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5 Things That are a Waste of Time Flipping Houses (HA 1670)

Transcript:

Steven Jack Butala:Steve and Jill here.

Jill K DeWit:Hello.

Steven Jack Butala:Welcome to the land... I'm sorry. Welcome to the House Academy Show, entertaining real estate investment talk. I'm Stephen Jack Butala.

Jill K DeWit:I'm Jill Dewit, broadcasting from The Valley Of The Sun.

Steven Jack Butala:Today, Jill and I talk about five things that are a waste of time when flipping houses.

Jill K DeWit:I'm excited.

Steven Jack Butala:Me too.

Jill K DeWit:So we each wrote down our top five, and then I want to do... You want to do yours that way too? I'm doing the order like the Dave Letterman top five lists and countdown.

Steven Jack Butala:Sure.

Jill K DeWit:Okay, good. This is going to be fun.

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 don't forget to subscribe on the Land Academy YouTube channel and comment on the shows you like.

Jill K DeWit:I wonder where we are on our YouTube channel, by the way. I kind of stopped looking in the last week.

Steven Jack Butala:We hit goal.

Jill K DeWit:Oh, yeah.

Steven Jack Butala:We hit 10,000 subscribers.

Jill K DeWit:That's awesome. Yay. Luke wrote, "One of the counties I'm researching has a large recreational lake and has a lot of gated communities." I'm assuming is in an HOA. "Should I avoid this county or continue the research?" Let me go back. Large recreational lake. Lot of gated communities. I would avoid the county but I would search outside of that area.

Steven Jack Butala:This is a popular topic. A lot of people had a lot of things to say. Most of the comments in Discord are the same as mine. Yes, you should avoid it.

Jill K DeWit:Hey, if it's 90%, maybe that's it. Doing your research, if it is a lot of HOAs, because that will be hard to uncover and dig out. You're not wrong. When you pull the data, it's not always accurate about HOA or not HOA. So it would be easier just to put one county over.

Steven Jack Butala:I included this on the House Academy Show for a reason because it's the same with houses. HOAs [crosstalk 00:01:49].

Jill K DeWit:[inaudible 00:01:49] deals.

Steven Jack Butala:It's harder to see a variant. Number one, it's harder to see a variance in HOA community from pricing standpoint. It's real easy to see and get away with a real good price variance on the buy side versus the sell side, in a non-HOA, non master plan community. You can see one house that was built next to another house built at the same time, completely different style, different square footage. So you can justify buying one for 200 and selling the next one for 400.

Jill K DeWit:I understand.

Steven Jack Butala:So in a master plan, HOA community, the same for land, it's all pretty much cookie cutter. Everything's priced the same.

Jill K DeWit:I understand.

Steven Jack Butala:Today's topic. Five things that we think are a waste of time when flipping houses. This is the meat of the show.

Jill K DeWit:All right. I don't care who goes first.

Steven Jack Butala:I would love for you to go first.

Jill K DeWit:Okay. Here's my personal top five list of waste of time things, when you're flipping houses. Number five, spending days slash weeks on a home equity line of credit or credit cards calls trying to borrow money.

Steven Jack Butala:Yeah.

Jill K DeWit:People do that.

Steven Jack Butala:Boy that didn't make my list, but that's true.

Jill K DeWit:That's a waste of time. Don't start the process by "I need to put some money together. Let's see if we can take out of line of credit." Hold on a moment, everybody. That's not what you should be spending your time on. And I'm glad you like that. Number four, pre-purchasing windows, doors, or carpet or paint since they're on sale in January.

Steven Jack Butala:What? This is a Jill joke show.

Jill K DeWit:This is kind of funny,

How to Work Smarter in Your Land Business (LA 1669)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill K DeWit:

Hello.

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 talk about how to work smarter in your land business.

Jill K DeWit:

You would think we'd be doing this every day.

Steven Jack Butala:

We have... Yeah, this is a whole string in Discord.

Jill K DeWit:

I'll tell you one way we don't work smarter is like right now.

Steven Jack Butala:

What do you mean?

Jill K DeWit:

Like, it's Tuesday and we're recording for Tuesday. We kind of never do that. Talk about cutting it close. That's not very smart.

Steven Jack Butala:

Jill and I were just talking about it. We are still reeling from the holidays and reeling from 2021.

