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Agreement For Multifamily WarRoom Chairman’s Council

This Agreement is entered into between the signer below (“Participant”) and Multifamily Warroom, LLC (“the Company”).

 

CONTRACTUAL TERMS

By signing where indicated below, you irrevocably agree that the Company accepts your Enrollment as a participant of Chairman’s Council (the “Program”) as outlined in Addendum A of this Agreement. Upon execution below, this Participant Agreement (the “Agreement”) automatically becomes a binding contract between Participant and the Company.

 

TERM OF AGREEMENT

Participant’s term in the Program and the opportunity to attend all live programs, either on or offline, is 12 months beginning on the Effective Date and ending after twelve (12) months  unless otherwise agreed to in writing.

 

TERMS OF PAYMENT

 

  1.   Payment In Full
    1. In consideration for the Program, Participant agrees to pay in full $20,000 upon execution of this agreement.

 

  1.   Installment Payments
    1. In consideration for the Program, Participant agrees to pay $25,000 USD in installment payments
  • An initial deposit of $2,500  USD was paid to process Participant’s enrollment on the Effective Date; or,
  • Three (3) monthly installments thereafter of $7,500 USD each starting on the first day of the three months after the Effective Date; or,
  • In consideration for the Program, Participant agrees to pay $30,00 USD in monthly installment payments with an initial deposit of $2,500 and eleven (11) equal installments of $2,500 paid monthly, thereafter beginning thirty (30) days after the Effective Date..
    1. Participant authorizes the Company to charge their credit card or debit card, or cash their personal, business or cashier’s check, as indicated, for Participant’s participation in the Program.
    2. Participant further agrees that Participant is responsible for full payment of fees for the entire duration of the Program, regardless of whether Participant actually attends or completes the Program, and regardless of whether Participant has selected the Payment In

Full or Installment Payment option.

    1. Participant acknowledges and agrees no refunds will be issued and all monthly payments must be made on a timely basis.
    2. Participant acknowledges and agrees that a late payment charge will apply at a rate of 15% per payment, in the event any payment is not made within 10 days of due date.
    3. In the event there is a default in payment of any installment, at the Company’s option, the balance of the installments herein shall accelerate and become due and payable in full. Participant acknowledges and agrees this amount is a genuine estimation of our losses by reason of a breach and amounts to liquidated damages (and not a penalty).
    4. Participant acknowledges and agrees that the nature of the Program being provided requires the Company to allocate and set aside time for Participant’s requirements which cannot be replaced by the Company.

 

TERMS AND CONDITIONS

By signing below, Participant agrees:

  1. To all of the terms and conditions contained in this Agreement. The Company may amend this Agreement at any time by sending Participant a revised version at the email address Participant has provided. In the event the Company modifies the terms of this Agreement, Participant shall have 10 days after the Company email notice to Participant of the proposed changes to confirm acceptance of the modified terms. If Participant does not respond within 5 business days, it will be deemed that Participant accepts the revised terms.

 

  1. The Company may, at its sole discretion, terminate this Agreement, and limit, suspend, or terminate Participant’s participation in the Program without recourse or refund or forgiveness of monthly payments if Participant: 1) becomes disruptive or difficult to work with, 2) fails to follow the Program guidelines, or 3) impairs the participation of the Program coach.

 

  1. The Company respects the privacy of Participant in this Program as well as Participant’s confidential and proprietary information, ideas, plans and trade secrets (collectively, “Confidential Information”) and will not disclose such, without prior consent from Participant.

 

  1. Not to infringe upon any Company’s copyright, patent, trademark, trade secret or other intellectual property rights,

 

  1. That any Confidential Information shared by any representative of the Company is confidential and proprietary, and belongs solely and exclusively to the Participant who discloses it or the Company,

 

  1. Not to disclose such information to any other person or use it in any manner other than in discussion during the Term of this Agreement,

 

  1. That all materials and information provided to Participant by the Company are its confidential and proprietary intellectual property, belonging solely and exclusively to the Company and may only be used by Participant as authorized by the Company,

 

  1. That the reproduction, distribution and sale of these materials by anyone but the Company is strictly prohibited, and



  1. That if Participant violates, or displays any likelihood of violating, any of Participant’s agreements contained in this Agreement, the Company will be entitled to injunctive relief to prohibit any such violations to protect against the harm of such violations.
  2. THIS AGREEMENT DOES NOT CREATE AN ATTORNEY/CLIENT RELATIONSHIP IN ANY FORM.

 

INCOME DISCLAIMER

The Company has made every effort to accurately represent the Program and its potential. The testimonials and examples used are not intended to represent or guarantee that anyone will achieve the same or similar results. Each individual’s success depends on many factors, including his or her background, dedication, effort, time, reasonability, desire, resources and motivation.

