Jack Thursday – All the Decisions You Make Add Up (LA 1855)

Transcript:

Steven Jack Butala:
Steve and Jill here.

Jill DeWit:
Hello.

Steven Jack 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 cheese curds. I first-

Steven Jack Butala:
Burned Wisconsin.

Jill DeWit:
I first learned about cheese curds in Seattle. Now why Seattle has good cheese curds? I don’t know, maybe a lot of people from cheese areas like Wisconsin have relocated to Seattle. If you know The 5 Point Cafe, that’s the first time I experienced them. And then I have to say here in Wisconsin, now I found some even better cheese curds. So sorry, Seattle. They rock here.

Steven Jack Butala:
Maybe it’s because the weather’s the same.

Jill DeWit:
That’s it. Wisconsin people can move to Seattle because they can handle it. That actually makes sense.

Steven Jack Butala:
This is a personal note. I don’t know why you need to deep fried cheese. It’s already good enough.

Jill DeWit:
It’s really good. I know.

Steven Jack Butala:
It really kind of wrecks the taste.

Jill DeWit:
I know, but you know what? And then it’s breaded and there’s maybe beer in there a little bit? I don’t know. There’s just-

Steven Jack Butala:
They’re not bad.

Jill DeWit:
They’re super good. And you know what’s great? When you get good ones, you know they’re good ones. They’re not all tater tot shaped. You know they’re real. And so thank you. I love them.

Steven Jack Butala:
Today’s topic, all the decisions you make, add up. 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. Don’t forget to subscribe on the Land Academy YouTube channel and comment on the shows you like. It actually helps us create content that’s similar to what you like.

Jill DeWit:
Cool. Will wrote, “Has anyone funded a deal as a JV? Anyone that has…” Excuse me. “… funded a deal as a joint venture, were you listed on the deed? And is anyone willing to share a sample or template of the agreement you used?” I will.

Steven Jack Butala:
It sounds out too well.

Jill DeWit:
Yeah. It’s on landfunding.com. And it’s on landinvestors.com. So if you want to go and see my sweet little EC two page agreement… And that’s just a starting place. That’s kind of what we use. I mean, it really is what we use. But if you want to change it up like, “Can we do this? Can we do that? Can I change this? Can I change that? I’m going to put in some money and then I’m going to do this. And then you put in money, you do that. And here’s the percentages now because of this.” It’s all negotiable.

Steven Jack Butala:
A contract is an agreement between two people and the content of that agreement and the provisions and all of that stuff is what you both decide on and sign and date. That’s it. If you’ve ever taken a law class or basic law class, they’ll teach you that. Or if you’ve ever spoken with a good attorney, usually with the drink in hand they’ll tell you that. Why-

Jill DeWit:
Is that what makes him a good attorney?

Steven Jack Butala:
Yes. In my mind.

Jill DeWit:
Okay.

Steven Jack Butala:
What gets confusing about this, especially in real estate is because we are so brainwashed by the National Association of Realtors that… And the state departments of real estate where we are, whatever state you’re doing deals in. And real estate agents have no idea. They just do stuff that the person in the cubicle that sits next to them does-

Jill DeWit:
Told them to do.

Steven Jack Butala:
… or their broker. So you end up that way with a two inch thick document that allows you, air quotes, to buy a piece of real estate. And none of that’s necessary. And so contracts for joint ventures… People who do joint ventures like us are a little bit more intelligent about it. And so we know that a one or two page contract that spells out what’s going to happen if it goes south or what’s going to happen if it goes great. That’s all you really need and if something does go south, who’s going to handle it? You can put all that in your two pages.

Jill DeWit:
And whose name is on the deed and how that’s going to go.

Steven Jack Butala:
And maybe 50-50 works for you. Maybe 60-40 does, Maybe 70-30. I don’t know. So there’s no… We’ve been brainwashed to think that there’s some form-

Jill DeWit:
You have to use it.

Steven Jack Butala:
… when you do a… There’s no form. You can create your own form. I have a peeve about this.

Jill DeWit:
I hate paperwork.

Steven Jack Butala:
Real estate agent… I do too.

Jill DeWit:
I hate it just for people to just do it.

Steven Jack Butala:
Real estate agents have no idea that you can buy a piece of real estate without that damn contract. It’s really frustrating. Or they have no idea, and especially not because we sign everything online, that you can take a red pen and cross out 90% of it and still get a real estate deal done. They really believe that you have to do it. And their brokers are telling them they have to sign here and here and here and here. Or you can’t do the deal. That’s just not the case.

Jill DeWit:
Isn’t that funny? I got one sent back just today, as a matter of fact, because there’s one initial missed. Big whoop.

Steven Jack Butala:
Oh, but geez. An initial?

Jill DeWit:
An initial on a page. In the middle of the page was a missed of initial. Everything else was signed. I’m like, “Really?” It was fine. We just did a quick little DocuSign. But the fact that the agent had to go to my transaction corner, who then had to come to me, it’s like, this is really… It’s funny.

Steven Jack Butala:
Boy, you really just got to swallow that.

Jill DeWit:
Oh yeah. We just laughed about it.

