When Doubling your Money Just is not Enough – Sell on Terms (CFFL 0051)

When Doubling your Money Just is not Enough - Sell on Terms (CFFL 0051) Jack Butala:  When Doubling your Money Just is not Enough. Why We Can Afford to Give Land Away Every Month. 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 Butala:                   Hey, this is Jack Butala for Land Academy. Welcome to our cash flow for land show. In this episode, Jill and I discuss the decision that we go through on every single property we buy. Do we sell it for cash or terms, do we double our money in a week or do we make 50% annual return on our investment for the next several years. Jill, this is such a topic that we talk about or manage every single day that I forgot to include it in our regular show like probably I should have done it a lot earlier. Jill DeWit:                            Yeah that's true, it's a good thing to bring up and let everyone know how we do this or what we do when we're selling properties. Do we sell it, like you just said, cash or terms. Jack Butala:                   Let me tee up the typical situation. We send out a bunch of mailers, and within that mail, we send out offers, actually, in direct mail to buy people's property. A certain percentage, pretty high percentage, mail them back, or they call Jill back and they say yeah, I do want to buy the property, and so we do. We buy a piece of property for let's say $1,000. A piece of vacant land, and we're going down the path of purchasing the property, and we purchase it. This is very typical for us. We do multiple transactions like this a week, and we teach everybody how to do it at land academy. Our members are doing it. If you want to check out success plan, they're talking about it all the time in real time, successplan.com. We have this property that we were into for $1,000. Let's say it's five acres in northern Arizona, or 10 acres in northern Arizona, and it passed all our tests. Then Jill and I stare at each other and say ... Jill DeWit:                            Do we just double it tomorrow, flip it quick and get some acquisition cash, which I love having a healthy balance. Jack Butala:                   Do we sell for $2,000 or $3,000 really fast, or do we sell it for $10,000 or $12,000 or $15,000 on terms, let's say $99 down $99 a month for eight or nine years. That's the point of this. When doubling your money is just not enough, do we sell it on terms? I think you like terms deals, don't you? Jill DeWit:                            I do. It's great. Everybody wins on that one. Well, either way everybody wins no matter what, because even the way we buy and we sell, it's pretty much way under retail if you will. Everybody loves that. But for people who don't have the cash and they really want the property, typical banks will not finance on improved land. We can finance it for them, and they're thrilled. Jack Butala:                   Right. I think like this and a lot of topics, you come at it from a customer perspective which is awesome. One of the many reasons we're partners. I come at it from a numbers perspective. I think a good healthy balance of both is great, but I know that the people who purchase, tons and tons of people that we collect payments from every month on transactions like this, I know how appreciative they are. I know they call and say there's no way I could have ever bought this property. You're making my dream come true. Jill DeWit:                            Totally, they love us. They thank us and they can start using the property today. They are so appreciative too. I wrote some notes earlier and I put not like a mean bank, because I feel bad. We all know how banks are, let's be honest. I have a few customers now and then, especially around the holidays,