Top 3 Things to Review Before Buying Land (LA 1005)

Transcript:

Steven Butala:                   Steve and Jill here. Welcome to the Land Academy show, entertaining land investment talk. I'm Steven Jack Butala.

Jill DeWit:                            I'm Jill Dewitt. I'll explain in a second. Broadcasting from sunny Southern California.

Steven Butala:                   Today Jill and I talk about the top three things to review before you're buying land.

Jill DeWit:                            I have... Sorry, I just had to do that, because I feel like I look like I have a lion's mane going on today, so that's where that came from. Sorry. Poor Steven's like, oh no. Now what? She's either hungry or tired. Let's see, Jill's punchy. She's hungry or tired or too much of the opposite. She got too much sleep, she's had too much coffee or sugar, something like that.

Steven Butala:                   Maybe just plain entertaining today.

Jill DeWit:                            That could be it also.

Steven 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.

Jill DeWit:                            Chris C asks: Hey everyone, I'm still new to land investing. Just sent out my first Miller this week, but starting to target my next county for another mailer. Want to keep my pipeline full? Good. I have been using the data center from realtor.com and Redfin as shown in the training. It appears that those top two sites only have the top 1000 counties ranked by Nielsen. That presents a problem when evaluating smaller counties for rural land. Could anyone share additional websites or resources to find this data used in the red, yellow, green county spreadsheet? Or if some more experienced members have a more simplified method of evaluating target markets besides the red, yellow, green tool. Would appreciate the insight. Thanks in advance.

Steven Butala:                   So Nielsen, if you were born after 1995, Nielsen is a rating agency. So it... You know how we can get analytics on everything now. I just press a few buttons and find out what people... how many likes we got, how many people viewed our stuff. That is a very new invention. Nielsen has been around forever and they originally started to rate television shows-

Jill DeWit:                            Was it even radio before that?

Steven Butala:                   Yeah.

Jill DeWit:                            Mine were in radio and then to TV and-

Steven Butala:                   So they would literally come in your house and put a thing on top of your television set. That's what we used to call it, a television set. And it would monitor what shows you're watching and how... Look at your face. Like people would manually read it and say, you know... It was like a trophy, if you got chosen as a Nielsen family, that's what they used to call it.

Jill DeWit:                            I didn't know it was a trophy. Were you-

Steven Butala:                   Yeah. It's like I got chosen to be a Nielsen family.

Jill DeWit:                            I never knew... Did you know anybody that did that?

Steven Butala:                   Yeah!

Jill DeWit:                            Really?

Steven Butala:                   We never were.

Jill DeWit:                            I never heard anybody-

Steven Butala:                   So anyway, that's what the Nielsen... Now they've since expanded to a rating agency, and he's right. So Nielsen apparently has chosen for realtor.com specifically, and this doesn't shock me with realtor.com specifically, because it's real estate agents and a realtor association. So they're using some tool that was created in 1958 because they're from 1958. Anyway, if you go to realtor dot data...

Jill DeWit:                            Don't hold back, Steve. I know you're holding back-

Steven Butala:                   For some reason there's a thousand ...