First Property Home Run - Current Member Example

Jack Butala: First Property Home Run - Current Member Example. Every Single month we give away a property for free. It's super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening.

Jack Butala: Jack Butala with Jill DeWit, welcome to our show.

Jill DeWit: Hi.

Jack Butala: In this episode, Jill and I talk about first property home run with a current member example, like a real example. Jill, great show today. Before we get started, let's take a question posted by one of our members on SuccessPlant.com, our free online community.

Jill DeWit: Cool, all right. Jared wrote, "So I found a county, low population, vacation destination in the state, good access, but it has high prices on land and only two properties are for sale on the tax sale list. Is this one I should run from?"

Jack Butala: This is a great question, and I'm really glad that he asked it. In the cash flow from land education program we talk about how to choose a county to work in. It's a suggestion that I make based on some pretty serious experience and some positive outcomes. That being said, we have a ton of members who don't listen to that advice and they go buy different product types, and it works. It's a testament, I think, to the whole you send a bunch of offers out in the mail and have them come back, some of them come back signed. No, I would not run from this at all Jared. I would test it a little bit. Just throw out, I don't know, a thousand letters and see what comes back.

There's a three or four point process we talk about in the program where you look for low density population using census maps, you look for access. I always go to a site like etaxsales.com. If you don't have a subscription, you get one if you're a member in our program. Just check to see how many back tax properties are in the whole county. We don't advocate sending mail out to back tax property only, but I do use it as a gauge to whether or not we're going to have a pretty successful offer session in the mail. I think what's concerning him is there's only two properties on the tax sale list, and I wouldn't be concerned about that at all.

What I would really check before I spend some money on a mailer is if properties are being sold on land watch, or land and farm, or any of those sites in that county, and for how much they're being sold. If they're all being sold for 15 to 20, to $50,000 an acre, then I would probably bag the project and move on. There's a three or four point test that we go through, and it's got to have, I don't know Jill what, like two, maybe three of the, it's got to test positive, like for 75% of it, and then if you really want to make it work and properties are way more expensive in that county, then you could send offers out, but they're going to be higher priced offers, but lower than what it's worth. Does that answer it, or is that convoluted and complicated Jill?

Jill DeWit: No, that was great.

Jack Butala: If you have a question, or you want to be on the show, call 800-725-8816. Today's topic, first property home run current member example. This is the meat of the show.

Jill DeWit: Mm-hmm (affirmative).

Jack Butala: What do you think?

Jill DeWit: This is a call that you had. Isn't this a deal review call?

Jack Butala: Yeah.

Jill DeWit: Okay, good.

Jack Butala: Quite some time ago, Jill and I set up this thing called deal review where members have, if they have a bunch of properties or one property, and they kind of want to ask me or Jill, or both of us, get us onto Skype and say, "Should I do this deal or not?" It's worked out. It's saved a lot of people a lot of time and money and aggravation. Most of the time we say yes, because by the time it gets to us, they've done everything right. The people who use deal review,