How to Execute an Offer Campaign for Commercial Property (LA 1366)

Transcript:

Steven J Butala:

Steve and Jill here.

Jill K DeWit:

Hello.

Steven J Butala:

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

Jill K DeWit:

And I'm Jill DeWit broadcasting from sunny Southern California.

Steven J Butala:

Today, Jill and I talk about how to execute an offer campaign for commercial property. This came from a very robust and detailed request from one of our members. They asked Jill actually, and she shared it with me about, Hey, there's a commercial real estate crisis out there right now. How can we make some money off that? How do we send offers to, let's say, office building owners who haven't been paying their mortgage [inaudible 00:00:38] or not? To which I will explain.

Jill K DeWit:

This is for you, Dan.

Steven J Butala:

There's a dataset for all of this stuff. And the data just keeps getting better and better and better, and the opportunities are getting better and better. It's funny when you're reading the headlines, all this tragedy, my first reaction is, where there's tragedy, there's a lot of opportunity in real estate.

Jill K DeWit:

That's true.

Steven J Butala:

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.

Jill K DeWit:

I was going to say, I just paused to think about that. It's probably stock market, too.

Steven J Butala:

Yeah.

Jill K DeWit:

People don't realize you can make money on the way down and the way up. Sometimes more money on the way down than you can make on the way up.

Steven J Butala:

Yeah.

Jill K DeWit:

It's very interesting. So yep. Okay. Larry wrote, "Good afternoon, all. What tool or tools do you use for looking at days on market? Any insights and tips for someone new to this would be greatly appreciated."

Steven J Butala:

You know, Jill, I saw that you actually personally responded to this question on land investors.

Jill K DeWit:

I did.

Steven J Butala:

So, tell us where you get DOM.

Jill K DeWit:

I copied you.

Steven J Butala:

No. No, you didn't.

Jill K DeWit:

From the Redfin, Redfin data center. And I think I put the link in there for him, so he can go look. And I did say spend some time in here. You could pick large MSA. You can drill down by zip code. There's many ways you can do it. You can track it. I know that. that's the thing too. You want to know the days on market are good in an area, but you also want to see that they're getting better in that area. You want to see them going lower and lower and lower, not higher and higher and higher kind of thing so ...

Steven J Butala:

For years and years and centuries and centuries and decades, we've all been working, or I have at least, under the guise of real estate speculation, which just cracked me up because about 10 years ago, let's say 2009, 2010-ish, all this data started coming out, these websites like realtor.com and redfin.com. And then about 10 years earlier, not necessarily for the real estate industry, but for oil and gas and insurance and stuff, companies like CoreLogic started popping up, where they were aggregating all this data that was out there that was public. CoreLogic started as a way to aggregate the assessor's tax rolls, the treasurer and assessor's tax rules for each County. And it was real valuable for insurance companies. And eventually, it found its way to people like us, who are real estate investors. And it took the speculation out of this.

Well, because it's been around for so long, there are many, many people. And because of channels like HGTV, speculation is still out there as, yeah, well, yeah, if you're going to buy and sell real estate, you're going to have to go take this big risk and take this chance. Let's go buy this house, see if we can renovate it, see what's behind those walls. Let's break into the walls and find the mold and solve it. And, Oh,