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Has Your Real Estate Agent Been Around the Block (LA 1705)

Transcript:

Steven Jack Butala:Steve and Jill here.

Jill K DeWit:Hello.

Steven Jack Butala:Welcome to the Land Academy Show?

Jill K DeWit:House Academy show.

Steven Jack Butala:Oh, sorry. House Academy Show.

Jill K DeWit:That's okay. That's why you have me.

Steven Jack Butala:Entertaining real estate investment talk. I'm Steven Jack Butala.

Jill K DeWit:And I'm Jill DeWit, broadcasting from the valley of the sun.

Steven Jack Butala:Today, Jill and I talk about, has your real estate agent been around the block? Do they have experience? Do they have experience in land? Have they ever done a deal?

Jill K DeWit:It's houses. We're going to talk about everything.

Steven Jack Butala:Well, yeah, we're going to talk about everything. Have they done more than 10 deals in the last month?

Jill K DeWit:Mm-hmm (affirmative). Or a year? Seriously, even 10 deals a year analysis, I'll take that. We'll talk more.

Steven Jack Butala:Not me. Before we get into it, let's take a question posted by one of our members on thelandinvestors.com online community. It's free. Don't forget to subscribe on the Land Academy YouTube channel and comment on the shows you like.

Jill K DeWit:Dan wrote, "Okay. I sent a mailer to a few counties in Maine a while back. I may not do that again because it's a literal checkerboard of what shows up in NeighborScoop and what doesn't, and there are tons of decommissioned roads that make it look like there's access, but not anymore. Anyways, I picked up a 13-acre wooded property on a county road with mobiles on adjacent parcels. It has a gas pipeline running across it and I figured I could sell it for around $20,000, no problem. Got it for seven. Fantastic, right? I called a local broker and she said with the current market and demand, she would have zero problems selling it for $52,000. We'll see how it goes, but that would definitely make it worth the headache, with headaches with the area."

Jill K DeWit:Isn't that great? I'm with you, Dan. Well, a couple things. Number one, wow, how I love it when that happens. You're like, "I don't even realize what I bought," and you're like, "Woohoo, home run," and two, you're like, "Now I'm eating my words. I don't care if I got this one deal out of that whole mailer that paid for it."

Steven Jack Butala:Yeah. Sure.

Jill K DeWit:All the struggle, all the aggravation, that's just fine.

Steven Jack Butala:$40,000 that.

Jill K DeWit:Yeah, I'm totally cool with that, and that's the right attitude. We've had that sometimes. We've had states or different things that were like, "Oh, I didn't realize." And now you know too, you need to add that to your list of your due diligence when you're picking an area, make sure it's in NeighborScoop. That's the little things you don't know until you're into it sometimes, like, "Oh, I can't find anything," or, "Shoot, good luck getting the county on the phone because they're only open two days a week from noon to 2:00," or something crazy like that. Or the county's not computerized. This is even really hard kind of thing. They don't even know where the properties are. That still goes on, by the way. So, good job.

Steven Jack Butala:Yeah. Well, this happens a lot. You know, people send out their first mailer, they get a little antsy, like, "Oh my gosh, is this going to work?" Honestly, I get a little antsy every single time to the day. I'm concerned if the mailer works, and it always does. All it takes is one deal to cover all the costs of the whole thing, so congratulations.

Jill K DeWit:You know what too, Dan? Some people would say, "Oh, it was a fail."

Steven Jack Butala:Yeah.

Jill K DeWit:This is the right attitude. I want everyone to hear, too. This is not a failed mailer. Some people would say, "I only got one deal and I made $40,000. It failed." Please listen to yourself.

Steven Jack Butala:Well, I'd go back. I'd send it out again.