How to Complete a Land Acquisition with a Mobile Home on it (LA 1540)

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 am Jill DeWit, broadcasting from sunny Scottsdale, Arizona.

Steven Butala:

Hot.

Jill DeWit:

Yeah.

Steven Butala:

100 degrees, Scottsdale, Arizona.

Jill DeWit:

I'm sorry, I meant to say scorching Scottsdale.

Steven Butala:

Today Jill and I talk about how to complete a land acquisition with a mobile home on it. Or do you even want to do that?

Jill DeWit:

That's a bad thing. Uh-oh, I only wanted land. Shoot. I almost said a bad word. Shoot. There's something on it. Is that bad? Hold on, everyone. This is good. This is great. It's great.

Steven Butala:

Here's a spoiler. Mobile homes rock.

Jill DeWit:

Yep.

Steven Butala:

And they're easy deals to do. We'll talk all about it. Before we get into it, let's take a question posted by one of our members on the landinvestors.com online community. It's free and if you're already a Land Academy member, join us on Discord. Mean it.

Jill DeWit:

And Clubhouse. Okay.

Steven Butala:

Well, you might as well. You brought it up. When's your Clubhouse show?

Jill DeWit:

Every Thursday. Well, you're joining me now.

Steven Butala:

I know.

Jill DeWit:

You're a guest.

Steven Butala:

I got drug into this.

Jill DeWit:

He did, but you like it.

Steven Butala:

It's another thing on my calendar now, permanently.

Jill DeWit:

He likes it. Hey Mikey, he likes it. So, yes-

Steven Butala:

Every Thursday when?

Jill DeWit:

Every Thursday at one o'clock Pacific time. Come find me. Search me, find me, follow me on Clubhouse. In addition to that, join the land investing group and you will get notified whenever I schedule something and whenever we go live.

Steven Butala:

So there's a land investing-

Jill DeWit:

Club.

Steven Butala:

Clubhouse thing?

Jill DeWit:

There's a Clubhouse, like a separate group.

Steven Butala:

Do we run that?

Jill DeWit:

It's mine.

Steven Butala:

Oh, outstanding, Jill.

Jill DeWit:

It's all mine, man. Mm-hmm (affirmative).

Steven Butala:

Excellent.

Jill DeWit:

Exactly.

Steven Butala:

I love to not know what's happening in my own company.

Jill DeWit:

That great? You're welcome. And that's the truth. That's what's so funny. So, he's being sarcastic? Nope. Likes it this way. Every time we do a live event and he's like, "Just tell me where to stand."

Steven Butala:

I'll write it and show up.

Jill DeWit:

Sure, just like, "I don't want to do anything else."

Steven Butala:

That's basically my whole responsibility now.

Jill DeWit:

Exactly. Okay. Evan wrote, "I'm looking to purchase a parcel with a mobile home on it. The mobile's considered personal property with its own title. The owner wants to sell me the land and the mobile. How should I specify that the offer is for both the land and the mobile? Should I just add a line item to my purchase agreement?" That works.

Steven Butala:

Evan, we're going to answer this during the show here. Today's topic, how to complete a land acquisition with a mobile home on it. This is the meat of the show. There's a deed for the property and a title at the DMV. There's two separate components to this thing. The short answer is, and everybody loves this answer, me included, title company will work it out for you. If they don't know how to do it, find another title company or another title agent in that company. These are real simple transactions. You never want to buy a mobile home property with a mobile on it and then not buy the mobile home.

Jill DeWit:

Correct.

Steven Butala:

It's almost always more... Not almost always. It's frequently more expensive to move the damn thing than it is to just leave it there and sell it with it. Here's why. Somebody put probably a septic tank in or septic field-

Jill DeWit:

Maybe a pad.

Steven Butala:

Septic systems.

Jill DeWit: