Profile of People Who Get It (LA 810)

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 profile of people who get it, and as always, it's not just about real estate.

Jill DeWit:                            By the way, yesterday I talked about my COH. So for anyone who didn't catch the show yesterday, I've took COH as my personal components of hotness, and so it could be a ... Steven meant it as a component of hotness for buying land, and I took it as-

Steven Butala:                   For real estate markets.

Jill DeWit:                            For purposes of the business. And I took it to a teenage level-

Steven Butala:                   Which is good.

Jill DeWit:                            Which component of hotness, which is-

Steven Butala:                   It just always happens.

Jill DeWit:                            You know. It's the component of hotness. Let's just be honest with it. So anyway, one very important component of hotness is people who get it.

Steven Butala:                   Oh.

Jill DeWit:                            That's why.

Steven Butala:                   Nice tie-in.

Jill DeWit:                            That's why I'm tying this back in. Because yeah, if you don't get it ... On my component of hotness, that's like a whopping zero.

Steven Butala:                   Oh, on your personal component of hotness.

Jill DeWit:                            If you don't get it, if you walk around not getting life ...

Steven Butala:                   Oh, yeah. Yeah.

Jill DeWit:                            Or you're an extreme narcissist, or something like that ...

Steven Butala:                   Wow. Big words today.

Jill DeWit:                            I am. Well, so-

Steven Butala:                   I agree with you on all this.

Jill DeWit:                            That, actually will take off some of the other good components. Say you're attractive. Oh no, that just, that ... I'm sorry. It works against you. So I had to bring that up. If you don't get it.

Steven Butala:                   We can talk about component of hotness, and we can tie it right into this topic, actually.

Jill DeWit:                            That's my new COH.

Steven Butala:                   Before we do that, let's take a question posted by one of our members on the landinvestors.com online community. It's free.

Jill DeWit:                            [Milan 00:01:38]. We have a couple questions with Milan this week. Milan asks, "Let's say you have $100,000, and you can make only $25,000 of that in acquisitions. That gives you ... " Oh, "You can only make $25,000 acquisitions." Okay.

Steven Butala:                   Four acquisitions.

Jill DeWit:                            So, that gives you four shots. Why is this funny? These are very, just like thinking out there. I love it.

Steven Butala:                   This is good stuff.

Jill DeWit:                            Yeah. "What type of land do you buy, what are the comps, and what do you sell it for? Is it the classic, "Buy for $25,000, comps at $100,000, sell for $50,000, or would you do different numbers? Steve? Jill? Others?"

Hottest Land Markets (LA 809)

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 Jake Butala.

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

Steven Butala:                   Today Jill and I talk about the hottest land market out there.

Hottest Land Markets (LA 809)

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 Jake Butala.

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

Steven Butala:                   Today Jill and I talk about the hottest land market out there.

Jill DeWit:                            You know when I first started to read this topic yesterday, I said, "Today Jill and I talk about the hottest," I'm like what are we gotta talk about the hottest-

Steven Butala:                   Yeah, where's he going with that?

Jill DeWit:                            Oh, no. This could be bad.

Steven Butala:                   He's finally done it.

Jill DeWit:                            I know.

Steven Butala:                   He's finally gone off the end.

Jill DeWit:                            Are my days numbered? We're talking about other hot people?

Steven Butala:                   No.

Jill DeWit:                            I didn't know.

Steven Butala:                   There's no other hot people besides you, Jill.

Jill DeWit:                            Thank you.

Steven Butala:                   Trust me.

Jill DeWit:                            Thanks. That was good though, you got me.

Steven Butala:                   Some people who are in the public for long enough, they just go nuts. They start talking about politics, they get real mad about everything.

Jill DeWit:                            That's funny.

Steven Butala:                   I hope that's never me.

Jill DeWit:                            Me too.

Steven Butala:                   Before we get into this topic though, let's take a question posted by one of our members on the Landinvestors.com online community, it's free.

Jill DeWit:                            Milan asked, "I'd like to know," to point out by the way, this person, talk about what week [inaudible 00:01:11], this person is not a member. Never been a member, asked a lot of questions, been flipping ... he's been a non-member following us for years.

Steven Butala:                   I wonder where he gets his data.

Jill DeWit:                            It's kind of ... I don't know. That's a good question.

Steven Butala:                   I'm sure he's offers to owner customer.

