Steven Jack Butala:Jack and Jill here.Jill K DeWit:Hello. Welcome to the Land Academy Show, entertaining land investment talk.Steven Jack Butala:I'm Steven Jack Butala.Jill K DeWit:And I'm Jill DeWit, broadcasting from the Valley of the Sun.Steven Jack Butala:Today's topic, how much land acquisition due diligence is too much.Jill K DeWit:This comes up. I wanted you to know this is not a newbie question. This has come up this week in...Steven Jack Butala:Career path.Jill K DeWit:Career path.Steven Jack Butala:We spent an hour on this.Jill K DeWit:I'm trying to think because this week we also had our advanced call, too. I don't think it comes up too much there, but I think it does. I think we touched on it in both environments this week and that's why we wanted to talk about it.Steven Jack Butala:There's a deeper issue, a rooted psyche type issue under what's going on here, which I'll talk about when Jill's done here. Before we get into it though, let's take a question posted by one of our members on the landinvestors.com online community, it's free.Jill K DeWit:By the way, did you know we have now solved your data pulling and scrubbing and getting sold and active comps? Fill in the blank so you can accurately price your mailer and get it in the mail. It's called concierge pricing. Is that the right name?Steven Jack Butala:Concierge data.Jill K DeWit:Concierge data.Steven Jack Butala:Concierge data plus.Jill K DeWit:There we go.Steven Jack Butala:What's the plus? The plus is from start to finish, we get it in the mail for you.Jill K DeWit:Yep, exactly. Where do you find out more? Go to offers2owners.com and you'll find everything there and there's a phone number there. Give them a call. Or you can also send note to support at offers2owners.com.Steven Jack Butala:I will tell you, every month how many orders we process for concierge doubles. It doubles. Recently, we asked the staff who is the customer? Who is concierge's customer?Jill K DeWit:Are they brand new people? Who is doing it?Steven Jack Butala:They said the vast majority are people that just want outsource their mailing operation.Jill K DeWit:They're pros.Steven Jack Butala:Yeah.Jill K DeWit:They're busy pros.Steven Jack Butala:They're long time Land Academy members that aren't interested in doing a mailer anymore.Jill K DeWit:Exactly. It's not just someone that can't figure it out. They know what to do, they just don't want to do it. You're not nuts. Start there. All right, here's the question. Is it Juan Gecoo wrote, "Hi there. I'm calculating price per acre in a zip code and the prices are ranging wildly from half a million dollars to $5000. How can I get the most efficient, accurate measure price per acre for a 1500 unit count mailer?"Steven Jack Butala:Incredibly good question and concise. When you go out to solve for the retail price per acre in any given zip code, because you're going to send mail there, you can't just throw a dart at a board, you need to know where to start when you price a mailer. The way to do that is to get active listings in a zip code and sold listings in a zip code. You take them all together in a spreadsheet, you get averages or means, however you'd like to use it, and you determine that zip code, 12345, properties that have sold there for the last 12 months or active, the price per acres, $2,200.I'm going to offer something lower than that because I'm going to sell it for 2200 or even lower. Well, great. What happens when one of my comparison values is a million bucks, one of my comparison values is 5000? This happens a lot. This is an extreme example. A more realistic example is one sold for $25,000, one sold for 15, one sold for 32. And so my average might be too high, might be too low. This is what you have to do in an extreme situation. You really need to dig deeper. You need to then get all the data in one place and look into block by block pricing or APN based pricing if it's in a rural area.Yo have to really,

Steven Jack Butala:... This drive. There we go. Steve and Jill here.Jill K DeWit:Hello.Steven Jack Butala:Welcome to the Land Academy Show, entertaining land investment tech. I'm Stephen Jack Patella.Jill K DeWit:And I'm Jill DeWit, broadcasting from the Valley of the Sun.Steven Jack Butala:Today I talk about the American Land Division system, explained.Jill K DeWit:I notice you took out the, before Jill and I, today. I,Steven Jack Butala:Yeah, I'm going to talk about this because Jill's not going to talk about it. Jill doesn't care about this topic and you might not, also. This topic is one of those things where you just need to know, you need to be aware of this system. You don't need to repeat it, you don't need to learn it, and you don't need to care. You just need to know the basic stuff. So we'll get through it quickly together for you. Before we get into it, let's take [inaudible 00:00:44].Jill K DeWit:I'll be over here.Steven Jack Butala:... Posted by one of our members on the landinvestors.com online community. It's free. But before we get into that, I'm hoping that you know by now we have a full blown commercial printing company that Jill and I created solely to help you get inexpensive direct mail offers in the hands of sellers fast. It's called Offers 2 Owners. Offers the number two owners.com. Jill and I set this company up several years ago and now we actually share it. The exact same people that we put in place to do our mailers, we share it with members and non-members alike. Recently I looked at it, we mail between 700 and 800,000 offers a month and we do everything at any level of service that you want. We can just get it in the mail for you or we can do the entire mailer for you. Call (800) 725-8816, which also, so is is (800)JACKJILL, I think.Jill K DeWit:That's a different number.Steven Jack Butala:Oh, nevermind. Or email support at offers2owners.com for more information.Jill K DeWit:All right. Is this the same Will. Will's asked a lot of good questions. Okay, so Will is back from yesterday because Will has a plethora of good questions in here, which I think is awesome and Will wrote. "Okay. Neighbor letter question. I've heard that mailing to everyone within a one mile radius is the recommendation. Got it. For those that are directly connected IE to the property, should it be a different letter? Maybe more details, maybe more personal. Seems like it could help. For example, I have a parcel that is a neighbor with a nicely built home and then a mobile home across the street. I considered writing, even hand addressing a letter to the neighbor with the more expensive home to see if they would like to add an acre to their property and control what happens around them. How have you all handled your neighbor letters?"To be honest, can I answer this, please?Steven Jack Butala:Yes, please.Jill K DeWit:Okay. I have honestly, Will, I have done that and I would do that. I totally agree with that. My reason was, I had a property that there was total physical access, thought there was legal access. It turned out it wasn't real legal access. It was really a weird situation. Even though there was a street named, it was odd and there was even a cemetery back there that people were using this. All the signs would tell you it's physical and legal to be going to the cemetery back in there, but it technically wasn't. So the good news is, it was there, it existed. I just needed a piece of paper from somebody to agree on it. So I isolated the neighbors and I literally, personally, it didn't take me long at all. Literally made a cute little map and I highlighted for each of the neighbors and I needed to ask for physical access.I said, "Here's my lot, here's your lot. Mine's yellow, yours is green, whatever it is, and I'm reaching out to you for two reasons. One, would you please, I just need you to sign off on granting access." That was one. And then two was, "Hey, I'm putting this thing up for sale. Are you interested?

Steven Jack Butala:Jack and Jill here.Jill K DeWit:Hello.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 Dewitt, broadcasting in the valley of the sun. Can you see our boring brown background?Steven Jack Butala:We're back.Jill K DeWit:We are home. You know what? Your dad's right. Your dad... This is a funny thing we were talking about. Your dad, when-Steven Jack Butala:My dad's right about something?Jill K DeWit:... Yeah. Your dad's right about something. Your dad says to us, basically, he's talking about where we live and the landscape, but it looks like our home too. He's like, "You must really love the color brown." You know what? I do.Steven Jack Butala:I do, too.Jill K DeWit:Apparently I do. Well, I have brown hair. I have brown eyes and so you like brown hair, brown eyes because you're with me.Steven Jack Butala:To which I always say to my dad, "It's better than the color white." Meaning white snow.Jill K DeWit:Yeah. Totally agree.Steven Jack Butala:I will take great weather brown over silly cold weather snow white.Jill K DeWit:Because you know what comes with great weather brown? Blue skies, yellow sun.Steven Jack Butala:And happy people.Jill K DeWit:Happy people. No shovels.Steven Jack Butala:Today Jill and I talk about, well it's land investing from the road. Week six.Jill K DeWit:Week seven. Technically, week eight.Steven Jack Butala:Yeah.Jill K DeWit:I'm going to catch y'all up here.Steven Jack Butala:This is actually week seven. Sorry.Jill K DeWit:Yeah. Well, week eight. Again, I'll catch up because we skipped week seven.Steven Jack Butala:Oh, right.Jill K DeWit:Yeah.Steven Jack Butala:The name of the show is called Land Investing from the Road, Week Seven, Hotel Bar Land Conversations. It is shocking.Jill K DeWit:I'll catch y'all up.Steven Jack Butala:When you sit down at a hotel bar and start talking about people's experience in their own land deals.Jill K DeWit:Exactly. Before we get into it, we're going to take a question posted by one of our members on our online communities. There are two. The public one is landinvestors.com. The private one is with our members and it's on Discord. Will wrote, "Before coming to Land Academy, I made the mistake of taking a different course." Aww.Steven Jack Butala:It's not a mistake.Jill K DeWit:Oh no, I don't think so. I think you get something out of everything.Steven Jack Butala:Me too.Jill K DeWit:And if anything had brought him here. It kind of warmed him up and taught him some stuff and-Steven Jack Butala:More education's always better.Jill K DeWit:... Sure.Steven Jack Butala:On everything.Jill K DeWit:So he goes on to say, "In that course it prioritized starting in just a couple of counties and often close enough to get to for putting signs out or whatnot." Is there more to the question?Steven Jack Butala:Let's see.Jill K DeWit:Hold please.Steven Jack Butala:I'm relearning to use a teleprompter for this highfalutin equipment that we have in our home studio. We're not used to that.Jill K DeWit:Great.Steven Jack Butala:From our two month long RV-Jill K DeWit:Stint.Steven Jack Butala:... Yeah.Jill K DeWit:"I've stayed within a single state and done some deals. However, when I think about trolling for zip codes and the red, yellow, green testing them AKA our way, it seems like I could be doing this anywhere in the country. Should I be hesitant about being in a bunch of different states?" Oh my gosh, that's the best.Steven Jack Butala:This person posted this in Discord. Can you imagine what people said?Jill K DeWit:Oh, my God. Yeah. This is going to be... I can't. I'm sure there was a barrage of comments.Steven Jack Butala:I don't know why someone would teach limits.Jill K DeWit:Good point.Steven Jack Butala:Do you sit and tell your young children every day, this is good enough for you?Jill K DeWit:Yeah.Steven Jack Butala:You know in all this amazing things and opportunities and wond...

https://youtu.be/k8aQ-ybWysgThanks for listening, and finally, don’t forget to subscribe to the show on Apple Podcasts.

Transcript:Steven Butala:Steve and Jill here.Jill DeWit:Hey.Steven Butala:Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.Jill DeWit:And I'm Jill DeWit, coming to you from sizzling Scottsdale, Arizona.Steven Butala:Today, Jill and I talk about, well, it's Jack Thursday.Jill DeWit:Yeah.Steven Butala:It's the five things you must know before you start real estate investing of any kind. I'm going to tailor mine a little bit to land, but it's really just being a general real estate investor.Jill DeWit:Oh.Steven Butala:I think there's a little bit of a misconception about what this takes.Jill DeWit:Oh. I can't wait because I wrote down my own list. I had trouble coming up with five. I think I came up with four. I could have turned four into five. I thought, "Nah, I'm going to leave them condensed."Steven Butala:I came up with 40, but we'll just do the top five.Jill DeWit:Aha. But mine's also just general real estate investing. Mine is not necessarily land-focused. It's kind of anything. Honestly, mine can be any niche. Mine can be anything. Mine could be the top five things you must know to start X.Steven Butala:A marriage.Jill DeWit:Even that.Steven Butala:Go.Jill DeWit:No, I'm not going to share my list now.Steven Butala:Quick. Come on. Read it off.Jill DeWit:No. I'm not going to share my list now.Steven Butala:Top five things you need to be in a successful marriage. Go.Jill DeWit:It's the same list. I'm going to share it in a minute.Steven Butala:It's the same list?Jill DeWit:Oh, it's good.Steven Butala:You want to get into it?Jill DeWit:You're going to hear this. We're going to do this in a minute when we get to the topic. We're going to have you envision my list.Steven Butala:Right. Here's a new title. There's a new title, five things you need to know before you cross out, start fill in the blank.Jill DeWit:Start X. Oh, yeah.Steven Butala:Because that's how mine is too.Jill DeWit:Oh, mine could be a marriage. I'm going to use it. You know, I wrote it down as real estate investing, but we're going to sub marriage in a minute here and it's going to be funny.Steven Butala:Excellent.Jill DeWit:It's like Mad Libs.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 if you're already with us in Land Academy, join us on Discord.Jill DeWit:Hold, please. Before I read the question, I'd like to give one little thing too. Don't forget, Land Academy deal funding is bigger and better and faster, and boy, do we have money. We now have limitless money available and decades of experience, you can tell, look at us, to help you get deals done. Right?Steven Butala:Yeah. See this gray hair?Jill DeWit:Lots. So go to landinvestors.com and click on the Deal Funding tab today. Thank you. All right.Steven Butala:Nice.Jill DeWit:Where was I? Danielle wrote, "I have an owner who wants to sell and has three people on the deed. All three will signed." That is helpful. "She also asked to have three checks, one-third to each." Fine. "She also asked that I send them each a purchase agreement." Okay, Danielle. Now you're pushing it with me a little bit, but okay.Steven Butala:Well, they're pushing it with her.Jill DeWit:That's true.Steven Butala:It's not you, Danielle.Jill DeWit:The other two are giving Danielle a hard time. I get it. "Should I list the property for the total amount? Should I list the property for the total amount on each purchase agreement or break it up into thirds for each person's portion? Or should I send all three a new purchase agreement, three places to sign?" I like that one. It's not that big of a deal. You don't even really need ... I mean, depending ... If you're going through escrow, I would send the same purchase agreement out.Steven Butala:Well, they're not. She's not, because the escrow agent would handle all this.Jill DeWit:That's true too. All right,

Transcript:Steven Jack Butala:Steve and Jill here.Jill K DeWit:Hi.Steven Jack Butala:Welcome to The Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.Jill K DeWit:And I'm Jill DeWit, broadcasting from the Valley of the Sun.Steven Jack Butala:Today, Jill and I are going to talk about the three types of land transactions that we do. This is something new that Jill and I just came up with in this current career path that we're instructing. It seems to be getting really, really good response and I think you should consider doing three types also.Jill K DeWit:I was going to pause and talk about for a second... It's kind of funny, this sounds like... Do you have IT issues too? Does your website go down at random times and you just need help and can't find a good person? Well, you are not alone. We're meeting with an IT person today, and we were just talking about... I'm like, "I wonder if anybody else has these same issues we do?" The whole problem about IT is not IT. It's the contracts and the way people go about it, how much money everybody wants up front, and how the projects never seem to end.Steven Jack Butala:Thanks for just blowing this whole thing, Jill.Jill K DeWit:I'm so sorry. I just thought that was interesting to hear and understand and share.Steven