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hey guys welcome to the youtube channel we're going to get right into this topic everybody wants to know this in fact if you go to youtube and you type in the search bar pacemorby one of the top searches is morby novation agreements now i do a lot of innovation agreements i teach innovation agreements but i rarely talk about it on the youtube channel it's a little bit more of a ninja strategy in terms of acquiring and fixing and flipping a property now first thing you want to know about innovation agreement is that the strategy with the novation agreement is always going to be a purchase and flip you're not going to hold it it's not a long-term investment novation agreements are a fix and flip strategy only now there are three types of ways to do a novation agreement first and foremost let me explain to you what an ovation agreement is a novation agreement is where i go to a seller let's say that a seller has a house and let's say this seller's name is eric because this guy eric has a videography business and he's pretty dope but you know what eric's like i'm ready to sell my property i want top dollar i'd say my house is worth four hundred thousand dollars on zillow or whatever right mls whatever that's the arv four hundred thousand dollars and he knows that his house is kind of run down because he's been treating it like a studio and beating the out of it so he knows that it's kind of run down he needs to sell it at a discounted price there's all sorts of investors that are offering like 275 right that's where typically most investors are going to offer is 275 000 eric says you know what dude like that's not good for me i don't want that 275 000 but you know if i could get 300 000 i would sell well the challenge there is that everybody's offering him 275 so the obvious answer is for a straight cash deal the market is telling you eric that this house should be sold for 275 000 well that's where a novation agreement comes in if you are a fix and flipper or a wholesaler you can come in and offer eric three hundred thousand dollars with a novation agreement versus a wholesaler offering 275 or a traditional cash buyer 275 and you would both end up making the same amount of money which is crazy to think about a novation agreement is technically your ability of telling the seller i want to fix and flip your property without ever buying it yes that is correct i want to fix and flip your property eric without ever buying it okay now there are three ways to do this and i'm going to go into that in a second but i want to make sure you understand ovation agreement entirely not entirely...