How to Find a Money Partner (LA 796)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Good day.

Steven Butala:                   Welcome to the Land Academy show, entertaining land investment talk. I am Steven Jack Butala.

Jill DeWit:                            And I am Jill DeWit, and we are broadcasting from sunny Southern California.

Steven Butala:                   Today Jill and I talk about how to find a money partner. It's our number one frequently asked question.

Jill DeWit:                            Yeah, funny. I see it all over social media, not even just in our area, too. So many people are ... There's like three things that they are hung up on, and this is one of them.

Steven Butala:                   Yeah.

Jill DeWit:                            First, it's finding the deals, and then they find the deals, and then they're like, "I don't know how to fund the deal."

Steven Butala:                   Yeah.

Jill DeWit:                            Well that ... No kidding.

Steven Butala:                   Well, finding the deal is like 80% of the battle.

Jill DeWit:                            Right.

Steven Butala:                   I think. That's what we talk about constantly.

Jill DeWit:                            And if you have the right deal, I know it sounds silly, but I feel like a good deal, the money's there.

Steven Butala:                   Oh, yeah.

Jill DeWit:                            That's the thing that people don't understand, so I know you're going to cover all that.

Steven Butala:                   I'm filming Land Academy 2.0 right now-

Jill DeWit:                            Mm-hmm (affirmative).

Steven Butala:                   And we make ... It's all about creating equity, so-

Jill DeWit:                            Yeah.

Steven Butala:                   Very, very quickly, I mean the way you create equity is by buying a property for less than it's worth that day, or-

Jill DeWit:                            Exactly.

Steven Butala:                   Buying it and fixing it up.

Jill DeWit:                            Exactly.

Steven Butala:                   Which one do you want to do? I know which one I want to do.

Jill DeWit:                            Me, too.

Steven Butala:                   Before we get into it, let's take a question posted by one of our members on the LandInvestors.com online community. It's free.

Jill DeWit:                            Matt asks, "Hey everyone. I've been working on building out my own Podio CRM for my acquisition virtual assistant." VA, good job. "I recently sent a 2,000 unit mailer that put about 30 leads, I'm probably going to close on three to five of those sellers-"

Steven Butala:                   Good numbers.

Jill DeWit:                            "Through the CRM funnel with her, and we were really getting that part of the process streamlined. Now, I'd like to expand her role to be the person who sends a Purchase Agreement off to the title company, and manages that interaction. I was hoping to leverage the collective experience of the group to see if anyone has outsourced their interactions with the title companies."

Steven Butala:                   That's a good question.

Jill DeWit:                            "How do you structure your staff to interact with title companies? Does anyone have experience trying to outsource this part of the business? What has worked for you?" Of course, we've done this.