What your First Deal Should Look Like (Perfect)

Jack Butala:                   Welcome to the "Cash Flow from Land" show. In this episode Jill and I talk about what the perfect deal looks like. Hi Jill.

Jill DeWit:                            Hi.

Jack Butala:                   I love this topic. I love talking about stuff like this. So many times we talk about little technical details like, should you go see your land and, is there a nuclear bomb, and little tiny things like that.

Jill DeWit:                            Tiny little things like a nuclear bomb ...

Jack Butala:                   I love the big picture stuff ...from 35 thousand feet ...like, if you could create the perfect deal, what is it? I love that kind of stuff. What does it look like to you, the perfect deal?

Jill DeWit:                            The perfect deal for me is ... all the stars are in alignment and all the pieces are perfect. From the legal paperwork part of it, to the property itself, to the circumstances that they are selling it. May I go into more detail?

Jack Butala:                   Absolutely, please.

Jill DeWit:                            First of all, legally, it's in everybody's name. There's no issues, there's no trust, there is no nothing. It's husband and wife and they're still alive and happy and able to sign, just in their name. Everything is great, they've owned the property for 20-30 years so there's no issues at all about any liens or anything crazy from back then. Legally, I should say, so that's the paperwork part. The second part is the property itself. Which is, it's gorgeous ... maybe it's an area in Southern California, like Riverside or Palm Springs, or San Bernardo. Somewhere you can drive and have all of the things that you want, but it's a great place for someone to build a home or ranch, or whatever they want to do. Maybe it's several acres, I like that, I like acreage. It doesn't have to be that big, but 2,5, or 10 acres ... 2 or 5 out there is great, something like that.

Jack Butala:                   This is exactly why we're business partners, because you and I answer these questions a little bit differently. We're always looking forward and going in the same direction together, but ... you just described the perfect deal for you, and that's awesome. The perfect deal for me is a property that is sold before we buy it. You know when they come in ... Here is my example, we send a majillion letters out and we get all kinds of responses, but my perfect deal is when the offer comes back signed and they leave their phone number or email address in the slot that we provide right on the offer and they say, "Yeah, I want to sell all four A's. I want to sell my large acreage property for the price that you asked, I want to close , just like you said, next Friday, and this is where we should meet."

Jill DeWit:                            Is it just about speed for you?

Jack Butala:                   Yeah, well it's just about the technical stuff for me. It's not about the property or the people.

Jill DeWit:                            I'm about the ease of the transaction.

Jack Butala:                   I know, and that's why we're great partners.  I didn't think this show would be about this at all ... If we can buy a 40 acre property for 4,000 bucks in ... it doesn't even matter where ... and we do, we have a ton of A-list buyers that are ready to pay $10,000 cash for it, that's the perfect deal for me.

Jill DeWit:                            You know what? That's a part of my transaction, I hadn't gotten to that point. Mine is, not only that it is legally easy, the property is good, and the circumstances are right, so mine kind of ties into yours, I just hadn't got there yet, I apologize. It's a transaction where they are done with the property. Like I said, it's kind of the same thing. My perfect deal is, "Hey, we're done with it, we're not going to retire there,