Jack Thursday - Land Investor Dictionary 101 - Equity (LA 1587)

Transcript:

Steven Butala:

Steve and Jill here.

Jill DeWit:

Hello.

Steven Butala:

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

Jill DeWit:

And I'm Jill DeWit, broadcasting from the Valley of the Sun.

Steven Butala:

Today, Jill and I talk about ... Well, it's Jack Thursday, and it's Land Investor Dictionary 101. This is going to be a thing now. Every Thursday I'm going to talk about helping new people understand the terminology, the basic terminology of land investing. Today is equity.

Jill DeWit:

Did I hear you say we're making an online version of this, too?

Steven Butala:

Yeah. So, our team is actually putting together a separate landing page or website with all the terminologies that we talk about here. It's underway. It's not going to happen overnight, certainly, but when we get the dot-com I'll report it.

Jill DeWit:

Cool. I have to tell you, when I heard about this the other day, I had a few things that I wanted to throw in the dictionary.

Steven Butala:

Oh, good.

Jill DeWit:

So I have some of our own terminology that we have created-

Steven Butala:

Like Jillify it?

Jill DeWit:

Exactly. I'll tell you right now, I have Jillify that's going to go in there, BaJillian, that's going to go in there. I also told Aaron lickety-split should go in there. Lickety-split, the definition is going to be something like how fast your property should sell.

Steven Butala:

These are good things.

Jill DeWit:

Right, you like this? So when you see it, I'm going to put side-hustle in there, and a way overused term, wholesale.

Steven Butala:

Yeah. What are some good, silly terms that are silly?

Jill DeWit:

That's a bunch that I just have. Yeah, lickety-

Steven Butala:

W-2 job, things like that.

Jill DeWit:

Oh yeah.

Steven Butala:

1099 job.

Jill DeWit:

W-2 job ... How about the 4:00 AM club?

Steven Butala:

Yeah, like Land Academy stuff.

Jill DeWit:

So yeah, they're all legitimate definitions. Some we have just made up. Some words and terms we have just made up that you need to know about and we throw around. Like in my world ... I confused you the other day. In our world, you're like, "What does that mean?"

Steven Butala:

Shotgun closing.

Jill DeWit:

Oh yeah.

Steven Butala:

Like shotgun wedding, but shotgun closing.

Jill DeWit:

We could come up with some good ones that you need to know. We'll give you a chance that you could submit some, too. Like, "I heard you talking about X. What the hell is ... "

Steven Butala:

Like the haight.

Jill DeWit:

Oh, the haight.

Steven Butala:

H-A-I-G-H-T.

Jill DeWit:

Oh, I've got a whole list here.

Steven Butala:

There's a whole Land Academy of vocabulary we can cover.

Jill DeWit:

This is good. This is going to be funny.

Steven Butala:

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

Jill DeWit:

Is it first initial, Burton?

Steven Butala:

Yeah.

Jill DeWit:

Okay, E. Burton wrote, "Besides the LandTank and Facebook, what are other ways to get deals funded? I'm trying to keep my options open, and be open-minded and creative." Is there more to that? No. Okay, cool.

Steven Butala:

I'm not aware of Facebook, and LandTank honestly is coming down soon. Here's why: It's never been easier to get a deal funded, ever. I've never seen an environment in my entire career where people are throwing money out ... In a positive way, throwing money in, I should say, to get a good deal done. So if you're brand new and you're good at finding good deals, forget about the money. You're going to find so much money being dumped in your lap, it's silly.

Steven Butala:

Go to landfunding.com. It's a website we just started. There's all kinds of products for you. If it's really,