Land Academy Shifts into Third Gear for 2022 (LA 1639)

Land Academy Shifts into Third Gear for 2022 (LA 1639)

Transcript:

Steven Butala:
Steve and Jill here.

Jill DeWit:
Good day.

Steven Butala:
Welcome to the Land Academy Show. Entertaining land investment talk. I’m Steven Jack Butala.

Jill DeWit:
And I’m Jill DeWit. Broadcasting from the valley of the sun.

Steven Butala:
Today Jill and I talk about how Land Academy is shifting into third gear for 2022.

Jill DeWit:
You just brought this up on Clubhouse last week.

Steven Butala:
I have. I have this thing about there are stages in everything. Usually four stages. Three or four stages in everything. So Land Academy is getting into stage three. Which, stage three of everything is the most exciting for me. It’s like, “Yeah, we know what works!” I’ll explain it all, but stage four is where it all works and you’re just eating bonbons and hanging out. It’s not that fun.

Jill DeWit:
By the way, I was going to thank everyone who suffered through yesterday’s show. It was kind of a hodge podge of topics. I think it was funny though. I just wanted to get that out of there.

Steven Butala:
Oh yesterday’s podcast?

Jill DeWit:
We were all over the place. It’s kind of like, “Who are these people?”

Steven Butala:
You know, if your girl’s like mine, the holiday season is here. So everything is a distraction from that. See, Jill’s whole life right now is about Thanksgiving. By the time this airs, Thanksgiving might even be on.

Jill DeWit:
It will be Tuesday.

Steven Butala:
And then it’s about Christmas after that. And then it’s about New Year’s. We have a tremendous amount of decorations for all of these holidays. It really starts with Halloween. So working for Jill is no fun.

Jill DeWit:
What?

Steven Butala:
Because it gets in the way of decorating and getting turkeys and stuff.

Jill DeWit:
You don’t work for me. You don’t work for me.

Steven Butala:
I didn’t say that.

Jill DeWit:
Oh, okay.

Steven Butala:
I said, working for Jill is a real distraction against what she wants to spend time on, which is the holidays.

Jill DeWit:
I didn’t understand the way you worded that, but I think I know where you’re going.

Steven Butala:
It’s a backwards compliment. So really Jill sitting here just doing the show is getting in the way of what she wants to do for Thanksgiving.

Jill DeWit:
Oh! I’m like, where are you going with this.

Steven Butala:
Mm-hmm.

Jill DeWit:
I understand.

Steven Butala:
That started yesterday with the podcast. Before we get into it, let’s take a question posted by one of our members on the landinvestors.com online community. It’s free and don’t forget to subscribe on the Land Academy YouTube channel and comment on the show as you like.

Jill DeWit:
Nick wrote, “I got a 50 acre … Are we going to use this word?

Steven Butala:
Fifty acre access list.

Jill DeWit:
Thank you. Parcel for 42,000. He used the word that started with an L for those of you who are listening and I just hate that word. We both do. Before acquiring, we spoke with property owners around it until we came across a nice lady who was willing to give us an easement for next to nothing. Now we’re under contract to sell. What did we buy for again?

Steven Butala:
Fifty.

Jill DeWit:
Fifty thousand.

Steven Butala:
Forty two.

Jill DeWit:
Now we’re under contract to sell for $210,000.

Steven Butala:
Buy for 42, sell for 210.

Jill DeWit:
Because he made a call and found a nice lady who would give access.

Steven Butala:
Because they got on the phone, ran down Joe’s checklist for when you buy a property. Talk to the neighbors. And they made $158,000. More than that.

Jill DeWit:
Ding ding.

Steven Butala:
One-hundred and seventy.

Jill DeWit:
Beautiful. Is there any more to it?

Steven Butala:
Nope.

Jill DeWit:
Okay. That was awesome. So there was really no question.

Steven Butala:
No.

Jill DeWit:
That was just a statement.

Steven Butala:
This whole week is really a celebration of, because it’s Thanksgiving.

Jill DeWit:
Good.

Steven Butala:
A celebration of …

Jill DeWit:
Me?

Steven Butala:
Yes, Jill.

Jill DeWit:
I’m thankful for you. Are you thankful for me?

