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Best Place to Buy Houses Right Now (LA 1690)
Transcript:
Steven Jack Butala:Steve and Jill here.
Jill K DeWit:Hi.
Steven Jack Butala:Welcome to the House Academy Show, entertaining real estate investment talk. I'm Steven Jack Butala.
Jill K DeWit:And I'm Jill DeWit, broadcasting from the Valley of the Sun.
Steven Jack Butala:Today, Jill and I talk about the best place to buy houses right now. What is right now, Jill? February 1st, 2022.
Jill K DeWit:What is today? Wait, what is today? Well, today is two, two, two, two, two.
Steven Jack Butala:No, tomorrow.
Jill K DeWit:I know. Hold please.
Steven Jack Butala:Oh, well, we're recording it.
Jill K DeWit:Yeah, it's a little early.
Steven Jack Butala:Yeah.
Jill K DeWit:Is it early? Okay. I understand. Yeah. As we record this on 02/01/22, this show is airing on 02/02/22. How cool is that?
Steven Jack Butala:I don't know. Things like that amaze you.
Jill K DeWit:I don't think I'm alone. Last time I checked by the way, silly.
Steven Jack Butala:You know what amazes me?
Jill K DeWit:What?
Steven Jack Butala:Revenue. 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 please don't forget to subscribe on the Land Academy YouTube channel, comment on the show as you like.
Jill K DeWit:It's not me that amazes you, it's just revenue.
Steven Jack Butala:Well, you're amazing. I don't need to.
Jill K DeWit:Oh, thanks.
Steven Jack Butala:That's redundant.
Jill K DeWit:Me wearing a dress made of spread sheets. Would that impress you?
Steven Jack Butala:Sure.
Jill K DeWit:Okay.
Steven Jack Butala:Sure. Let me think about that.
Jill K DeWit:Okay. Awesome. All right. Michael wrote, I got a call from a seller that accepted my offer, and then he provided the following information, and he had the following question. He said that the land is designated as a flood detention area, and what would I use the property for? Does the flood detention area kill the deal?
Steven Jack Butala:Yes.
Jill K DeWit:How would you address the seller in regards to your potential use of the property. Thank you for letting me know. Have a nice day. I mean, is it like a dam now? Oh, here we go. Is there more to it?
Steven Jack Butala:Yes.
Jill K DeWit:Okay. Oh, there's more to this point. Hold please, and I received a signed purchase agreement by email in a PDF format. Do I need to have the seller also mail me a copy of the purchase agreement with a wet signature on it? Or is the PDF version sufficient to complete the transaction? Well, I'm still wondering if we're going to complete the transaction at all.
Steven Jack Butala:Let's decide.
Jill K DeWit:Let's see if we need to get all hung up on this PDF thing for a moment, which is not a hangup. Go ahead.
Steven Jack Butala:We've all seen flood detention areas. They're way different than waterways or FEMA flood zones or any of that. A flood detention area, and they're not everywhere. They're only in certain parts of the country. For some reason, you never see them in Arizona, or if you do see them in Arizona, they're master planned so that there's a soccer field there.
Steven Jack Butala:But a lot of times in pre-planned industrial parks, you'll be driving down the street and an industrial park, there's buildings everywhere, semis all over the place, loading and unloading. Then there's a vacant piece of property with a fence around it that you can look way down into. It's way sub, it's not on the level of the streets or anything, it's way lower. That's because it's a designated retention, water retention area for flooding.
Steven Jack Butala:Again, you only see this in certain parts of the country. Honestly, I don't know why. I probably should look this up and find out why some places you see it, some places you don't. You see it in California a lot.
Jill K DeWit:Yeah.
Steven Jack Butala:You don't see it in Arizona almost ever,