We are in for the Long Haul

Transcript: 

Jack Butala:                         Jack and Jill here.

Jill DeWit:                            Hi.

Jack Butala:                         Welcome to the Jack Jill Show, entertaining real estate investment talk. I'm Jack Butala.

Jill DeWit:                            And I am Jill DeWit broadcasting from sunny, southern California.

Jack Butala:                         Today Jill and I talk about how we are in it for the long haul. Those specific signs that you just know that you've turned the corner. You've done a few deals and you're in it for the long haul.

Jill DeWit:                            I thought it was going to be about Jill, are you wearing the data is the new bacon t-shirt again? Because you're just so in love with data now which I never was.

Jack Butala:                         That's one of the signs.

Jill DeWit:                            Thank you.

Jack Butala:                         Did you ever hear those jokes like you might be a redneck.

Jill DeWit:                            Exactly. Here's how I know. Every vacation is not really a vacation. It's just ... Every vacation is not a vacation. It's only a new area to check out property.

Jack Butala:                         That's what it is. That's one of my signs.

Jill DeWit:                            We haven't scoured this area yet. I didn't know we'd be looking at property here Mazatlan but I guess we are.

Jack Butala:                         It's just a new data set. Everything's just a new data set.

Jill DeWit:                            Exactly. Hey Jill, while you're in Seattle next week, will you please drive by these locations for me and take some pictures? Yes.

Jack Butala:                         You know it's funny you bring up Seattle. It's one of the lowest days on market environments in the country. For some reason, they can get deals done in Seattle, house deals, in six, seven, eight days.

Jill DeWit:                            Here it comes. I'm waiting for it. I'm going to be there.

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

Jill DeWit:                            Okay. Steven K. asks: I'm wrestling with whether to let my buyers handle the final closing documents for filing with the county. As another member, Luke, has pointed out to me, they will screw it up is a possibility. True. The transfer tax is almost 2% though and recording is $75 for the first page.

Jack Butala:                         Hello California.

Jill DeWit:                            Right. So I'm contemplating whether to send a closing documents package with instructions or biting the bullet and just paying these fees myself and interfacing with the county.

Jack Butala:                         Jill and I are going to agree on this.

Jill DeWit:                            I will need original signatures for the transferred tax document from the buyer anyways though so I'm struggling a little bit with which way to go.

For me, do you want me to answer?

Jack Butala:                         Yes.

Jill DeWit:                            For me, not a big deal. Honestly.

Jack Butala:                         Which way would you do it? You have your seller ...

Jill DeWit:                            I've done it both ways.

Jack Butala:                         What he's saying is this. You post a piece of property on the internet for sale, a $5,000, five acre property in California. And somebody says, I want to buy this property and you say, great. I'm going to send you a bill or click on the thing. Charge the credit card. Okay, great. You bought it. You send them a deed package and you sign the deed over to them. A deed is not a contract, by the way. It's just your signature and you have two choices at that point.