the Distressed Real Estate Institute will not partner with anyone including Partnership Program Students, Private Mentoring Program Students, Real Estate Coaching Students Group Mentoring Students and Distressed Real Estate Boot Camp students if their “deal” is not a wholesale deal and is not a discounted deal at 60% to 70% of After Repair Value (ARV). Lex Levinrad uses a comparable sales system based on sitexdata to evaluate After Repair Value and Lex Levinrad has the final say and decision as to the After Repair Value of a property. In addition to this, Lex Levinrad and the Distressed Real Estate Institute reserve the right to reject any deal for any reason whatsoever and the decision will be that of Lex Levinrad and the Distressed Real Estate Institute. Lex Levinrad and the Distressed Real Estate Institute reserve the right to reject any potential student or buyer for any reason at any time from any of our training programs including the Partnership Program and Distressed Real Estate Boot Camp. If you are a difficult person or you repeatedly choose to refuse to follow our instructions then we will no longer work with you. We will not issue you a refund if you attend all of our trainings and then refuse to abide by the terms and conditions of the Partnership Program Agreement which you will be required to sign when you attend the Distressed Real Estate Boot Camp and Partnership Program Orientation. If we decide to market your wholesale deal to our cash buyers and other investors both online and offline we do not guarantee that we will find a cash buyer willing to buy your deal. Nothing that we say online or offline should be construed as a guarantee that we will find a cash buyer for your deal and we do not warrant or imply in any way that we can definitely find you a buyer for your deal. If your deal is a very good deal (according to us not according to you) with no illegal additions at a good wholesale price and is located in South Florida then there is a very high likelihood that we will find you a cash buyer who is a landlord, investor or rehabber that would like to buy the property. However there is no guarantee that we will find you a cash buyer for your deal. Our primary method of marketing our deals to our cash buyers is via email blast. You acknowledge that our cash buyer database is primarily located in South Florida and as such we have a much higher likelihood of finding a cash buyer in South Florida than we do of finding a cash buyer for deals located in other States.
If we do find a cash buyer then all profit splits from deals will be split 50/50 net of all transactional funding fees and closing costs. In the event that a third party like another wholesaler or real estate agent finds a buyer then profits will be split equally between all 3 parties (unless real estate agent adds a commission). All profits are split net of all transactional funding fees and closing costs. Transactional funding fees are third party fees. Lex Levinrad and the Distressed Real Estate Institute will not partner with anyone that is not a registered member of the Partnership Program. The Partnership Program access is valid for 12 months only and will expire at the end of 12 months. Lex Levinrad and the Distressed Real Estate Institute will not fund any deals that do not pass the inspection and purchase price requirements of the Distressed Real Estate Institute. We will reject any deal that does not meet the guidelines as explained at the Distressed Real Estate Boot Camp and the Partnership Program Orientation. All wholesale deals will be closed at the title company that is selected by the Distressed Real Estate Institute and we only work with select and pre-approved title companies for double closings. We choose which title companies we work with and the student has no say in which title company we use. You must use one of our approved title companies in your State for the double closing. Partnership Program students, real estate coaching students and mentoring students will be required to use the property address and the words land trust after the property address as the buyers name on all purchase contracts for all properties. Students cannot use their own name or company name on the purchase contract if they want to partner with us on a real estate deal. If you use your own name or company name as the buyer then we will not partner with you, or market your deal or fund your deal. There are no exceptions. Students agree and acknowledge that the Distressed Real Estate Institute will establish a Florida Land Trust for the purpose of purchasing the property. The student acknowledges that Lex Levinrad and or one of his companies will be the 51% beneficiary of this land trust and the student or his/her company will be the 49% beneficiary of the land trust. Student agrees to comply with all requests for documents by the Distressed Real Estate Institute and any and all title companies involved in the transaction. Student will not divulge property address or any material information about any potential deal under contract to anyone other than Lex Levinrad and will not bring any wholesale deal to anyone else including other wholesalers, realtors, investors etc. other than Lex Levinrad and the Distressed Real Estate Institute while involved with the Partnership Program and utilizing the Proof of Funds Letter provided by the Distressed Real Estate Institute. The student is prohibited from marketing the deal themselves or trying to locate buyers for their deals and must not mention the property address or details of the transaction to anyone other than staff at the Distressed Real Estate Institute.The Distressed Real Estate Institute and Lex Levinrad reserve the right to terminate the relationship with the student at any time if for any reason they feel that the student’s behavior is inappropriate or uncooperative or violates the terms of the Partnership Program Agreement which the student will be required to sign before being officially admitted to the Partnership Program. Student will not market deals by themselves without first discussing it with the Distressed Real Estate Institute or notify anyone else of any deals that are accepted and will not share or divulge this information with anyone that is not directly associated with the