Never Maximize Land Sales Price
Transcript:
Jack Butala: Jack Butala with Jill DeWit.
Jill DeWit: Hey there.
Jack Butala: Welcome to our show today. In this episode, Jill and I talk about why it's never a good idea to maximize your land sales price. What?
Jill DeWit: What? Why would I leave money on the table, Jack? That sounds crazy.
Jack Butala: Okay.
Jill DeWit: That's crazy talk.
Jack Butala: Before we get into it, let's take a question posted by one of our members on the LandInvestors.com online community, its free.
Jill DeWit: Amy asked, "Okay doin' some research here, I've looked at back tax websites and lists, where do I go now?"
Jack Butala: Like where do you find it?
Jill DeWit: Actually, maybe that's what she's asking, that could be it. Where do I go?
Jack Butala: There's a few places on the internet.
Jill DeWit: Where do I get this information? Why do I need it? You what, can I make this two parts, Jack?
Jack Butala: Yeah, sure.
Jill DeWit: I would like to explain why the heck we even want this information, 'cause we all know we don't just mail back tax properties so, why do I even need this information? And then where do I go to get it?
Jack Butala: It's always a good idea to feel out or test for reason the back tax situation in a given county, like for some reason in northern Utah and Idaho there are no back tax sales ever. It's been like that since I've been in the business in the 90s, I don't know why.
Jill DeWit: I have a guess but I'm not gonna say on here. What if its- Go ahead.
Jack Butala: So, in general, this may or may not be true, but in general for us, where there's no back tax issues, no back tax properties in any way, properties don't go back, there's no real opportunity for rock bottom price. The business that we're kind of in, scrapin' the bottom of the real estate market. Can you buy houses there for a lot less than they're worth, heck yes. Can you buy land there for a lot less than its worth, yeah but you can't do it in a scrape the bottom, $100 an acre fashion. What we teach is, feel out the county to see if there's a bunch of back tax, like Mohave county, Arizona's got like 48,000 back tax properties.
Jill DeWit: Mm-hmm (affirmative)
Jack Butala: And we do really well there.
Jill DeWit: Mm-hmm (affirmative)
Jack Butala: And so do some of our members. That's why its important.
Jill DeWit: It's an indicator.
Jack Butala: It's an indicator. Well, once again, less than one sentence.
Jill DeWit: 'kay.
Jack Butala: If you listened to the show yesterday- Jill's behind the bookcase right now.
Jill DeWit: Yeah. Thanks a lot. "Hi, over here, its me."
Jack Butala: So, where the hell do you get this information? I got tired of answering this question so, I posted it on LandAcademy permanently. If you go to the resources section on LandAcademy.com and look for back tax lists, you'll click on it and there's an XML table in there of like 24,000 lines of data-
Jill DeWit: Mm-hmm (affirmative)
Jack Butala: For historical back tax, which counties have 'em, which counties don't. Just search for that county name and you'll see it in there, it'll indicate it. It'll help you chose a county about where to mail.