Our Land Business on the Road (LA 1594)
Transcript:
Steven J Butala:
Steve and Jill here-
Jill K DeWit:
Hi.
Steven J Butala:
Welcome to the Land Academy Show, entertaining land, investment talk. I'm Steven Jack Butala.
Jill K DeWit:
And I'm Jill DeWit broadcasting from the valley of the sun.
Steven J Butala:
Today Jill and I talk about our land business, on the road.
Jill K DeWit:
I would like to start by saying, here's what happened. We are doing our show, our land business on the road goes great, but our podcast recording on the show, not so great. So we were supposed to record these on the road last week, but from the campsite, which was a beautiful lofty goal for us, but totally, totally failed. So it didn't, it just didn't work. It's like you can't. So we're going to talk about that. What the, my point I want to make today is, and I'll just to give you insight and we'll explain more, is your land business can just be seamless on the road, I promise.and I'll fill you in how, but if you have a podcast or you do weekly zoom calls or some big webinars or things like that, no, that, no, you can't be seamless from a campground or a boondocking.
Steven J Butala:
Well I'm working on that-
Jill K DeWit:
Okay well-
Steven J Butala:
Star Lynx coming, and it's not available.
Jill K DeWit:
It's not there yet. That's my point. So...
Steven J Butala:
What she's specifically referring to is the internet connection-
Jill K DeWit:
Right.
Steven J Butala:
Everything else with the equipment from the, oh, that's great.
Jill K DeWit:
Well, and I can get in enough to do the land business-
Steven J Butala:
Yeah-
Jill K DeWit:
So I'm going to, I'll fill you in.
Steven J Butala:
Yep.
Jill K DeWit:
Thanks.
Steven J Butala:
Before we get into it, let's take a question posted by one of our members on the landinvestors.com online community. It's free. And don't forget to subscribe to the Land Academy YouTube channel and comment on the shows you like.
Jill K DeWit:
Shannon wrote: Is it common when people are buying a mobile /manufactured home, to put the land that the mobile home company offers, to pay off the loan and then roll it into the balance of the manufactured home they're buying? [inaudible 00:02:06] Put it, put on the land that they're doing. Okay. Got it.
Steven J Butala:
So I think what you're getting at is, well, let me kind of rephrase the question as I understand it. There's a mobile homes that are installed on land that you own, and we're in a land business. So we love that. Let's say it's an acre, acre and a half somewhere. And there's mobile homes in a mobile home park that somebody else owns. A mobile home park. And so in that case, you owe the person who lives there, owns the mobile home itself, but not the land under it, and they usually pay land rep. Lenders love the first type and so to we.
Jill K DeWit:
Mm-hmm (affirmative).
Steven J Butala:
Where you actually own the land, and it really, really helps to get a loan successfully done, especially on our newer mobile homes. So, there's two different types of mobile home scenarios. It's a lot harder, although it's very possible and plausible to get a mobile home loan just on the mobile itself, the way you would get a car loan, it's personal property, but our way is way better. In fact, in my experience in doing land and mobile home scenarios, they've been, the way that we have it priced, no one's ever been turned down for a loan under, when it's combined land and mobile home.
Jill K DeWit:
Mm-hmm (affirmative). It's amazing to me now, by the way, what people are getting loans on. We just have it, we have an offer right now, that's going through, it was a buy for 25, sell for 65. The guy is borrowing $52,000 and he's paying the rest cash and he's already pre-qualified-
Steven J Butala:
Wow.
Jill K DeWit:
And it's just rural vacant land, not mobile, but so, it's just getting easier and easier by the way, for these people to get financing and all kinds of t...