Establishing Seller Trust (JJ 666)

Establishing Seller Trust Transcript:  Jack Butala:                         Jack and Jill here. Jill DeWit:                            Hello. Jack Butala:                         Welcome to the Jack and Jill Show, entertaining real estate investment talk. I'm Jack Butala. Jill DeWit:                            And I'm Jill DeWit, broadcasting again from sunny Southern California. Jack Butala:                         Today, Jill and I talk about establishing seller trust. The good, the bad, and the ugly. Jill DeWit:                            I was going to say, we're going to start with first an example of what not to do, and then we'll fall into what you should do, yes. Jack Butala:                         What if we just had a show about just doing it right all the time? Jill DeWit:                            Oh that would be boring too. You've got to show that we even fall down a little bit too. Jack Butala:                         We just pat each other on the backs all the time and say, "It's so easy to be a real estate investor. Everything single deal." Jill DeWit:                            "Everybody should do it. You win on every deal. Oh yeah and it's so easy, you don't need to train people. You just hand them a phone, they'll figure it out." Jack Butala:                         We could make cartoons like Walt Disney and make a theme park called "Real Estate Success". Jill DeWit:                            Right. Love it. Jack Butala:                         What would you name the rollercoasters or the rides? Jill DeWit:                            The rides in Real Estate Success? Jack Butala:                         Yeah, the theme park. Jill DeWit:                            Oh..."Losing My Ass". "Drop". Jack Butala:                         "Fatal Real Estate Agent". Jill DeWit:                            "Fatal Real Estate Agent". "Big Flub 101". I don't know. I don't know. Jack Butala:                         "Should I Get A College Degree?" That could be one ride. Jill DeWit:                            Oh that's a good one. That's true too. Jack Butala:                         It's a small one. Jill DeWit:                            "I Borrowed All the Money I Could Get My Hands On." Jack Butala:                         "I Over-leveraged This House". Jill DeWit:                            Yeah that's it. Oh no. That's good. 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:                            I over-leveraged my house, oh my god. I over-leveraged my you-know-what. Okay. Jack Butala:                         Shouldn't have married this girl. Jill DeWit:                            Oh, Jack. Now. Jack Butala:                         That's a side theme park. Jill DeWit:                            Okay. That's a whole other show. Jack Butala:                         Did you ever play that board game "Life" as a kid? Jill DeWit:                            Yeah. I mean, I never played it as a kid, I only played it as an adult. I always thought, as a kid, it was too hard and it was stupid. Jack Butala:                         It was stupid. Because life is stupid really. Jill DeWit:                            As a kid I was like, "Why would you want to play this game, where you get married and have kids and there's college and everything?" I thought that was stupid. That's not a kids' game. Jack Butala:                         See, you're intuition was totally correct. Jill DeWit:                            It's wrong. Don't do that to your poor kids. Jack Butala:                         Not even adults really want that. Jill DeWit:                            Do you know what? The only game that was also up there was Risk. That was kind of hard for me, like, playing -