Land Investing from the Road Week Five Update: Locals Love to Tell Their Land Stories (LA 1873)

Transcript:

Steven Jack Butala:
Steven 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 Eureka Springs, Arkansas. I was trying to think of something special and unique about them, and I think the best thing that’s special and unique about them is the springs and the people and we’re going to get catch up. But I’ll get some more stuff here to share.

Steven Jack Butala:
We are absolutely having a blast. Eureka Springs, if you’ve never been, please put it on your list. It’s lurk around every bend and be amazed kind of place.

Jill DeWit :
Yep.

Steven Jack Butala:
Today, Jill and I talk about Land Investing from the Road. This is week five and this is our update. She and I are going to talk about how local people love to talk about their land stories.

Jill DeWit :
Oh, it’s great.

Steven Jack Butala:
Everybody’s got a land story.

Jill DeWit :
It’s so funny. We’re going to share a lot more on that. It’ll be good.

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 I hope you know by now, Jill and I instruct every quarter, a closed class called Career Path. We’re in Career Path number five right now. If you’re interested in buying and selling land as a career or you’re already doing it and you want to improve, check us out at landacademy/careerpath.

Jill DeWit :
Number five is in process and number six will be coming in January, probably like the third week of January, 2023 is my goal. Okay, so back to the question here. Brett wrote, “In Land Academy, the Land Academy program 3.0, they cover that your first transactions can be done through your personal name rather than an LLC, et cetera. The guideline for that was 10 transactions. With that being said, is there a pro or a con to doing this business through my name at first rather than an LLC? Or should I pursue creating an LLC first before conducting any sort of land investing?” I’m not sure why he is asking it when he just kind of answered it at the beginning. Okay. “But if anyone has experience with both or the input, it would be greatly appreciated. Thanks.”

Steven Jack Butala:
Okay, so here’s the thing, and here’s the reason I included this question. Either way is fine.

Jill DeWit :
Yeah.

Steven Jack Butala:
I tended to, especially the further now that we get into instructing Land Academy, Jill and I, try to make things more simple and give general and sometimes hard and fast rules just to make it simple. For the vast majority of people, doing 10 or so deals in your own name, not going through all the stuff that goes on with getting in an LLC. That works. If you already have an LLC, like many, many, many people do with a different company or something like that, you can use that one. But my real point in adding this is that, and there’s a huge theme this week in these questions. Jill and I just didn’t slap this together, this program. This Land Academy thing.

Jill DeWit :
Oh, The Land Academy thing?

Steven Jack Butala:
When she says-

Jill DeWit :
That’s hilarious. That’s so funny. Yeah. Take Land Academy with a grain of salt. Again, we only have 16,000 plus transactions. We’re not sure.

Steven Jack Butala:
Hundreds and hundreds and hundreds and hundreds of members, former members, current members, all that.

Jill DeWit :
Very successful.

Steven Jack Butala:
We didn’t just say, “You know, 10 transactions sounds good,” then go get an LLC.

Jill DeWit :
Yeah. Why not? I don’t know. I could have said two, I said 10. I could’ve said a hundred. I don’t know.

Steven Jack Butala:
Look, I really mean you want to get your feet wet and there’s other reasons that probably we should be more vocal about why we say things like 10, then go get an LLC because maybe you don’t want do this.

Jill DeWit :
Yeah. Don’t spend the money.

Steven Jack Butala:
You do a couple of deals and you’re like, “This is not what I want to do at all.” Now, you’ve got to an LLC out there and all kinds of other stuff. My point is, please just follow the program for your first few deals. Let’s say 10, and then start to make it your own or veer from that. Right now, we have a bunch of new people because of a promotion that Jill did, I guess about a month ago. There’s tons of questions in Discord about, “Yeah, Jack and Jill, they say this, but what do you think about this?” I say no.

Jill DeWit :
The underlying theme that I think you should take away from this is, one, we really do have the experience. You know it. If you’re listening, and it was funny because the other day, we just started Career Path and someone had mentioned, “I listened to hundreds of your shows.” I’m like, “We have hundreds of these shows.” Number one. We really do have the experience and that’s why you’re here.
The other underlying theme is we’re trying to save you energy and time and money. I mean, that’s why you do stuff like this. I mean, for me, I would never join a group like this as a hobby. I’m joining it for a reason. I’m not just trying to learn this because I’m killing time. I’m learning this for a reason, so I want to be aligned with people who have been there and done that and that can save me a lot of headaches and hassle and bucks. Thank you.

