Real Estate Cliches Phrases and Sayings
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Jill: This Jill Dewitt for Land Academy. Welcome to our Cash Flow from Land show. In this episode, Steven and I talk about some sayings and clichés associated with real estate investment. Some are great. Some are really silly. I think this will be fun. Before we do, let's hear a question from a caller.
Steven: If you have a question please dial 888-735-5045 and leave us your question, and if you're an interesting person, we'll have you on the show.
Jill: I love how you sneak that in there.
Steven: Here's a question. Jill, Walter from Albuquerque asks, "I need cash. I need cash. Do you want to buy my land?" Oh, my gosh. I wonder how long that's been sitting there
Jill: That's fantastic. Yes Walter. Actually that's not always yes.
Steven: Yeah, the answer is yes.
Jill: No. Not always. It's got to have one of the four A's. I have to say that.
Steven: What are the four A's again? If you're new to this, first of all where have you been? Second of all ...
Jill: You got some catching up to do.
Steven: Jill and I gauge every piece of property we buy. Not the financial part, but just whether or not we should buy it, by what we call the four A's. It's something I came up with a lot of years ago. Go ahead.
Jill: I'll tell you them all, and then I'm going to go back and we'll go through them. They are Access, Affordability, Acreage, and Attribute. Access.
Steven: Can you get to it?
Jill: Can I get to it?
Steven: Without a helicopter?
Jill: Exactly. Is there a road? What's the road condition like? That kind of thing. That's important, you need to know. Affordability. That goes without saying.
Steven: The cheaper the better when it comes to real estate.
Jill: Exactly. It's got to be the right price. Can I afford it? Does the price make sense, too, by the way? Am I buying it for something where I can try and sell it and still make a good profit.
Steven: Not are the payments affordable. Is the price affordable.
Jill: I'm paying cash.
Steven: That's for another show. That's right.
Jill: Exactly. Acreage. Bigger the better. You got more acreage I'm probably going to have more buyers. Last was attribute. Is there something special about it?
Steven: My favorite.
Jill: Is it just outside of something cool in Southern California? Is it in a pretty mountainous area with lots of trees? Is it by a lake?
Steven: Is it close to water, mountain views? Is it close to the Grand Canyon?
Jill: Vegas?
Steven: All of that.
Jill: Something people can drive to if they wanted to.
Steven: Can you build a cabin on it? Are there cabins right next to it?
Jill: Is it zoned that I could put a mobile home there, or I can put a trailer there as long as I want, kind of thing? There's lots of things are attributes.
Steven: You want to make your property look special. When people are out on the internet looking to buy that property, you want to tell them something great about it. I'll tell you, just as an aside, I have never owned a property that it's okay to put a mobile on for longer than a week. They just fly.
Jill: They do.
Steven: Mobile properties are great. I don't mean mobile home parks.
Jill: What that means is, some counties in some areas require that the properties are site built, meaning a foundation and real wall. There's a lot more money, and time, and expense, and planning that goes into it. You can't just roll up with whatever you have. Even a tiny house, it's not site built. Are there some ways around that, now? I don't know, but the majority of what we deal with that you can have a mobile home or camp out th...