24 Month Millionaire

Transcript: 

Jack Butala:                       Jack and Jill here.

Jill DeWit:                           Howdy, there.

Jack Butala:                       Welcome to The Jack and Jill show. It's here that we provide entertaining real estate investment advice sometimes.

Jill DeWit:                           Okay, we try. Let's-

Jack Butala:                       I'm Jack Butala.

Jill DeWit:                           I'm Jill DeWit and we are broadcasting this week still from sunny Southern California.

Jack Butala:                       Today, Jill and I talk about the 24 Month Millionaire. It's our number one request. It's the number one question I personally get. "Jack, you talk about the 24 Month Millionaire. What is it? What's it all about?" Well this show I'll answer all those questions.

Jill DeWit:                           That's not the number one question I get.

Jack Butala:                       What's the number one question you get?

Jill DeWit:                           Are you guys married? No, no.

Jack Butala:                       Shut up! You?

Jill DeWit:                           Sometimes. You know, we used to get that a lot. We don't get it anymore. It's kind of funny but I used to-

Jack Butala:                       Or is it phrased like this, "Jill, if you're not married ..."

Jill DeWit:                           Oh. Remember when I had that job? There was a job years ago that I had and I talked to a lot of people and it was in an industry where there were more men than there were women. Remember, I would come home, you'd go, "Well. How many proposals did you get today?"

Jack Butala:                       Yeah, I do remember that.

Jill DeWit:                           I said, "Well. It was a slow day. I only got two."

Jack Butala:                       Right.

Jill DeWit:                           It was kind of funny, I know. So anyway, silly.

Jack Butala:                       Remember that children's book, Are You My Mother? Are You My Mother?

Jill DeWit:                           Aw, yes.

Jack Butala:                       That's what men say to Jill. Can you be my wife? Are you my wife?

Jill DeWit:                           Oh, no. No, no, no, no. Thank you.

Jack Butala:                       Before we get into today's topic, let's take a question posted by one of our members on the jackjill.com online community. It's free. Jill, if it's okay with you I'm going to read this question and if you could answer it that'd be great because it's by Jason. He's the author of Deal to Death Threat Ratio.

Jill DeWit:                           Okay, cool.

Jack Butala:                       He's all very technical and numbers-driven.

Jill DeWit:                           Okay.

Jack Butala:                       Hi, everyone. First acquisition since signing up for Silver Membership and it looks like it's going to be 120 acres at $250/acre. So $30,000 in an area where low end comps for similar acreage are $880 or like $100,000 plus.

Jill DeWit:                           Nice.

Jack Butala:                       And the parcel could be very easily subdivided into three 40 acre properties with low end comps for forties being $1,000/acre.

Jill DeWit:                           Wow.

Jack Butala:                       Long story short, this is me talking now not Jason, he's going to make $100,000 on this deal. Jason is very, very vocal in our community. The guy's got to have 160 I.Q. at least.

The seller's an 87-year-old man who must be on something amazing like probiotics because he still gets physical every year mining gold on gold claims in a few states away. Not on this property. And he told me if this deal goes well that he'll sell me an additional 320 acres he owns in an even more desirable area.

This is the kind of situation you want to find yourself in.