Our Multi Million Dollar Urban LA Mailer with Jill DeWit (LA 1107)

Transcript:

Stephen Butala:                Steve and Jill here.

Jill DeWitt:                          Hi.

Stephen Butala:                Welcome to the Land Academy show, entertaining land investment talk. I'm Stephen Jack Butala.

Jill DeWitt:                          And I'm Jill DeWitt broadcasting from sunny southern California.

Stephen Butala:                Today Jill and I talk about our multi million dollar urban Los Angeles mailer. It's kind of an interview with Jill DeWitt.

Jill DeWitt:                          Thank you.

Stephen 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 DeWitt:                          Okay. Another Stephen asks, "Have any of you used an escrow for reduced fee, just review the documents and generate a preliminary title report for the buyer on a terms deal where the title will not change till the land contract terms are met and the parties are okay transferring funds directly? So no escrow service needed for that function." I've not done that, but it's not a bad idea. Because in the past if I need a title, if it was a title worthy property, we would've bought it with title, I would've shared that with my buyer, and that would've satisfied the request, if you will. So I'm guessing that you don't have that. So I think this is a great solution if you don't have it. I would absolutely do it, but I've never done it before.

Stephen Butala:                This is a super, I posted this question, I copied and pasted this question onto Land Investors and it's got a tremendous amount of response. Apparently a lot of people in our group do this. I've done it in the past many times. It's expensive. What you really want to do if you're serious about this, the value is this. You can get this data, this preliminary title report from Data Trace for like $80 or $90. And you can get it very, very quickly. What you don't get with Data Trace is an opinion.

Stephen Butala:                So if you order this from let's say First American title agent who's local to the town, they know a lot of stuff and they pul the report or they order it from title or however they come about it, they're going to have a lot of opinions, which are good. That's what you're paying for. This is going to cost you $500 to do it. It can cost you less than $100 with Data Trace. And for some people actually, just this is part of every deal they do.

Jill DeWitt:                          I guess, too, because we're not doing terms deals, so it's not like an issue. And most of the deals we're doing right now are large enough that we're just doing title insurance, there's no talking about it. But that's a good solution. I love it.

Stephen Butala:                Today's topic, our multi million dollar urban Los Angeles mailer with Jill DeWitt. This is the meat of the show. So give us some background on ...

Jill DeWitt:                          What this is?

Stephen Butala:                Yeah.

Jill DeWitt:                          Okay.

Stephen Butala:                This is the primary mailer that we're involved in as land investors right now, house academy or house investors.

Jill DeWitt:                          Yeah. It really is-

Stephen Butala:                Start from the beginning.

Jill DeWitt:                          House/land.

Stephen Butala:                How we came bat to do this mailer?

Jill DeWitt:                          Well, one of our members happens to be in the community we are in and has been doing deals on a smaller scale and built up a large buyers list and pretty much can't keep up. That's my interpretation of it. So kind of came to us and said, "Hey, let's work together. I have, because of my inside information and where I work and everything here in Los Angeles, I have a huge list of buyers and I've been doing deals wit...