Sellers Need to Trust You by Jill (LA 911)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Howdy.

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

Jill DeWit:                            And Jill Dewit, broadcasting from sunny Southern California.

Steven Butala:                   Today Jill and I talk about how sellers need to trust you, and this episode is really by Jill. I can't describe how important trust is when you're doing a real estate deal.

Jill DeWit:                            Totally. I'd like to point out, by the way, because I'm looking at it right now. It's episode 9-1-1. Isn't that funny? It's like, Emergency. I need to get the sellers to trust me. 9-1-1." I can help.

Steven Butala:                   It is raining and thundering and lightning outside, and we are like 50 yards from the ocean. It's a little scary.

Jill DeWit:                            It is. I'm a little excited. It's kind of like I'm outside looking; it's all dark. I feel like, is there a tornado coming? I don't know.

Steven Butala:                   I hope it's showing up where ... I hope you can hear it on the mike.

Jill DeWit:                            That would be cool.

Steven Butala:                   The roof's shaking, that's for sure.

Jill DeWit:                            That's true.

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

Jill DeWit:                            Trevor asks, "Hey, guys. I was curious if anyone has sold any properties via option/double closing, whatever you want to call it. I have wholesaled a couple of houses in my day, but that was with a title company, and I knew, and with buyers [inaudible] new, and with buyers I already had lined up."

Steven Butala:                   Yeah, that's the right way to do it.

Jill DeWit:                            Right. "My question is, do I just need to sign to get them to sign option agreement and then find a title company to do a double close? I've got several folks with forty thousand dollars or so properties who are willing to sell them at about 50 to 55% of market value, but not the 33 to 35% of market value that I offered. Is there any way to get something like this done without complete hold of hands?"

Steven Butala:                   Hold on, let's answer that question. Is there any way to get an option agreement done without a lot of work and a lot of maintenance and a lot of phone calls and hand holding? Jill DeWit.

Jill DeWit:                            I'd do it.

Steven Butala:                   Without work?

Jill DeWit:                            Without [inaudible] I'd have a conversation with them, but it's not a lot of work, but I'd have a conversation with them, tell them what I'm doing, explain the whole process.

Steven Butala:                   That's a lot of work.

Jill DeWit:                            Get them to sign an agreement; I guess it is a lot of work. So ...

Steven Butala:                   You don't see it that way because you just love doing these deals.

Jill DeWit:                            Yeah, but

Steven Butala:                   And I say that with total affection and respect.

Jill DeWit:                            Thank you.

Steven Butala:                   But option agreements are a lot of work, but they also don't require any money.

Jill DeWit:                            True. Then the next, the followup here,