Deed Pass-Through Defined
Jack Butala: Deed Pass-Through Defined. Every Single month we give away a property for free. It's super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening.
Jack: Jack Butala with Jill DeWit.
Jill: Hey.
Jack: Welcome to our show today. In this episode, Jill and I talk about what a deed pass-through is, deed pass-through defined.
Jill: I'm not even sure.
Jack: That's why ... That's why I threw it in [inaudible 00:00:12] Recurring question and success plan we're going to talk about in a few minutes. Before that, let's share something interesting that happened to us lately Jill.
Oh, it's me. I'm supposed to say it.
Jill: I'm looking at you like, "Wait".
Jack: Today is Wednesday and I am so happy to report that I ... Wednesday is the day that I do, what we call around the office, deal-review. It's a chance for our members to schedule calls, and talk to me and say, "Hey. Would you do this deal? I got this deal, I'm thinking about doing it. Should I do it?"
Well, there's one ... One of our members, he's now officially our star-member. He has calling me just about every Wednesday to review deals for maybe 2 months. I think, as a member, I think he's 2, maybe 3 months into this with us. He's officially clearing 100,000 dollars a month, cash flow.
Jill: That's awesome.
Jack: Unbelievable.
Jill: Exactly.
Jack: I'm not going to ... he said it's okay to disclose his name, I'm not going to do that.
Jill: I think it's good if we don't.
Jack: We'll put a whole thing together at some point with the calls, and get him directly involved, because we all want to know his secret.
Jill: You know it's funny, I know one little thing about this person, is that, we weren't his first encounter with this. He was like a lot of people that have come to us, that have tried other version of what we do. Trying to be investors and learning about the business, but they ran into ... They're missing a lot of the pieces. This person I know came, to us and clearly got ... Now has all the answers, because clearly, now, he's very successful. It's not like the guy's not motivated man, the guy is clearly motivated. Now he's doing what he wants to do and all that. It's really good.
Jack: I asked him why he's so successful and some people aren't, and he said, "It's because I have to know ... I have to have the answers to everything. I have to know the why." That's how he put it.
Jill: I love it.
Jack: W H Y, you know. That really makes a lot of sense.
Jill: That's what we do, we help you. That's part of the show.
Jack: Yeah, that's what this show is.
Jill: Yeah.
Jack: Boy, he listens to the show too. He says, "You know what you said on the show last week, this and that." It's amazing.
Jill: Good.
Jack: I'm super proud of him.
Jill: Me too.
Jack: All of our members are killing it in their own way, but this just happens to be ... He just figured ... Made this work for him really, really well.
I feel like a parent ... it's just weird.
Jill: Parental pride.
Jack: Yeah, I just feel proud.
Jill: It's the same ... It's interesting, you're right. It's the same feeling, and I think it's the most wonderful thing.
Jack: Jill, let's take a question posted by one of our members on the Land Academy online environment, community.
Jill: Soon to be the Jack and Jill online community.
Okay, not that we're going to change it again, but we're going to land on one, I promise.
All right. Ron asks, "If I'm buying property from Jose 'blank' in California, and he's married, but the vesting deed shows just his name, what are you requiring the spouse to sign? Are you requiring the spouse to sign the purchase agreement, or adding an extra signature line on the new deed? I'm assuming leave the grantor name as Jose 'blank',