No One Understands Land (LA 1050)
Transcript:
Steven Butala: Steven and Jill here.
Jill DeWit: Hi.
Steven Butala: Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.
Jill DeWit: And I'm Jill DeWit, broadcasting from sunny Southern California.
Steven Butala: Today Jill and I talk about how no one really understands land
Jill DeWit: And no one really understands women. I had to get that in there.
Steven Butala: Is that how this is going to go?
Jill DeWit: [inaudible 00:00:23] set this up. Yeah. Well, I think when I wrote the ... I don't know when we were doing the topics if I wrote a [inaudible 00:00:28] like that. That was your ... I'm being funny. I'm trying to be funny.
Steven Butala: So yesterday's episode was called What to Expect From Your First Mailer and all I kept thinking was that silly book when you have your first baby, what to expect when you're expecting.
Jill DeWit: Exactly.
Steven Butala: But I actually held that in unlike what just happened with you.
Jill DeWit: Oh, sorry. I guess you're a better person than me.
Steven Butala: No, not that. Just no. No.
Jill DeWit: Okay.
Steven Butala: But now I know how it's going to go, so I'm just going to let it all out.
Jill DeWit: Oh okay.
Steven Butala: Before we get into the topic, let's take a question posted by one of our members on the landinvestors.com online community. It's free.
Jill DeWit: Ben shares, "I finally got a good response to a mailer I sent out but everything coming back is either wholly covered or partially covered in wetlands." Interesting. "I have no idea how to price this or if I should even bother since it's not buildable. Any suggestions on how to come up with a value for wetlands or do you just automatically turn them down? Thanks."
Steven Butala: It's one of those topics where I stared at it and I said, "Should I include this? Shouldn't I include this?" We haven't talked about wetlands in probably two years on this show. Wetlands are a property that is either intentionally designated by a municipality, like the city of Los Angeles. There's big expansive open spaces of real estate that ... specifically close to Marina Delray, that have been designated as wetlands either for environmental reasons, like there's special ducks that live there, or it's real estate that needs to be included in the development from a drainage standpoint and all that. A lot of reasons for wetlands.
Jill DeWit: Is it like corporate engineering too?
Steven Butala: Yes, yes, exactly Jill. Explaining how that all works is beyond the scope of this podcast but if you're into it you can get into it on Google and find out what it's all about really quickly.
Steven Butala: And then the other type of wetlands is what you find in Florida, which is just marshland. It's bayou type stuff and there's not as much in the West coast, but there's tons in the Southeastern part of the country. And that over the years people have figured out it seems. They'll build on floating houses or they'll adjust to the environment so there's a lot of regulations this day and age, both environmental and just building code stuff that unfortunately make it harder for people that are creative and how they want to live. They make it harder, so.
Steven Butala: Wetlands themselves, to answer the question directly, we don't buy at all. And if you made a mistake and sent out a bunch of mail, and we've all done something like this,