Monday Deal Review Huge Acreage Takedown
Jack Butala: Monday Deal Review Huge Acreage Takedown. 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 with Jill DeWit.
Jill DeWit: Hi.
Jack Butala: Welcome to our show today. In this episode, Jill and I talk about our Monday Do Review. Today's topic are huge acreage takedowns. Some people specialize in them, some people avoid them. We'll talk all about it. Before we do, let's take a question posted by one of our members on Successplant.com, our free online community.
Jill DeWit: This one is a family post. I love how they put that. They are the Watson family. The Watson family asked: The benefits of having multiple properties on the same deed have been discussed, but what about when closing through a tittle company? In a scenario where there's a seller with multiple properties in the same county, can you typically close through a title company and have all the properties covered under the same title policy?
Jack Butala: Jill DeWit, you are so qualified to answer this question.
Jill DeWit: Yes.
Jack Butala: That is the answer.
Jill DeWit: Done it.
Jack Butala: That's way more attractive.
Jill DeWit: Yes. Definitely.
Jack Butala: The truth of it is it's almost always, I can't think of a scenario where it's not almost always, more attractive to purchase multiple properties at once. I call it the buy a case and sell it by the bottle methodology. Yeah. A title policy generally will cost pretty close. If you buy one property with a title policy and you buy 50 properties on a same title policy, this is in general, they are very close in price. The work that's involved and the risk, because it's coming from one seller, I don't know much about insurance, but apparently the risk is close to the same because the price is the same and the work's the same.
Yeah. I've done deals where it's a release or a takedown, where every month we buy a certain amount, and the title policies done on hundreds and hundreds and hundreds of properties all at once, upfront from one seller. Yes, yes, yes, and yes. The fact that they're all on one deed, or multiple deeds, it's a little bit confusing. It gets confusing because of car titles. You could never have 5 cars on a car title, right?
Jill DeWit: No.
Jack Butala: You can have 5 properties on one deed and then sell them off each individually with individual deeds. That's the universal. Once you do 5 or 10 deals, you realize that's just how it goes. That's the norm.
Jill DeWit: You know what's interesting, too? I was going to add for the Watson family, this sounds like a big deal transaction, but it's not. It's easiest for you of all of them because they're doing everything for you all at once with all the properties and the same seller, so I love these. These are fantastic. Another thing I'd like to point out is when you have title insurance, make that a big deal in your posting. That really is a nice thing. You paid extra for that, so you want to brag about that.
Some buyers will really go, "Oh." They like that coming into it, they can see these must be bigger deals, that you're paying for it, too. Maybe there's a trust or something involved because that's where you're bringing in a title agency, or these are more valuable properties. Either way, that's great. Make sure you brag about that and price accordingly. Maybe you mark it up a little bit because you've already done some of the extra work that people might want.
Jack Butala: We literally put a link, if you go to Landstay.com, you can see our completed sales. You'll see a link to the actual scanned on policy. 10,000, way more than that, actually, properties that have been purchased,
