Jack Thursday - Chasing Zero (LA 1771)

Transcript:

Steve and Jill here. Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.

Jill: And I'm Jill DeWit, broadcasting from the valley of the sun.

Steve: Today is Jack Thursday and I'm going to talk about this concept I created quite some time ago that just doesn't seem to die. It's sung to some people called Chasing Zero.

Jill: I'm excited. I love it. This comes up often. I'm trying to think of, probably because of career path, it comes up in career path. You talk about it and we've done a few shows on this. This whole topic and this description intrigues people, myself included. So, I'm glad we're doing another show on this today.

Steve: Good, Jill. Before we get into it though, let's take a question posted by one of our members on the landinvestors.com online community. It's free and don't forget to subscribe to the Land Academy YouTube channel. Comment on the shows you like.

Jill: Josh wrote, "Hi all, new guy here with a quick question. Got my first mailer and I'm getting some responses. Tried to bring my wife into the operation/discussion, but she's having a hard time wrapping her head around the vacant land, then I mentioned houses. Her interest peaked quite a bit and she's been looking at the House Academy public website. Curious of your thoughts on House Academy training business model, and if any other newbies are doing both, or houses exclusively. Likewise, any thoughts as to why the House Academy podcast and overall focus from Jack and Jill has waned a bit? Market? Just making that model less appealing? Feel free to PM me if that's easier." Oh, I love it. This is good.

Steve: This is a very popular topic on discord.

Jill: Yep.

Steve: There is a lot of responses to this.

Jill: I bet.

Steve: I love buying and selling houses.

Jill: Me too.

Steve: Right now it is the most competitive I've ever seen it in my entire career.

Jill: And I don't want to play.

Steve: If you talk to any homeowner, especially in those target areas, with mid range, two, three, four hundred thousand dollars, buy it for 300, sell it for 400 without any real renovation, they'll tell you that they get two or three offers a week.

Jill: Right.

Steve: And very frustrated. They'll tell you in a very slam it down on the desk frustrated way. We don't care to run with that, so much competition. We could make it work. We've done it. When the market ... and everybody said this on discord.

Jill: Isn't that funny?

Steve: I'm reiterating it. When a market chills out a little we'll get back into it.

Jill: It seems counterintuitive, but you're like, "Wait a minute. Why would you want now to buy houses and jump in the pool when it's so hot because everything sells so fast?" But, Steven's right, because of the whole way that we operate everything is buying it right. If I'm in a bidding war with somebody else, I'm not buying it right. It's just too nutty. I like it to be slowed down a little bit, not as much competition, I can get some smoking deals, mark it up very effectively, and then sell it and move on.

Steve: Here's the truth.

Jill: But I like houses, too.

Steve: Here's the truth time. If somebody put a gun to my head and said, "You're going to buy and sell houses now." I would sit down. I would run data like I run it now with some changes, and then I would look at the pretty rural markets that are pretty solidly served by useful internet service providers so you can get a good connection, because everybody seems to be ... more and more people are working from home and moving out into outlying areas. So I could choose the right rural markets and buy and sell houses all day long.

Jill: Correct.

Steve: The fact is, and if I had a nickel for every Land Academy member that came to Jill and I and said, "Wow, thank you. I'm so much out of the house business now. It's so much easier and more profitable to buy and sell land.