Don’t Make Your Primary Residence Your Worst Real Estate Deal (CFFL 0228)

Don't Make Your Primary Residence Your Worst Real Estate Deal Jack Butala: Don't Make Your Primary Residence Your Worst Real Estate Deal. Every Single month we give away a property for free. It's super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening. Jack: Jack Butala and Jill DeWit. Jill: Hello. Jack: Welcome to the show. In this episode, Jill and I talk about not making your primary residence your worst real estate deal ever. Hey, it happened to me, I'll tell you the story in a second. Great show today Jill, let's take a question posted by one of our members on successplant.com, our free online community. Jill: Yes. Courtney L wrote and asked, "I paid too much for some properties, what do I do now?" Jack: Oh, this is very timely. This is perfect for the show. You just sell them, even at a loss. You just got to get past them. Get the cash, as much cash as you can. We pay cash for everything, get as much cash back. When I see happening is people well on it and say, "Well it's over. I can't do it anymore." It's just a little tiny bump. People do it. It happens to us, not so much anymore, but because we are a couple of decades into this thing. If you have a group of property, a lot of new members come to us and say, "I paid too much. I don't know what to do. I can't sell these properties." I tell them, every single one of them the same thing, "Hey, reduce the price to the point where you can sell them, or sell them on terms or something where you collect payments forever, but you got to get past it." Jill: Move on. Jack: Yeah. Move on. Jill: You know, you learn that sometimes that happens. You can't dress them up and sell them. If it's not worth it, it's just not worth it because you did accidentally overpay. Jack: What I see is people sending, they can't believe how inexpensive they are sending these offers out, so they stare at an offer before it goes out and they say, "There's no way that I can buy 5 acres for 500 bucks. I feel like a jerk, or an idiot by sending this." So they market of 1500, 2000, even 4000 bucks, and they send them all out, and then they get a lot of them signed and returned, and they buy the property. This is usually before they learn about Land Academy. They say, "Geez, I didn't realize." Or they made an honest mistake and maybe even priced it wrong. It's not so much that they are embarrassed to send it out, they just didn't price it right. Just get past it. Like anything in life where you made a mistake, you just chalk it up to experience, get back on the horse, and make it right on the next miller. Sounds like advice you would give Jill. Jill: Totally. Just have to move on. We can sit and fret over it and let it bring us down and kind of beat ourselves up about it, but don't worry about it, move on. You know what my thing's to hurry up, unload them, and do it right, and then down the road when you recover from this, you can look back and go, "Oh boy, I made a mistake there, but I learned and now I have this much money in the bank." That's okay. Jack: Right. Jill: You'll catch up, don't let that sink the ship. Jack: Yeah, this concept works with wives too. If you have a question or you want to be on the show, call 800-725-8816. Jill: Back up the truck. Jack: Back up the truck? Jill: I don't know what else to say. Jack: Back up the truck. I love that. Let me use that. Back the truck up. It sounds, "Shut the hmm up." Jill: You know Jack, you are famous for slighting things in there hoping I'm not going to catch them and I caught that one. This works for wives. Jack: Back the truck up. Jill: Gee whiz. Jack: That's my new favorite saying. Jill: Oh my gosh. What, you overpaid for a wife? Jack: