When Will This Recession End (LA 1238)
Transcript:
Steven Butala:
Steve and Jill here.
Jill DeWit:
Hello.
Steven Butala:
Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.
Jill DeWit:
And I'm Jill Dewit, broadcasting from sunny Southern California.
Steven Butala:
Today jill and I talk about when will this recession end?
Jill DeWit:
I'm really liking the sweat pants, slippers, I'm being sarcastic, lifestyle.
Steven Butala:
Keep going.
Jill DeWit:
It was fun for one day. You're like one... You know what it is? It's like one cold day once in a while. It's raining and you have a book and you... I sit in my chair by the window and I drank my tea. Do I want 40 of those? No, I don't want 40 of those. I'm ready. I'm done. I've been done. I know you have too.
Steven Butala:
Yeah. During the last recession, it was about 2008 or nine or 10 somewhere along those lines and a good friend of mine who is a great friend of mine now, and a client, we sell a lot of houses to him. Our kids were in preschool together. That's how I met him. And we had this exact conversation. He said, "I don't want this recession to end too fast. I want it to end, but I don't want it to end too fast."
Steven Butala:
And by the way, I was on the other side of the conversation, ready to pound the guy because it took us to our knees. I mean it beat us down to our knees real estate wise and money wise. And it was all because I didn't have stuff structured correctly and we were buying selling property through One channel and the channel failed. It's not that buying and selling the property failed.
Steven Butala:
By the way, buying and selling real estate never is bad. It never fails. The prices change. How you finance stuff might change. It's always a great deal. It's got to go back up.
Jill DeWit:
Exactly.
Steven Butala:
So I mean I wanted it... I'm not saying this without compassion. I don't want the recession to go on forever. No one does. I don't want us to be stuck at home either. That's not part of this. This is really the real estate perspective. So my point in silly little story is I do have some compassion because fortunately for this time around, we're prepared for it. And we do shows like this because some people aren't.
Jill DeWit:
Right.
Steven Butala:
Some people aren't prepared for it. We're here to help, so this doesn't happen again or so you can make the best of this one. That's why we have multiple channels for access to capital. If you've got a great real estate deal, we would love to hear from you. And so that's going on in land investors right now.
Jill DeWit:
Mm-hmm (affirmative).
Steven Butala:
A lot. They're like, bring the deals.
Jill DeWit:
I know.
Steven Butala:
Because we have been waiting.
Jill DeWit:
I know. Yeah.
Steven Butala:
So 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.
Jill DeWit:
Rebecca wrote, what percentage are you offering on land and houses? Oh, it looks like-
Steven Butala:
I repeated the question.
Jill DeWit:
Apparently you did. I was going to say, "God, I'm sounding like a weird deja vu." Let me make up my own question.
Steven Butala:
Yeah.
Jill DeWit:
All right. Here's my question. Jill wrote, "Uh-oh."
Steven Butala:
Jill, you're a crack up.
Jill DeWit:
My mailer was a little too good. I do not have the money to complete all these deals. What do I... Can I put 20 into the Land Academy Deal Funding? Do I sprinkle them out? Is LandTank the best place? Help. Help me team. What do I do?
Steven Butala:
It's like, help me. You're my only help.
Jill DeWit:
Yeah, exactly. All right, now answer the question.
Steven Butala:
I want you to... It's like your younger self was asking your older self this question.
Jill DeWit:
Yes.
Steven Butala:
So now older self answer.
Jill DeWit:
Breathe. This is a good problem to have. Like dating. Congratulations,