Truth about Land Acquisitions (LA 779)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hi.

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 the truth about land acquisitions all week. It's everybody just wants the truth. We are gonna tell you the good, the bad, and the ugly about, and there's not too much ugly, the truth in acquisitions. We're gonna talk about the stuff that nobody ever talks about unless they got 3,000 deals under their belt.

Jill DeWit:                            You know what's funny? Of all the property types you could possibly, seriously, this is what's interesting. If you're worried about land, we really got to talk because of all the property types that you could be flipping on the planet, this is probably the easiest.

Steven Butala:                   I couldn't agree more.

Jill DeWit:                            Thank you.

Steven Butala:                   Jill and I are not in the land business-

Jill DeWit:                            So, if you get hung up on this one ...

Steven Butala:                   I'll talk about it in a minute-

Jill DeWit:                            Okay.

Steven Butala:                   Because I started, I cut my teeth on the most complicated type of real estate-

Jill DeWit:                            Perfect example.

Steven Butala:                   Which is long term care buildings.

Jill DeWit:                            Right.

Steven Butala:                   So, you have to get-

Jill DeWit:                            If you can handle that, you can handle land.

Steven Butala:                   Before we get to the topic, though, lets' take a question posted by one of our members on the landinvestors.com online community. It's free.

Jill DeWit:                            Okay, wait. I have to say something really funny, though. Maybe if we have time at the end of the show, I'm writing a note here, I would like to play a game called if you can handle that, getting a PhD, you know what I mean?

Steven Butala:                   Yeah.

Jill DeWit:                            Because that's what so funny, some people are like, well, I'm a biochemical research analyst, and I'm trying to wrap my head around this whole land thing.

Steven Butala:                   I know, I see that-

Jill DeWit:                            You know what I mean?

Steven Butala:                   Yeah, I read all the time.

Jill DeWit:                            [crosstalk 00:01:42] I'm like, are you kidding me?

Steven Butala:                   I read that stuff all the time in land investors.

Jill DeWit:                            I'm like, this is-

Steven Butala:                   I'm like, what do you mean?

Jill DeWit:                            This is you goofing off on a video game compared to what you do in real life.

Steven Butala:                   Yeah, it's probably two work days.

Jill DeWit:                            Yeah.

Steven Butala:                   Of your whole year.

Jill DeWit:                            Of your real job.

Steven Butala:                   And then you know how to do it.

Jill DeWit:                            I do cancer research,