Jack Thursday – 2022 Land Budgeting and Goals Made Simple (LA 1671)
Jack Thursday – 2022 Land Budgeting and Goals Made Simple (LA 1671)
Transcript:
Steven Jack Butala:
Steve and Jill here.
Jill K DeWit:
Hello.
Steven Jack Butala:
Welcome to the Land Academy Show, entertaining land investment talk. I’m Steven Jack Butala.
Jill K DeWit:
And I’m Jill DeWit, broadcasting from the Valley of the Sun.
Steven Jack Butala:
Today’s Jack Thursday. And I’m going to talk about 2022 land budgeting and goals made simple.
Jill K DeWit:
Did you see my nail polish? Because I put it right around here. I figure this is the perfect opportunity to touch up my nails, and I don’t know where I left it. Sorry.
Steven Jack Butala:
It really is simple, and it’s not as boring as you think.
Jill K DeWit:
Oh, good. Oh, good.
Steven Jack Butala:
But it’s necessary.
Jill K DeWit:
Yeah.
Steven Jack Butala:
What were you just saying on… We were recording another show, and you said, “People just do this stuff, they put flooring in the garage.”
Jill K DeWit:
Oh, because it’s on sale.
Steven Jack Butala:
There’s no real plan.
Jill K DeWit:
Oh, yeah. No, I’m like, “This is the paint. We should buy extra of this, or extra of that.” Hold on, everyone.
Steven Jack Butala:
Yeah. Just buy what you’re going to use.
Jill K DeWit:
Mm-hmm (affirmative).
Steven Jack Butala:
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, comment on the shows you like.
Jill K DeWit:
Before I forget, I have to say this little… I didn’t want to interrupt you, because you launched into that, which is beautiful. But I wanted to say this one little thing, because you’ll love this, why don’t you let the stores be your storage area? That’s it.
Steven Jack Butala:
Well, I think if you do all the math, and I’m sure there’s been studies. If you only buy what you’re going to use, even if it’s more expensive, you end up saving a ton of money.
Jill K DeWit:
Mm-hmm (affirmative). Love it. Okay. So Jessica wrote, “Happy New Year, everyone. I’m currently thinking about my goals for 2022. I would love to hear what kinds of goals you set, like your deal count, profit for deal, et cetera. And then what specific goals you hope to hit?” That’s-
Steven Jack Butala:
Excellent.
Jill K DeWit:
… awesome. What did everybody say?
Steven Jack Butala:
Well-
Jill K DeWit:
Was it all over the place?
Steven Jack Butala:
Sure. No, it wasn’t all over the place.
Jill K DeWit:
Oh.
Steven Jack Butala:
There was some really good… [inaudible 00:01:55] got involved. There’s some really good, really direct answers to this. And I’m going to try to be real direct today too about it.
Jill K DeWit:
That’s cool.
Steven Jack Butala:
Because I think people get flustered about this, and I don’t think that’s necessary at all. It really just takes finding some quiet time, a pad of paper and a pen, and giving yourself about a half hour to an hour, and you’re going to find out how your 2022 is going to go. I really believe it’s that simple. So I’ll tell you how I do it.
Steven Jack Butala:
Today’s Jack Thursday, 2022 land budgeting and goals made simple. This is why you’re listening. For me, it starts with a plan. So a lot of you have decided to join Land Academy because you want to buy and sell land. That’s the beginning of your plan. I don’t budget anything unless I have a basic plan first.
Steven Jack Butala:
And for me, and this is like a truth time deal, I’ll take a blank spreadsheet, a blank Excel sheet, and I’ll start taking notes. “I want to buy and sell land because I know it’s profitable. I’m going to find a group, get some education, get a bunch of free education. And then if I think it’s a good idea, maybe try to buy and sell some property myself. Realize that it works.” So this is my me jotting down my thoughts, kind of stream of consciousness thoughts in a spreadsheet to see if it works or if it’s something viable or if it costs too much or it just basically feels right. Once I have my plan established, like “Yeah, I do want to buy and sell land,” or, “Yeah, I do want to buy three convenience stores this year,” for whatever reason and it fits my personality type, then I put a budget together.