Steven Jack Butala:
If you get philosophical about it, it’ll crush your soul.

Jill DeWit:
Oh yeah. Let it go.

Steven Jack Butala:
Today’s topic is, well, it’s Jack Thursday. And I’m going to talk about quite simply how all the decisions you make add up. This is why you’re listening. You have choices. It might not feel like it if you’re younger. You have a lot of choices. You can choose to join Land Academy or not join. You can choose to go to college or not choose. Those are big decisions. You can choice to have children or not have children. But if you’ve made a choice to join a group like Land Academy and then you don’t send a mailer out, that’s a choice. And it’s a pretty small choice in life, but it’s pretty much going to end one way.

Jill DeWit:
That’s true. You’re right. This is good stuff.

Steven Jack Butala:
All these tiny little… If you choose to rob a liquor store when you’re 16, they don’t… And then the choices that you make after that may not be, but maybe you might be attempting to make up for that for a long time. They all add up. So the choices that Jill and I have made for what’s better or for worse, have us sitting next to each other in a 24 foot RV in the middle of Madison, Wisconsin happy.

Jill DeWit:
Talking about cheese curds and beer.

Steven Jack Butala:
And happy. Yeah. I mean I’m happy. I hope you are.

Jill DeWit:
I am.

Steven Jack Butala:
I wasn’t always this way.

Jill DeWit:
Where did this come from? I’m just curious. This is such a big picture. Awesome.

Steven Jack Butala:
It’s Jack Thursday.

Jill DeWit:
I know, but it’s not data related, so that’s why I’m confused. You have me all confused. I don’t know who this person is.

Steven Jack Butala:
I really think that we all need to, and you and I included, all the time need to step back and say, “I’m making a bunch of decisions today.” Including, “Should I have a Coke or a Diet Coke?” Because there’s results that happen with that.

Jill DeWit:
That’s fair.

Steven Jack Butala:
And they all add up and we spend a lot of time, I know I do, undoing a bunch of decisions that I made that I wasn’t thinking about at the time and they add up. 152 Cokes are going to add up in not a good way.

Jill DeWit:
So interesting when you think about it. Even though you’re like, say you have a boss. You have a job and a boss, and your boss is telling you what to do. You have a decision. No, seriously. To do it or not. And how well you’re going to do it and get up and go to work. And every little thing it’s really up to you how hard you want to work at it.

Steven Jack Butala:
I’m a huge fan of playing out of bounds. I always have been. But if you go too far out of bounds with a lot of things, with anything, it’s not good. And so you have to decide where you are in that line.
I distinctly remember a conversation really early on when we started Land Academy where this woman that joined said that she’s a rule follower. And I never really heard anyone say that out loud. I knew there were people that did follow rules. But so she wanted a lot of direction and of course we gave it to her. But she said over and over, I am a rule follower. What’s the rule on this? And it made me start to think how much… And Jill’s middle name is “how do I get out of this?”

Jill DeWit:
My rules don’t apply to me.

Steven Jack Butala:
Yeah. Rules don’t apply.

Jill DeWit:
Exempt. My middle name-

Steven Jack Butala:
Exempt.

Jill DeWit:
… is exempt.

Steven Jack Butala:
Right. Just all I’m saying is, and this episode does not need to drag out, every tiny little decision you’re making is going to add up to something where you want. And I think that if you first decide what do you want it to add up to and then work it backwards to making out all those decisions that lead up to that, you’re going to be a very happy and satisfied person. Rewarded.

Jill DeWit:
That’s the key. I was just thinking that. If you have this goal up here and all your decisions are going to that goal… Or even not just a goal, your mantra. Or just like, “I’m going to be a good person.” And so all my decisions are going to be, “Ugh. Yeah. But I’m a good person. This is the right thing to do.” Then you won’t. That’s how you do it. I love it. 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 is Jill Friday and she’s going to talk about pricing like a seven year old.

Jill DeWit:
Yep.

Steven Jack Butala:
You are not alone in your real estate ambition.

Jill DeWit:
Exactly. Looking forward to that.

Steven Jack Butala:
Me too.

Jill DeWit:
It’s good. It’s going to be good. Yeah. “Jill Friday, talk about pricing? Oh, I got to tune into that one.”

Steven Jack Butala:
Yeah, I got…

Jill DeWit:
That’s what everybody’s saying now.

Steven Jack Butala:
I want to see this too.

Jill DeWit:
Wait, wait. We just had the big picture, philosophical Jack. Now we have Jill talking about pricing. Oh, but like a seven year old pricing. This is going to be good. Yeah, it’ll be fun.
Hey, thank you for tuning in. And again, we hope you find our content valuable and we really do appreciate your support. So if you haven’t already, zip on over to our YouTube channel. Hit the subscribe button and please comment on the shows you love. We are Jack and Jill. Sorry. Want to do again?

Steven Jack Butala:
Yeah.

Jill DeWit:
Okay. We are Jack and Jill.

Steven Jack Butala:
We are Jack and Jill.
Information…

Jill DeWit:
… and inspiration…

Steven Jack Butala:
… to buy undervalued property.

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