You Can Have it All, Just Not at the Same Time (LA 1174)

Transcript:

Steven Butala:

Steven 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 you can have it all but just not at the same time. What the heck does this mean to you?

Jill DeWit:

I know, it kind of sounds kind of vague, like cake and eat it too kind of thing.

Steven Butala:

Yeah. Well, I just think there's, timing's everything. And some people can handle a ton of, some people can ... I don't know how they can do it. They can have six kids and launch a real estate career and do great.

Jill DeWit:

Can they?

Steven Butala:

I don't know.

Jill DeWit:

Let's talk about it. Let's talk about it in depth.

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.

Jill DeWit:

Okay. Jeremy wrote, "In a recent, Would You Do This Deal, Steve and Jill mentioned they would like the deal better if the offer price to buy the land was lower than the mailer offer price. Wondering what type of strategy or language anyone can share about how to go back to the land owner and try to negotiate/offer a lower price for the land. Any suggestions are greatly appreciated." I've done this many times.

Steven Butala:

This is created for Jill, so we're going to listen to her.

Jill DeWit:

Yes.

Steven Butala:

But Would You Do This Deal is a program that we have on every Thursday for Land Academy members. I guess it's around three o'clock Pacific time, where we all get together on one webinar. We do this every week, and people submit their deals, and we all talk about it. Yeah. It's good. No, don't do it. Here's why.

Jill DeWit:

Right. We answer all kinds of questions and that's just one of the things that we do is Would You Do This Deal. And it's fun because then we get in, it's usually because it's someone submits that they're on the fence about it, and they want our input. Here's the property, and we look it up state, county, APN. We all look at it together because it's all visual too. And they say I've got it locked in at $3,000 let's just say.

Jill DeWit:

And so Steven and I will go in and look at it and go, Oh ... it's usually right away we all pull it up and we go, "Oh, we see it." If we have that reaction right away, usually it's a where's the access? What can you do with it?Because it's a slope like this. It's a 45 degree slope or something, something crazy. So what happens is, right, so we've said, "Hey, it's not a kick it to the curb, not a total pass/ however, I wouldn't pay 3000 for it. I'd pay 1500 for it, and here's why."

Jill DeWit:

So now Jeremy's saying, "Well this is great. Now how do I go back and do that with them?" So what we usually do is, I'll go to them with that information. I'll present an email with a picture or a map and my reasoning why like, "Hi, Mr. Smith. I know I offered 3000. Have you seen the property? Because let tell you what I'm staring at right now. I did some research, and I can tell that access is an issue, and we may or may not be build on it. Only this one area, I think I could do something with," or whatever the issues are, things like that. And then I say, "And because of all that, the best I can do is $1,500. If that doesn't work for you, I get it. But this is my best offer, based on all the information that I've now found since I sent out your offer."

Jill DeWit:

And that's legit. It's honest. It's real. And I obviously don't love it. That's the thing too. When you're going back with these new offers, revised offers, if you will, there's a reason for it. Because come on, let's be honest, we've all priced it pretty darn well. Jeremy, you're in our group, so I know you did your homework, and I know you came in good. If it was a beautiful,