Feels Like 2010 All Over Again (LA 1054)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Good day.

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

Jill DeWit:                            And I'm Jill Dewitt, broadcasting from sunny southern California.

Steven Butala:                   Today, Jill and I talk about how it feels like 2010 all over again.

Jill DeWit:                            I can't wait to explain what's going on and how ... I got to tell you, it makes me so happy.

Steven Butala:                   Give us a little insight about what the show is, Jill.

Jill DeWit:                            Okay. Basically, we are hiring and building and growing, I should say, our land investment team. And to do that, it involves you and I getting pretty active in it again and showing our staff ... This is what we do for Land Academy ... but showing our staff, "Here's how we do it. How we get the deals done. How the call should go." And by doing that, we're showing up at the office every day and doing the work right there with them.

Steven Butala:                   Exactly.

Jill DeWit:                            And I forgot how much fun this is.

Steven Butala:                   Me, too.

Jill DeWit:                            And I'm sitting there scratching my head, and I'm sure all of our staff is like, "Holy cow, these guys are good." So I know we'll [crosstalk 00:01:06]

Steven Butala:                   Oh, I'm sure they're not saying that at all.

Jill DeWit:                            You don't think-

Steven Butala:                   I think they're saying, "The owners are in the office again, so that takes all the fun out of it for me."

Jill DeWit:                            Well, the point is we know what we're doing, and we'll share more.

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

Jill DeWit:                            Leonard asks, "Hey, everyone. I sent out my first couple of mailers. I plan to soon have a couple parcels of land with an acquisition price of roughly $6,000 per property. I plan on closing with title. Question one, how much of a marketing budget should I estimate for the different purchase prices? The sales prices will likely be between 14,000 and $19,000. Would this justify listing on the MLS?" You want to answer that first?

Steven Butala:                   Yes.

Jill DeWit:                            Okay, let's-

Steven Butala:                   Your marketing budget is a variable cost. That's the good news. It's not a fixed cost. So you can plan on simply spending your cost for the MLS. And potentially, because agents are constantly in the MLS, you might have to pay 3% on the buy side, so that's what I would budget. Everywhere else should be just about free. I'll tell you right now ... Because I posted this question and read it before you did.

Jill DeWit:                            Mm-hmm (affirmative).

Steven Butala:                   Get your Facebook up and running and your Facebook groups going. We sell a lot of property in Facebook groups.

Jill DeWit:                            Exactly.

Steven Butala:                   So go ahead, Jill.

Jill DeWit:                            That purchase price, depending on the area, even if you just put one of your properties in the MLS, say that you have several in the area, it'll drive them to your website, and you'll get your point across if you have a couple.

Steven Butala:                   Yeah.

Jill DeWit:                            And you can do these flat late listings anywhere from ... It's typically $95 to $295 is what it's going to cost.

Steven Butala:                   Or in the high end, maybe four.

Jill DeWit:                            So depending on the area.