How to Use Real Estate Inside Information

Transcript: 

Jack Butala:                         Jack, Jill here.

Jill DeWit:                            Hi, everyone.

Jack Butala:                         Welcome to the Jack Jill Show, it's here that we provide entertaining real estate investment advice on a good day anyway. I'm Jack Butala.

Jill DeWit:                            And I'm Jill DeWit broadcasting from sunny southern California.

Jack Butala:                         Today, Jill and I talk about how to use real estate, air quotes, inside information.

Jill DeWit:                            Who uses the air quotes thing?

Jack Butala:                         I guess I just did on the radio.

Jill DeWit:                            Is that really a thing because I'm missing it. Are you on the inside track and I'm not? Like this show? Just kidding.

Jack Butala:                         No, I think that I ... If anybody's missing it, it's me.

Jill DeWit:                            Oh, meaning that was a year ago and something? I don't know.

Jack Butala:                         You know how ... Yeah, it was a year ago.

Jill DeWit:                            Oh, okay. I got it.

Jack Butala:                         Or maybe a decade or two ago. Probably that.

Jill DeWit:                            He read it somewhere. Let me guess. Let me guess, Warren Buffett's using it?

Jack Butala:                         Oh right! Well, if Warren Buffett's using it, I would use it no matter how silly it looks.

Jill DeWit:                            So it's got to be. Right. How old it looks or how weird it looks? I got you.

Jack Butala:                         He's too smart to do something silly like that.

Jill DeWit:                            I know, I think he's really cool. That's somebody I'd like to meet. If I ... You know what? There's a few people that you're like, "I'd pay to go to that dinner," or whatever it is and I don't have very many people that I really would, but if Warren Buffett were there I'm like, "You know what? I'd show up to that event. I would like to meet him and shake his hand."

Jack Butala:                         I don't think that's unrealistic. I think he gives talks all the time.

Jill DeWit:                            Seriously?

Jack Butala:                         Yeah, they're usually political fundraisers and stuff, but yeah.

Jill DeWit:                            Oh, I did not know that. That's cool. Thank you for that information. Air quote. "Thank you, air quote."

Jack Butala:                         Puts a visual down, doesn't it?

Jill DeWit:                            Yes, it does.

Jack Butala:                         For better, for worse.

Jill DeWit:                            Yes.

Jack Butala:                         Before we get into our actual topic, let's take a question posted by one of our members on the jackjill.com online community. It's free.

Jill DeWit:                            Okay, Eric M. writes, "Hello, all. I came across some great market slash area info recently that is available in a spreadsheet." Oh! "I hope this helps others. Thanks to all for their help and contributions. It's realtor.com data inventory research."

Jack Butala:                         I think that ... I put this in here. I had the producer put it in here for two reasons. Number one, this is how helpful the JackJill online community is. This guy, Eric could have kept this stuff for himself and doesn't need to. My second point is, I use this all the time. There's two places that get fantastic free data driven information that's almost in real time. It's maybe 15 to 30 days off, but it's still unbelievable data based on the MLS. Realtor.com, if you Google realtor.com, data inventory, or just data ... Real estate, realtor.com data or redfin.com data, the amount of informations you can get on what is sold,