By definition, a technical investor is an investor who has the ability to understand and carry out instructions when it comes to the legal side of real estate documentation and conveyancing.
Simply put, they have the knowledge and skills to not only draft their own contracts but also carry out legal research, title searches and drafting deeds along with handling how they close a deal as well.
While this might seem intimidating, you have to take it slow, since this has to be learned in parts which involves learning key words and phrases as well as the structure of certain documents. Next, you have to learn how to use these documents as well by observing others using them. Finally, you have to ask a number of questions in order to understand them better, from the experts.
While you will start out with documents such as assignment contracts, there are others such as Options to Buy or Deeds that might be advanced. Some of these types include Bill of Sale, Assignment Contract, Deeds and Leases and Licenses.
Even though lawyers and title companies can help you with these documents, you can actually save a bit of money in create these documents on your own. Deeds, in particular, are simple to create even though they may not seem that way and yet without a doubt, can turn out to be a powerful document. Also, if legal words confuse, it’s a good idea to purchase a legal dictionary that will help simplify legalese.
Finally, it’s always best to close deals on your own especially if they’re not much when it comes to the money.
All this learning will help you become a technical investor and in turn will help you become an elite investor in the future.