Million Land March Theres enough to go around
Jill DeWit:
This is Jill DeWit from Land Academy. Welcome to our Cash Flow From Land Show. In this episode, Steven and I talk about how much real estate is really out there to flip. Guess what? There really is enough to go around. Steven, this is such valuable information and I know you spent a lot of time researching this. I'm going to say thank you right now, but before we get into this let's take a question from a caller.
Jack Butala:
Sure. Hey, I'm going to read the question, okay?
Jill DeWit:
Yes.
Jack Butala:
Thinking about attending a flipper ... Oh, I'm sorry. [Ernesto 00:00:38] from Los Angeles asks, "I'm thinking about attending a flipper local seminar. Good idea or bad one? The cost is around 500 bucks for the weekend." I don't ... That's going to be [crosstalk 00:00:50].
Jill DeWit:
That's a tough question. I know. I have two things to say about this. I hope it's okay if I jump in here.
Jack Butala:
Now more than ever on this question, Jill, we need to tell the truth. We really need to just ... Let's forget about being politically correct. We're going to use rated G language, and I want you to tell me what you really think about this question, because I'm going to pull out the stops.
Jill DeWit:
I'm going to have good stuff to say and not good stuff to say.
Jack Butala:
Me too.
Jill DeWit:
My first thing would be do your homework. Make sure it's a credible organization like they've been doing this for awhile and this is not all ... I mean, this is what they do, not like they also do things for hair salons and all that stuff. I want you to make sure it's the right place. I don't think the cost is necessarily that's out of line. I think that's totally in line, and I also think that, Steven and I feel the same way about this, we read a lot, we're always learning. I'm always trying to pick up something, and, gosh, you can't go wrong with more education.
Now, I would look for red flags is my only thing to caution you. When you walk in, are they trying to get you to up your credit limit because they want to sell you something more? Are they trying to get more out of you? For me that would send a red flag, and I would probably ... At the first break, I would probably not come back. That's just little things for me. Steven, what's your thoughts?
Jack Butala:
Jill and I, we have tons and tons and tons of members. One of the first things we ask, or during the course of our relationship we ask them how they heard about us. We are very fortunate. We're very qualified to have this show and answer this question. A lot of the members, many of the members, tell us, "Well, I had an experience over here with this group," or, "I had an experience with over here at this group." It seems like you're going to answer all the rest of the questions that I had that they started. I have put together a tiny little checklist of things that really send up red flags for me.
Number one, I would like to know who's ever teaching anything, and that isn't just real estate but anything, what's their transaction history? How many deals have you done? Here's the thing. It's really easy to say, "Well, I did 15,000 deals." Well, if you go on our Land Stay website they're listed there. How much we bought them, how much we sold them for. Our transaction history is transparent. House flippers they're going to do a lot less deals because they're complicated, but I just really wonder what qualifies somebody to teach this stuff. It concerns me a lot, but you know me. I'm a glass half full kind of person.
Jill DeWit:
Mm-hmm (affirmative).
Jack Butala:
If it's being held in a hotel, huge red flag for me.
Jill DeWit:
That doesn't scare me at all because it's convenient.
Jack Butala:
I disagree. There's a lot places you can hold events. A library.
Jill DeWit:
We might be at a hotel.