Funding Acquisitions (LA 789)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

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

Jill DeWit:                            And I'm Jill DeWit, broadcasting and hungry from Southern California.

Steven Butala:                   Are you hungry?

Jill DeWit:                            I am hungry.

Steven Butala:                   Today, Jill and I talk about funding and acquisitions all week, because it's acquisition week.

Jill DeWit:                            Yay.

Steven Butala:                   It all starts with solving-

Jill DeWit:                            Yay. Who doesn't love acquisitions? I love it.

Steven Butala:                   Funny, all acquisitions starts with why banks suck. Before we get into it, let's take a question from one of our members on the land investors online community stream.

Jill DeWit:                            I see it as a great fun thing and you see it as banks suck. How funny. This is why we balance each other out.

Steven Butala:                   There's nothing better than acquisitions.

Jill DeWit:                            Thank you. That's what I like.

Steven Butala:                   Land acquisitions are great. House acquisitions are fantastic. Functioning, income producing real estate is awesome.

Jill DeWit:                            Well, I think of it-

Steven Butala:                   Acquisition, acquiring companies is fantastic.

Jill DeWit:                            See, I think of an acquisition like a wedding. It's all exciting and fun and it's a big party.

Steven Butala:                   Yeah, me too.

Jill DeWit:                            If you plan for it, it's great. And we'll just leave it at that.

Steven Butala:                   I don't like ... nevermind. We'll get into it in a second.

Jill DeWit:                            Neal asks, at present, I'm working on a planned [inaudible 00:01:22] campaign where the average days on market are less than 20 days.

Steven Butala:                   Wow.

Jill DeWit:                            Yeah. Sadly, the number of [inaudible 00:01:29] lots are few and far between in Sartorius. No kidding. The ones most abundant tend to be on the outskirts of the target area where new development is under way and the lots are already owned by developers/builders. I had planned to mail such companies with a different offer letter that would still make an offer, just in case, but also hopefully open the door to an eventual relationship with them as a buyer.

Steven Butala:                   That's a great idea.

Jill DeWit:                            That said, I thought I'd solicit our humble little community for feedback and advice. So, please share your thoughts. Do you or would you bother mailing development companies when they pop into your data? Do you bother spending the time to research contacts et cetera?

Steven Butala:                   Yes.

Jill DeWit:                            Take care everyone. Great, great, great question. Love it.

Steven Butala:                   Yeah, there's lots of questions in there and the answer is I think, yes to every single one of them. I don't ... when I know that there's a developer in a really, really healthy community like that, where there's some older parts of the community and then there's newer ones, I don't send lots to every single APN, letters to every single APN.