Jack Butala:Right before we turned the camera on for this show, we were talking about what's going to happen today, and I have to meet with a new tech person, who's extremely intelligent and a super good guy. But just that industry has gotten to a point where it's just no fun at all.Jill K DeWit:It's weird.Steven Jack Butala:Contracts are real thick, like contracts always get thicker, not thinner.Jill K DeWit:Yeah.Steven Jack Butala:It costs $25,000.00 to do a website now, bare minimum. It used to cost like $700.00. It's just all liquid pain.Jill K DeWit:Isn't it funny?Steven Jack Butala:It's so painful to get a website done.Jill K DeWit:Do you know you're right? I remember years ago going to this company that was going to build us a site, and they quoted $25,000.00 back then and I about fell out of my chair. We obviously didn't do it. We did it ourselves.Steven Jack Butala:Right.Jill K DeWit:Clearly we did it ourselves back then. If you remember Landacademy.org, that was us. Hey, but we did it and we got here and now we're like... "If it was only $25,000.00 I'd be fine with that."Steven Jack Butala:Yeah.Jill K DeWit:Not so much.Steven Jack Butala:It's more fun to do a podcast times 10 than it is to deal with any IT issues.Jill K DeWit:Very true. I'm glad we're here.Steven Jack Butala:Before get into it, thanks for letting us rant. Let's take a question, posted by one our members, on the Landinvestors.com online community. It's free, and don't forget to subscribe to The Land Academy YouTube channel and comment on the show as you like.Jill K DeWit:Lance wrote, "How do you price mailers for land in really hot markets?"Steven Jack Butala:This is totally on topic for what we're about to talk about today. You price them higher. We're going to talk about the three types of deals that Jill and I do. It didn't come to me, these types of deals, in an organized way. We just sort of organically started doing different types of deals to respond to the market. And so, Lance, I'll answer your question here in a second. Today's topic, there are three types of land transactions that we currently do. This is why you're listening. For some reason we started calling them buckets. Transaction number one is buy for X and double your money, then sell it.Steven Jack Butala:This could be in desert squares. We call it a bread-and-butter type land transaction. For us, the prices kept creeping up, so we would start... I mean, a typical deal for me before Jill and I joined forces was buy for $1,500.00 to $2,000.00 and sell for four, five or eight, on the internet five times a day. And so, since then, since Jill got involved, and we've made dramatic improvements since then ...

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 sweet Scottsdale, Arizona.Steven Butala:Today, Jill and I talk about the five land investing tools that we can't live without.Jill DeWit:Yes, this is going to be good. I have my list. Don't look.Steven Butala:Okay.Jill DeWit:Don't [inaudible 00:00:20].Steven Butala:Okay, good. 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 if you're a member, please join or participate in our strings on Discord. I promise you, you will not be disappointed.Jill DeWit:You're going to get immediate answers. I was telling someone about that the other day. I'm like, if you're struggling with anything.Steven Butala:Anything.Jill DeWit:And you're not taking advantage of the support that's there, you just got to throw a question and people will answer it.Steven Butala:Here's an example.Jill DeWit:That's kind of like, I can't help you with that. If you don't do it, don't ask.Steven Butala:I'm having trouble getting my first mailer out. I can't just pull the trigger. Can somebody please kick me in the butt? And everybody will sweep in, me included. I answer tons of questions in real time.Jill DeWit:That's good. Okay. Thomas wrote, I have sold many things online in the past and understand that there's no shortage of flaky people that call on items listed for sale.Steven Butala:We talked about this yesterday.Jill DeWit:I did not expect this with real estate though. I'm trying to sell my first two properties and I'm getting a steady flow of interested buyers, but all of them disappear after telling me how interested they are to buy. I'm now advertising on Craigslist and Zillow right now. The properties have good attributes, almost five acres each, and a price at half of what two and a half acre properties are. Is the issue my lack of reach in marketing or because they are desert properties where several others are being bought and sold?Steven Butala:This is [inaudible 00:01:45]. This is a classic. This is classic men mistake. I'm a man and I have made this mistake and sometimes make it to this day. You believe that the thing that you're selling is what matters. You believe that the mouse trap that you've built doesn't require any sales, and what really is happening here is, you're doing the first 60% of everything correct. And you're not doing the backend 40%. I would bet you a dollar that you are not having this conversations with these