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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,

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SFR vs Multitenant Investments (LA 1660)

Transcript:

Steven Jack Butala:Steve and Jill here.

Jill DeWit:Hi.

Steven Jack Butala:Welcome to the Land Academy Show, entertaining land and 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 Jill and I, we're going to talk about houses versus-

Jill DeWit:It's really the House Academy Show.

Steven Jack Butala:Oh, yeah. It's the House Academy Show today.

Jill DeWit:Yeah.

Steven Jack Butala:Houses versus apartment buildings. The name of the show is SFRs versus multi-tenant investments.

Jill DeWit:Mm-hmm (affirmative). Before we get into it, I have a question. Do you use all your luggage for hauling things other than clothing? Because that's what seems to happen to all of our luggage. I had to hold on, physically hold back my one good rollaboard because he wanted to fill it up with stuff.

Steven Jack Butala:Ammunition's really heavy, and the easiest thing to haul it around in that I found is suitcases.

Jill DeWit:The very nice Travelpro luggage that I have. And he tries to take them all. I'm like, "You can have them all, but you got to leave me one." I am not going to travel on a trip and have my clothes, have gun powder on my clothing when I unpack my suitcase.

Steven Jack Butala:It turns out men and women are real different.

Jill DeWit:Yep, exactly.

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 our Land Academy YouTube channel and comment on the shows you like.

Jill DeWit:Amy wrote, "Has anyone run into an issue with Redfin not having matches for zip codes in a county? Doing the Red Yellow Green Test. I wasn't sure if there's an alternative. I'm new to this." This is you.

Steven Jack Butala:People, especially really young people, believe that the internet sometimes is like a God-given right, like utility companies, like you turn the tap and the water comes out. It's a public service.

Jill DeWit:This should work. I just spent $1,200 on the 13 Pro, and I don't have 5G at this moment.

Steven Jack Butala:The internet is a collection of independent businesses, like Land Academy or LandStay, and we're here to make money. And so Redfin's no different. Redfin chooses who they do business with based on where a lot of real estate deals go down.

Jill DeWit:Like where the money is.

Steven Jack Butala:Which are cities. They're in bigger cities. The bigger the city, the bigger the real estate deals. We're in volume of real estate deals. Redfin has made a strategic decision, and I don't disagree with them at all, that they're just not going to have contracts with certain MLSs that are rural because they don't care. And that's fine.

Jill DeWit:They can do that.

Steven Jack Butala:Realtor.com is run by the National Association of Realtors and they have 100% coverage of the entire country. Zillow, 100% coverage from what I can see. Redfin has just got, I don't know, it's probably 60 or 70%, but it turns out we buy and sell rural vacant land a lot. So Redfin is not... Although they have the greatest data there ever was, they don't have 100% coverage. I don't know how else to say it.

Jill DeWit:No, that was fine. That was good.

Steven Jack Butala:Today's topic, SFR versus multi-tenant investments. This is the meat of the show. Here's the deal with commercial real estate. Here's how you make money in commercial real estate.

Jill DeWit:Okay, I'm going to settle in now.

Steven Jack Butala:You buy a piece of property. I don't care if it's an apartment building, a skyscraper, a trailer park. Doesn't matter. It's got tenants, and they pay every month, and you go about your merry way. It's a terrible return on investment if you line it up against any company, like a manufacturing company or a company like Land Academy. It's just not a good...

Only You Know the Meaning of Time Well Spent (LA 1659)

Transcript:

Steven Jack Butala:

Steve and Jill here. Hello. Welcome to Land Academy Show, entertaining land, investment talk. I'm Stephen Jack Butala.

Jill DeWit:

And I'm Jill DeWit broadcasting from the Valley of the Sun.

Steven Jack Butala:

Today Jill and I talk about only you, know the meaning of time well spent.

Jill DeWit:

By the way, if you don't recognize us. Yes, we did both get haircuts.

Steven Jack Butala:

Jill's is better.

Jill DeWit:

Yep. Well, no, I didn't mean yep. Sorry. I didn't mean it like that. I didn't know that's what you were going to say. I had yep already coming out. So yeah.

