3 Biggest Road Blocks Creating Real Estate Wealth (LA 710)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

Steven Butala:                   Welcome to the Land Academy Show, entertaining land investment talk. Happy Friday. I am Steven Jack Butala.

Jill DeWit:                            And I am Jill Dewitt, broadcasting from beautiful sunny Southern California.

Steven Butala:                   It is perfect today.

Jill DeWit:                            It is.

Steven Butala:                   Today, Jill and I talk about the three biggest roadblocks in creating real estate wealth that we see. We are actually qualified to do this show.

Jill DeWit:                            We are.

Steven Butala:                   ‘Cause we see … We deal with a lot of people-

Jill DeWit:                            And we’ve had-

Steven Butala:                   At all different levels.

Jill DeWit:                            Yeah, and we’ve been there.

Steven Butala:                   Yeah.

Jill DeWit:                            That’s even better.

Steven Butala:                   And we’ve experienced all these roadblocks, and believe it or not, we experience ’em all the time.

Jill DeWit:                            Yeah.

Steven Butala:                   As far as you get, there’s still is stuff that stands in the way.

Jill DeWit:                            Totally.

Steven Butala:                   It’s the norm actually. Stuff standing in the way is a norm. Why’s that so funny?

Jill DeWit:                            I don’t know. It’s just funny.

Steven Butala:                   Before we get into why Jill’s laughing, let’s take a question posted by one of our members on LandAcademy.com online community, it’s free. Jill laughs all the time by the way.

Jill DeWit:                            I do.

Steven Butala:                   She wakes up laughing.

Jill DeWit:                            Thank you.

Steven Butala:                   It’s really-

Jill DeWit:                            Not for the reasons that you might be thinking.

Steven Butala:                   Oh my gosh.

Jill DeWit:                            No. Matt asks-

Steven Butala:                   She’s laughing at me.

Jill DeWit:                            No, I’m not. Matt asks, “I have a deal that is .11 acres near a lake-“

Steven Butala:                   I like it.

Jill DeWit:                            “I’ve got it under contract for $1,000, and I haven’t seen anything sell less than $3,500-“

Steven Butala:                   Congratulations.

Jill DeWit:                            “In the last three years with most selling for $5,000 to $7,000.” This is starting out fantastic. “This lot is a bit of a jungle though with lots of landscaping to make it build-able, I imagine. Considering the lot is only 50 feet by 100 feet, would you pass on this deal? I imagine that if it cost a lot of money to clear the lot, then it’s resale value is shot. Thanks for the advice, I’m new to the group, so sorry if I’m posting in the wrong location. I’m still figuring out the forums.” That’s cute.

Steven Butala:                   This is good.

Jill DeWit:                            Good Matt.

Steven Butala:                   So the three rules of real estate are, go ahead, location, location, location. If you have point … Notice they’re not size location, location, or location, location, size. They’re location, location, location, so I rather … Would you rather have .