Real Estate Investment Advice (JJ 677)
Transcript:
Jack Butala: Jack and Jill here.
Jill DeWit: Hello.
Jack Butala: Welcome to the Jack Jill Show, entertaining real estate investment talk. I'm Jack Butala.
Jill DeWit: And I am Jill DeWit, broadcasting from sunny southern California.
Jack Butala: Today, Jill and I talk about real estate investment advice. The most common questions that we both get will be answered here.
Jill DeWit: This is going to be good.
Jack Butala: It really is. I hope it's going to satisfy some of the most basic questions, like if you're a listener and you've never really engaged in any of this but you feel sorry for us, and you still have some questions about real estate in the back of your head ...
Jill DeWit: Feel sorry for us. Oh, my gosh. You're listening out of pity. What's that?
Jack Butala: That's what the show's about today. We're going to answer some of the most frequently asked questions that I get and that Jill gets, and we have not shared each other's lists so we don't ... Maybe we have all the exact same questions. I doubt it.
Jill DeWit: I don't think so.
Jack Butala: That's never happened to her.
Jill DeWit: Do you know what's funny? I don't want to make anyone not feel good about themselves, but they think that, they're like, "Oh, this is stupid." You know what? It's true. They always think, "Oh, this is dumb. I'm sure you've answered this a thousand times." Sometimes, I've never heard them. I've had some really good questions come to me and I'm like, "That's a good one and I can help." Then there are some that they're happy to know that they're not alone. People think that.
Jack Butala: Yeah, that's in our slogan.
Jill DeWit: This is true, and that's part of it. A lot of people don't realize that they're not alone in this, that it's just ...
Jack Butala: Sometimes there's such thing as a really stupid question, though, quite honestly.
Jill DeWit: Sometimes there is.
Jack Butala: It usually has nothing to do with real estate.
Jill DeWit: This is true.
Jack Butala: It has to do with psychology.
Jill DeWit: This is true.
Jack Butala: "Why can't I get the first deal done?" Those are the kinds of things. There's answers to this. That's not necessarily a good example, but it has nothing to do with real estate. That's actually inspiration, for you.
Jill DeWit: That's where I come in.
Jack Butala: All right.
Jill DeWit: Okay.
Jack Butala: Before we get into all that, let's take a question, posted by one of our members on the JackJill.com online community. It's free.
Jill DeWit: Brian asks, "Wondering how people doing deals in California that are offering owner financing are getting their third-party trustees. Title companies? What if you aren't using a title company?"
Jack Butala: That's an issue.
Jill DeWit: "Any loan servicing companies that you would like to serve as a trustee?"
Jack Butala: This is a very, very good question. It's the exact opposite of a bad question, like we were referring to earlier.
Jill DeWit: Exactly.
Jack Butala: What ends up happening ... There's two types of ways to seller finance property,