New Weekly Live Informational Webinar (LA 1365)

Transcript:

Steven J Butala:

Steve and Jill here.

Jill K DeWit:

Hello.

Steven J Butala:

Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.

Jill K DeWit:

And Jill DeWit, broadcasting from sunny, southern California.

Steven J Butala:

Today, Jill and I talk about Jill's new weekly live informational webinar. I described it a little bit yesterday, a week or so ago. Jill did kind of a live free Facebook, YouTube, hour-long talk about one specific topic. In that case, it was how to adjust your purchase price, adjust it down after you send an offer out based on looking at the property saying hey, it doesn't have access or there's some issue with it. How to successfully deal with that and accomplish it with a seller without having the seller's mind blown.

And so it got a massive positive response. And so everybody was kind of typing in what else Jill could provide, what other types of little, maybe 30 minute, free, little tiny components of buying and selling land successfully. And it caught on. It caught on because Jill responded to it.

Jill K DeWit:

Yeah. The month before, it was due diligence. I'm trying to think what I did before that too. I've been doing it every month. And then we realized that there's just such a demand that people are saying can we do more? And so I was already thinking about it. And we'll talk more at some other time.

Steven J Butala:

You notice when people... People say thank you to us all the time, but when they say, "Hey, you know, that was awesome, but I would love to know about acts." And they start giving us topic ideas. As crazy as it sounds, it's hard to come up... It's time-consuming to come up with topic ideas that people respond to well. There's all kinds of stuff I'd love to talk about, but no one's going to listen to it all.

But when they tell you what they want to hear, when you tell us what you want to hear, we'll produce it. So please tell us. 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 K DeWit:

Carly wrote, "Hi, other than looking at lot lines. How do I find out if a piece of land can be parceled out? Is this a hard process? Does it depend on the state/county? I'm looking in blank county, blank state, 50 acres." You're welcome.

Steven J Butala:

Subdividing, or she says parcel out, is complicated as hell. And it's so intriguing, I'll tell ya. You know, all of us, at some point in the land business, me included, take a look at a 50 or 40 acre property. And you say, you know what, I can buy this 40 acre property for 25,000 bucks. I can create 40 one acre properties, selling for $10,000 each, and retire.

Jill K DeWit:

Sounds great.

Steven J Butala:

Let me tell ya.

Jill K DeWit:

Sounds easy. No problem.

Steven J Butala:

I'll tell ya, that happened in the forties and fifties and sixties out west a lot. But there were no regulations at all. And it was very, in some cases, very irresponsibly completed or executed. And so a lot of laws were created and rules were created to stop people with good intentions... Two of them are in front of you right now, from parceling out... We're going to call it parceling out property. The correct way to describe... There's two ways to split property; parcel split and subdivision. And subdivisions are probably where most of you are listening or watching right now, where it's a subdivided property. You can sort of see it from a top-down. It's tiny little properties made out of... And there's a big, huge two year process that goes on with that.

Parcel split is a different story, where you've got properties that are way, way, very rural, and you can take one property and maybe cut it in half. Those are all based on old farm or agricultural rules where your daughter gets married and you ice out 40 acres in the back for your daughter and her new husband to farm it.