How to Separate Escrow Service & Title Policy

Jack Butala: How to Separate Escrow Service & Title Policy. 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 Butala: Jack Butala with Jill DeWit.

Jill DeWit: Howdie.

Jack Butala: Welcome to our show today. In this episode of Jill and I, Jill becomes a cowgirl. No, in this episode, Jill and I talk about how to separate escrow, escrow service, and title policies. Great show today, Jill. Sounds like it might be a little technical. We'll have as much fun with it as we can. Before we get into it let's take a question posted by one of our members on successplant.com, our free online community.

Jill DeWit: You're just thinking about me in cowboy boots now.

Jack Butala: I don' t ever stop thinking of you like that, trust me.

Jill DeWit: Chaz asks, "Hey guys, I got myself into a bit of a pickle. I'm not advertising terms on my ads, but after constantly getting emails from people asking, and also realizing I've sold a few and I could use some monthly cash flow, I started telling people I could. Most quit, never emailed back when I told them what I wanted for a down payment. Now someone bit and is in a time crunch to get them on the property."

Jack Butala: That's good.

Jill DeWit: "I have no idea where to start and I don't feel like going back through the DVD's." This is great.

Jack Butala: I can't take watching this thing anymore.

Jill DeWit: Oh my gosh, Chaz, that's so good.

Jack Butala: That's awesome.

Jill DeWit: I don't feel like going back through the DVD's.

Jack Butala: You know what, Chaz, I don't feel like doing them anymore either.

Jill DeWit: That's so good.

Jack Butala: You think that's hard to watch, you should try actually doing it.

Jill DeWit: And editing it. "No offense, y'all, they were great, lol. I feel the same as I did when I was stuck on deeds. Every time I read through the file my eyes glaze over. What all is needed to get this transaction done? Property is in ex state. Any help is greatly appreciated." It says, but I'm not saying it.

Jack Butala: Can I answer this first part of this?

Jill DeWit: Sure.

Jack Butala: Chaz, I am right there with you buddy, paperwork, me and paperwork, we don't mix well. You've got to do a couple of these yourself. You've just got to get through it. Sounds like this is one of your first ones. The good news is that topic by topic Jill and I are creating companies to help you. If you can't stand the paperwork, there are note servicing companies out there that can help you. They charge a little bit every month, but they'll help you, they'll take all the white paperwork out of your life. Jill and I were starting on, in the works several other companies. To help you really immediately there's an evergreen note servicing will help you immediately. They have all the contracts, we have contracts in the program. There are note contracts that you can use directly.

Jill DeWit: That's how I took what he was asking. You really have two choices, Chaz, you have to go back and you either A) Figure it out, or B) Hire somebody. It's kind of whatever you want to do. You know what my number one is, don't hire them yet. Hire them when you're a pro and it's taking up your time and it's taking you away from other things that's costing you money, then hire somebody. At the beginning, I hate to say it, but go back and figure it out.

Jack Butala: You've just got to. I hate to say it, she's right.

Jill DeWit: The big thing is, Chaz, it's not that big of a deal. Let me just bring it down just real quick here. You don't have to go back and study what we talk about, let's just think about the big picture. Your and your buyer just need to agree on the terms. That's number one.