Steven Jack Butala:

We just moved back to Arizona from California and we got to find new people to do our stuff and...

Jill DeWit:

Oh yeah. That's a process.

Steven Jack Butala:

What do you say? You know every guy's gone through this. It's like, "Yep. I can see it in the mirror. It's all going to hell. I'm watching it unfold".

Jill DeWit:

I'm in the chair and I'm trapped. It's like you can't...

Steven Jack Butala:

Women ever go through this?

Jill DeWit:

Yeah. Yeah. Oh, I'm sure. Yeah, that does happen. It does. You're like, "And I'm trapped, it's not like I can get up and walk out right now. I'm wearing a robe", kind of thing. It's just not going to work. Yeah. I've had massages like that where I'm like, "Crap, this person's beating me up. I don't know what to do. I'm afraid to say anything".

Steven Jack Butala:

Well, I've had the opposite. I've had the opposite. It's like, this is a 13 year old girl. She couldn't massage a...

Jill DeWit:

Raccoon?

Steven Jack Butala:

Yeah. A raccoon.

Jill DeWit:

All right. Again, I'm not drinking.

Steven Jack Butala:

You're so dirty.

Jill DeWit:

Not drinking. It may sound like it, but I'm not drinking. Go ahead.

Steven Jack Butala:

But Jill's hair, I've been saying this for a long time, Jill with age, she gets prettier and more elegant. And I just get fatter and more angry.

Jill DeWit:

Hey, before we get into it, let's take a question posted by one of our members on the LandInvestors online community, it's free. And by the way, don't forget to subscribe on our YouTube channel and comment on the shows that you like. Michael wrote, "I've come across a county where I can't figure out how to filter out parcels with improvements in DataTree. And I thought I'd check with the community". How do you filter out improvements in DataTree? There are a couple different ways, you want to explain this?

Steven Jack Butala:

Here's a real deal. Here's the sad, terrible truth about data, all data. There's exceptions, and so the vast majority of it goes great, but there's always exceptions. And DataTree is no different than RealQuest or TitlePro or any other data aggregator. DataTree does not create this data, they just aggregate it. And so the majority of what we use in DataTree comes from the assessor. And the LA County assessor does a darn good job at data, but rural county X, in let's say, Arkansas, it's not that important to them. It's not good or bad. It's just how it is. And so if you can't get the data that you need to send out a mailer in the format that you need it, go to another county. This happens to me all the time. And I've been millions and millions and millions of mail merges and data that we've utilized over the years, Jill and I. And to this day, we just get bad data sometimes.

Jill DeWit:

What if you're dead set on the zip code? Could I download a couple lines of the data, follow me on here? I can download it and I can see all the columns all the way across and I can maybe figure out, "Oh, they don't use these use improvement percentage, but I see they fill in doors or some kind of structure". I can figure out something that they use. Is that a possibility?

Steven Jack Butala:

This is before I sat down to record this, I looked at a data set that I ordered from Concierge Data. It's 45 units,

Taking Land Acquisition Orders from a Single Buyer (LA 1658)

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, Jill and I talk about taking land acquisition orders from a single buyer.

Jill DeWit:Oh my gosh. This is so funny because I think we have different opinions on this. I think, we started to talk about this for just a few seconds before we sat down, and turned everything on and he's like, "Why is this bad?" I'm like, "Where do I start?" So, hold on. I have a lot to say about this.

Steven Jack Butala:I made a career out of taking acquisition orders for commercial property when I started out.

Jill DeWit:And this is a tad different. So I'm going to share that with you. But before we do that, first I want to say, thank you very much, the gift basket on the shelf behind me is from Alex Peak. Did I say [inaudible 00:00:55] or should I say... [Alex Plow 00:00:56]. Thank you very, very much. We got your gift basket, and we super appreciate it. Haven't really cracked into it yet. I thought I just put it on the shelf for today, and then I'm going to crack into it later.

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:Peter wrote, "anybody have experience incorporating their kids into their planned business. I have two girls, age 13 and nine, who both have demonstrated a lot of interest, which is super exciting to me. I know they are young, but they are both motivated and hardworking. They started a couple of side hustles." They're 13 and nine. This is awesome.

