Six Steps to Getting Your First Land Deal Complete (LA 1733)

Transcript:

Steven Jack Butala:

Steven Jack Butala here.

Jill K DeWit:

And Jill DeWit here.

Steven Jack Butala:

Welcome to the Land Academy Show, entertaining land investment talk. Oh, I already said it. I'm Steven Jack Butala.

Jill K DeWit:

That's okay. And I'm Jill DeWit, broadcasting from the valley of the sun.

Steven Jack Butala:

Today, Jill and I are talk about the six steps to getting your first land deal complete. Super popular question. We just got done, Jill and I, wrapping up the most recent Career Path, I guess it was Career Path number three.

Jill K DeWit:

Yep.

Steven Jack Butala:

And we always follow this format throughout Career Path and we leave no detail out. So I figured we'd just do a short summary here about how to get a deal done.

Jill K DeWit:

That's great. Can I pause for a second and just let everybody know, since you mentioned Career Path, that Career Path number four is open. And by the time this airs, I believe I'm still going to have some seats. So if you are interested, go check out landacademy/careerpath, and you'll find out all the details there about what it is, what we're talking about. It's basically, Land Academy is like a self-study program. This is the opposite of that. If you want to really talk to us and dive in and have discussions and ask questions throughout the whole process and then find out what we're working on right now today, that's Career Path.

Steven Jack Butala:

Well, if you want this to be your career, then Career Path, buying, selling land is your career, then you should consider Career Path. Whether you're brand new or you've done 180 deals.

Jill K DeWit:

And you retired from something else.

Steven Jack Butala:

Sure.

Jill K DeWit:

Or done, you know, there's everything in there. Cool.

Steven Jack Butala:

Before we get into it, let's take a question posted by one of our members on landinvestors.com online community is free. And did you know that Jill and I personally.

Jill K DeWit:

We just answered that.

Steven Jack Butala:

Oh, you're fast.

Jill K DeWit:

You can skip that part. Hey, by the way, I want to apologize real quick here. Before I read this question, I may not sound like myself.

Steven Jack Butala:

Jill's been working. This month, for some reason, we have bought and sold a ton of property. And Jill's been on the phone-

Jill K DeWit:

For some reason.

Steven Jack Butala:

Selling.

Jill K DeWit:

How about, I'm doing a good job. What do you mean for whatever reason?

Steven Jack Butala:

Well, because Land Academy works. And we sent a lot of mail out and we're buying and selling property. That's what I mean.

Jill K DeWit:

For some reason, that's hilarious.

Steven Jack Butala:

Michael asks.

Jill K DeWit:

All right. Michael wrote, do you send mail to properties in a flood plain or do you exclude flood plain properties in DataTree?

Steven Jack Butala:

Great question. You cannot exclude properties that are in a flood plain in DataTree or any other assessor data set. Here's the deal. Here's a real big picture question here. The issue is assessors collect data about properties that's important to them so that they can report that data to a treasurer who assigns a property tax amount. And for whatever reason, for better or for worse, properties that are in flood plains, don't matter to them. And so we can't capture a data set. In the future, we might capture a data set on that, but you can't exclude or include that for some reason. You know, some of the things that are really important to assessors are, is there a structure on it? Is it improved? Is it a vacant piece of property or does it have a house on it or does it have an office building on it or a hospital? So those are the way that they assess taxes.

Jill K DeWit:

I have-

Steven Jack Butala:

You don't have to raise your hand. I don't know when, that's just hilarious.

Jill K DeWit:

Okay.