Start to Finish Land Deal Reviewed (LA 957)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Howdy.

Steven Butala:                   Welcome to The Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.

Jill DeWit:                            I'm Jill DeWit, broadcasting from sunny southern California.

Steven Butala:                   Today, Jill and I talk about a start to finish land deal, and we'll review it every little step of the way for you.

Jill DeWit:                            Exactly. I've got numbers.

Steven Butala:                   Jill diligently did a tremendous amount of calculation and note taking prior to the show, unlike most shows.

Jill DeWit:                            What are you talking about? I do ... And [inaudible 00:00:31] the other day. I do.

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

Jill DeWit:                            Where are you notes, Steven? I don't see any notes on your side of the desk here, so just got to say.

Steven Butala:                   You know, I've never been a note taker. People in school ...

Jill DeWit:                            You know what it is? It's me. "Jill, will you write down?" Just kidding.

Steven Butala:                   No.

Jill DeWit:                            I'm just kidding.

Steven Butala:                   I never treated you like a secretary ever.

Jill DeWit:                            I know. I know.

Steven Butala:                   You've been my partner in this from day one.

Jill DeWit:                            I know. Thank you very much. Okay.

Steven Butala:                   This question's a little long, I have to tell you.

Jill DeWit:                            Thank you. I will ready.

Jill DeWit:                            Dustin asks, "Hi, Steven and Jill. Our membership to RealQuest Pro through Land Academy offers us an enormous amount of helpful data when pulling lists. Thank you, by the way, for this. When pulling a list under Custom Search, we always pick Property Detail on the left-hand side under Report Selection. I've noticed there's also another selection under Report Selection called Homeowner Association. I would personally love to have HOA/POA data when downloading my lists. I prefer not to buy rural vacant land located in HOAs and POAs.

Jill DeWit:                            Currently, the only way to figure out the HOA status with each property is to see if there is a subdivision listed when we download the list, and then Google it in hopes of finding a web page or some other source indicating it is an HOA. Or we can ask the seller, or the county assessor, or the recorder, but all other this takes all to the time and phone calls. If RealQuest Pro has this data, then is it possible for them to include it with our membership? This way, we can easily scrub it out. Or do you have a quick and easy way to find HOA/POA info on the properties outside of this route. Thank you."

Steven Butala:                   This is an incredibly brilliant question. I've said this a thousand times on the show before. I'll say it again. I can tell this person, who's a relatively new member, is going to kill it, just by the depth and how this question is written. Here's the deal. RealQuest Pro is an aggregator of assessor data they take off the assessor database, the tax roll, and they add some stuff to it once in a while. Sometimes they don't. They put it into their package, their format, and then we pay a subscription and get to use it. We're a licensed provider, and subsequently, so do you. A lot cheaper, I might add if you just walked in there and got it yourself.

Jill DeWit:                            Exactly.

Steven Butala:                   The assessor couldn't give a hoot about HOA and POA data,