Choosing Your Land Acquisition Niche Specialization (LA 743)

Transcript:

Jill DeWit:                            Are we sure it’s okay? Sorry.

Steven Butala:                   Steven and Jill here. We’re keeping it.

Jill DeWit:                            Oh, good. All right. Hello!

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

Jill DeWit:                            I’m Jill Dewitt … Fighting, I don’t know if it’s a summer cold or what it is and broadcasting from sunny southern California

Steven Butala:                   After all, we are just real people.

Jill DeWit:                            We are.

Steven Butala:                   We don’t just have the show. We have life. Today, Jill and I talk about choosing your land acquisition niche specialization. I like this topic a lot. Before we get into it-

Jill DeWit:                            It’s wordy (laughs).

Steven Butala:                   Before we get into it, let’s take a question posted by one of our members on the landacademy.com online community. It’s free and this question is long.

Jill DeWit:                            Thank you for prefacing that. Joe Asks, “Hi all. I wanted to provide an update on my first mailer. I Join Land Academy as a silver member in mid December and my first mailer went out the first week in January.”

Steven Butala:                   Right!

Jill DeWit:                            “Last week I received a call from a seller and his message was clear. I accept your offer. During due diligence, I found out that he owned four more properties in the same area. I called them back to discuss other properties and he agreed to sell them all. Now for the best part, I purchased five parcels, 39 point four acres in total for $16,000-“

Steven Butala:                   Just like yesterdays!

Jill DeWit:                            “All five of the parcels are over four acres and the cheapest four acre parcel for sale in the area is $49,000 on-“

Steven Butala:                   Oh my gosh, he’s going to make a quarter of a million bucks here!

Jill DeWit:                            Right. “The cheapest four acre property sold in the last six months, went for $42,000. Recent comps suggests at least one of the parcels has a market value of over $100,000-“

Steven Butala:                   These are the kinds of deals Jill and I do-

Jill DeWit:                            “I paid $3,000 for it. Insanity. One of the other parcels is eight point one acres and does not have road access, but as accessible by ATV via an old logging trail. I wasn’t thrilled about this one, but I wanted to go easy in the seller for giving me such a smoking deal, so I just bought them all-“

Steven Butala:                   Good! That’s the right thing to do.

Jill DeWit:                            “The most significant challenge I faced thus far is trusting technology. Google Earth, GIS, Instead of going to look at the property myself. My wife says I have control issues, but she never says what I want her to say anyways. Deep down, I know that I’ll never be able to scale this business if I don’t learn to trust Google Earth and my data-“

Steven Butala:                   Yeah, you’re wife’s right-

Jill DeWit:                            “Besides the insane ROI potential in this deal is I didn’t go to look at the properties even though they’re less than an hour from my house.” I love it. I love his wife too, this is great. “Perhaps my experience-

Steven Butala:                   No, no-

Jill DeWit:                            “Perhaps som...