Real Estate Agent Egos
Transcript:
Jack Butala: Jack and Jill here.
Jill DeWit: Hello.
Jack Butala: Welcome to the Jack Jill Show, entertaining real estate investment talk. I'm Jack Butala.
Jill DeWit: I'm Jill DeWit, broadcasting from sunny southern California.
Jack Butala: Today Jill and I talk about real estate agent egos and what you should know.
Jill DeWit: I don't know what you're talking about Jack. I have never experienced that, not at all. I'm a little confused.
Jack Butala: We don't ... On this show, Jill and I have a lot to say about real estate agents and the whole real estate agent environment and market, and so we're not picking on anyone specifically, but our whole point, real big picture point is, in a light-hearted way, come on everyone. It's a little bit antiquated.
Jill DeWit: I agree.
Jack Butala: It's a little bit out of the 50s here.
Jill DeWit: Oh my goodness.
Jack Butala: Do you pick up your phone and do you order an Uber or a Lyft, or do you go and wait, stand on the corner and try to find a taxi? You get a lift.
Jill DeWit: Exactly, right off your phone. It's easy.
Jack Butala: We don't have that luxury to sell our house that way, so Jill and I have chosen, in a light-hearted way, to make a little bit of fun of it.
Jill DeWit: Oh, this is going to be good.
Jack Butala: That's all. That's what it's about.
Jill DeWit: Exactly.
Jack Butala: Keep the hate mail coming, I love it actually. It's fuel.
Jill DeWit: Totally.
Jack Butala: Before we get into it, let's take a question posted by one of our members on the JackJill.com online community. It's free.
Jill DeWit: Okay. Joe asks, I offered $300.00 an acre in Elco County, Nevada, northeast corner of the state. I was fortunate to open my mail today from a seller who is willing to sell me two properties quite close to each other, 1.3 and 2.7 acres in the same subdivision for $2,200.00. They are five miles from Elco proper, where there is a Wal-Mart, Home Depot, etc. Both have access but not much else. Comps seem to be about $100.00 to $1,500.00 an acre, for properties that are further from town than these. It brings my acquisition price up to $500.00 an acre, and really burns most of my seed money. I'm a little confused about sitting on the properties for too long, since stuff in this part of the country seem to sit for a while. However, taking down two properties in one quick deal may be worth it. Thoughts?
Jack Butala: Well I'll tell you, you're asking, you did everything right. You're asking the right questions.
Jill DeWit: Yep.
Jack Butala: You're kind of at that moment of truth where you're staring at the deal saying, "All right, I did everything right, be careful what I wish for," so you're going to have to make that decision yourself. I will tell you that this pricing, in this county specifically, and the area where you're talking about, I'm really familiar with it. We're intimately familiar, and it's a little bit pricey for my taste, but do I think you can easily double your money on these deals? Yeah.
If you were priced at $300.00 an acre for a 6,000 acre ranch, I would say you're off your rocker. That would be closer to $70.00 an acre, but these properties are small, and I think you're pretty relatively new at this, and I think these are two really good starter deals to purchase and go through the w...