2 Types of Land Academy Members (LA 1391)

Transcript:

Steven Butala:

Steven and Jill here.

Jill DeWit:

Hello.

Steven Butala:

Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.

Jill DeWit:

And I'm Jill DeWit, broadcasting from sunny Southern California

Steven Butala:

Today Jill and I talk about the two types of Land Academy members. Who do you think they are?

Jill DeWit:

Hold on a moment. Let me think of some funny things. The ones over five feet tall, the ones under five feet tall. Just kidding.

Steven Butala:

The ones over East of the Mississippi and West of the Mississippi.

Jill DeWit:

The ones in the Northern hemisphere and the Southern hemisphere.

Steven Butala:

Yeah, that true.

Jill DeWit:

The ones that are in team Jack, the ones that are team Jill. I like that too. The ones that like social media, the ones that hate it and do it because they have to. Social media, how's that? Those that are computer savvy. I could go all day. Computer savvy or shoot, I'm still trying to figure out what alt-P is.

Steven Butala:

What is alt-P?

Jill DeWit:

Print.

Steven Butala:

Print. The ones who love data and the ones who love sales.

Jill DeWit:

There we go.

Steven Butala:

None of these are what this is intended for.

Jill DeWit:

This has been fun though, I like this. The ones that love the snow, the ones that hate the snow. I know where you fall.

Steven Butala:

The ones who really love land and money is secondary, or the ones who love money first and land is just a vehicle to get there.

Jill DeWit:

That's valid too. That's good.

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.

Jill DeWit:

Anthony wrote. Hello there. One of my first land contract deals has gone bad. The buyer cannot continue making payments. This happens. Boy, does this happen. One problem is that I recorded the contract with the County. I know. It was my first contract deal though. For a small inducement, the buyer will sign a notarized quick claim deed. My question, will having this quick claim deed recorded remove the buyer from the deed? Will this negate the contract? Is another form needed? I would really like to avoid court here and the buyer's flexible. The state of Oregon, if that makes a difference. Any input would be greatly appreciated. Thanks guys.

Steven Butala:

May I?

Jill DeWit:

Yes, please. I was going to say, "all you."

Steven Butala:

I'm going to start this off with an anecdotal professional story failure on my part.

Jill DeWit:

I like this. I may get comfortable for a minute now.

Steven Butala:

When I started in this business, I went to a tax auction a lot of years ago, many years ago in the 90s, and bought a ton of property and sold it for cash on eBay. And it had a false sense of security. I had a ton of on my chest. I felt great and made a ton of money. So I went and bought. All this is in our ebook, and I don't know. These stories are all over our education material. So I got that sense of security. Some of it false, some of it not, for cash sales and auctions and all of it. Buy it at an auction, sell it at an auction for more, how hard can this be? I said, "I'm going to try something new. I'm going to go, I'm going to contact a bunch of real estate agents in the rural areas of Arizona and see if they have any real cheap property like this. I'll just buy it for cash and sell it on terms." Because I'm flushed with cash now, after these tax auction sales. Too much cash, actually. Just like today.

Jill DeWit:

Yeah, don't get me started.

Steven Butala:

I go and buy a bunch of property just South of grand Canyon, really high quality properties, super cheap. $175 a lot. And I packaged them up, because of local laws, in six packs. Which makes pretty nice five or six acre property. And I start selling them on terms. I use, because I don't know any better,