Finance Friday with Steven, Jill & Justin (LA 933)

Transcript:

Steven Butala:                   Steven and Jill here.

Jill DeWit:                            Hello.

Steven Butala:                   With guess Justin, actually. Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Back Jack Butala.

Jill DeWit:                            I'm Jill DeWit, broadcasting from sunny southern California.

Steven Butala:                   Today, Jill and I talk with guess Justin Sliva about the transactions that we are funding this week, like every Friday.

Jill DeWit:                            Yeah, exactly.

Justin Sliva:                         Yeah.

Steven Butala:                   Justin, in like three sentences or less, how's your week going from a funding standpoint?

Justin Sliva:                         East coast is busy. I'll say that. I mean it's been heavy in Virginia, Kentucky, Missouri, so even Florida, so the east side of the country is extremely heavy right now with people getting deals back.

Steven Butala:                   Awesome. Before we really get into it, let's take a question, posted by one of our members on the landinvestors.com online community, it's free.

Jill DeWit:                            Victor asks, "Hi, I'm from Texas, but I've been wanting to run my land business out of the country. I want to try staying Costa Rica for a month as a vacation but still, work. The two problems I think I'll run into is one, title companies want me to physically sign sometimes for larger properties. Two, sending cashier's checks for smaller companies. I guess I can give my employee access to my bank account to make cashier’s checks, but that makes me nervous. Is anyone doing this successfully?"

Jill DeWit:                            Fortunately, we have a lot of people in our role that are doing this successfully. We just had a guy, by the way, re-enroll. He was a member for a while. He left and he just came back. It was like one of those, that's usually when people leave, it's usually a life situation, and then they come back. It's awesome how many people come back. The guy in Austria.

Justin Sliva:                         Oh, wow.

Jill DeWit:                            You know.

Steven Butala:                   That's a time zone change.

Jill DeWit:                            Isn't that wild.

Steven Butala:                   The good news is that Costa Rica is the same time zone, so.

Justin Sliva:                         Yeah.

Steven Butala:                   You're all set there. And then, Jill and I run our whole business and we teach, especially in Land Academy 2.0 and now House Academy 1.0, we teach how to have your business completely run. You just oversee everything. Kind of do the approvals and get everybody else to do it. Our business is that way now. We just do the approvals and kind of oversee the deals. You should be striving for that anyway. Jill and I separate our banking, our operational banking environment so that there's one bank that has most of the money in, and then there's what we call an operational bank account that gets filled up. It's technology an imprest account. It pretty much goes to zero, then we fill it back up.

Jill DeWit:                            Just for transactions.

Steven Butala:                   The operations people have access to it. It only gets a certain amount of money. They can't really touch the real gold. The long story short, there's solutions to all this stuff. You could do specific power of attorney with somebody that you trust somewhere in the states and make that your mailing address. If you really sit down and think about it, we have a lot of members who are all over the world. Japan, Austria, Australia.

Jill DeWit:                            Europe.

Steven Butala:                   I saved this question for Friday, for you Justin because I'm wondering how many deals you get submitted from overseas people?