 

Participant acknowledges that, as with any business endeavor, there is an inherent risk of loss of capital and there is no guarantee that Participant will earn any money as a result of participation in the Program.

 

MISCELLANEOUS

 

    1. This Agreement, including Addendum “A” attached hereto, constitutes the entire agreement between the parties hereto pertaining to the subject matter hereof and supersedes all prior agreements, understandings, negotiations and discussions, whether oral or written, between the parties hereto pertaining to the subject matter hereof.
    2. All event dates and locations are subject to change, due to attendance rates, acts of God and circumstances beyond our control.
    3. The Company is not qualified to provide legal, tax, accounting or financial advice, and the information provided to Participant by the Company is not intended as such. Participant shall refer all legal, tax, accounting, and financial related inquiries to appropriately qualified professionals.

 

A facsimile, electronic, or e-mailed copy of this Agreement, with a written or electronic signature, shall constitute a legal and binding instrument. By setting forth my hand below I warrant that I have complete authority to enter into this Agreement and agree to its terms.

 

Signatures:

 

PARTICIPANT: EFFECTIVE DATE:






PARTICIPANT: DATE:






Addendum “A”

 MULTIFAMILY WARROOM

CHAIRMAN’S COUNCIL PROGRAM

 

The Multifamily WarRoom (“MFWR”) has developed a training program for individuals, partners and companies looking to create a successful multifamily real estate investment business. Multifamily transactional attorney Charles Dobens and securities attorney Jillian Sidoti have merged their respective firms to create The Chairman’s Council Program.

The Chairman’s Council (“CC”) was created to provide a holistic approach to multifamily investing. In the past, investors interested in developing a multifamily portfolio would learn and source their information from many different places. As their development proceeded from the early stages such as deal evaluation and offer writing, to the raising of private money and syndication, they would need to find additional experts in those fields to take them through the minefields and get them to the ‘finish line’.

Attorneys Dobens and Sidoti realized that many of their clients were one and the same. When Attorney Dobens mentored one student through the purchase and sale stage of a transaction, he would pass that student over to Attorney Sidoti to begin the process of private money raising. Both Dobens and Sidoti realized that the likelihood of success of any student is better when they develop all aspects of their business at the same time. As Attorney Sidoti has stated time and time again, ‘you can’t begin the process of looking for money when you need it’. 

As a result, the MFWR Chairman’s Council Program was born. Under the guidance of two of the most respected and successful attorneys in their field, CC Members will be guided through all aspects of the creation of THEIR multifamily real estate investment business. At MFWR, we see our role as getting our clients over the finish line of their deals. As such, we have developed elements of the program to remove all roadblocks from the process and achieve the level of success they desired the day they started working with MFWR.

Here’s what you can expect when you enroll in the CC Program:

  1. Implementation – Upon acceptance to the program, you will schedule an implementation video call with Attorneys Dobens and Sidoti. They will do a deep dive into your business; what you have done, what you have not done and what you need to do immediately to get started. The discussion will include all aspects of your business: entity structure, partnership agreements, capital raising, websites, social media, branding. If it has to do with getting a business off the ground, it will be discussed.

At the end of the call, a plan will be developed that will require action on your part. In order to get access to other benefits of the CC Program such as partnering with us  on your deals or access to the Earnest Money Deposit Program (detailed further below), you will need to show substantial completion of the plan in order to access MFWR funding. We do not partner with investors who are not all in.

  1. Training – As a MFWR CC member, you will have access to over 1,000 hours of multifamily training videos created over the last ten years for clients of both Attorney Dobens and Sidoti. In addition, MFWR has developed training programs that train you in the integration of finding, funding and finalizing your multifamily deals. No other multifamily real estate program brings together and guides you through the entire process of acquiring and syndication of a multifamily deal. The training programs are high-level and intense. Many students compare it to taking a law school class in multifamily. That is our objective. We want you to become the expert in this field. If you need training in a particular aspect of the business, let us know. We have probably already produced a training class for that topic.

We also provide access to Doug Rutherford, CPA’s CashFlow Analyzer Software. This is the analysis software that we use to communicate with our students on deals. You will receive access to a nine-video tutorial from Attorney Dobens training you in all aspects of the program. You will be an expert in deal analysis when you have watched these videos.

