Profile of People Who Get It (LA 810)

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 sunny southern California.

Steven Butala:                   Today, Jill and I talk about the profile of people who get it, and as always, it's not just about real estate.

Jill DeWit:                            By the way, yesterday I talked about my COH. So for anyone who didn't catch the show yesterday, I've took COH as my personal components of hotness, and so it could be a ... Steven meant it as a component of hotness for buying land, and I took it as-

Steven Butala:                   For real estate markets.

Jill DeWit:                            For purposes of the business. And I took it to a teenage level-

Steven Butala:                   Which is good.

Jill DeWit:                            Which component of hotness, which is-

Steven Butala:                   It just always happens.

Jill DeWit:                            You know. It's the component of hotness. Let's just be honest with it. So anyway, one very important component of hotness is people who get it.

Steven Butala:                   Oh.

Jill DeWit:                            That's why.

Steven Butala:                   Nice tie-in.

Jill DeWit:                            That's why I'm tying this back in. Because yeah, if you don't get it ... On my component of hotness, that's like a whopping zero.

Steven Butala:                   Oh, on your personal component of hotness.

Jill DeWit:                            If you don't get it, if you walk around not getting life ...

Steven Butala:                   Oh, yeah. Yeah.

Jill DeWit:                            Or you're an extreme narcissist, or something like that ...

Steven Butala:                   Wow. Big words today.

Jill DeWit:                            I am. Well, so-

Steven Butala:                   I agree with you on all this.

Jill DeWit:                            That, actually will take off some of the other good components. Say you're attractive. Oh no, that just, that ... I'm sorry. It works against you. So I had to bring that up. If you don't get it.

Steven Butala:                   We can talk about component of hotness, and we can tie it right into this topic, actually.

Jill DeWit:                            That's my new COH.

Steven Butala:                   Before we do that, let's take a question posted by one of our members on the landinvestors.com online community. It's free.

Jill DeWit:                            [Milan 00:01:38]. We have a couple questions with Milan this week. Milan asks, "Let's say you have $100,000, and you can make only $25,000 of that in acquisitions. That gives you ... " Oh, "You can only make $25,000 acquisitions." Okay.

Steven Butala:                   Four acquisitions.

Jill DeWit:                            So, that gives you four shots. Why is this funny? These are very, just like thinking out there. I love it.

Steven Butala:                   This is good stuff.

Jill DeWit:                            Yeah. "What type of land do you buy, what are the comps, and what do you sell it for? Is it the classic, "Buy for $25,000, comps at $100,000, sell for $50,000, or would you do different numbers? Steve? Jill? Others?"