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The Land Academy Podcast: Land Investing from the Road Week Seven Hotel Bar Land Conversations (LA 1888)

The Land Academy Podcast: Land Investing from the Road Week Seven Hotel Bar Land Conversations (LA 1888)

WP Land Investing from the Road Week Seven Hotel Bar Land Conversations LA 1888

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Steven Jack Butala:
Jack and Jill here.

Jill K DeWit:
Hello.

Steven Jack Butala:
Welcome to the Land Academy Show, Entertaining Land Investment Talk. I’m Stephen Jack Butala.

Jill K DeWit:
And I’m Jill Dewitt, broadcasting in the valley of the sun. Can you see our boring brown background?

Steven Jack Butala:
We’re back.

Jill K DeWit:
We are home. You know what? Your dad’s right. Your dad… This is a funny thing we were talking about. Your dad, when-

Steven Jack Butala:
My dad’s right about something?

Jill K DeWit:
… Yeah. Your dad’s right about something. Your dad says to us, basically, he’s talking about where we live and the landscape, but it looks like our home too. He’s like, “You must really love the color brown.” You know what? I do.

Steven Jack Butala:
I do, too.

Jill K DeWit:
Apparently I do. Well, I have brown hair. I have brown eyes and so you like brown hair, brown eyes because you’re with me.

Steven Jack Butala:
To which I always say to my dad, “It’s better than the color white.” Meaning white snow.

Jill K DeWit:
Yeah. Totally agree.

Steven Jack Butala:
I will take great weather brown over silly cold weather snow white.

Jill K DeWit:
Because you know what comes with great weather brown? Blue skies, yellow sun.

Steven Jack Butala:
And happy people.

Jill K DeWit:
Happy people. No shovels.

Steven Jack Butala:
Today Jill and I talk about, well it’s land investing from the road. Week six.

Jill K DeWit:
Week seven. Technically, week eight.

Steven Jack Butala:
Yeah.

Jill K DeWit:
I’m going to catch y’all up here.

Steven Jack Butala:
This is actually week seven. Sorry.

Jill K DeWit:
Yeah. Well, week eight. Again, I’ll catch up because we skipped week seven.

Steven Jack Butala:
Oh, right.

Jill K DeWit:
Yeah.

Steven Jack Butala:
The name of the show is called Land Investing from the Road, Week Seven, Hotel Bar Land Conversations. It is shocking.

Jill K DeWit:
I’ll catch y’all up.

Steven Jack Butala:
When you sit down at a hotel bar and start talking about people’s experience in their own land deals.

Jill K DeWit:
Exactly. Before we get into it, we’re going to take a question posted by one of our members on our online communities. There are two. The public one is landinvestors.com. The private one is with our members and it’s on Discord. Will wrote, “Before coming to Land Academy, I made the mistake of taking a different course.” Aww.

Steven Jack Butala:
It’s not a mistake.

Jill K DeWit:
Oh no, I don’t think so. I think you get something out of everything.

Steven Jack Butala:
Me too.

Jill K DeWit:
And if anything had brought him here. It kind of warmed him up and taught him some stuff and-

Steven Jack Butala:
More education’s always better.

Jill K DeWit:
… Sure.

Steven Jack Butala:
On everything.

Jill K DeWit:
So he goes on to say, “In that course it prioritized starting in just a couple of counties and often close enough to get to for putting signs out or whatnot.” Is there more to the question?

Steven Jack Butala:
Let’s see.

Jill K DeWit:
Hold please.

Steven Jack Butala:
I’m relearning to use a teleprompter for this highfalutin equipment that we have in our home studio. We’re not used to that.

Jill K DeWit:
Great.

Steven Jack Butala:
From our two month long RV-

Jill K DeWit:
Stint.

Steven Jack Butala:
… Yeah.

Jill K DeWit:
“I’ve stayed within a single state and done some deals. However, when I think about trolling for zip codes and the red, yellow, green testing them AKA our way, it seems like I could be doing this anywhere in the country. Should I be hesitant about being in a bunch of different states?” Oh my gosh, that’s the best.

Steven Jack Butala:
This person posted this in Discord. Can you imagine what people said?

