How to be a Sunday-Only Real Estate Investor (CFFL 311)

Jack Butala: How to be a Sunday-Only Real Estate Investor. 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 Butula: Jack Butala with Jill DeWit. Jill DeWit: Hi. Jack Butula: Welcome to our show today. In this episode Jill and I talk about how to be a Sunday Only Real Estate Investor. That's what I was for years. Years and Years. Before we get into it, let's take a question, posted by one of our members on successplan.com, our free online community. Jill DeWit: Sounds good. All right. Luke, I am not sure which Luke this is, we have several. They know who they are. Jack Butula: All Luke's are doing great by the way. Jill DeWit: Isn't that interesting. Jack Butula: Seriously. Jill DeWit: That's what I'm saying. I'm not sure which Luke it is. But when I see that name I know it is going to be a good question. Jack Butula: If your names Luke Jill DeWit: And your in our world Jack Butula: Luck is on your side man. Jill DeWit: Exactly. That's right. If your name is Luke, join our world. You'll be just fine too. Because our two other Luke's will help. All right Luke asks "I have a buyer that wants to determine, if a septic system can be put in, prior to purchasing the property. Do you recommend getting it under contract and letting them do a test, while it's under contract. Or just tell them that they can have a test done now without getting it under contract, or, handling it some other way". Jack Butula: There is two questions here. A Perc Test is what Luke's talking about which is testing the soil for solubility. How soluble the land is. If the land can handle a septic system. That's what they are talking about. Yes, I would say yes. Go ahead and do the Perc Test, do whatever you need to do. Not put a septic system in, but test to see if it will take it. That's a regular part of due diligence. That's sort of like doing a "walk through" on a house before you buy it. That's really what that is. Jill DeWit: The guys going to pay for it themselves obviously, because I am not going to pay for it, but if they want to pay for they're own Perc Test and come out and do it. Great. I just got free information on my property is really what it is. Jack Butula: Exactly. Go ahead and build a house while you're there too. Then he can decide. Jill DeWit: Exactly. Jack Butula: Make sure it's one that you can't take with you. Jill DeWit: Exactly. Go lay that foundation. Thank you. Jack Butula: So yes, I would absolutely within reason, let people do what they need to do to see if they want to buy it. But not for four years, maybe a week. Jill DeWit: You know what, I just thought about the same thing. Your not going to tie up my property unnecessarily for a month, because if somebody else comes along and wants to pay cash for it tomorrow, when your still doing your Perc thing, I love hearing what you said Jack, we may get one week or two weeks to get this done and we will sit tight, but after that, I've got to move on. Jack Butula: If you have a question, or you want to be on the show, reach out to either one of us on Land Academies online community. Today's topic, the meat of the show, how to be a Sunday Only Real Estate Investor. Jill, I bet you have a lot to say about this. Jill DeWit: Oh boy, do I have a lot to say about this. You know it comes down to "what do you want to spend your time on". Time is money and if you have a full time job and a family, do you really want to be spending weeks and weeks and weeks and weeks, and trust me I talk to these people all the time, they are trying to save, and you know what in the end they don't save any money. Getting data an alternate way and learning to scrub it themselves.