Back Tax Property - The Truth

Jack Butala: Back Tax Property - The Truth. Leave us your feedback for this podcast on iTunes and get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening.

Jack Butala:                            "Truth be Told" with Jill DeWit.

Jill DeWit:                               Hello.

Jack Butala:                            Welcome to our show today. In this episode, Jill and I talk about back tax property and the truth. The truth about back tax property entirely. Awesome show today right after Christmas Jill. Before we get into all that, let's take a question posted by one of our members on the LandAcademy.com online community, it's free.

Jill DeWit:                               Okay. Kevin asked, "I'm getting some desert properties that are in a subdivision with covenants and restrictions. No mobile homes, even on concrete pads and home plans must be approved. My offer of $500 for 500 acres is being accepted." Love it. "Do you have any experience with selling this improved, quote unquote, type of desert vacant land? I feel like it would take a very different buyer to respond to these property types."

Jack Butala:                            Well, first of all it's a great question. My gut reaction right to this question is we're just all now real comfortable buying property for 500 bucks an acre.

Jill DeWit:                               Exactly.

Jack Butala:                            I mean $100 an acre.

Jill DeWit:                               Exactly.

Jack Butala:                            Good for you Kevin, you're doing it right and I'm glad the offers are getting accepted and no, this doesn't scare me at all. Does it scare you?

Jill DeWit:                               Not at all.

Jack Butala:                            Pros and cons. Just like with an HOA with a house, with a residential, where you live. There's a real good ... Some divisions that are heavy on HOA, the pros are somebody doesn't have a camper across the street in the driveway all day.

Jill DeWit:                               Eight foot long weeds and overgrown things like that. It's maintained. Somebody's taking care of stuff.

Jack Butala:                            Yeah, and the cons are in general. You're regulated, somebody's watching you. For some personalities, they love it. For some personalities, they really want to bang on something in the garage all day and night. It's like anything else. That person that wants that type of property is going to find it If their price is right. No, I would buy property, buy away.

Jill DeWit:                               Yeah, I agree. It doesn't scare me at all. Is it a very different buyer? No. You know how to do this right Kevin. You're going to be posting this all over the planet and you will reach that person. It's no different from the person that wants the lakefront to the person that wants the treed, not on the lake because it gets cold. Who knows? There's little nuances of things that people want and I stopped a long time ago guessing. This is one of those things too where your opinion might be stepping into it and sometimes you just have to get out of your own way.

Jack Butala:                            It's a good question.

Jill DeWit:                               Yeah, it's a great question. "Do I need to be worried about this?" Nah. "It is going to take me longer?" Probably not. It's probably going to be just fine. You're going to reach them.

Jack Butala:                            We have customers who contact us regularly seeking out property with no access so that's, in my opinion, that's the end of the end so do we go out seeking property with no access? No, we don't but when it comes across our desk and it's a pretty strong acquisition candidate we think twice.

Jill DeWit:                               That's true.

Jack Butala:                            If you're brand n...