Finance Friday with Steven, Jill & Justin (LA 943)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

Steven Butala:                   With guest, Justin Sliva. Welcome to The Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.

Jill DeWit:                            And I'm Jill DeWit broadcasting from sunny Southern California.

Steven Butala:                   Today, Jill and I talk with guest, Justin Sliva, about the transactions that we're funding and completing this week.

Jill DeWit:                            Exactly.

Steven Butala:                   Welcome, Justin.

Justin Sliva:                         Hey, how's it going?

Steven Butala:                   This is like show 13 or 12, or 13 so, so we've got to [crosstalk 00:00:24]-

Justin Sliva:                         Yeah.

Steven Butala:                   Guests. It's a little bit more permanent than that.

Justin Sliva:                         You did talk to your script writer.

Jill DeWit:                            Exactly.

Steven Butala:                   Yep, that's ... yeah, sure. Before we get into it, let's take a question posted by one of our members on the LandInvestors.com online community. It's free. Jermaine ... oh, sorry Jill. Go ahead. I'm slowly taking over.

Jill DeWit:                            Are you okay?

Steven Butala:                   Yeah.

Jill DeWit:                            How much coffee did you have today?

Steven Butala:                   I only had like two cups. Maybe that's the problem.

Jill DeWit:                            Oh, there we go. Okay, I've got three things: white [inaudible 00:00:55] ... wait, MTV, coffee, we'll get into all that.

Steven Butala:                   Yeah.

Justin Sliva:                         This is going to be therapy session today.

Jill DeWit:                            It is. Oh, [inaudible 00:01:03].

Steven Butala:                   Let's talk about the 80s and 90s, I can tell.

Jill DeWit:                            Okay. Jermaine asks, "Has anyone sold their land business? If so, please describe the experience." I am curious.

Steven Butala:                   We alluded to this ... we danced around this yesterday, but I put this in here intentionally because I'd like to hear what Justin has to say about that. Because I know you're all exit strategy driven like we are.

Justin Sliva:                         Yeah, I mean you put together the business and the LLC and you could sell the LLC as an entity, and everything that's attached to it, all the assets, with it. So it's pretty straightforward, if everything's all together which one of the problems is if you have stuff in your personal name, stuff in your not LLC name, or other LLCs and you don't have it tied together in one family. I mean, I have never done it, so I just assumed that's how it would be done though.

Steven Butala:                   I mean, I've bought and sold a lot of companies-

Justin Sliva:                         Okay.

Steven Butala:                   And I really think what he's asking here, and what I'm interesting in getting to the bottom of, is is this attractive to a potential buyer where you've got a bunch of 40 acre properties somewhere, you've got a website up, you've got inbound traffic, you sold some property, you're buying some property, you're all in the process. You obviously figured out whatever CRM you're using, or whatever version of all that is all put together. Is it sellable or marketable? And is it too tied to our faces?

Jill DeWit:                            That's what ... I don't think it's-

Steven Butala:                   Is it too much tied to, "Oh yeah, only dealing with people who can run their businesses are Steve and Jill."

Jill DeWit:                            Well that would be my fear. I would think that it would be a problem.

Justin Sliva:                         Yeah.