How to Buy Land the Right and Wrong Way (LA 1865)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill DeWit:

Hi.

Steven Jack Butala:

Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.

Jill DeWit:

And I'm Jill DeWit, coming to you from the coolest city right now, I think, where we are sitting in just north of Detroit. I'm having a ball.

Steven Jack Butala:

Me too.

Jill DeWit:

This has been so much fun.

Steven Jack Butala:

Absolute opposite of what I thought was going to happen.

Jill DeWit:

Let me tell you what I accidentally did, and then we'll start this show. I didn't realize until the other day that I've accidentally put you back in 1980... fill in the blank. So 1985 or four or something.

Steven Jack Butala:

Probably '83, but yes.

Jill DeWit:

'83. Okay. Here's what I've done. We are sitting in Steven's hometown having multiple fun evenings of dinner and shenanigans with all is high school buddies driving around in a version of his original high school Jeep. The only thing that's different is the color. Yours was red, this is silver. This is cracking me up.

Steven Jack Butala:

We're having a blast.

Jill DeWit:

And then I wonder, why is he behaving like a 17 year old? Gee. So you have to think about that one.

Steven Jack Butala:

You know what the difference is, you. It's because you're here. We're having a blast.

Jill DeWit:

Oh, I'm keeping the wheels on the bus.

Steven Jack Butala:

Yes.

Jill DeWit:

Here we go. Well, thanks for that.

Steven Jack Butala:

Today Jill and I talk about the right way to buy land and the wrong way. The root of this episode came from several conversations that Jill's been having with people who are being interviewed for-

Jill DeWit:

Interviewing us.

Steven Jack Butala:

... for Career Path.

Jill DeWit:

Well, yeah, and even people that are thinking about coming to Land Academy and learning what they're doing. It's interesting. And then all it does is make me say, "Oh, you're going to love this, and I'll tell you more in a minute."

Steven Jack Butala:

Before we get into it, let's take a question posted by one of our investors on a land...

Jill DeWit:

How you doing there?

Steven Jack Butala:

How many times have I said this?

Jill DeWit:

I know.

Steven Jack Butala:

I can't say it right. One of our members on the Land Investors online community, it's free. Last year a ton of Land Academy members came to Jill and I needing extra help to get their offer campaigns in the mail, so we decided to launch a product called Concierge Data using the exact same employees that we've been using to do our mailers. It's called Concierge Data. They'll help you get your campaign in the mail. Whether you've done a hundred campaigns or zero, we're all set up for it. Take a look at offers2owners.com and give them a shout.

Jill DeWit:

Cool. All right. Aaron wrote, "I've got a $17,000 cash offer, no contingencies, nine day close, along with proof that this guy has $35,000 in his bank account last week for a five acre property on an Indian reservation, which also happens to be near some pretty nice non-reservation lakes. The same five acres not on the reservation would be worth $40,000. This one's a $17,000 offer.

"I get an email that the buyer's asking me to sign a cancellation agreement because he found out through one of the neighbors that one of the other neighbors is a drug dealer. Are they actually a drug dealer? Who knows? Maybe. The first neighbor just might not want someone to buy the property, which is true.

"Would you, A, sign it and elicit ASAP, B, spend $100 to get an attorney to write them a letter explaining how I agreed to buy it, but that I'll let them off the hook, but I'm keeping $1,000 earnest money, three, engage my small town attorney and try to make him buy it or, D, something else? My inclination is number one, A, but it pisses me off how this has happened. Plus now everyone's going to wonder why it went back on the market."