Jill DeWit:                            Exactly. 'Cause some of our companies, I have little a la carte versions. So I suspect Milan might be using some of our a la carte things, which is fine.

Steven Butala:                   There's no cheaper place to get data and there's no cheaper place to send mail. Both of those things. If you do this for house, any type of real estate, period.

Jill DeWit:                            Exactly.

Steven Butala:                   Whatever he's doing, he figured it out apparently.

Jill DeWit:                            It's great.

So it said, question Milan asked, "Questions for Steve and Jill respectively. Jill, you're a mountain land kind of girl. What land or lands did you keep and didn't sell from your past acquisitions and why? Tell us a little about them." That's funny. "Steve, you're a Little House on the Prairie kind of prairie land kind of guy. Which lands are lands that you keep from your long time acquisitions and why?  Tell us a little about them.

Is Learning the Guitar possible for You (LA 808)

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 talk about is it possible to learn the guitar for you? What the heck does he mean by that?

Is Learning the Guitar possible for You (LA 808)

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 talk about is it possible to learn the guitar for you? What the heck does he mean by that?

Jill DeWit:                            This is a Steven topic.

Steven Butala:                   Yes, it is. Because it's not for me.

Jill DeWit:                            It's not for you?

Steven Butala:                   It's not possible for me.

Jill DeWit:                            Oh, I thought you meant the topic's not for you. I'm like, "What are you talking about?" Oh.

Steven Butala:                   No, it's not possible for me to learn the guitar. And we're gonna make ... Because it's just not in my wheelhouse. I look at a guitar and I see wire strings in a box.

Jill DeWit:                            But you used to play the ukulele.

Steven Butala:                   Yeah. Very poorly.

Jill DeWit:                            Oh.

Steven Butala:                   And that I had a long ... That's really actually my whole story ...

Jill DeWit:                            Oh.

Steven Butala:                   Me failing at something that is just not in my wheelhouse.

Jill DeWit:                            Oh, okay.

Steven Butala:                   I can bang the heck out of the drums, by the way.

Jill DeWit:                            Oh, okay.

Steven Butala:                   But we'll talk about that in a minute.

Jill DeWit:                            Now I know where you're going with this. Okay.

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

Jill DeWit:                            Isaac asks: I have property in San Bernardino county. Area's assessed value is at $1500, but the cheapest five acre property in the area being sold is about $7000. So I can probably ... Assessed we don't care about, by the way. So I can probably sell this for 3-4 thousand dollars. Yeah. The one thing I'm unsure about is that there's a concrete slab on the property. The owner says it's from the remains of a cabin that used to be there. Does the concrete make this property more valuable and if so, by how much and how would you price it?

Steven Butala:                   Go ahead.

Jill DeWit:                            I know what I'd do.

Steven Butala:                   I'd love to hear your answer on this. 'Cause I'm sure it's the same as mine.

Jill DeWit:                            I would not even factor that in, but I sure would make a big deal about it when I go to sell it. So I wouldn't offer more money for it, to the person who is selling, but you know, it's really not an issue one way or the other to them. Whatever you're buying it for, buy it. Hopefully it's like 2000 dollars. That's what I'm hoping.

Steven Butala:                   I think he already owns it. It sounds like.

Jill DeWit:                            Oh, okay.

Steven Butala:                   It says he owns a piece of property there.

Jill DeWit:                            Okay. Got it. All right. So, then that's perfect.

Do You Have Startup Capital (LA 807)

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, do you have enough startup capital? This is frequently asked question week.

Do You Have Startup Capital (LA 807)

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, do you have enough startup capital? This is frequently asked question week.

Jill DeWit:                            I like this one.

Steven Butala:                   I do, too.

Jill DeWit:                            Because-

Steven Butala:                   Because the answer's yes.

Jill DeWit:                            Right. Do you have some? Then yes. You know?

Steven Butala:                   Before we get into it, though, we'll take a question. We'll take a question posted. Jill has the answer to this question memorized, and she just started down that path, so we'll save it for after the question.

Jill DeWit:                            Oh, okay.

Steven Butala:                   And then I have a lot of snarky stuff to say.

Jill DeWit:                            You always do.

Steven Butala:                   I know. 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:                            Amy asks, "A potential buyer doesn't have legal documents to get a loan, and she will provide the down payment in cash." Wait, wait, wait. Can we back up there? I'm sorry. I wonder if-

Steven Butala:                   She means legal documents as a citizen.

