Does this Property Make me Look Fat? (LA 1064 - 681)

Transcript:

Jack Butala:                         Jack and Jill here.

Jill DeWit:                            Hi.

Jack Butala:                         Welcome to the Jack Jill show, entertaining real estate investment talk. I'm jack Butala.

Jill DeWit:                            I am Jill DeWit, broadcasting back now in sunny southern California.

Jack Butala:                         Today Jill and I talk about, does this property make me look fat?

Jill DeWit:                            This is going to be good. I have a lot to say about this.

Jack Butala:                         It's so nice to be back from Arizona.

Jill DeWit:                            Yeah, how many emails did you get?

Jack Butala:                         Oh my goodness. We semi-intentionally missed recording a few shows last week. I wanted to see what happened.

Jill DeWit:                            With intent. You know, that's one of the things we tell the kids when they're going to get in trouble or not. Did they screw up on accident, or was there intent there? Ours was kind of not really accidental. There was an intent. We were busy, man.

Jack Butala:                         I'm happy to say, I guess we were missed.

Jill DeWit:                            That was kind of cool. It was a good little test.

Jack Butala:                         I got all kinds of emails like, "Are you guys going off the air? What the heck happened? What's wrong with your podcast?"

Jill DeWit:                            That's not the way to do it too, but I'm sure people do that. You know it's funny, because I go look at new podcast shows or I think they're new podcast shows, and I find some, I go looking, I'm like, "Wow, look at this," and then I look at the dates and I realize, oh, they're last one was six months ago.

Jack Butala:                         It's over.

Jill DeWit:                            I'm like, "Well, that didn't work."

Jack Butala:                         The truth is, Jill knows, we were in Scottsdale buying and selling houses for our new program called House Academy, and man, did it work.

Jill DeWit:                            That was so fun, super fun.

Jack Butala:                         It's really a topic for a whole episode, but can you give us the highlights here? Did you think we would buy and sell a house that fast?

Jill DeWit:                            Yeah.

Jack Butala:                         You did?

Jill DeWit:                            Yeah. This is one of those things, Jack, you and I are so different, which is great, part of why we're so good together. When it comes to stuff like this, you're a little bit of a glass half empty and I'm a glass half full. I'm like, "Oh, no worries. I know we got this. I know it's priced right. I know who we are. I know how valuable the asset is. We got this."

Jack Butala:                         I did a bunch of analysis on how three specific zip codes perform in a little section of central Scottsdale, Arizona, sent everybody who did not have a mortgage, their mortgage is paid off, a cash offer for a certain amount. I priced it and we ended up buying three houses.

Jill DeWit:                            It's awesome.

Jack Butala:                         The first one sold. The other two are not sold because we don't want to put them on the market. We've built the buyer list of flippers, renovators, and we're just working it through and it's working out great so far. I'm surprised. I mean, I really am. Maybe it's our experience level too, I don't know.

Jill DeWit:                            Can I share a tip? I had no idea this was going to work.

Jack Butala:                         Yeah.

Jill DeWit:                            You and I, I don't know whose idea it was, "Hey, let's have an open house," like right?

Jack Butala:                         It was my idea.

Jill DeWit:                            Okay.