Teaching Your Trade

Transcript: 

Jack Butala:                         Jack and Jill here.

Jill DeWit:                            Hi.

Jack Butala:                         Welcome to the Jack Jill Show, entertaining real-estate investment talk. I'm Jack Butala.

Jill DeWit:                            And I'm Jill DeWit, broadcasting from sunny southern California.

Jack Butala:                         Today, Jill and I talk about teaching your trade. Trust me, it's harder than it sounds.

Jill DeWit:                            It's true.

Jack Butala:                         We have a couple choices every time we do a deal. It's in the back of our heads, both of us. Should we do this deal and record it and show the whole world, or should we get it done in 30 seconds?

Jill DeWit:                            Just get it done in 30 seconds, I know.

Jack Butala:                         Put the money in the bank and move on.

Jill DeWit:                            I know.

Jack Butala:                         Maybe we'll teach out another deal. You guess which one happens more often. Before we get into it, let's take a question posted by one of our members on the Land ... Oh, that takes me back. One of our members on the JackJill.com online community. It's free.

Jill DeWit:                            That's awesome. Chuck asked, "I used Jack's suggestion of posting in Land Wanted on Craigslist. Got a call from a farmer who owns 715 acres in Arkansas near Little Rock. He's old, tired, and wants to sell 600 acres."

Jack Butala:                         That describes me. I'm old, tired, and I want to sell 600 acres.

Jill DeWit:                            Yep. "Keep the family homes, no one to leave it to. Some farms, some hunting, some vacant residential. He's willing to deal. This is something I cannot do alone, but it would be a shame to let it go. I'm posting here to see if there is someone who could work with me on this. I can simply refer it, or if there's someone who wants to have a go or may know someone, we can look into that too. I checked email notification below, so I assume that's how I'll be contacted if someone is interested." Love it.

Jack Butala:                         The producer's got a note here that about 25 people responded in our group, but go ahead.

Jill DeWit:                            Oh, cool. All right, then there's one that they added in here that Luke wrote. "This should be posted on our deal board." [crosstalk 00:01:45]

Jack Butala:                         Yes.

Jill DeWit:                            "Arkansas seems easy to split land. I would look into selling it as a bunch of smaller lots that each fit on a credit card. Not size-wise, but you can buy on a credit card."

Jack Butala:                         Luke, you're brilliant.

Jill DeWit:                            That's really true. Isn't that funny? That's the truth, that we ... When you're doing this, you do it right. You want to have it available that people can literally check out, put their land in their shopping cart, and whip out their credit card and pay for it. People love that. It still sounds crazy, I think.

Jack Butala:                         Whip it out. Whip out their credit card?

Jill DeWit:                            Whip out their credit card.

Jack Butala:                         Hey, whip it out.

Jill DeWit:                            And pay for it. Listen, silly. People do that. People go, "What?" Yes, it happens all the time. I'm not kidding.

Jack Butala:                         People who buy real estate, they want it to be a convenient transaction too. It's not just you. It's not you sitting there, "Man, I wish this was easier." They're saying the same thing.

Jill DeWit:                            Right. It's like a car. Think about it. "No, I'm really hoping to spend eight hours at the car dealer today." No one says that.