This Agreement is between the Distressed Real Estate Institute, LLC and the student signing this term of use agreement.
You are receiving unlimited access to the Proof of Funds Letter site today and you will continue to have unlimited access as long as you pay your monthly membership fee of $47 per month.
Access to the Proof of Funds Letter Site Includes:
- Unlimited Proof of Funds Letters Up to $300,000
- 24/7 Access to the Proof of Funds Letter Web Site
- Custom proof of fund letters created by student
- Unique POF for each property and purchase amount
- Technical Support for use of the proof of funds letter site
- PDF copy of Proof of Funds Letter emailed to you
Please Note There Are No Refunds for Any Prior Monthly Charges Incurred and there are no Prorated Billings. You can cancel your monthly membership at any time by emailing [email protected]
PLEASE READ THESE TERMS BELOW CAREFULLY AS THEY CONSTITUTE AN AGREEMENT FOR HAVING ACCESS TO THE PROOF OF FUNDS LETTER SITE. ALL MATERIAL IS COPYRIGHT PROTECTED BY LEX LEVINRAD AND THE DISTRESSED REAL ESTATE INSTITUTE AND ALL INFORMATION OBTAINED VIA THE USE OF THE PROOF OF FUNDS LETTER SITE WWW.MYPOFLETTER.COM IS CONFIDENTIAL AND SHOULD NOT BE SHARED WITH ANYONE. THE ONLY ONE AUTHORIZED TO RECEIVE A COPY OF THE PROOF OF FUNDS LETTER IS THE LISTING AGENT AND YOU.
1. The Monthly Membership Fee is not refundable under any circumstances. You can discontinue your monthly membership at any time by emailing [email protected]
2. All Proof of Funds Letters will be created by the student and our staff is not authorized to assist you in preparing your Proof of Funds Letters or in giving any advice as to your purchase price or how much to offer. The only assistance our staff will provide is technical assistance in how to use our site or receive your letters.
3. No promise is made that we will offer any type of funding for any deal that you make an offer on using our Proof of Funds Letter. If you would like to submit a request for transactional funding you may do so by emailing [email protected] but we are not implying or guaranteeing under any circumstances that we will offer you transactional funding or any kind of funding.
4. We will not be held liable for the use or misuse of this proof of funds letter or the use or misuse of the proof of funds letter web site www.mypofletter.com by
you or any other parties that you give a copy of the letter to.
5. You agree to hold Lex Levinrad and the Distressed Real Estate Institute harmless from any outcomes that can occur using the proof of funds letter or the proof of funds letter web site.
6. You can register with one name only and you cannot make any changes after you have registered. Please remember your name and email that you registered with since if you lose this you will be required to register with a different email address. Please use your legal name as it appears on your valid U.S drivers license.
8. We will not fund any transactions where the BC closing is with a title company other than one of our preferred title companies. If your deal is in any State other than Florida, then an outside transactional funding company will be utilized for transactional funding. If your deal is in Florida we may offer transactional funding if you use one of our authorized title companies like Independence Title.
9. We may choose at our discretion to fund your deal if it fits within our guidelines. If it is within the State of Florida we may fund your deal ourselves using our own capital. If your deal is located outside the State of Florida we can refer you to an outside transactional funding company but cannot guarantee that they will fund your deal nor can we be responsible for anything related to the transaction.
10. Under no circumstances will we offer a hard money loan to you. Having access to the Proof of Funds Letter site does not mean that we will offer you a hard money loan. If you would like to submit a hard money loan application, you may do so by emailing [email protected]
11. If we do decide to offer transactional funding for your deal then you will be required to sign a separate transactional funding agreement.
12. Under no circumstances will we fund any deals that are not double closed on the same day with one of our preferred title companies like Independence Title. We will not fund any deals that are not double closed on the same day under any circumstances.
13. All email correspondence between student and our support desk is confidential and will not be shared with anyone under any circumstances. Do not forward any emails from our support desk to anyone and do not print or let anyone other than yourself see our email responses to you. If you are no longer a subscriber and are no longer paying your monthly membership fee then you are prohibited from using our proof of funds letter site or sharing any of our email correspondence with you.
14. Student will not share any information or material learned from the use of the Proof of Funds Letter site with anyone else including how the proof of funds letter site works or any information obtained on the proof of funds letter.
