Land Business Expenses Line item by Line Item (725)
Transcript:
Steven Butala: Steve and Jill here.
Jill DeWit: Hi.
Steven Butala: Welcome to the Land Academy Show. I think it's Friday.
Jill DeWit: I hope it's Friday.
Steven Butala: Entertaining land investment talk. I'm Steven Jack Butala.
Jill DeWit: I'm Jill DeWit, broadcasting from beautiful, sunny southern California.
Steven Butala: Today Jill and I talk about, well, we finish what we started yesterday. Land business expenses, line item by line item.
Jill DeWit: Because Jill got a little ahead of herself. That's the reality here. Sorry.
Steven Butala: This wraps up the velocity of money week here on the Land Academy Show.
Jill DeWit: Totally.
Steven Butala: Before we get into the actual topic, or finish, I should say, let's take a question posted by one of our members on the landacademy.com online community. It's free.
Jill DeWit: Cool. All right. Luke asks, "I got a deal to buy a lot made up of three parcels for $20,000. There's one smaller lot in the area for $20,000 listed no stream. Mine is on a creek and a paved road"-
Steven Butala: Oh my gosh.
Jill DeWit: "Power line and water hookup. The road is right on one side of the creek, and the majority of the land is on the other side."
Steven Butala: Oh. This is great.
Jill DeWit: "Bridge, anyone? Or, is that too much to ask for in a buyer? Could"-
Steven Butala: Okay.
Jill DeWit: "A bridge to three lots, could build a bridge to three lots and sell two to pay for it, and then some. Any thoughts?"
Steven Butala: Yeah. So-
Jill DeWit: This is a little-
Steven Butala: This is a great deal. This is, not run to the bank, but this is a deal where you ... remember that property we had a while ago where you needed a boat to get to it?
Jill DeWit: A whole moat. Pretty much. It was hilarious.
Steven Butala: How fast did we sell that?
Jill DeWit: It was hilarious. It was beautiful.
Steven Butala: There are people, buyers and users out there, that want to get lost.
Jill DeWit: Yeah. They want it-
Steven Butala: Water-
Jill DeWit: They won't want the bridge.
Steven Butala: Water access only is, yeah.
Jill DeWit: Yeah.
Steven Butala: This is a buy it as is, sell it as is, and mark it. This is probably mark it the heck up. Not even double your money. This is so special-
Jill DeWit: You got two water front properties.
Steven Butala: Yeah.
Jill DeWit: Because one of each side, by the way. Thank you.
Steven Butala: There's limitless uses. I haven't told the story in a while. I bought a property that was the side of the Grand Canyon, literally. Rock climber. When it was subdivided, it eroded after that, and I couldn't keep that in the inventory. Rock climbers love to stick a plaque on the wall that says, "I climb on the rocks that I own." So, yeah. This is-
Jill DeWit: Thank you for not being a rock climber. Sheesh. Could you imagine?
Steven Butala: No. No, I can't.
Jill DeWit: You come home on those funny shoes, and a bag. You have a pouch with the bag of powder hanging from your hip...