Your September Financial Review (LA 1600)

Transcript:

Steven J Butala:

Steven Jill here.

Jill K DeWit:

Hello.

Steven J Butala:

Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.

Jill K DeWit:

And I am Jill D... or Jill dimwit, apparently.

Steven J Butala:

Oh my gosh. That's awful.

Jill K DeWit:

I know. I got all kinds of good... It's funny. Who cares? I say this because I want people to know it's, who cares?

Steven J Butala:

Yeah.

Jill K DeWit:

Some people get these letters back and they're like, "Oh no." Like, so what? Throw it away.

Steven J Butala:

It's part of it.

Jill K DeWit:

And the person who wrote the letter, they've already forgotten about it too, so it doesn't really matter. Anyway, I am Jill DeWit and I am broadcasting from the Valley of the Sun.

Steven J Butala:

Today, Jill and I talk about your September financial review. I'll tell you, it's based off of my September financial review. 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 don't forget to subscribe on the Land Academy YouTube channel and comment on the shows that you like.

Jill K DeWit:

Tony wrote, "I have a property that is an escrow for an attorney close. They are doing the title insurance and handling all the closing details. Can I assume it's safe to say I could officially, and legally begin marketing this property for sale?" Hold on Tony. You don't own it yet. I want you to get all ready to do this. You may or may not agree with me. We'll see what you say.

Steven J Butala:

I'm not going to agree.

Jill K DeWit:

Oh.

Steven J Butala:

I'm not just being difficult. I'm not going to agree, but go ahead. I'll tell you why, because there are probably six people that piped in on this real hard.

Jill K DeWit:

Some do.

Steven J Butala:

And they said, "No, no, absolutely not. Don't do it. Don't do it. And don't do it."

Jill K DeWit:

And you say, "Yes."

Steven J Butala:

And I say, "Yes."

Jill K DeWit:

Okay. What's the... I mean, you could cover your butt and ask for permission.

Steven J Butala:

Ask who?

Jill K DeWit:

The seller. And then no one will ever get mad if the seller's on board with it.

Steven J Butala:

When you have a property that is in escrow, lawyers closing it, and lawyer's telling you... Usually lawyer closes are way faster than title insurance.

Jill K DeWit:

This is true.

Steven J Butala:

So you're going to be, let's say, it's safe to say, inside of two weeks. It's going to take you several days to get the property prepped anyway, pictures of it.

Jill K DeWit:

So you are agreeing with me.

Steven J Butala:

Start with all that. And I would start. I'd put it on Craigslist, Zillow, everywhere. I would not execute a listing agreement with a... If you're going that route, with a real estate agent until you have a book and page number, it's stamped on the deed.

Jill K DeWit:

So we are kind of on the same page.

Steven J Butala:

But I would ease into it. I wouldn't just not do it.

Jill K DeWit:

Right. So my thing, have it all ready, ready to push the button. I mean, you could start making some calls to neighbors and things like that.

Steven J Butala:

I would do all that.

Jill K DeWit:

Yeah. See, we're on the same page more than you think.

Steven J Butala:

I just wouldn't list it. That's all.

Jill K DeWit:

There you go. I had one too where they were like ahead of the game, like, "I can't sign this yet you guys."

Steven J Butala:

Yeah. I've had that too.

Jill K DeWit:

Yeah. I'm like, "I love that you're that ready." But I'm like, "I can't sign the listing-" [crosstalk 00:03:12]

Steven J Butala:

You guys don't own it yet.

Jill K DeWit:

Yeah. I can't...

Steven J Butala:

I've had that happen multiple times.

Jill K DeWit:

Yeah, I don't want to get anybody in trouble. I don't want to get the agent in trouble, because then they're going to get pissed at me.

Steven J Butala:

Zillow doesn't care.