Jill K DeWit:
Oh, my God. Yeah. This is going to be… I can’t. I’m sure there was a barrage of comments.

Steven Jack Butala:
I don’t know why someone would teach limits.

Jill K DeWit:
Good point.

Steven Jack Butala:
Do you sit and tell your young children every day, this is good enough for you?

Jill K DeWit:
Yeah.

Steven Jack Butala:
You know in all this amazing things and opportunities and wonderful potential out there. You just only-

Jill K DeWit:
You need to stay close to home.

Steven Jack Butala:
… A little bit. Yeah. We only-

Jill K DeWit:
I know you were invited to MIT, but you need to stay close to home. Could you imagine it?

Steven Jack Butala:
… We all have this image of mother and her tiny little infant children and just coddling them and saying, “You can be anything you want in the whole world.”

Jill K DeWit:
Just don’t leave the yard.

Steven Jack Butala:
Why would you teach that?

Jill K DeWit:
I don’t know.

Steven Jack Butala:
The sky’s the limit, people.

Jill K DeWit:
That is hilarious.

Steven Jack Butala:
There’s 150 million pieces of real estate in this country. In this great country of ours.

Jill K DeWit:
Yes.

Steven Jack Butala:
I hope you all buy them all and resell them.

Jill K DeWit:
Well I was talking to someone the other day. I’m like, “We just got back.” I’m going to talk more about this here in the main part. But, “from two months away on the road. I’m rolling through counties going. Never heard of it. Never heard of it. Beautiful. Oh my goodness.”

Steven Jack Butala:
We’re sending mail here.

Jill K DeWit:
“This one sucks. This one’s great.” All kinds of things. Oh my goodness. Yeah. Why would you stay with just what you know? I agree. You are missing out.

Steven Jack Butala:
Yeah. I don’t know. Again, but the thing is too, with one exception, it’s Jack and Michelle Bosch. Every single other person that has a land course now.

Jill K DeWit:
Came from-

Steven Jack Butala:
Is a former member of Land Academy.

Jill K DeWit:
… It’s kind of nice.

Steven Jack Butala:
So I don’t know why they would teach that.

Jill K DeWit:
I don’t know. It’s okay.

Steven Jack Butala:
Today’s topic, Land Investing From The Road, Week Seven. Hotel bar land conversations. This is the meat of the show.

Jill K DeWit:
You know and to follow up on that, I think they don’t know how to teach it.

Steven Jack Butala:
I think you’re right.

Jill K DeWit:
That’s got to be it.

Steven Jack Butala:
I think they all suck at teaching.

Jill K DeWit:
People don’t know how to show other people how to go out and find your own areas. So anyway, back to the meat of the show. So this is land investing. Technically, it’s week eight. Why?

Steven Jack Butala:
Final week.

Jill K DeWit:
Because week seven, last week… Thank you for your patience. You got reruns because we were driving. We were literally… We got the green light to pick up our RV and head west. So we did. And in case you’re wondering, week eight? Wow. Yes, we were gone for 59 days. That’s eight weeks and three days.

Steven Jack Butala:
First thing I did when I got back.

Jill K DeWit:
I did the math. Can you tell?

Steven Jack Butala:
First thing I did when I got back is I went into Jill’s closet with a tape measure and measured her closet. And her closet is larger than the space that we lived in for 59 days.

Jill K DeWit:
Yeah. When you add up the square footage.

Steven Jack Butala:
So we lived in a closet for two months.

Jill K DeWit:
Kind of did. But you know what? It was fun.

Steven Jack Butala:
It was a blast. I would do it again tomorrow.

Jill K DeWit:
You know what’s great about-

Steven Jack Butala:
We will do it again.

Jill K DeWit:
… Well, we just talked about this with our advanced group in Land Academy and we talked about… We did two calls this week. One with our whole advanced group and then one with a career path five group that’s going on right now. And we told them the same thing. We’re eating our words a little bit. We always say that you should never leave your desk because you’re losing money. So there’s part of that that’s true. Like what Will says, you don’t need to walk out and stand and love on every property and roll around in it and bring back a soil sample or something like that. You don’t have to do that.
But if you have the opportunity and you can get out and just see some stuff, it sure changes things. And we all look at Google Earth, we look at what the easements look like. It’s different when you’re standing there and you just… It’s good to remind yourself even around your own town. It’s good to remind yourself like, “Okay, this is what my buyer sees. Got it. Now I know how to come about it and make sure that I’m showcasing this part. And probably explaining that part.” Fill in the blank. So I know today we’re going to talk about bar room stories, which is … Right? That’s what you want to talk about.

Steven Jack Butala:
Well-

Jill K DeWit:
Things we learned?

Steven Jack Butala:
… There’s a couple of things we can talk about, there’s a couple of guys we met when we were in Dallas.

Jill K DeWit:
Advantages of getting out.

Steven Jack Butala:
And they had stories about owning land and selling it and great, beautiful, fun, amazing stories. And we kind of said, “That could be your job.”

Jill K DeWit:
Even Arkansas.

Steven Jack Butala:
We weren’t selling any… Was it in Arkansas?

Jill K DeWit:
Well, Arkansas was that one guy and then we had those other people in the Dallas bar. We had several bar conversations.

Steven Jack Butala:
So yeah, there are several bar events the last 59 days.

Jill K DeWit:
Yeah. That’s awesome.

Steven Jack Butala:
But without even knowing who Jill and I are in any way.

Jill K DeWit:
True.

Steven Jack Butala:
People just say, “Yeah, I bought this piece of land, did a bunch of stuff to it and sold it for a ton more.” Not so, a couple years later. Just telling us about how great it is. And I said to every one of these people, I’m like, “I got to tell you, that’s kind of what we do and that’s how we make a living full-time.” And they all just stopped. Every single one of them. Because there’s nothing to sell.

Jill K DeWit:
It’s a dream.

Steven Jack Butala:
Yeah. There’s nothing to sell them. It’s already, they’re already in on it.

Jill K DeWit:
It’s their dream.

Steven Jack Butala:
They already know.

Jill K DeWit:
They just don’t know what to do or how to go about it.

Steven Jack Butala:
Right.

Jill K DeWit:
It’s so funny. Yeah, it’s interesting that. And I was thinking so much of everything, the decisions we make and our… Think about the decisions we make in our everyday life right now. For us, it’s where we’re going to live that we can afford, right? And what makes sense to us? What makes sense money-wise, job-wise, people-wise, all those things, right? And where we’re going to put our school, we’re going to put our kids, what schools are good for our kids to raise our children, right? And then what’s the main driving thing is we all got to think about that decides where we’re going to live. And then that rolls back to real estate, which rolls back to land.
It’s funny that it all comes back to that, but I love some of these stories. My favorite was these Arkansas people. They never even knew what we did in the end. So that’s my point is why does this keep coming up? Because that’s on people’s minds. Where am I going to live? Where I’m going to buy? Where am I going to be? People either love their town and they’re digging in, or they don’t like their town and they want to get out and they have dreamy visions of fill-in-the-blank, lake, fishing, lifestyle, better schools, whatever it is.

Steven Jack Butala:
Go ahead Jill. You’re on a roll.

Jill K DeWit:
No, it’s okay. I can wait. I was-

Steven Jack Butala:
I’ve had a lifelong goal and I continue to have this goal to not have a job. And it’s really interesting. It’s young men for whatever reason, it’s always young men who we get into these conversations with. And it has not occurred to them yet and it will, that they don’t have to have a job. They’re going to actually just buy and sell land all day long. Or really, in my case, less than an hour a day. And I think that, I don’t really get into with them, but I really believe that the root of that is bills. And the reason that you have a lot of bills if you’re a young man is because you’re in a relationship. And if you’re not in a relationship, you don’t have any bills or very few bills.

Jill K DeWit:
… Why does this always have to go there? Sounds a little, hold on a moment. Maybe you’re a woman and there’s a man dragging you down.

Steven Jack Butala:
Maybe.

Jill K DeWit:
Because he can’t hold a job.

Steven Jack Butala:
I’m sure that exists. I’m sure of it.

Jill K DeWit:
Let’s just please don’t pick on the women here because, yeah.