Steven Butala:
Yesterday, we were at … Yes, I’m very thankful. Yesterday we were at Costco trying to beat the rush for all this Thanksgiving stuff, and mission accomplished there by the way. And Jill leaned over the Costco jewelry case and said, “I would like this one, and this one, and this one.” To which I said, “Let’s just buy it all now, and I’ll wrap it and put it under the tree.” And she said, “Okay.”

Jill DeWit:
Perfect.

Steven Butala:
Is it going to make it that long?

Jill DeWit:
Oh yeah, I’m good about that.

Steven Butala:
Okay.

Jill DeWit:
I’ll forget about it. It’s really kind of nice. I’m good. I can keep secrets and I’m good about … I love surprises. If you tell me, “Don’t open that door, because your present’s in there.” I won’t open it.

Steven Butala:
So it got me thinking, women like jewelry. Or Jill does anyway. And there’s no limit it seems to how much shoes and stuff, for Jill anyway. What’s the man version of that. What’s my version of “There’s just no limit to what I would …”

Jill DeWit:
Fishing equipment?

Steven Butala:
No, I don’t have any. Honestly, I have all the guns I want. I have all the outdoor stuff I really want.

Jill DeWit:
Really?

Steven Butala:
With few exceptions. Sometimes you need little parts and stuff. I’ll tell you what I limitlessly collect, and I was thinking about this as we were checking out of Costco, and it’s land. Limitlessly collect land.

Jill DeWit:
That’s your man candy.

Steven Butala:
As long as it’s really cheap on the buy side.

Jill DeWit:
Right.

Steven Butala:
Man candy. I’m thinking maybe man jewelry.

Jill DeWit:
Okay.

Steven Butala:
Man candy. How do you come up with stuff like man candy?

Jill DeWit:
I don’t know.

Steven Butala:
Jill likes to cross phrases like what she meant was eye candy and man jewelry.

Jill DeWit:
Man jewelry.

Steven Butala:
Man candy. Maybe you want some man candy.

Jill DeWit:
Maybe I want that. How do you know that’s … You know what babe? I said exactly what I meant to say.

Steven Butala:
Then you said, “Hey, Jack, maybe it’s your man candy.” Trust me, I don’t need any man candy. You might need some man candy.

Jill DeWit:
Maybe I do. I could use a little man candy. All right.

Steven Butala:
Today’s topic, how Land Academy is shifting into third gear for 2022. This is why you’re listening.

Jill DeWit:
This is how we stay G rated.

Steven Butala:
It is.

Jill DeWit:
No kid got that.

Steven Butala:
Yeah they did. These kids know everything these days.

Jill DeWit:
Oh, okay.

Steven Butala:
Every once in a while, probably once every six months we do a show called the stages of wealth. And it’s usually me, and Jill sits there quietly. The first stage of wealth I think is … I’ll coincide the four stages of Land Academy. Again, we’re sliding into number three here.

Steven Butala:
The first stage of wealth for me is make more than you spend. Both of us have separately had times in our lives where we spend more than we make. And that’s no freaking fun.

Jill DeWit:
Nope.

Steven Butala:
It’s terrible.

Jill DeWit:
Yep.

Steven Butala:
You get out of first gear, or the first stage of wealth I should say. You’re finally making more than you’re spending. Your rent is less than your paycheck. Stage two is you’re actually saving money. You’re at a point where where whatever revenue you have coming in, or income you’re having come in, you’re accumulating some of it. Stage three is you start to have a balance. You have a balance sheet. You know what you’re doing now. You have a career or you have a job or you bought a house. So you’re starting to really accumulate a balance sheet, create a balance sheet. You’re planning for the future. Then stage four is, “I got it.” I’ve institutionalized this whole thing. We’re making tons and tons of money to the point where you start thinking about giving it away or inheritance or legacy.

Jill DeWit:
That’s it. I think that’s stage five. You think it’s all stage four? I think stage five is like, now you’re giving back and you’re not necessarily buying a hospital wing, but you’re doing stuff [crosstalk 00:07:35]-

Steven Butala:
Yeah, hospital wing’s good.

Jill DeWit:
Okay.

Steven Butala:
Some people don’t need to go past four. Some people can get a hospital wing.

Jill DeWit:
Right.

Steven Butala:
There’s one of two of those people in this group right now.

Jill DeWit:
Are there really?

Steven Butala:
Yeah, you’re the hospital wing person.

