Land Acquisitions: Just Send Offers to Owners (CFFL 409)

Recording Location: LAT (i.e.  33.838781)  (LONG i.e.  -118.391261)

Jack Butala:                       Jack Butala with Jill Dewit.

Jill DeWit:                           Greetings.

Jack Butala:                       Welcome to our show today. This episode, Jill and I talk about land acquisitions. Just send offers to owners for goodness sake.

Jill DeWit:                           Exactly.

Jack Butala:                       Before Jill gets a little bit angry.

Jill DeWit:                           What the heck, oh about the topic.

Jack Butala:                       A little bit angry about this topic.

Jill DeWit:                           Where are you going?

Jack Butala:                       Everybody loves when you get angry.

Jill DeWit:                           What did you do?

Jack Butala:                       Let's take a question posted by one of our members on the landacademy.com online community, it's free.

Jill DeWit:                           Okay.

Jack Butala:                       Before we do that, let's look at Jill's shoes today.

Jill DeWit:                           Oh gosh, you like these shoes?

Jack Butala:                       Here's what I love about these shoes Jill.

Jill DeWit:                           All right.

Jack Butala:                       They are perfectly you because only you a female, would show up to a photo shoot in these shoes.

Jill DeWit:                           These are Doc Martins by the way. Who knew they still ... the make some cool different Docs.

Jack Butala:                       Best girl ever.

Jill DeWit:                           Thank you I appreciate that.

Jack Butala:                       You're a welcome addition to the boring world of land investing.

Jill DeWit:                           I can still wear Doc Martins, it's okay. All right so here is the question, Michelle wrote, just completed another terms deal on Ebay. The parcel was bought for $750 all in. The terms were $6500. Sold it on Ebay, 30 day auction for the down payment and then continue with the terms.

Jack Butala:                       Excellent.

Jill DeWit:                           The auction ended with the winner had the highest down payment, the bid was $2025 which already paid for the acquisition and then some. Congratulations.

Jack Butala:                       So the down payment was three times the purchase price.

Jill DeWit:                           Exactly and then they still had more money to catch up. The buyer did not want to do terms and asked me invoice him for the entire $6500. Sweet, that's what he wrote.

Jack Butala:                       That's 700%.

Jill DeWit:                           That's, thank you.

Jack Butala:                       700% return.

Jill DeWit:                           What the heck. You know, I got to tell you I'm so happy to hear that there's so Ebay stuff still happening.

Jack Butala:                       Yeah me too.

Jill DeWit:                           Because we always keep it in our list of places to post property but it's not the ... I don't think of it as the number one place like we used to but it's so nice to see it's still working.

Jack Butala:                       Let's just say real conservatively that he made five grand, he made more but it's $5000. He put $5000 in his pocket after he has lunch while he was doing the deal and the whole thing.

Jill DeWit:                           All this costs and mailer fees and all of that.

Jack Butala:                       Let's say he did one of those a month, that's $60,000.

Jill DeWit:                           Not bad.

Jack Butala:                       Anybody can do one deal a month.

Jill DeWit:                           Exactly.

Jack Butala:                       You could do everything one,