Stuff Your Father Never Told You (LA 978)
Transcript:
Steven Butala: Steve and Jill here.
Jill DeWit: Hi.
Steven Butala: Welcome to the Land Academy show, entertaining land investment talk. I'm Steven Jack Butala.
Jill DeWit: And I'm Jill DeWit, broadcasting from sunny southern California.
Steven Butala: Today Jill and talk about the topic, stuff your father never told you.
Jill DeWit: I can't wait to hear what you have to say.
Steven Butala: This is kind of a show that I put together that is directly pertaining to real estate. But specifically for younger people and older people too. I talked about this a couple of years ago on the show, and we had a live event, and many many people came up to me and said, man I can't wait to read this book that you're writing about this topic because, anyway, I'll talk about it in a second. But it's so important to really plan your life out. That's really what this is about. Instead of just letting stuff happen to you. Like planning a real estate deal out. Like you want to know what's going to happen. You want to remove most of the variables, or all of the variables that you can. Plan that there's going to be a few variables you can't control. And just make sure you get it done. I'm not sure a lot of people plan that out. I planned out the professional part of my life, not so much the social.
Jill DeWit: It worked out I think.
Steven Butala: It worked out well. Before we get into it though, let's take a question posted by one of our members on a LandInvestors.com online community. It's free.
Jill DeWit: Joe asks, I've got a group of properties under contract with a seller, which includes a commercial property. The purchase price is more than I have in my acquisition funds right now. But I don't want this deal to go to waste. So I'm looking for a funding partner for the deal. I retried Land Academy deal funding, got it, but they said it didn't meet their criteria. I'm not a member, so LandTank is not an option for me. Purchase price is $20,000 and there's a similar commercial parcel currently listed for $250,000. Did anybody-
Steven Butala: And that's where the question ends. And the reason that I included this in there is because there are multiple people, new land investors that are, here's my email address, here's my phone number, this is what we love to do. So and then, all things that happen in Land Academy, it all works out for the members and the people. And then we never hear.
Jill DeWit: Exactly.
Steven Butala: It's just gone. They have successfully flown out of the nest and we don't know.
Jill DeWit: Yeah. So here's the deal. Land Academy deal funding, I do review deals for members and non-members. And so there's something about this deal, it may have been something, just like an access issue, usually the things I don't accept are, there's some access issue or a flooding issue or it's got too many, too high days on market issue, or some other-
Steven Butala: Those are federal criteria.
Jill DeWit: Or not enough skin in the game to, sometimes I'm like okay, by the time we invest in this and you and I split it, it doesn't really make sense. So it's usually things like that for us. That's part of my criteria. And then-
Steven Butala: Biggest one is access. And the second biggest one is not enough money.
Jill DeWit: Not enough money.
Steven Butala: So by us saying, you know what, this doesn't work for us. Well what we're saying is, it's probably a pretty good deal.
Jill DeWit: It might be a good deal.