Land Investment Diversification (LA 760)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

Steven Butala:                   Welcome to the Land Academy show, and happy Friday. Entertaining land investment talk. I'm Steven Jack Butala.

Jill DeWit:                            And I'm Jill DeWit broadcasting from beautiful southern California.

Steven Butala:                   Today Jill and I talk about land investment diversification.

Jill DeWit:                            That's a mouthful. Say that three times fast.

Steven Butala:                   Land investment diversification. I can do it.

Jill DeWit:                            Land investment diversification. Land investment diversification. That's hard.

Steven Butala:                   How complicated could this possibly be, Steve?

Jill DeWit:                            Were you clearly not ... were you going for the SEO on this show or something?

Steven Butala:                   No.

Jill DeWit:                            Does that come up a lot? No one else uses that, that's for sure. If anybody typed in land investment diversification, we would pop to the top. Thank you, Steven, for thinking ahead.

Steven Butala:                   Jill, that's why we have you on this program, to lighten the whole thing up and make sure we don't take ourselves too seriously.

Jill DeWit:                            Wow. That is way too serious. Yeah, I'm here to save everyone, and starting with you.

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

Jill DeWit:                            Okay. Hi Milan. Milan asks, "You have a land you bought for $4,000.00 and self-closed. You sell it for $25,000.00 on a four year payment plan-"

Steven Butala:                   That's good.

Jill DeWit:                            "At the end of your term the buyer asks you for a title close. Title finds some issues and refuses to insure it. Are you obligated to give a refund to your buyer? How would you guys handle a situation like that?"

                                                Well, I have a couple of things to say.

Steven Butala:                   I have a bunch of stuff to say. Go ahead.

Jill DeWit:                            Number one, I happen to know who this person is, and he's been with us, following us, for many, many, many years. I don't ... he's not actually a member-

Steven Butala:                   Oh.

Jill DeWit:                            So I don't know if he's able to do his due diligence like the rest of us do-

Steven Butala:                   Oh.

Jill DeWit:                            And unfortunately, if he did have access to all the things that we do, like with Title Pro and all the stuff that we have-

Steven Butala:                   Oh, Jill-

Jill DeWit:                            If he would have saved himself a little bit.

Steven Butala:                   You're nailing it, actually.

Jill DeWit:                            So, I mean that's my first gut instinct, because that's one of the things we all do, Milan, is we all do our own homework. We're pretty much doing our own title work-

Steven Butala:                   Our own title work, yeah.

Jill DeWit:                            Ahead of time before we act on the transaction, and purchase it ourselves. If you had all that stuff, and you could easily pull a report, or whatever they had just come up, just even going back and checking the transfer of title more than just who you bought it from-

Steven Butala:                   Yeah.

Jill DeWit:                            Because that's what it sounds like happened. I'm guessing you bought it from somebody and it all looked legit at that point, but you weren't able to go back to the person before t...