What We Consider a Win or Loss (LA 874)

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

Steven Butala:                   Today Jill and I talk about what we consider a win and what we consider a loss. I can almost guarantee we'll talk a little bit about what a real estate win is, and what a real estate loss is, and then we'll talk about the big picture, I hope.

Jill DeWit:                            I can almost guarantee you're going to bring dating into this somehow.

Steven Butala:                   Kids, and relationships, and-

Jill DeWit:                            I'm sure of it. Cars.

Steven Butala:                   This episode, every once in a while we get done taping an episode, and I get in a lot of trouble. This episode has that potential.

Jill DeWit:                            Well, why-

Steven Butala:                   For the same way that-

Jill DeWit:                            Well it depends on if you call me a win or a loss.

Steven Butala:                   We're the same-

Jill DeWit:                            And then ... that's not fair.

Steven Butala:                   For the same reason that some people get in trouble on the way home from a cocktail party for the stuff that they said.

Jill DeWit:                            That's not fair. You know what, if you throw somebody under a bus, and you expect it to not come back, you're ... come on.

Steven Butala:                   It's not necessarily-

Jill DeWit:                            It's crazy.

Steven Butala:                   Bus throwing, it's more like ... I don't think ... it's TMI. So anyway, let's see.

Jill DeWit:                            Okay.

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

Jill DeWit:                            Okay. Mark asks, "Hi guys. I got a signed offer back for this land parcel. However, it seems like the neighbor's house is partially within the said lot boundaries. Have you seen anything like this? How should I proceed? Thank you."

Steven Butala:                   Great question.

Jill DeWit:                            Yeah.

Steven Butala:                   That's technically called an encroachment and very, very, very often if you're looking at it on Google Earth, the overlay for the satellite videos are constantly 10, 20, 30 feet off. So if you're relying on that data, just to make this statement, it's not reliable information.

Jill DeWit:                            I agree, that was going to be my first thing, too.

Steven Butala:                   Then, if you use Parcel Fact which is actually one of our companies that utilizes a Google Earth API also. What you want, if you're totally concerned about it is to look at a plat mat. If you can overlay the plat map on a satellite, which you can do, [inaudible] technical stuff. Actually, you know [Bay] came to me and said she does this all the time.

Jill DeWit:                            Yep. Even--

Steven Butala:                   You know what members- honor member.

Jill DeWit:                            You know there's different satellite versions that we get out there. There's paid versions and free versions and most of us are using the free versions that are not as accurate as what's really available for let's just say, the aviation community.

Steven Butala:                   Yeah, that's a great example.

Jill DeWit:                            You have to know that it could be a little bit off, but like you just said, if you really wanted to know for sure, what you would do is get the GPS coordinates out of Parcel Fact and you woul...