Bad Acquisitions (LA 787)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

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

Jill DeWit:                            And I'm Jill DeWit, and we are broadcasting from sunny Southern California.

Steven Butala:                   Today, Jill and I talk about bad acquisitions. Why would you choose a topic like bad acquisitions? Here's why. Because yesterday we talked about good acquisitions. It's the Yin Yang of life, right?

Jill DeWit:                            Bad acquisitions. Bad, bad, bad acquisitions.

Steven Butala:                   Like when the kids are little.

Jill DeWit:                            And how to avoid bad acquisitions, what they are, how to see them coming, how to kick them to the curb. You like that? That's gonna be my rant today.

Steven Butala:                   Guess what? Bad acquisitions happen, because you pull a trigger on something you shouldn't be buying.

Jill DeWit:                            It's true.

Steven Butala:                   We have long since done that, I'm so happy to report. I'm trying to think of a bad acquisition we've done.

Jill DeWit:                            You know what's funny? Some of our people think that, oh, because I didn't exactly double my money, that that's a bad acquisition. I'm here to tell you that's is not a bad acquisition, so we'll talk more about that.

Steven Butala:                   I only made 80,000, instead of 100,000.

Jill DeWit:                            Shucks. I know. Darn.

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

Jill DeWit:                            Max asks, "Hi, everyone." Totally. Max asks. I have to really annunciate that. "Hi, everyone. I am new to land investing and wanted to reach out to the community to try and get a better understanding of the process to find good, cheap land to buy. Is it safe to say that I can potentially send out my mailer to any county that returns enough results in my acreage/price point, et cetera?"

Steven Butala:                   Yeah.

Jill DeWit:                            "My plan is to find any state/county of my choosing where the price point fits my purchasing comfort level. From there I plan on using Data Tree to plug in the state, county, acreage, and vacant land characteristics. If it results in more than 1,500 rural vacant land properties, does that mean it's a good county to send offers out to? I would price a property based on the zip code by taking one fourth of the cheapest property in each and set that as my offer. I'm completely new to this [inaudible 00:02:22], so any advice or help would be greatly appreciated. Thanks."

Steven Butala:                   Go, Jill. Go.

Jill DeWit:                            I was gonna say for being completely, completely brand new, boy, are you on the right path? You're gonna kill it. If this is you knowing nothing, holy cow. What are you gonna be like? You're gonna be a machine a year from now.

Steven Butala:                   Well, this is this person being new at ready to do it, but he's been listening to the show.

Jill DeWit:                            Yes.

Steven Butala:                   Or talking to people on Land Investors.

Jill DeWit:                            Soaking it all in.

Steven Butala:                   Yeah. Soaking it all in.