Why Time Off is Important
Transcript:
Jack Butala: Jack and Jill here.
Jill DeWit: Good day.
Jack Butala: Welcome to the Jack and Jill show, entertaining real estate investment advice. I'm Jack Butala.
Jill DeWit: And I'm Jill DeWit broadcasting. We are back down here in sunny southern California.
Jack Butala: Today, Jill and I talk about why time off is so important. This is Jill's kind of ...
Jill DeWit: Do we really have to explain this?
Jack Butala: Here's what happens in our lives. I just wanna work all the time, and Jill just doesn't, and it works out great. I'm not saying you're lazy. You work just as hard as I do, but you really-
Jill DeWit: I don't think that's true.
Jack Butala: ... and rightfully so push us to slow down and take time off.
Jill DeWit: Thank you.
Jack Butala: And I appreciate it, and it's needed. And I honestly can't wait to hear what you're gonna say.
Jill DeWit: Well, it is needed, and so I like this, and I do have a lot to say about this.
Jack Butala: Before we get into it, though, let's take a question posted by one of our members of the jackjill.com online community. It's free.
Jill DeWit: Chuck asks, "Using Jack's suggestion in the free ebook, I posted on Craigslist looking for sellers. I received a reply from an owner of six acres of land in a lakeside community in Texas. He needs to sell to make payroll for his employees, and the fuse may be too short since there's an unknown factor of how much a creek, which is on the property, actually affects usability."
Jack Butala: So, it's seasonal, I think. You know.
Jill DeWit: Right. Might flood or something.
Jack Butala: It swells, yeah.
Jill DeWit: "The owner states that only impacts four of the six acres." That's kind of a lot. Oh my gosh. It only affects four of the six acres. That's more than half. Oh my gosh. "But I can't know that to be accurate until someone gets eyes on the property. I've done quite a lot of research and data analysis and feel that I have a pretty good idea of the value there. Assuming that he still wants to sell, how should I best approach this deal? It's my first land deal, although I have wholesaled several houses, and I'm very familiar with how things work. Thank you."
Jack Butala: Cool, Chuck. What's the number one attribute that makes property swell in price, skyrocket in price? Proximity to water. So, I understand that this person might be new, and I actually know for a fact they're not in our group, which is good. If the prices are right, I would run to the bank and close this deal.
Jill DeWit: What do you do with the four acres you can't use?
Jack Butala: You know how we all buy property on the side of the mountain and sell it to a mountain climber?
Jill DeWit: Mm-hmm (affirmative).
Jack Butala: That's this.
Jill DeWit: Right.
Jack Butala: People love boats. Let 'em swell.
Jill DeWit: Hopefully it's a mound in the middle or something.
Jack Butala: Maybe people will want a floating house.
Jill DeWit: Maybe.
Jack Butala: Like in "When Harry Met Sally".
Jill DeWit: Reminds me of that Oregon one that I had one just like this.
Jack Butala: Or "Sleepless...