Steven Jack Butala:
It’s real. If I were taking this program, if I were a Land Academy member, I would do exactly what we say and then make it my own later after I passed all my tests. In fact, Jill and I just had the first Career Path, Career Path five. We just had the first module and it’s packed full of people that every single person for the first time in this Career Path, every single one, they’ve tested it. They believe in the concept. They have multiple examples with themselves or their business partner where they’ve bought for 30 and sold for 90 and they’re like, “Okay, this is it. Now I want to do this times 10.” And so, please get yourself to that point before you really start to, really honestly, before you start to question what we’re teaching because it works. Today’s topic, Land Investing from the Road. In a week five update, Jill’s going to talk about how the locals just love to crack a beer and tell their land stories. This is-

Jill DeWit :
Well, this is really your story because he was actually telling you this whole thing. I just want to comment. It’s sweet and it’s funny when you’re in a bar, like here in Eureka Springs and nobody knows you, you don’t know them, right? Other than the guy wearing his T-shirt kind of gave it away. There was a firefighter symbol on his T-shirt, so I knew there was some connection. He’s retired from that. But anyway, it’s sweet when locals start talking to us about land and giving us advice on what to buy. Again, they don’t know who we are or what we do. And I take it all in, honestly.

Steven Jack Butala:
Me too, geez. I don’t know this land market.

Jill DeWit :
I don’t want them to know. I don’t want them to have preconceived notions about what I know or what I don’t know. Because they might not give me the real truth or they might want to maybe hold something back, heaven forbidden. They think I’m going to come in and buy up the town because I don’t want them to think that too. Not that I would. I wouldn’t, but I want some

Steven Jack Butala:
Not that you wouldn’t. You come in and buy all this.

Jill DeWit :
No, not that I would. I’m sorry.

Steven Jack Butala:
Hey, Southern California just going to come into Arkansas and buy it all.

Jill DeWit :
No. Exactly. This is my new goal. No. My point is it’s fun. This is our whole take on what we’re talking about today. Update from the road right now where we are. You don’t need to get out and do this, but if you can, it’s really beneficial.

Steven Jack Butala:
It’s fun.

Jill DeWit :
That’s why you’re listening, I’m sure. What are we learning from the road? We’re learning so much local information. I can get a lot talking to brokers, right? We tell you to do that in Land Academy. We want to get to know an area, call a local broker, find out what’s really going on, where are things happening? Get your temperature check for the area. But the best thing is when you’re standing in a bar buying a beer from a retired firefighter who knows the area.

Steven Jack Butala:
Yeah, but nobody knows what we do. Unless somebody directly asks or they recognize us, we don’t tell anybody what we do. We’re just tourists. This guy told us a great story. He said, in this area, it’s unincorporated. He didn’t use that word, but it’s not in a town. It’s county property. He built, for his own personal use, a masterpiece of what he believed was going to be the house for the rest of his life. He said all in when he was done, he spent a hundred thousand bucks almost immediately got a blind offer for 250 and sold it. He’s a retired firefighter, like Jill mentioned, so he’s got a pension associated with that. That’s it. My first response was, “Well, why don’t you go do that five more times?” I said that just like that. And he said, “Why?”

Jill DeWit :
You’re so funny.

Steven Jack Butala:
He’s just done. I’ll never forget it.

Jill DeWit :
That look was like, “Yeah, what are you talking about?”

Steven Jack Butala:
He’s like, “Why would I do that again?” it’s over for me. Between his pension and that cash, he’s going to go to what? Singapore?

Jill DeWit :
Phuket, Thailand.

Steven Jack Butala:
Yeah, Phuket.

Jill DeWit :
He’s going to Phuket for the year. It’s like we’ve talked about.

Steven Jack Butala:
Then he proceeded to tell us exactly why that was a place to do it from a land standpoint and this other area is too hard to do it and here’s why.

Jill DeWit :
It was really cool.

Steven Jack Butala:
It was just an amazing amount of information, really useful information for me and entertaining as hell.

Jill DeWit :
Oh yeah. It was so darn funny. It was really, really good. I’m trying to think of some other good updates. I’ll give you another update from the road week five.

