Jill Friday - Short Cuts (LA 1697)
Transcript:
Steven Jack Butala:
Steve and Jill here.
Jill K DeWit:
Hi.
Steven Jack Butala:
Welcome to The Land Academy Show, entertaining land investment talk. I'm Stephen Jack Butala.
Jill K DeWit:
And I'm Jill DeWitt broadcasting from the Valley of the Sun.
Steven Jack Butala:
Today it's Jill Friday and she's going to talk about shortcuts.
Jill K DeWit:
How do you think I feel about shortcuts?
Steven Jack Butala:
I'm pretty confident that you're not a big fan.
Jill K DeWit:
Nope, Nope. Not a fan. I'm going to give you ... we got to talk. This is brutal truth week, right? Sorry. I have a tickle in my throat. So I'm going to talk about first of all, when it's not okay, and then I'm going to talk about when it is okay.
Steven Jack Butala:
There's a massive difference between shortcuts and laziness.
Jill K DeWit:
That's usually what it is.
Steven Jack Butala:
Because laziness ... I've driven by laziness at times. And I'll tell you when I catch myself being lazy, the first thing I do is find somebody else to do this stuff, because I obviously don't want to do it. That doesn't mean I can't get it done. If I'm taking a shortcut, I'm just trying not to do it all together.
Jill K DeWit:
We're going to talk about this.
Steven Jack Butala:
That concerns me a lot.
Jill K DeWit:
Okay.
Steven Jack Butala:
Plus, well, it's Jill Friday.
Jill K DeWit:
We're going to talk about that.
Steven Jack Butala:
Jill's going to talk and I'm going to listen.
Jill K DeWit:
There you go.
Steven Jack Butala:
Before we get into it, let's take a question posted by one of our members on the landinvestors.com online community. It's free, and don't forget to subscribe on The Land Academy YouTube channel. Comment on the shows you liked.
Jill K DeWit:
Sandy wrote, "How do you come up with a price when there's nothing else for sale or sold in the area on Zillow, Redfin or Realtor? Do you keep zooming out or do you have another method? Or just give up?"
Steven Jack Butala:
You just give up.
Jill K DeWit:
This is a shortcut day. Yeah. Yeah. Who cares? Move on to where you do have some data. Give up. Shortcut. Now wait, you asked somebody else to do it for you. How sad.
Steven Jack Butala:
Nobody's ... We're not making fun of you, Sandy.
Steven Jack Butala:
Wait or copy someone. Here's a even better idea. Just copy somebody else.
Steven Jack Butala:
We don't give up on anything.
Jill K DeWit:
This is awesome.
Steven Jack Butala:
Giving up is not even a discussion.
Jill K DeWit:
You know, there's other ways.
Steven Jack Butala:
There's always data.
Jill K DeWit:
You got to dig.
Steven Jack Butala:
Yep.
Jill K DeWit:
You got to get in there Sandy. You can give me any zip code, any area and I'm going to come up with some numbers. I'll find them.
Steven Jack Butala:
I agree.
Jill K DeWit:
And if I can't find really good numbers, I can at least get a gauge in the area. For example: what if it's somewhere that I'm really having a hard time pricing land, but I can get house prices and house prices are either starting at $4 million on the beach, because I'm trying to [buy 00:02:45] I got to cut a good idea how that's going to go there.
Steven Jack Butala:
Yep.
Jill K DeWit:
Or I can buy a house for $4,000. I got a good idea how the line prices are going to go there. And so in both of those extremes, I at least know that I don't want to play in that pool.
Steven Jack Butala:
Yep.
Steven Jack Butala:
There's all kinds of alternative ways to find data. And I know we're poking fun and stuff, but this is a real issue. Lack of data in certain real estate markets in a lot of real estate markets, especially if they're rural is a, is an issue. So there's a couple ways to go on this and all kidding aside, you can move on, and if you're brand new, I would move on. If you're brand new, this is senior in high school stuff. This is not, I've just started doing this. Housing values are a really smoking great indic...
