You Need Time and Smarts More than Money (LA 733)

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:                            I am Jill DeWit, broadcasting from sunny, Southern California.

Steven Butala:                   Today, Jill and I talk about … you need more time and smarts and you actually need money and we’ll explain that in great detail. It’s “I wish somebody would’ve told me all this stuff” week.

Jill DeWit:                            I can’t. It’s “Duh, I wish somebody would’ve told me all this stuff” week.

Steven Butala:                   Jill, literally, literally just got done painting her nails.

Jill DeWit:                            I did.

Steven Butala:                   We joke about it all the time. She’s bored, she’s gonna paint her nails, she’s gonna let me talk about real estate.

Jill DeWit:                            Today, I actually did.

Steven Butala:                   It actually happened for the first time.

Jill DeWit:                            It did.

Steven Butala:                   She took a picture-

Jill DeWit:                            I’m stinking up the studio … I hope that’s okay-

Steven Butala:                   That’s fine.

Jill DeWit:                            With my nail polish.

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

Jill DeWit:                            Okay. Stephen asked, “I came across a property the owner’s letting go (just started first year of tax delinquency) that I can get cheap because he was frustrated 10 years ago in gaining access to the lot (and has not been back since). I checked with the county and when the plat was done, all lots are granted legal access.”

Steven Butala:                   Ding, ding.

Jill DeWit:                            “So, ultimately, the neighbors cannot stop someone from getting to the lot (a road is drawn on the plat map, but not totally present at this time from the Google Earth image from what I can tell).”

Steven Butala:                   This is very common.

Jill DeWit:                            “The neighbor, who is the main issue, has apparently been scheming to force a tax foreclosure to pick up at auction per the county, the current owner’s opinion, trying to decide whether to pick up for 500 to $1,000 for 10 acres and be upfront with the limited amount that I know about the situation. Thoughts from the gallery?” I like that.

Steven Butala:                   What do you think?

Jill DeWit:                            This is so common, it’s hilarious. Well, my first thought is we already have the buyer. We know who wants it. It’s the person who’s trying to forcibly take it over. Why the buyer, the next door neighbor, has not gone to the person himself, I don’t know, unless it’s a Hatfield and McCoy thing.

Steven Butala:                   You took the words out of my mouth.

Jill DeWit:                            Then, the Hatfield neighbor, one of them, that McCoy does not wanna sell to the jerk, which I wouldn’t either at this point, but I also … the guy obviously, he hasn’t been to the property. He doesn’t care, he doesn’t go there. So, it’s not like he lives there. Right now, he’s done with it. He just doesn’t wanna deal with the situation. You know, this is-