Distressed Real Estate Institute. Proof of Funds Letter and access to Partnership Program are limited to 12 months from the date of purchase and additional fees apply to remain in the Partnership Program and have access to the Proof of Funds Letter. Currently the price to be enrolled in the Partnership Program is $1,497 for the first 12 months and then $97 per month. Prices are subject to change or increase at any time without prior notice. Occasionally the Distressed Real Estate Institute initial fee of $1,497 is waived for new Partnership Program students and sold as a promotional item that is included with the Distressed Real Estate Boot Camp ticket as part of a promotional package only when sold together with the Distressed Real Estate Boot Camp. There is no guarantee that this policy will continue and this promotional package can be discontinued at any time without prior notice. If we promote a special price then that promotion is only applicable for that event or webinar and will no longer be available after midnight EST of the day of the promotion. All of our prices are subject to change at any time without notice. Promo package can be discontinued at any time.
Specific Disclaimer as to profits made by current and former students of Lex Levinrad and the Distressed Real Estate Institute.
Please note that this earnings disclaimer relates to profits made by current and former students of Lex Levinrad and the Distressed Real Estate Institute specifically profits referenced in live stage events, podcasts, webinars, real estate meetings, powerpoint presentations, teleseminars, boot camps, seminars, workshops, meetings, orientation sessions and live real estate events as well as online on video testimonials, audio testimonials, photos and written testimonials both online and offline including all videos on any of our websites or on YouTube, Vimeo, Itunes, Stitcher or any other web site not specifically listed.
Please note that the profit claims made by students of the Distressed Real Estate Institute are true only for those specific students and only for those specific houses and may not be true for other individuals. If claims about results from the Distressed Real Estate Boot Camp, Partnership Program or Mentoring Program are made then such claims are true only for the persons who made the claims, including claims made by current and former students of Lex Levinrad and the Distressed Real Estate Institute.
Potential purchasers of any products sold by Lex Levinrad or the Distressed Real Estate Institute cannot simply rely on these statements as being duplicable by them because many factors can contribute and affect results. Some contributing factors include the amount of allocable time that the student has available to look for properties, budget and monetary restraints such as bills and household expenses, amount of time necessary to overcome the learning curve to learn how to wholesale, ability to operate as a real estate investor without income for a certain period of time, computer and technology skills, luck and many other contributing factors.
There is no guarantee that you will be successful or that you will wholesale or flip a house if you attend any of the real estate events training events, boot camps or coaching programs or purchase products sold or promoted by the Distressed Real Estate Institute. Some of my students have had a lot of success with my coaching programs and boot camps. However that does not mean or imply that because they had success with our boot camps and coaching programs and have made money that the same will happen to you. In this business there are no guarantees. And watching videos of my most successful students in no way implies or guarantees that you will be successful.
No material promoted by Lex Levinrad and the Distressed Real Estate Institute should be construed as an easy way to make quick profits. There is no such thing as easy profits without work and time and effort. Hard work and many hours making offers on properties will be required in all cases by all students. Even with hard work there is no guarantee of results. Many students quit. This is a fact. It takes hard work to learn how to wholesale. And you will need to implement all of the tools and systems that you are taught. You will need to spend many hours searching for wholesale real estate deals and overcoming the learning curve prior to attaining success. The typical profile of a successful student was someone that was willing to spend 40 hours per week making offers on properties, talking to realtors and visiting properties. If you do not have the time to make offers then you will not be successful. If you do not have the financial resources to make offers then you will not be successful either. It is no secret that over 90% of all real estate students do not even bother to finish reading the materials purchased, let alone implementing the practice steps and hard work required to be successful. The average learning curve of our students is 16 weeks (4 months) although we have many students that have successfully wholesaled houses in as little as a few weeks after attending their first boot camp. The effort you put into making offers will result in getting offers accepted. In other words the more properties you make offers on, the more likely you will get an offer accepted. If you want to get deals and get your offers accepted then must be ready to submit hundreds of offers. Yes I said hundreds of offers. If you don’t submit a lot of offers then you won’t get deals to wholesale which means you won’t make any money. We recommend to our students that they submit at least 5 offers per day which is 25 offers a week or 100 offers per month. If you are making offers on 100 houses and not getting a house under contract then you are doing something seriously wrong (like offering way too low). You will need to make at least 5 offers every single day to be able to get a house under contract in order to have a chance of wholesaling and flipping it to a cash buyer. And remember that just because you got a house under contract does not guarantee that you will flip that house or make a profit. And you will have to put up a deposit with the title company which you may lose if you do not cancel before your inspection period is over.
Potential purchases of any products should not assume that they or any other students will have the same success like the students in the testimonials or videos during the live presentation or webinar made by Lex levinrad. These students’ results are not typical of the average student that attends a boot camp and the profit made by these students is an example of the most successful examples of students that have attained success and these results ARE NOT TYPICAL FOR MOST STUDENTS THAT ATTEND OUR BOOT CAMPS OR COACHING PROGRAMS. Most of these students were Private Coaching Students working directly with Lex Levinrad which substantially increased their chance of success. For this reason Lex recommends the Inner Circle Group Coaching or Private Coaching directly with Lex if you can afford it and if it is within your budget and you are serious about real estate as a career and a business (not a hobby).These results are not typical of the average boot camp student and the potential purchaser of any of our real estate products, courses or boot camps and coaching programs should be aware of this and should not construe this as being the ‘average’ or usual success story. There is no such thing as a get rich scheme. If you are looking for quick profits with little efforts then this is not the program for you. If you are looking to work hard and roll up your sleeves then maybe our program is a good fit for you
Unfortunately, or fortunately the sad truth is that the most successful students are those that are willing to work the hardest. Being successful as a real estate investor requires work, time and effort and the average student will face a 4 month learning curve before all of the material starts to come together and makes sense for them. Some students take a lot longer than that. Case in point, Lex spent 2 full years working as a bird dog for two real estate investors BEFORE he had the confidence to go out on his own and start investing for himself. During this two year period Lex was not paid a salary. If he found a deal and the deal was flipped or purchase by an investor then he got paid 25% of the profit on the deal. Lex is offering you 50% of the deal (double what he made in his first two years). If you find the deal and Lex finds the buyer the deal is split 50/50 which is very fair. However it is UP TO YOU to find the deal. and it is UP TO YOU to apply the training, the principles, the systems and to PUT IN THE TIME to make offers and get through the learning curve. Some of our successful students took as long as 9 months to do their first deal! Most new investors will quit way before this learning curve is complete because of many reasons. Some of these reasons are lack of patience, lack of money, lack of will, laziness, inability to learn or comprehend the subject material, impatience, the desire to get rich quick (you cannot get rich quick it is impossible), lack of desire or focus and inability or just plain lack of motivation to put in the hours necessary to be successful (that’s the plain hard truth folks and the truth hurts).
If the product the buyer is purchasing is a physical product like a Home Study Course, Audio CD Set, Forms Disc, Book, DVD etc. or a live coaching or group coaching or private coaching, the promotional materials that make claims about the results from the use of this product, boot camp or coaching program, buyer hereby warrants that they understand that these results are not typical and that they should not necessarily expect the same results for themselves. Purchasing this or any other product will not necessarily deliver those same results to any particular buyer and in fact most buyers who purchase this product do absolutely nothing with it (the cold hard truth hurts folks).The buyer also acknowledges that after purchase of the product and receipt of the product the amount paid for the product is NOT REFUNDABLE after 3 days of receipt of the product. We do this to stop people from copying our material and returning the product. Yes it is not nice that we have to do this but people do try and copy our material and return it (they even have the audacity to tell us this). That is why we have that 3 day policy to prohibit this. If you purchase any of our products you are not allowed to copy any of our copyrighted material and are not allowed to share, loan or gift our products including our books, forms and Home Study Courses, coaching materials, access to any of our sites etc. to anyone. Buyer is prohibited from putting any of our products or courses online anywhere including on Ebay, Craigslist or any other online auction site. We will protect our copyright vigorously to the fullest extent and maximum amount permissible by law.
