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.

Jill:                          Uh Oh.

Steve:                   What the heck is the topic about?

Jill:                          Right.

Steve:                   What do you mean 'Find Your Zen Investor Inside'?

Jill:                          What are you talking about.

Steve:                   Really? What the heck does that mean. What it means is, you should be having fun and this should make sense to you. After you're all educated and you get a few deals signed and you should just feel good about it. You should say "you know what? I love buying infill lots or rural vacant land or I love wholesaling houses.It's easy, it's profitable, I get to spend more time with my family. And, it's just, I found my zen. If...

Jill:                          Go ahead

Steve:                   ..that is a huge struggle and it's like "god, I don`t want to do this next deal", that's not good.

Jill:                          For the record, I was trying to ascertain what this means to you.

Steve:                   Oh, I just told you.

Jill:                          I know. Thank you. I appreciate that. Then thank you for also explaining to me what you think... you know what I mean. I was trying to figure out what this means to you. Any by the way, I have to just say something, you see the little asbestos flakes falling down? It's-

Steve:                   Asbestos flakes?

Jill:                          That's what I think I'm seeing. I wonder if it shows up on the camera, but every now and then, there's like little fuzz from our older...where this studio is, is in an older facility and every now and then I see the little asbestos flakes. That's what I say-

Steve:                   Here's the story of this facility, of this studio-

Jill:                          Coming down like that over there, and I don't know what that is.

Steve:                   Jill has this beautiful air conditioned office in a little beach community near our house and I went on the roof one day and I notice that there's this open store room, there's a bunch of shelves in it from the 80's. So I call the landlord and I say "no one is using that store room up there. I'll rent it from you for X" he said "that sounds like a great idea! Clean it all out" so that's what happened. And now the asbestos is coming.

Jill:                          Exactly. I love it. And I love that lead based paint over there too. Just kidding.

Steve:                   That's what I had for lunch

Jill:                          I'm sure that's what's going on.

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

Jill:                          Landrove asks, which I'm sure Landrove is his website.

Steve:                   Yeah.

Jill:                          I love that. "I just got the course and joined about a month ago. This is my first post.

Steve:                   Uh oh.

Jill:                          ...Congrats... "I have a question about pricing.

How to Market Rural Vacant Land by Landio.com (LA 804)

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

Steven Butala:                   Today, Jill and I talk about how to market land by Landio.com. It's a site by one of our members

How to Market Rural Vacant Land by Landio.com (LA 804)

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

Steven Butala:                   Today, Jill and I talk about how to market land by Landio.com. It's a site by one of our members who's been with us probably almost two years now and it's truly extraordinary. I can safely say he is absolutely a thousand times better at marketing than we are.

Jill DeWit:                            Exactly.

Steven Butala:                   He came to us with marketing experience and just applied the real estate knowledge that he took from us and applied it to his website and how he sells property. It's staggering. We'll actually on youtube itself here, look at his site and talk about it.

Jill DeWit:                            We're going to screen share, so if you're driving, don't jump over and watch us on YouTube but later on you might want to check it out because it's really good.

Steven Butala:                   A vast majority of people that listen to the show don't watch it. I will make sure it works for that medium also.

Jill DeWit:                            Cool.

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

Jill DeWit:                            Ben asks, "Do you mail to churches? I get a lot of them in my data and I'm not sure. Are there any real risks to mailing to them? It seems like they are tax exempt. Thank you."

Steven Butala:                   We answered this question on the closed weekly webinar for our members last Thursday, but I'll answer it again for the public. Heck yes.

Jill DeWit:                            Yeah.

Steven Butala:                   Jill and I buy property from non-profits and churches all the time.

Jill DeWit:                            Usually how they get it, it's donated to them by people. They get it for free, they're not out buying it like somebody. Usually it's left in a will, if anything and nobody wants it, please donate it to the church, or they do it before that or whatever the reason. It's a nice little profit for the church when they turn around and sell it.

A church, an established church, is tax exempt. The property that they own in their name, is that tax exempt, too?

Steven Butala:                   Yeah.

Jill DeWit:                            Because you're not a church when you acquire it, that does not apply to you. You will have to pay taxes. I love that the tax exempt thing came up, but that doesn't mean when you buy it you're now tax exempt because you bought it from them. That's a no, unless you want to become a church, then that's a yes.

