Jack Thursday - Land Academy Member Avatar (LA 1811)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill DeWit:

Cheers.

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, broadcasting from sunny Southern California.

Steven Jack Butala:

Today's Jack Thursday and I'm going to talk about the Land Academy member avatar. Who's the typical person who joins this group? Where do they come from? What's their background? This topic came from a recent conversation that I had with somebody, who with very serious authority, believed that they knew who my customer was to which I really laughed pretty hard in their face. I'll explain the whole thing.

Jill DeWit:

Okay.

Steven Jack 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 DeWit:

Do you want my water? You just a little tickle in your throat.

Steven Jack Butala:

No, I'm good.

Jill DeWit:

Okay.

Steven Jack Butala:

And please, don't forget to subscribe on the Land Academy YouTube channel and comment on the shows you like.

Jill DeWit:

I was just being nice. Derek wrote, "Hello, everyone. I'm very new here and not really computer savvy, but willing to learn to make this my career. I have reviewed Land Academy 3.0 and 1.0, and when trying to pull the zip code data from Redfin or Realtor, I'm not getting all the data I need for the red, yellow, green test. Does anyone have an alternative to those two to pull the data? For better clarity, when I'm on Realtor, I was only able to find one zip code that I needed. And when I was on Redfin, I found all three zip codes, but not much data attached."

Steven Jack Butala:

This is a very good question, as a new person, and I'm sure you're going to do great. And it's a very logical question. Here's the thing, not all counties are equal. And so every county and parish, I think there's 1,344 in the entire country, or is it 3,144?

Jill DeWit:

3,144. Roughly. Yeah.

Steven Jack Butala:

Have a way of doing things. And they're not all the same. They all have an assessor. They all have an assessor who collects data.

Jill DeWit:

Who's a real person.

Steven Jack Butala:

Who's a person who collects data on each one of the properties. This is a finite number of properties in their county. And they report that data to companies like data aggregators, like data tree. And that's it. So there's a finite amount of data. You have access to it. It's probably 99.8% of the counties contribute to data trees. So there's a ton of data in there. The universe of it is about 150 million records. There's 150 million properties in the entire country. It's not this big huge number. It's not a universe or an infinity. It's a finite number.

And so when doing the red, green, yellow test, what you're looking for is properties that have been sold recently or properties that are for sale, or however you choose to see that. We choose to look at both.

And very often a county that you may be interested in selling property and buying and selling land in just doesn't have any data. It's so rural that there's no sales comparison values and nothing's for sale.

Jill DeWit:

[inaudible 00:03:08].

Steven Jack Butala:

Or there's three or four. And so, as you can imagine, people who collect data for a living in real estate and aggregate it are really, really interested in reselling that data for profit and the more urban the area, the more people are interested in buying the data or using the data for all kinds of reasons, contracting reasons, you name it. How we use it, oil and gas, all of that. So the rural counties, which are places we love to buy land, at times get overlooked.

So you have a couple choices here, Derek, and boy, I'll tell you, there's about 50 people in discord that answered you.

Jill DeWit:

Oh, good. That's so good.

Steven Jack Butala:

And so you already have the answer,