Some of the products sold like the Proof of Funds Letter, Partnership Program and other products which may be added or changed from time to time have an expiration period. For example email support is limited to 6 months for most products and Proof of Funds Letters and Access to the Partnership Program are limited to 12 months after which time there is a recurring monthly fee of $97 per month. which will be required to be paid to continue having access to the partnership program, proof of funds letter and training site.
Where this disclaimer and claims made in sales and promotional materials or the product are in conflict, this Purchase Agreement shall be controlling except, and unless, the Seller deliberately misled the Buyer or if such construction would cause material inequity. The sole burden is on the Buyer to substantiate any deliberate deception. Buyer accepts the obligation to reimburse the Seller for all court costs, investigation costs, attorney fees, and all litigation-related costs in the event Buyer brings suit against the Seller and does not prevail in court or at arbitration. In the event of a dispute buyer agrees that the venue and location for resolving the dispute will be in the State of Florida in Broward or Palm Beach County and that the dispute will be resolved by arbitration.
No warranties are made whatsoever about the amount of money, if any, that buyer will make or profit from any material or product or service sold by the Distressed Real Estate Institute and buyer warrants and understands that all claims verbal or otherwise by anyone including past students, past employees, current employees or associates of the Distressed Real Estate Institute about success of past students does not necessarily mean that buyer will meet with any success. Technology is important when making offers. If your computer skills are limited then you will be at a substantial disadvantage to other investors with better computer skills. You will be required to have a digital camera, a computer, internet access, a pdf scanner and will need to be proficient in the use of all of these in order to submit offers and communicate with our offices in a timely manner. If you are broke and cannot afford a computer, scanner, smart phone etc. then you should probably look for a job instead of signing up for this program. If you are not working or are broke then PLEASE GET A JOB and do not rely on this or any other product to save you from your financial situation. It is impossible to learn how to wholesale if you do not have a job or any income or a way to pay your bills, your rent, your mortgage etc. DO NOT GO INTO DEBT OR USE A CREDIT CARD to pay for this program if you cannot reasonably pay off that credit card in a reasonable period of time. You will need to have at least $1,000 deposit when you make offers on properties and we will not put up deposits for you. You will need to have the cash to put up deposits on every property that you get under contract. In some cases deposits can be as much as 10% of the purchase price. And while you are making offers and trying to get houses under contract you will need to have a way to pay your monthly expenses and bills especially for the first 6 months while you learn. YOU CANNOT RELY ON THIS PROGRAM to pay your bills. If you do then you will waste your money and be disappointed. If you need a quick way to pay your bills then go get a job NOW. Wholesaling real estate is a business. It is competitive. It takes time to learn. No business creates instant profits. But if you apply yourself and work hard you can make money flipping properties. When you start learning how to wholesale in many cases you are competing with other buyers that may have much more money than you. As such you need to treat it like a business. This is a business and it will require startup costs, time and money and training in order to be successful. And it will require a learning curve. A reasonable period of time for a learning curve is 4 to 6 months. If you are not willing to put in the startup capital, invest with your time and your money and educate yourself and complete the training then you won’t be successful.
Specific Disclaimer About Our Refund Period
Buyer understands and acknowledges that there are no refunds after 3 days from purchase of the product. In the event that the buyer has entered into a payment plan the buyer will still be bound to continue the payments as specified in the payment plan even if they do not attend the boot camp or any of the other training sessions. Buyer will sign and will be required to sign to that effect even if the buyer no longer wants or is interested in the product, Home Study Course or Boot Camp. In the event that the buyer does not attend the boot camp and fails to notify us of the fact that they will not be attending the boot camp then they will lose their credit for the next boot camp. If you notify us that you are not able to attend the boot camp then we will give you credit for up to 12 months to attend another boot camp. It is the buyer’s responsibility to make sure that the Distressed Real Estate Institute has a valid email address for you and that the Distressed Real Estate Institute emails are not going into the buyer’s spam or junk folder since email is our primary form of communication. Please notify us if you change your email address. We send out emails a few times a week. Please let us know if you are not receiving our emails. For any questions about this Disclaimer please email [email protected] or call our office at 800-617-2884