Steven Jack Butala:
And then the third stage is executing all this. But the budget, and this is really what I think Jessica’s asking, by, I want to do 10 deals. Maybe it’s as simple as, “Here’s my budget. I want to make $600,000 this year. Well, how do I do that?” Well, it’s not that hard to buy for 30 and sell for 90. “So $60,000 per deal. To do 10 deals, and I want to do one a month. So I’m going to make $60,000 a deal times 10, one a month, give myself a 60 day plus or minus variance. Well, how do I do that?” And now, this is where the budgeting starts where, “How many mailers do I have to send, according to everybody in Land Academy, because I’m a member in Land Academy on Discord. I can ask everybody how they back into this thing.”
Steven Jack Butala:
So you start with what you want, you start with this plan, and then you back into it, and the budget starts to fill itself in. “Well, I know that it costs this much for education. I know that it costs this much to close a deal, 1500 to $2,000 a transaction. I know I need this much time to do it, because I asked everybody on Discord and I watched all the Land Academy, the programs, and I attend the Thursday call. And I’ve been trolling Discord to find a money partner. I don’t need any money to do this because I’m going to get a money partner to help me.”
Steven Jack Butala:
So you put all these pieces of this puzzle together, and you budget it out. It doesn’t even have to be a big process budget like… If you look up budgeting, there are people who have PhDs in budgeting. I’m probably close to that myself. I get into it. You don’t need that. You need to know, “Hey, I need to make $600,000 this year. I need to do a deal a month. I have my money partner over here. I have to send out this much mail. I hate answering the phone, so I have to find a partner like Jill to do that with me. That might take longer than I think.”
Steven Jack Butala:
And just put all this stuff together in a calendar and give yourself a certain amount of time. “I need a month to get educated and start asking questions in Discord. I need two weeks to listen to all the Land Academy material. I need to ice out a certain amount of time every Thursday, or if I don’t have time to do it on Thursday, when the actual Thursday call happens, I need to listen to it on Saturday, because it’s on the Land Investor’s site.” So there are all these pieces to this puzzle. There aren’t that many, I don’t think. Put them all together, schedule it all out, and execute.
Jill K DeWit:
Here’s what my takeaway is-
Steven Jack Butala:
She’s going to throw me under the bus here.
Jill K DeWit:
If you have a PhD in budgeting, what do I have? Am I at the associates level? Am I at the bachelor level?
Steven Jack Butala:
I’ve seen you use Excel a couple of times in my entire life.
Jill K DeWit:
A couple times? That’s hilarious.
Steven Jack Butala:
Maybe six.
Jill K DeWit:
I use it every day.
Steven Jack Butala:
I know you do, but not next to me.
Jill K DeWit:
Oh, no.
Steven Jack Butala:
I’ve seen you use it.
Jill K DeWit:
Because I don’t sit next to you.
Steven Jack Butala:
I’ve seen you use it a couple of times. Here, Hear me out, and how you use it is probably closer to how most people use it, and it’s fine. It’s just not how-
Jill K DeWit:
For party planning.
Steven Jack Butala:
Yeah.
Jill K DeWit:
And household planning.
Steven Jack Butala:
It’s not how I use it.
Jill K DeWit:
And renovations and keeping track of my bills and things like that. So I do the same thing, just for different stuff.
Steven Jack Butala:
Like planning a Christmas party.
Jill K DeWit:
And planning a party. Exactly. That was awesome. Thank you very much. Is this kind of short?
Steven Jack Butala:
Is it short?
Jill K DeWit:
It is a little short.
Steven Jack Butala:
Well, do you have any questions? Does it make sense? You know it’s short because it’s not-
Jill K DeWit:
Fluffy?
Steven Jack Butala:
I don’t want you to get overwhelmed with this, okay? So you have to take this from A to B to C. I see many, many people, I used to be this person, and I still am, depending on the topic, you just get overwhelmed right from the beginning.
