Jill Friday - Lucky Career Path Millionaires (LA 1767)
Transcript:
Steven Jack Butala:
Steve and Jill here-
Jill DeWit:
Hello.
Steven Jack 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 the Valley of the Sun.
Steven Jack Butala:
Today's Jill Friday and she's going to talk about lucky career path millionaires.
Jill DeWit:
That was funny when that came up, it was good.
Steven Jack Butala:
We all realized that we're lucky. We're not talented, we're not dedicated or consistent, we're just lucky.
Jill DeWit:
That's it. That's all this is.
Steven Jack Butala:
Before we get into it, let's take a question posted by somebody on the landinvestors.com online community, it's free. And I'm going to tell you that back in the day, it was almost impossible to find land without a mailing address, like 123 Main Street. So Jill and I solved this through technology and launched an entire website based on it called neighborscoop.com. If you are having a tough time finding property, check us out @neighborscoop.com.
Jill DeWit:
Yuri wrote, is it a red flag for a seller to be motivated to sell after just purchasing, not inheriting, their land only a few years ago? My offer price is only slightly higher than what they paid and local broker told me I'll get two to three times that when I sell it. It seems like a good deal, but I don't want to get too excited and overlook something.
Jill DeWit:
I don't think so, especially if it's a nice big chunk of property that there's lots of places to do stuff with then all it tells me is something happened. I think I know where Yuri's going, I'm going to finish my thought. But I do get ... because you're looking at me like, hurry it up.
Steven Jack Butala:
No, I'm not.
Jill DeWit:
Is that okay?
Steven Jack Butala:
Don't hurry it up, I don't.
Jill DeWit:
Okay, but I do get it. But on the flip side, if someone bought this six months ago with the intent of building a cabin, it's 0.4 acres and I'm looking at the train going, how are they going to do this? And all of a sudden they want to get rid of it. And at any price, I'm like, shucks, that could be a red flag that they may have bought it, thought they could build on it or do something with it and they found out they can't do what they felt they wanted to do. And I need to make sure and check that out. So I think that's where Yuri's going.
Steven Jack Butala:
Every time Jill and I have done a real estate deal, which are almost always involve primary residents, there comes a point in the deal where we have to talk to the seller. And this is an absolute rule, it's a deal breaking issue for most real estate agents because they don't want you to talk to the seller and find out the truth.
Steven Jack Butala:
It's a luxury to do the deals that we do because we get to talk to the seller. We talk to the seller from day one and we talk to them at the end. There's no real estate broker or anybody involved to screw up the deal. So it's opposite of what real estate agents think. We're the buyer, we're not going to screw the deal up. Or if we do screw the deal up, it needed to be screwed up. Talk to your seller-
Jill DeWit:
There was something wrong.
Steven Jack Butala:
... Which is, then you shouldn't buy. Talk to your seller, ask him, you just bought this in June-
Jill DeWit:
That's it.
Steven Jack Butala:
... What's going on?
Jill DeWit:
Why are you selling?
Steven Jack Butala:
Well, we changed our minds. We thought we were going to move there but my son went to school over here instead of over here. And that's nine times out of 10, is that you're correct. Or really if you're sensing, use your senses here that, there's going to cost $82,000 to get the sewer connected, which just happened to us by the way and we killed the deal as we found out. That will actually come out most of the time in your regular due diligence scenario.
