Three Mandatory Tasks to Complete Every Day in Your Land Life (LA 1718)

Transcript:

Steven Jack Butala:

Steven and Jill here.

Jill K DeWit:

Hi.

Steven Jack Butala:

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

Jill K DeWit:

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

Steven Jack Butala:

Today Jill and I talk about three mandatory tasks to complete every day in your land life. I think they're going to be kind of surprised about some of this stuff.

Jill K DeWit:

All right. I'm excited. I know you put this together and you have some thoughts on this. I'm just going to let you run with it.

Steven Jack Butala:

Before we get into it, let's take a question posted by one of our members on the landinvestors.com online community. It's free, and did you know that Jill and I personally instruct a handful of new and existing Land Academy members in a live class called Career Path? If buying and selling land is your career, or you want it to be your career, this may be for you. Check us out on the internet at LandAcademy.com and give us a call.

Jill K DeWit:

I would also like to add a little follow-up announcement that we are doing a live all about Career Path tomorrow because we have some great changes that we're making to it. This is actually session number four that is starting in April. So, tomorrow's the big announcement. Check out YouTube or Facebook live under the Land Academy pages at four o'clock Pacific time, eight o'clock Eastern time. So, that's Tuesday, March 15th, four o'clock Pacific time, 8:00 PM Eastern time. Go to Land Academy on YouTube or Facebook and you could see us live and ask us all kinds of questions about Career Path. And we're going to fill you in with some exciting new things that we're doing this time. Thank you. And back to the show. Okay. So, Casey wrote "$16.53 cents net profit. Be careful of HOA properties, as mentioned a lot." Aw, yeah.

Steven Jack Butala:

I have to tell you this. So, Casey's been with us for a while and I don't like all this rah-rah peaches and cream. So, Casey has a little story here about a property where he basically broke even and I think the world needs to hear it.

Jill K DeWit:

Yep. So, here's the story. "I bought this lot a year ago, assuming values were around $3,000, as was all the information that I could find. That included MLS access, which I have. After buying for $750, which I bought a second lot for $100 in the same HOA and sold a few weeks as the price was too good to pass up, I learned that the HOA had a board of property for sale at $1,500 or less. Thankfully, I was able to find a buyer this weekend who loved it. After all the fees I made a whopping $16.53 cents. I'm happy this one was a net positive and no matter how small, it's off my plate, but the point is watch out for those HOA properties."

Jill K DeWit:

That's one of the reasons why we kind of like... Unfortunately, initially I have a negative feeling about HOA stuff because of this and it may not be that bad. Some of the HOA rules are not that bad. Maybe just some nice, common sense, like let's not trash the place up, and I don't disagree with that. But some have really hefty transfer fees every single time and the way we do it, we buy the property, we own it, and then we try and sell it. So, I'm paying those transfer fees twice and they can be a couple thousand dollars each time. I've been hit with that. So, you got to really budget for it.

Steven Jack Butala:

Yeah. This is still the land of the free and the home of the brave and HOAs kind of throw a wrench in all that with their fees and their rules and all of that. So, we're rural vacant land people. It just goes against what land represents.

Jill K DeWit:

It kind of does. Isn't that funny? I know. Exactly.

Steven Jack Butala:

That cowboy type freedom.

Jill K DeWit:

Do you think Yellowstone has an HOA? Could you imagine? I'm sorry. I'm sorry. That back 40 over there,