Steven Butala:                   It's not just churches, it's all nonprofits regardless of denomination. It's a tax status, not a religion thing. There's a lot of hospitals and healthcare systems that are nonprofit like Sisters of Mercy and on and on and on. I'm not picking on them, but there's just tons. When you really think about a large hospital in an urban area and what they would actually be taxed. Let's say there are two hospitals right next to each other, one's for profit and one's not. Think of the financial advantage, I mean, it's millions of dollars a month.

I just read an article about six months ago about, I think it was Harvard, which is a nonprofit,

Number One Set Back for Land Investors (LA 803)

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 number one setback, as we see it, for land investors.

Number One Set Back for Land Investors (LA 803)

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 number one setback, as we see it, for land investors.

Jill DeWit:                            This is gonna be good.

Steven Butala:                   We intentionally did not converse before the show.

Jill DeWit:                            Exactly. I can't wait to see if we have the same thoughts or differing.

Steven Butala:                   What do you think the chances are that we actually have the same opinion about-

Jill DeWit:                            Eighty percent.

Steven Butala:                   I think it's a pretty good chance-

Jill DeWit:                            I think eighty percent that we're gonna answer the same way-

Steven Butala:                   Me, too.

Jill DeWit:                            Maybe what we're gonna do ... After we do this question I think when you get to the meat of the show can we do a one, two, three blurt it out?

Steven Butala:                   Yeah.

Jill DeWit:                            Okay, good.

Steven Butala:                   Then we can maybe, like, I have like three-

Jill DeWit:                            Then you can explain yours.

Steven Butala:                   I have a super favorite one, but then-

Jill DeWit:                            You have three?-

Steven Butala:                   What's number two and three?

Jill DeWit:                            I only came up with one, it's the number one-

Steven Butala:                   Well, we have all kinds of time. Before we answer the question, no, before we get into the topic, let's answer a question posted by one of our members on the landinvestors.com online community: it's free.

Jill DeWit:                            Matt asks: "I have a property under contract for $10,000, but it's a half a mile from electricity. This will cost $14,000 to run electricity to it. Comps are $25,000. Would the access to electricity change our offer price if the other comps all have electricity at the lot line? I know that you don't need electricity-

Steven Butala:                   Not at all this day and age.

Jill DeWit:                            I could see how someone might even want the property to not have electricity, so fewer people are likely to be neighbors. But that logic, of course, means if you ever want to be my buyers, ha ha, I'm curious what everyone's thoughts would be, thanks."

Steven Butala:                   I have a question before we answer this for you.

Jill DeWit:                            Okay. For me?

Steven Butala:                   Of the 15,000 properties that you and I have purchased and sold-

Jill DeWit:                            Yes.

Steven Butala:                   Closer to 16,000 now-

Jill DeWit:                            Right.

Steven Butala:                   Do you know in even one of those properties how far it is from an electric line?

Jill DeWit:                            Negative. I do not.

Steven Butala:                   Neither do I.

Jill DeWit:                            Next topic.

3 Ways to Value Real Estate (LA 802)

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 am Jill DeWit. And we are again broadcasting from sunny Southern California.

Steven Butala:                   Today Jill and I talk about the three ways to value real estate. I'm surprised we haven't talked about this earlier.

3 Ways to Value Real Estate (LA 802)

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 am Jill DeWit. And we are again broadcasting from sunny Southern California.

Steven Butala:                   Today Jill and I talk about the three ways to value real estate. I'm surprised we haven't talked about this earlier.

Jill DeWit:                            I know.

Steven Butala:                   This is show 801. And we haven't talked about valuation. It's so important, you know?

Jill DeWit:                            I agree.

Steven Butala:                   We'll get to the meat of it, I guess in a minute. Before that let's take an interesting question actually from one of our star performing members, Luke Smith.

Jill DeWit:                            Cool.

Steven Butala:                   If I can get everything to work.

Jill DeWit:                            It's okay.

Steven Butala:                   Yeah, alright.

Jill DeWit:                            By the way, where did he post this question? On our free online community and you can find it on LandInvestors.com.

Luke asks, "I'm okay at selling the smaller dollar amount properties, selling usually a couple a day. Now I want to get good at selling the bigger dollar ones."

Steven Butala:                   Yeah.

Jill DeWit:                            "My buyer pool is not the right people to buy my bigger dollar ones. I think the right people are people already bought one or many in the area. Maybe even a couple county area buyers who paid and researched the market before buying in the area already."