15. Student will not give anyone access to their user id or password under any circumstances. Doing so will be grounds for immediate termination. All IP Addresses are logged for this purpose.
17. Student understands that all information obtained and learned from the Proof of Funds Letter Site and the Proof of Funds Letters is proprietary, confidential and not to be discussed, shared or distributed with anyone else.
18. In the event of legal action the laws of Florida will prevail, and the case will be arbitrated in Florida by an arbitrator selected by the Distressed Real Estate Institute and the Distressed Real Estate Institute reserves the right to unlimited punitive damages since the business may be irreparably harmed by misuse of the Proof of Funds Letter Site.
19. All material is copyright protected by Lex Levinrad and the Distressed Real Estate Institute™. Student agrees not to share access to the proof of funds letters, the training videos, or the Proof of Funds Letter web site. If student does share this information, and damages occur via the sharing of this information then the student agrees that they will be liable for paying all legal costs for the Distressed Real Estate Institute.
21.These terms are subject to change at any time so please visit our site regularly to make sure you agree to these terms.
22. The Distressed Real Estate Institute and Distressed Real Estate Institute makes no promises either verbally or otherwise as to how much money student can make, or if they will be successful making offers or finding wholesale deals by using the proof of funds letter. Testimonials of success from other students do not necessarily mean that student will meet with the same success as past students. Another students’ success does not mean that you will be successful.
23. If student asks for advice from support staff regarding a deal via email or otherwise, student acknowledges that support staff and all Distressed Real Estate Institute employees will not be held liable for anything at all related to your offers including offers not made or forfeited, deposits lost, deals missed etc. Under no circumstances will the Distressed Real Estate Institute Staff be held liable for anything related to any guidance given via email or over the phone or in person. Please note that all phone calls to our office are recorded and saved for this reason. By signing this agreement, you agree to have all telephone calls recorded.
24. It is not the responsibility of the Distressed Real Estate Institute staff to “walk you” through your first deal and any guidance on using the Proof of Funds Letter Site shall be construed as simply guidance and suggestions and should not be considered as legal, tax, or financial advice and the student expressly acknowledges and understand that Distressed Real Estate Institute staff will not be held liable for support given and that Lex Levinrad and the Distressed Real Estate Institute will not be held liable for any advice or support given by any Distressed Real Estate Institute staff, employees or coaches.
25. Please consult with your attorney, CPA or financial advisor for legal, tax or financial advice. Our support desk is not qualified nor authorized to give any advice and any suggestions they give you should under no circumstances be construed as legal, tax, or financial advice.
26. Student should not make offers on any properties where there is no inspection period. Student should not bid on properties online on auction sites like Auction.com, Hubzu.com and Xome.com and any other auction sites if there is no inspection period unless student is willing to lose their deposit. Student SHOULD NEVER EVER BID ON A FORECLOSURE AUCTION AT THE COUNTY COURT HOUSE. Be aware of the auction.com listings which are actually foreclosure auctions and DO NOT BID ON THOSE.
27. The student will need written confirmation that their purchase contract has been cancelled prior to the end of the expiration period from the agent. If you don’t have written agreement from the real estate agent or seller that they have cancelled your deal, then you may lose your deposit.
28.Once you cancel a deal, student revokes all rights to that specific property and the realtor that gave them that property since other students, the Distressed Real Estate Institute staff, our acquisitions department or other wholesalers and or associates of the Distressed Real Estate Institute might put the same property under contract. Student acknowledges that once they cancel a contract they revoke all future rights to profits from that property and any deals from that realtor or real estate agent. You don’t have “rights” on that agent or that deal. All deals are publicly available and advertised on the MLS so just because you once had it under contract does not mean it is your deal if you have cancelled it or made an offer on it. This applies regardless of where the property is listed including any and all online sites and auction sites.
29. Student will not hold Lex Levinrad or the Distressed Real Estate Institute responsible for deposits that are not returned to student under any circumstances.
