Real Estate Investment 101 for Beginners (LA 766)

Transcript: 

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hi.

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 real estate investment 101 for beginners.

Jill DeWit:                            This will be good. So, here's what I'm thinking. This whole week, it's 101, 202, 303, if I'm not stealing your thunder-

Steven Butala:                   Yeah it is.

Jill DeWit:                            So, 101 is, think like a freshman, and we're gonna go ... So, this week is freshman, sophomore, junior, senior, and master's, right? Because we'll do-

Steven Butala:                   I call it real estate education week.

Jill DeWit:                            Because we're gonna do 500 level, so you're in your master's program at that point.

Steven Butala:                   So, if you're already buying apartment buildings but you're not enough, then maybe you can skip to 303. 404. Or you can listen to the beginning.

Jill DeWit:                            Yeah. There's always gonna be something.

Steven Butala:                   We'll all about sending offers to owners here.

Jill DeWit:                            Yeah. There's always gonna be something that you pick up, even if you went back and picked up, we all know that. Every time you start something new, you're like, oh, I know it all.

Steven Butala:                   Yeah.

Jill DeWit:                            Right? I have so many members, too, that have started with us, they're like, oh, I knows this all. I've been here, I've been there, I'm doing all this stuff. Then, oh my gosh, I totally missed that.

Steven Butala:                   Yeah.

Jill DeWit:                            So, it's huge.

Steven Butala:                   Including me.

Jill DeWit:                            Yeah, including me.

Steven Butala:                   We're doing a deal right now where I'm learning tons of stuff on it. I didn't know we could subdivide it like we can.

Jill DeWit:                            Exactly.

Steven Butala:                   Before we get into it, let's take a question posted by one of our members on the land investors online community. It's free.

Jill DeWit:                            Okay. So, Brian asks, "I'm looking at picking up a five acre parcel in Kern County, California. Pretty much barren wasteland right next to a solar plant, 45 minutes outside the nearest city. I've done my own title search and I'm confused by finding one original party in 1969 selling to another, and this parcel has deeds exchanging ownership a number of times. But it looks like the one party," I'm not gonna say the name-

Steven Butala:                   Yeah.

Jill DeWit:                            "Mr. Blank sells it in 1970, buys it again three years later, sells it it a few years later"-

Steven Butala:                   Welcome to our world.

Jill DeWit:                            I'm questioning it's probably the, gives it to the family member-

Steven Butala:                   Yeah.

Jill DeWit:                            Then he got it back-

Steven Butala:                   Kid, a family drops out of college-

Jill DeWit:                            Then, yeah, dad takes it back.