Post Transaction Communication (LA 1429)

Transcript:

Stephen Jack Butala:

Steve and Jill here.

Jill DeWit:

Hi.

Stephen Jack Butala:

Welcome to the Land Academy Show. Entertaining land investment talk. I'm Stephen Jack Butala.

Jill DeWit:

And I'm Jill DeWitt broadcasting from sunny Southern California, for me.

Stephen Jack Butala:

And Arizona.

Jill DeWit:

Anyway.

Stephen Jack Butala:

Today Jill and I talk about post-transaction communication and we're also trying out new software. So we'll see how this goes.

Jill DeWit:

Exactly.

Stephen Jack Butala:

Sometimes it's appropriate, I think, when the deal is all done to talk to a seller. And when a buyer buys property, it's appropriate post transaction to talk to them too. Jill is going to tell us all about it. Although my personal opinion is that it's not that common, but we're going to find out from the expert. 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 and if you're a Land Academy member, please join us on Discord, which is getting more popular by the minute. I'm happy to report.

Jill DeWit:

I saw you in there just a little while ago. Lucas wrote, after five months, 4,000 letters, and five completed assignment deals, I finally got a deal that I was able to self-fund and now it's under contract to sell. It feels great.

Stephen Jack Butala:

It's a beautiful way to say it's working.

Jill DeWit:

Exactly. My offer was for a property that was already listed. The seller and I couldn't agree on a price. However, he had a tiny parcel in a nearby county that he was also wanting to get rid of. It was so tiny that I wasn't sure if anything could be done with it, but it was right downtown in a nice community directly off main street. City zoning allows for trailers and modular homes, so I went for it.

We agreed on a price. Closed quickly. I put it up for sale. I put up a for sale sign and it was under contract to sell within a week. Never even had time to get my posting online. Bought for $3,800 and sold for $9,000. Now I have enough cash to go back and try some deals that I missed from my first mailer. Again, I owe a debt of gratitude to this community. Your examples, keep us going. Thank you. How cool is that?

Stephen Jack Butala:

It's kind of a mic drop posting.

Jill DeWit:

Exactly. So it wasn't really a question. It was really like, hey, here's my story. I love it. I'm so glad, how great is that [crosstalk 00:02:39]

Stephen Jack Butala:

Congratulations Lucas, that's fantastic seriously. I'm very conscious now, Jill of the words that I use, because yesterday we had our Thursday webinar and some of the members reported... Our regular members reported to us that they have a side drinking game going on because it's kind of at night, based on the words that Jill and I say probably too often. So I just said fantastic and I know that's one of the drinking words.

Jill DeWit:

Yep. Okay. Everyone now you got us started. Now we're going to come up with our own drinking game.

Stephen Jack Butala:

Yeah. [crosstalk 00:03:20] I mean, this airs at 3:00 PM. So I hope there is not that much drinking, but if you're listening to this at nine o'clock, as Jill says, drink yourself silly.

Jill DeWit:

Yep. Exactly.

Stephen Jack Butala:

Today's topic, post-transaction communication. This is the meat of the show. So like I said, in the intro, Jill, when do you think, is it appropriate? Or do you have communication right now with anybody that consistently they like to do as a friend, that you've done a deal with either on the buyer or the seller side.

Jill DeWit:

Yes.

Stephen Jack Butala:

You really do?

Jill DeWit:

Only one and it's a personal transaction. That's the only reason why.

Stephen Jack Butala:

Like a primary residence?

Jill DeWit:

Yes.

Stephen Jack Butala:

You're not going to tell us?

Jill DeWit:

And she happens to be the lender. So right now she's my best friend.

Stephen Jack Butala:

Oh,