Real Estate Lessons Learned From Detroit's Apparent Comeback (LA 1864)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill DeWit:

Hi.

Steven Jack 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 awesome motor city, Detroit. Technically, I'm not really in Detroit right now. We're a little bit Do North.

Steven Jack Butala:

Do North.

Jill DeWit:

... of Detroit, right along Lake St. Clair.

Steven Jack Butala:

Yeah. Good, you're getting it.

Jill DeWit:

Thank very much. I'm getting it. Learning my way around a little bit and it's amazing. And boy, do you people here in Detroit drive fast?

Steven Jack Butala:

This is someone from Los Angeles.

Jill DeWit:

I thought we drove nuts in LA. I was like, "I got to up my game to keep up with you all." It's impressive.

Steven Jack Butala:

I forgot. But yeah, it's always been like that.

Jill DeWit:

Yeah. Man, you guys drive fast. And man, do you have a lot of cool cars around. It's good.

Steven Jack Butala:

Today Jill and I talk about the real estate lessons we've learned in the short time that we've been here from Detroit's apparent comeback.

Jill DeWit:

It's amazing.

Steven Jack Butala:

I have to tell you that we've been in the Detroit area for two days and my opinion has done a 180 degree turn.

Jill DeWit:

Yep.

Steven Jack Butala:

I've been knocking on Detroit and knocking Detroit down on this show since 2015 and it's over. I'm so impressed by what we saw over the last few days to the point where we will be attending the Lions game. One of my buddies is a nicest thing ever.

Jill DeWit:

Well, yeah, when this airs, we will have gone to the Lions game two days ago.

Steven Jack Butala:

Yeah. I was going to explain that.

Jill DeWit:

Oh, sorry.

Steven Jack Butala:

So this airs on Tuesday, but we will see this Sunday prior to Lion's game and I hope they win. But while you're listening to this, you will know.

Jill DeWit:

Exactly. And Jill gets to sit across and stare at Pete Carroll.

Steven Jack Butala:

Because they're playing Seattle.

Jill DeWit:

Yeah.

Steven Jack Butala:

Anyway, to the point where when I lived here when I was a kid, it was very, very unusual or difficult for a lot of reasons to go downtown to a baseball game, and the football stadium wasn't even located here. It was located in way northern suburb. So, I can't wait. We were down there for dinner last night. I can't wait to go back there again. It's so completely redone. And in the show we're going to talk about why and the people that we went to dinner with explained it to us and it's a great story.

And what we can take from it is how to create equity in real estate, which we do, but with every land transaction we do.

Jill DeWit:

Yep.

Steven Jack Butala:

Before we get into it, let's take a question posted by one of our members in the landinvestors.com, online community's free, and I hope you know that we have a full blown commercial printing company to help you get offers to owners out in the mail. In fact, let's call Offers the number two owners.com. We process between 500,000 and a million offers a month, and to get you, and if you're a member or not a member of Atlantic Academy to get your offers in front of offersowners.com.

Jill DeWit:

Megan Mote. "Hey guys, quick question. We received a signed purchase agreement back and after further investigation we decided we do not want it all together. We reached out to the buyer and said, "We're not interested at this time," and they replied, "Then why send a purchase agreement in the first place then?" Does anyone have any suggestions on how to reply to that? I tried searching the groups for this topic [inaudible 00:03:23] I can find it if this has been spoken about already, please help me in the right direction. Thanks so much." You know what I would do?

Steven Jack Butala:

Nothing.

Jill DeWit:

Exactly.

Steven Jack Butala: