Jack Thursday - Why is Land Investing Like Pulling Teeth (LA 1751)

Transcript:

Steven Jack Butala:

Jack and Jill here.

Jill K DeWit:

Hi.

Steven Jack Butala:

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

Jill K DeWit:

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

Steven Jack Butala:

Today's Jack Thursday and I'm going to talk about, "Why is land investing like pulling teeth?" This is a direct quote from Herbert Graham, a career path, now advanced member who we had pleasure of meeting with one time, because there was a brief live event in Phoenix that we were invited to. And we didn't host it but we were invited to it. And recently he said he was having trouble with an escrow agent and he said, "Why is getting a deal closed, like pulling teeth?" Which inspired me to talk about, why is this whole thing like pulling teeth? Because it can be.

Jill K DeWit:

Sometimes.

Steven Jack Butala:

Before we get into it, let's take a question posted by one of our members on the landinvestors.com online community. It's free. Sometimes Jill says little things like sometimes and reminds me of my childhood.

Jill K DeWit:

Oh, I'm sorry.

Steven Jack Butala:

And don't forget to subscribe on the Land Academy YouTube channel and comment on this show as you like.

Jill K DeWit:

What does that mean?

Steven Jack Butala:

It's just funny. Sometimes you just, it's funny. That's how I know I love you, like some of this stuff to do that's quirky.

Jill K DeWit:

Doesn't sound like it, sound like-

Steven Jack Butala:

No, it's a compliment.

Jill K DeWit:

All right. Now I know how you traumatize, it sounds like I'm traumatizing you on reminding me of your childhood and I don't want that.

Steven Jack Butala:

No, it's all positive. It's like quite the opposite. It's all positive.

Jill K DeWit:

Matthew wrote, this is more of a success of my mindset shift. I came in hoping I can make this work. That's changed. Here's why last month I brought in $25,000 of profit from a flip. Now I'm in the process of purchasing another two parcels. I already have a funder, one parcels, larger, one smaller, but buy one for 117,000, one realtor put the total combined value at 280,000, wait, buy one parcels larger one small buy for 117,000. Sounds like buying both for that. I'm thinking, one realtor put the total combined value of the two at 280,000 and another realtor put the total combining value at 325,000. We're doubling, we're tripling our number. Hello.

Steven Jack Butala:

It's way more than that-

Jill K DeWit:

I'd be happy with either. The mindset shift is incredible now, that I've personally seen incredibly profitable properties come in, I received my usual two week paycheck and I'm very appreciative of it, but I wasn't as excited as I used to be.

Jill K DeWit:

And not even as close as to as much as I'm making in land. Now I know I can do this business. Oh, I see. You know, I just talked to somebody about this recently too, that the shift in adding a zero and not being afraid to go for these bigger deals. And then once you do a couple of them you're like, huh, and the numbers you throw around are like, let's see what's that? 80, $90,000. Sure. Where do you want me to wire the money when, before you'd be like, holy, oh my gosh. I mean even $8,000. That was a lot. And then you jump ahead and ahead and ahead.

Steven Jack Butala:

The takeaway that I took from this is that, we all can have personal anecdotes or experiences like this, where one month you look at something and say, there's no way I can do that. Not because I don't think I've had talent or not. I just don't want to put the energy into it. I know I can do it, but I don't want to figure it out. And for whatever reason a month goes by and it's like, I'm doing this and it's not as hard as I thought and I'm actually going to make a business out of it. So we all have things like that. For some kids it's like,