Steven Jack Butala:
We just don’t find many young women sitting in a bar talking about land. That’s the only reason I bring it up that way.

Jill K DeWit:
Well, that may or may not be true. I am a little odd when it comes to that. I know people look at me sideways when I start talking about stuff. They’re like, “Who are you? And how do you know all this stuff?”

Steven Jack Butala:
How can you, you’re a woman. How can you speak like that?

Jill K DeWit:
Thanks.

Steven Jack Butala:
You’re smart. I know they do look at you like a little out of this world.

Jill K DeWit:
There’s a little bit of a… They’re confused and then they get past it. Then I think they kind of forget that I’m a woman. I just am talking about this.

Steven Jack Butala:
They don’t forget.

Jill K DeWit:
Oh, it’s hilarious. Okay. Do you have any other stories you want to share about?

Steven Jack Butala:
I bring this whole entire episode up because the next time you’re sitting in a bar or anywhere, maybe in church, I don’t know. And ask people if they’ve ever had an experience buying with a piece of land and they’ll drop what they’re doing and they’ll talk to you for hours about it. And it’s almost always positive.

Jill K DeWit:
Except for last night, I’ll end on this. No, we met the cutest couple, visiting Arizona from Boston and we did mention land and they are kind of, as we’re all talking and sharing what we do, they kind of like, “What do you guys do?” And we don’t say Land Academy. We were just talking about we happen to buy and sell land. And they launched into this Florida lot that they’ve known for 13 years.

Steven Jack Butala:
Oh gosh. Personal story.

Jill K DeWit:
That they probably overpaid for, but they fell in love with it. They were in their thirties. They were young. They said all in, we’re probably going to be in for $50,000. So I hate to let it go for what it’s really probably worth, which is 10, maybe five. She even threw out those numbers. So by the way, those of you listening right now, go, “Honey, what are you talking about?” These sellers know. They know they overpaid. They’ve been paying taxes for years. She even said, “It breaks my heart, but I bet I can get five to 10 for it. And that’s probably all it’s worth.” I didn’t tell her that.

Steven Jack Butala:
So we’re going to do a show next week.

Jill K DeWit:
I want 50.

Steven Jack Butala:
Florida lots.

Jill K DeWit:
That’s a good one.

Steven Jack Butala:
Sight unseen.

Jill K DeWit:
Yeah, so we had a long chat about them and it was funny because they’re like, I’m like, “Why aren’t you just selling it and just walk away?” And it was so cutest. The guy said, “Heck yeah, I don’t care. We’ve already made money in other places in real estate.” They’ve done some flips. They’re like, “Oh, we’re already way ahead. It doesn’t really matter.” And she’s like, “But sentimental reasons I can’t let it go.” That was a hundred percent.

Steven Jack Butala:
I think it represents getting the hell out of the northeast.

Jill K DeWit:
Right. Owning that little piece down there feels a little bit good to them.

Steven Jack Butala:
Right.

Jill K DeWit:
They’ll never going to do anything. And she even said, “We’re never going to do anything with it.” But there’s a sentimental value for her, so.

Steven Jack Butala:
Don’t buy land in Florida sight unseen. That’s the name. Going to be a show next week.

Jill K DeWit:
It was really funny. But anyway, that was good. Happy you could join us today. Five days a week. You can find us here on the Land Academy Show.

Steven Jack Butala:
Tomorrow the episode on the Land Academy show is called, I’m going to explain actually, the American Land Division System.

Jill K DeWit:
And I will paint my nails.

Steven Jack Butala:
You’re not alone in your real estate ambition. Maybe Jill’s alone in your ambition tomorrow.

Jill K DeWit:
I might be. Or you might be alone in your ambition. You and three people might be alone in your mission. Hey, by the way, thank you for tuning in. And if you think that all this chatter about land investing and whatever we’re doing might be a good fit for you, check it out. Get our free ebook. Get involved in our free online community. Go to landacademy.com and you’ll find it all. And you could also reach out to my team if you have any other questions at support at landacademy.com

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

Jill K DeWit:
And inspiration.

Steven Jack Butala:
To buy undervalued property.

 

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