Career Path–What We Learned (LA 1530) - a podcast by Steven Butala & Jill DeWit

Career Path - What We Learned (LA 1530)
Transcript:S Jack Butala:
Steve and Jill here.Jill DeWit:
Hello.S Jack 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.

S Jack Butala:Today, Jill and I talk about Career Path and what we learned. We just finished our first 10-week session for Career Path and [crosstalk 00:00:19].Jill DeWit:
The very first ever, ever group.S Jack Butala:
And with glaringly positive results. Jill's going to talk to us about it. But before she does, let's take a question posted by one of our members on the landinvestors.com online community, it's free. And if you are already a member, please join us on Discord.

Jill DeWit:This is very interesting username, Modern Asset Management. Okay,"We just funded our 20th partnership deal. Most of the sales have been on terms. I found a couple of great partners here. My goal is to build up a portfolio of seller finance contracts. My day job is running a small ..."S Jack Butala:
Financial tech.Jill DeWit:
Oh, thank you."Financial tech specializing in subprime medical loans. We work with hospitals and surgery clinics and underwrite, buy and collect the accounts. We have a robust application website and use a full loan management system. Currently there are 1400 active accounts. This takes way more than 40 hours a week to operate. So I'm not just a passive investor."Jill DeWit:"We bring real experience to the table. I'm looking to buy, originate, fund, manage, et cetera. Target here is using the machine we've built and improve our assets under management. If you have experienced a good volume of smaller deals, we might be a fit. Also, if I'm completely off base just wave, and thanks to all. So far, this has been a great community."Jill DeWit:
Interesting. So they're taking what they already know and basically knowing how to do terms, transactions and manage accounts and to do it with land. And get other people to be bird dogs, and bring them the deals and they'll fund them and help them manage them. I'm sure for some people that's good.

S Jack Butala:This is something I've been waiting for, for a long time.

Jill DeWit:Cool.

S Jack Butala:Imagine this, you're new. Or you already have a well-established business like us. Properties come in. You're looking at the asset. Some assets scream to be sold on terms. You can drive right up to them. There're all kinds of stuff you can do with them. Like this weekend, you can camp on it, it's in a beautiful area. It's not necessarily a builder lot, but it's some kind of rec property that a family wants to purchase and use over time and then resell for more.

S Jack Butala:There's a lot of assets that have classified that for us. You don't have any money, but you're great at finding them. You find it. It's great for terms, you call this company, they buy it, and you manage the asset or they actually manage it for you and pay you a percentage.

S Jack Butala:How fast do you think if you're good at buying good properties like this, can you build up a portfolio with these guys and make 10, 20, $30,000 a month?

Jill DeWit:Pretty quickly.

S Jack Butala:Really, really fast. This is very unusual. People fund deals more like us, which is a lot more common in this group is, Jack and Jill, here's an asset, it's $50,000. I know it's worth 120. I've done 25 deals. I need the 50 grand. We write the check, you go and sell it. And we split the profit. That's the regular deal funding model.

S Jack Butala:But if you have that other personality type that loves these payments, and there's a lot of people that do, and there's nothing wrong with that. Think about how much better it would be to get a couple of hundred dollars a month from a deal that you fed these guys versus owning a duplex.

Jill DeWit:Oh, that's for sure.

S Jack Butala:Because that's what this is.

Jill DeWit:

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