Steve’s Arizona GunSlinger Hot Sauce Business Failure (CFFL 0117)

Steve's Arizona GunSlinger Hot Sauce Business Failure Jack Butala: Steve's Arizona GunSlinger Hot Sauce Business Failure. 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. Jill: This is Jill DeWit for Land Academy. Welcome to our cash flow from Land Show. In this episode, Steven and I talk about 1 of his biggest failures, it hurts that I'm a gunslinger. Steven, I can't wait for our listeners to hear about this story, so they don't make the same mistakes. Steven: It hurts me, it's a bad memory. Jill: So sorry about that. Steven: I'll share it for you. Jill: I hate to put you through this, but hey, before we start the story, let's take a question from a caller. Steven: Dale, from Vancouver asks, "So really, you don't need a real estate license to do this? Can you please explain?" This is an interesting question Jill, you want to take it, or do you want me to? Jill: I want you to take this. Steven: It happens a lot. Jill: It comes up a lot. You figured this out years ago, and I like your explanation. Steven: I'll give the short answer first, and then I'll tell you why. The answer is you can do it with a license or without a license, and in that effect, there's almost no difference at all. Somewhere along the line, probably a lot of years ago, somebody planted this idea in the American public's head that you have to have a real estate license to be an investor, and nothing could be further from the truth. You don't need to have a dealer license for a car dealership to buy a car, it's the same thing, so no. Very, very, very intelligent people make this mistake. It happens weekly to Jill and I, that people are running out getting a real estate license so they can be a real estate investor. The truth of it is, this is my pain, a licensed real estate agent is kind of subject to a different liability situation, or risk situation than an unlicensed person, because theoretically a licensed real estate agent, at least on paper is more experienced and they should know better. In reality we know it's really based on experienced and that's about it, so no, you don't need a license, but here's my recommendation. Real estate is cool, in most places it's pretty inexpensive. Out here it's about 500 bucks for 2, 3 weeks of education. I always recommend going to real estate school. More education is always better in everything, not just not this. Go to school. Hey, maybe you might decide to take the exam at the end and become an agent, and decided that it's for you, but at the very least you're going to spend 3, 4, 500 dollars and get a tremendous amount of value in a real world experience and learn about stuff. Jill: It's true. Steven: Then at the end decide, so no. Jill: Well I did this way too. Steven: Jill and I are not licensed. Jill: We're not licensed, but [crosstalk 00:02:41] Steven: Nobody here is licensed. Jill: As an investor, it's you buying your own assets, you're not representing somebody else to. Steven: Right Jill. Jill: It's different when you're representing somebody else. That's where the difference is, but people somehow they ... For some reason it gets blurred, and I don't know why. Like I'm buying something for myself and my company basically. Steven: Yeah, I think the blurriness comes from ... I agree with you, it's very blurry. The blurriness comes from the fact that there's a huge machine. There's a huge economic, political machine of people that are very, very interested in having as many license reorders as possible. If they're 1 of the top 5 largest special interest groups in Washington. That's what these fees are about, and these mandatory associations. Realtors have to spend a lot of money just to be licensed,