Steven Butala:                   What he's saying is he's finding buyers who've already gone through the motions of researching the area so he doesn't have to hard sell them on the area. They're already sold on the are, they just to buy cheap properties from him.

Jill DeWit:                            Right. They bought large acreage over here, they bought large [crosstalk 00:01:30] over here.

Steven Butala:                   And he's totally right.

Jill DeWit:                            Exactly.

Steven Butala:                   There's a reason he's good at making so much dough.

Jill DeWit:                            "They already know what the area's value is. There might be some developers in that list too."

Steven Butala:                   Exactly.

Jill DeWit:                            "I want to mail them and pitch them." So here's the question, "What is the 80/20 or the Pareto principle to hit them? What price? What time limit? What type of properties? What size? The same type recent buyers for lots of money, right? Or are people who paid less more astute shoppers and more willing to jump on a new deal? If I have a five acre and they just bought a point two five acre, you think they're prone to go for my five acre one?"

Steven Butala:                   Yes. I do.

Jill DeWit:                            "Is two years enough? Or five years of recent buyers enough?"

Steven Butala:                   Yes.

Jill DeWit:                            "Lots of things to test out here. Still cheaper than hiring out picks or drone or realtors or much of the other kinds of advertising like LandWatch, et cetera."

Steven Butala:                   Like LandWatch. He's exactly right. Let's summarize.

OffersAcademy - Other Places Data Works for You (LA 801)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

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

Jill DeWit:                            And I try always to be entertaining, Jill DeWit broadcasting from sunny Southern California.

Steven Butala:                   Today Jill and I talk about Offers Academy, other places that data works for you.

OffersAcademy - Other Places Data Works for You (LA 801)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

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

Jill DeWit:                            And I try always to be entertaining, Jill DeWit broadcasting from sunny Southern California.

Steven Butala:                   Today Jill and I talk about Offers Academy, other places that data works for you.

Jill DeWit:                            By the way, you are always entertaining.

Steven Butala:                   Yeah.

Jill DeWit:                            You may not know that.

Steven Butala:                   Oh, meaning you can laugh at me all the time?

Jill DeWit:                            Pretty much.

Steven Butala:                   And everyone else should too.

Jill DeWit:                            I hate say, it's funny, it's kind of a joke at the office 'cus it happens. And sometimes I find myself clarifying, "Really, I'm laughing with you, I'm not laughing at you." But there are times that I am laughing at you. And as people laugh at me. As it should be that way.

Steven Butala:                   Yeah.

Jill DeWit:                            Like right now, Steven, I am laughing with you, I am not laughing at you.

Steven Butala:                   Alright, well give it a minute.

Jill DeWit:                            Okay, yeah. That's true. I might.

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

Jill DeWit:                            Again, I'm still laughing with you, I could have laughed at you right there, but I didn't.

Steven Butala:                   Why, 'cus I can't read?

Jill DeWit:                            Pretty much. But I didn't laugh at you. I'm laughing with you. Marcus asks, "I'm researching a state for my mailer and came across an article about projected population changes from now until 2050," two zero five zero. That's a long ways out.

Steven Butala:                   Is it?

Jill DeWit:                            Are we still gonna be here then?

Steven Butala:                   It's 20 years from now.

Jill DeWit:                            30 years from now. That's a long time.

Steven Butala:                   Oh, it's 30 years from now.

Jill DeWit:                            Yeah, I don't know.

Steven Butala:                   Yeah, maybe. Well maybe one of us will be.

Jill DeWit:                            It's probably the one that's gonna be laughing all the time. Not the one that's all stressed out. And that changes a lot between us.

Steven Butala:                   Jill, who do you think's gonna go, you or me, first?

Jill DeWit:                            I'm not sure.

Steven Butala:                   Statistically, you're supposed to outlive me.

Jill DeWit:                            So here's what I think ... I don't even want to talk about this because I have a theory, but I don't want to say it.

Steven Butala:                   Yeah, I want to hear the theory.

Jill DeWit:                            Alright, I think, this is totally off topic.

Steven Butala:                   I'm an angry person.

Jill DeWit:                            No, here's what I think,

Episode 800 What We Have Learned from our Members (LA 800)

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 episode 800 and what we've learned from our members. I can't believe-