Jill K DeWit:

Mm-hmm. It was a good year.

Steven Jack Butala:

We moved states. We had a great year, great year financially and socially. We moved. I don't have to file a California tax return this year.

Jill K DeWit:

Right.

Steven Jack Butala:

So it's all positive. 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 don't forget to subscribe on the Land Academy YouTube channel and comment on the shows you like.

Jill K DeWit:

Zola wrote, "Seeking advice. I have an agreed price to buy a piece of land in Virginia. And I already have a buyer, which is a neighbor. I want to transfer the property directly to the neighbor and not take possession to avoid closing fees. I'm thinking of using a transferable contract. Any advice? Or better yet, a purchase agreement template."

Steven Jack Butala:

What would you do?

Jill K DeWit:

I hate this.

Steven Jack Butala:

So do I.

Jill K DeWit:

I don't like this.

Steven Jack Butala:

I'm right there with you, Jill.

Jill K DeWit:

This just gives me such a bad feeling.

Steven Jack Butala:

I totally agree.

Jill K DeWit:

It's like a wholesaler's... That's what it's... Not to pick on you, Zola. It's just, I'm not comfortable with it. I always feel like if I believe in the deal, I'm not going to take an assignment or a fee, but that's kind of what you're doing. I would buy it. So I wouldn't even, as far as the purchase agreement template, you could just... There's so many out there you just copy or just add on there or assignees kind of thing, as far as who's going to take ownership. And if you're going to go through title, I mean, you can go through title. Everybody's going to see what it's purchased for. And everybody's going to see your chunk of money in the middle of what you're taking out of it. And then everybody's going to see what the new guy's buying. And it might not leave them with a good feeling.

Steven Jack Butala:

One of our jobs here at Land Academy is to undo bad advice that we've all received in real estate and in real estate investment. This is bad. This is not a good idea. There's a... The concept of assigning contracts and wholesaling has become abused and has now a stigma, a negative stigma. So here's what you do. It's going to cost you maybe $1,500 to $2,000 to close this deal and buy it. And that's it. Buy the property and then resell it immediately. Have a hold-open binder with the escrow agent and resell it for whatever the numbers are to the new buyer, the neighbor. If you don't have the money, this is what [crosstalk 00:03:02].

Jill K DeWit:

... deal funding.

Steven Jack Butala:

This is what Land Academy is for. Just posted. Thank you, Zola, for putting this in Discord. That's the best thing. I'm glad you did this. Somebody will step up and help you-

Jill K DeWit:

They'll fund it.

Steven Jack Butala:

... fund the deal. Take a small percentage, in this case, because you already have it sold. Maybe 10 or 10% ish.

Jill K DeWit:

That's easy.

Blast From The Past: What's Possible Land Side Hustle Math (LA 1668)

Transcript:

Steven Butala:

Steve and Jill here.

Jill DeWit:

Hello.

Steven Butala:

And 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 what's possible in your land side hustle, specifically the math.

Jill DeWit:

Oh.

Steven Butala:

Like these shows.

Jill DeWit:

You didn't tell him it was going to be math class today. I did not prepare for that.

Steven Butala:

There's going to be some math in this. Not going to be math, it's just going to be ... You don't have to do any math, you just have to listen to the-

Jill DeWit:

All right. Good thing I have a notepad and a pen.

Steven Butala:

Listen to the good and the bed and the ugly about what's possible and what's not possible. I'll tell you, here's a hint though, it all starts with getting a mailer out.

Jill DeWit:

You want to know something realistically? I loved math in school.

Steven Butala:

I know you did.

Jill DeWit:

Did you like math?

Steven Butala:

Did I like math?

Jill DeWit:

Yeah. Did you know that about me?

Steven Butala:

Yes, I did.

Jill DeWit:

Okay. How did you know that?

Steven Butala:

I'll tell you Jill, you're a pilot and you have that natural ... I don't think we ever sat down and said, "Hey, how'd you feel about math in high school?" How boring would that be if we did that?

Jill DeWit:

I did like math. My favorite teachers were my math teachers. Math and physics, I loved those. What was your favorite subject?

Steven Butala:

Math, physics. I liked home economics a lot, because-

Jill DeWit:

Is that where the girls were?

Steven Butala:

Yes

Jill DeWit:

Oh.

Steven Butala:

You know what? I liked all. There's not a class that I didn't like.

Jill DeWit:

I'm trying to think. You know what was one of my least favorite classes? That I did it, and I went through the whole thing and I was even president of the club at the end, it's a French club.

Steven Butala:

Oh, you know what? I don't like languages either.

Jill DeWit:

There we go. That was hard.

Steven Butala:

I can get through Spanish, because it was a requirement. I like it now. I like speaking it or trying to speak it.

Jill DeWit:

Yeah, you're good at it.

Steven Butala:

I think I'm great at it after two beers, but ...

Jill DeWit:

You are.

Steven Butala:

But I think I'm great at a lot of things after two beers.

Jill DeWit:

Don't ask me to speak French.

Steven Butala:

No, I don't even ... I can't count to 10 in French.

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.

Jill DeWit:

Herbert S, "Hello all, I'm seeking information/guidance on what I should do with the first deal that I have here. I bought this lot with a very old dilapidated double-wide fixed mobile home on the property that has been there for more than 30 years. According to Steve and Jill, this is normally a good thing, but I've been having troubles trying to sell it because I purchased it without having title to the mobile home and many of the buyers calling in would like to have that, which is understandable. We purchased this lot in an attorney state and did not have any problem buying it without the title. Has anyone dealt with this kind of situation in the past? What would you say are my options?"

Steven Butala:

Yes, so let's take two steps back. Herbert, you're in a great situation. There are two components to buying a mobile home on a piece of land. The land real estate deal, like we're all very used to, and then the personal property aspect of buying a mobile home, which is in most of the states, maybe all states, the exact same as buying a car. It has a ... You go to the DMV, it's all ... I think Texas might be different. There's one state, in fact, it might be California.

Jill Friday - New Years Land Investors Resolutions (LA 1667)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill K DeWit:

Hello.

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 on New Year's Eve. Yay!

Steven Jack Butala:

I can't believe it.

Jill K DeWit:

Yay!

Steven Jack Butala:

We've been doing this show, this is show number 1,600-

Jill K DeWit:

And 67.

Steven Jack Butala:

Amazing.

Steven Jack Butala:

Today, Jill and I, well, it's still Friday. She's going to talk about New Year's land investor's resolutions.

Jill K DeWit:

1667. That sounds like a year. Like, "I wonder what happened in 1667?" You know? It's kind of funny.

Steven Jack Butala:

Yeah.

Jill K DeWit:

Yep. Cool. I have some good notes. I came up with a cute little... Don't read my notes. All good. Get with a cute little saying that I'm going to share too about this.

Steven Jack Butala:

Before we get into it, let's take a question posted by one of our members on thelandinvestors.com online community, it's free and don't forget to subscribe on The Land Academy YouTube channel and comment on the shows you like.

Jill K DeWit:

Jessica wrote, "How do you find someone to put a for sale sign on the street for you? In my workflow, the photographer is long gone and he lives a long way from the property, anyway. Suggestions on how to find someone local, especially in a little town that doesn't have a Craigslist nearby."

Jill K DeWit:

That's funny, that would be my first thought. There are some companies out there though, like WeGoLook, does that still exist?

Steven Jack Butala:

There's a lot of people who had a lot of things to say about this. Yeah, WeGoLook said-

Jill K DeWit:

Okay, good.

Steven Jack Butala:

One other persons said they have, which I know you use all the time is, the Nextdoor app.

Jill K DeWit:

Oh, that's true, Nextdoor. Oh, that's a good one, you can put in the zip code and see who's there. You need to have them take a picture. You know what it looks like now as you can ask them to take a picture of it and send it back to you with their sign on there.

Jill K DeWit:

I don't know, I would even... You could call a church, offer somebody 50 bucks.

Steven Jack Butala:

20, I was going to say.

Jill K DeWit:

Whoever the janitor is at the church or something like that, who you can get on the phone and to say, "Hey, I know this sounds..."

Jill K DeWit:

I might even call Home Depot and say, "Hey, you know one of those signs on a stick, I'll pay you 50 bucks if you go buy it for me and put it and send me a picture."

Steven Jack Butala:

Any of that.

Jill K DeWit:

Be like, "All right-"

Steven Jack Butala:

At the student-

Jill K DeWit:

"That's kind of weird, but okay."