Jill K DeWit:
Right.
Steven Jack Butala:
And it’s, “There’s too much stuff to do. I don’t know where to start. I’m not going to do any of it.”
Jill K DeWit:
Well, and what if your goal, I’ve seen this, people are like, “My goal in ’22 is for my wife to quit her job.” Talk about a big goal. We got to work. We got to be able… Reel it in a little bit. Like, okay. She makes $50,000 a year. “So I need to come up with $50,000 a year in additional income to offset her job.” That’s how this is going to work. So let’s back it in like that. This is how I look at it.
Steven Jack Butala:
Yeah.
Jill K DeWit:
So, “Now, $50,000 a year. Okay, what’s that a month? I got to think about that. What’s that a deal? How does that look? How much do I have to spend and make the money? So really, I got to do even more.” You got to think about all this stuff. So it’s really 50. “I want to make 50.” You know where I’m going with that.
Steven Jack Butala:
Yeah.
Jill K DeWit:
And you work it all the way back down to time. That’s for people too. I think where people get hung up is they started with a big goal like, “I want my wife to quit her job.” Okay, well, that’s just huge when you first think about it, and/or, “Now I got to ice out time, because I’m already working 60 hours a week or 45 or 50,” whatever it is at your day job. “Maybe they took away my commute, but they sure filled those times with other things I could be doing. I got to really plan out the time.”
Steven Jack Butala:
Right.
Jill K DeWit:
And then I think people get overwhelmed, and then they give up.
Steven Jack Butala:
That’s what I think.
Jill K DeWit:
And so-
Steven Jack Butala:
I also think that, and this is really key, nobody wants to do stuff they don’t want to do.
Jill K DeWit:
That’s for sure.
Steven Jack Butala:
When you’re younger, you’re used to that. You’re used to your parents telling you what to do, your teachers, all of it. When you get older, it’s very, very rare that you’re going to have, in a land business or in any business, the two, the personalities that Jill and I have all rolled up into one person. I’ve seen it. I can be that person. Jill can be that person. But I don’t want to. I honestly don’t want to answer the phone. Jill does. Jill doesn’t want to do the data I do, and it just seems to work out. So if 50% of your professional life, you’re doing something you don’t want to do, I would really argue you’re not going to last in it.
Jill K DeWit:
That’s true.
Steven Jack Butala:
Instead of jumping in, maybe in that schedule that I put together with the $600,000 goal thing and the 10 deals a year, maybe you spend January and February finding the person to do the stuff that you don’t want to do and your revamp your goal down from 600,000 to 400,000, because you need to spend three months finding the right person, starting on Discord.
Jill K DeWit:
That’s fair. That’s true. It’s amazing now that we have this community and you can do it.
Steven Jack Butala:
Yeah. Yeah.
Jill K DeWit:
Once upon a time, I would’ve said, “Suck it up, because you have to do it.” Because there’s nobody else to do it.
Steven Jack Butala:
Me too. In fact, I know we did. When we started this show-
Jill K DeWit:
Yeah, it was-
Steven Jack Butala:
I know we did.
Jill K DeWit:
Yeah. It was, “Suck it up.”
Steven Jack Butala:
Mm-hmm (affirmative).
Jill K DeWit:
“You’re going to have to do all these pieces until you figure it out and you wrap your head around what you’re good at, what you’re not good at. And then you got to fill in someone to take those jobs off you, and train them, hire them, train them, and then wrap your head around taking on the responsibility of your income and their income.”
Steven Jack Butala:
Yeah.
Jill K DeWit:
So now, you can do it with a partner in Land Academy.
Steven Jack Butala:
[crosstalk 00:10:20].
Jill K DeWit:
It’s too easy to find someone in Land Academy that says-
Steven Jack Butala:
Yeah.
Jill K DeWit:
… “I’m a data nut. I suck at selling.”
Steven Jack Butala:
Yeah.
Jill K DeWit:
And you’d be like, “Done.” There’s your partner.