Steven Jack Butala:I did that at that edge too.

Jill DeWit:"Over the last year. And now it looks like they want to edge into the world of land investing. Any thoughts?" I got to say, what was so fun is we had our, our dear Tony in the last career path had his daughter. She's 16, I think?

Steven Jack Butala:15.

Jill DeWit:15, Yeah.

Steven Jack Butala:Probably 16 now.

Jill DeWit:Probably 16. Anyway, his daughter in it with him showing up on the calls, the timing worked out great. She was obviously home for school and jumped in this with dad. And by the way, she dug this up for dad. So I believe this to be true. She, and dad were talking about dad was retiring from one career, looking for a different career and something they could do together and teach her. And she found us and found Land and brought this to her dad. And now they were in career path. So I think it's great.

Steven Jack Butala:We have three children, Jill and I, and two of them do very well.

Jill DeWit:They're in it.

Steven Jack Butala:I've always said to all three kids. "I really love two of you."

Jill DeWit:Exactly. It changes all the time. You know what's so funny, though? Is that they either they don't get it now, they might get it later. So number one, and number three were in the business. Number two, wasn't so interested. We thought now number three could care less. And number one and number two are in it. So we're hoping that number three will someday like it, maybe not. And that's okay, but if they've got an interest, go for it. I love it.

Steven Jack Butala:Here's my real answer to this. Kids need to, all kids, I think, need to have a terrible, terrible job. When they're young, they need to fail and get a boss who's awful and just see the real world and what it's like. And then they'll come back into something like this and really understand that. Maybe appreciate its value. Yeah. Our number three is 18. He's got a terrible restaurant job right now, and they work him to the bone. He gets paid pretty well, but, and it's opening his eyes about what goes on in life,

Jill Friday - Quitting Like Prince Harry (LA 1657)

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 talk about... Well, it's Jill Friday, and she's going to talk about quitting like Prince Harry.

Jill K DeWit:

It's so funny. So as I started to say, I was reading an article on my phone the other day and I just had this disgusted look on my face. And this one says, "What? What's going on? What's got you so mad." I'm like, "You got to hear this one." And it's Prince Harry promoting quitting. And I'll tell you more because I have the article pulled up here. We went into a long discussion on... And you've heard him say this before, I'm going to quote you, "When is that okay?" So, we're going to talk about when is that okay and then in these situations, it's not okay.

Steven Jack Butala:

First, 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:

Jessica wrote, "I just called a small city hall about a property and the mayor answered the phone." This is awesome. This sounds like our office sometimes. I'm like, "Let me answer the phone. Let me answer the phone." They're like, "Is this Jill?" "Yeah." He had a great conversation about a lot I just got a contract on. It's residential but they really want more business. The four lane road it's on gets 11,000-

Steven Jack Butala:

Excellent.

Jill K DeWit:

... traffic cars.

Steven Jack Butala:

Traffic count per day.

Jill K DeWit:

Per day. It's pretty good, right?

Steven Jack Butala:

That's great.

Jill K DeWit:

There's a new Dollar General three lots away.

Steven Jack Butala:

Oh man.

Jill K DeWit:

I know nothing about commercial.

Steven Jack Butala:

Geeze.

Jill K DeWit:

Does anyone have any insight as to how to go about making the most of such an opportunity?

Steven Jack Butala:

Yes.

Jill K DeWit:

That's hilarious.

Steven Jack Butala:

I have some insight.

Jill K DeWit:

I hope you have a [inaudible 00:02:06]. Per the mayor, "This is a great spot." Per Mayor Joe, "This is where you want to be."

Steven Jack Butala:

As long as you're buying it right, and I mean really buying it right like we do here at Land Academy then I'll... Call us Jessica, but I'm sure-

Jill K DeWit:

You got people.

Steven Jack Butala:

... But I'll tell-

Jill K DeWit:

You know-

Steven Jack Butala:

I know how this goes in discord.

Jill K DeWit:

You got it.

Steven Jack Butala:

Somebody's already-

Jill K DeWit:

You don't need us.

Steven Jack Butala:

Yeah. Call us just if you need us. That's what I mean.

