Acquisition Decisions on the Fly with ParcelFact (CFFL 505)
Transcript:
Jack Butala: Jack Butala with Jill DeWit.
Jill DeWit: Hi.
Jack Butala: Welcome to our show today. In this episode, Jill and I talk about acquisition decisions on the fly, with parcelfact.com, our new website. Before we get into it though, let's take a question posted by one of our members on the landinvestors.com online community. It's free, and it's official. Success plan is going.
Jill DeWit: I know. It's nice. It really is landinvestors.com by the way. Okay. Dansing Grace asks, and this person's not a member, so I pulled this specifically here.
Jack Butala: Good.
Jill DeWit: She says, "I happened to by an infield lot, with houses on both sides, in a suburb of Pueblo, Colorado with utilities to the street, selling at $10,950 at market. I have posted on Zillow, and no one called after two weeks. But one person from my mailer to the neighbors called after one week, but not returning calls now. I'm thinking my buyers may be builders, not consumers. I thought to specialize in infield, but I worry that if I deviate from the proven path, and wander off, I'd have to figure out the ins and outs of my town. Could someone give some advice on one, how to market infield lots-
Jack Butala: I bet Jill's going to give advice on that.
Jill DeWit: That's good. Two, should I stay in the infield lot business? And three, some encouragement if this is feasible. I'm a little scared and lonely out there."
Jack Butala: Scaredandlonely.com.
Jill DeWit: And you have a great property there. I shouldn't be scared, and you shouldn't be lonely.
Jack Butala: So, just for clarity’s sake-
Jill DeWit: You should be excited.
Jack Butala: ... Grace, it says, infield lot here, with a correct, it's called an infill lot.
Jill DeWit: That's true. I was reading it verbatim.
Jack Butala: No, that's good.
Jill DeWit: Yeah. So, that's how you know this is real. I really read it verbatim.
Jack Butala: Hey, Jill, how you doing at 6:30 in the morning today.
Jill DeWit: Oh, my goodness. I'm doing great, I'm peachy. Exactly.
Jack Butala: So, Jill's going to tell us how to market property.
Jill DeWit: Everywhere.
Jack Butala: Marketing land 101. Go for it, Jill.
Jill DeWit: Well, this type of lot, which we have had and sold, and these are great, by the way, love having these, because talk about, you know, no work. I mean, people really can drive right up to it. If it's got utilities, like this one, you know, right at the curb, it's paved. It's done, and there's houses on two sides. So, this is a great thing.
Jack Butala: For the vast majority of people, land buyers, this is what they want. Property you can drive ... It's got an address.
Jill DeWit: Oh, yeah, that's true.
Jack Butala: We talk a lot on this show about properties that are way out, you know rural properties, that, which, by the way, a ton of people want, but this sings to everybody.
Jill DeWit: The big thing is, you're limiting yourself by putting it only on one place. The whole concept, and this is Jack's big thing, and he's right, reach. How is the right buyer going to find your properties? Who's looking for this by the way. You only have it posted in one place.