people and then saying, "Hey, what's your email address? I'll email you all the information right now, and included there is a link for you to put $500 down on the property so we can start the closing process, and somebody would buy it. That's all you need to do. It's not the posting is bad or the real estate's bad. It's the sales. It's the call to action closing part.Jill DeWit:We had someone on our staff who now is doing a different job, trying to help with this job for a while. And that's all they were doing. They thought they were just there to answer questions like customer service.Steven Butala:No.Steven Butala:I'm like, no, you've got to...Jill DeWit:You're there to sell it.Jill DeWit:Exactly. You've got to do a little bit more than just answer the question and go, is that it? Okay, well, have a nice day. Click. Hello? What the heck? That's not what this is about. That's right. That's where it is. Okay, good. All right. Take care. No.Steven Butala:It's interesting, most real estate agents are like this too. They just don't... They just wait. Okay, thanks. No, you've got to send... You need to...Jill DeWit:Work. You've got to work a little bit.Steven Butala:Jill can write the book on getting people to do what she wants them to do without them having any idea that they're actually being sold something.

Transcripts:Steven Butala:Steve and Jill here. 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 Scottsdale. Where it's got a cowboy vibe around here. Let's just tell it like it is.Steven Butala:Whenever Jill goes into any new environment, even if it's very temporary, she has to dress the part. So, she's got... Like if we go skiing, even though she doesn't ski [inaudible 00:00:31], she will get all the outfits...Jill DeWit:Yeah.Steven Butala:If it's a six day ski trip, she's got six outfits, six new outfits.Jill DeWit:If we were in Japan, I'd be wearing a kimono right now.Steven Butala:We're no stranger to Scottsdale. We lived here together and separately for years, years and years. We never had cowboy boots.Jill DeWit:First separately, and then together.Steven Butala:We never had cowboy boots, never had hats or anything, and now she's got all that.Jill DeWit:Totally.Steven Butala:What's all that about?Jill DeWit:Got them in Utah, which is really funny. Park City started the whole thing. It's just cool. I love it. I enjoy this environment.Steven Butala:Today, Jill and I talked... And she doesn't find the cheap ones.Jill DeWit:Come on. It's not like I have 10 of them.Steven Butala:Today, Jill and I talk about the top five mistakes new land investors make. This is going to be an interesting show. We all went in separate corners and listed the top five separately. So, I have no idea really-Jill DeWit:It's going to be fun.Steven Butala:Yeah. I wonder how much they overlap. I bet not at all.Jill DeWit:I bet they do. I bet there's total overlap.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 if you're a Land Academy member, please join us on Discord.Jill DeWit:Luke wrote, Hey guys, hope everyone is doing well. Just curious, how many of you send just the purchase agreement in the mailer from offers to owners, to the title company / attorney versus closing with another version of the purchase agreement. Perhaps even as far as the state or the realtor version of a purchase agreement. I only bring this up because many attorneys have sort of chuckled at my purchase agreements I've used when I was wholesaling houses, as if to say they were short-sighted and too basic for such an agreement. It sounds like they chuckled at it, but they took them, which is kind of funny. Just wondering if the one used in the mailer is more of a barometer of testing the willingness of the seller. Then from what you utilize a more detailed and professional purchase agreement. Thanks.Steven Butala:I'm going to answer this, all right?Jill DeWit:Sure.Steven Butala:When I started this, I sent a scaled down version of the purchase agreement that we use now, which is literally half of a page to my lawyer. And he looked at me and said, "this is the greatest thing I have ever seen ever." Total binding legal document with parameters for both parties and a timeframe. I think whoever said this, they're not laughing, Luke, because it's not comprehensive. They're laughing in a manner that's like, congratulations, you guys are doing this the right way. I don't want to say you're getting away with it, but this is thought out, it's a binding agreement. It does the job. People sign it and send it back. And it's a single page. It's very clear. I want to buy a property, here's the APN, here's the legal description for the price within this timeframe. And here's how we're going to do it. Everything else in life is complicated as hell, everything.Jill DeWit:I agree.Steven Butala:Why does a real estate deal have to be complicated.Jill DeWit:The answer to the question is no, we use the exact form. That's what I sent into a title company or attorney. And they're like, okay, here we go.Steven Butala:Jill and I just got done closing on our primary residence here.

