$100 an Acre Only Works in Certain Counties

Jack Butala: $100 an Acre Only Works in Certain Counties. Leave us your feedback for this podcast on iTunes and get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening.

Jack Butala:                            Jack Butala with Jill DeWit.

Jill DeWit:                               Hello.

Jack Butala:                            Welcome to our show today, in this episode, Jill and I talk about $100 an acre. Where it works, and where it doesn't work. It gets thrown around a lot in our whole environment.

Jill DeWit:                               Too much sometimes.

Jack Butala:                            Before we get into it thought, let's take a question posted by one of our members on the LandAcademy.com online community, it's real.

Jill DeWit:                               Okay, so Nat asked, where and how do you disclose no access? Do you say for example, land locked, or no easement, or no access what specifically?

Jack Butala:                            This is a great question too. Just like yesterday's.

Jill DeWit:                               First of all, I probably wouldn't be buying some of them if they're really are in that situation. I got to go back to that.

Jack Butala:                            This brings up a fantastic question right, we have the four A's. That's how we decide whether to buy property. When a signed offer comes back, we run it through, basically run it through the four A test. Access, which were going to talk about in a second, acreage, more is usually better, attribute, like it's on a water front or a mountain view, and-

Jill DeWit:                               Affordability.

Jack Butala:                            Affordability, cheaper is better. This is access, so, access comes up every single day in this business, and it will for the rest of your career. There's physical access and legal access, and then there's no freaking access. Helicopter access.

Jill DeWit:                               That's hilarious.

Jack Butala:                            We don't even buy those properties anymore. I see some of our members on LandPin, there posting their property and it's got helicopter access, is what I call. They do okay.

Jill DeWit:                               Beautiful cliff side property.

Jack Butala:                            Look, I'll tell you, that's a whole specialization in and of itself. The historical, all you've ever heard from seasoned real estate people on bigger pockets or anywhere else, yeah, you're buying that property so cheap because it doesn't have any access then. The fact is this, there are a tremendous amount of people out there who want property with no access.

Jill DeWit:                               True.

Jack Butala:                            What they don't want, what no one wants, is to be lied to.

Jill DeWit:                               Exactly.

Jack Butala:                            If you know it has no access, then say, here's the maps, here's all the stuff and the description. I never checked on access at all, looks to me like there's none, but before you buy this property, really take a good look at access. We never looked into it, we're in the business of buying and selling property. Everything I know is on this posting.

Jill DeWit:                               Right.

Jack Butala:                            It's a decision on what you want to specialize in, there's a time a long time ago early in my career, where I bought property like that all the time. I said, I don't know if it has access here's all the maps, you decide.

Jill DeWit:                               Right. Which is being honest.

Jack Butala:                            Which is one of the ways that we became wholesalers, it was just easier to do that with people who are in the industry, and then they can decide for themselves.