Jill DeWit:
I’m not a hospital wing. That’s hilarious. I thought you meant in Land Academy. I’m like, “Who are they?” I’m like trying to guess. I’m like, “Huh, I wonder who that would be.” I’m not a hospital wing person. But you know what I want? I want to feed every kid that can’t afford breakfast kind of person. That’s my hospital wing.

Steven Butala:
We’re pretty close to that.

Jill DeWit:
Mm-hmm.

Steven Butala:
Anyway. In Land Academy, when Jill and I started Land Academy, I never knew it was going to this far. What I really wanted to do is create a group of people that are well educated about how to buy and sell land by our way so that they can become our partners and we can all work together. And that’s stage three.

Steven Butala:
The first stage was just, I don’t know. Just to see if it works. See if anybody was interested in it. And yeah, it worked. It was actually an overnight success once we launched it. To getting it up to launch took a year. So that was stage one. Stage two was, “Wow, people are actually listening to the show. They’re interested in what we have to talk about.” I enjoy doing it.

Jill DeWit:
[crosstalk 00:08:48]

Steven Butala:
We decided early on, it’s like, “Yeah. I mean, I don’t hate doing this.”

Jill DeWit:
They’re making money. They started to do deals and it’s working.

Steven Butala:
Right.

Jill DeWit:
Mm-hmm.

Steven Butala:
So we’re finally shifting into third gear now because of deal funding.

Jill DeWit:
We spent five years in gear two, I want to just say that too.

Steven Butala:
I agree.

Jill DeWit:
It was five almost six years in second gear. So if you’re getting new, whatever you’re doing? These don’t go fast necessarily. Or I would argue, the more time you spend on them, the better it’s going to be.

Steven Butala:
The better stage four, or Jill’s hospital wing’s going to be. So we’re shifting into third gear, and here’s specifically why. Because of deal funding. And I don’t mean our deal funding at all. I don’t mean us funding deals. What I mean is we have a lot of people in our group now funding other peoples’ deals and they’re all forming partnerships together. So we’re full blown shifting this into third gear because it’s taken on a life of its own now. We do this show, we do a bunch of stuff to support it. And half entertain, half educate, I guess. But the fact is that there’s story after story after story like today. Of people making hundreds of thousands of dollars. Joining partnerships on both sides. Both the money side and then the deals side. So I’m proud is my point.

Jill DeWit:
Yeah.

Steven Butala:
I think this is going to air the day before Thanksgiving. It is for sure.

Jill DeWit:
This is on Tuesday.

Steven Butala:
Oh, it is? Okay. Two days.

Jill DeWit:
Yes, yeah. What were you going to ask?

Steven Butala:
So I love stage three. Stage three, it’s a huge reward. I’m just in reward happiness mode with Land Academy. Stage four is probably many years from now, where people are donating money now. Or whatever works. So we’re doing something big, really big together like buying farmland all together as an investment or some …

Jill DeWit:
I like it. Third gear you’re still … I don’t know. You’re 55, 65 miles. Not age. Miles an hour. I’m thinking in a car. That’s the speed that you’re going let’s just say. And now you’re on the highway.

Steven Butala:
And higher RMPs.

Jill DeWit:
Yeah.

Steven Butala:
Fourth gear, that’s the top gear.

Jill DeWit:
Yeah.

Steven Butala:
Hopefully, your RMPs go down.

Jill DeWit:
I like that. That’s a great way of saying it. Happy you could join us today. Five days a week you can find us here. Including on Thanksgiving on the Land Academy Show.

Steven Butala:
Tomorrow the episode on the House Academy Show is called The Failed Anatomy of a spec Home Deal. You are not alone in your real estate ambition. Do spec homes make sense?

Jill DeWit:
This topic, because came of me, standing looking as an observer of a spec home going up. And just scratching my head going, “This is nuts.”

Steven Butala:
I agree.

Jill DeWit:
And we’ll talk all about it. Talk about taking a gamble.

Steven Butala:
Couldn’t agree more.

Jill DeWit:
It’s more than I’m willing to do.

Steven Butala:
Great word. Great word.

Jill DeWit:
Thank you. Thank you for tuning in. By the way, if you’re a Land Academy member be sure you join us on Discord.

Steven Butala:
We are Steve and Jill. Information.

Jill DeWit:
And inspiration.

Steven Butala:
To buy undervalued property.

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