30.Lex Levinrad and or the Distressed Real Estate Institute will also not be liable for any actions taken by any title companies, or any other third parties that are not directly owned by the Distressed Real Estate Institute. The Distressed Real Estate Institute is not affiliated with any one specific title company and does not warrant or represent that they own or are affiliated with any one title company. We have no ownership interest in any title company. We simply “prefer” to do business with title companies where we have an established relationship like Independence Title (especially if we have to wire our own money to fund deals). Lex Levinrad and the Distressed Real Estate Institute will not be responsible for the actions of third parties like loss of deposits or other actions from title companies under any circumstances (including our preferred title companies).
31. Student is responsible for cancelling their contract prior to the end of the expiration period. The Distressed Real Estate Institute will not be responsible for deposits that are forfeited if student fails to cancel their contract within the inspection period. It is NOT the responsibility of Lex Levinrad or the Distressed Real Estate Institute staff to remind the student to cancel their contract. All cancellations must be in writing and signed by the seller and returned in writing to the student prior to the end of the inspection period. Verbal cancellations are not valid, or binding and all cancellations should be in writing or you will LOSE YOUR DEPOSIT. You have been warned about losing your deposit multiple times in this term of use agreement.
32. This agreement is limited to use of the Proof of Funds Letter site and does not give you any access to any of our other real estate training programs and does not give you access to support other than technical support related to use of the proof of funds letter web site.
33. It is recommended that student never deposit an escrow deposit of more than $1,000 deposit on any property EVER. There are no exceptions to this. Please keep in mind that any deposits you place with a title company may be at risk and by placing a deposit with a title company, attorney or seller you are acknowledging that there is a risk that you may not get your deposit back and may lose your deposit. We will not be held liable for your lost deposit under any circumstances. For this reason, it is prudent and necessary and recommended for the student to not put up a deposit at all until there is an end buyer in place with a signed contract and a deposit.
Your deposit is not our responsibility or our liability. The liability of the deposit is yours 100% and you accept this liability when you put any deposit in escrow. Under no circumstances will we be responsible for your lost deposits.
34. The Distressed Real Estate Institute will not assist student with their deposit under any circumstances. This is the responsibility of the student regardless of how many properties the student has under contract.
35. Student acknowledges that they are in a financially sound situation where their month to month bills are being paid on time and that they have adequate financial resources to commit to making offers on properties and using the Proof of Funds letter site. If you are desperate to make money, then please get a job and do not rely on our proof of funds letter to be your ticket to making fast money (there is no such thing)
36. No refunds will be issued to students that are terminated for violating any terms of this agreement. If you violate anything in this agreement we will cancel your membership to our proof of funds letter site and you will be banned permanently from all of our real estate training programs.
37. Student will always be respectful of Lex Levinrad and his staff and will always conduct themselves in a professional manner when interacting with the Distressed Real Estate Institute staff, support desk and or the Distressed Real Estate Institute coaches, associates and title companies. If student yells at staff, swears, or speaks inappropriately to our support staff then student will be terminated immediately from our program. If student keeps calling instead of submitting email support tickets, then they will be terminated from our program.
38. If any of the above terms of this agreement are violated by the student, then the relationship between the Distressed Real Estate Institute and student will immediately be terminated, the monthly membership fee will be cancelled, and no refunds will be issued for past billings.
39. Transactional funding is NOT hard money and we are not representing that we will loan you any hard money on any deals at any time.
40. Student agrees to hold Lex Levinrad, the Distressed Real Estate Institute and all coaches, students, affiliates and employees of the Distressed Real Estate Institute harmless for any acts that might result out of student’s activities in real estate, buying and selling properties, making offers or otherwise both during and after the termination of access to the Proof of Funds Letter Site.
41.This Proof of Funds Letter agreement and its contents are private and confidential and shall not be shared with or discussed with anyone other than Lex Levinrad, the Distressed Real Estate Institute or employees or associates of the Distressed Real Estate Institute or your attorney prior to signing this agreement.
42. Proof of Funds Letter are emailed via Go Daddy Mail Relay Servers. Usually Proof of Funds Letters arrive within 10 minutes but occasionally the Go Daddy Mail Relay Servers can be backed up (especially during a DOS Attack). We will not be held liable for proof of funds letters that are not emailed on time by third parties like Go Daddy or deals that were forfeited because you could not receive your proof of funds letter on time.
BY SIGNING BELOW I AGREE TO ALL OF THE TERMS OF THIS AGREEMENT