Securing Funding for Good Deals (997)
Transcript:
Steven Butala: Steve and Jill here.
Jill DeWit: Hello.
Steven Butala: Welcome to the Land Academy show. Entertaining land investment talk. I'm Steven Jack Butala.
Jill DeWit: And I'm Jill DeWit, and we are broadcasting from sunny southern California.
Steven Butala: Today, Jill and I talk about securing funding for good deals.
Jill DeWit: I love talking about money.
Steven Butala: I love talking about good deals.
Jill DeWit: Good. We're made for each other.
Steven Butala: Yeah.
Jill DeWit: I'll get the money, you get the deals. You think I'm kidding? That's how we roll.
Steven Butala: No good acquisition, regardless of size, character, content, should ever go to waste. Ever.
Jill DeWit: Or cost.
Steven Butala: The biggest reason I've seen them go to waste is, "I just don't have the money to do this deal right now. Hey, seller, this is a great deal. I really want to do it. Can you wait until next month because I've got a lot of deals that I'm doing right now, and I don't have an extra 22,000 bucks to buy a piece of land, but I really do want to buy it, so what do you say we talk in six weeks, and I'll let you know if I can buy it then?" That will never work.
Jill DeWit: Yeah. Or, the bigger one is, "Hey, you said you own what also, and you want to own all of that? Gosh! Shoot. That totally fits my buying criteria but, God, that's so expensive. I don't know if I can come up with that much money. I'll just buy this little one. Thanks for showing me. Thanks for sharing."
Steven Butala: Before we get into the topic, let's take a question posted by one of our members on the landinvestors.com online community. It's free.
Jill DeWit: Collin asks, "Why does Realtor.com report data for 1,000 counties versus it's 3,142-" It should be 3,144 for all the counties and parishes.
Steven Butala: Why does Realtor report at 1,000 counties than really in reality, there's 3,144 counties in the country. And, here's why.
Jill DeWit: I'm going to write down what I think is the answer and then I'm going to see if I'm right, okay?
Steven Butala: There's two reasons, but the real reason is this. Houses are only really in about 1,000 counties that matter. There's so much more housing data than there is land data because that's what everybody cares about because they have to live there. So, they have chosen-
Steven Butala: Well, Nielsen ratings has chosen those 1,000 counties. That's the second reason. They consider those counties to be the most important and they pour all the- Realtor.com is all about houses. We use it on our show constantly to look at MLS listings for land and stuff, but I'll be honest. That's where they make their dough, buying and selling houses and get in the way of our deals.
Jill DeWit: Can I tell you mine?
Steven Butala: Yeah.
Jill DeWit: 100%, I think it's MLS related.
Steven Butala: Yeah.
Jill DeWit: Because I think back-
Steven Butala: You're absolutely right.
Jill DeWit: I think it's still that way. Not everywhere in the country is there a dedicated MLS for that specific area. It wasn't really needed. I'm sure there's some areas that it's still, maybe now not so much, but back in the day, when MLS started, there was a lot of word-of-mouth going around. That's how you did it. Then, they started the MLS and I don't think it caught on everywhere.