Steven Jack Butala:

And then again, The Drone, the best person to have them is pay a The Drone person who is going to do the drone shots.

Jill K DeWit:

Yeah.

Steven Jack Butala:

$20 more.

Jill K DeWit:

And then, you know here's a nice thing is, was this Jessica, I think?

Steven Jack Butala:

Yeah.

Jill K DeWit:

This is the only time that you'll forget this. You only have to do it this one time because from now on you'll remember every time to have the photographer do it ahead of time. So that's the positive thing here.

Steven Jack Butala:

But you got to put one on there at all costs.

Jill K DeWit:

It does help, especially if there's a traffic area.

Steven Jack Butala:

Yeah.

Jill K DeWit:

You know, it really does make a difference. Don't put a price on there. Never put a price because A, it changes and B, you want them to call you. So just seems to be a for sale investor special and your phone number. That's really all you need, when the little red sign on a stick doesn't need to be a fancy broker billboard.

Steven Jack Butala:

The less fancy it is, the better.

Jill K DeWit:

It's true.

Steven Jack Butala:

Jack Thursday - We are Zip Code Lucky (LA 1666)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill K DeWit:

Hello.

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 The Valley of the Sun.

Steven Jack Butala:

Today's Jack Thursday and I'm going to talk about how we are all, or nearly all of us are very ZIP code lucky. The way that we send out mailers is very ZIP code-based now and there's tons and tons and tons of information that's broken down by the census and all kinds of other organizations that's free out there about what's going on in any given ZIP code. And the way that it's all organized and orchestrated, you can compare it. There's tons of amazing tools online, especially now because 2020 passed, which is every 10 years they do a census so we got real good, fresh data. Well, I'll get into it in a minute here.

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 that It's free. And don't forget to subscribe on The Land Academy YouTube channel and comment on the show as you'd like.

Jill K DeWit:

Dan wrote, "I am comfortable sending mail with a little higher percentage of listings on LandWatch and Land and Farm, like two to five percent, if the days on market are low and/or I know the area very well. There's one county with 13% listings on LandWatch that I killed it in. It's very rural and I know the area very well. My sales prices are low because I bought super low and now I have a few people that email or call every few weeks to see if I have anything else there. I would not mail a county with a high percent of listings if I didn't that special knowledge of the area or the days of market were not ridiculously low. I also try to diversify a bit, meaning I will stick to the red, yellow, green test on three or four mailers. And then I diverge a slight bit on one of four in a niche area. At least this is what my personal comfort level is for the properties that are 10 to 60 acres of rural land that I target."

Jill K DeWit:

I love it. Perfect. I've got nothing.

Steven Jack Butala:

This is crossing over the line into being a professional land investor. When you're starting to do things that make sense to you and you're going off of the exact Land Academy education, the way that we orchestrate all these mailers and all that. And you're going off into your own thing.

Steven Jack Butala:

But I will tell you personally every mailer I do, I do some wacky stuff like this. And I only send in markets that I really know well and I know what's going to happen. So I think this is fantastic and I put this question or statement on Jack Thursday for a reason, because I think it's really-

Jill K DeWit:

Brilliant?

Steven Jack Butala:

Yep.

Jill K DeWit:

You're doing it right.

Steven Jack Butala:

It's approaching brilliance, yep. Today's Jack Thursday and I'm going to talk about how we are all very ZIP code lucky. This is why you're listening.

Jill K DeWit:

I'm going to just sit back and chill here.

Steven Jack Butala:

So during the red, green, yellow test, which can be ZIP code-based or county-based or really any geography that you delineate, but I always use ZIP codes. I think most people do. I look at what's going on from a days on market standpoint, how many properties are listed for sale versus the universe of properties there. We've got all these matrix or measurement spectrums that either make it red or yellow or green. What's not in there and what I've been staring at for years and done nothing about until recently is all the other stuff that's going on.

Steven Jack Butala:

Which led me to even further thinking, "If you spend a lot of time in a really nasty ZIP code and you can find out which ones are nasty because the census data shows it where the incomes are really low and crime is really high.

Learn More About House Academy Here

At Some Point the Sales Price is Just Too High (HA 1665)

Transcript:

Steven Jack Butala:Steve and Jill here.

Jill K DeWit:Hello.

