How to Survive an Inevitable Economic Downturn

Transcript: 

Jack Batell:                          Jack Batell with Jill DeWitt.

Jill DeWit:                            Good day!

Jack Batell:                          Welcome to our show today. On this episode, Jill and I talk about how to survive the inevitable economic downturn. Can you make this show fun, Jill?

Jill DeWit:                            You know, I would just like to point out just once again like every show, I'm here on time, happy with bells on.

Jack Batell:                          Oh my God.

Jill DeWit:                            Acutally, today I was on time.

Jack Batell:                          This is the first time you've been on time ever.

Jill DeWit:                            Well, wait a minute.

Jack Batell:                          Actually.

Jill DeWit:                            For you on time is early. So, that means I was early. So that ... It's only taken me how many years to figure that out about you?

Jack Batell:                          Before we get into this, let's take a question posted by one of our members on the www.landinvestors.com online community. It's free.

Jill DeWit:                            Okay. Allan asked, "I've got a seller who's skeptical about cashier's checks," and wants to know what kind of work work arounds aren't a lot of trouble. Especially since it's a $2,000 deal.

Jack Batell:                          What's the view? What do you think about that? It doesn't happen to me. This is a not so infrequent. It's a very good question, by the way. And not a very infrequent problem.

Jill DeWit:                            I don't understand why people are not comfortable with cashiers checks.

Jack Batell:                          So for the record cashiers checks are like money, by the way.

Jill DeWit:                            Exactly.

Jack Batell:                          It's green money.

Jill DeWit:                            Exactly.

Jack Batell:                          It's pulled out of your account when you get it.

Jill DeWit:                            Yeah.

Jack Batell:                          And by the way, it says right on there it's only valid for 90 days and then it's not but that's a bunch of malarkey.

Jill DeWit:                            Well you know what then.

Jack Batell:                          I've deposited cashiers checks like big ones, like three years later.

Jill DeWit:                            Oh really?

Jack Batell:                          Yeah.

Jill DeWit:                            Okay I recently had a check that didn't go through but we won't go there. But it was not a cashiers check though. That's probably why.

Jack Batell:                          Really?

Jill DeWit:                            Yeah, it's okay, it was 100 bucks. I could care less. But with a cashiers check ...

Jack Batell:                          So good that I don't know about that.

Jill DeWit:                            Exactly. This to me is kind of where does a guy want a money order? I mean what does a guy want?

Jack Batell:                          Probably.

Jill DeWit:                            I mean you could almost do green cash. I  just am not comfortable sending that in the mail. Because ...

Jack Batell:                          I wouldn't.

Jill DeWit:                            Because you're not ... Cause LEt me back up. How would the transaction is usually played out is the person, the seller, is stand there with a notary and the deed and the seller is agreeing to sign a deep right then and there in from of the notary for the transfer of the property and at the same time, the notary's handing the seller a cashiers check.

Jack Batell:                          The buyer.

Jill DeWit:                            Yeah. Selling to seller. I'm talking ... It's a seller so he's buying it.