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You know what's interesting is about trust eat investing it's when you really understand that's basically all it is your lender instead of the borrower right it seems so simple and yet it's really not that easy to be successful at it because we see a lot of people do it on their own and sometimes with not such good results yeah for a simple concepts there's a lot of very, very definite things that you want to watch out for which I'm sure we'll get into better it's its a very simple concept that has a lot of directions you can go basically if we're talking to an audience that really isn't familiar with it there's a couple of pieces of papers that are always a part of a transaction a trust deed and a promissory note so can you describe what a promissory note is yeah essentially both of those promissory note is simply almost what it says it's when you promise to pay someone back okay, so you're promising to pay someone back under certain terms certain conditions over a period of time and as it turned out that's kind of an important piece of paper to hang on to yeah absolutely okay yeah you want to keep that and then as you mentioned before the deed of trust what that makes it different that actually attaches it to a piece of property okay that's and that gets accomplished by recording at the recorders' office yes okay in the deed of trust there are three participants you have a trust or a trustee and a beneficiary you know just briefly describe who those guys are sure the beneficiary that would be the person that's actually lending the money okay the trust or that would be the person simply that's borrowing the money okay and the trustee is more or less we serve as the trustee on ours and what they're doing is some servicing aspects one example of that is when a loan is paid off the trustee handles the reconveyance, so essentially they're doing some the paperwork on the back side and things of that nature okay in a rare case that document allows the trustee to proceed if with a foreclosure if that ever became absolutely okay there are three participants involved in a trustee to investment as well, so you have a borrower, and you have a lender, and you have a broker yes, and you know we'll cover that a little more as we go through this, but a lot of people don't really understand the importance of the broker being in the middle, and you know that's again we've seen people try to take that on themselves and that's just it's not even necessary right and one reason it's not necessary because I think one reason people tend to say want to do things on their own because they can make more right I mean I think that's the one reason we all I'll do something is well I can make more it'll cost me less those are the two things right well interestingly enough by using a broker you're actually legally allowed to get a higher yield than you would be on your own and that's because of the user II laws in regard to trustees and I think in every other case when we...
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