Steven Jack Butala:Welcome to the Land Academy Show, entertaining real estate 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 talk about how, at some point, the sales price of a house is just too high.

Jill K DeWit:Yeah. Every Wednesday, we shake it up here. We're doing house academy, because we've been looking at numbers, I'm sure you have, too. It's hard not to walk around and just know what's going on in real estate. You go to the grocery store, you see signs, you know there's stuff happening.

Steven Jack Butala:This was prompted because there are some communities in the metropolitan area of Phoenix and really all over the country that are experiencing five to 10% purchase price, sale price growth in a community, a month. So at some point, it cannot just continue to go up because the pool of buyers will evaporate.

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 don't forget to subscribe on the Land Academy YouTube channel and comment on the shows you like.

Jill K DeWit:Kim wrote, "Hi, I'm in the process of purchasing a piece of land, but the seller's deed from 2002 has two properties on the deed. One is their acreage with their house and the other is a parcel I want to purchase. This is a small $1,500 purchase, and I'm hoping to avoid to pay any title agent work outside of the tools we use. Am I safe to purchase this land only and create a deed for the smaller tract? But then the first deed remains in effect for their house. Will my new deed supersede the 2002 deed that remain in effect for the house?" That's kind of a repeat there.

Jill K DeWit:You know what? The answer is yes. Here's what's so funny. People don't know that you can buy from somebody five pieces of property on one deed. It has to be the same grantor, grantee, you know what I'm trying to say. Let me back up. It's coming out all jumbled. Let me-

Steven Jack Butala:I can answer it.

Jill K DeWit:Well, no, I want to answer it. I want to say. The answer is yes.

Steven Jack Butala:In a very positive way.

Jill K DeWit:You just make a new deed-

Steven Jack Butala:You answered-

Jill K DeWit:... with only the legal description of the one that you're buying on it, and that's all that you need to do. You don't have to recreate a new deed, too, by the way, for the other one. There's no reason that they have to do two new deeds. The other deed is there for the one property that they still own, so that is correct.

Jill K DeWit:When we buy properties, I love it. My favorite scenario is when I buy multiple properties from one person in the same county. I can buy 20, depending on what the county will record at one time. Sometimes they have a limit like 10 or 15 or something. They'll say, all right, we can't have more than this many on one deed.

Steven Jack Butala:Really?

Jill K DeWit:Yeah. Sometimes they do have limits.

Steven Jack Butala:I've never heard of that.

Jill K DeWit:Mm-hmm (affirmative). They do. Because it's cheaper and easier, too. So if I have the same seller, everything's all in the same name, I'm buying 10 properties from them, it's one deed, it's one recording fee. And it all happens at the same time. And then when I go to sell them, I just then just sell each one individually just like normal

Steven Jack Butala:In a great way, you answered your own question here, the-

Jill K DeWit:I did.

Steven Jack Butala:Yep.

Jill K DeWit:Yeah, you were right.

Steven Jack Butala:Yep, you were right. Today's topic, at some point the sales price is just too high on some of these houses. This is the meat of the show. This is all interconnected. There's a lot of things that are at play when somebody buys...

I Have 10 Thousand Dollars What Should I Invest In (LA 1664)

Transcript:

Steven Jack Butala:

Steve 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 from the Valley of the Sun.

Steven Jack Butala:

Today Jill and I talk about, well, I have $10,000. What should I invest in?

Jill K DeWit:

This is so funny. So here's where this came from. We're sitting here thinking about out what's going on at the end of the year. We want this last week to be really valuable, some good information for you to ponder. And there's a lot of people on Facebook that have this exact thing. Like, Hey, I've got some money saved up. It's the end of the year. Going into 2022, what should I do? So I wrote down some real answers and some of them are like, what the heck? It's funny. So I will share those, and we'll talk about what we think you should do if you're in this situation.

Steven Jack Butala:

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, and don't forget to subscribe on the Land Academy YouTube channel and comment on the shows you like.

Jill K DeWit:

We forgot to look that up. We don't know where we are right now, do we? Okay.

Steven Jack Butala:

I can look it up while we're-

Jill K DeWit:

Okay, got it. All right. While I'm talking?

Steven Jack Butala:

Sure.

