Commercial Land (LA 1186)
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:
And I'm Jill DeWit, broadcasting from sunny Southern California.
Steven Butala:
Today, Jill and I talk about commercial land. "That's great, Steve. What about it?"
Jill DeWit:
That sounds so boring. "Today, boys and girls, we're talking about commercial land."
Steven Butala:
Today we're talking about the crayon color yellow.
Jill DeWit:
Oh my gosh. Today we're going to talk about the verb.
Steven Butala:
What's the verb?
Jill DeWit:
I don't know ... Run.
Steven Butala:
Attempt. The verb fail, as in, "Johnny, you continue to fail." I don't think that's a verb. I think continue is the verb.
Jill DeWit:
Exactly, that's awesome.
Steven Butala:
I think fail is-
Jill DeWit:
Their fail is a noun.
Steven Butala:
I think it's the adverb. I'm not sure. Wow, I haven't been in school in a long time. Steve, you continue to fail.
Jill DeWit:
Yep-
Steven Butala:
At English.
Jill DeWit:
And this show.
Steven Butala:
Commercial land, before we get into it-
Jill DeWit:
Oh, yay, it sounds so boring, but you know what, it's our favorite. Really, this is good.
Steven Butala:
Commercial land is the single best way to hit a home run in your land business. In the right counties they really dramatically identify and sub-categorize it out, so that you have a real good clean data set and a real logical, easy way to send everybody in an area in an MSA, a metropolitan service area ... sorry, a metropolitan statistic area, an offer of let's say everybody who owns rural vacant ... I'm sorry, vacant land, that is zoned for apartment buildings that are 60 units or more.
Jill DeWit:
Or car wash.
Steven Butala:
Car wash, great example. Parking lot.
Jill DeWit:
Thank you.
Steven Butala:
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.
Jill DeWit:
Leonard asked ... this says Leonard asked last week and we answered, so I'm going to read the question and the answer.
Steven Butala:
The first part of the question is his question that he asked last week and then a little bit of a celebrational update.
Jill DeWit:
Okay. "Hey, land investors. I recently bought 30 lots from a tax sale from the Commissioner of State Lands in Arkansas. I had the intention of selling each lot on eBay. I got a lot of hits on each auction and listed five properties in eBay in total. How do you find buyers for these cheaper properties? I have listed them on Facebook Marketplace and I've had a lot of interests of potential buyers, which seem to be tire kickers. How do you sell these? Any advice is greatly appreciated."
Jill DeWit:
Then we have a week later, Leonard put an update. Oh boy. It says, "Thank you for addressing my question on the show. I sold my first lot on Facebook the day the show aired. Got 30% percent of my investment back on one deal. Thanks for all the advice." So 30% I guess to buy all 30 lots got back. So 10 of the 30 were paid for on the first deal. "Thanks for the advice." Not too shabby.
Steven Butala:
It's staggering, actually. That's a staggering statistic-
Jill DeWit:
I love it-
Steven Butala:
And nowhere else in real estate can you do that.
Jill DeWit:
It's amazing. I love it.
Steven Butala:
All over the country, there are places you can go more and more with more prevalence of the internet, places you can go to buy back tax property online. And so it's a full time job keeping up with it. Jill and I do it probably once or twice, maybe three times a year, and it's very, very profitable and we buy them in pretty big tronches and then just resell them throughout the year. Bought a mobile home property, I would never just do that one thing. I use it only to compliment our mail campaigns, but I think it's a good way to get your feet wet and a good way to make some bucks on the side.