Data is Your Crystal Ball (1024)
Transcript:
Steven Butala1: Steve and Jill here.
Jill DeWit: Good day.
Steven Butala1: Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.
Jill DeWit: And I'm Jill Dewitt, broadcasting from the sunny, Southern California.
Steven Butala1: Today, Jill and I talk about how data is your crystal ball.
Jill DeWit: It is. You know what I wrote? I wrote down, "Don't guess. Use data."
Steven Butala1: Exactly.
Jill DeWit: That's my big ... I have more to share though.
Steven Butala1: Me too. There's data for acquisitions. We use data for making acquisition decisions. We use data for deciding where to send offers to owners, and we use a tremendous amount of data in the sales part of it, so I can't imagine doing this without data, and I think during the 80s and 90s or up to the 80s and 90s, it was kind of just a dart board.
Jill DeWit: I have to say. Jack used data for everything, and I have to ask. Did you use data to find me?
Steven Butala1: Maybe. I don't know. We'll talk about that in a minute. Actually, I think I might have.
Jill DeWit: I'd like to know how you use data for relationships. I'd like to know how you use ... Because Lord knows you'd use it for every other major decision, which is actually good. You use data for cars. You use data for houses. You use data for almost having a child. For children.
Steven Butala1: Well, I'll tell you what. If I analyzed all the data about whether or not to have children, the outcome would have been different.
Jill DeWit: Yeah, you failed. I won't say you failed on that one, but maybe a little more research would have been appropriate.
Steven Butala1: Before we get into it, let's take a question posted by one of our members on landinvestors.com online community. It's free.
Jill DeWit: Michael asked, “Hello, community. I am as green as they get and looking for some advice. I've been researching land investing for a while, and I'm convinced it would be a great opportunity for me and my family. I have not pulled the trigger on starting yet, though, and I need some help getting over paralysis by analysis.” Data comes in there.
Jill DeWit: “My situation is this. Our family will be moving to a different state in two years. How much of a hassle is it to start a company like NLLC in one state, acquire the assets, and then move to another state? I've read about domesticating your LLC in a new state, but I was wondering how much of a hassle that was. That said, I get it, that I don't need an LLC to start, and maybe this is my reptile brain holding me back from what's possible. I really don't want to wait two years before starting this journey. Talk some sense into me, please. Many thanks, Michael.”
Jill DeWit: That's a good one.
Steven Butala1: It is. There's two, a direct question about LLC's here, and then there's a serious underlying question here.
Jill DeWit: Uh-oh.
Steven Butala1: Number one, let's be super clear on this LLC thing, and it comes up a lot, and it's a very good question, and you're very, very new, and thank you for letting us know. You can have an LLC and operate in another state all day long. Large corporations for tax reasons and a lot of legal reasons had Delaware LLC's or Nevada LLC's. For those two states, specifically, you don't have to disclose personal members. A company can own a company, and there's a lot of advantages. So, get that out of your mind. It's not like a driver's license where if you live in California,