Accumulating Equity in Real Estate Wholesaling (LA 751)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hi.

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 today from beautiful sunny, gorgeous, south Lake Tahoe.

Steven Butala:                   Yeah.

Jill DeWit:                            I am looking out the window at this view, Steven, and it's breathtaking.

Steven Butala:                   Jill and I are on vacation, but sort of not. This is what we always do.

Jill DeWit:                            Here we are recording on vacation.

Steven Butala:                   We're recording on vacation, we're having a lot of fun, and we're looking at real estate. This has been our life since we met.

Jill DeWit:                            Yeah.

Steven Butala:                   It turns out, this is long before we even started Land Academy. It turns out people have some fascination with this.

Jill DeWit:                            What? Real estate?

Steven Butala:                   Just with our silly little way we do stuff. It still just cracks me up.

Jill DeWit:                            This is true.

Steven Butala:                   Lake Tahoe in Neva ... I mean Devada, has a zero percent income tax. You don't file a ... I don't know if you do file a tax return here or not.

Jill DeWit:                            There's no state income tax.

Steven Butala:                   California's is 13%. If you make a million dollars in real estate, you pay $130,000.

Jill DeWit:                            In income taxes.

Steven Butala:                   In income tax in California. You pay exactly zero in Nevada. Nevada's actual real estate, property tax rate is literally higher than California's. Properties cost so much less that it ends up being, from a money standpoint, way less.

Jill DeWit:                            It works out.

Steven Butala:                   That's why we're here.

Jill DeWit:                            Yes.

Steven Butala:                   Plus we're not suffering from lack of fun.

Jill DeWit:                            Exactly. Thank you.

Steven Butala:                   Before we get into the topic ... Oh, today's topic is accumulating equity in real estate wholesaling. Wow. Could that be any more generic?

Jill DeWit:                            Oh my goodness. Exactly.

Steven Butala:                   I wrote the title.

Jill DeWit:                            I'm sure we have a lot of listeners that sought that out.

Steven Butala:                   I promise you we will make this fun.

Jill DeWit:                            Okay.

Steven Butala:                   I promise.

Jill DeWit:                            You promise me?

Steven Butala:                   Yep.

Jill DeWit:                            Okay, thank you.

Steven Butala:                   I promise the three or four people that are listening to this, I promise.

Jill DeWit:                            Oh, good.

Steven Butala:                   Before we get into the topic, let's take a question posted by one of our members on the LandAcademy.com online community. It's free.

Jill DeWit:                            Okay. Andrew asked, "I'm having trouble targeting an area by APNs for my...