Math on Rental Property vs Buying and Reselling Land (LA 1335) - a podcast by Steven Butala & Jill DeWit

Math on Rental Property vs Buying and Reselling Land (LA 1335)

Transcript:



Jack Butala:

Steve and Jill here.



Jill DeWit:

Hi.



Jack Butala:

Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.



Jill DeWit:

And I'm Jill Dewitt, broadcasting from sunny Southern California.



Jack Butala:

Today, Jill and I took take a look at or talk about math on a rental property, versus buying and reselling land.



Jill DeWit:

I would like to take a moment and explain to everyone, this is business week. So if it sounds a little dry, it's really some important business topics that we're covering.



Jack Butala:

I love talking about this stuff, that's the truth of it.



Jill DeWit:

That's good. So, it's exciting for you.



Jack Butala:

The whole premise of this topic is, we get some version of this all the time, "Hey, I've got a couple of hundred thousand bucks. What should I do? How can I really maximize," the question is, how can I maximize it for my personality type? Because we have friends who have made single family, residential, rental empires, not joking. And we have friends who have apartment building empires. And everybody's real happy and comfortable, and it all makes sense to them. And they look at us after a couple of drinks and they say, "What the hell do you guys mean you buy and sell land? To which I say, "What the hell do you guys mean? You 22 four-room apartments in Los Angeles, or four-unit apartments. That's my nightmare." And their nightmare is to buy rural vacant land. So, it ends up being a pretty funny conversation, almost always. But that's what this show's about.



Jill DeWit:

Thank you.



Jack Butala:

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:

Greg wrote, "I'm so sorry for not being a good rule follower without understanding the reasons behind things."



Jack Butala:

Okay, stop right there. Greg, I love this. I love it. I love that you're not a rule follower, and I love that you question everything. I think that those elements of a personality make you massively successful at whatever you're going to try.



Jill DeWit:

I don't usually get the same response out of you.



Jack Butala:

You people all need to start wearing a mask.



Jill DeWit:

That's funny.



Jack Butala:

What do you mean? Why do I have to wear a mask? I'm just telling you, you have to. That's a rule follower.



Jill DeWit:

I was with the kids in Costco the other day. Totally this. I'm like, all right. We're weren't sure if we were allowed to walk around and eat. They had a food cart right there. And I was actually with kid one and a friend, so I had two guys with me, and they're starving. I'm like, "All right, we're going to go over to Costco to hit the little food area and get some hot dogs and some drinks." But they took all the tables out, right, because it's all indoors in this Costco, because it's in Seattle. I'm like, oh, okay. So, I'm not sure if we're allowed to walk around the store eating like this. I think we are; it's Costco. But anyway, I just turned to both of them real quick and I said, "Are we going to ask for forgiveness or permission?" They said, "Forgiveness" in unison. I said, "Nice. Let's go get you guys some food."



Jack Butala:

You're a good mom.



Jill DeWit:

I am a good mom. Thank you. It's really funny.



Jack Butala:

Can you repeat this?



Jill DeWit:

Okay, let's go back.



Jack Butala:

Because I just love this.



Jill DeWit:

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Further podcasts by Steven Butala & Jill DeWit

Website of Steven Butala & Jill DeWit