4 Land Flipping Business Changes To Capitalize During A 2024 Economic Decline (LA 2003‪)‬ Land Academy Show

Join Steven Jack Butala and Jill K DeWit on The Land Academy Show for episode number 2003, where they delve into Four Land Flipping Business Changes essential for thriving in the 2024 Economic Downturn. As experienced real estate professionals, Steven and Jill share invaluable insights and strategies to ensure your success amidst economic challenges. Don't miss out on this essential guide to navigating the changing real estate landscape!



Transcript:



Steven Jack Butala:

I am Steven Jack Butala.



Jill K DeWit.:

And I'm Jill DeWit, and this is The Land Academy Show.



Steven Jack Butala:

This is episode number 2003. We are calling it Four Land Flipping Business Changes to Capitalize on the 2024 Economic Downturn.



Jill K DeWit.:

That's a mouthful.



Steven Jack Butala:

Yeah.



Jill K DeWit.:

Can you say that five times fast?



Steven Jack Butala:

Well, here's the gist. There's economic downturn. We're in it and it's going to affect real estate. It's already pretty dramatically affecting commercial real estate. And we want to make sure that when you, you're buying and selling land, capitalize on this and you're not victim to it. And that's what the show is really about.



Jill K DeWit.:

We lost a lot of people... Not a lot of people. I shouldn't say that. We watched some of our friends/competitors back in the day not recover. And that's what I am watching already start to happen. I'm watching people leave. They're not getting it. They're not making adjustments. They're not ready for it. And since you have done this a couple of times, I've done this more than one time with you or one time with you. So, this is really why you're here. You're listening to this because we're not new to this. We're not brand new. And yes, it's really our real gray hair.



Steven Jack Butala:

This is my third real estate recession or real recession in my professional life, my fourth in my actual life. And I've learned a lot and I love to share it with you because you can avoid a lot of pain.



Jill K DeWit.:

True.



Steven Jack Butala:

So, before we start, you have some news.



Jill K DeWit.:

I do. Well, so here's the deal-



Steven Jack Butala:

And it's fascinating to me.



Jill K DeWit.:

All right, so instead of doing a question today, I wanted to take a few minutes and talk about something different. So, I was reading our local little newspaper. And you're going to love this as I hold this up. You're like, "What? Jill, why are you holding a piece of paper in your hands? Do you get the paper?" No, I do not. But I have to tell you, I don't order the paper. I don't think it's fufu. I like the paper, but I don't get the newspaper. But because where we happen to live and because I think the median age in our area is about 80 or 90.



Steven Jack Butala:

Yeah, I think 87.



Jill K DeWit.:

Yeah, 86. There is still a sweet little pretty in-depth local newspaper that we get for free every week in our mailbox. And I read the paper, because again, there's some good information in there. So, I'm reading this article done by a local resident, and he is in houses, in real estate doing houses. And he got connected with a guy in England and he wrote a neat article with a top performer in England, an agent over there. And he was sharing the differences on how real estate is done in England versus the United States, and I just loved it. And this comes right at a perfect time because we all are all watching and hearing about the NAR and this big fine and, oh my gosh, are they going to take away sellers agents or buyer agents? Are they going to change the commissions? What's going to happen and how's this going to go? And I wanted to shed some light on this too because it's so intere...