2019 Planning During Down-Time (LA 881)
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, podcasting from gorgeous southern California.
Steven Butala: Today, Jill and I talk about 2019 planning during this holiday season downturn. This is one of my favorite times of the year when it comes to business.
Jill DeWit: Is it?
Steven Butala: I love the planning part.
Jill DeWit: Yes, you do.
Steven Butala: I love to take a look at what happened the year before and translating to what's gonna happen next year, you know, adding an uptick and all lines of business. Maybe removing some lines of business that just didn't work out, which always happens. Every single year, that happens. And then a big challenge for me is not to have too many startups the next year.
Jill DeWit: Mm-hmm (affirmative).
Steven Butala: Which, I'm getting, with age, a little bit better at. I think. I don't know. I'll have to ask our staff. At least, most of them revolve around real estate and Land Academy and House Academy now. They're not some wild offshoot about buying oil wells or something.
Jill DeWit: Right.
Steven Butala: What do you do during this time? Just totally blow the whole thing off and have fun?
Jill DeWit: I wish. That'd be great. No, 'cause as you put these things in place, then I follow. I'm here doing my part. You know? I mean ... we have different tasks in our companies. And as you lead, and you come up with these new companies and some companies, and there's pieces of it that fall on me. So I'm just kind of standing by waiting to see what's coming. I guess that's it.
Steven Butala: We're in a situation now where it's just like, I feel like we're cheating, because we've got a whole marketing staff. We've got people who are capturing and processing video. I mean, this is the first time this has ever happened-
Jill DeWit: It's true.
Steven Butala: To me where we've just got a lot of people, really good people, in the right place producing some cool stuff for us.
Jill DeWit: Yes.
Steven Butala: It makes it a lot easier to buy and sell real estate when you have a marketing team.
Jill DeWit: Very true.
Steven Butala: Before we get into it, let's take a question posted by one of our members on thelandinvestors.com online community. It's free.
Jill DeWit: Joe asks, I think there are a fair number of sellers out there would gladly sell their property for a low price or just give the property to you for a promise of future cashflow. Some of them lack the sophistication or time to set up a terms deal. For whatever reason, it would just be easier for them to do it, to let someone else do it. Does anyone ever work with sellers to sell or resell their property on terms, service the debt, and split the proceeds with the seller? If so, what would the contract look like, and what kind of split did you do? Who held the deed?
Steven Butala: This is a great question. Every month or so it comes up because we get new members. Like, it seems like we get a flood of new members every month.
Jill DeWit: We do.
Steven Butala: Usually at the end of the month. So, and this always comes up. And here's what Joe's really asking, or what he's really saying in my opinion. I don't have a bunch of dough to outlay to buy land,