Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

Steven 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 Butala:                   Today, Jill and I talk about the values in the land, not in the house.

Value is in the Land Not the House (LA 842)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

Steven 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 Butala:                   Today, Jill and I talk about the values in the land, not in the house.

Jill DeWit:                            Boy, are we qualified to talk about this.

Steven Butala:                   We really are.

Jill DeWit:                            Thank you.

Steven Butala:                   All this week, is cliches that are true in real estate week. And, you know, everybody's, if they really, truly answered this question. You're staring at a real estate agent, wondering why this piece of property is twice as much as all the other pieces of property around it.

Jill DeWit:                            Right.

Steven Butala:                   And they have these cute little sayings. Most of 'em are malarkey, but this week we're talking about five of them that I think actually have some merit. So, you're standing there looking at a house, it's pretty much falling down, it's twice as much as all the rest of the houses around there, and you say, "What the heck." Oh, he says, "The value's in the land, not in the house."

Jill DeWit:                            Yep.

Steven Butala:                   And that actually is true. And we'll talk about it, all the details why in a few minutes here. 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, and as you're listening to us please drop your questions in the comment section below.

Jill DeWit:                            Andy asks, "I just signed up for a free trial of Data Tree. The salesman ran through a demo and I like what I see. I think Steven has mentioned it will be included with House Academy. Just wondering if it will be included in Land Academy 2.0? If not, will there be a way to subscribe with a group discount? Thanks."

Steven Butala:                   That's a question for Jill.

Jill DeWit:                            I'm still working out the details, thanks.

Steven Butala:                   The answer's yes to both.

Jill DeWit:                            Hold, not so fast. Can I, House point O yes, but 2.0?

Steven Butala:                   House point 0?

Jill DeWit:                            House point 0?

Steven Butala:                   Like [inaudible 00:01:50] point 0.

Jill DeWit:                            House Academy yes, 2.0 automatically no. Am I working out something? Yes. So, is it coming right now? No. Is it valuable? Yes. Is it cheap? No. You like this?

Steven Butala:                   Yeah, I do actually.

Jill DeWit:                            So, are we licensed providers? Yes. So ...

Steven Butala:                   Do we love Data Tree heck yes.

Jill DeWit:                            Yes. Does it change what you're doing right now for land? No.

Steven Butala:                   Yeah, that's the real value is for houses.

Jill DeWit:                            You still have what you need to do what you're doing. So, but would you like to just have all everything possible? Heck yeah and it's why I'm working on that. So, give me a little bit of time. Like I said we are licensed providers so a version of it is coming. I just don't, I haven't, iced it all out yet.

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Transcript:

 

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Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

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

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

Steven Butala:                   Today Jill and I talked about million dollar views. Again all of these clichés, this week.

Million Dollar Views (LA 841)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

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

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

Steven Butala:                   Today Jill and I talked about million dollar views. Again all of these clichés, this week.

Jill DeWit:                            Yep.

Steven Butala:                   This is like positive cliché week.

Jill DeWit:                            Yep.

Steven Butala:                   Clichés that I think are true.

Jill DeWit:                            Yep.

Steven Butala:                   And they all have one thing in common, too, that no one ever thinks about. It's all justifying the price of a property.

Jill DeWit:                            It is.

Steven Butala:                   Well, real estate agent, why is this property twice as much as all of the other property around it? Well, it has million dollar views.

Jill DeWit:                            Because you're the front house. You know, that's it. I agree.

Steven Butala:                   Hey, appraiser, are you think you're gonna be able to appraise this? It's twice as much as every other property in the neighborhood.

Jill DeWit:                            Mm-hmm (affirmative).

Steven Butala:                   I don't know.

Jill DeWit:                            Exactly.

Steven Butala:                   It's million dollar views.

Jill DeWit:                            Yep. I wish I could ... Well, we'll get into the show. I'm gonna try to do an interpretation here in a minute.

Steven 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. And as you listen to us, please drop your questions into the comments section below.

Jill DeWit:                            Walden asks, "Hey, guys, I'm in the process of automating a lot of what I do-

Steven Butala:                   Good.

Jill DeWit:                            And one area that is a sore spot for me is Excel/Google Sheets. Do you guys have any macros you could share for subdivision pricing and scrubbing."

Steven Butala:                   This is a good question. So it doesn't work like that. I wish it did. But I, and I think everybody else that's listen to this, creates their own macros and creates their own ...

Jill DeWit:                            System.

Steven Butala:                   Equations and spreadsheets and, you know, I think honestly most people who are good at that and it comes natural to them, it's never finished the way an artist is like, "The painting is never finished." So ...

Jill DeWit:                            Right.

Steven Butala:                   What I would do, and we talked about this a lot at the live event, if this is something ... Because this is an extremely important part of this, part of succeeding as an investor. I would find somebody else in the group who's good at it and cut'em in on your deal somehow or start to work with them in some way. There's gotta be something that you have that that other person doesn't have, like what Jill and I have going on, where that's just my forte. Data and analysis and things like that. And I'm not real interested in talking to people. I'm only interested in talking to a microphone.

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

Steven 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 Butala:                   Today, Jill and I talk about the worst property on the best street. I've got several personal stories for this.

Worst Property Best Street (LA 840)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

Steven 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 Butala:                   Today, Jill and I talk about the worst property on the best street. I've got several personal stories for this.

