Bending Acquisition Criteria (JJ 636)
Transcript:
Jack Butala: Jack and Jill here.
Jill DeWit: Hello.
Jack Butala: Welcome to the Jack Jill Show. Entertaining real estate investment advice. I'm Jack Butala.
Jill DeWit: And I'm Jill DeWit broadcasting from sunny Southern California.
Jack Butala: Today, Jill and I talk about bending your acquisition criteria. Is it okay or not?
Jill DeWit: You know, Jack, I have to ... I'm sorry. I have to interject here because ... how long have we known each other?
Jack Butala: It's been awhile.
Jill DeWit: How do you think I feel about rules and bending rules?
Jack Butala: This is what happens before every single show. Jill says, "No, bending acquisition criteria. What the hell is that?"
Jill DeWit: That's exactly what I said and then you gave me your definition and I go, "That's not what I thought."
Jack Butala: Exactly. Every ... before every show, the exact same thing happens.
Jill DeWit: Yep.
Jack Butala: I don't know if you should not know at all and we should just laugh about it-
Jill DeWit: I know.
Jack Butala: Throughout the whole show-
Jill DeWit: That's right.
Jack Butala: Or if we should just talk about it intensely and provide real advice. Not that.
Jill DeWit: Heaven forbid, rehearse. I don't know what that means.
Jack Butala: Rules are meant to be bent.
Jill DeWit: That's how ... by Jill. If anyone got a doctorate in anything like that, it's me.
Jack Butala: We're going to get into why I think bending your acquisition criteria's actually pretty healthy. It's ironic, but I think it really is-
Jill DeWit: It is ironic.
Jack Butala: But, before we do that, let's take a question posted by one of our members on the jackjill.com online community. It's free.
Jill DeWit: Okay. Jordan M. asks, "Greetings. My name is Jordan and I am in Texas. I want to learn more about wholesaling and land as an additional revenue stream to fund our other real estate ventures. Currently, I build residential and multi-family properties, own a single family .... own single family duplexes, multi-family and commercial buildings. I also have experience syndicating real estate partnerships. What ... I think this could be a good resource for more money. What should I read to get started? Glad to be here."
Jack Butala: The reason I chose this of all the ... again the questions that are put in front of me every week is because Jordan, you are the exact candidate for the Land Academy House Academy Group.
You've started in real estate. It sounds like it's either your career ... full-time career or you're seriously dabbling in it. Whichever one and you're serious about it. We have more people come to us and say, "I've been buying and selling real estate or invest ... real estate investor in some capacity for 25 years and I didn't realize how easy it is to buy cheap property until I met you guys."
Jill DeWit: Exactly.
Jack Butala: That's what it sounds like is happen here and, welcome.
Jill DeWit: What should I read to get started? Every thread you can get your hands on in this forum that you're reading in this environment.