No Time Like the Present (LA 891)
Transcript:
Steven Butala: Steve and Jill here.
Jill DeWit: Hello.
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 there's no time like the present.
Jill DeWit: Yeah.
Steven Butala: Before you go "Oh my god, Steve, really? Are we going to talk about why Land Academy ...
Jill DeWit: Spiritual.
Steven Butala: ... Is successful again? Are you guys going to seriously sit there and spend 20 minutes talking about that again?" No. No, we're not. Actually, we're probably not going to talk about Land Academy at all.
Jill DeWit: Okay.
Steven Butala: I think it's more just like ... This is more of like an extension of the show that you did. I guess it was last week. Yeah.
Jill DeWit: Last week. Yeah. Exactly.
Steven Butala: I have a lot of questions for Jill. This is kind of her topic.
Jill DeWit: Okay.
Steven Butala: Before we get into it, let's take a question posted by one of our members on the Land Investors Online Community. It's free.
Jill DeWit: Ricky asks "Does offering a higher price per property in a more urban area with the intention to sell the property faster work?"
Steven Butala: Well, this is brilliant.
Jill DeWit: I like this.
Steven Butala: Heck yeah, that works. That's the definition of the velocity of money within kind of a real estate environment. It's the real estate day trading model, like I like to refer to. I think what you're really asking is I found a good consistent market and I don't want to offer $200 an acre. I'd really rather offer $800 an acre on property that's probably worth 1,200 to $1,500 an acre. Kind of up the anty a little, add a zero as Jill says and make sure that property is trading really quickly within that environment. It's really funny that you bring this up too because that's model of House Academy. Only buy properties that are in really high velocity turning markets. There's a scientific way to do it. I explain it on House Academy. You will make money.
Jill DeWit: Yeah. Because the model is you're going to offer more than other people, so they're going to accept your offer. You're going to obtain more property and then you're going to sell it faster. Maybe you're not going to double your money, but that's okay. You're going to do much more property a lot faster and easier and you're going to do just fine.
Steven Butala: Right.
Jill DeWit: Yeah. Don't we have money [inaudible] and we use it a lot.
Steven Butala: This is what we do.
Jill DeWit: It's not necessarily, especially for house, that's not what ... You can't do that. It's not what we do. You can, but I don't want to do that.
Steven Butala: We talk about this in the live show. There's huge opportunities to hit home runs with rural vacant land because it's unwanted. The nature of it is unwanted. It's never going to get used and the decision that people make to sell unwanted land is different than why they sell infill lots or houses. With infill lots in an urban area and houses specifically, they know they have something.
Jill DeWit: Right.
Steven Butala: They're doing it because it's so convenient. That's the reason they're selling it to you versus listing it on the MLS and having to clean everything out....