Think This All the Way Through (LA 919)
Transcript:
Steven Butal: Steve and Jill here.
Jill DeWit: Hello.
Steven Butal: Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.
Jill DeWit: I'm Jill DeWit, broadcasting from sunny southern California.
Steven Butal: Today Jill and I talk about the topic think it all the way through.
Jill DeWit: I feel like I'm telling my child that. I'm telling everyone that.
Steven Butal: I know. I was thinking about that too. This is a little preachy, this topic.
Jill DeWit: It kind of is. But we're going to tie it in.
Steven Butal: We'll make it funny and not preachy.
Jill DeWit: We will. But we should walk around. Everything that you're doing, especially like my team. Did you think this all the way through? Maybe that should be the topic. Did you think this all the way through?
Steven Butal: Before we get into it, let's take a question posted by one of our members on thelandinvestors.com online community. It's free.
Jill DeWit: Sam asks, "Hello all. I'm curious what people think about land investing in 2019. I've not purchased a course, but I've done about two weeks of research on my own."
Steven Butal: That's good. That's great.
Jill DeWit: "And I think I'm ready to get started." That's good. "However, one thing that has been daunting me, the bulk of the information published is several years old. Since then, I'm assuming hundreds of other investors have entered the mix. Looking at the numbers just to advertise on landacademy.com," this is for last month, "185,750 offers mailed, and 283 properties purchased is roughly a .1% success rate." I have something to say about that too. "Has the low barrier to entry created too much competition or over fished the pond? Let me know your thoughts. Thank you." And then we have one person that already weighed in. Is it okay if I go ahead and read that?
Steven Butal: And we have a couple responses here. But I have to say this. I would encourage you, listener, to go onto landinvestors.com. I published two responses here, and I'm going to answer the question too, so is Jill.
Jill DeWit: Right.
Steven Butal: We're going to actually spend a couple minutes on this because it's so important. Well, you know what, let's hear what they say.
Jill DeWit: Okay. One of the things I want to talk personally on is we can really accurately see the data because it's run through our company, the numbers. I know that part's accurate. But what's not accurate is what people actually buy and what they post, because they often sell properties and don't post it on LandPin. So that number is lower than what is real. I just put the numbers that we have access to.
Steven Butal: If you go on any of our websites, or the vast majority of them, there's this little thing that pops up that says, "This is the number of data that our group pulled last month."
Jill DeWit: Right.
Steven Butal: "This is the number of units that we mailed out collectively."
Jill DeWit: Purchased. Right.
Steven Butal: [inaudible]. And these are the estimated number of transactions that were completed. And it's always around 1%. But it's trailing because you don't purchase and sell a property.
Jill DeWit: It's true.
Steven Butal: Purchase a property in one month and ... It's overlapping.
Jill DeWit: That's a good point.