Steven Jack Butala:
This is the truth. This is how fortunes are made.
Jill K DeWit:
It’s true.
Steven Jack Butala:
Fortunes are… Everybody sees how fortunes are made at the end. “Oh, well, Steve Jobs…” No. It was terrible. He probably had 25 years of just pain and grunt work and awfulness. So that’s what has to happen for anything real to happen.
Jill K DeWit:
Sometimes.
Steven Jack Butala:
Jill and I are very lucky. We were raised, albeit on different coasts, in an environment where we were taught to not to… “Yeah, you’re going to do stuff you don’t want to do.”
Jill K DeWit:
“Put your head down and go to work.”
Steven Jack Butala:
Yeah. “I don’t care how you feel about it-
Jill K DeWit:
Yeah. “If your boss-
Steven Jack Butala:
… “Just get it done.”
Jill K DeWit:
My saying was like, “My job description is really what my boss tells me to do.”
Steven Jack Butala:
Mm-hmm (affirmative).
Jill K DeWit:
“If I’m supposed to go get coffee or pick up dry cleaning or something, that’s kind of my job.”
Steven Jack Butala:
So obviously, I don’t think that’s appropriate at this day and age. It probably wasn’t even appropriate when Jill was forced to do it. But I do think it’s appropriate for your boss to say, “Learn Excel.”
Jill K DeWit:
“I need this report.”
Steven Jack Butala:
“Learn Excel by… I’ve given you two weeks to learn Excel.”
Jill K DeWit:
Mm-hmm (affirmative).
Steven Jack Butala:
So you’re your own boss here. You got to give yourself those deadlines.
Jill K DeWit:
It’s true.
Steven Jack Butala:
And you got to put it in the calendar and make sure it happens. And you’re probably, chances are, going to have to give up something in your life to get this other stuff done.
Jill K DeWit:
Mm-hmm (affirmative).
Steven Jack Butala:
And you’re going to have to decide what you’re giving up is worth the tunnel that you’re going through to get out the other side.
Jill K DeWit:
Mm-hmm (affirmative). It might be Dexter. It might be Walking Dead, some things like that.
Steven Jack Butala:
Yeah, it might TV shows.
Jill K DeWit:
Might be TV shows, something. It’s okay.
Steven Jack Butala:
It might be home time, family time. If the kids are real little, they won’t remember anything anyway, trust me.
Jill K DeWit:
Mm-hmm (affirmative).
Steven Jack Butala:
I push that right to the end.
Jill K DeWit:
Yeah. Might be time with your partner. That’s a whole nother show. Let’s just stop right there. Happy you could join us today. Five days a week, you can find us here on the Land Academy show.
Steven Jack Butala:
Tomorrow is Jill Friday, and she’s going to talk about waking up tomorrow as a land investor. You are not alone in your real estate ambition.
Jill K DeWit:
This comes up. People, they think that… Well, there’s clearly no school for this. I mean, there is kind of, obviously. We have Land Academy. But there really isn’t a degree program or something like that. You can wake up tomorrow and just say, “This is what I’m doing. This is it.” And dig in. And I want to talk about that.
Steven Jack Butala:
Yeah. Okay.
Jill K DeWit:
It’s not as hard as you think. And thank you for tuning in. We hope you find our content valuable, and we appreciate support. If you haven’t already, please do check out our YouTube channel, hit the subscribe button.
Steven Jack Butala:
We are Steve and Jill.
Jill K DeWit:
We are Steve and Jill.
Steven Jack Butala:
Information.
Jill K DeWit:
Inspiration.
Steven Jack Butala:
To buy undervalued property.
___________________________________________________________________________________________________________________________
If you enjoyed the podcast, please review it in Apple Podcasts . Reviews are incredibly important for rankings on Apple Podcasts. My staff and I read each and every one.
If you have any questions or comments, please feel free to email me directly at steven@BuWit.com.
The BuWit Family of Companies include:
I would like to think it’s entertaining and informative and in the end profitable.
And finally, don’t forget to subscribe to the show on Apple Podcasts.
