Why Time Off is Important

Transcript:

Jack Butala:                         Jack and Jill here.

Jill DeWit:                            Good day.

Jack Butala:                         Welcome to the Jack and Jill show, entertaining real estate investment advice. I'm Jack Butala.

Jill DeWit:                            And I'm Jill DeWit broadcasting. We are back down here in sunny southern California.

Jack Butala:                         Today, Jill and I talk about why time off is so important. This is Jill's kind of ...

Jill DeWit:                            Do we really have to explain this?

Jack Butala:                         Here's what happens in our lives. I just wanna work all the time, and Jill just doesn't, and it works out great. I'm not saying you're lazy. You work just as hard as I do, but you really-

Jill DeWit:                            I don't think that's true.

Jack Butala:                         ... and rightfully so push us to slow down and take time off.

Jill DeWit:                            Thank you.

Jack Butala:                         And I appreciate it, and it's needed. And I honestly can't wait to hear what you're gonna say.

Jill DeWit:                            Well, it is needed, and so I like this, and I do have a lot to say about this.

Jack Butala:                         Before we get into it, though, let's take a question posted by one of our members of the jackjill.com online community. It's free.

Jill DeWit:                            Chuck asks, "Using Jack's suggestion in the free ebook, I posted on Craigslist looking for sellers. I received a reply from an owner of six acres of land in a lakeside community in Texas. He needs to sell to make payroll for his employees, and the fuse may be too short since there's an unknown factor of how much a creek, which is on the property, actually affects usability."

Jack Butala:                         So, it's seasonal, I think. You know.

Jill DeWit:                            Right. Might flood or something.

Jack Butala:                         It swells, yeah.

Jill DeWit:                            "The owner states that only impacts four of the six acres." That's kind of a lot. Oh my gosh. It only affects four of the six acres. That's more than half. Oh my gosh. "But I can't know that to be accurate until someone gets eyes on the property. I've done quite a lot of research and data analysis and feel that I have a pretty good idea of the value there. Assuming that he still wants to sell, how should I best approach this deal? It's my first land deal, although I have wholesaled several houses, and I'm very familiar with how things work. Thank you."

Jack Butala:                         Cool, Chuck. What's the number one attribute that makes property swell in price, skyrocket in price? Proximity to water. So, I understand that this person might be new, and I actually know for a fact they're not in our group, which is good. If the prices are right, I would run to the bank and close this deal.

Jill DeWit:                            What do you do with the four acres you can't use?

Jack Butala:                         You know how we all buy property on the side of the mountain and sell it to a mountain climber?

Jill DeWit:                            Mm-hmm (affirmative).

Jack Butala:                         That's this.

Jill DeWit:                            Right.

Jack Butala:                         People love boats. Let 'em swell.

Jill DeWit:                            Hopefully it's a mound in the middle or something.

Jack Butala:                         Maybe people will want a floating house.

Jill DeWit:                            Maybe.

Jack Butala:                         Like in "When Harry Met Sally".

Jill DeWit:                            Reminds me of that Oregon one that I had one just like this.

Jack Butala:                         Or "Sleepless...