How Long Does it Take to Become a Pro (CFFL 508)

Transcript:

Jack Butala:                         Jack Butala with Jill DeWit.

Jill DeWit:                            Hi.

Jack Butala:                         Welcome to our show today. In this episode Jill and I talk about How Long Does it Take to Become a Pro? Great show today. Before we get into it, let's take a question posted by one of our members on landinvestors.com, our online community. It's free.

Jill DeWit:                            Okay. Rod asks, "I'm looking at a bulk deal purchase in [Apache 00:00:20] County. Seller wants $22,500 for eight properties totalling 150 acres or about $150 an acre. I do not have the money. Any advice appreciated. Thanks."

Jack Butala:                         Rod's a member, right Jill?

Jill DeWit:                            Mm-hmm (affirmative).

Jack Butala:                         I think yesterday's show was about this.

Jill DeWit:                            I know. I was-

Jack Butala:                         How to raise capital.

Jill DeWit:                            Exactly.

Jack Butala:                         It's real simple on a deal like this. 150 bucks an acre. If the properties have pretty good access and they're within reason, you can sell them for three hundred an acre, which I'm not sure there's a part of Apache County that you can't do this. Just go on a deal board on landinvestors.com. There's a deal board. Because you're a member you have access to it. Post it there. Then also post it on the pro level area in Land Investors as well as the non-pro level area.

Jill DeWit:                            If you post it, they will come.

Jack Butala:                         Yes. 22 thousand is a really low amount of money, small amount of money, to raise for a deal like this. I think you're gonna turn it cash in, cash out in less than 30 days. You should just consider wholesaling it or optioning it also. But whatever you do, tie it up because that's a good deal.

Jill DeWit:                            Yeah. That's really, really good.

Jack Butala:                         Anything around a hundred bucks an acre up there is good.

Jill DeWit:                            I love it up there. It is pretty.

Jack Butala:                         If I wasn't so busy ... We used to do deals with members all the time and it just ends up being a one-on-one education scenario that Jill and I ... I love doing real estate deals, but it's just not an efficient use of our time with other people. Jill and I do a lot of real estate deals, but we make 100 thousand bucks a unit. That's our rule right now. If you have a question or you want to be one the show ... Oh. I'm sorry, Jill. [crosstalk 00:02:08]

Jill DeWit:                            No. It's good. No. I'm over here. It's all good. I'll pipe in.

Jack Butala:                         Do you have a question? Okay, Robin. You want to be on the show, reach out to either one of us on landinvestors.com.

Jill DeWit:                            Thank you, Batman.

Jack Butala:                         It's more like the other Robin.

Jill DeWit:                            Oh. Who?

Jack Butala:                         Howard Stern's Robin.

Jill DeWit:                            Oh.

Jack Butala:                         Not that I think I'm Howard Stern, even want to be-

Jill DeWit:                            Oh. Him.

Jack Butala:                         ... or aspire or care about-

Jill DeWit:                            Batman and Robin.

Jack Butala:                         ... Howard Stern.

Jill DeWit:                            You know what's funny? I never really watched Howard Stern, so I'm not there.

Jack Butala:                         That's funny because it's a radio show.

Jill DeWit:                            I know.

Jack Butala:                         If you have a question ...