Jill K DeWit:

You're good. Peter wrote, I got a call back on a piece of property that is largely in a flood zone, and some of it is in a regulated flood zone. The original offer price was $8,000 for three acres. And I was thinking about turning around with a revised offer of $1,000. What are the major considerations you all keep in mind when repricing an offer due to flood issues? Thanks for any thoughts.

Steven Jack Butala:

This is very, very, very common and not so specific to the flood issues, but stuff comes up.

Jill K DeWit:

Yeah.

Steven Jack Butala:

A deal comes back. You look it up. Usually on NeighborScoop. There's some flaws. Hopefully they're not fatal flaws like access.

Jill K DeWit:

Right.

Steven Jack Butala:

And so you go back to the seller with a revised offer. In my opinion, Jill's the one who does this, so she'll tell you the way she does it, but this is all how it's handled. And so if you just say all this property sucks, and I know we talked about 8,000, but I'm going to you a thousand because there's flood zone issues. That's not going to work. But if you make a little video, a screen video of you rolling through Google Earth, a screenshot video and narrating why and how the property, where it sits and why the flood issues have dramatically reduced the usability of the property when you price it at 8,000, they're going to take you seriously. And here's why, because whoever buys the property's going to have the same issues. So you're just kicking the can down the road.

Jill K DeWit:

I'm going to have to disagree.

Steven Jack Butala:

No, really? After all that?

Jill K DeWit:

I don't need no stinking video.

Steven Jack Butala:

Really?

Jill K DeWit:

No I don't. You know what? So here's-

Steven Jack Butala:

Throw Jack under the bus week actually.

Jill K DeWit:

No it's not. There's plenty times, Buddy, when you go, "Nope, this is what you do." This is my turn. Because you know what really, I am dealing. I'm on the front line a little more in this scenario. Not that you're not, and you haven't done this for decades, but.

Jill K DeWit:

So here's how it goes now. Number one, do you even really want it? So here's my thing. Is my buyer's pool going to be so darn small, and I'm going to be running around trying to make $3,000 off of my $1,000 when I can just move on. So there's really got to be some other redeeming quality for me to even care. If my 8,000 is now 1,000, now I'm scratching my head going,

Taking Action (LA 1663)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill K DeWit:

Hello.

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 Dewitt broadcasting from the Valley of the Sun.

Steven Jack Butala:

Today, jill and I talk about taking action.

Jill K DeWit:

That's it?

Steven Jack Butala:

That's it. So the new year's is coming up and nothing happens on its own. And I got to thinking nothing happens, forget about land for a second, nothing happens unless we take action. We're talk about that in just a minute here. But before we do, let's take a question posted by one of our members on the landinvestors.com.

Jill K DeWit:

I was going to ask you about your Christmas first. You just jump right in there. Do you know you have a co-host over here? What the heck? Oh, I'm sorry Jill, are you there?

Steven Jack Butala:

I had what I call an amazing Jill Christmas.

Jill K DeWit:

Oh yeah?

Steven Jack Butala:

Yep.

Jill K DeWit:

What's a Jill Christmas?

Steven Jack Butala:

Jill Christmas is, well, I kind of meld the whole Thanksgiving and Christmas thing all together, so we had amazing food. It's was a Jill Christmas. All decorated. Everything's decorated. We had presents. The fire was on. It's right out of a postcard.

Jill K DeWit:

Thank you. All right. So you had a good Christmas.

Steven Jack Butala:

Yeah, I had a great one. How about you?

Jill K DeWit:

I had a great Christmas too.

Steven Jack Butala:

Was it a six out of 10 or an eight out 10?

Jill K DeWit:

Oh, it was an eight out of 10. You know why? Because it's just so nice. Things have calmed down a little bit. Those of you who know us, we've changed states. We've made some changes and I can't tell you what a difference it is. I'm not picking on anybody. I'm going to only share the positive because that's me.

Steven Jack Butala:

I'll bring in the negative if it's necessary.

Jill K DeWit:

Oh good. No, but I have been every day shocked and amazed at nice people. Even Christmas Eve running in the grocery store because you forgot something. And it was like, "Oh no, no, you only have three things. You go ahead of me in line." Oh we're back. At least we're here back. And it's been very, very nice.

Steven Jack Butala:

Since you brought it up, it's just been a crazy year.

Jill K DeWit:

It has been another crazy year.

