Jack's Top Land Investor Tips  (CFFL 421)

Jack Butala:                       Jack [inaudible 00:00:00] with Jill DeWit.

Jill DeWit:                           Hi.

Jack Butala:                       Welcome to our show today. On this episode, Jill and I talk about Jack's top land investor tips.

Jack is me.

Before we get into it, let's take a question posted by one of our members on the landacademy.com online community, it's free.

Jill DeWit:                           Okay. Stacy asks, "Buying land from the MLS is no longer feasible in my area. I know you guys send offers out to owners and hope for the best. What happens when this is no longer working for you? What then?"

That's hilarious. I don't think it's gonna end, but okay.

Jack Butala:                       Oh my gosh, so, I guess we agree on this, so.

Jill DeWit:                           Totally.

Jack Butala:                       I don't think it's gonna ... 148 million properties out there, in this country, anyway.

Jill DeWit:                           Mm-hmm (affirmative).

Jack Butala:                       And Real Quest is constantly working on different ways in different countries to create world-class data like they have in the US here, so.

Jill DeWit:                           Mm-hmm (affirmative).

Jack Butala:                       I'm not sure that sending offers out to owners is ever really gonna go out of style, do you think, Jill?

Jill DeWit:                           Only if the mail stops. Then we'll have another workaround. So it's like, that won't happen anyway.

What I have a funny comment, though, too, is, I love how she says, "the MLS is not working" in her area. I don't think the MLS is working in most areas.

Jack Butala:                       Thank you.

Jill DeWit:                           So.

Jack Butala:                       When did it work? When is it ... the MLS really ever work?

Jill DeWit:                           It back when when there were no other options, I'm sure.

Jack Butala:                       Yeah.

Jill DeWit:                           You know, you had no other way to find, you know. But even then, you could've been mailing letters and offers.

Jack Butala:                       I think so too, Jill.

Jill DeWit:                           We just didn't have that data that we have today.

Jack Butala:                       Right.

Jill DeWit:                           And the way to sort it, and scrub it, and really fine-tune it to exactly what we want. You know, I coulda, twenty years ago, sprayed the neighborhood, like Luke says, or you say, you know.

Jack Butala:                       It conjures up such a funny image, spraying the neighborhood.

Jill DeWit:                           Exactly. I coulda sprayed the whole neighborhood and seen what comes back, but, you know nowadays we can get real specific.

Jack Butala:                       Member we used to have that slogan, that saying, called, "get there first"?

Jill DeWit:                           Yeah.

Jack Butala:                       So with the MLS, somebody else got there before you. As an investor, a realtor got there first. They started talking to the owner first, and convinced them that they're property is probably worth more than news. Or God knows what they convinced them of.

Jill DeWit:                           Do you know what's funny? I am positive that right now today, there are tons of people that have alerts on their phones and their computers that every time a listing pops in the MLS, they get a notice, cause they want to try to jump on it. And you and I know that, that's not how you should be doing it.

Jack Butala:                       I am honestly one of those people.

Jill DeWit:                           Why do you ... You just want to see it for pricing purposes, don't you?

Jack Butala:                       I do. So here's what I ...