How Much Wealth is Possible Buying Undervalued Land (LA 709)
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 how much wealth is really possible by undervalued land.
Jill DeWit: Do we just put a picture of where we live on there? Just kidding.
Steven Butala: That's a good point. Well, we're not here to talk about Jill and I. It's going to seep in-
Jill DeWit: I'll put a picture of some of our community members, where they live, on there.
Steven Butala: Yeah, even better.
Jill DeWit: I will put a picture ... Actually, one of our members posted a photo on social media of the brand new pickup truck that he bought himself-
Steven Butala: Good.
Jill DeWit: To drive around and look at the property in the Dallas area. You know who you are, as I'm talking about you. I thought that was really darn cool. He's really been very vocal about sharing that. Yeah, and he did it ... He's a dad with young kids, and did it methodically-
Steven Butala: I know who you're talking about.
Jill DeWit: Mm-hmm (affirmative) ... Methodically and carefully. He's not running a Ferrari.
Steven Butala: He's Justin.
Jill DeWit: Yes, and doing it the right way. Anyway, that's the thing ... Yeah, we say this all the time, don't listen to us, go talk to our people that are really doing this. There're hundreds of them that you can talk to on our online community. They'll you.
Steven Butala: Any questions. If you're a listener, and you have any questions about whether this is true or not, go onto the LandAcademy.com online community. I built the site myself because I was so tired of answering these questions.
Jill DeWit: Yeah.
Steven Butala: What did you guys smoke today that you can there on the show like this and talk about how easy it is. Don't believe me.
Jill DeWit: Right.
Steven Butala: Go to LandAcademy.com and on the online community there, in the resources, and ask that question. Is this a pile of larkey or not?
Jill DeWit: Malarkey.
Steven Butala: Is it easy? Is it hard? How long does it take? Actually, that's kind of what the show's about.
Jill DeWit: Yeah.
Steven Butala: What's really possible.
Jill DeWit: Well good, let's get to that. You just covered it, Steven, so there's where you can go do a question right now, and it's free, by the way. Right now, I'm going to answer one that Merritt put in there. Merritt asks: "Undoubtedly this question has been raised somewhere on the farms, but I'm having trouble finding specific answers."
Steven Butala: Oh, this is good.
Jill DeWit: "Has anyone had experience with terms deals defaults in California? I've seen it talked about in some threads, and that land lease options were the way to go versus land contracts, as depending on the state, utilizing land contracts for terms deals may necessitate going through an expensive, lengthy and formal foreclosure process in the advent of a default. Obviously, one would want to reclaim the land for resales quickly, and as inexpensively as possible, in the event the buyer stops paying. Any advice here,