Jill DeWit:                            I'm sure you [crosstalk 00:00:18], too.

Steven Butala:                   What does it actually mean? "The worst property on the best street? Why would you ever want the worst property on the best street?"

Jill DeWit:                            Exactly.

Steven Butala:                   We'll explain it, and why I think it's absolutely imperative, and how it applies to infill lots.

Jill DeWit:                            Cool.

Steven 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, and as you're listening to us, please drop your questions into the comments section below.

Jill DeWit:                            Ellis asks, "I've been thinking about mailing to a very rural county, but there's literally no data. There are a couple of big acre properties, like 300 to 400 acres, listed on Realtor, Land Watch, Land and Farm, et cetera, but no properties with sizes in my price range. Frankly, I can't even determine what sizes are in my price range, because of the lack of data. I can't determine who to mail to, and at what price. On the other hand, the area has good attributes, is modestly scenic, and has literally no competition, from what I can tell." No kidding. "Should I take a stab in the dark?"

Steven Butala:                   You had me right up to the last sentence. How is this a stab in the dark? If it was a stab in the dark, you would have just sent mail out to anywhere, you know? This is not a stab in the dark. You've done about 80% of the research already. You've found out all of this information. You've done everything right. So, the question should be that you should be asking, in my opinion, is, is it worth it to give it a shot?

Jill DeWit:                            Right.

Steven Butala:                   Is it worth it to send mail in a very intelligent and premeditated, pretty much looking into a crystal ball? Because I can tell you what's gonna happen, and so can Jill. Before I tell you what's gonna happen, Jill, do you want to comment?

Jill DeWit:                            No.

Steven Butala:                   You're gonna kill it.

Jill DeWit:                            I'm just kidding.

Steven Butala:                   You're gonna kill it in this county, if you price it right. Absolutely kill it.

Jill DeWit:                            I'm totally teasing. You know me, I always have something to say. So, I love it. I love those areas, when there's not much.

Steven Butala:                   Me, too.

Jill DeWit:                            If there's only big ... I'm trying to [inaudible 00:02:19] so there's big properties, but not many little properties-

Steven Butala:                   For sale.

Jill DeWit:                            ... for sale. God, that makes me think that if I come along, with something like a 20-acre, or a 10-acre, or something like that-

Steven Butala:                   Or a five.

Jill DeWit:                            ... I'm gonna kill it.

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

Steven Butala:                   Welcome to the Land Academy show, entetaining land investment talk. I'm Steven Jack Butala.

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

Steven Butala:                   Today Jill and I talk about location, location, location.

Location Location Location (LA 839)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

Steven Butala:                   Welcome to the Land Academy show, entetaining land investment talk. I'm Steven Jack Butala.

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

Steven Butala:                   Today Jill and I talk about location, location, location. All week this week we're going to talk about true real estate cliches.

Jill DeWit:                            Some are good.

Steven Butala:                   And, next week we're going to talk about ones that are ridiculous.

Jill DeWit:                            So, true meaning they are real estate cliches and there's ones that we do believe in.

Steven Butala:                   Yes, and there worth. You need to know about them. And, if you already know about them you need to think about it once again and maybe laugh about it a little bit with us.

Jill DeWit:                            Exactly.

Steven Butala:                   Before we get into it let's take a question posted by one of our members. On a LandInvestors.com online community it's free and as you're listening to us or really probably watching us drop your questions below into the comments section on YouTube.

Jill DeWit:                            Cool. Joe asks about a 1.29 acre property and found out there is an illegal septic system on the property and the county is requiring that it be disposed of before anyone builds on it. "I had a guy about to buy it but he somehow discovered this by calling the county after he had already signed a purchase agreement and closing was held up for two months due to a title company error." Goodness, "No on at the county or township informed me of this problem when I called. Of course, the person that sold it to me didn't tell me probably because they just wanted to dump the problem on someone else. What would you all do in a situation like this?" I know what I'd do.

Steven Butala:                   What would you do?

Jill DeWit:                            Write it off.

Steven Butala:                   Well, [inaudible 00:01:40] and it's expensive.

Jill DeWit:                            Or, unload it. I would be very of course up front, and honest, and transparent about it and I would have the price adjusted to make it a good ... How do I say this? Because of the problem I would have it reflected in the price and sadly it bums me out that the person who did this to him. I don't know if I would say, here's my thing. Do I want to go back and fight it with that person?

Steven Butala:                   Well, hold on a second. Let's take a couple of steps back.

Jill DeWit:                            Alright. I'm getting all into it now.

Steven Butala:                   This is not the norm.

Jill DeWit:                            This is true.

Steven Butala:                   I intentionally left this question in here.

Jill DeWit:                            Okay.

Steven Butala:                   Our producer chose this question and we all know Joe.

Jill DeWit:                            Yes.

Steven Butala:                   And, he's a super good guy and he's going to do the right thing but and you have a choice. This is very rare that this happens, very, very, very rarely.

Jill DeWit:                            That's true.

Steven Butala:                   And, maybe not often enough that celebratory questions and stuff don't happen through this venue but it happen...

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hi.

Steven Butala:                   Welcome to the Land Academy Show. I think it's Friday.

Jill DeWit:                            I hope it's Friday.

Steven Butala:                   Entertaining land investment talk. I'm Steven Jack Butala.

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

Steven Butala:                   Today Jill and I talk about, well, we finish what we started yesterday. Land business expenses, line item by line item.