Worst Property Best Street (LA 840)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

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 the worst property on the best street. I've got several personal stories for this.

Jill DeWit:                            I'm sure you [crosstalk 00:00:18], too.

Steven Butala:                   What does it actually mean? "The worst property on the best street? Why would you ever want the worst property on the best street?"

Jill DeWit:                            Exactly.

Steven Butala:                   We'll explain it, and why I think it's absolutely imperative, and how it applies to infill lots.

Jill DeWit:                            Cool.

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, and as you're listening to us, please drop your questions into the comments section below.

Jill DeWit:                            Ellis asks, "I've been thinking about mailing to a very rural county, but there's literally no data. There are a couple of big acre properties, like 300 to 400 acres, listed on Realtor, Land Watch, Land and Farm, et cetera, but no properties with sizes in my price range. Frankly, I can't even determine what sizes are in my price range, because of the lack of data. I can't determine who to mail to, and at what price. On the other hand, the area has good attributes, is modestly scenic, and has literally no competition, from what I can tell." No kidding. "Should I take a stab in the dark?"

Steven Butala:                   You had me right up to the last sentence. How is this a stab in the dark? If it was a stab in the dark, you would have just sent mail out to anywhere, you know? This is not a stab in the dark. You've done about 80% of the research already. You've found out all of this information. You've done everything right. So, the question should be that you should be asking, in my opinion, is, is it worth it to give it a shot?

Jill DeWit:                            Right.

Steven Butala:                   Is it worth it to send mail in a very intelligent and premeditated, pretty much looking into a crystal ball? Because I can tell you what's gonna happen, and so can Jill. Before I tell you what's gonna happen, Jill, do you want to comment?

Jill DeWit:                            No.

Steven Butala:                   You're gonna kill it.

Jill DeWit:                            I'm just kidding.

Steven Butala:                   You're gonna kill it in this county, if you price it right. Absolutely kill it.

Jill DeWit:                            I'm totally teasing. You know me, I always have something to say. So, I love it. I love those areas, when there's not much.

Steven Butala:                   Me, too.

Jill DeWit:                            If there's only big ... I'm trying to [inaudible 00:02:19] so there's big properties, but not many little properties-

Steven Butala:                   For sale.

Jill DeWit:                            ... for sale. God, that makes me think that if I come along, with something like a 20-acre, or a 10-acre, or something like that-

Steven Butala:                   Or a five.

Jill DeWit:                            ... I'm gonna kill it.