Real Estate Investing 2021 (LA 1501)
Transcript:
Steven Butala:
Steve and Jill here.
Jill DeWit:
Hey.
Steven Butala:
Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.
Jill DeWit:
And I'm Jill DeWit coming to you from scorching Scottsdale, Arizona.
Steven Butala:
Not yet, but coming.
Jill DeWit:
Yeah.
Steven Butala:
We'll be in a different state.
Jill DeWit:
It's probably 100 today.
Steven Butala:
We'll be in a different state for sure, when it gets real hot. Today, Jill and I talk about real estate investing in the year 2021, what's different about the past and what's probably coming in the future.
Jill DeWit:
You know what this is like, I remember when I was dating, newly dating, late teens, early twenties, and you're a girl, I'm a girl all hung up on a guy and my mom sat me down and said, "Look, don't get all hung up. You think this is it, this is the guy, this is what I'm going to do, whatever."
Steven Butala:
He loves me. But he loves me. You don't understand.
Jill DeWit:
It wasn't even that. I was too into him. But my mom's like, look, let me just share with us with you. The guy that you bring home at 18, 19, 20 is pretty different from the guy that you're serious about in 30, 31, at an age that you should be really getting serious.
Steven Butala:
Do tell. What are the differences? Because this is going to be the show now.
Jill DeWit:
All right. Want some truth time?
Steven Butala:
Yep.
Jill DeWit:
I may or may not have been in a punk rock phase at that age. I once had my hair done, came home and my mom cried. So I may or may not have dated a guy that wore more eyeliner than I did. And as you can see Steven wears zero eyeliner. So there's a little difference there.
Steven Butala:
I'm the guy she settled for.
Jill DeWit:
Where is eyeliner guy now, I don't know.
Steven Butala:
He probably looks like me, just a lot less money.
Jill DeWit:
That's true. So anyway, that's one really good example of what was then and is now, what you thought was important then and how it's the end all be all and what's really important now are different. And what's really going on in 2021 now with real estate and investing and everything, it's pretty darn awesome. And I'm glad that you're older and can handle it and you're ready for it.
Steven Butala:
I don't understand this. So is 2021 the punk rock guy or the old guy like me?
Jill DeWit:
2021 is you.
Steven Butala:
Okay.
Jill DeWit:
Yeah, yeah, no, no. That was a year that I'm not going to call out, but it was way before 2021. When I was 20.
Steven Butala:
Okay, you're actually assigning a real year. I understand.
Jill DeWit:
Yeah. Yeah.
Steven Butala:
Before we get into it, let's take a question posted by one of our members on the landinvestors.com online community. It's free. If you're already in our group, join us on Discord.
Jill DeWit:
It was in the eighties. I will be truth. So, okay. Austin wrote, "Hello. I'm writing this in response to podcast number 1479." Do you remember that one? I do.
Steven Butala:
Oh yeah. I remember every single word.
Jill DeWit:
Me too.
Steven Butala:
I remember episode 10.
Jill DeWit:
I love it. "About recovering landlords." I do remember that. "I've owned a duplex for about 10 years." This is going to be funny. "It cashflows about $600 a month, depending on expenses. If I was to sell it right now, I could gross approximately $220,000 after paying off the underlying mortgage."
Steven Butala:
I'm going to stop you there for a second.
Jill DeWit:
Yay.
Steven Butala:
You would net 220, not gross. This is, oh my God, Jack, really, do you have to call us out on every little nitpicky thing, gross, net, please.
Jill DeWit:
He does. He does.
Steven Butala:
Well for the same reason that your mother stopped you from saying, ain't your whole life. Like I ain't going to eat my broccoli.
Jill DeWit:
Okay. You're picking on us, got it.
Steven Butala:
It's net, it's net.