REI With Your Full Time Job
Jack Butala: REI With Your Full Time Job. Every Single month we give away a property for free. It's super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening.
Jack Butala: Jack Butala with Jill DeWit.
Jill DeWit: Hi.
Jack Butala: Welcome to our show. In this episode, Jack and I talk about REI with your full time job, real estate investment, but you have a regular full time job. What do you do? Great show today Jill. Before we get into it, let's take a question posted by one of our members on successplant.com, our free online community.
Jill DeWit: I have to say something. Do you know you just said Jack and I?
Jack Butala: Oh my gosh, no.
Jill DeWit: I think that's funny.
Jack Butala: What am I thinking?
Jill DeWit: I don't know.
Jack Butala: What's going on in my head?
Jill DeWit: It's early.
Jack Butala: Yeah.
Jill DeWit: It's okay.
Jack Butala: We record these shows at like 6:00 in the morning.
Jill DeWit: It's the middle of the week, it's a Wednesday, it's early, so you're good. It's all good. Sorry, it just made me giggle.
Jack Butala: Jack and I?
Jill DeWit: Jack and I.
Jack Butala: Should I start over?
Jill DeWit: No, oh gosh no, keep it.
Jack Butala: Oh my God. Don't do it again.
Jill DeWit: You cannot. No, don't start again.
Jack Butala: Oh my God, dad, don't do it again. Please stop.
Jill DeWit: Shucks. No, yeah, everybody's laughing right now. You just woke everybody, everybody's up. It's okay. It's cute. Okay. The question is, Jared asked, "I just found a county. Low population, vacation dense destination in a state, good access, but it has high prices on land and only two properties are for sale on the tax sale list. Is this one I should run from?
Jack Butala: This is a good question.
Jill DeWit: Yep.
Jack Butala: It's a great question, and the answer is absolutely not. I think you've probably found gold, maybe silver, maybe not gold, but silver. This comes up a lot, but it doesn't really come up in this, packaged like this. It comes up like this, does the package work, or your program work, send a lot of offers out in the mail for other product types. Does it work for houses, does it work for apartments, does it work for skyscrapers, does it work in a city, do you have to be in a rural location? Here's the answer, because this is what he's really asking, yeah. It worked great, but don't offer $500. Make sure you offer intelligent amounts of money where you can double your money. A lot of our members use it.
I personally, Jill and I used this program on residential houses and we just needed to make $100,000, I mean $10,000 on each property, so we might spend $150,000 to buy property where we know we're going to make $10,000, and we know who's going to buy it, we have a buyer that, we're putting a program together that talks all about that. What Jared's asking is, hey this isn't the exact same model that you guys talk about where you offer $100 an acre for property that's west of the Mississippi and you see what comes back. No, it takes a little bit more planning, a little bit more analysis and correctly making offers that are undervalued, nonetheless undervalue, and it works like a charm. I got many, I have a specific member in Florida that does this for what he calls canal lots. They're $300,000 lots and he offers $100,000. He does a lot of deals.
Jill DeWit: Mm-hmm (affirmative). Exactly.
Jack Butala: Did that answer it Jill?
Jill DeWit: Totally.
Jack Butala: All right.
Jill DeWit: Thank you.
Jack Butala: Can we move on?
Jill DeWit: Yes.
Jack Butala: Can I call you Jack for the rest of the show?
Jill DeWit: No. You know what? Hey welcome, I got to share this about my world. Oh my goodness. The time that we sit and record these shows is t...