Land Pin Goals for 2017

Jack Butala: Land Pin Goals for 2017. Leave us your feedback for this podcast on iTunes and get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening.

 

Jill DeWitt:                          Jill DeWitt with Jack Butala.

Jack Butala:                         Hi.

Jill DeWitt:                          Welcome to our show.

Jack Butala:                         [inaudible 00:00:04] today. Hello.

Jill DeWitt:                          In this episode, Jack and I talk about LandPin goals for 2017. Wonder what else Jack is going to bring up as far as goals for 2017. I am curious. This is going to be ...

Jack Butala:                         I like this [crosstalk 00:00:18] this yet.

Jill DeWitt:                          This is going to be a great show. First, let's take a question posted by one of our members on LandAcademy.com online community. It's free.

Jack Butala:                         Michael asked this question. "I'm looking at buying some OTC properties (which is over-the-counter). What are the benefits and drawbacks of buying properties this way? Would you recommend it to a beginner?" Jill?

Jill DeWitt:                          Nah ... Well, you know what? Actually, I would.

Jack Butala:                         What are over-the-counter properties?

Jill DeWitt:                          Properties that were taken back by the county, usually for non-payment of taxes. Like always. Now they're available to purchase. Some counties, it's pretty darn easy to go there and just look up a list and see the property and see the purchase price and see if there's a bidding thing or if you need to go through the board of supervisors, when their meetings are. All kinds of good stuff. So, I actually think this is not a bad way to pick up some properties.

If you buy 20 here, keep in mind, you're not going to have a varied- and you're new, you're not going to have a varied website presence because you have 20 properties in the same county. That's not going to look as pretty and maybe entice as many people. But gosh, pick up a few here that way to beef up your inventory. I think it's great.

Jack Butala:                         All right, so over-the-county properties, back tax properties in general are a great thing. It doesn't preclude you from doing any other work that you have to do any other way. You still have to go through due diligence period and review the thing. I should say there's two types of over-the-counter properties, tax deed properties and tax lien. This is primarily tax deed, where the county actually owns it and when you buy it, you buy the deed, you buy the property. A lien is a different, more complicated process. Usually, way more economically beneficial, but is way beyond the scope of what we're talking about here.

Yeah, it's a great thing. Here's a problem, you're not learning how to scrub data.

Jill DeWitt:                          It's true.

Jack Butala:                         And that's what you need to be learning how to do, especially if you're brand new. That's what this is all about. I think it was yesterday or the day before, we talked about a show- or we talked in a show about [countertuitive 00:02:36]. Oh, it was the secret sauce show. I know this doesn't sound- the first time you hear this, it doesn't sink in, I'm sure of it. The first 25 times I heard it and then when I started saying it, it still didn't fully sink in, but please listen.

You are in the data business. If you want to succeed at this, you need to learn how to use data and scrub data and get offers in the mail. That's what's going to make this a long term career for you. Buying over-the-counter properties, there's a lot of over-the-counter properties right now because we came out of this economy, a lot of properties went back. That is going to dwindle, I guarantee it. That way of buying properties is pretty inconsistent.