Video instructions and help with filling out and completing Who Form 5495 Agreements

Instructions and Help about Who Form 5495 Agreements

Hello everybody welcome to class again I got Kristen and Pam here with me Pam's from Virginia Kristen you're from Texas right correct I remember you guys from last time so this is great you guys are here because we could follow up on a lot of concepts that we did last time in our last sessions you're going to see a lot of them connected so just to quickly review a few things um we're here to learn about real estate passed the exam is what we want to do right yay passed the exam yeah yeah hey okay and just to review as well from our last class for people who are watching this on video this should be a key part of your studying plan anybody says just do one thing all you need to do is come to class all I need to do is watch my videos all you need to do is to practice questions or the flashcards is a liar do not rely one thing so that you could make money and start selling real estate the specifics and the details really should be nailed out and you do those practice questions but by sitting here through this webinar you will get a better idea of the bigger picture because if you're just doing the practice questions sometimes it's hard to fit them in and it makes it almost more confusing as it doesn't really make sense but if you have a good foundation then everything kind of falls into place very nicely our rules from yet last time use the mute button appropriately you guys know if there's kids or family or dogs behind you sneak it up we'll pause for questions and stay on focusing on past exam and remember I'm not a lawyer okay you guys ready yeah overlaps thing I forgot and if you like what we do don't forget to say side nice on my LinkedIn profile LinkedIn comm slash Joe judor okay so what we wanted to do today was contracts and government powers but when I was looking today at preparing this lesson I realize there's a good amount we could go over with contracts so we may not get to government power but if that's really important to you I'm happy to review it but I really wanted to stay focus on contracts today because that's a central part of real estate and a huge part of your exam so let's start with this do you guys know the four centrioles of a valid contract all right so the first one we got here you guys read it for me about capable your parties like right here yeah evil parties good second one where's this awful object waffle object third one it's a kind of information most important one there that's why we're doing this we don't want to be poor right Hey and offer an offering acceptance there you go we got to know those four essentials of a valid contract you should be able to say it like blindly cable pardons lawful logic consideration offer and acceptance cable parties lawful object consideration offer an acceptance after an acceptance could sometimes we call meeting of the minds mutual consent but either way it means the same thing you want it I want it great high five we're good to go okay so you've got to have those four so you guys ready for your first question early on I know it's quick we just started ready yet that's ready okay so let's look at this question and see what you guys think the answer is it would be okay so can things be Christian wouldn't you think huh let me see a I think it's a I'm sorry Wow yeah you're easily swayed huh I jumped the gun I had to agree I had to read I had to go over it again I say I agree with christen okay okay okay B hello let me give you guys a little hint with test taking your fish first impulse is almost always correct uh yeah okay so I've been doing the exam prep going on 15 years now and one thing I've learned is first impulse is always correct when you second-guess yourself and you're not sure you usually end up adding it into the wrong answer now obviously there's good times to review questions and see you did what you didn't do right so and you may find some valid things like oh what was I doing that wasn't right but if you're ever not sure and you're torn between two answers go with your first impulse okay so my other advice to you when you're taking the test jot down your first impulse always so very often when you take a test you guys look at a question saying I'm going to come back to that question do you guys do that yep so when you guys do that the danger is you come back you don't remember your first impulse wasn't also you may have run out of time by the end of the exam you may be tired there may be many factors so on your scrap paper jot down what that first impulse was when you do come back and your brain is drained you're right on time at least you remember what the first impulse was you'll just fill in that answer these as shown here with Pam the first impulse was correct okay so we look at this one it's lawful object competency and mutual consent and consideration performance is not a part of a valid contract before contract is essentially establishing you want somebody to perform it's not performance itself okay so you see it here and there yeah and execution contract says I want you to perform I want you to execute this it is not the performance itself that makes sense it's an