Jill K DeWit:

Yeah. I'm sure you don't.

Steven Jack Butala:

Today's Jill Friday, quitting like Prince Harry. This is the meat of the show.

Jill K DeWit:

Okay. So, it's Jill Friday. And so I promise this is not just British tabloid stuff, you're going to see the value here, but it started with that and just makes me crack up. So the whole article was, it popped up in my thing, and it's it says this was December 6th. It says, "Prince Harry encourages people to quit their job if it doesn't bring joy," what?

Steven Jack Butala:

Because he's qualified to do that.

Jill K DeWit:

What, what, it's just hilarious that you should work at jobs that you enjoy and that leaving a miserable career is really good for one's mental health. And this is an interview he's doing with Fast Company magazine. So this is all high level stuff. But I'm like, wonder if I was the one doing the interview. I'd be like, are you kidding me? This is hilarious. And, by the way, it talks about him, who he quit his own job as a senior member of the British Royal family. And that job resignations during the pandemic aren't a...

Jack Thursday - Land Academy Word Association Test (LA 1656)

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 is Jack Thursday. And I'm going to talk about this little game that I devised called land academy word association test.

Jill K DeWit:

Can I ask what the outcome is supposed to be of this?

Steven Jack Butala:

Well, okay. I mean, since you brought it up, you should take this question real quick and then I'll get all into it. But here's a little prelude.

Jill K DeWit:

Okay.

Steven Jack Butala:

If I say customer, and you say no. If I say, not you necessarily, Jill, because you won't. But if I say, I don't know, 10 or 15 of these words, like customer $50,000 a month. Ranch land. Nope, nope, nope, nope .

Jill K DeWit:

Is this to help you decide if you're a land person or not?

Steven Jack Butala:

Yeah.

Jill K DeWit:

Ah, Change. Okay.

Steven Jack Butala:

Ferrari.

Jill K DeWit:

Nope.

Steven Jack Butala:

Calendar.

Jill K DeWit:

Yeah.

Steven Jack Butala:

You know? Exactly.

Jill K DeWit:

Got it.

Steven Jack Butala:

Before we get into it, let's take a question posted by one of our members on the land investors.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:

Tony wrote. I have a signed agreement from an individual who bought a property on a Sheriff's Tax resale deed in Texas. What issues could I come across if I buy this?

Steven Jack Butala:

All right, this is a very common thing. Full disclosure. I've done thousands and thousands and thousands of transactions like this with almost no incident at all, but like everything, you just need to know the facts. So what happens is people stop paying their taxes or they die or both. This is property taxes now. This is not income tax. These are property taxes, and they're associated with the land, not the person. Income taxes are associated with a person. Debt on property is associated with a person in the form of a personal guarantee. So this gets very misunderstood. If Jill has a piece of property, she's owned it for 10 years. She stopped paying taxes a lot of years ago. I purchase it from her, and she says, great. Here's the deed. Congratulations. Thanks for the check. Good luck.

Steven Jack Butala:

And I inherit the taxes that our associated with that property stay with the property. So now she's done, and she wipes her hands on the whole thing. Now it's my job to make good on the property taxes as a new owner. So what happened here is somebody stopped paying the taxes altogether. There was no purchaser sale. It went all the way back to the taxing authority, according to state statutes, sometimes local statutes, but mostly state. And the sheriff in Texas literally stood on the court steps. Maybe the sheriff themselves did it, or maybe they hired a company. Sometime lawyers do it in Texas. And they sold the property. Well, Tony here's buying it from somebody who bought it at that sale. And he's wondering what the problem is. So here's the issue. It all comes down to chain of title. In the eyes of the chain of title, this property has a break in the chain of title. And meaning that it didn't convey over its life with the title insurance policy, a title insurance policy, a title insurance policy.

Jill K DeWit:

Because they had to take it back, like forcefully take it back.

Steven Jack Butala:

Yeah. Got foreclosed on is what happened for property taxes, tax lien. So now he's buying the property, and he wants to, as much as he can, Tony here wants to, as much as he can.

Jill K DeWit:

Protect himself.

Steven Jack Butala:

Market the property with marketable title. That's the whole key here.