Steven Jack Butala:

These last two or three months have been very, very nice.

Jill K DeWit:

Crazy, and it better not be the new norm.

Steven Jack Butala:

Yeah. Moving across state lines and getting all new stuff again. Getting all new insurance and all new... I don't need to do that ever again.

Jill K DeWit:

Yeah. And how much did you do and how much did I do? Well, we won't go there on that part, on the insurance part.

Steven Jack Butala:

I did a lot of the man stuff.

Jill K DeWit:

You did the man stuff. I did the phone call stuff. That's very, very true. Okay. Thank you.

Steven Jack Butala:

And don't forget to subscribe on the Land Academy YouTube channel and comment on the shows you like.

Jill K DeWit:

So I think I'm, I hope I say this right, [Basim 00:02:54] wrote, I have a funding partner for a deal and I have informed him that I intended to sell using a realtor. Since the property will be in the investor's name, they need to sign the agreement with the realtor. Can anyone provide an example of a partnership agreement that covers this scenario?

Jill K DeWit:

Yeah. It's in our go to offer... Wait, deal funding. I had to think about that. So in our deal funding stuff, you can find it on Land Academy, also in Land Investors, also on landfunding.com. I think it's all there too.

Steven Jack Butala:

Exactly.

Jill K DeWit:

And that's exactly how we do it, and that's the right way to do it. So if I'm putting up 100% of the money, which I'm often doing. If I'm not, then we're going to, we're going to,

Jill Friday - Jillifying Year End Land Deals (LA 1662)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill DeWit:

Hello.

Steven Jack 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 the Valley of the Sun.

Steven Jack Butala:

Today is Jill Friday. She's going to talk about identifying...

Jill DeWit:

I'm going to talk about-

Steven Jack Butala:

She going to talk about Jillification.

Jill DeWit:

Yep, Jillifying it over the holidays. We got this. It may not be written down, but I remembered, because I have that kind of an amazing memory.

Steven Jack Butala:

Someone did the script wrong.

Jill DeWit:

Like an elephant.

Steven Jack Butala:

I wonder. 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 don't forget to subscribe on The Land Academy YouTube channel and comment on the shows you like.

Jill DeWit:

Am I remembering that right? What the heck is going on over here?

Steven Jack Butala:

I don't know.

Jill DeWit:

It's just like, you know what?

Steven Jack Butala:

It's right before Christmas is what's going on.

Jill DeWit:

It's Christmas Eve. This is airing on Christmas Eve. So am I remembering the elephant right? Does the elephant have a good memory or is that just a saying?

Steven Jack Butala:

Well, I don't know if they do or not, but it is a saying.

Jill DeWit:

I've never actually sat down and talked to an elephant.

Steven Jack Butala:

You know what I learned?

Jill DeWit:

Tell me.

Steven Jack Butala:

Recently, that elephants can find groundwater. They have a sense, like a sense of smell for finding groundwater.

Jill DeWit:

That's flipping cool. I did not know that.

Steven Jack Butala:

And so during a drought, they'll dig. Altogether, they'll dig and get down to the water and survive.

Jill DeWit:

That is so darn cool. Yeah, so it's Christmas Eve. So yeah, I like that you're sporting your Merry Christmas hat. And I'm wearing my Jillify hat for today. So back to the show. Matt wrote, "Can you still get a deal done at the end of the year?" And then [Lori 00:01:39], one of our cool people in Land Academy answered this. And then I'm going to talk more about it too.

Steven Jack Butala:

It's a good little story.

Jill DeWit:

So Lori says, "Oh, it happens." That was his question, then we're just reading one of the responses, and then we'll talk about it. She says, "I had a seven day close on my first house I put under contract on Christmas Eve day, and it closed on New Year's Eve. That title company said it couldn't be done. There were too many forms to get filled up by too many people. And yes, it was back then, by the way." She's like, not to tell you the year, or how old my children are, or how old I am. She said, "This was before email, but still exactly the same as New York is today." That's funny. "So I talked them into letting me deliver the forms and purpose. And I told everyone I was a courier for the title company, and I had to-"

Steven Jack Butala:

Isn't that great?

Jill DeWit:

"I had to wait, and get the form filled out."

Steven Jack Butala:

This is something you would do.

Jill DeWit:

I would do the same thing.

