Debt is Bad Equity is Good (JJ 640)

Debt is Bad Equity is Good Transcript:  Jack Butala:                         Jack and Jill here. Jill DeWitt:                          Oh my goodness. Hi. Jack Butala:                         Welcome to the Jack Jill Show, entertaining real estate investment talk. I'm Jack Butala. Jill DeWitt:                          And I'm Jill DeWitt, broadcasting from sunny Southern California. Jack Butala:                         Today, Jill and I talk about how debt is bad, but equity is good. Jill DeWitt:                          I had to try to trip you up there. It's just too fun. So I'm going to- Jack Butala:                         That goes against every single radio, audio ... tripping your co-host up, and I'm all for it because it goes against everything. Jill DeWitt:                          You know what? When have you known me to go with the flow and just be a sheep, you know? Jack Butala:                         Exactly. Jill DeWitt:                          Again, boy, my parents wish I would go with the flow and be a sheep, but no, no, no, no. Jill has to do it her own way. Jack Butala:                         Well if that is bad, and equity is good, then how the hell can you ever get anything done if you don't have any money? Jill DeWitt:                          Yeah, what do you drive around in? I don't understand. Jack Butala:                         That's the answer. Jill DeWitt:                          This is odd. Jack Butala:                         You will get the answer to that. Jill DeWitt:                          It's not possible, is it? Jack Butala:                         You will get the answer to that question, Mr. Bender, next Saturday. Jill DeWitt:                          Oh thank you. Jack Butala:                         Breakfast Club. Jill DeWitt:                          Got it. Jack Butala:                         Before we get into this topic, we're going to go ahead take a question posted by one of our members on that jackjill.com online community. It's free. Jill DeWitt:                          Okay. Julian R. Asked, "Hi. I wanted to know if you also experienced ... " oh boy. I love this first sentence. "I wanted to know if you also experienced frustration with title companies." Can we just stop there? Jack Butala:                         We could do a whole podcast on that topic. Jill DeWitt:                          I could stop there, but this is a good question. I'm going to read the whole thing here. "I have lost my second deal today, because the seller backed out on deals more than $5,000. Kids wanted to keep the land in the family even though it has not been used in years. It seems like the solutions/options are, one, keep losing deals." That's just part of the business, since the seller was not really motivated in the first place. Jack Butala:                         No, that's not one. Jill DeWitt:                          "Two, close with a notary first, then get title," but it kind of defeats the purpose. Jack Butala:                         That is a fantastic solution. Jill DeWitt:                          "Three, find a much faster company to close with using such as TitleMind, when it is ready over three weeks in both cases." Jack Butala:                         You can't pay for publicity like that. Jill DeWitt:                          Right. "We'd love to hear your experience with this kind of issue." Jack Butala:                         Can I start with a story? Jill DeWitt:                          Sure. Jack Butala:                         I drove to Flagstaff and stayed for two days training ... This is a lot of years ago. Training a First American Title group of people in an office up there, and they were experienced, because it's a small town. They were just ready to have 30 to 80 more deals a month. They were staffed up for it and ready and it seemed like a perfect...