Half as Hard Twice as Profitable vs LandLord
Jack Butala: Half as Hard Twice as Profitable vs LandLord. Leave us your feedback for this podcast on iTunes and get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening.
Jack Butala: Jack Butala and Jill DeWit.
Jill DeWit: Happy Friday.
Jack Butala: Welcome to our show again. In this episode, Jill and I talk about it's half as hard and twice as profitable. You know this land business we're in is being a landlord. Let's get into it. I love this kind of stuff. We'll put some real math to this.
Jill DeWit: Okay, cool.
Jack Butala: Before we get into, though, let's take a question posted by one of our members on the landacademy.com online community.
Jill DeWit: Okay. Ryan asked, "I've been running into a strange problem where I'm getting different sizes for the acreage of property I own during my research. When Google Earth had the APN feature," that was a long time ago. It was like over a year ago. "I looked it up and measured the lot and the measurement came out to two acres. Then I went to the county site and got a map that shows a parcel and my parcel measurements showed two acres also. I then got a notice of value from the assessor and it says one acre. Am I doing something wrong? What should I do?" Jack?
Jack Butala: Ryan, you're not doing anything wrong. In fact, I know which Ryan this is, too. Like this, you've thoroughly though this through, like everything. Congratulations. I know you're doing really well. Congratulations on that, too. The true, true answer to this is that turns out the county makes mistakes.
Jill DeWit: Mm-hmm (affirmative).
Jack Butala: They're human, too. They make a lot of mistakes, quite honestly. Mistakes in recording, mistakes in assessment, very often mistakes in assessed value. Just because the notice of value says one acre, man, that could be just because they were lazy that day and they said, "Eh, it's about an acre." I've seen that happen. Slews, and slews, and slews of property.
Jill DeWit: Exactly.
Jack Butala: If you go on the internet and do us a little bit of research, in fact, this question is making me think of my next blog, the topic for my next blog. There's a way that you can take the circumference of the property and calculate it. An acre is 43560. It's 43,560 square feet. You can back into it that way.
Jill DeWit: It sounds like he did it, too. His map I'm showing, he's got a parcel map with the actual lot and the measurements where it will show 600 feet by 800 feet by up here, here, here. It said he did the math and he's right. That, for me, is the real deal.
Jack Butala: Yeah, it's exactly right. By the way, that Google APN scenario. Core Logic purchased that property. That's why that went away. Purchased that company. That's why it went away.
Jill DeWit: We're going to bring back a version of that.
Jack Butala: We will be releasing a product soon here that does it for you, where you literally just type in ... It'll take you with the corner points to Google Earth for 99.3% of the properties in the country.
Jill DeWit: Exactly. It's insane.
Jack Butala: 145 million of them. I'm having a blast dealing with that database. I love that.
Jill DeWit: Good. Yeah, it's not you Ryan. Call them.
Jack Butala: I would trust you way over.
Jill DeWit: Exactly.