What to Learn and What to Outsource
Transcript:
Jack Butala: Jack and Jill here.
Jill DeWit: Hello.
Jack Butala: Welcome to the Jack and Jill Show. I'm Jack Butala.
Jill DeWit: And I'm Jill DeWit, broadcasting this week from sunny Southern California, where every homeowner is a multimillion-
Jack Butala: What?
Jill DeWit: I've noticed that.
Jack Butala: Have you noticed this?
Jill DeWit: I have noticed this.
Jack Butala: How can this possibly be?
Jill DeWit: It's a little bit not normal.
Jack Butala: It's not normal for me.
Jill DeWit: Right, that's true.
Jack Butala: Imagine a situation where you buy a house, and then you just live in the house, go about your business, and then 10, 20 years later you have $4 million worth of equity.
Jill DeWit: It's crazy.
Jack Butala: Jill and I ... go ahead.
Jill DeWit: I was going to say we talked to a guy the other day. Remember? We were looking at renting a house right on the water, and you said 35,000. Like I said, "No. They paid 55,000," or something ridiculous.
Jack Butala: They paid $55,000 for a property that's probably worth six to $8 million more.
Jill DeWit: Exactly.
Jack Butala: This is in the late '60s, early '70s.
Jill DeWit: And by the way, they've done nothing to it.
Jack Butala: No, I know. He cupped his lips and whispered to Jill, "Oh by the way, there's no garbage disposal or dishwater."
Jill DeWit: Exactly.
Jack Butala: And I said, "Why isn't there?" He said, "Well, the owners don't want to change the property at all."
Jill DeWit: It's hilarious. It is so darn funny. Oceanfront.
Jack Butala: Oceanfront, oceanfront. None of this ocean view business. This is oceanfront.
Jill DeWit: It is hilarious. I love it.
Jack Butala: I just think it's a beautiful concept. Every time I walk around some of the small towns in Southern California, I think like, "This is what America, all over America should be like, where you earn 11 to 15% on your home every year and that's why you're a homeowner." Unfortunately, that's just not the case for most of the country.
Jill DeWit: That's the way it's supposed to go. You're right. That's the way it's supposed to be.
Jack Butala: Well, I'll tell you. This crowd, they act like it too. I told Jill several times in this neighborhood, I don't know if that guy's homeless or retired. He looks the same. He smells the same.
Jill DeWit: Exactly. Yeah, that's hilarious. I love it.
Jack Butala: Ask any real estate investment.
Jill DeWit: I hope it's entertaining.
Jack Butala: This is a little bit of a new format for us today.
Jill DeWit: It is.
Jack Butala: Today, Jill and I talk about what to learn and what to outsource. It's the meat of the show. Oh, it's not the meat of the show, because we haven't gotten the new script down yet.
Jill DeWit: Yeah, that's okay.
Jack Butala: Before we get to the meat of the show, let's take a question posted by one of our members on the JackJill.com online community. It's free.
Jill DeWit: Okay.