Long Term Planning (CFFL 572)

Transcript: 

Jack Butala :                      Jack Butala with Jill Dewit.

Jill Dewit :                          Hello.

Jack Butala :                      Welcome to the show today. In this episode Jill and I talk about long term planning and why it's so important. Or maybe it's not for you. We don't know yet. 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.

Jill Dewit :                          I'm trying to imagine going through life without any kind of planning, when you said maybe it's not for you. Could you imagine?

Jack Butala :                      No.

Jill Dewit :                          If you're like, yeah I'm going to do this now? Yeah, I'm going to do that now? I mean, how, I don't ...

Jack Butala :                      It sounds nice.

Jill Dewit :                          What?

Jack Butala :                      It sounds kind of nice.

Jill Dewit :                          What if you wake up and go I don't want to be married anymore or I don't like these kids any more, because there's no planning anymore?

Jack Butala :                      That sounds awesome.

Jill Dewit :                          Yeah. Jack.

Jack Butala :                      You asked the question.

Jill Dewit :                          I did. I didn't think ...

Jack Butala :                      I'm watching this show on Netflix called Life Below Zero and it's about these people that chucked it all and went up to Alaska and they're just, they're literally living off the land. Like they, there's no money involved in their life at all and they just go fishing, they shoot Elk and stuff and you know ...

Jill Dewit :                          Jack there's long term planning there. I watch the show with you. They have to plan with you.

Jack Butala :                      I know but I ...

Jill Dewit :                          They have to plan in October, because they're not going to make it 'till April with food and fire wood if they don't long term plan.

Jack Butala :                      I know. I wasn't saying that's not the planning.

Jill Dewit :                          Okay.

Jack Butala :                      It's just for a few minutes I have a little fantasy about doing, just living off the land. That's all.

Jill Dewit :                          Oh, you want living off the land with an assistant? That's your way of making it work. No, I know.

Jack Butala :                      Living off the land with an army.

Jill Dewit :                          Yeah. That's what you want. You just want to walk in and have everything done. I know you. That's really what you want.

Jack Butala :                      You know what? I can't even talk my way out of that. Jill you're absolutely right.

Jill Dewit :                          This is going to be, so we all know the reason that we did this show is because Jack's, long term planning is very near and dear to Jack's heart.

Jack Butala :                      That's true. Actually, this is my show and not Jill's

Jill Dewit :                          So, that is why we're talking this. Totally. All right. So back to the question. So, Steven asked, I was just contacted by a seller with an offer sent in June asking if I would still honor it. I said that I would and I would start my due diligence. Should I ask him to send the original signed purchase agreement or should I send a new one?

Jack Butala :                      This is ...

Jill Dewit :                          Oh, this is good.

Jack Butala :                      We're preparing ourselves for Jill's rant on purchase agreements and how they're not necessary.

Jill Dewit :                          No. It's okay. Or should I send a new one with a new deadline closing date? After reading the recent post about not using a notary and sending a deed wit...