Why Municipalities' Rules are Preventative (LA 1363)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill DeWit:

Howdy.

Steven Jack Butala:

Welcome to the Land Academy Show, Entertaining Land Investment Talk. I'm Steven Jack Butala.

Jill DeWit:

And I am Jill DeWit, broadcasting from pretty Park City, Utah. Had to think about that for a... I almost said Park Lake City, I don't know where I got that. Park City.

Steven Jack Butala:

Salt Lake City and Park City.

Jill DeWit:

I know.

Steven Jack Butala:

It's like a combined.

Jill DeWit:

Well, that true. I'm all confused.

Steven Jack Butala:

Today Jill and I talk about why municipalities rules, their rules, are preventative. I've never talked to anyone in my life that said, "You know, that municipality, the city of Park City or the county of Summit County, they're doing a good job."

Jill DeWit:

They are. They're helpful.

Steven Jack Butala:

Yeah. They help us.

Jill DeWit:

They want me to prosper.

Steven Jack Butala:

I wanted to split that property. They let me split it.

Jill DeWit:

Yeah, no problem. I just had to do these forms. What the heck?

Steven Jack Butala:

It's not just... We'll get to it in a second.

Jill DeWit:

Okay.

Steven Jack Butala:

Before we get into it, let's just take a question posted by one of our members on the landinvestors.com online community. It's free.

Jill DeWit:

Eric wrote... Is that the title?

Steven Jack Butala:

Yeah.

Jill DeWit:

Okay. It says, "impulse bought data."

Steven Jack Butala:

"I impulse bought data from Leelanau County, Michigan." How's the water? Just joking.

Jill DeWit:

Okay. And it goes on to say, "I usually let the data tell me where to mail. But after a recent trip to Leelanau County, Michigan, I found myself poking around the data on RealQuest. Next thing you know, at the accept button, I started looking a lot like a Snickers bar at the grocery checkout. Hello everyone. I'm now the proud owner of a 1000 ownership records. The County indicators looked reasonable when plugged into Steve's red, green, yellow test for rural vacant land, slightly high, active, two total properties at 1.23%, but still within reason. I don't have any experience in that area. It's surprisingly expensive at 10 to $20,000 an acre for low acreage property, low acreage properties, lots of beautiful lakes around there. Ideally I'd find a funding partner, but I don't want to scare them off with the high dollar, low acreage properties in a lesser known market. Also anyone else who has impulse bought data? I blame Steve and Jill for making it so easy."

Steven Jack Butala:

If I had a nickel for every time I impulse bought data. Some people buy impulse jewelry, some people have gambling issues, drinking issues, I have data issues. And I have bought, impulse bought data in this state. Leelanau County is Traverse City. And if you're a data person or a Michigan person or you're into this at all, there's a lot of cities, municipalities, a lot like Traverse City, where the county split. Traverse City is made up of two counties, Leelanau is to the North that runs just a ton of waterfront property everywhere, which is why it's so expensive. And then there's a different county. I think it's Grand Traverse County to the South. So, if you drove through there and didn't buy data, this isn't for you. I bought all kinds of data on this trip. We've been in Park City for almost two weeks. There's lots of data that I purchased and we will send mail out just based on driving around. So don't worry about it.

Jill DeWit:

I would argue though, it's still better. Buying data at 10 cents is better than sending it out at 55, or whatever it is.

Steven Jack Butala:

Oh, gosh, yeah.

Jill DeWit:

So you're okay.

Steven Jack Butala:

The real tragedy would be if you-

Jill DeWit:

Mailed them all.

Steven Jack Butala:

if you impulsively did a mailer and price it wrong.

Jill DeWit:

Right.

Steven Jack Butala:

You bought the dress in the window instead of walking in,