Steven Jack Butala:
Oh-oh.

Jill DeWit :
I hope and pray, please, if you’re listening, please pray with me that the next time you see me. See this background here? It’s all different.

Steven Jack Butala:
It’s bigger.

Jill DeWit :
Yes. That’s our goal. I’m going to put something on social media here again soon, but I was going to put an update. I don’t know how many days it is. It feels like 800, but it’s probably more like, I don’t know, 40. We’re probably 40, 50 days on the road. I’m not sure. But I’m done with this. I snapped today.

Steven Jack Butala:
Please be specific, Jill.

Jill DeWit :
Oh, I’ll tell you. Yes. Jill snapped a little bit this morning. I don’t go really mad, but I’m just like, now what was once cute and quaint and look how great, look how sweet this is and look how much of my stuff I can get crammed into these drawers. Now I’m like, no, not anymore. I don’t need much. Two feet would change my life. If I could have two more feet to myself, that would be great. We’re going to go shopping next week. Again, not that we haven’t gone shopping, but we’re now to the end where we’re both kind of like checkbooks are-

Steven Jack Butala:
Let me translate for Jill.

Jill DeWit :
Go ahead.

Steven Jack Butala:
She is a little emotional right now, which I understand. She’s not done with this lifestyle. She loves this lifestyle.

Jill DeWit :
Oh, I love the lifestyle.

Steven Jack Butala:
We live in 24 feet of RV and we’ve decided that it’s too small. We just got off the phone with what is it? A network of RV maintenance/dealership/storage. I love working with these guys, by the way. I won’t plug their name, but the guy’s like, “Yeah, you’re not the first person who’s come in here and said we need a bigger rig.”

Jill DeWit :
Take my Sprinter, please.

Steven Jack Butala:
Yeah. You can take it. And it’s been great.

Jill DeWit :
I’m going to walk in and throw him the keys.

Steven Jack Butala:
It’s been great and they sell well and Jill and I still live in it. It’s a lot of fun and our first rig.

Jill DeWit :
Well, you know what’s sweet about it? Let me save you some time. It’s great for a weekend. The guy just said it on the phone. It’s perfect for a weekend. Absolutely.

Steven Jack Butala:
Yeah. Or even a week.

Jill DeWit :
Yeah. But five? And going on eight?

Steven Jack Butala:
Six months is not going to work.

Jill DeWit :
Yeah.

Steven Jack Butala:
It’s just too small.

Jill DeWit :
It’s been funny, though. Happy you could join us today. Five days a week you can find us here on the Land Academy Show.

Steven Jack Butala:
Tomorrow on the Land Academy Show, we’re going to talk about the value of selling land with a homemade sign and a bunch of neighbor letters. You are not alone in your real estate ambition. Every single Career Path we have, it’s a two-way learning process. We’ve got a guy in Career Path right now. He’s like, “Oh, that’s all I ever do. I put a sign on my property and I send out a bunch of mailing letters and every single property sells with a very few exceptions.

Jill DeWit :
We’ll talk about that now that you already covered it.

Steven Jack Butala:
Yep.

Jill DeWit :
Hey, thanks for tuning in. I know we talked about it a minute ago in the question here, but check it out. Go to landacademy.com. You’ll find out all kinds of things about us, if you’re really interested in doing this. Our latest and greatest version for 2022 is it’s Land Academy 3.0. Catching Up with Land Academy. Not funny. Why do we call it catching up? Well, I just found you guys. Did I have to-

Steven Jack Butala:
Well, we’ve been here.

Jill DeWit :
Believe it or not.

Steven Jack Butala:
It’s like listening to the Beatles for the first time. There’s a new band called The Beatles.

Jill DeWit :
You’ve been doing this since the nineties. I came along in the… When did I come along? 2009. Wow. And in 2015… This is amazing it’s been this long.

Steven Jack Butala:
The last 50 days have been the hardest for Jill.

Jill DeWit :
Yeah. Whew. In 2015, we launched Land Academy so now we really can say catching up with Land Academy. But you know what? It keeps getting better and easier and more fun and the deals are awesome. Check it out and we can show you.

Steven and Jill:
We are Jack and Jill.

Steven Jack Butala:
Information…

Jill DeWit :
… and inspiration

Steven Jack Butala:
… to buy undervalued property.

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