Quick Land Sale vs. Retail Price (LA 1300)
Transcript:
Steve:
Steve and Jill here.
Jill:
Hello.
Steve:
Welcome to the Land Academy Show.
Jill:
Oops.
Steve:
Entertaining land investment talk. I'm Steven Jack Butala.
Jill:
And I'm Jill DeWit, broadcasting from sunny Southern California.
Steve:
Today, Jill and I talk about a quick land sale versus retail price.
Jill:
Right.
Steve:
You want to explain that title? Because it's kind of your title.
Jill:
Oh, is it? Okay. It's kind of like, think about the kind of person you want to be. A quick land sale is for me, just how we operate. I used to say I'm a wholesaler, but that even gets confused. I don't want people to ... People have negative thoughts sometimes-
Steve:
Yeah, it became a negative term.
Jill:
It did, and it's so silly because I think people see a wholesaler as someone who doesn't acquire property, all they do is assign a-
Steve:
Get in the way.
Jill:
... property. Exactly. Assign it versus yeah, virtually get in the way. I am with you. And the way we do it, which is still wholesaling. People don't, I don't know why it got all garbled. We buy the property. I will seek out the property. I will buy the property. I will pay the full price for the property. We own it. We close escrow, it's in our name. Now I'm going to turn around, mark it up and sell it. So I can choose to quickly double my money and get out or I can, Hm, I can mark it up and some people do this, they get a little greedy and they think about retail. Why would I sell a property, Jill, that I paid $20,000 for? Why would I sell it for $45,000 tomorrow when I can sit and wait and get seventy for it. Because that's really what it's worth. And my question is, why wouldn't you?
I mean, do you really want to sit and babysit the property and talk to all the people who want to go drive on it and roll around on it and camp on it and love on it? Have a virtual thing of what their tiny home's going to look like on it and see their family running through the field on it. Dream it up. And waste all that time. I'm kind of getting into the show, but that's describing it and we'll talk more.
Steve:
The undertone or between the lines here is, the ethics of what we do. That's what I want to get into.
Jill:
Oh, really?
Steve:
Yeah, because I haven't heard it recently, but I've heard people in the past, give me a hard time about what we do for a living. We haven't brought this up.
Jill:
I haven't heard this in a while. Okay, good we'll talk about that.
Steve:
We haven't brought this up in a long time, but I think it's worth talking about.
Jill:
I love it.
Steve:
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.
Jill:
Okay. Gina wrote, "Hello. My name is Gina. I've been doing land investing for a few years now and I guess I'm here to try and see if I can improve my workflow. I send out about 2000 letters a month, but I'd like to make that close to 5000." Thank you, Kevin. One of our moderators. Yep.
Steve:
Thank you, Kevin, by the way from me.
Jill:
Yeah. "Any tips, tools tricks you use to scale? I currently work a full time job and simply don't have the time to sort through all the sites and piece together that many records. 2000 sites would be my max without going crazy. Any help from experienced members, such as yourself, would be much appreciated." Cool. So I'm wondering what sites she's going through to piece together records. I'm thinking if she's a member, you're not piecing anything together, you're just-
Steve:
She's a member.
Jill:
Okay. So you should be using Real Quest Pro, having an idea before you go into there to download the data, you've spent a lot of time picking the areas, picking the County and getting it all from there. You're holding back. Go.
Steve:
In the interest of education, I'm going to be very plain speaking here. I don't see the difference between processing 2000 or 5000 at all. In fact,