Light Years Ahead of House Rehabbers (CFFL 406)
Recording Location: LAT (i.e. 33.838781) (LONG i.e. -118.391261)
Jack Butala: Jack Butala and Jill DeWit.
Jill DeWit: Hi.
Jack Butala: Welcome to our show today. In this episode, Jill and I talk about how we're light years ahead of house rehabbers. First before we get into it, let's take a question posted by one of our members on LandAcademy.com, online community. It's free.
Jill DeWit: Okay. Eric Held asked, "Looking in a rather sizeable county. I'm looking for ways of staying away from certain parts of the county that don't look so promising. I see two possible ways right off and I was wondering if anyone had tried them and what they thought. In CoreLogic, you can enter as a criteria school district and also mailing zip."
Jack Butala: Oh, Eric.
Jill DeWit: "My concern about mailing zip is that it might rule out some undeveloped areas. However, as best I know, there isn't a square foot of property in any county that isn't placed in zip code area."
Jack Butala: That's true.
Jill DeWit: All right. "Even, if there is no mail delivery. Any way, what about using those criteria for narrowing down the search in a large county? Is there a better way of telling CoreLogic that I'm interested in these areas, but not that?"
Jack Butala: Okay. Jill knows this. These are my favorite kind of questions.
Jill DeWit: Totally.
Jack Butala: They're data driven questions that ... And there's a solution. So let's deconstruct this and I'll try to be not boring and brief.
Jill DeWit: Okay. If I fall asleep, you know you lost a lot of people.
Jack Butala: Don't fall backwards here, okay?
Jill DeWit: Okay then I won't fall backwards.
Jack Butala: 'Cause we're both going to go swimming today.
Jill DeWit: Exactly.
Jack Butala: If the audio quality isn't up to what you're used to by the way, it's because Jill picked a spot where we're almost smack on the beach.
Jill DeWit: And the waves are right behind us.
Jack Butala: And it's kind of nice.
Jill DeWit: It's so pretty.
Jack Butala: This show is the best way to avoid work there ever was.
Jill DeWit: This is very true.
Jack Butala: Let's take a look at how you would and why you would sort data spatially. And what's behind it. Zip codes for instance, in my opinion, are not a good way to ... They're not a good criteria for what we do. Zip codes are set up by the federal government for mail delivery and efficiency routes and stuff. It has nothing to do with value or property type. So great. You're gonna to look for a sizable county.
The school districts same thing. I mean it's really like a congressional district. It's all mapped out for a bunch other reasons that we don't care about. What we care about is the assessor's parcel number scheme. Out west they call it an index map. So, you can really tell where more valuable property or less valuable property based on assessor value. And we all know that's not how we price it, right?
Jill DeWit: Exactly.
Jack Butala: So, it's stick with the assessor parcel number schemes. And all over the country they're called something different. Out here it's called an index map. So that's how you really find lower and higher values in any given county.
Jill DeWit: You know what? That'd be really cool.