Jack Thursday - You Have to Start Somewhere (LA 1477)

Transcript:

Steven Butala:

Steve and Jill here.

Jill DeWit:

Hey.

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 sunny Scottsdale, Arizona.

Steven Butala:

Today Jill and I talk about it's Jack Thursday, and you have to start somewhere. Jill and I just started doing Jack Thursday and Jill Friday, and all of our people, our Land Academy employees, love it. For some reason, it's generating a lot of questions. It's clarifying a lot of things in a human perspective, instead of talking about data and real estate and mail and stuff like that.

Jill DeWit:

Cool.

Steven Butala:

So, you got to start somewhere. And this is a culmination of me being in this business since the early '90s and all this gray hair that you see, and then Jill and I starting Land Academy in early 2015, so we've got a good six years, a full six years of experience teaching people. I'm starting to feel like we know what we're doing sort of. Are you?

Jill DeWit:

Your hair is not that gray.

Steven Butala:

That's what you got out of that?

Jill DeWit:

That's what I got out of that.

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 if you're already a member, join us on Discord, please.

Jill DeWit:

Luke wrote, "Mailed a bunch of commercial vacant properties across a couple of states, most of all of the West," most all the West, maybe not all of the West, but in the West. Got it. "Boy, a lot of them accepted. I'm dreaming of building warehouses, fast food, Dollar General, tractor supply store, gas stations, auto repair shops, storage, trailer parks, medical, et cetera." This is all commercial stuff here. "Not much of any multi-family or office space-looking ones. I would've guessed it was going to be all office space-looking commercial land taking me up on my offers." Interesting.

Jill DeWit:

"Trying to ..." I already have some things to say about this, "Trying to verify lots of the pricing on these with third-party brokers. I think I'm in over my head. Looking for the sweet, obvious ones that are just priced way wrong. I'm sure they're in here." You know, it's funny. I was just reading an article on this, with the whole 2020, how the year went, everybody working from home and now staying at home. There's still a huge office component. I am seeing and hearing office space not going away. And if anything, it might even be maybe a little bit better because those dear sweet people who still want office space now are wanting more room. The days of cramming people in one room and cubicle after cubicle after cubicle might be gone.

Steven Butala:

I read a similar article that said, "We all know what happened in 2020. And despite that, institutional landlords, specifically multifamily, are killing it. They had the best year ever."

Jill DeWit:

Yup. Yup, so there you go.

Steven Butala:

So, where's the tragedy?

Jill DeWit:

I know. I love this though. So, what Luke is talking about is, "Hey, I went into it thinking I was going to get all the office stuff. I didn't, number one. Number two, this is such a new venture for me, so I'm just looking for the low-hanging fruit," which I totally get. And I'm sure they're in there. Yeah. Grab them and go and then figure it out. He's very good at that. That's one thing about this person. Luke's nuts.

Steven Butala:

Luke Smith. If you follow-

Jill DeWit:

He's like me. He's nuts.

Steven Butala:

If you follow land investing and the people that are involved, Luke's one of our-

Jill DeWit:

Long-time members.

Steven Butala:

He's number 22 or something like that. And he's taken Land Academy to a place I didn't even know where it would go, and he's fearless. And so he obviously said sent out a massive mailer to commercial property owners,