Finance Friday with Steven, Jill & Justin (LA 913)

Transcript:

Steven Butala:                   Steven, Justin, and Jill here. Welcome to the Land Academy Show. Entertaining land investment talk. I'm Steven Jack Butala with Justin [inaudible].

Jill Dewit:                             And Jill DeWit.

Steven Butala:                   Broadcasting from Southern, sunny California, and Dallas, Fort Worth, Texas today.

Justin and I, and Jill talk about finance Friday like we do every Friday.

Jill Dewit:                             Yay.

Justin:                                   Yay.

Steven Butala:                   Give us a quick fun highlight that makes people not want to turn off this podcast, Justin.

Justin:                                   Oh, man. 40 properties priced and checked in the last 48 hours.

Steven Butala:                   Wow.

Justin:                                   I mean, that's why you dial into this, right? Is to know that we have these deals going on and that we're all in it to win it. Man, I'm smoked right now. Smoked.

Steven Butala:                   Of the 40, how many are you ... how many you just love?

Justin:                                   I green lit for this morning. I have two packages of ten, so that's kind of misleading when I say, "Hey, there's 40 properties." But, two packages of ten, I'm still pricing them out. One of them I can't find [inaudible] anywhere for it. It's essentially ten lots from an old abs tractor in a mobile home park in Oklahoma. He wants $2,000 a piece for them. I just can't find if there's meat on the bone on those or not. Then another ten is from an oil company that ... it's in a $100, a $125 area acre per range, and they have ten properties there. They want $150 an acre, so I'm just going through and checking those.

Steven Butala:                   [crosstalk] All the deals I've ever done with big companies like that have turned out to be home runs for us.

Justin:                                   Yeah, they were reclaimed mineral act. Texas has a ... where you get rid of the mineralize estates  state essentially sells a surface to you and then you get a 50% bonus of the minerals if you hold onto the property, in case you do anything with them. One of the newer Land Academy members brought them. It was on his first [inaudible] mailed one candidate and said, "Hey, we'll go up a little bit on our price will take this, but we've got all these other properties and so we got those back, and he's like, "What do I do?" and I said, "we got to look at them.". That's why we're here, right.

Steven Butala:                   That's great.

Jill Dewit:                             Exactly.

Steven Butala:                   Hey, before we get in the actual show, let's take a question posted by one of our members on the landinvestors.com online community. It's free.

Jill Dewit:                             Bob ask, "How do you verify legal access for rural land? Do you just look at maps and see if a road goes to or through the property? Even if you see a road/trail how do you know if it has ... property has legal right to the road/trail? If there is no road/trail, I'm assuming there still could be legal access, but how would you know? Any help on this would be greatly appreciated."

Steven Butala:                   Go ahead, Justin.

Justin:                                   Okay. On that one, first thing is obviously look at Google Earth, good [inaudible] fact pulls up, you see there ... if there's a road, a named road tends to be a named road because it's recorded somewhere, and then from there you ask a question if there's a ... Could there be not a road and still access? Yes, it could be easement.