Jack Thursday – Your Attitude is the Only Thing You Can Control (LA 1836)
Jack Thursday – Your Attitude is the Only Thing You Can Control (LA 1836)
Transcript:
Steven Jack Butala:
Steven and Jill here.
Jill K DeWit:
Hi.
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 how your attitude is really in the end the only thing that you can control. I’ve been researching-
Jill K DeWit:
I don’t know why that makes me giggle, but it kind of does.
Steven Jack Butala:
I’m now at the point in my life right now where everything’s pretty good. The money’s good. I think we have a forever house. Our last child is just about, is this week, actually, tomorrow being dropped off at college.
Jill K DeWit:
On his head.
Steven Jack Butala:
I’ve gone into what I call-
Jill K DeWit:
I would slow down and push him out.
Steven Jack Butala:
I’ve gone into what I call a health and wellness mode. I’ve been researching why people live a long time and if they do. There’s all kinds of documentaries and stuff all about this. I’ve came across this topic and wanted to talk about it on Jack Thursday.
Jill K DeWit:
And, I know this is serious and I appreciate that.
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 please don’t forget to subscribe on the Land Academy YouTube channel and comment on the shows you like. If you go to YouTube, we have all kinds of stuff on there in addition to this show.
Jill K DeWit:
Including my live broadcaster from yesterday.
Steven Jack Butala:
Yes.
Jill K DeWit:
You can check that out if you missed it. Charlie wrote, “Dropping off some wisdom here like always. Back to that paid for rental house. What’s the reason you’re parking your money in real estate versus a bank where it would be more liquid if you needed it? I know the start is a tax question, but money sitting idle in a bank account isn’t taxable either, right?”
Steven Jack Butala:
Yeah. This is in response to a long string about where to put your money in discord among our members. Have you ever driven down the street in a subdivision? Maybe you live there or it’s a subdivision close by and you see a piece of vacant land that’s totally buildable. And, there’s no for sale sign on it, and it’s never been built on. It’s been vacant for as long as you can remember, as long as you’ve lived there. Here’s what that’s all about. And, this is what a paid for rental house is all about too, which Jill and I have both of these types of investments.
Number one, that property’s going up in value way the hell more than any bank account that you’re going to have. If you had a hundred grand in the bank, it’s going to be worth $105,000 in a few years. If you have a vacant piece of property in a pretty solid area, it’s going to be worth a lot more than $105,000. That’s so number one, it’s a pure appreciation for doing nothing. Number two, you can lend against it. If you need money on a rental house or a piece of property, you can lend against it really, really easily with the stroke of a pen. It is liquid.
And, number three, and I think this is the most important point. We have three children. We own assets with each of them. Jill might owns an asset or two and it’s in joint tenants with each of our children and me too. Why? Because if I pass away that property immediately becomes, the owner is one of our children, whoever’s involved in it. Not multiple children, for a lot of reasons, which Jill and I separately-
Jill K DeWit:
That’s the last thing we want to do is-
Steven Jack Butala:
So they can’t fight.
Jill K DeWit:
Invoke a family squabble.
Steven Jack Butala:
It’s a non-taxable event. I buy piece of property, and I deed it to myself as a joint tenant with one of our kids. I pass away. The child gets that appreciating asset from my entire life, certainly their entire life. It’s a non-taxable event. It’s not subject to an estate tax, so there’s a lot of reasons to have paid for assets rather than having money in the bank.
Jill K DeWit:
Isn’t that funny too? By the way, if you’ve not encountered this, someday, you might. Where you go to buy a property, and they find out it’s all in the three brothers names, and we don’t know where one is.
Steven Jack Butala:
Yeah, man.
Jill K DeWit:
He doesn’t want to sell. That’s what stuff that we’re talking about. Don’t set up your estate like that and reek havoc on the other two. The two good ones.
Steven Jack Butala:
That’s one asset. Yeah. I really love two of the three children.
Jill K DeWit:
Yeah.
Steven Jack Butala:
I tell them that.
Jill K DeWit:
It changes all the time.
Steven Jack Butala:
And, is one asset going to go up more than the other? Yep.
Jill K DeWit:
So what?
Steven Jack Butala:
When we’re dead and gone, they can-
Jill K DeWit:
They can argue about that.
Steven Jack Butala:
… all they want. There’s nothing they can do about it.
Jill K DeWit:
Exactly.
Steven Jack Butala:
That makes me so happy.
Jill K DeWit:
That’s just the luck of the draw.
Steven Jack Butala:
Today’s Jack Thursday. Your attitude is the only thing you can control. This is why you’re listening. Back to this health and wellness phase of what I think we’re in right now, Jill and I.
Jill K DeWit:
I’m really happy that you’ve adopted that saying. Thank you.
Steven Jack Butala:
I’ve been hyper-focused in a triple type A personality way on making a fortune. And, so it’s happened past tense, and I’m not bragging. I’m just sharing this with you. And, along the way, probably have pretty dramatically neglected health and wellness, certainly health, maybe not wellness. And, so I’ve been researching, watching documentaries and reading about people who have lived a long time and what they look back on, what they regret and what they’re really positive about and happy about.
