Mastering Transaction Work Flow with Justin Sliva (LA 867)
Transcript:
Steven Butala: Steve and Justin here, welcome to the Land Academy show, entertaining land investment talk. I'm Steven Jack Butala broadcasting from sunny southern California. Today we talk about mastering transaction workflow with Justin Sliva. This is day two of having Justin here fortunately to profess his wisdom on how to do real estate transactions but worry not, Jill is going to be permanent.
Justin Sliva: Did you miss me? You getting lonely with me?
Steven Butala: The permanent cohost.
Justin Sliva: You feel the little lack of spooning going on over here? I'll hold your hand under the camera if you'd like. I don't mind.
Steven Butala: Justin's like, "Really? Do our shoulders have to really touch?"
Justin Sliva: I told you I don't mind.
Steven Butala: I don't either that's ... yeah, let's just stop that right there.
Justin Sliva: Yep, rated G show, rated G.
Steven Butala: Before we get into it, let's take a question posted by one of our members on the LandInvestors.com online community. All right I'm going to have you answer this question [inaudible 00:00:58] if I ask it.
Steven Butala: Alex asks, "Hey everyone, currently trying to find three counties to send my first mailers to. The issue I'm running into is finding enough properties on RealQuest to warrant a data scrubbing. I enter the exact criteria list into RealQuest as shown on the Land Academy video but I keep getting extremely low amounts of records for every county. Most counties return between 20 and 40 records that match. Am I overthinking the land use portion of RealQuest or am I just missing something altogether? Searching for unapproved lots between four and a half and six acres with a land value between zero to 10000." That's the problem. The land value between zero to 10000 is way too small.
Justin Sliva: Yeah, especially if you're in part of the eastern states.
Steven Butala: Yeah. "Most of my searches have been in the eastern states like Pennsylvania and Georgia and other random counties scattered all over the east coast. Not sure what matters or not?" I think we answered the question. He answered his own question.
Justin Sliva: Yeah. Yeah.
Steven Butala: Nine times out of 10, everybody answers their own question.
Justin Sliva: Yeah, the one thing, you're doing 4.6 to six acres, why don't we ramp that up and try 20?
Steven Butala: In those states too, I would go ... I was actually going to recommend going down.
Justin Sliva: Going down? No.
Steven Butala: 'Cause there's a lot more smaller parcels than there are larger ones, especially east coast.
Justin Sliva: Yeah, you have some rural parts there that you forget about that come back with these ... when you start looking at the Virginias and things like that, you have some areas that are pretty rural and they're old farm lands and things like that to where you can make a good amount of money on the margin there. I'd say go up in property size maybe.
Steven Butala: Just go both.
Justin Sliva: Yeah. Go up and down.
Steven Butala: Just mail it all.
Justin Sliva: One to one hundred and adjust the pricing.
Steven Butala: You ever done that?
Justin Sliva: Yes.
Steven Butala: So have I.
Justin Sliva: Yeah.
Steven Butala: Does it work for you?