Number One Set Back for Land Investors (LA 803)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

Steven 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 sunny southern California.

Steven Butala:                   Today Jill and I talk about the number one setback, as we see it, for land investors.

Jill DeWit:                            This is gonna be good.

Steven Butala:                   We intentionally did not converse before the show.

Jill DeWit:                            Exactly. I can't wait to see if we have the same thoughts or differing.

Steven Butala:                   What do you think the chances are that we actually have the same opinion about-

Jill DeWit:                            Eighty percent.

Steven Butala:                   I think it's a pretty good chance-

Jill DeWit:                            I think eighty percent that we're gonna answer the same way-

Steven Butala:                   Me, too.

Jill DeWit:                            Maybe what we're gonna do ... After we do this question I think when you get to the meat of the show can we do a one, two, three blurt it out?

Steven Butala:                   Yeah.

Jill DeWit:                            Okay, good.

Steven Butala:                   Then we can maybe, like, I have like three-

Jill DeWit:                            Then you can explain yours.

Steven Butala:                   I have a super favorite one, but then-

Jill DeWit:                            You have three?-

Steven Butala:                   What's number two and three?

Jill DeWit:                            I only came up with one, it's the number one-

Steven Butala:                   Well, we have all kinds of time. Before we answer the question, no, before we get into the topic, let's answer a question posted by one of our members on the landinvestors.com online community: it's free.

Jill DeWit:                            Matt asks: "I have a property under contract for $10,000, but it's a half a mile from electricity. This will cost $14,000 to run electricity to it. Comps are $25,000. Would the access to electricity change our offer price if the other comps all have electricity at the lot line? I know that you don't need electricity-

Steven Butala:                   Not at all this day and age.

Jill DeWit:                            I could see how someone might even want the property to not have electricity, so fewer people are likely to be neighbors. But that logic, of course, means if you ever want to be my buyers, ha ha, I'm curious what everyone's thoughts would be, thanks."

Steven Butala:                   I have a question before we answer this for you.

Jill DeWit:                            Okay. For me?

Steven Butala:                   Of the 15,000 properties that you and I have purchased and sold-

Jill DeWit:                            Yes.

Steven Butala:                   Closer to 16,000 now-

Jill DeWit:                            Right.

Steven Butala:                   Do you know in even one of those properties how far it is from an electric line?

Jill DeWit:                            Negative. I do not.

Steven Butala:                   Neither do I.

Jill DeWit:                            Next topic.