And, one of the things that many of them say consistently is you only have control about how you can respond to stuff. Every single day, all of us run across people who have a freaking personality disorder. It might be in the checkout. It might be road rage. It might be a checkout line in the grocery store or on and on and on. You have to really manage. You can’t let that stuff get to you. If you let it get to you, your blood pressure’s going to be messed up. You just can’t. To be a happy person, I think you just got to chill out and laugh about almost everything that kind of goes on.
Jill K DeWit:
My mom [inaudible 00:06:05] told me a long time. “Here are your two choices, laugh or cry. Pick one,” kind of thing. When tragedy strikes it’s really, you can laugh about it or cry about it. What are you going to do?
Steven Jack Butala:
Then I started thinking about how does that apply to Land Academy members? You have control over whether or not you send a mailer. You also have a tremendous amount of control over how you respond to that mailer, who answers the phone and whether or not you choose to turn some of this negativity that you get back on mailers into real estate deals.
Jill K DeWit:
Well, that was the point I was going to make. Frank, isn’t doing that. We’re doing some deals. You guys are talking about and discord Frank, it’s kind of funny. Anyway, frank’s okay.
Steven Jack Butala:
Frank’s a business partner of ours.
Jill K DeWit:
Yeah, Frank’s cool. But Frank, shockingly, which I’m really, really happy and surprised that he’s got the same attitude I do. “Hey, if they call mad, who cares? It’s not going to wreck my day.” Throw the offer away. Noted. Got it. Have a nice day.
Steven Jack Butala:
And, then even people that do respond positively and say your $30,000 offer doesn’t work, but 35 will work. You can have a nice fun, pleasant, real estate deal with everybody, anybody that chooses to be a seller. We used to be that to deal with the buyers a lot, but now we use utilize real estate agents to buy it. Not so much anymore there, but there’s no reason to be upset about anything.
Jill K DeWit:
You know what? It takes two to fight. It takes two to argue. If someone’s coming at you mad or something like that, if you don’t respond like that, it’s going to die down. It’s going to fizzle. That’s not going to work.
Steven Jack Butala:
That’s exactly right. You just got to laugh about it. You have to wonder what else is wrong in someone’s life when they’re just being really angry?
Jill K DeWit:
You know what’s so funny? That’s what I do. If we’re driving and someone’s really mad, and they’re cutting people off or heaven forbid, I accidentally cut somebody off. Because come on-
Steven Jack Butala:
It happens.
Jill K DeWit:
… stuff happens. So what?
Steven Jack Butala:
You make mistakes when you’re driving once in a while.
Jill K DeWit:
You know what’s so funny? If I do that, I own up. I’m like, “Sorry. That was me. I apologize. I know that was your turn to go. Not my turn to go at the stop sign. Oops, my bad. Go ahead.” And, usually that calms it right there. You smile and wave and say, “It’s on me. I’m sorry.” Because nobody got hurt kind of thing. Noted. But depending how they react, then I go that step further. If they’re like, “Okay, all right. She gets it.” We’re all cool. But if they’re like coming at me, then I really back off more. Because I’m like, it’s not worth it. I’m not going to get into it with anybody. If they’re going to really like, “Yeah.” Then I’ll be like, “Okay, I’ll be over here. I’m going to stay way back from you.”
And, you know what my mantra is in my head? I always say when these situations happen, “God, it really must suck to be that person.” Because they’re walking around mad. I just apologized, and you’re still mad. What’s going on in your world? Or if you’re always like this, that’s got to be awful.
Steven Jack Butala:
All fuzzy motivation fufu aside, you have control over sending a mailer out, complete control over it. You’re going to either do it or you’re not going to do it. Or you’re going to find somebody to do it for you, like concierge data. You have complete control over how you answer the phone, whether you do it or not and how you do it or subbing it out to Pat Live or whatever. Enjoy it.
Jill K DeWit:
Thank you. Happy you could join us today. Five days a week you can find us here on the Land Academy Show.
Steven Jack Butala:
Tomorrow’s Jill Friday, and she’s going to talk about how going up is difficult, but coming down is a joy. You are not alone in your real estate ambition.
Jill K DeWit:
You know what? I could take that saying both ways. I have to think about this now. You think I’m kidding?
Steven Jack Butala:
Uh-uh.
Jill K DeWit:
Okay.
Steven Jack Butala:
While you think about it, I’m going to say this.
Jill K DeWit:
All right.
Steven Jack Butala:
Thanks for tuning in. We hope you find our content valuable, and we appreciate your support. If you haven’t already, please check out our YouTube channel and hit the subscribe button. If you’re a member, please check us out on Discord. It’s a huge part of your membership here and benefit. We are Jack and Jill.
Jill K DeWit:
We are Jack and Jill.
Steven Jack Butala:
Information…
Jill K DeWit:
… and inspiration…
Steven Jack Butala:
… to buy undervalued property.
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