Jill DeWit:                            Oh. That's what I meant. I'm like, what? Does she not have ... Did she lose the paperwork on the way to the bank? Okay. Thank you.

Steven Butala:                   I think that's what she means.

Jill DeWit:                            I was confused by that. All right. But she does have cash to do a down payment. All right. "My website claims that there are no qualifications for seller financing, but I'm kind of worried about the legal issues if she's unable to meet the note requirements. Now I'm wondering about the potential problems I may be taking on if she doesn't have the proper documentation. What do you think?" I don't really worry about that stuff.

Steven Butala:                   You're so the right girl for me.

Jill DeWit:                            Let me back up here. Let me just ... Because this myth comes up often, that people think that you have to be a citizen of the United States to own property in the United States, and that is absolutely not true.

Steven Butala:                   She's right.

Jill DeWit:                            I can be a citizen of India. I can be a citizen of Italy. I can be a citizen of Indonesia. I picked all the I's. A little theme there. So, it doesn't matter. You can own property here. So, what legal documents are you looking for? I'm not looking for any, number one.

Number two is, I really don't worry about it. If someone can provide the down payment that I ask, and they're gonna start making payments on it, fine. I'm still gonna have them sign my documents, and in my documents, I'm going to clearly state that this deposit is nonrefundable. If you stop paying on the property-

Steven Butala:                   As you do, as all these documents that we do, regardless of citizenship.

Jill DeWit:                            Right. Regardless of anything.

Is There Any More Land to Buy (LA 806)

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 beautiful sunny southern California.

Steven Butala:                   Today Jill and I talk about is there any more land to buy? And I have to, we,

Is There Any More Land to Buy (LA 806)

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 beautiful sunny southern California.

Steven Butala:                   Today Jill and I talk about is there any more land to buy? And I have to, we, every I don't know what? Two months, three months we do a show called like this?

Jill DeWit:                            It comes up.

Steven Butala:                   It's our number, maybe top three question frequently asked question we get so ...

Jill DeWit:                            It is. It comes up.

Steven Butala:                   Every couple of months we try to dispel it forever, but it keeps coming up. Which I understand 'caused quite honestly I had this question when I started.

Jill DeWit:                            Could you imagine though like it's just kind of, for me, it's I know the answer and it never concerns me and I wonder why people get hung up on it. It's like ...

Steven Butala:                   Because it's such a good idea what we do.

Jill DeWit:                            Yeah.

Steven Butala:                   I can answer that. Jill and I we're at a cocktail party. When was this? I don't know, couple a weeks ago, again somebody asked us what we do for a living so Jill and I answered and this guy, I didn't know it at the time, happened to be like a commercial real estate investor in Los Angeles. A very successful one.

Jill DeWit:                            Right.

Steven Butala:                   So I'm describing it the way I would describe it to a new member and his answer immediately was, "Well why isn't everybody doing this?"

Jill DeWit:                            Yeah.

Steven Butala:                   And I said I ask myself that question every day. And he said, "Well I want to get involved in this." And I said, "I think you should." He said, "Well it's probably too late isn't it. Everyone's doing it.

Jill DeWit:                            That's ...

Steven Butala:                   This is a guy that owns office buildings and stuff.

Jill DeWit:                            Exactly.

Steven Butala:                   And apartment buildings.

Jill DeWit:                            I would be more worried about his.

Steven Butala:                   And it's his first question.

Jill DeWit:                            I know.

Steven Butala:                   His first question is am I too late to the party? So we just laughed about it and then we so we're going to take a different approach today and a couple minutes here and try to throw some pretty big numbers. Jill, this is Jill's idea. There are some pretty amazing statistics, big picture statistics about how much land is actually really out there and there's no way, for the record to answer, the short answer to the question is, there's no way we're ever gonna trip over each other's feet.

Jill DeWit:                            Exactly.

Steven Butala:                   But before we get into it which I [inaudible 00:01:56] sort of already did, let's take a question posted by one of our members on thelandinvestors.com online community. It's free.

Jill DeWit:                            Mike asks, "Hello. I have a seller who has two 16 inch pipelines buried on his property. 9 acres divided into three parcels. The pipeline, ROW,

Find Your Zen Investor Inside (LA 805)

Transcript:

Steve:                   Steve and Jill here.

Jill:                          Hello

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

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

Steve:                   Today, Jill and I talk about 'Find Your Zen Investor Inside' and I'm going to quote Jill right before the show.