Deals We are Doing This Week (CFFL 439)

Jack Butala:                       Jack Butala, Jill DeWit.

Jill DeWit:                           Hi.

Jack Butala:                       Welcome to our show today and in this episode, Jill and I talk about the deals we're doing this week, and it's a lot. It's more than 200 deals, I looked at it just a few minutes ago. Before we get into it though let's take a question posted by one of our members on the Land Investors online community. It's free.

Jill DeWit:                           Cool! Alright, Trevor ... This is actually good.

Jack Butala:                       Trevor is just ... he's ... you should be a comedian.

Jill DeWit:                           This is actually a story more than a question and I just had to put it in here because I was rolling when I saw this. Alright, here's what he wrote.

"Well, I was buying five acres in Arizona this Saturday, the only time the owner could met the notary was 8:00 p.m., California time. I got a call from the notary in a panic, she said that the owner had just got another offer for $250 more than I offered. Damn old lady shook me down.

Jack Butala:                       (laughs)

Jill DeWit:                           I was gonna call her bluff but with enough already in with the notary, etc. I asked if she was actually gonna uphold her end of the transaction and she flat out told me $250 is $250. All I could think of was a "Dumb and Dumber" quote about getting ripped off by an old lady in a motorized cart but I didn't.

So the notary went and got her own $250.

Jack Butala:                       Oh my gosh, wow, that's California.

Jill DeWit:                           Talk about nice, and gave it to the renegotiating mean lady and now I have to send her another payment.

Jack Butala:                       (laughs)

Jill DeWit:                           So the funny thing is this was from my first mailer and she had called me multiple times to sell it. Now she was laughing at her good luck. Yeah, real estate. Hope everyone can laugh at this and realize that it is all okay. You're going to have some crazy stuff come up. Welcome to business. It is still much better than having a bank back out on you on a large apartment deal. Been there and done that.

Jack Butala:                       Boy, you said it. If you remove the lender from all of this, you're way, way ahead of the game. So here's the deal. I'm gonna up the story. Jill and I sold a bunch of properties, like a 1000 properties to a guy who used to be on our A list. And we negotiated the deal and it went to title, the whole thing. And five minutes before it was supposed to close -

Jill DeWit:                           Like wiring money -

Jack Butala:                       I get an email from the guy with a number in it. So we agreed to sell a property for five hundred dollars a property ... a 1000 properties, a half million bucks, and I get an email that says 400. So needless to say, I was not a lot of fun to be around when that happened. And I blew my top and the guy, I'm not even on speaking terms with the guy anymore. We did end up closing the deal and he got his way that time.

Jill DeWit:                           That's the last time you do anything with him.

Jack Butala:                       I don't do business that way and he's lost ... He's contacted me a hundred times after that trying to buy more property and I refuse to sell him ... I refuse to take his call. I don't do stuff that way.

Jill DeWit:                           You know, that brings up a good point -

Jack Butala:                       If there's a reason, you know if there's a reason like, jeez, you know, I just don't think .. just be ... Your word really matters. This is not ... this is a small town, this land investment community we're in. It's probably a couple thousand, maybe two, three thousand people in the country that really know what they're doing,...