Real Cost of Not Educating Yourself (LA 728)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Good day.

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

Jill DeWit:                            And I am Jill DeWit, broadcasting from beautiful, sunny, southern California.

Steven Butala:                   Today Jill and I talk about the real cost of not educating yourself, not just with real estate, but anything. We’ve got a bunch of funny, good examples ready.

Jill DeWit:                            This is going to be good.

Steven Butala:                   How costly is it to not teach yourself to drive? Teach yourself to drive, get in the car, get on the expressway, and get in an accident. How much does that cost?

Jill DeWit:                            Every job has training. Every single job. Just think of the new employee that just started last week. It was a pretty good, long week training. For one entity. Not even the whole big thing.

Steven Butala:                   We also have a list of things that, for whatever reason, education is not associated with. And how awful they turn out. Like raising children.

Jill DeWit:                            Say that again. What did you say? You have a working example of what …

Steven Butala:                   We have lots of examples of … You don’t get any education about raising children. You just use your own experience doing that. It often turns disastrous.

Jill DeWit:                            Repeating the same mistakes. I’m not going to do that, and guess what, you just did it. Yep.

Steven Butala:                   Before we get into that, let’s take a question posted by one of our members on Land Academy.com online community. It’s free.

Jill DeWit:                            Okay. Jeff asks: hello all, I listen to many podcasts (yes I was the one that Jack and Jill had fun with, my name Jeff Yu).

Steven Butala:                   You remember that? Jeff Yu.

Jill DeWit:                            Jeff Yu.  Thank you Jeff. I forgot about that. That was so darn funny that day. Jeff Yu. You just started it again Jeff. Now we’re going to walk around the house doing that to each other. Every time this happens too, our kids are like oh no, here they go again. Don’t make eye contact.

Steven Butala:                   Don’t encourage them.

Jill DeWit:                            Exactly. I have noticed … I’ll get back to the real question. I have noticed that a lot of people that have been in the land business for some time end up either moving into a totally different direction in real estate, or they keep the land business going and dabble in other areas of real estate.

Steven Butala:                   Yes.

Jill DeWit:                            This is really, really, really, really good.

Steven Butala:                   Just like us.

Jill DeWit:                            Example, I know Jack and Jill are now also getting into houses. Yes, they are still going strong with land. The other land investors get into apartment or house renters, et cetera. My question is why?

Steven Butala:                   I’m so qualified to answer this.

Jill DeWit:                            I have thought about this and come up with a few possible reasons such as, they want to do less buying and selling to make the same amount of money, partially. Maybe, it’s about diversification.

Steven Butala:                   Yep.

Jill DeWit:                            They feel like maybe land sales will slow down in the future. If they own other types of property that will allow them to diversify.