Better Living Through Equity Accumulation (CFFL 441)
Jack Butala: Jack Butala with Jill DeWit!
Jill DeWit: Oh, hi!
Jack Butala: What the- what are you thinking about?
Jill DeWit: I gotta tell you when I get to here. I was thinking about the title of this show sounds like a magazine: Better Living.
Jack Butala: Let's just-
Jill DeWit: But it is a magazine.
Jack Butala: Did you ever hear the phrase, "Let's stick to the script."
Jill DeWit: Okay. It's ... okay. Hi. All right, go ahead. I got a lot to say about this one.
Jack Butala: Welcome to the show today. In this episode, Jack and Jill talk about better living through equity accumulation. It's a play on better living through chemistry.
Jill DeWit: It's hilarious.
Jack Butala: Which is really a play on I'm a drug addict.
Jill DeWit: Not to be confused with Good Housekeeping and all those magazines you see on the shelf cause that's kinda what it sounds like.
Jack Butala: Before we get into it, let's look at a question posted by one of our members On a land investor's dot com online community. It's free.
Jill DeWit: Okay, this question I love. And I'm adding this because this is one of the most asked questions I get when people schedule calls with me. So here it goes. Mark asked, "I am brand new in this world. What is the fastest way to ramp up? I have 5 thousand dollars set aside for acquisitions."
Thank you, Mark. This is a good question, like I said. So Jack, take it.
Jack Butala: The biggest single mistake that I see with people who are brand new. And when they get into the real estate industry, and this is in any part. Let's say it's houses, or whatever. Not just land. Is that they pay attention to the real estate. They're looking at a deal and they're assessing the deal and they think it's about real estate. It's not. It's about data. And it's about learning to manipulate and assessors database so that it rains acquisitions on you every single morning. To the point where you have to turn some down that are smokin' deals. That is what you're supposed to be. The first six months of the business you need to be concentrating on learning how to use data.
If you don't like spreadsheets, or you don't know what [Ahskeed Unlimited 00:02:16] is, or math has never been your thing. You should, and I say this with respect, you need to find something else to do for a living. And probably a different podcast to listen to.
Jill DeWit: Or maybe a partner though, what if you have a partner with you, or somebody who can do that.
Jack Butala: Yeah, we have a ton of husband and wife teams, whatever the politically correct term is to say.
Jill DeWit: You can learn this stuff.
Jack Butala: Life partner teams that one is real good with data and one is real good with sales. I mean, that's Jill and I.
Jill DeWit: Exactly.
Jack Butala: Jill selling right there. [crosstalk 00:02:49] What I just said was go find something else to do for a living. And she's just turned it around, she's selling it. She's selling you lister.
Jill DeWit: You know, I actually am quoting one of the members from a long, long time ago that we did on a podcast. Who is in Florida, who actually said, "hey, I've watched, and we have too. I have seen ambition trump experience.
Jack Butala: Oh yeah.
Jill DeWit: And you go out and get it, and you learn it. [crosstalk 00:03:12]