Transcript:Steven Jack Butala:Rolling video. Three, two...Jack and Jill here.Jill K DeWit:Hi.Steven Jack Butala:Welcome to the Land Academy Show, entertaining land investment talk. I'm Stephen Jack Butala.Jill K DeWit:And I'm Jill DeWit, broadcasting from awesome, awesome Texas. I love it here.Steven Jack Butala:Today's Jack Thursday, and I'm going to talk about the phrase, "To what end?" Before we get into it, let's take a question posted by one of our members, landinvestors.com, online community. It's free. Please don't forget to subscribe on the Land Academy YouTube channel, and comment on the shows you like.Jill K DeWit:I'm not laughing at you, I'm laughing with you.Steven Jack Butala:Yeah, we all know that's not true. Okay. And to what end?Jill K DeWit:Okay. Yeah, I was laughing at you. So, truth time. Okay. Anyway, Eric wrote, "While trolling my areas in Zillow, I came across a for sale by owner asking $34,500 for 2.57 acres, with some nice road frontage, in a very rural county in South Carolina. It's been sitting for 64 plus days, so I know that it's overpriced. Sold comps in that zip code have gone for 13 to $14,000 an acre, so I offered him 40% of what he's asking. So, 13,800 bucks. If he doesn't curse me out, does this look like a good deal to you? Ever have any luck with for sale by owners that have been listed for a while?" I don't like these.Steven Jack Butala:So, I can wrap this up quickly.Jill K DeWit:Please do.Steven Jack Butala:I really hope that he doesn't accept your offer.Jill K DeWit:Right.Steven Jack Butala:Because I don't want you to think that this is possible all the time. I don't want you to pull the handle on a slot machine and win the first time and then spend the rest of your life trying, chasing something that probably shouldn't have never happened.What I want you to do is form great habits that you can habitually and consistently regenerate, that are recurring for you and get independently wealthy quickly. No one's going to get independently wealthy by offering property that's already been posted for sale, whether it's for sale by owner or with real estate agents.Jill K DeWit:I agree.Steven Jack Butala:Unless you can magically send out 5,000 offers through real estate agents simultaneously, the way that we do with the mail. And even then, I don't think that that's going to work because it's just a whole different situation.Jill K DeWit:Somebody got there first. There's two things with the Asian thing. Somebody got there first, number one. Number two, it's just a bad feeling for me. If it's been out there for that many days and that many people looked it over, I would assume that somebody might have already picked up the phone and said, "I like your property. What's the lowest you take?" And he passed on it.Steven Jack Butala:And so, what are you going to do if you get it for 13,000? Re-list it for the same number? And it still didn't sell.Jill K DeWit:And now it's going to look really weird.Steven Jack Butala:Yeah.Jill K DeWit:So, think about this too. So, it's listed for sale. We all see listed, posted, de-listed, pulled down, and then when you repost it on Zillow, now it's going to see it didn't sell. And now your price, what are you going to do? Put it at 58,000? They're going to go, "I think there's a problem here."And by the way, what if it's all... What if it gets updated on there showing that you bought it for 13,000?Steven Jack Butala:I think it will.Jill K DeWit:It shows, listed at 64. It didn't sell. Sold $13,800. Re-list for 55. Okay, I'm not going to jump on that. I like the way we do it. No one sees anything until it's-Steven Jack Butala:We used to say this a lot, and we haven't said it a lot in a very long time. Get there first.Jill K DeWit:Yep.Steven Jack Butala:You need to get to a real estate transaction first. This person already... They're already in a seller's mindset. They already have done some thinking about the number that's for sale. They decided they want to sell it.