First Deal Should be a Huge Disaster Mess (LA 732)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hi.

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 your first deal, should look like a huge disaster mess. By the way, it is a … man I wish somebody woulda told me [inaudible 00:00:19].

Jill DeWit:                            It’s hilarious. Just give me a description of what this should have physically … if i have, if an image comes to my mind, should you see someone … I mean what should be happening? Paint the picture.

Steven Butala:                   I’m gonna ask you to describe your first deal, I’m gonna certainly describe my first deal in the meat of the show here.

Jill DeWit:                            Okay.

Steven Butala:                   It’s gonna make … I guarantee you this, it will make everyone …

Jill DeWit:                            Feel better?

Steven Butala:                   Yes.

Jill DeWit:                            Good.

Steven Butala:                   I mean yours … your deal probably smelled like roses and looked pretty.

Jill DeWit:                            I know, I’m trying to rethink back.

Steven Butala:                   But you had me helping you

Jill DeWit:                            I know, that’s …

Steven Butala:                   I’m sitting at a coffee table, sitting at a coffee table with a full time job all stressed out …

Jill DeWit:                            Mm-hmm (affirmative) [inaudible 00:00:59] what I just do.

Steven Butala:                   … in Ohio, trying to close an 80 acre deal in Arizona, and I’ve never done this before.

Jill DeWit:                            Right.

Steven Butala:                   I have a lot to say.

Jill DeWit:                            I know you do.

Steven Butala:                   I know, I snoop for you.

Jill DeWit:                            You usually do.

Steven Butala:                   Before we get into it, let’s take a question posted by one of our members. On thelandacademy.com online community, it’s free.

Jill DeWit:                            Okay. Milan asks “Long story short: I bought 40 acres a few months ago for 4,000 dollars. Did all my due diligence and all was good. Count and recorded it, and I was a proud owner. The land wasn’t selling. Thank God it wasn’t, that would have been a serious mess. Last week I received a letter from the law office telling me that my property will be auctioned at a certain date. I can pay the lien of 4,000 dollars, not too big of a deal. The point is, if I resold the property, that would seriously destroy my reputation selling property to clueless, excited buyer. I’m learning intensively how to check for liens now, what is your process? There are a lot of questions about liens in this forum but no one really answered it.”

                                                I do have one thing I would like to add first here, Steven.

Steven Butala:                   Yeah.

Jill DeWit:                            I don’t know how or where Milan is doing his due diligence because I know he doesn’t have the tools that we have.

Steven Butala:                   Oh, he’s not a member? Oh, Milan!

Jill DeWit:                            No, he’s not. He doesn’t have the title pro 24/7. He can’t pull a lien report like we all can in 30 second...