Finance Friday with Steven Butala and Justin Sliva (LA 893)
Transcript:
Steven Butala: Steve and Justin here, welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala with Justin Sliva. Broadcasting from sunny Southern California and from Dallas Fort Worth today.
Justin and I introduce Finance Friday... well, let's just get into it actually. The person who wrote my script doesn't understand Finance Friday, and I think that's fine. This is what, our third show I think, Justin?
Justin Sliva: Yeah, third official under Finance Friday.
Steven Butala: Jill is actually... you know cause you were out shooting coyotes I think last week?
Justin Sliva: Yep, yep. We shot 7.
Steven Butala: Did you really?
Justin Sliva: Yeah, yeah. They weren't very great; there was a lot of mange on them, but we did shoot 3 that really looked good. And the cool thing about it was, this is a fourth generation ranch that we were on, and there's a feed lot next to it, so these coyotes come through this canyon on this fifty-eight hundred acre ranch and eat the cows at the feed lot. And then they come back across. So, we actually just set up on a canyon and just picked them off as they came in and out. It was pretty nice.
Steven Butala: Well, I'll tell you, we're gonna lose several listeners over this.
Justin Sliva: Oh, sorry about that.
Steven Butala: That's alright.
Justin Sliva: I mean, they're predators, so that's kind of why we do that.
Steven Butala: I get it completely. I personally get it.
Anyway, Jill covered for Justin last week, which was kind of fun. If you haven't had a chance to... actually I think it airs tomorrow Justin so you probably haven't heard it yet but... Before we get into it though, let's take a question posted by one of our members on the landinvesters.com online community, it's free. Marcus asks, "I'm in the process of selecting counties for my first mailer, and because I'm working with very little cash, the last thing I wanna do is hit the south-west for cheap properties and compete with a million... within a million other people who try to buy the same property. So, I'm staying in the mid-west here, where I live, and looking at population trends in nearby states and my goal is to find counties in rural or semi-rural areas that aren't far from counties where people are currently living or moving. Thinking that's the way that there's a better chance of property will sell and sell quickly, not 8 months from now. I'd love any feedback that you have." This is a perfect question, actually, Justin for you.
Justin Sliva: Yeah, we get this question a lot. The two big things we are is hey, which counties should we shop and what prize should we offer. Those are the two big questions and we've had fifty-five people reach out in the last week for questions like that. So its been insane with how much people have reached out, you know, wanting to know that stuff.
What I tell people to do is to find an asset class they like, so if its county in the mid-west, you have some great states and find something you like about it that excites you because, when you're excited about what you're shopping, you're going to tend to do better, do more and you're going to work at a faster pace versus being, "ah crap its this desert piece of property;" doesn't excite you. In the mid-west, you have a ton of options up there, you could go through Tennessee, through Kentucky, through Georgia, through the south-east. You have all the states there, and find stuff that you like about them and then start working through them. Find a price you feel comfortable with. I use the same example a thousand to two thousand dollar sell price and then try to offer twenty-five,