Transcript:Steven Jack Butala:Steve and Jill here.Jill K DeWit:Jack and Jill here.Steven Jack Butala:Jack and Jill. Sorry. How could you not know your own name?Jill K DeWit:That's okay. I'm here to help you. Don't worry. That's why you have me.Steven Jack Butala:Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.Jill K DeWit:I'm Jill DeWit, broadcasting from Tarrant County. Tarrant County, Texas, for those of you who know where that is.Steven Jack Butala:Today, Jill and I talk ... Well, it's still Friday, and she's going to talk about what makes the perfect land deal. Is it buy for 40, sell for 80? Buy for 50, sell for 200? Is it buy for 5,000, sell for 20? Is faster better with less money, or slower better? I want to know.Jill K DeWit:This is like asking me what's the perfect man.Steven Jack Butala:I know.Jill K DeWit:Or the perfect date.Steven Jack Butala:We could turn it into that.Jill K DeWit:Or the perfect dinner, or the perfect jewelry.Steven Jack Butala:Or the perfect episode of The Bachelor.Jill K DeWit:Oh, there we go. The perfect ending. There we go.Steven Jack 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 I'll have to ... I got to tell you, Jill and I released a few years ago a company called ParcelFact, F-A-C-T.com. It allows you to find real estate within seconds, any property really in the country, with the very few exceptions, by just using the state, the county, and the APN. There's no mailing address because that's the kind of property that we buy.Jill K DeWit:It's what I use for all my due diligence.Steven Jack Butala:ParcelFact.com. Check it out.Jill K DeWit:Oh Jemay. Jemay wrote, "I have a question regarding the deal funding process. When an investor funds a deal, what protections do they have so they don't lose their money? I'm assuming they're on title. Thanks." Yeah, that's what I do.So if I go 50/50 with somebody, we're both on the title, if I'm ... But usually it's me. I'm putting up all the money funding the deal for other people, and so my name's on the title, and that is my protection. It's all in my name.I do look at them too, by the way. I make sure, as best I can, when you submit it to me and say, "Hey Jill, we got to buy this. It's $30,000. I think I can sell it for 60, maybe 90." I'm going to look at it and I'm going to make sure it passes my test too, because I'm going to make sure neither one of us make a mistake. I'm another pair of eyes for you.Then when we do the deal, we have ... It's a simple little two-page agreement that you can find on landfunding.com or on other parts. I know you're in Land Academy, that you can get access to that little contract to check it out and you do the work.I'm your bank, I wire the money in. I'm here to tweak and help you with little questions along the way. But then you're running it, you're the manager of the deal. And then when it closes, we each get paid out of Escrow, whatever we agree upon going into it.Steven Jack Butala:I like to describe it like this, when you buy a house, you go get a mortgage. You find a bank that'll lend money to you. You put 20% down on a $100,000 house. You put $20,000 in. The bank lends you 80,000. And then you make payments until it's over. That's lending. If something goes wrong, the bank's got a lien on the house, and they foreclose on it and they take the real estate back.With deal funding or land funding, we give you all the money. We're the investor. The property ... We take all the steps out of that. We own the property, so does the bank really in the lending case, they just call it a lien. And then if something goes wrong, we own the property and we go decide what we're going to do with it at that point.So, it's really a no-lose situation because we as investors don't ask you for any money down. You find the deal, we fund it. If it doesn't work out,

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.