2022-2023 Real Estate Market and What it Means for Land Investing (LA 1810)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill DeWit:

Howdy.

Steven Jack 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 Jack Butala:

Today. I'm going to talk about, and Jill's probably going to listen the 2022 and 23 real estate market and what it means for land investors like us.

Jill DeWit:

Hilarious.

Steven Jack Butala:

Here's a hint. It's awesome.

Jill DeWit:

I'm excited.

Steven Jack Butala:

Interest rates are going up.

Jill DeWit:

I hope you're going to let me share. Am I going to get to talk today? Okay.

Steven Jack Butala:

God, when do you not talk?

Jill DeWit:

Am I just going to be someone on your arm again?

Steven Jack Butala:

Oh geez. Yeah. Yep. My trophy partner, Jill.

Jill DeWit:

Yeah, that's right. Hey, watch it buddy.

Steven Jack 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 and please make sure you check us out on discord, if you're a member. If you need help outsourcing your mail operation, meaning you know, your blind offer campaigns. Check us out at offers 2 owners, offers the number two owners.com and click around for product we released called concierge data. It allows people who are brand new to help... We'll help you get that first mailer out or if you've been sending 50, 80,000 mailers out a month, like we do sometimes allows you to outsource it there. It's a great product. It's getting used widely to the point where we had to shut its down recently, because we couldn't fill the orders. So by the time this airs, it should be back open or if not very soon after that.

Jill DeWit:

Sweet.

Steven Jack Butala:

Staffing.

Jill DeWit:

Erin wrote, "Is there a reliable way to check out whether a subdivision has an HOA with covenants?" I've never known HOA that didn't have some covenants, but there we go. Anyway. "Sometimes it is easy when they have a website. Are they recorded? For the lot I'm looking at now in a new area, I pulled the recorded plot, but all I could find related to the, is a subdivision name." There we go. "So far I see no evidence of an HOA, but it isn't a big subdivision. So what do I do?"

Steven Jack Butala:

This comes up. May I?

Jill DeWit:

Okay.

Steven Jack Butala:

No, go ahead.

Jill DeWit:

No, that's fine. No, no go ahead.

Steven Jack Butala:

What do you do?

Jill DeWit:

So here's what I do. This does come up because you're not sure. Usually if there's a name like Shady Acres. All right. Shady Acres lot 23. All right. I might need to look into that just to make sure versus just the legal description and no thing like that, like lot, block, unit kind of thing. Even those could be, but usually you'll have a little indication. It's something you always want to check no matter what anyway. So how I check is there's three ways. I do my own Google digging. My Google search for Shady Acres HOA, POA, homeowner association, property owner association. See if everything pops up. Okay. Nothing there. Okay, good. This is good news. Then I go to phase two, which is... This takes a few minutes by the way.

Phase two is I'm going to go out and look for property for sale or sold in that area and see if there was an HOA like, "Oh look, here's a property in the same subdivision that sold 18 months ago," I'm going to be looking at the comp anyway, cause I'm checking it out and then I'm going to go through the description and see, "Oh look, it was an agent." And I'll look through and see, is there an HOA or POA the box? There's some information in there. Often that's where I find it, by the way is doing a little recon to somebody else's posting and then I've got it like, "Okay, noted. There it is." And then the third one, it's always an easy one too.