Property We Won't Buy No Matter How Cheap it is

Jill DeWit:                            Welcome to The Cash Flow From Land Show. In this episode, Steven and I talk about the property we won't buy no matter how chap it is. Basically, we have some rules to make our acquisitions easy and eliminate any problems for us and our buyers. Welcome Steve. I'm the host today, so I kind of get to run the show.

Jack Butala:                   I'm loving this.

Jill DeWit:                            Thank you.

Jack Butala:                   I'm loving not hosting the show.

Jill DeWit:                            You know, it is really different sitting in this chair and doing it like this. I have to admit, I feel like there's a little more pressure on me to kind of keep everything on task, not go too sideways, although I am the queen of coming up with-

Jack Butala:                   You're just the queen.

Jill DeWit:                            Thank you. You know what? I like that. Thank you.

Jack Butala:                   You're not the queen of specific stuff, you're just the queen.

Jill DeWit:                            It's funny, right this moment, I'll start the off-topic moment, but then I have to reel you back in. It really goes out there because you have fun.

Jack Butala:                   I know. I like it.

Jill DeWit:                            It's all good. All right, so let's talk about ... We've talked about great deals, how much we're going to pay for properties, what we expect, what's interesting is, that doesn't mean that we're spending those prices and not getting quality property. Because that's what this show is about here, and this episode, is we're going to find the best properties with the right qualities and not spend a lot of money for it. Tell us a little bit about the property, no matter how cheap it is, what won't you buy? What does that mean to you?

Jack Butala:                   I'll tell you, the greater point to this topic is, and maybe the title of the podcast might be, what's wrong with the land that you're buying it so inexpensively?

Jill DeWit:                            People think that.

Jack Butala:                   Oh, all the time. Every day. Oh, you can't buy 40 acres for $4,000. There must be something wrong with it.

Jill DeWit:                            Right.

Jack Butala:                   The short answer to what we will not buy under any circumstance, is access. Access is a big issues. We talk about the four As all the time. We try to buy property that has all four As, or at the very least, maybe two of the four. The four As are access, affordability, acreage, and attribute. Is it close to the Grand Canyon, or it's got a water view, or whatever. The more attributes it has, the better, the more acreage in general it has, the better, the more affordable it is, the less expensive it is, the better, and ... What was the fourth one? I don't remember.

Jill DeWit:                            Affordability, access, attributes, acreage.

Jack Butala:                   Properties that I will not buy, I don't care if they give them away, are properties that have absolutely no access in any way. There's several counties in southeastern California that have, for whatever reason, I don't know how they got subdivided or what, but they just have no access, they have helicopter access and that's it.

Jill DeWit:                            It's not like they can't get access, that's the whole thing too. You can acquire access, but it's a process. Am I right?

Jack Butala:                   Yeah. There's one deal that comes to mind. I'll describe the deal to you. This guy is still, I think he's finally off of our potential acquisition list. He inherited the property like so many people that we buy property from do. It's a huge deal. It's like several hundred acres. The guy's basically ready to give it to us, because he doesn't want to pay the taxes any longer...