Offers Academy for Mobile Homes
Jack Butala: Offers Academy for Mobile Homes. Leave us your feedback for this podcast on iTunes and get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening.
Jill DeWit: Jill DeWit with Jack Butala here. Welcome to our show.
Jack Butala: Hi. Hi. We changed our role today.
Jill DeWit: In this episode Jack and I talk about Offers Academy for mobile homes. Who knew this worked for all these property types? Great show today. Happy that it's Friday. I'm sure you are also, Jack. But first, let's take a question posted by one of our members on the LandAcademy.com free online community.
Jack Butala: Awesome. Keira ... Is that how you pronounce that word?
Jill DeWit: Perfect. You did it.
Jack Butala: Keira asks, "This is our first mailer so we haven't completed our first deal yet. We are picking an easy one for that first deal, but I have a question about some of the others. Several people in west Texas owe about $450 on a five-acre property for $500 and they replied and they'd be glad to take the $500 if I pay off the fees or the taxes, yes. The property would cost me about $1,000 so that's a no go. My question is, do I politely tell them, "No deal," or do I counter with, "$100 and I'll pay your fees"? Or even, "The best I can do is the pay the fees and take it off your hands."" You are so qualified to answer this question.
Jill DeWit: I know.
Jack Butala: I'm glad we reversed our roles today.
Jill DeWit: This is fun. You know, I like the latter. I'd do both.
Jack Butala: I'd probably do the last one.
Jill DeWit: I'm a fan of, "Hey, I'll take it off your hands. I'll give you 100 bucks. You guys can go have a nice dinner." I really have had people that said, "You're right. We're going to go out and have a nice dinner and just say, "Okay, it's over with. It's done. I got something for it." I think they like that, too. There's money coming to them when they're doing the signing. There's a little something that they're going to get out of it and it makes them feel good.
Jack Butala: I agree.
Jill DeWit: I'm with you Keira and you're 100% right. There's sometimes that when you sit, gosh, and you do the math ... This is one of the funny things I love about the people that think that there's nothing but gold in these back taxes situations, because sometimes the back tax situations negates the deal. There's more taxes owed than what it's worth. There's a reason why they stopped paying and why they're about to walk away. They really want to get something out of you because they know. You have to do your homework, extra homework, to catch up and figure out, "Oh, it's not a good deal. Well, that was a waste of my time." Yeah, it was.
You did the right thing. I'm glad you did your homework and you know where they stand on the taxes. If they're still good properties and you're still interested, but don't negotiate. I'd say, "Look, here's the best I can do. I mean, it's a good property. I'll give you 100 bucks and I'll take care of everything else. I can have a notary to you on Tuesday." If they have any hesitation, they're not into it, whatever, walk away. It's okay.
Jack Butala: Yeah, I mean, my answer is very close to Jill's, especially because you're brand new. If you'd been doing this for five years, really the question you'd be asking is ... Or you already will have developed a good system for this, but the least amount of talking is the best. If you have to go negotiate and talk about taxes and now you're looking up every single property and it's not going to be $450 per property every single one. It's going to be $472 and $432 and now you've got to contact the county and write a check. See? This is not what this is all about. This is about you making it so easy on yourself that it's silly. This is a lot of work. When I say, "And you should do the deal," I think you really should because you're brand new and you did everything ...