The Truth About Being Your Own Boss (CFFL 509)

Transcript:

Jack Butala:                         Jack Butala with Jill DeWit.

Jill DeWit:                            Hey there.

Jack Butala:                         Welcome to our show today. In this episode, Jill and I talk about the truth about being your own boss. It's all peaches and cream.

Jill DeWit:                            It's easy.

Jack Butala:                         This is going to be the shortest show ever. 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:                            This is more of a share that I had to put in here. Trevor shares a little update. "We are going to be looking at a 900-acre property that has been for sale for two years. This is in a county north of where I am mailing, but it came from a phone call from a pretty desperate broker. Here's a lesson also. He didn't even have pictures or video of a million-dollar listing."

Jack Butala:                         Oh my gosh.

Jill DeWit:                            Trevor, this is all ... I'm verbatim here. I freaking love it. "Anyway, they are asking $1,200 per acre, but we will offer $1,000 an acre. It has full county road frontage with both power and co-op water access with unlimited taps allowed along the road. Sold comps at $300 an acre or less is nearly $2,300 an acre." That's fantastic. "It is a great rectangular shape that will split up nicely."

Jack Butala:                         Nice.

Jill DeWit:                            "We may have to build some fences, but everything else is great."

Jack Butala:                         Cheap.

Jill DeWit:                            I know.

Jack Butala:                         Fences are cheap.

Jill DeWit:                            "It is a very basic mesquite flat county ..."

Jack Butala:                         Country.

Jill DeWit:                            "... Country, so we will have to offer it for less per acre. Either way, it may be a good way to make nearly a million dollars in a couple years with a capital outlay of less than $250,000. If they take our offer, I will send pictures of maps of it."

Jack Butala:                         Outstanding.

Jill DeWit:                            I haven't seen ... There wasn't a follow-up yet, but I was just like, A, wow. B, thank you so much for sharing those details. C, it really does happen.

Jack Butala:                         Oh, yeah. In less than a year, probably, because if I know Trevor ... Trevor comes from a long line of people who have been doing this for generations.

Jill DeWit:                            Right.

Jack Butala:                         If you get the green light on all that from all the people you know, it's money in the bank. I love square properties with road access and all the utilities. Jeez.

Jill DeWit:                            I know.

Jack Butala:                         You can't ask for anything else.

Jill DeWit:                            It's just amazing. What a deal.

Jack Butala:                         Congratulations.

Jill DeWit:                            I think it's ... Isn't that funny? We're talking about real estate agents and brokers. Dude, this broker didn't even ... I feel bad for the person who owns the property. They had this broker working on it and he's not even taking ... There's no pictures and nothing. I mean, talk about his heart wasn't in it.

Jack Butala:                         How can that be?

Jill DeWit:                            I don't know. Why would you not follow up? If it were my property, I'd be saying, "Excuse me, Mr. Broker, do you expect to sell this this way, with nothing?"

Jack Butala:                         I would actually just provide the ... Yeah, you're right. I'd let the broker go the first week.