How to Set Real Estate Investing Financial Goals (LA 1007)
Transcript:
Steven Butala: Steve and Jill here.
Jill DeWit: Good day.
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 to set real estate investing financial goals. I just said, right before we started the show, is ironic as this is, because there's the word financial in the title, this is way more spiritual and way more inspirational than it is technical.
Jill DeWit: I'm proud of you, Steven.
Steven Butala: Wow. I just heard my mom talk to me there. I just heard my mom from the other side.
Jill DeWit: You finally get it.
Steven Butala: I made a potty. "I'm proud of you, Steven."
Jill DeWit: That's awesome. "Next time get it in here. That's right. Aim for the Cheerio, sweetie."
Steven Butala: Aim for the Cheerio, really? Is that how you do it?
Jill DeWit: Yeah. When you're teaching a little boy to pee, you throw Cheerios in the toilet. Then he can sink the Cheerios.
Steven Butala: I didn't know that. I just let the kids figure it out themselves. No aiming.
Jill DeWit: That's hilarious. Yeah. I did, too. It's more fun.
Steven Butala: Pretty much let the kids just raise themselves.
Jill DeWit: Excuse me. As a man, it's it more fun when it's target practice?
Steven Butala: I have no ...
Jill DeWit: All right.
Steven Butala: That kind of thing stopped being fun a long time ago for me. If I want to have some fun, doesn't involve that.
Jill DeWit: Okay. Anyway. I am proud of you for not only picking, but entertaining this conversation. I know we have some good stuff to say.
Steven Butala: Before we get into it, let's take a question posted by one of our members in the LandInvestors.com online community. It's free. I have to say it, Jill. This is a very lengthy question. It's a very lengthy question and a story unfolds. It has a beautiful and happy ending, so feel free to paraphrase, but it's lengthy.
Jill DeWit: All right. I won't give up.
Steven Butala: And I'll help you.
Jill DeWit: Okay. Hi, Abby. Abby wrote this. Abby asks, "Hi, guys. I wanted to send a neighbor letter to all the neighbors in a one-mile radius for a property that I want to sell in a not so rural area, kind of infill lots. Does anyone have a template I can use? Ideally, I want the neighbors to make me an offer, and then I pick the highest bidder."
Jill DeWit: One of our members already wrote in and said, "Kevin ..." This is so fun, too. Any time you want, just go on our online community. You can easily keyword search and find these conversations. Put in like, "Neighbor letter," and it'll pop up, and you can read it. Because I'm sure since we recorded this, there's probably six more responses in there.
Jill DeWit: But Kevin wrote, "Abby, I've had a great success with neighbor letters in non-rural areas. I don't ask them to bid. I tell them that I have purchased this property and plan to sell it for the wholesale price of X."
Steven Butala: X.
Jill DeWit: "Please contact me if you're interested in purchasing the property." I include the APN, the legal description, color map with the parcel outlined on the map. I keep it all on one page, including the map image.