Steven Jack Butala:

Just get it done, man.

Jill DeWit:

This is brilliant. I'm a courier. I'll wait [inaudible 00:02:32] in here. That's awesome. And they said it was one of their easiest closings ever. That's it. That's perfect. That's Jillifying it.

Steven Jack Butala:

This is perfectly on topic today.

Jill DeWit:

Mm-hmm (affirmative). Good one. Thank you.

Steven Jack Butala:

Today's topic is... Well, it's Jill Friday, Jillifying year-end land deals. This is the meat of the show.

Jill DeWit:

So that is one of them. Actually, that's B. So I have three points to make here, and it's going to tie into this question, which is awesome. So end of year, are we even working? Do people buy things?

Jack Thursday - Less Frequent but Bigger Land Deals (LA 1661)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill DeWit:

Hello.

Steven Jack 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 the Valley of the Sun.

Steven Jack Butala:

Today is Jack Thursday. And I'm going to talk about my personal 2022 goals, which are less frequent, but bigger land deals.

Jill DeWit:

I want to hear about some of your other goals.

Steven Jack Butala:

Like try to be a better husband?

Jill DeWit:

No, no, no. Let's see here, find a new hair stylist, because I failed at that one. So you're...

Steven Jack Butala:

Yeah, if you are watching this, you can see.

Jill DeWit:

I got to share this. I walked into a local bar the other day and the sweet, sweet bartender says to me, "Jill, wow. Did you cut your own bangs?" I said, "You know, it might look like that, but no, I did not."

Steven Jack Butala:

When someone says, "Do you cut your own hair?" That's not a compliment.

Jill DeWit:

That's a bad sign. Did you do that yourself? Oh darn. Nope. No, it sure looks like it, but no, I did not slaughter my own hair. So that's one of our things for next year. You know, that's one of the hardest things I have... I wanted dry cleaning. I got house cleaners. I got land... Well landscapers came to the house, so we got a couple wins there.

Steven Jack Butala:

We had a lot of wins.

Jill DeWit:

A lot of wins.

Steven Jack Butala:

Can't win it all though.

Jill DeWit:

We have yet to figure out our trash service, we failed on that one and we failed on the personal hair and all that stuff, we've got to figure that out. I won on a dentist. Don't have a doctor. It's funny, but hey, it's part of moving. It's all right. It's all good.

Steven Jack Butala:

We live in a town that doesn't believe in charging taxes for anything. And they also don't believe in providing any services.

Jill DeWit:

Street lights, and sidewalks.

Steven Jack Butala:

There's no streetlights.

Jill DeWit:

No.

Steven Jack Butala:

There's no sanitation or anything. You have to hire everything out independently. There's literally no sewer systems.

Jill DeWit:

Right.

Steven Jack Butala:

Everything's on septic.

Jill DeWit:

It's hilarious.

Steven Jack Butala:

But it's real cheap to live here.

Jill DeWit:

It's great. Yeah. I wouldn't call it cheap, but once you get past the water and the electric and the gas bill.

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 don't forget to subscribe on the Land Academy YouTube channel and comment on the shows you like.

Jill DeWit:

Ian wrote: If we're looking for infill lots, and there's a lot of lots owned by an HOA, and that HOA looks to be sparsely developed, like maybe 20, 25% of the lots are developed. That's not a good candidate for what we're looking for. Right? In Land Academy 2.0, infill lots, the example Steven shows looks to be lots with houses built all around them.

Steven Jack Butala:

Let me cut to the chase.

Jill DeWit:

Please do.

Steven Jack Butala:

The best case scenario for infill lots. You bought the last lot available in the entire subdivision. Everything else is built on. This country is packed full of failed subdivisions or there's lots of different words for them. Paper subdivisions or where it's 20% developed, and then there're just tons and tons and tons of properties that are for sale, vacant land properties in a sub. When there's an HOA, well, that's just adding fuel to the problem, fire to the... Pouring fuel on a fire.

Jill DeWit:

Making fun of my "going down the rabbit trail"? Now you're doing it. "Pouring fuel on the problem." [inaudible 00:03:51] How about fire?

Steven Jack Butala:

Yeah.

Jill DeWit:

Yeah.

Steven Jack Butala:

So you want to stay out of those HOA driven paper subdivisions,