Accurate Mailer Pricing in this Hot 2022 Real Estate Market (LA 1754)

Transcript:

Steven Jack Butala:

... Steve and Jill here.

Jill K DeWit:

Hello.

Steven Jack Butala:

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

Jill K DeWit:

And I'm Jill DeWit broadcasting from the Valley of the Sun.

Steven Jack Butala:

Today Jill and I are going to talk about accurate mailer pricing in this hot 2022 real estate market.

Jill K DeWit:

Yep.

Steven Jack Butala:

There seems to be, as there always are, Jill and I used to joke, and we still joke in Career Path, all questions lead to pricing, or answering your phone. In fact, there's Career Path, you don't need to go, price correctly and answer your phone.

Jill K DeWit:

There you go. By the way, you know how I know that this is all confused and screwy right now, because I have people sending me offers that are just too high.

Steven Jack Butala:

Yeah.

Jill K DeWit:

So we need to clarify a few things here, [inaudible 00:00:51] I hope we do.

Steven Jack Butala:

Do 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 I'd like you to know, we have a full-blown commercial printing company Jill and I own called offers2owners.com. And we set it up a lot of years ago, because we were unsatisfied with using products like Click2Mail, they just don't really understand our very specific mailer campaign operations. So that was then, and now we do between 700 and 900 and offers, we get those in the mail every single month on behalf of our members, and non-members. Go to [email protected], and check it all out.

Jill K DeWit:

JD wrote, "Just curious what everyone's thoughts are on the following, does a buy for 25 to 35% of cost, and sell for 75 to 85% of market value, flipped 30 days or less, work for higher price land also?" I love this.

Steven Jack Butala:

This is a great concise question. JD was part of Career Path the last time, and I know what market he's in, and yeah, of course it does. I can't stress this enough, this is the moment of the podcast that you should really pay attention to, if there is one.

Jill K DeWit:

Yeah.

Steven Jack Butala:

In fact, this is the moment of the whole week, [crosstalk 00:02:12] save you some time.

Jill K DeWit:

Okay.

Steven Jack Butala:

Common sense applies here. If you look at a piece of property, and you can watch Jill do this multiple times on the Thursday call, if you say to yourself, "Oh, I'm buying this. The real estate's great, it's got all the six A's, the price is amazing." I can tell you right now, at the purchase price that it's been accepted on the mailer of $30,000, and there's immediate comps in the area for 100 to $200,000, or whatever the numbers end up being, we're buying it. So how do you arrive to that point? How do you actually arrive to just being confident enough, and comfortable enough to say, like we all do on the call, Laurie and Brandon, and you and I that, "Yeah, I'm buying it and there's no doubt about it. Let's open escrow."

Jill K DeWit:

I know-

Steven Jack Butala:

Experience.

Jill K DeWit:

Yeah, they were going to say the same thing. Good, yep.

Steven Jack Butala:

How do you get experience if you're brand new? By watching the library of content that Jill and I have put together, thousands of hours, literally thousands of hours of us reviewing people's deals.

Jill K DeWit:

That's a good exercise, you know what I would do? I would watch the Thursday calls. They're all recorded for you, our members, and I would go through, as we're doing the, Would You Do These Deals? I would pause it on the video, and then kind of guess what I think my answer would be, and then let us, you and I, weigh in.

Steven Jack Butala:

Yeah.

Jill K DeWit:

How we do it is, people submit, they put in the state county APN, purchase price that's accepted, what they think they could sell it for, and then any details,