Choosing Your Land Acquisition Niche Specialization (LA 743)
Transcript:
Jill DeWit: Are we sure it's okay? Sorry.
Steven Butala: Steven and Jill here. We're keeping it.
Jill DeWit: Oh, good. All right. Hello!
Steven Butala: Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.
Jill DeWit: I'm Jill Dewitt ... Fighting, I don't know if it's a summer cold or what it is and broadcasting from sunny southern California
Steven Butala: After all, we are just real people.
Jill DeWit: We are.
Steven Butala: We don't just have the show. We have life. Today, Jill and I talk about choosing your land acquisition niche specialization. I like this topic a lot. Before we get into it-
Jill DeWit: It's wordy (laughs).
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 and this question is long.
Jill DeWit: Thank you for prefacing that. Joe Asks, "Hi all. I wanted to provide an update on my first mailer. I Join Land Academy as a silver member in mid December and my first mailer went out the first week in January."
Steven Butala: Right!
Jill DeWit: "Last week I received a call from a seller and his message was clear. I accept your offer. During due diligence, I found out that he owned four more properties in the same area. I called them back to discuss other properties and he agreed to sell them all. Now for the best part, I purchased five parcels, 39 point four acres in total for $16,000-"
Steven Butala: Just like yesterdays!
Jill DeWit: "All five of the parcels are over four acres and the cheapest four acre parcel for sale in the area is $49,000 on-"
Steven Butala: Oh my gosh, he's going to make a quarter of a million bucks here!
Jill DeWit: Right. "The cheapest four acre property sold in the last six months, went for $42,000. Recent comps suggests at least one of the parcels has a market value of over $100,000-"
Steven Butala: These are the kinds of deals Jill and I do-
Jill DeWit: "I paid $3,000 for it. Insanity. One of the other parcels is eight point one acres and does not have road access, but as accessible by ATV via an old logging trail. I wasn't thrilled about this one, but I wanted to go easy in the seller for giving me such a smoking deal, so I just bought them all-"
Steven Butala: Good! That's the right thing to do.
Jill DeWit: "The most significant challenge I faced thus far is trusting technology. Google Earth, GIS, Instead of going to look at the property myself. My wife says I have control issues, but she never says what I want her to say anyways. Deep down, I know that I'll never be able to scale this business if I don't learn to trust Google Earth and my data-"
Steven Butala: Yeah, you're wife's right-
Jill DeWit: "Besides the insane ROI potential in this deal is I didn't go to look at the properties even though they're less than an hour from my house." I love it. I love his wife too, this is great. "Perhaps my experience-
Steven Butala: No, no-
Jill DeWit: "Perhaps some experience in beginner's luck-
Steven Butala: Nope, you're not. This is how it goes-
Jill DeWit: "But I've been sending out a mailer every two weeks and plan on sending out 6,000 on Monday, so only time will tell.
