Creating Immediate Equity with Property Acquisitions (LA 708)
Transcript:
Steven Butala: Steve and Jill Here.
Jill DeWit: Hi!
Steven Butala: Welcome to the LandAcademy show, entertaining land investment talk, we hope. I'm Steven Jack Butala.
Jill DeWit: I'm sure it is, and I'm Jill DeWit, broadcasting from sunny southern California.
Steven Butala: Today Jill and I talk about creating immediate equity with property acquisitions. I know of no other way, other than printing money in your basement, to create immediate equity.
Jill DeWit: Isn't it awesome?
Steven Butala: In a business.
Jill DeWit: It's so exciting, you know it. That's the fun part.
Steven Butala: Here's a spoiler alert: when you buy a piece of property that's worth $100,000 bucks, for $40,000, you just created $60,000 worth of equity.
Jill DeWit: Yep.
Steven Butala: The old school guys say, "Hey, buy low, sell high."
Jill DeWit: Huh, really?
Steven Butala: If you're running short on time today, you can just turn off the show.
Jill DeWit: There you go.
Steven Butala: We're going to talk all about that.
Jill DeWit: You got it.
Steven Butala: Before we get in to it, let's take a question, posted by one of our members on the LandAcademy.com online community, it's free.
Jill DeWit: Cool. Mike asks, "I have a buyer of one of my properties in California, that has asked that I provide an NHD, which is a national hazard disclosure. I'm familiar with these on residential and commercial properties, does anyone get this disclosure when they purchase? Do you have your buyer pay the applicable fees? Split it? Or pay it yourself? It's small dollars to get it done, so in the end, I'll split it with the buyer, but I wanted to see what everyone's practice is typically. Thanks!"
Steven Butala: Mike, this is nothing short of a joke. And, I can feel my face getting red about how this kind of stuff really angers me. In any given transaction, we just went through a deal like this, where, depending on whose orchestrating the deal, or who's involved in it, usually it's real estate agents who require all this CYA, cover your bottom, signatures, and disclosures, and lead-based paint, and all of this stuff. The first thing I ask everybody, and I actually don't ask it very nicely, is, "Am I required by law to do this?"
So, that's my question here.
Jill DeWit: No.
Steven Butala: It costs ... Jill did the research, it costs $75 to get one of these things, and that's somebody's business.
Jill DeWit: And, it's just their opinion. So, I've got to tell you, I just looked up a little bit before we're doing this show, and I found this website, I'm not going to say what it is, because I don't-
Steven Butala: It's nothing.
Jill DeWit: They don't deserve the advertising.
Steven Butala: Nothing short of a freaking joke.
Jill DeWit: It's a total scam. So, on the front page, on the front page of their website, it shows a two story house, shaking, because there's an earthquake, there's a big crack coming out of the house ...
Steven Butala: They're inciting fear.
Jill DeWit: ... Fire on the house, it's all animated. There's an animated person on the second floor with a helicopter fire hovering overhead. And then, for $74.95,