  1. Access – Though you will hear both Attorney Dobens and Attorney Sidoti state over and over again ‘we are attorneys, we are not your attorneys, you will hire an attorney”, they run the CC Program like it’s a law firm. As a client of a law firm, you expect access to your attorney when you need them. When you are working on a deal and need assistance, CC members will have direct access to the staff at MFWR. You can text us, email us, call us and we will respond. There is no limit to the number of times you can access us and for whatever reason. Many people have been amazed when they hear of this type of connection with our staff. Many feel that we will be overwhelmed with requests. To date, no one has ever abused this feature. However, if you are found to be abusing this feature at the discretion of Multifamily Warroom, LLC, you will be removed from the program without refund. As a business owner, your time is also valuable. We quickly answer your question and solve your problem and get you back on track in your business. Having the most experienced attorneys in their field at your fingertips is more than what any other training program can provide. We love taking care of our clients.

 

 

  • Deal Flow - As a member of the CC Program, you will be trained in how to find deals where no one else is looking. Your search will not just be narrowed to the brand-named brokerage houses but also will focus on training you to find the owners and deal directly with them. In addition, the contacts that Attorneys Dobens and Sidoti have made over their legal careers are now resulting in deals being directed to our clients first. Many of our clients are in the process of selling their initial investments and choose to bring those transactions to the Chairman’s Council members first. Initial members will see this first hand as a current client is working with Attorney Dobens to bring his first deal to market.

 

 

  1. Making Offers – Over the years, we have watched new investors live in fear of getting their name out there; letting the world know that they are trying something new, something they have never done before. More failure has occurred by people not trying because of the fear of failing then actually failure itself. We will not let that happen to our students. We’ve got your back. All deal analysis on properties that you are working on will be reviewed by us. You will not make an offer until we have checked your numbers. All Letters of Intent will be reviewed by us. It is crucial that the offers are drafted the right way the first time. This will help you through the acquisition process as well as the raising money process.

 

Once your offer is accepted, we dig in and help you draft the purchase and sale agreement (“PSA”) for final review by your local counsel. Our PSA has been developed over years of experience in the transacting of multifamily deals. It is written to protect you, the buyer, from all potential issues that may come up during the process. As we have stated, we’ve got your back throughout the entire process. Your success is our objective.

 

  1. Writing the First Check – Working with thousands of new investors over the last decade, we have seen the same ‘roadblocks’ appear on every transaction – Money when you need it. The first time this happens for many new investors is when their offer is accepted and they have to write a check for the earnest money deposit. Does this describe your experience? How successful would you be if you never had to worry about where the funds are coming from ever again?

 

We have seen many new investors never get over this roadblock and therefore never succeed in this business. That is why we have developed the MFWR Earnest Money Deposit Program for our CC Members. This program can help you in two ways. First, if we at the MFWR like your deal and it meets our investment objectives, we will put up the EMD for you and become the first investors in your deal. But even if your deal does not meet our criteria, we will ‘lend’ up to $50,000 for your earnest money deposit (conditions apply). Regardless of the scenario, you will be able to make offers with confidence knowing that you have money at your fingertips.

 

  1. Building a Private Money Machine – As a successful multifamily real estate investment business owner, you have already begun the process of creating your Private Money Machine. Through the MFWR team, you will receive guidance and resources on creating an enjoyable investor experience: from first contact, to pitching your offer, to the investment experience, to distributions and closeout. Our system will assure that you take care of your investors from the very beginning and nurture that relationship for many deals to come. Not just in the digital age, but also through an age of COVID-19, you need to have the technology and systems in place to keep an investor fully engaged. Through our affiliations with various providers, we will guide you on how to set up investor funnels, investor platforms, and investor incentives to keep your investors happy.  

 

  1. Community – You are not alone. One of the nicest things about this business is that multifamily investors help other multifamily investors. Over the last ten years, we can share numerous stories of clients of our firms helping other clients. The MFWR CC Program is designed to do just that. You will have direct access to all other CC Members via our MFWR Slack Channel. Have a question, article to share, looking for partners? Post it on the channel and get to know your fellow members. You never know, one of them may become your business partner on your next deal.

 

  1. Getting You Approved – At one time, being approved for a multifamily mortgage was as easy fogging a mirror. Then the ‘Big Short’ happened and Fannie and Freddie changed their underwriting guidelines. Now, the requirements for getting a multifamily mortgage have reduced the pool of potential owners. But don’t worry, we’ve got your back. We can help you structure your deal so that you meet their guidelines? Need a Key Principal who has the net worth and liquidity to get your deal approved? No problem. We have a stable 
  2. of fellow CC Members who will partner with you to get you across the finish line. We have been doing this for years and it's one of the privileges of membership in the CC Program.

 

  1. Chairman Council Annual Event – We will not be living in a COVID world forever and soon we will be getting back to normal. When that happens, the MFWR will release information relating to the annual business meeting for all Chairman’s Council Members. These events include seminars from industry experts, panel discussions from other members and fantastic, fun events where you get to meet other members from all over the country. You will soon realize that the CC Program is more than a business event. CC Membership makes you part of a family of other like-minded investors who want to see you succeed as well.