Land Investors Take Their Foot Off the Gas
Jack Butala: Land Investors Take Their Foot Off the Gas. Every Single month we give away a property for free. It's super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening.
Jack Butala:
Jack Butala for Land Academy. Welcome to our Cash Flow From Land Show. We show you how to buy property for half of what it's worth and resell it the next day. Great information from me, that's Jack ...
Jill DeWit:
... And inspiration from me, that's Jill. I just totally copied you.
Jack Butala:
Here's some funny stuff that happened to us recently.
Jill DeWit:
That was funny, what just happened to us recently.
Jack Butala:
It really was.
Jill DeWit:
I like that.
Jack Butala:
You guys can't speak, but apparently you can buy some real estate.
Jill DeWit:
Yeah, here we go. I didn't know this happened and I'm sure you do. This, I think, is hilarious. I just learned that some of the properties in Detroit are so goofed-up situations that you can actually buy a property for less than what's owed on the water bill.
Jack Butala:
Yeah, yeah. That's been going on for a long time.
Jill DeWit:
I did not ... I had no idea. Please explain this to me because I think that is absolutely hilarious. The person said, "I'm buying properties that are less than the water bill." What?
Jack Butala:
This has been going more than a decade. This has nothing to do with the country, world-wide recession that we just went through, and hopefully we're out of it. Maybe we're not, I don't know. It has nothing to do with that. It has to do with just everybody wants to move out of Detroit. The real critical problem there ... This is just my opinion because I'm from there, I'm not bashing Detroit, is that in a city block where there used to be 25 houses, there's now 12. That provides a pretty serious, dangerous situation. They're vacant or they're torn down, so the utility companies still gotta run utilities and water and the whole thing, but now they're only servicing half of their customers and there used to be twice the customers. Nobody can operate on 50 percent of revenue with pretty much the same basic cost. That, and it's just ... There's no reason to live there. That's a big problem.
Jill DeWit:
Wait, there's people that like to live there.
Jack Butala:
So I was talking about this with my buddy recently, and this isn't the meat of the show at all, and he said, "One thing that Michigan's got that may be valuable here pretty soon, is water." That might change everything. We'll see. It's got lead in it if you're in Flint, but it does have water. You can buy some crazy real estate super cheap there. I'm not sure what you'll do with it.
Jill DeWit:
Right.
Jack Butala:
It's not just about buying cheap dirt and cheap real estate.
Jill DeWit:
No, I just think that was so funny. I did not know that.
Jack Butala:
isn't that funny?
Jill DeWit:
That's hilarious, yeah.
Jack Butala:
All these years, everybody says something like this, "Why the heck do you want to buy property way out there?"
Jill DeWit:
Right.
Jack Butala:
Well, it turns out we can resell it for a lot more, pretty quickly.
Jill DeWit:
Turns out.
Jack Butala:
Try to resell that house in Detroit really quickly.
Jill DeWit:
Man, you know, there are so many shows and things coming up to, talking about people going off the grid, living out there, just moving out of the city. Like that whole big thing right now that's going on with the whole San Francisco. I don't know if it was a poll or survey or what, there was this whole big thing that we were talking about with some people that a large percentage of people who live in downtown San Francisco are tired of it and they want to...