Jack Thursday – 5 Things You Must Know Before You Start Real Estate Investing (LA 1502)

Jack Thursday - 5 Things You Must Know Before You Start Real Estate Investing (LA 1502) Transcript: Steven Butala: Steve and Jill here. Jill DeWit: Hey. Steven Butala: Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala. Jill DeWit: And I'm Jill DeWit, coming to you from sizzling Scottsdale, Arizona. Steven Butala: Today, Jill and I talk about, well, it's Jack Thursday. Jill DeWit: Yeah. Steven Butala: It's the five things you must know before you start real estate investing of any kind. I'm going to tailor mine a little bit to land, but it's really just being a general real estate investor. Jill DeWit: Oh. Steven Butala: I think there's a little bit of a misconception about what this takes. Jill DeWit: Oh. I can't wait because I wrote down my own list. I had trouble coming up with five. I think I came up with four. I could have turned four into five. I thought, "Nah, I'm going to leave them condensed." Steven Butala: I came up with 40, but we'll just do the top five. Jill DeWit: Aha. But mine's also just general real estate investing. Mine is not necessarily land-focused. It's kind of anything. Honestly, mine can be any niche. Mine can be anything. Mine could be the top five things you must know to start X. Steven Butala: A marriage. Jill DeWit: Even that. Steven Butala: Go. Jill DeWit: No, I'm not going to share my list now. Steven Butala: Quick. Come on. Read it off. Jill DeWit: No. I'm not going to share my list now. Steven Butala: Top five things you need to be in a successful marriage. Go. Jill DeWit: It's the same list. I'm going to share it in a minute. Steven Butala: It's the same list? Jill DeWit: Oh, it's good. Steven Butala: You want to get into it? Jill DeWit: You're going to hear this. We're going to do this in a minute when we get to the topic. We're going to have you envision my list. Steven Butala: Right. Here's a new title. There's a new title, five things you need to know before you cross out, start fill in the blank. Jill DeWit: Start X. Oh, yeah. Steven Butala: Because that's how mine is too. Jill DeWit: Oh, mine could be a marriage. I'm going to use it. You know, I wrote it down as real estate investing, but we're going to sub marriage in a minute here and it's going to be funny. Steven Butala: Excellent. Jill DeWit: It's like Mad Libs. Steven 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, and if you're already with us in Land Academy, join us on Discord. Jill DeWit: Hold, please. Before I read the question, I'd like to give one little thing too. Don't forget, Land Academy deal funding is bigger and better and faster, and boy, do we have money. We now have limitless money available and decades of experience, you can tell, look at us, to help you get deals done. Right? Steven Butala: Yeah. See this gray hair? Jill DeWit: Lots. So go to landinvestors.com and click on the Deal Funding tab today. Thank you. All right. Steven Butala: Nice. Jill DeWit: Where was I? Danielle wrote, "I have an owner who wants to sell and has three people on the deed. All three will signed." That is helpful. "She also asked to have three checks, one-third to each." Fine. "She also asked that I send them each a purchase agreement." Okay, Danielle. Now you're pushing it with me a little bit, but okay. Steven Butala: Well, they're pushing it with her. Jill DeWit: That's true. Steven Butala: It's not you, Danielle. Jill DeWit: The other two are giving Danielle a hard time. I get it. "Should I list the property for the total amount? Should I list the property for the total amount on each purchase agreement or break it up into thirds for each person's portion? Or should I send all three a new purchase agreement, three places to sign?" I like that one. It's not that big of a deal. You don't even really need ... I mean, depending ... If you're going through escrow,